MagnaChip半导体公司2026年季度报告

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIESTABLE OF CONTENTS PART I FINANCIAL INFORMATION 3Item 1.Interim Consolidated Financial Statements (Unaudited)3Magnachip Semiconductor Corporation and Subsidiaries Consolidated Balance Sheets as ofMarch 31, 2026 and December 31, 20253Magnachip Semiconductor Corporation and Subsidiaries Consolidated Statements ofOperations for the Three Months Ended March 31, 2026 and 20254Magnachip Semiconductor Corporation and Subsidiaries Consolidated Statements ofComprehensive Loss for the Three Months Ended March 31, 2026 and 20255Magnachip Semiconductor Corporation and Subsidiaries Consolidated Statements of6 Changes in Stockholders’ Equity for the Three Months Ended March 31, 2026 and 2025Magnachip Semiconductor Corporation and Subsidiaries Consolidated Statements of Cash Magnachip Semiconductor Corporation and Subsidiaries Notes to Consolidated FinancialStatements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations23 PART I—FINANCIAL INFORMATION MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) March 31,2026March 31,2025(In thousands of U.S. dollars, exceptshare data)Net sales$46,208$44,722Cost of sales39,01435,360Gross profit7,1949,362Operating expenses:Selling, general and administrative expenses7,6669,203 The accompanying notes are an integral part of these consolidated financial statements. MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES 1. Business, Basis of Presentation and Significant Accounting Policies Business Magnachip Semiconductor Corporation (together with its subsidiaries, the “Company”) is a designer andmanufacturer of analog and mixed-signal power semiconductor platform solutions for various applications, The Company develops and manufactures Power discrete (“Power Analog Solutions”) products and developsPower integrated circuit (“IC”) products. Power Analog Solutions products include metal oxide semiconductor fieldeffect transistors (“MOSFETs”) and insulated-gate bipolar transistors (“IGBTs”) for a range of devices, includingtelevisions, smartphones, mobile phones, wearable devices, desktop personal computers (“PCs”), notebook PCs,tablet PCs, home appliance, other consumer electronics, automotive and industrial applications such as powersuppliers, e-bikes, photovoltaic inverters, LED lighting and motor drives. Power IC products include AC-DC/DC- In 2024, the Power IC business was operated by Magnachip Mixed-Signal, Ltd. (“MMS”), which latertransferred the business to Magnachip Semiconductor, Ltd. (“MSK”) effective January 1, 2025, pursuant to anintercompany business transfer agreement executed between MMS and MSK. The transfer was based on the mutual Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared inaccordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Theseinterim consolidated financial statements include normal recurring adjustments and the elimination of allintercompany accounts and transactions which are, in the opinion of management, necessary to provide a fair The December 31, 2025 balance sheet data was derived from the Company’s audited financial statements, butdoes not include all disclosures required by U.S. GAAP. The interim consolidated financial statements should beread in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. There have been no material changes to the Company’s significant accounting policies as of and for the threemonths ended March 31, 2026 as compared to the significant accounting policies described in the Company’sAnnual Report on Form 10-K for the fiscal year ended December 31, 2025. Recent Accounting Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update(“ASU”) 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures(Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”). Additionally, in January2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. ASU 2024-03 requires publiccompanies to disclose, in the notes to the financial statements, specific information about certain costs and expensesat each interim and annual reporting period. This includes disclosing amounts related to purchases of inventory,employee compensation, depreciation, and intangible asset amortization. In addition, public companies will need to 2. Discontinued Operations On March 7, 2025, the Company’s Board of Directors authorized a strategy to transition to a pure-play Powercompany, focusing future investments on the Power Analog Solutions and Power IC businesses. In connection withthis strategy, the Company evaluated various strategic alternatives for its Display business, including a sa