Magnachip Semiconductor : Q1 2026 Earnings Material Slides (bcc64b)

Published: 2026-04-28 17:54:19 ET MX

Published on 04/28/2026 at 05:54 pm EDT

Q1 2026 Earnings Materials

1

April 28, 2026

($0.08)

($0.08)

($0.11)

($0.11)

($0.24)

The year-over-year decline was primarily attributable to an unfavorable product mix, driven mainly by ASP erosion, particularly in China.

The sequential increase was mainly attributable to a one-time sales incentive which had a 560 basis-point negative impact in the fourth quarter.

down 5.3 pts

up 6.3 pts

14.0% - 16.0%

15.6%

Q1 revenue was at about the mid-point of our guidance range of $44.0 million to $48.0 million. This was up 3.3% year-over-year, and up 13.9% sequentially.

up 3.3%

up 13.9%

$44.0 M - $48.0 M

$46.2 M

Q1 2026 Financial Summary - Continuing Operations

($0.13)

Q1 2026 Report by Business and Recent Highlights

PAS

Q1 2026

Q4 2025

Q/Q Change

Q1 2025

Y/Y change

Revenue

$41.6 M

$36.8 M

up 13.1%

$39.9 M

up 4.5%

PAS revenue was $41.6 million. This was up 4.5% year-over-year, and up 13.1% sequentially. The sequential improvement was primarily driven by the $2.7 million of one-time sales incentive that was recognized as a reduction in revenue in Q4 2025, as part of our efforts to reduce elevated channel inventory.

PIC

Q1 2026

Q4 2025

Q/Q Change

Q1 2025

Y/Y change

Revenue

$4.6 M

$3.8 M

up 21.3%

$4.9 M

down 6.2%

PIC revenue was $4.6 million. This was down 6.2% year-over-year and up 21.3% sequentially.

Q1 Recent Highlights

Launched 8th-generation ultra low-Rss(on) 12V BatteryFET designed for smartphone battery power efficiency

Launched 8th-generation 40V and 60V MV MOSFETs for servers and high-performance PCs

On track to launch 55 new-generation products in 2026

Q1 2026 Key Financials

Balance Sheet

Non-GAAP

Metrics -Continuing Operations

(In $ millions, except for share data and days calculation)

Non-GAAP Metrics

Q1 2026

Q4 2025

Q1 2025

Adjusted Operating Loss

($6.5)

($11.9)

($4.4)

Adjusted EBITDA

($3.6)

($8.9)

($1.2)

Adjusted Loss

($4.1)

($2.7)

($2.8)

Adjusted Loss per Common Share -Diluted

($0.11)

($0.08)

($0.08)

Balance Sheet

Q1 2026

Q4 2025

Q1 2025

Cash and Cash Equivalents

$94.6

$103.8

$132.7

Days Sales Outstanding (DSO)

45 days

51 days

47 days

Days in Inventory

74 days

78 days

70 days

Total Stockholders' Equity

$232.8

$248.3

$269.2

Q2 2026 Outlook - Continuing Operations

Beginning Q1 2025, the Company became a pure-play Power company, with the display business classified as discontinued operations and reported separately from continuing operations, which include PAS and Power IC business lines. While actual results may vary, Magnachip currently expects the following:

Q2 2026

Key Metrics

Guidance

Revenue

Consolidated revenue from continuing operations (which includes Power Analog Solutions and Power IC businesses) to be in the range of $44.5 million to $48.5 million, roughly flat sequentially and a decrease of 2.3% year-over-year at the mid-point. This compares with $46.2 million in Q1 2026 and $47.6 million in Q2 2025.

Gross Profit Margin

Consolidated gross profit margin from continuing operations to be in the range of 17% to 19%, up from 15.6% in Q1 2026 but down from 20.4% in Q2 2025.

Q1 2026 Financial Highlights

(1) Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a meaningful understanding of the factors and trends affecting our business and operations and assist in evaluating our core operating performance. However, such non-GAAP financial measures have limitations and should not be considered as a substitute for net loss or as a better indicator of our operating performance than measures that are presented in accordance with GAAP. A reconciliation of historical GAAP results to non-GAAP results is included in this press release.

Appendix: GAAP to Non-GAAP Reconciliation

(In thousands of U.S. dollars)

We present Adjusted Operating Loss from continuing operations as a supplemental measure of our performance. We define Adjusted Operating Loss from continuing operations for the periods indicated as operating loss from continuing operations adjusted to exclude (i) Equity-based compensation expense.

Appendix: GAAP to Non-GAAP Reconciliation

(In thousands of U.S. dollars, except share data)

Appendix: GAAP to Non-GAAP Reconciliation

We present Adjusted EBITDA from continuing operations and Adjusted Loss from continuing operations as supplemental measures of our performance. We define Adjusted EBITDA from continuing operations for the periods indicated as EBITDA - continuing operations (as defined below), adjusted to exclude (i) Equity-based compensation expense, (ii) Foreign currency loss, net and (iii) Derivative valuation loss (gain), net. EBITDA - continuing operations for the periods indicated is defined as loss from continuing operations before interest income, interest expense, income tax benefit, net and depreciation and amortization.

We prepare Adjusted Loss from continuing operations by adjusting loss from continuing operations to eliminate the impact of a number of non-cash expenses and other items that may be either one time or recurring that we do not consider to be indicative of our core ongoing operating performance. We believe that Adjusted Loss from continuing operations is particularly useful because it reflects the impact of our asset base and capital structure on our operating performance. We define Adjusted Loss from continuing operations for the periods as net loss, adjusted to exclude (i) Equity-based compensation expense, (ii) Foreign currency loss, net, (iii) Derivative valuation loss (gain), net and (iv) Income tax effect on non-GAAP adjustments.

Disclaimer

MagnaChip Semiconductor Corporation published this content on April 28, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 28, 2026 at 21:54 UTC.