Magnachip Q2 revenue $44.7M, gross margin 19.3% above guidance; appoints new CEO, partners with Navitas

MAGNACHIP SEMICONDUCTOR Corp

Revenue $44.7M, down 6.1% YoY; within guidance of $44.5-$48.5M.
GAAP gross margin 19.3% above guidance high end of 19.0%; operating loss $9.98M.
GAAP diluted EPS -$0.21; non-GAAP adjusted diluted EPS -$0.13.
Appointed Chae Lee as CEO; formed strategic partnership with Navitas Semiconductor to license SiC technology.
Launched 6th-generation 600V SJ MOSFETs for AI servers and EV charging.

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