Financial Data and Key Metrics Changes - Q3 revenue was $66.5 million, up 8.5% year-over-year and up 25% sequentially, at the high end of guidance [8][33] - Consolidated Q3 gross profit margin was 23.3%, down 0.3 percentage points year-over-year but up 1.5 percentage points sequentially [8][35] - Q3 operating loss was $11 million, compared to a loss of $12.8 million in Q2 and a loss of $9.2 million in Q3 2023 [40] - Net loss in Q3 was $9.6 million, compared to a net loss of $13 million in Q2 and a net loss of $5.2 million in Q3 last year [40][41] Business Line Data and Key Metrics Changes - Revenue from the Standard Product business was $64.0 million, up 24.0% year-over-year and up 25.9% sequentially [10] - PAS revenue was $47.6 million, up 16.1% year-over-year and 21.2% quarter-over-quarter, representing 74.3% of Standard Product revenue [11][34] - MSS revenue was $16.4 million, up 54.5% year-over-year and up 41.8% sequentially, representing 25.7% of Standard Product revenue [20][34] Market Data and Key Metrics Changes - The Industrial segment saw strong growth in solar applications, with demand for solar pumps expanding [12] - The Automotive segment showed strength with additional design wins in Japan and China [14] - The Communication segment experienced slight sequential improvement driven by demand for low-voltage MOSFETs for high-end smartphones [15] Company Strategy and Development Direction - The company is transitioning to a pure-play standard products company, focusing on mixed signal expertise in Power ICs and advanced OLED DDICs [9][51] - The company expects to provide 2025 guidance in the next earnings call, indicating confidence in its strategic direction [52] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the future, highlighting a strong product pipeline and ongoing demand in key markets [51][52] - The company anticipates a flattish revenue outlook for Q4, which is better than typical seasonality [29] Other Important Information - The company ended Q3 with cash of $121.1 million and an additional nonredeemable short-term financial investment of $30 million [43] - Q3 CapEx was $2.6 million, with expectations to spend closer to the high end of the $10 million to $12 million range for the full year [45] Q&A Session Summary Question: What drives the recovery in gross margin? - Management indicated that the recovery is related to the PAS gross margin and the transition from foundry services to power products, which will take time [55][56] Question: What is the outlook for MSS business in 2025? - Management stated that two products are expected to go into production in Q1 2025, with cautious optimism about the product pipeline [58][59] Question: Are there any macro factors affecting OLED customers? - Management noted no significant changes in the market for their products and guided better than seasonal performance for Q4 [72] Question: What drove the uptick in R&D spending in Q3? - R&D spending fluctuates based on product development timing, and the company expects to finish 2024 within the previously communicated OpEx range [67][68]

Magnachip Semiconductor (NYSE: MX) Q3 2024 Earnings Materials October 30, 2024 1 Forward-Looking Statements 2 Information in this presentation regarding Magnachip's forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All forward-looking statements included or incorporated by reference in this presentation, including expectations about estimated historical or futur ...

Core Viewpoint - Magnachip reported a quarterly loss of $0.34 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.19, marking a significant earnings surprise of -78.95% [1] - The company achieved revenues of $66.46 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 3.76% and showing an increase from $61.25 million year-over-year [2] Financial Performance - The company has surpassed consensus EPS estimates three times over the last four quarters, although it reported a loss of $0.34 this quarter compared to a loss of $0.04 per share a year ago [1][2] - Magnachip's shares have declined approximately 40% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at -$0.29 for the coming quarter and -$0.97 for the current fiscal year [4][7] - The Zacks Rank for Magnachip is currently 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Industry Context - The Semiconductor - Analog and Mixed industry, to which Magnachip belongs, is currently ranked in the top 31% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Magnachip's performance [5]

Financial Performance - Q3 2024 consolidated revenue was $66.5 million, at the high-end of guidance range of $61.5-66.5 million, representing a 25.0% increase quarter-over-quarter and an 8.5% increase year-over-year[2][5] - Standard product business revenue increased 25.9% sequentially and 24.0% year-over-year, reaching $64.0 million in Q3 2024[2][5] - Total revenues for Q3 2024 were $66,460 thousand, a 9.3% increase compared to $61,245 thousand in Q3 2023[13] - Net sales for the standard products business reached $64,020 thousand in Q3 2024, up 25.5% from $51,619 thousand in Q3 2023[13] - The company expects Q4 2024 consolidated revenue to be in the range of $59.0 to $64.0 million, including approximately $2.0 million from Transitional Foundry Services[7] Profitability and Margins - Q3 2024 consolidated gross profit margin was 23.3%, in-line with the mid-point of guidance range of 22.5-24.5%[2][5] - Gross profit margin for standard products was 24.4% in Q3 2024, compared to 23.1% in Q3 2023[13] - Operating loss for Q3 2024 was $(11,003) thousand, an improvement from $(12,824) thousand in Q3 2023[13] - Net loss for Q3 2024 was $(9,617) thousand, compared to $(12,997) thousand in Q3 2023[13] - The adjusted operating loss for the three months ended September 30, 2024, was $9,026 thousand, compared to an adjusted operating loss of $7,064 thousand for the same period in 2023, indicating a deterioration of 27.7%[16] - The adjusted EBITDA for the three months ended September 30, 2024, was $(4,949) thousand, compared to $(2,735) thousand for the same period in 2023, reflecting a decline of 81.5%[18] Cash and Investments - Cash at the end of Q3 2024 was $121.1 million, with an additional non-redeemable short-term financial investment of $30 million[3] - Cash and cash equivalents decreased to $121,095 thousand as of September 30, 2024, down from $158,092 thousand at December 31, 2023[14] - The net cash used in investing activities for the three months ended September 30, 2024, was $2,269 thousand, a significant decrease from $35,397 thousand for the same period in 2023[15] - The ending cash and cash equivalents as of September 30, 2024, were $121,095 thousand, down from $166,644 thousand as of September 30, 2023, representing a decline of 27.3%[15] Liabilities and Equity - Total liabilities increased to $111,782 thousand as of September 30, 2024, compared to $75,893 thousand at December 31, 2023[14] - Total stockholders' equity decreased to $299,573 thousand as of September 30, 2024, from $344,598 thousand at December 31, 2023[14] Research and Development - Research and development expenses for Q3 2024 were $14,373 thousand, up from $11,627 thousand in Q3 2023[13] Shareholder Actions - The company repurchased approximately 0.5 million shares for an aggregate purchase price of $2.5 million during Q3 2024[3] - The weighted average number of shares for basic and diluted shares was 37,468,849 for the three months ended September 30, 2024, compared to 40,145,290 for the same period in 2023, indicating a reduction of 6.6%[18] Future Expectations - MSS revenue for Q4 2024 is expected to be between $15 million and $17 million, down 2.7% sequentially but up 87% year-over-year[8] - PAS revenue for Q4 2024 is expected to be between $42 million and $45 million, down 8.6% sequentially but up 33.3% year-over-year[8] - The company anticipates full-year 2024 MSS and PAS revenue to grow in double digits year-over-year, compared to $44.4 million and $151.3 million in 2023 respectively[9] Other Financial Metrics - The company recorded $8,449 thousand in termination-related charges for the nine months ended September 30, 2023, due to a voluntary resignation program[17] - The company also recorded $802 thousand in one-time employee incentives during the same period[20] - The company reported a foreign currency loss of $5,066 thousand for the three months ended September 30, 2024, compared to a gain of $3,557 thousand for the same period in 2023[18] - Cash used in operating activities for the three months ended September 30, 2024, was $12,905 thousand, compared to $17,989 thousand for the same period in 2023, showing a decrease of 28.5%[15] - Adjusted Net Loss is defined as net loss adjusted to exclude several non-cash expenses and other items not indicative of core operating performance[19] - The company believes Adjusted Net Loss reflects the impact of its asset base and capital structure on operating performance[19] New Technology - New OLED driver technology was introduced, featuring over 20% reduction in power consumption compared to the previous generation[4]

Magnachip (MX) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.32. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 34.38%. A quarter ago, it was expected that this chip products maker would post a loss of $0.33 per share when it actually produced a loss of $0.28, delivering a surprise of 15.15%. Over the last four quarters, the company has su ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . (State or other jurisdiction of incorporation or organization) Delaware 83-0406195 (I.R.S. Employer Identification No.) c/o Magnachip Semiconductor, Ltd. 15F, 76 Ji ...

Exhibit 99.1 Magnachip Reports Results for First Quarter 2024 Financial Highlights Operational Highlights SEOUL, South Korea, May 2, 2024 – Magnachip Semiconductor Corporation (NYSE: MX) ("Magnachip" or the "Company") today announced financial results for the first quarter 2024. YJ Kim, Magnachip's Chief Executive Officer commented, "In Q1 we started the initial revenue ramp for OLED DDICs for the after-service market, and we were awarded two new designs targeted for a leading China smartphone OEM and also ...

Financial Performance - For the year ended December 31, 2023, the company generated total revenues of $230.1 million, with a net loss of $36.6 million and an operating loss of $57.6 million[21]. - The company’s Adjusted EBITDA for 2023 was negative $24.2 million, indicating ongoing challenges in achieving profitability[21]. - Total revenues for 2023 were $230.051 million, a decrease of 31.9% from $337.658 million in 2022[350]. - Net loss for 2023 was $36.622 million, compared to a net loss of $8.036 million in 2022[352]. - Gross profit for 2023 was $51.640 million, down from $101.264 million in 2022, representing a decline of 49.1%[350]. - Operating income (loss) for 2023 was $(57.644) million, compared to $(5.244) million in 2022[350]. - Research and development expenses for 2023 were $51.563 million, slightly down from $52.338 million in 2022[350]. - Total operating expenses increased to $109.284 million in 2023 from $106.508 million in 2022[350]. - The company reported a foreign currency loss of $4.020 million in 2023, compared to a loss of $10.558 million in 2022[352]. - Basic earnings per share for 2023 were $(0.89), compared to $(0.18) in 2022[350]. Revenue Sources - The Display Solutions products represented 14.0% of total revenues for the fiscal year ended December 31, 2023, while Power Solutions products accounted for 71.1%[26][27]. - The company sold approximately 400 distinct products in 2023, with a substantial portion of revenues derived from a concentrated number of customers[19]. - The company reported revenues of $2.8 million from U.S. customers and $192.9 million from foreign countries for the year ended December 31, 2023, with 41.4% from Greater China and 34.6% from Korea[56]. - For the years ended December 31, 2023, 2022, and 2021, the company's ten largest customers accounted for 69.2%, 69.4%, and 79.8% of net sales from its standard products business, respectively[56]. - The company derived 34% of net sales from its standard products business through its direct sales force in 2023, down from 48% in 2022 and 62% in 2021[55]. Market and Industry Trends - The semiconductor market is expanding, driven by consumer demand for high-definition audio and video, mobile devices, and advanced consumer electronics[29]. - The company aims to strengthen its position in the semiconductor industry by focusing on advanced analog and mixed-signal semiconductor technology, enhancing functionality in electronics devices[35]. - The company expects to broaden its customer base, particularly in high-growth regions like China, Hong Kong, and Taiwan, while introducing new products to penetrate new accounts[36]. Product Development and Innovation - The company has a portfolio of approximately 1,100 registered patents and pending applications, supporting its innovation in analog and mixed-signal semiconductor technology[17]. - The company has established relationships with leading global electronics companies, enhancing its ability to meet customer needs and drive product development[33]. - The company has implemented management initiatives to improve execution excellence, which is expected to enhance new product development and customer service[36]. - The company’s display technology portfolio includes advanced display drivers capable of supporting resolutions from VGA (640 x 480) to UHD (3840 x 2160) and color depths up to 1 billion colors[40]. - The company’s large display solutions include products in mass production that provide up to 1,542 channels, designed to meet the increasing demand for high-resolution displays[41]. - The company’s mobile display solutions support high frame rates of 90Hz, 120Hz, and 144Hz, catering to the evolving demands of 5G technology[43]. - The company develops power management solutions including MOSFETs and IGBTs for a wide range of applications, enhancing system stability and energy efficiency[45]. Manufacturing and Operations - The manufacturing strategy focuses on optimizing asset utilization to maintain price competitiveness and improve operational efficiency[33]. - The company has been outsourcing manufacturing of certain OLED products to external foundries to adapt to changing customer requirements without substantial capital investments[34]. - The company manufactures most Display Solutions products at external foundries, allowing for dynamic adaptation to customer requirements without substantial capital investments[36]. - The company’s in-house process technology capabilities and eight-inch wafer production lines contribute to product competitiveness and efficiency[47]. Employee and Organizational Structure - The company employs 891 individuals, with 228 in research and development, including 78 with advanced degrees, as of December 31, 2023[64]. - The company has a labor union representing approximately 55% of its employees at its Korean subsidiary as of December 31, 2023[67]. - The company has implemented long- and mid-term retention programs to attract and retain high-performing key talent[74]. - The company offers various employee benefits, including annual medical checkups and educational assistance programs, to promote employee well-being[75]. Financial Position and Assets - As of December 31, 2023, Magnachip Semiconductor Corporation reported total assets of $420.491 million, a decrease from $516.645 million in 2022, representing a decline of approximately 18.5%[347]. - The company's cash and cash equivalents decreased to $158.092 million in 2023 from $225.477 million in 2022, reflecting a reduction of about 29.9%[347]. - Total current assets fell to $245.434 million in 2023, down from $337.853 million in 2022, indicating a decrease of approximately 27.3%[347]. - Stockholders' equity declined to $344.598 million in 2023 from $428.153 million in 2022, representing a decrease of approximately 19.5%[347]. - The company reported retained earnings of $298.884 million in 2023, down from $335.506 million in 2022, reflecting a decrease of about 10.9%[347]. - Accounts receivable decreased to $32.641 million in 2023 from $35.380 million in 2022, a decline of approximately 20.0%[347]. - Inventories also saw a decrease, falling to $32.733 million in 2023 from $39.883 million in 2022, which is a reduction of about 18.0%[347]. Compliance and Risk Management - The company has a dedicated Environmental Health & Safety (EHS) team that ensures compliance with international standards, maintaining certifications for ISO 45001 and ISO 14001[76]. - The company is subject to various environmental regulations, including the Korean Emissions Trading Scheme (K-ETS), which requires compliance with greenhouse gas emissions targets[78]. - The company is exposed to market risks associated with foreign currency exchange rates, particularly from subsidiaries in Korea, Taiwan, China, Japan, and Hong Kong[326]. - A 10% devaluation of the Korean won against the U.S. dollar would result in a decrease of $1.7 million in the company's U.S. dollar financial instruments and cash balances[327]. Accounting and Financial Reporting - The Company recognizes revenue when it satisfies the performance obligation of transferring control over a product or service to a customer, typically upon shipment or delivery[396]. - The Company utilizes the first in, first out (FIFO) method for inventory valuation, and establishes reserves for excess inventory based on current levels and projected demand[371]. - The Company assesses the functional currency of its subsidiaries, with the Korean Won designated for its Korean subsidiary, Magnachip Semiconductor, Ltd[367]. - The Company accounts for lease transactions as either operating or finance leases, with right-of-use assets and liabilities recognized based on the present value of future minimum lease payments[381]. - The Company follows ASC 820 for fair value measurements and disclosures, establishing a fair value hierarchy with three levels[386]. - The Company makes estimates of expected credit losses for accounts receivable based on historical collection experience and current economic conditions[369]. - The Company is currently evaluating the impact of new accounting standards updates issued by the FASB, which will affect segment reporting and income tax disclosures starting in 2024 and 2025, respectively[426][427].

Exhibit 99.1 Magnachip Reports Results for Fourth Quarter and Full-Year 2023 Announces successful design-wins with Smartphone Chinese OEMs Financial Highlights Operational Highlights SEOUL, South Korea, February 28, 2024 – Magnachip Semiconductor Corporation (NYSE: MX) ("Magnachip" or the "Company") today announced financial results for the fourth quarter and full-year 2023. YJ Kim, Magnachip's Chief Executive Officer commented, "As we reflect on the past year and look ahead, we're shaping our future with t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-34791 Magnachip Semiconductor Corporation (Exact name of registrant as specified in its charter) Delaware 83-04061 ...