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Midas Edge

MAGNACHIP SEMICONDUCTOR Corp

For the period ended Mar 31, 2026. Filed May 8, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 8, 2026

MX$2.53+1.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Interim Consolidated Financial Statements (Unaudited)

CONSOLIDATED BALANCE SHEETS (Unaudited)

March 31,2026December 31,2025
(In thousands of U.S. dollars, except share data)
Assets
Current assets
Cash and cash equivalents$94,554$103,756
Accounts receivable, net24,17626,022
Inventories, net32,84834,151
Other receivables4,2032,882
Prepaid expenses5,5915,062
Hedge collateral (Note 8)4,9701,200
Other current assets (Note 17)3,6813,782
Total current assets170,023176,855
Property, plant and equipment, net95,072100,204
Operating lease right-of-use assets1,7972,070
Intangible assets, net404454
Long-term prepaid expenses, net531584
Deferred income taxes61,22264,248
Other non-current assets6,4167,114
Total assets$335,465$351,529
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable$21,330$20,848
Other accounts payable10,81311,444
Accrued expenses (Note 7)5,4906,929
Accrued income taxes4581
Operating lease liabilities1,3441,427
Current portion of long-term borrowings (Note 11)26,431—
Other current liabilities6,2642,681
Total current liabilities71,71743,410
Long-term borrowings (Note 11)15,85544,599
Accrued severance benefits, net11,66011,502
Non-current operating lease liabilities509690
Other non-current liabilities2,9213,078
Total liabilities102,662103,279
Commitments and contingencies (Note 17)
Stockholders’ equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 58,249,450 shares issued and 36,440,854 outstanding at March 31, 2026 and 58,027,696 shares issued and 36,219,100 outstanding at December 31, 2025581579
Additional paid-in capital282,178281,537
Retained earnings210,205214,852
Treasury stock, 21,808,596 shares at March 31, 2026 and 21,808,596 shares at December 31, 2025, respectively(229,910)(229,910)
Accumulated other comprehensive loss(30,251)(18,808)
Total stockholders’ equity232,803248,250
Total liabilities and stockholders’ equity$335,465$351,529

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended
March 31,2026March 31,2025
(In thousands of U.S. dollars, except share data)
Net sales$46,208$44,722
Cost of sales39,01435,360
Gross profit7,1949,362
Operating expenses:
Selling, general and administrative expenses7,6669,203
Research and development expenses6,6985,437
Total operating expenses14,36414,640
Operating loss(7,170)(5,278)
Interest income1,0631,540
Interest expense(373)(423)
Foreign currency loss, net(115)(405)
Other income (loss), net(10)114
Loss from continuing operations before income tax benefit, net(6,605)(4,452)
Income tax benefit, net(1,908)(401)
Loss from continuing operations(4,697)(4,051)
Income (Loss) from discontinued operations, net of tax50(4,827)
Net loss$(4,647)$(8,878)
Basic earnings (loss) per common share—
Continuing operations$(0.13)$(0.11)
Discontinued operations$0.00$(0.13)
Total$(0.13)$(0.24)
Diluted earnings (loss) per common share—
Continuing operations$(0.13)$(0.11)
Discontinued operations$0.00$(0.13)
Total$(0.13)$(0.24)
Weighted average number of shares—
Basic36,407,58136,887,841
Diluted36,407,58136,887,841

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited)

Three Months Ended
March 31,2026March 31,2025
(In thousands of U.S. dollars)
Net loss$(4,647)$(8,878)
Other comprehensive income (loss)
Foreign currency translation adjustments(7,975)755
Derivative adjustments(3,468)661
Total other comprehensive income (loss)(11,443)1,416
Total comprehensive loss$(16,090)$(7,462)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Unaudited)

Common Stock · Accumulated
(In thousands of U.S. dollars, except share data)SharesAmountAdditionalPaid-InCapitalRetainedEarningsTreasuryStockOtherComprehensiveLossTotal
Three Months Ended March 31, 2026:
Balance at December 31, 202536,219,100$579$281,537$214,852$(229,910)$(18,808)$248,250
Stock-based compensation——643———643
Settlement of restricted stock units221,7542(2)————
Other comprehensive loss, net—————(11,443)(11,443)
Net loss———(4,647)——(4,647)
Balance at March 31, 202636,440,854$581$282,178$210,205$(229,910)$(30,251)$232,803
Three Months Ended March 31, 2025:
Balance at December 31, 202436,912,118$574$279,423$244,576$(225,883)$(21,893)$276,797
Stock-based compensation——1,030———1,030
Settlement of restricted stock units72,9621(1)————
Acquisition of treasury stock(309,291)———(1,164)—(1,164)
Other comprehensive income, net—————1,4161,416
Net loss———(8,878)——(8,878)
Balance at March 31, 202536,675,789$575$280,452$235,698$(227,047)$(20,477)$269,201

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Three Months Ended
March 31,2026March 31,2025
(In thousands of U.S. dollars)
Cash flows from operating activities
Net loss$(4,647)$(8,878)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization2,8823,273
Provision for severance benefits1,2121,514
Loss (gain) on foreign currency, net4,262(35)
Provision (reversal) for inventory reserves(321)1,208
Stock-based compensation6431,030
Deferred income taxes8(415)
Others, net74225
Changes in operating assets and liabilities
Accounts receivable, net1,611635
Inventories(191)(3,259)
Other receivables(1,547)(811)
Prepaid expenses(152)1,233
Other current assets(1,725)970
Accounts payable5712,542
Other accounts payable(254)(2,622)
Accrued expenses(1,068)(111)
Accrued income taxes(33)(6)
Other current liabilities593(901)
Other non-current liabilities53354
Payment of severance benefits(228)(325)
Others, net(187)(290)
Net cash provided by (used in) operating activities1,556(4,669)
Cash flows from investing activities
Payment of hedge collateral(3,785)—
Proceeds from disposal of property, plant and equipment49—
Purchase of property, plant and equipment(3,915)(208)
Payment for intellectual property registration(24)(63)
Collection of guarantee deposits1,89121
Payment of guarantee deposits(158)(139)
Net cash used in investing activities(5,942)(389)
Cash flows from financing activities
Acquisition of treasury stock(176)(1,306)
Repayment of financing related to water treatment facility arrangement(110)(111)
Repayment of principal portion of finance lease liabilities(34)(38)
Net cash used in financing activities(320)(1,455)
Effect of exchange rates on cash and cash equivalents(4,496)557
Net decrease in cash and cash equivalents(9,202)(5,956)
Cash and cash equivalents
Cash and cash equivalents at beginning of period103,756138,610
Cash and cash equivalents at end of period$94,554$132,654
Supplemental cash flow information
Cash paid for interest on long-term borrowings$384$321
Cash refunded for income taxes$(42)$(337)
Non-cash investing activities
Property, plant and equipment additions in other accounts payable$1,292$1,840
Non-cash financing activities
Unsettled common stock repurchases$—$247
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.