Magnachip Q3 revenue $66.5M at high-end guidance; net loss $9.6M, standard products up 25.9% QoQ

MAGNACHIP SEMICONDUCTOR Corp

2024-Q3 EPS reported -$1.00 revenue$168,698,000

Q3 consolidated revenue $66.5M, at high-end of guidance ($61.5-66.5M), up 25% QoQ and 8.5% YoY.
GAAP net loss $9.6M ($0.26 diluted EPS loss); adjusted net loss $12.8M ($0.34 adjusted EPS loss).
Standard Products revenue $64.0M, up 25.9% QoQ; MSS revenue up 54.5% YoY, PAS up 16.1% YoY.
Ended Q3 with $121.1M cash; repurchased ~0.5M shares for $2.5M during the quarter.
Guidance: Q4 standard product revenue to modestly decline sequentially; reiterate double-digit MSS and PAS growth for FY2024.

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