Slide 1: Magnachip Semiconductor (NYSE: MX) Q2 2023 Earnings Materials
Magnachip Semiconductor (NYSE: MX) Q2 2023 Earnings Materials August 7, 2023 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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
Slide 3: Q2 2023 Financial Summary
Q2 2023 Financial Summary Revenue of $61.0 million was within our guidance range (vs $60.5M mid-point) Revenue Revenue: YoY revenue decreased 39.8% primarily due to: 1. The ongoing smartphone inventory correction and, 2. The supply shortage of 28nm 12-inch OLED wafers in 2021/2022 that impacted 2nd
Slide 4: Q2 2023 Report by Business Line
Q2 2023 Report by Business Line Q2 2023 Q1 2023 Q/Q Change Q2 2022 Y/Y Change Revenue $9.7 M $10.8 M down 10.9% $28.3 M down 65.9% OLED $5.9 M $8.0 M down 26.6% $24.6 M down 76.1% • Display revenue reflects the ongoing smartphone inventory correction and the continued impact of 2021/2022 supply shor
Slide 5: Q2 2023 Key Financials
Q2 2023 Key Financials (In $ millions, except for share data and days calculation) Profitability Q2 2023 Q1 2023 Q2 2022 Adjusted Operating Income (Loss) -$7.8 -$12.2 $4.8 Profitability Adjusted EBITDA -$3.6 -$7.9 $8.5 Adjusted Net Income (Loss) -$2.5 -$10.4 $10.6 Adjusted Earnings (Loss) -$0.06 -$0
Slide 6: Q3 2023 Outlook
Q3 2023 Outlook Key Metrics Guidance Revenue To be in the range of $59 million to $65 million, including about $8 million of Q3 2023 Transitional Fab 3 Foundry Services Guidance Gross Profit Margin To be in the range of 22.5% to 24.5% 6
Slide 7: Q2 2023 Financial Highlights
Q2 2023 Financial Highlights (1) Following the consummation of the sale of the Foundry Services Group business and Fab 4 in Q3 2020, and for a period of up to three years, we will provide transitional foundry services to the buyer for foundry products manufactured in our fabrication facility located
Slide 8: Appendix: GAAP to Non-GAAP Reconciliation
Appendix:Appendix: GAAP to Non-GAAP GAAP Reconciliation to Non-GAAP Reconciliation (In thousands of U.S. dollars) We present Adjusted Operating Income (Loss) as a supplemental measure of our performance. We define Adjusted Operating Income (Loss) for the periods indicated as operating income (loss)
Slide 9: Appendix: GAAP to Non-GAAP Reconciliation
Appendix:Appendix: GAAP to Non-GAAP GAAP Reconciliation to Non-GAAP Reconciliation (In thousands of U.S. dollars, except share data) We present Adjusted EBITDA and Adjusted Net Income (Loss) as supplemental measures of our performance. We define Adjusted EBITDA for the periods indicated as EBITDA (a