Magnachip Semiconductor Corporation (NYSE:MX) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Steven Pelayo - MD, The Blueshirt Group Young-Joon Kim - CEO Shinyoung Park - CFO Conference Call Participants Quinn Bolton - Needham Andrew Northcutt - Oppenheimer Suji Desilva - ROTH MKM Operator Good day, and thank you for standing by. Welcome to the First Quarter 2024 Magnachip Semiconductor Corporation Earnings Conference Call. [Operator Instructions] Please be advised, today's con ...

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].

Magnachip Semiconductor Corporation (NYSE:MX) Q4 2023 Results Conference Call February 28, 2023 5:00 PM ET Company Participants Steven Pelayo - Managing Director of The Blueshirt Group Young-Joon Kim - CEO Shinyoung Park – CFO Conference Call Participants Suji Desilva - ROTH Capital Markets Martin Yang - Oppenheimer Operator Thank you for standing by and welcome to the Magnachip Semiconductor Corporations Fourth Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. ...

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 ...

Forward-Looking Statements Q3 2023 Report by Business Line 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 future operating results and financial performance, outl ...

Magnachip Semiconductor Corporation (NYSE:MX) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Yujia Zhai - MD, The Blueshirt Group Young-Joon Kim - CEO Shinyoung Park - CFO Conference Call Participants Suji Desilva - ROTH Capital Partners Operator Thank you for standing by and welcome to the Magnachip Semiconductor Corporation's Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Registrant's telephone number, including area code: +82 (2) 6903-3000 ☐ 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) For the quarterly period ended June 30, 2023 Delaware 83-0406195 (State or other jurisdict ...

Magnachip Semiconductor Corporation (NYSE:MX) Q2 2023 Earnings Conference Call August 7, 2023 5:00 PM ET Company Participants Yujia Zhai - Managing Director, The Blueshirt Group Young-Joon Kim - Director, Member of the Risk Committee and Chief Executive Officer Shinyoung Park - Chief Financial Officer Conference Call Participants Suji Desilva - ROTH Capital Partners Martin Yang - Oppenheimer Operator Good day, and thank you for standing by. Welcome to the Q2 2023 Magnachip Semiconductor Corporation Earnings ...