Magnachip Semiconductor Corporation · NYSE:MX
Magnachip Semiconductor — Q1 2023 Earnings Presentation
9 slides from Magnachip Semiconductor's earnings presentation, May 3, 2023
Slide 1: Magnachip Semiconductor Q1 2023 Earnings Materials
Magnachip Semiconductor (NYSE: MX) Q1 2023 Earnings Materials May 3, 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: Q1 2023 Highlights
Q1 2023 Highlights Revenue of $57.0 million was within our guidance range. Revenue YoY, revenue decreased 45.2% primarily due to continued effects of last year’s 28nm wafer supply shortage that impacted 2nd half 2022 design wins and the ongoing inventory correction driven by weak consumer demand. Gr
Slide 4: Q1 2023 Report by Business Line
Q1 2023 Report by Business Line Q1 2023 Q4 2022 Q/Q Change Q1 2022 Y/Y Change Revenue $10.8 M $7.6 M up 43.5% $29.2 M down 62.9% OLED $8.0 M $5.5 M up 44.7% $26.1 M down 69.2% • Display revenue reflects the continued impact of last year’s wafer supply shortage, which impacted 2nd half design wins an
Slide 5: Q1 2023 Key Financials
Q1 2023 Key Financials (In $ millions, except for share data and days calculation) Profitability Q1 2023 Q4 2022 Q1 2022 Adjusted Operating Income (Loss) -$12.2 -$8.6 $14.5 Profitability Adjusted EBITDA -$7.9 -$4.8 $18.8 Adjusted Net Income (Loss) -$10.4 -$15.8 $12.9 Adjusted Earnings (Loss) -$0.24
Slide 6: Q2 2023 Outlook
Q2 2023 Outlook • We expect our results to remain soft in the near term, but we believe both Display and Power are poised for a recovery in the second half of this year based on our current customer feedback. Based on our current projections, and assuming a steady state global economy, we are cautio
Slide 7: Q1 2023 Financial Highlights
Q1 2023 Financial Highlights In thousands of U.S. dollars, except share data GAAP Q1 2023 Q4 2022 Q/Q change Q1 2022 Y/Y change Revenues Standard Products Business Display Solutions 10,841 7,556 up 43.5% 29,185 down 62.9% Power Solutions 40,673 46,271 down 12.1% 64,825 down 37.3% Transitional Fab 3
Slide 8: Appendix: GAAP to Non-GAAP Reconciliation
Appendix:Appendix: GAAP to Non-GAAP GAAP Reconciliation to Non-GAAP Reconciliation Three Months Ended (In thousands of U.S. dollars) March 31, December 31, March 31, 2023 2022 2022 Operating income (loss) $ (21,818) $ (10,117) $ 12,879 Adjustments: Equity-based compensation expense 1,120 1,550 1,638
Slide 9: Appendix: GAAP to Non-GAAP Reconciliation
Appendix: GAAP to Non-GAAP Reconciliation Appendix: GAAP to Non-GAAP Reconciliation Three Months Ended (In thousands of U.S. dollars, except share data) March 31, December 31, March 31, 2023 2022 2022 Net income (loss) $ (21,470) $ 2,971 $ 9,528 Adjustments: Interest income (2,842) (2,420) (715) Int
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