Himax Technologies : Q1 Earnings Release (1Q26 Earnings PR Final)

Published: 2026-05-08 03:41:19 ET HIMX

Published on 05/08/2026 at 03:41 am EDT

"We expect upward momentum through the remainder of 2026, supported by a meaningful number of new automotive projects scheduled to enter mass production in the second half, a view consistent with our outlook from last quarter's call. The positive outlook is also supported by the anticipated growth in our non-driver IC businesses, particularly Tcon and

WiseEye AI. Despite ongoing macro uncertainty, Himax continues to expand beyond its traditional display IC business, focusing on key growth areas including smart glasses, ultralow power AI and CPO. These emerging technologies present significant growth opportunities that help diversify our revenue base into areas with attractive gross margin profiles and profitability while also strengthening our overall competitiveness." said Mr. Jordan Wu, President and Chief Executive Officer of Himax.

Himax net revenues registered $199.0 million, representing a slight sequential decline of 2.0%, reaching the high end of its guidance range of a decline of 2.0% to 6.0%. Gross margin was 30.4%, also at the high end of Company's guidance of flat to slightly down from 30.4% in the previous quarter. Q1 profit per diluted ADS was 4.6 cents, exceeding the guidance range of

2.0 to 4.0 cents.

Revenue from large display drivers came in at $24.2 million, representing an increase of 11.7% from the previous quarter, outperforming Company's guidance range of a single-digit increase sequentially. This was primarily driven by better-than-expected restocking of high-end TV ICs by a leading panel maker. Sales of large panel driver ICs accounted for 12.2% of total revenues for the quarter, compared to 10.7% last quarter and 11.6% a year ago.

Revenue from the small and medium-sized display driver segment totaled $135.8 million, reflecting a slight decline of 2.4% sequentially amid a typical low season. In line with guidance, Q1 automotive driver sales, including both traditional DDIC and TDDI, declined double digits sequentially, reflecting Lunar New Year seasonality, customers' inventory control following two consecutive quarters of restocking, and the tapering of automotive subsidy programs in major markets including China and the US. In contrast, revenues for smartphone, covering both LCD and OLED products, increased sequentially primarily due to new OLED solutions that began mass production with a top-tier panel maker for a leading smartphone brand's mainstream model. Q1 tablet IC sales also increased sequentially, driven by renewed demand for mainstream models from leading customers following several quarters of softness, as well as the commencement of IC shipments for a customer's new premium OLED tablet. The small and medium-sized driver IC segment accounted for 68.2% of total sales for the quarter, compared to 68.5% in the previous quarter and 70.0% a year ago.

Q1 non-driver sales reached $39.0 million, a 7.7% decrease from the previous quarter, reflecting a decline in ASIC Tcon shipments to a leading projector customer, along with a moderation in automotive Tcon shipments following several quarters of solid growth. However, underlying demand for Himax's automotive Tcon business remains robust, supported by a strong pipeline of hundreds of design-win projects poised to enter mass production in the coming quarters. Non-driver products accounted for 19.6% of total revenues, as compared to 20.8% in the previous quarter and 18.4% a year ago.

First quarter operating expenses were $50.3 million, a decrease of 8.4% from the previous quarter but an increase of 9.9% compared to the same period last year. Both the quarter-over-quarter and year-over-year changes were primarily driven by differences in tape-out expenses, reflecting the timing of major project tape-outs. The year-over-year increase was also attributable to salary expenses and the appreciation of the NT dollar against the U.S. dollar. Against a backdrop of ongoing macroeconomic challenges, Himax continues to maintain strict cost and expense discipline, while strategically investing in selected non-driver IC areas with compelling growth potential, some of which are poised to ramp meaningfully starting in 2027.

First quarter operating profit was $10.2 million, representing an operating margin of 5.1%, compared to 3.4% in the previous quarter and 9.2% for the same period last year. The sequential increase was the result of lower operating expenses. The year-over-year decline reflected the lower sales and gross margin, coupled with higher operating expenses. First-quarter after-tax profit was $8.0 million, or 4.6 cents per diluted ADS, compared to $6.3 million, or 3.6 cents per diluted ADS last quarter, and down from $20.0 million, or 11.4 cents in the same period last year.

Himax had $287.6 million of cash, cash equivalents and other financial assets as of March 31, 2026. This compares to $281.0 million at the same time last year and $286.2 million a quarter ago. As of March 31, 2026, Himax had $27.0 million in long-term unsecured loans, with $6.0 million being the current portion.

Himax's quarter-end inventories as of March 31, 2026 were $151.7 million, slightly lower than $152.7 million last quarter but higher than $129.9 million the same period last year. Having maintained lean inventory levels in prior years, Himax made a strategic decision about a year ago to selectively loosen inventory control in response to an industry-wide shift toward tight supply. Accounts receivable at the end of March 2026 was $190.9 million, down from $200.9 million last quarter and $217.5 million a year ago. DSO was 86 days at the quarter end, as compared to 88 days last quarter and 91 days a year ago. First quarter capital expenditures were $2.9 million, versus $4.0 million last quarter and $5.2 million a year ago. First quarter capex was mainly for R&D-related equipment for Himax's IC design business.

Prior to today's call, Himax announced an annual cash dividend of 25.2 cents per ADS, totaling $44 million and payable on July 10, 2026, with a payout ratio of 100% of the previous year's profit. The high payout ratio reflects Company's healthy balance sheet and positive outlook for cashflow generation over the next few years. For business areas where Himax has in-house manufacturing capacity such as WLO and LCoS, existing capacity is in place to support the strong growth anticipated for the next few years. Himax will continue to focus on maintaining a healthy balance sheet and driving sustainable long-term growth, while delivering shareholder value through high dividends and share repurchases.

As of March 31, 2026, Himax had 174.4 million ADS outstanding, unchanged from last quarter. On a fully diluted basis, the total number of ADS outstanding for the first quarter was 174.4 million.

The rapid rise in AI demand is placing unprecedented strain on memory chip supply, impacting many non-AI applications. This, in turn, has led to capacity tightness across foundry, packaging, and testing in mature process nodes where Himax is anchored, putting upward pressure on Company's cost structure. Rising gold prices have further compounded these cost pressures. With cost pressure expected to persist, Himax is actively working with customers on pricing adjustments to share rising costs, with some price increases already taking effect in Q2.

Market conditions remain dynamic, compounded by ongoing geopolitical tensions, and the market's visibility remains limited on both consumer electronics and automotive for the second half of the year. That said, as indicated in Himax's last earnings call, the first quarter marked the trough with the second quarter recovery tracking as anticipated, primarily driven by customer inventory restocking. Himax expects upward momentum through the remainder of 2026, supported by a meaningful number of new automotive projects scheduled to enter mass production in the second half, a view consistent with Himax's outlook from last quarter's call. The positive outlook is also supported by the anticipated growth in Himax's non-driver IC businesses, particularly Tcon and WiseEye AI.

In the display IC business for automotive, Himax remains confident in its long-term growth prospects, as automotive is an area relatively insulated from memory price impact compared to consumer electronics products such as smartphone and notebook. The long-term positive outlook is underpinned by Himax's leading technology portfolio, broad and diversified customer base, strong design-win pipeline across DDIC and TDDI, and substantial lead over competitors. Himax's display IC portfolio spans a comprehensive range of solutions which enable novel and stylish automotive displays. Such technologies include automotive Tcon with advanced local dimming functionality, LTDI for ultra-large displays, advanced Tcon solutions for state-of-the-art head-up displays, as well as automotive OLED and Micro LED technologies. Customer adoption of these advanced display technologies continues to accelerate across new vehicle models, driving higher content value per vehicle for Himax and creating new growth momentum for Himax's automotive display IC business in the years ahead.

Despite ongoing macro uncertainty, Himax continues to expand beyond its traditional display IC business, focusing on key growth areas including smart glasses, ultralow power AI and CPO. These emerging technologies present significant growth opportunities that help diversify Himax's revenue base into areas with attractive gross margin profiles and profitability while also strengthening its overall competitiveness.

Smart glasses market is a key strategic focus area that Himax is quite optimistic about. Himax is uniquely positioned as one of the few companies with both ultralow power AI capabilities and microdisplay, both critical for smart glasses. WiseEye provides ultralow power always-on AI sensing capabilities, targeting a broad range of smart glasses, while its LCoS microdisplay solutions enable display functionality critical for AR glasses with see-through displays. Himax is pleased to share that a leading brand has adopted its WiseEye for its smart glasses, with mass production expected later this year and additional prominent brands are expected to follow.

In microdisplays for AR glasses, built on the debut of Himax's proprietary Front-lit LCoS microdisplay at Display Week last year, the Company returned to Display Week 2026 with a new-generation upgrade that significantly enhances contrast, dynamic range, and optical efficiency. These advances, driven by Himax's proprietary technologies, deliver a substantial increase in contrast performance while effectively eliminating the "postcard effect" commonly seen for microdisplays in dark environments. Himax's Front-lit LCoS solution offers an optimal balance among weight, size, resolution, image quality, power consumption, and cost, positioning it as a compelling choice for AR glasses.

For both WiseEye and LCoS microdisplay, supported by expanding customer engagements across technology heavyweights and smart glasses specialists globally, Himax is increasingly optimistic about the new space, even compared to just a few quarters ago. Himax expects revenues from AI and AR glasses applications to grow substantially over the next few years.

In the field of Co-Packaged Optics (CPO), together with FOCI, Himax's strategic partner, the Company continues to make steady progress on both the Gen 1 and Gen 2 products as planned. The Gen 1 solution, supporting 1.6T and 3.2T transmission bandwidth, is now ready with small quantity shipments expected to commence in the second half of this year. Meanwhile, the Gen 2 solution, targeting 6.4T bandwidth with significant volume potential, is nearing completion of customer product validation for AI data center applications. Building on this momentum, Himax and FOCI's main goal for 2026 is to achieve mass-production readiness, with only limited shipments expected during the year, followed by an accelerating volume ramp starting 2027.

At the same time, in close partnership with FOCI, Himax and FOCI continue to advance multiple future-generation high-speed optical transmission technologies and CPO architectures in collaboration with leading global customers and partners, focusing on higher fiber channels, more advanced optical designs, and enhanced optical precision to meet the explosive bandwidth demands of HPC and AI data center applications.

In early March, FOCI completed a NT$3.16 billion rights issue to support R&D, equipment purchases and preparations for CPO mass production. Himax, already a shareholder through two earlier tranches of share offerings in 2023 and 2024, participated in the rights issue, which not only demonstrates Company's continued support for its partner and further strengthens collaboration between the two companies, but also underscores that advancing CPO technology requires highly integrated efforts through close collaboration and joint development. With an average acquisition cost of NT$120.6 per share, Himax's equity stake, representing 5.36% of FOCI, now totals NT$4.96 billion (US$156 million) as of May 7 when the market closed at NT$815 per share.

Himax's FOCI investment has been booked as a "financial asset measured at fair value through other comprehensive income" on the balance sheet since day one of investment. As such, based on accounting rules, FOCI's share price fluctuations are recognized in Himax's books as "accumulated other comprehensive income", a balance sheet item under owners' equity and do not affect its profit and loss. Likewise, upon disposal, any resulting gain or loss will be recognized only on the balance sheet through change of retained earnings and, again, will have no impact on the profit and loss. This accounting treatment Himax chose underscores its long-term commitment to the FOCI investment. Himax expects CPO to become a major revenue and profit contributor in the years ahead.

In Q2 2026, Himax anticipates large display driver IC sales to decrease by high-teens quarter-over-quarter, attributable to customers pulling forward their inventory purchases for TV applications in prior quarters. In contrast, both monitor and notebook IC products are poised for sequential increases due to higher legacy product shipments to key customers.

Looking ahead to the notebook market, Himax's focus is on premium models featuring OLED displays and LCD displays with touch functionality. Himax offers a full spectrum of IC solutions for both LCD and OLED notebooks, including DDIC, Tcon, touch controller, and TDDI, enabling Himax to provide customers with a comprehensive one-stop solution while increasing its content per device. Himax continues to see strong design-in momentum

particularly in OLED for notebooks, where rising memory prices are depressing lower-end demand and accelerating the shift to premium segments. The scheduled ramp-up of new Gen 8.6 OLED fabs later this year and in 2027 in China adds another tailwind, further driving higher OLED adoption in notebooks.

Q2 small and medium-sized display driver IC business is expected to increase high-teens from last quarter. Q2 automotive driver IC sales, including TDDI and traditional DDIC, are set to increase by double digit quarter-over-quarter. Both DDIC and TDDI sales are expected to increase sequentially, driven mainly by broad-based replenishment from panel customers with lean inventories, as well as the ramp-up of new TDDI and DDIC projects for a leading panel customer.

Despite global softness in automotive sales, Himax's long-term competitive position remains solid, supported by hundreds of design wins already secured across TDDI, DDIC, Tcon, and an expanding OLED portfolio. In addition, Himax is deepening its well-established supply chain in Taiwan while expanding across China, Singapore, Japan, Korea and Malaysia. This ensures production flexibility and cost competitiveness, while also addressing customers' geopolitical considerations. Himax continues to lead the global automotive display market with a 40% share in DDIC, well over half in TDDI, and an even higher market share in local dimming Tcon.

Himax also continues to lead in automotive display IC innovation, pioneering solutions across a wide range of panel types while addressing diverse design requirements and cost considerations. Recent evidence of such efforts is Himax's LTDI technology for ultra-large touch displays where multiple projects have entered mass production in several car brands across different continents. After years of engagement with customers globally, Himax expects meaningful revenue contributions from LTDI starting this year. Himax's integrated single-chip solution combining TDDI and local dimming Tcon represents another such innovation. Targeting smaller and lower resolution automotive touch displays, it delivers a compelling option for cost- and space-constrained applications without compromising performance. Design-in activities continue to expand globally, with multiple projects underway across leading panel customers, Tier 1s and OEMs.

Looking ahead, the accelerating adoption of OLED displays in automotive creates significant opportunities for Himax. Company's ASIC OLED DDIC and Tcon solutions have already been in mass production for several years, with continued customer adoption. Himax now also offers new standard DDIC and Tcon products to support scalable deployment. In parallel, collaborations are underway with leading panel makers on new custom ASICs, positioning Himax well to address diverse customer requirements across a wide range of automotive display applications. Together, these efforts position Himax to capture increasing semiconductor content as premium automotive displays evolve from LCD to OLED.

In addition, Himax's advanced OLED touch ICs are a key pillar of its automotive OLED portfolio, delivering industry-leading signal-to-noise performance and high-precision multi-finger touch capability, enabling reliable operation even when wearing thick gloves or with wet fingers. Himax's OLED touch ICs started mass production in 2024. Since then, they have been increasingly adopted by leading panel makers and end customers across Korea, China, the U.S., and Europe. Multiple new projects are poised to enter mass production in the coming quarters.

Moving to smartphone IC sales, Himax expects Q2 smartphone revenue, covering both LCD and OLED products, to decrease quarter over quarter following the initial ramp up of an OLED IC for a leading smartphone brand's mainstream model in the prior quarter. For tablet ICs, Q2 sales are expected to increase sequentially, driven by customers' early pull-in demand against the backdrop of rising memory price sentiment in the market, with ongoing shipments for a customer's premium OLED tablet also contributing to sequential growth.

Q2 non-driver IC revenues are expected to increase by double-digit sequentially.

Himax anticipates Q2 2026 Tcon sales to increase by double-digit quarter over quarter. Himax's automotive Tcon business is expected to deliver decent double-digit growth in Q2, driven by shipments from prior design-wins across the board. Despite automotive market headwinds, Himax continues to enjoy strong growth momentum in automotive Tcon. Particularly in solutions featuring local dimming functionality, backed by hundreds of secured design-wins across a broad and diversified customer base, Himax is well positioned for sustained growth. In Q2, Himax expects Tcon to account for over 12% of total sales, with more than half contributed by automotive Tcon.

Meanwhile, head-up displays are poised to become an integral part of new-generation smart cockpits, driving demand for sophisticated Tcon technologies, an area where Himax holds a strong leadership position. Himax's multifunctional Tcon not only delivers excellent contrast, eliminating the "postcard effect" often seen in HUDs, it also supports full-area selectable local de-warping to correct image distortion caused by windshield curvature and/or projection angle. In addition, integrated On-Screen Display function ensures that critical safety information remains visible even when the system is malfunctioning and/or powered down. Together, these features make Himax's Tcon a compelling solution for customers' HUD applications, as evidenced by fast expanding design-in activities with leading panel makers and Tier 1 players. This growing HUD pipeline positions Himax well for broader deployment and meaningful revenue contribution starting in 2027.

On the update of WiseEye™ ultralow power AI sensing solution, a cutting-edge ultralow power AI sensing total solution, targeting endpoint device markets. WiseEye stands out due to its industry-leading, ultralow power design, operating at merely a few milliwatts, combined with an extremely compact size, on-device AI inferencing, and 24/7 always-on image and voice sensing. This combination enables advanced AI capabilities in endpoint devices that were once constrained by power and size limitations and has already been widely adopted across a wide range of applications, including notebooks, surveillance systems, access control devices, palm vein authentication, smart home solutions, and smart glasses, with further customer engagements currently underway.

Regarding WiseEye modules, design-in activities continue to expand, driven by their plug-and-play architecture, combined with ultralow power consumption and on-device AI capabilities. These features help developers accelerate innovation and scale their products from prototypes to commercial deployment. This broad applicability has led to adoption across a

wide range of domains, including smart access control, space management, computer monitor, automotive, and bicycle applications. In particular, Himax's PalmVein module is rapidly securing design wins, offering a touchless, high-security solution with high accuracy and advanced liveness detection. Combined with GDPR-compliant architecture, one of the world's strictest data privacy laws, Himax's PalmVein solution ensures robust data privacy and protection of user biometric information through privacy centric on-device processing. Himax is seeing growing PalmVein module adoption across applications such as smart access control, workforce management, and smart door locks, with multiple projects progressing toward mass production in the coming quarters.

Meanwhile, WiseEye is gaining broad market recognition in smart glasses as a compact, ultralow power, always-on perceptual front end. WiseEye supports both outward-facing environmental sensing, mainly object classification and scene understanding, and inward-facing capabilities, including eyeball tracking and iris authentication, delivering environment-aware vision AI and responsive, low-latency human-machine interaction for smart glasses. This combination of capabilities makes WiseEye ideally suited for wearable devices requiring real-time responsiveness with minimal battery impact and is a key factor driving design-in momentum among smart glasses players.

On Himax's latest advancement in LCoS microdisplay technology, at Display Week 2026 this week in Los Angeles, Himax showcased its ultra-luminous, high-contrast miniature Dual-Edge Front-lit LCoS microdisplay. Himax was also invited to deliver an in-depth presentation at the symposium, highlighting its recognized expertise and leadership in LCoS microdisplay technology. Himax's LCoS solution is a full color microdisplay that integrates illumination optics and LCoS panel into an exceptionally compact form factor of just 0.09 cc and 0.2 grams, delivering up to 350,000 nits of brightness and 1 lumen output at just 200 mW total power consumption. It can also be configured for high-brightness, low-power, green-only mode and frictionlessly switched back upon command from the central processor, allowing for improved power efficiency across different ambient light conditions while supporting customers' cost targets. In addition, its ultra-high luminance ensures excellent visibility in bright environments, while Himax's proprietary technologies significantly enhance contrast and reduce the "postcard effect" frequently observed in low-light conditions.

Himax is currently working closely with multiple waveguide partners across China, Europe, Israel, Japan, Taiwan, and the U.S. to bundle these technologies into display systems for AR glasses, streamlining system integration and driving future design-in opportunities. Himax will provide further updates in due course.

Net Revenue: Increase 10.0% to 13.0% QoQ

Gross Margin: Around 32%, depending on final product mix Profit: 8.6 cents to 10.3 cents per diluted ADS

Q2 gross margin guidance mainly reflects a more favorable product mix, with

increased sales from higher-margin non-driver products and reduced sales from lower-margin products.

Hong Kong 2112-1444

Taiwan 0080-119-6666

Australia 1-800-015-763

Canada 1-877-252-8508

China (1) 4008-423-888

China (2) 4006-786-286

Singapore 800-492-2072

UK 0800-068-8186

United States (1) 1-800-811-0860

United States (2) 1-866-212-5567

Taiwan Domestic Access 02-3396-1191 International Access +886-2-3396-1191

If you choose to attend the call by dialing in via phone, please enter the Participant PIN Code 1404507# after the call is connected. A replay of the webcast will be available beginning two hours after the call on www.himax.com.tw. This webcast can be accessed by clicking on this link or visiting Himax's website, where it will remain available until May 7, 2027.

Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company's display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company's industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, and the US. Himax has 2,564 patents granted and 331 patents pending approval worldwide as of March 31, 2026.

http://www.himax.com.tw

Factors that could cause actual events or results to differ materially from the effect of the Covid-19 pandemic on the Company's business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company's SEC filings, including those risks identified in the section entitled "Risk Factors" in its Form 20-F for the year ended December 31, 2025 filed with the SEC, as may be amended.

Fax: +886-2-2314-0877

Email: [email protected] https://www.himax.com.tw

MZ North America Tel: +1-312-261-6430

Email: [email protected] https://www.mzgroup.us

-Financial Tables-

2026

2025

Revenues

Revenues from third parties, net

$199,003

$215,095

$203,071

Revenues from related parties, net

199,013

215,133

203,081

Costs and expenses:

Cost of revenues

138,568

149,581

141,378

Research and development

38,179

34,987

41,647

General and administrative

6,027

5,557

7,434

Sales and marketing

6,079

5,202

5,793

Total costs and expenses

188,853

195,327

196,252

Operating income

10,160

19,806

6,829

Non operating income:

Interest income

1,979

2,312

2,289

Changes in fair value of financial assets at fair value through profit or loss

139

(17)

1,001

Foreign currency exchange gains (losses), net

(51)

345

(82)

Finance costs

(807)

(903)

(839)

Share of losses of associates

(881)

(742)

(818)

Other gains

3,205

Other income

388

4,217

1,603

Profit before income taxes

10,548

24,023

8,432

Income tax expense

2,109

3,841

1,698

Profit for the period

8,439

20,182

6,734

Profit attributable to noncontrolling interests

(450)

(195)

(398)

Profit attributable to Himax Technologies, Inc. stockholders

$ 7,989

$ 19,987

$ 6,336

Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders

$ 0.046

$ 0.114

$ 0.036

Diluted earnings per ADS attributable to

Himax Technologies, Inc. stockholders

$ 0.046

$ 0.114

$ 0.036

Basic Weighted Average Outstanding ADS

174,426

174,913

174,475

Diluted Weighted Average Outstanding ADS

174,426

175,072

174,475

Assets

Current assets:

March 31,

2026

March 31,

2025

December 31,

2025

Cash and cash equivalents

$ 259,693

$ 275,445

$ 257,504

Financial assets at amortized cost

3,881

2,286

2,714

Financial assets at fair value through profit or loss

24,036

3,253

26,004

Accounts receivable, net (including related parties)

190,940

217,549

200,876

Inventories

151,671

129,867

152,675

Income taxes receivable

717

492

Restricted deposit

568,200

503,700

568,200

Other receivable from related parties

Other current assets

56,941

37,760

56,845

Total current assets

1,255,421

1,170,588

1,265,332

Financial assets at fair value through profit or loss

25,587

23,524

26,516

Financial assets at fair value through other comprehensive income

76,252

29,985

56,836

Equity method investments

10,254

8,061

10,212

Property, plant and equipment, net

118,501

120,538

120,031

Deferred tax assets

21,865

20,872

22,268

Goodwill

28,138

Other intangible assets, net

2,146

619

2,565

Restricted deposit

Refundable deposits

172,706

215,271

185,247

Other non-current assets

18,012

17,854

17,875

473,461

464,892

469,688

Total assets

$1,728,882

$1,635,480

$1,735,020

Liabilities and Equity Current liabilities:

Short-term unsecured borrowings

$ -

$ 602

$ 140

Current portion of long-term unsecured borrowings

6,000

Short-term secured borrowings

568,200

503,700

568,200

Accounts payable

128,307

105,610

138,683

Income taxes payable

15,758

12,785

14,357

Other payable to related parties

364

Contract liabilities-current

2,986

5,176

3,322

Other current liabilities

54,443

50,443

68,443

Total current liabilities

775,694

684,316

799,509

Long-term unsecured borrowings

21,000

27,000

22,500

Deferred tax liabilities

709

557

727

Other non-current liabilities

8,541

7,489

10,145

30,250

35,046

33,372

Total liabilities

805,944

719,362

832,881

Equity

Ordinary shares

107,010

Additional paid-in capital

115,136

115,722

115,850

Treasury shares

(9,760)

(5,546)

(9,760)

Accumulated other comprehensive income

49,774

7,874

36,704

Retained earnings

651,577

684,587

643,588

Equity attributable to owners of Himax

Technologies, Inc.

913,737

909,647

893,392

Noncontrolling interests

9,201

6,471

8,747

Total equity

922,938

916,118

902,139

Total liabilities and equity

$1,728,882

$1,635,480

$1,735,020

Three Months Ended December 31,

Cash flows from operating activities:

Profit for the period

$ 8,439

$ 20,182

$ 6,734

Adjustments for:

Depreciation and amortization

5,938

5,156

6,725

Share-based compensation expenses

100

140

Losses on disposals and scrap of property, plant and

equipment, net

(3,205)

Changes in fair value of financial assets at fair value

through profit or loss

(139)

(1,001)

Interest income

(1,979)

(2,312)

(2,289)

Finance costs

807

903

839

Income tax expense

2,109

3,841

1,698

Share of losses of associates

881

742

818

Inventories write downs

3,041

4,444

3,959

Unrealized foreign currency exchange losses

440

441

268

19,639

30,309

17,901

Changes in:

Accounts receivable (including related parties)

9,934

13,083

(47)

Inventories

(2,047)

24,435

(18,696)

Other receivable from related parties

(6)

Other current assets

1,774

(978)

(8,108)

Accounts payable

(10,380)

(7,250)

10,275

Other payable to related parties

(364)

364

Contract liabilities

(334)

735

919

Other current liabilities

(14,544)

(3,763)

12,653

Other non-current liabilities

Cash generated from operating activities

3,703

56,644

15,276

Interest received

585

438

4,112

Interest paid

(596)

(835)

(949)

Income tax refunded (paid), net

318

(200)

(1,630)

Net cash provided by operating activities

4,010

56,047

16,809

Cash flows from investing activities:

Acquisitions of property, plant and equipment

(2,858)

(5,221)

(3,991)

Acquisitions of intangible assets

(104)

(52)

(20)

Acquisitions of financial assets at amortized cost

(1,145)

(2,700)

Proceeds from disposal of financial assets at

amortized cost

2,000

Acquisitions of financial assets at fair value through

profit or loss

(9,508)

(6,160)

(7,605)

Proceeds from disposal of financial assets at fair

value through profit or loss

10,257

5,017

2,323

Acquisitions of financial assets at fair value through

other comprehensive income

(6,385)

(2,500)

Acquisition of a subsidiary, net of cash paid

(584)

Acquisitions of equity method investment

(244)

1,030

Decrease in refundable deposits

10,270

10,283

Three Months Ended December 31,

Cash flows from financing activities:

Purchase of treasury shares

(630)

Prepayments for purchase of treasury shares

(370)

Proceeds from issuance of new shares by

subsidiaries

Purchases of subsidiary shares from noncontrolling

interests

(127)

Proceeds of short-term unsecured borrowings

612

Repayments of short-term unsecured borrowings

(140)

(1,125)

Repayments of long-term unsecured borrowings

(1,500)

(1,916)

Proceeds from short-term secured borrowings

580,900

484,300

543,760

Repayments of short-term secured borrowings

(580,900)

(484,300)

(543,760)

Payment of lease liabilities

(518)

(1,448)

(579)

Guarantee deposits refunded

(1)

Net cash used in financing activities

(2,158)

(2,336)

(4,717)

Effect of foreign currency exchange rate changes

on cash and cash equivalents

219

(153)

Net increase in cash and cash equivalents

2,189

57,297

414

Cash and cash equivalents at beginning of period

257,504

218,148

257,090

Cash and cash equivalents at end of period

$ 259,693

$ 275,445

$ 257,504

Disclaimer

Himax Technologies Inc. published this content on May 08, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 08, 2026 at 07:35 UTC.