0001193125-25-173550 | 10-Q | XBRL Viewer | Magnachip Semiconductor Corp

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Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2025
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company and its subsidiaries file income tax returns in Korea, Japan, Taiwan, the U.S. and in various other jurisdictions. The Company is subject to income or non-income tax examinations by tax authorities of these jurisdictions for all open tax years. For the three and six months ended June 30, 2025, the Company recorded an income tax benefit of $4,136 thousand and $4,537 thousand, primarily related to its primary operating entity in Korea based on the estimated taxable loss for the respective period, including loss recognized in connection with the shutdown of the discontinued Display business during the second quarter of 2025. For the three and six months ended June 30, 2024, the Company recorded an income tax benefit of $5,385 thousand and $3,480 thousand, primarily due to the estimated taxable loss for the respective period from its primary operating entity in Korea for continuing operations. On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted, which includes permanent extensions of most expiring Tax Cuts and Jobs Act provisions and international tax changes. The Company is still evaluating the potential impacts of the OBBBA on its consolidated financial statements.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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+ Details

Accrued Severance Benefits

6 Months Ended

Jun. 30, 2025

Postemployment Benefits [Abstract]

Accrued Severance Benefits

10. Accrued Severance Benefits

The majority of accrued severance benefits are for employees in the Company’s Korean subsidiaries. Pursuant to the Employee Retirement Benefit Security Act of Korea, eligible employees and executive officers with one or more years of service are entitled to severance benefits upon the termination of their employment based on their length of service and rate of pay. As of June 30, 2025, 96% of all employees of the Company were eligible for severance benefits.

Changes in accrued severance benefits are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2025						June 30, 2024
Beginning balance	$	46,886		$	45,594		$	44,484		$	45,932
Provisions		661			2,175			1,565			2,970
Severance payments		(9,518	)		(9,843	)		(478	)		(1,362	)
Translation adjustments		3,552			3,655			(1,373	)		(3,342	)

		41,581			41,581			44,198			44,198
Less: Cumulative contributions to severance insurance deposit accounts		(27,313	)		(27,313	)		(28,412	)		(28,412	)
The National Pension Fund		(20	)		(20	)		(27	)		(27	)

Accrued severance benefits, net	$	14,248		$	14,248		$	15,759		$	15,759

The severance benefits funded through the Company’s National Pension Fund have been and will be used exclusively for payment of severance benefits to eligible employees. These amounts have been deducted from the accrued severance benefit balance.

Beginning in July 2018, the Company contributes to certain severance insurance deposit accounts a certain percentage of severance benefits that are accrued for eligible employees for their services from January 1, 2018 pursuant to Employee Retirement Benefit Security Act of Korea. These accounts consist of time deposits and other guaranteed principal and interest, and are maintained at insurance companies, banks or security companies for the benefit of employees. The Company deducts the contributions made to these severance insurance deposit accounts from its accrued severance benefits.

The Company is liable to pay the following future benefits to its

non-executive

employees upon their normal retirement age (in thousands):


	Severance benefit
2026	$	98
2027	$	557
2028	$	110
2029	$	2,287
2030	$	2,727
2031 – 2036	$	17,914

The above amounts were determined based on the

non-executive

employees’ current salary rates and the number of service years that will be accumulated upon their retirement dates. These amounts do not include amounts that might be paid to

non-executive

employees that will cease working with the Company before their normal retirement ages.

Korea’s mandatory retirement age is 60 years of age or older under the Employment Promotion for the Aged Act. The Company sets the retirement age of employees at 60.

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

Property, plant and equipment as of June 30, 2025 and December 31, 2024 are comprised of the following (in thousands):


	June 30, 2025			December 31, 2024
Buildings and related structures	$	23,705		$	21,873
Machinery and equipment		141,153			126,971
Finance lease right-of-use assets		622			606
Others		35,896			33,274

		201,376			182,724
Less: accumulated depreciation		(131,561	)		(115,236	)
Land		12,178			11,237
Construction in progress		12,269			2,738

Property, plant and equipment, net	$	94,262		$	81,463

Aggregate depreciation expenses associated with our continuing operations totaled $6,517 thousand and $7,229 thousand for the six months ended June 30, 2025 and 2024, respectively.

On March 26, 2024, Magnachip Semiconductor, Ltd., a Korean limited liability company (“MSK”) and indirect wholly owned subsidiary of the Company, executed a Standard Credit Agreement (together with its General Terms and Conditions, the “Loan Agreement”) with Korea Development Bank (“KDB”). In connection with the Loan Agreement, on March 26, 2024, MSK entered into a

Kun-Pledge

(Mortgage) Agreement (the “Pledge Agreement”) with KDB pursuant to which MSK pledged its real property and buildings located in Gumi, Korea in favor of KDB.

On December 16, 2024, MSK executed a Standard Credit Agreement (as amended) (together with its General Terms and Conditions, the “Equipment Financing Credit Agreement”) with KDB. In connection with the Equipment Financing Credit Agreement, on December 8, 2024, MSK amended the

Kun-Pledge

Agreement (the “Equipment Pledge Agreement”) with KDB, originally executed on or about March 26, 2024, to increase the maximum secured amount and to expand the scope of collateral to include certain machinery and equipment owned by MSK, which are located in its fabrication facility located in Gumi, Korea.

See “Note 11. Long-Term Borrowings” to these consolidated financial statements below for more information regarding the Loan Agreement.

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 6,747		$ 7,802
Semi-finished goods and work-in-process	34,517		26,797
Raw materials	4,660		3,607
Materials in-transit	142		61
Less: inventory reserve	(8,495)	$ (8,754)	(7,732)	$ (8,541)	$ (8,947)	$ (10,599)
Inventories, net	$ 37,571		$ 30,535

Leases - Other lease information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 491	$ 513	$ 1,151	$ 1,032
Operating cash flows from finance leases	8	9	15	19
Financing cash flows from finance leases	$ 40	$ 34	$ 78	$ 69
Weighted average remaining lease term
Operating leases	2 years		2 years		2 years 6 months
Finance leases	2 years 6 months		2 years 6 months		2 years 10 months 24 days
Weighted average discount rate
Operating leases	6.60%		6.60%		6.80%
Finance leases	7.10%		7.10%		7.10%

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Prepayments to suppliers	$ 565	$ 2,294

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business, Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2025
Accounting Policies [Abstract]
Business	Business Magnachip Semiconductor Corporation (together with its subsidiaries, the “Company”) is a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions for various applications, including industrial, automotive, communication, consumer and computing. The Company develops and manufactures Power discrete products and develops Power integrated circuit (“IC”) products. Power discrete products include metal oxide semiconductor field effect transistors (“MOSFETs”) and insulated-gate bipolar transistors (“IGBTs”) for a range of devices, including televisions, smartphones, mobile phones, wearable devices, desktop personal computers (“PCs”), notebook PCs, tablet PCs, servers, other consumer electronics, as well as automotive and industrial applications such as power suppliers, e-bikes, solar inverters, LED lighting and motor drives. Power IC products include AC-DC/DC-DC converters, LED drivers, regulators, power management integrated circuits (“PMICs”) and level shifter for a range of devices, including televisions, wearable devices, notebooks, tablet PCs and others consumer electronics, as well as automotive applications. In 2024, the Power IC business was operated by Magnachip Mixed-Signal, Ltd. (“MMS”), which later transferred the business to Magnachip Semiconductor, Ltd. (“MSK”) effective January 1, 2025, pursuant to an intercompany business transfer agreement executed between MMS and MSK. The transfer was based on the mutual understanding that consolidating the Power IC and Power Analog Solutions businesses under a single company would create a more effective framework for expanding and strengthening the Company’s business for Power products.
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). These interim consolidated financial statements include normal recurring adjustments and the elimination of all intercompany accounts and transactions which are, in the opinion of management, necessary to provide a fair statement of the Company’s financial condition and results of operations for the periods presented. These interim consolidated financial statements are presented in accordance with Accounting Standards Codification (“ASC”) 270, “Interim Reporting” and, accordingly, do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements, except for the changes below. The Company has reclassified certain prior year amounts to conform to the current year’s presentation for discontinued operations to reflect a plan to shut down the Company’s Display business and transition into a pure-play Power company. The assets and liabilities related to the discontinued Display business have not been reclassified on the consolidated balance sheets as of June 30, 2025. See Note 2 “Discontinued Operations” for additional information. The consolidated statements of cash flows have not been adjusted to separately disclose cash flows related to discontinued operations, but the material items in the operating and investing activities of cash flows relating to discontinued operations are disclosed in Note 2. Unless otherwise stated, information in these notes to consolidated financial statements relates to the Company’s continuing operations and excludes the discontinued operations. There have been no material changes to the Company’s significant accounting policies as of and for the six months ended June 30, 2025, except for those related to discontinued operations as described below, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
Recent Accounting Pronouncements Not Yet Adopted	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 January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. ASU 2024-03 requires public companies to disclose, in the notes to the financial statements, specific information about certain costs and expenses at 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 provide a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 is effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted and the amendments in this update may be applied prospectively or retrospectively. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which intends to enhance the transparency and decision usefulness of income tax disclosures. It requires public business entities to disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate for federal, state, and foreign income taxes. It also requires greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a specified threshold. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, though early adoption is permitted. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements and related disclosures.

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	$ 8,157	$ 7,599
Accumulated amortization	(7,657)	(7,092)
Intangible asset, Net amount	500	507
Intellectual Property Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	8,157	7,599
Accumulated amortization	(7,657)	(7,092)
Intangible asset, Net amount	$ 500	$ 507

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Geographic and Other Information - Additional Information (Detail) - Power solutions business	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Customer Concentration Risk [Member] \| Net Sales [Member] \| Taiwan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	10.70%	7.80%	11.00%	9.80%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Ten Customers [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	74.40%	74.00%	74.00%	72.60%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer One [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	29.40%		31.10%	26.30%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer Two [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage		24.70%		10.20%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer Three [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage		10.30%		10.10%
Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage			42.30%		42.30%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| Greater China (China and Hong Kong) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	80.80%	85.10%	81.90%	83.30%

Leases (Tables)

6 Months Ended

Jun. 30, 2025

Leases [Abstract]

Supplemental Balance Sheet Information Related To Leases

Supplemental balance sheets information related to leases as of June 30, 2025 and December 31, 2024 are as follows (in thousands):


Leases	Classification	June 30, 2025		December 31, 2024
Assets
Operating lease	Operating lease right-of-use assets	$	2,958	$	3,107
Finance lease	Property, plant and equipment, net		345		390

Total lease assets		$	3,303	$	3,497

Liabilities
Current
Operating lease	Operating lease liabilities	$	1,572	$	1,393
Finance lease	Other current liabilities		167		153
Non-current
Operating lease	Non-current operating lease liabilities		1,382		1,823
Finance lease	Other non-current liabilities		233		294

Total lease liabilities		$	3,354	$	3,663

Lease, Cost

The following table presents the weighted average remaining lease term and discount rate:


	June 30, 2025			December 31, 2024
Weighted average remaining lease term
Operating leases		2.0 years			2.5 years
Finance leases		2.5 years			2.9 years
Weighted average discount rate
Operating leases		6.6	%		6.8	%
Finance leases		7.1	%		7.1	%

Other Lease Information

The components of lease cost from continuing operations included in the Company’s consolidated statements of operations, are as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Operating lease cost	$	516	$	502	$	1,038	$	1,010
Finance lease cost
Amortization of right-of-use assets		37		33		73		68
Interest on lease liabilities		8		9		15		19

Total lease cost	$	561	$	544	$	1,126	$	1,097

The above table does not include an immaterial cost of short-term leases for the three and six months ended June 30, 2025 and 2024.

Other lease information associated with continuing operations is as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	491	$	513	$	1,151	$	1,032
Operating cash flows from finance leases		8		9		15		19
Financing cash flows from finance leases		40		34		78		69

Schedule Of Future Lease Payments

The aggregate future lease payments for operating and finance leases as of June 30, 2025 are as follows (in thousands):


	Operating Leases			Finance Leases
Remainder of 2025	$	849		$	95
2026		1,575			178
2027		721			143
2028		11			19

Total future lease payments		3,156			435
Less: Imputed interest		(202	)		(35	)

Present value of future payments	$	2,954		$	400

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Earnings (Loss) Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Basic loss per common share
Income (Loss) from continuing operations	$ 8,486	$ (2,208)	$ 3,404	$ (16,492)
Loss from discontinued operations, net of tax	(8,163)	(10,789)	(11,959)	(11,922)
Net loss	$ 323	$ (12,997)	$ (8,555)	$ (28,414)
Basic weighted average common stock outstanding	36,083,703	38,174,920	36,483,551	38,359,851
Basic loss per common share
Continuing operations	$ 0.24	$ (0.06)	$ 0.09	$ (0.43)
Discontinued operations	(0.23)	(0.28)	(0.32)	(0.31)
Basic loss per common share	$ 0.01	$ (0.34)	$ (0.23)	$ (0.74)
Diluted loss per common share
Net loss Net loss allocated to common stockholders	$ 323	$ (12,997)	$ (8,555)	$ (28,414)
Basic weighted average common stock outstanding	36,083,703	38,174,920	36,483,551	38,359,851
Net effect of dilutive equity awards	684,944	0	726,071	0
Diluted weighted average common stock outstanding	36,768,647	38,174,920	37,209,622	38,359,851
Continuing operations	$ 0.23	$ (0.06)	$ 0.09	$ (0.43)
Discontinued operations	(0.22)	(0.28)	(0.32)	(0.31)
Diluted loss per common share	$ 0.01	$ (0.34)	$ (0.23)	$ (0.74)

Discontinued Operations - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2025 USD ($)	Jun. 30, 2025 USD ($)
Discontinued Operation [Line Items]
Termination Charges	$ 6,500
Amount Paid For Statutory Severance And Other Employee Related Costs	6,500
Korean Subsidiary [Member]
Discontinued Operation [Line Items]
Sale of EOL Display products and the potential monetization	20,000	$ 20,000
Discontinued Operations [Member]
Discontinued Operation [Line Items]
Impairment charges	7,362	$ 7,362
Minimum [Member]
Discontinued Operation [Line Items]
Estimated Cash Cost Of Liquidation	12,000
Maximum [Member]
Discontinued Operation [Line Items]
Estimated Cash Cost Of Liquidation	$ 15,000

Geographic and Other Information - Schedule of Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Segment Reporting Information [Line Items]
Total revenues	$ 47,622	$ 46,400	$ 92,344	$ 89,838
Total cost of sales	37,910	36,614	73,270	73,693
Total gross profit	9,712	9,786	19,074	16,145
Power solutions business
Segment Reporting Information [Line Items]
Total revenues	47,622	44,064	92,344	83,976
Total gross profit	9,712	9,907	19,074	16,951
Power solutions business \| Power Analog Solutions [Member]
Segment Reporting Information [Line Items]
Total gross profit	7,709	7,715	14,809	13,349
Power solutions business \| Power Ic [Member]
Segment Reporting Information [Line Items]
Total gross profit	2,003	2,192	4,265	3,602
Fab 3 Foundry Services [Member]
Segment Reporting Information [Line Items]
Total revenues	0	2,336	0	5,862
Total cost of sales	0	2,457	0	6,668
Total gross profit	0	(121)	0	(806)
Operating Segments [Member] \| Power solutions business
Segment Reporting Information [Line Items]
Total revenues	47,622	44,064	92,344	83,976
Total cost of sales	37,910	34,157	73,270	67,025
Operating Segments [Member] \| Power solutions business \| Power Analog Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	42,261	39,240	82,118	75,775
Total cost of sales	34,552	31,525	67,309	62,426
Operating Segments [Member] \| Power solutions business \| Power Ic [Member]
Segment Reporting Information [Line Items]
Total revenues	5,361	4,824	10,226	8,201
Total cost of sales	$ 3,358	$ 2,632	$ 5,961	$ 4,599

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Indefinite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	$ 132	$ 166

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2025
Subsequent Events [Abstract]
Subsequent Events	19. Subsequent Events Derivative contracts In July 2025, the Company and NFIK entered into derivative contracts of zero cost collars for the period from April 2026 to September 2026. The total notional amounts are $18,000 thousand. Stock Repurchase In July 2025, the Company repurchased 30,005 shares of its common stock in the open market for an aggregate purchase price of $0.1 million and a weighted average price per share of $3.92 under the stock repurchase program.

Discontinued Operations - Schedule of Results From Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Operating expenses:
Loss from discontinued operations, net of tax	$ (8,163)	$ (10,789)	$ (11,959)	$ (11,922)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	7,730	6,771	17,286	12,400
Cost of sales	4,068	4,956	10,507	7,976
Gross profit	3,662	1,815	6,779	4,424
Operating expenses:
Early termination charges	1,561		1,561
Impairment and other charges	7,460		7,587
Total operating expenses	11,194	8,916	18,135	15,593
Operating loss from discontinued operations	(7,532)	(7,101)	(11,356)	(11,169)
Interest income	82	94	208	166
Interest expense	(93)	(67)	(187)	(120)
Foreign currency gain (loss), net	(437)	68	(441)	55
Other income, net	5		5
Loss from discontinued operations before income tax expense	(7,975)	(7,006)	(11,771)	(11,068)
Income tax expense, net	188	3,783	188	854
Loss from discontinued operations, net of tax	(8,163)	(10,789)	(11,959)	(11,922)
Selling, general and administrative expenses \| Discontinued Operations
Operating expenses:
Total operating expenses	(304)	1,999	728	3,723
Research and development expenses \| Discontinued Operations
Operating expenses:
Total operating expenses	$ 2,477	$ 6,917	$ 8,259	$ 11,870

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 201,376	$ 182,724
Less: accumulated depreciation	(131,561)	(115,236)
Land	12,178	11,237
Construction in progress	12,269	2,738
Property, plant and equipment, net	94,262	81,463
Buildings and Related Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	23,705	21,873
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	141,153	126,971
Finance Lease Right-of-Use Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	622	606
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 35,896	$ 33,274

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] $ / shares in Units, $ in Thousands	1 Months Ended
	Jul. 31, 2025 USD ($) $ / shares shares
Common Stock [Member]
Repurchase Of Common Stock, Shares \| shares	30,005
Accelerated share repurchases, final price paid per share	$ 3.92
Sale of stock issue price (in dollars per share)	$ 100,000
Commodity Contract [Member]
Derivative, Notional Amount \| $	$ 18,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Payables and Accruals [Abstract]
Payroll, benefits and related taxes, excluding severance benefits	$ 6,077	$ 5,518
Withholding tax attributable to intercompany interest income	677	1,419
Outside service fees	1,192	1,221
Others	483	490
Accrued expenses	$ 8,429	$ 8,648

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ (4,136)	$ (5,385)	$ (4,537)	$ (3,480)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

17. Earnings (Loss) Per Share

The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2025 and 2024:


	Three Months Ended						Six Months Ended
	June 30, 2025			June 30, 2024			June 30, 2025			June 30, 2024
	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per common share
Income (Loss) from continuing operations	$	8,486		$	(2,208	)	$	3,404		$	(16,492	)
Loss from discontinued operations, net of tax		(8,163	)		(10,789	)		(11,959	)		(11,922	)

Net income (loss)	$	323		$	(12,997	)	$	(8,555	)	$	(28,414	)

Basic weighted average common stock outstanding		36,083,703			38,174,920			36,483,551			38,359,851
Basic earnings (loss) per common share
Continuing operations	$	0.24		$	(0.06	)	$	0.09		$	(0.43	)
Discontinued operations		(0.23	)		(0.28	)		(0.32	)		(0.31	)

Total	$	0.01		$	(0.34	)	$	(0.23	)	$	(0.74	)

Diluted earnings (loss) per common share
Income (Loss) from continuing operations	$	8,486		$	(2,208	)	$	3,404		$	(16,492	)
Loss from discontinued operations, net of tax		(8,163	)		(10,789	)		(11,959	)		(11,922	)

Net income (loss)	$	323		$	(12,997	)	$	(8,555	)	$	(28,414	)

Basic weighted average common stock outstanding		36,083,703			38,174,920			36,483,551			38,359,851
Net effect of dilutive equity awards		684,944			—			726,071			—

Diluted weighted average common stock outstanding		36,768,647			38,174,920			37,209,622			38,359,851
Diluted earnings (loss) per common share
Continuing operations	$	0.23		$	(0.06	)	$	0.09		$	(0.43	)
Discontinued operations		(0.22	)		(0.28	)		(0.32	)		(0.31	)

Total	$	0.01		$	(0.34	)	$	(0.23	)	$	(0.74	)

Diluted earnings (loss) per common share adjusts basic earnings (loss) per common share for the potentially dilutive impact of stock options and restricted stock units. As the Company has reported loss from continuing operations for the three and six months ended June 30, 2024, all potentially dilutive securities are antidilutive and accordingly not considered, therefore basic loss per common share equals diluted loss per common share.

The following outstanding instruments were excluded from the computation of diluted earnings (loss) per common share, as they have an anti-dilutive effect on the calculation:


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Options		464,065		757,158		464,065		757,158
Restricted Stock Units		—		2,476,131		—		2,476,131

Leases - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Non cash transaction amount of lease liabilities arisinf from obtaining right of use assets	$ 1,147	$ 627
Minimum [Member]
Lease Agreements Remaining Term of Lease	1 year
Maximum [Member]
Lease Agreements Remaining Term of Lease	4 years

Foreign Currency Gain (Loss), Net	6 Months Ended
Foreign Currency Gain (Loss), Net	Jun. 30, 2025
Foreign Currency [Abstract]
Foreign Currency Gain (Loss), Net	12. Foreign Currency Gain (Loss), Net Net foreign currency gain or loss includes non-cash translation gain or loss associated with intercompany balances. A substantial portion of the Company’s net foreign currency gain or loss is non-cash translation gain or loss associated with intercompany long-term loans to MSK, the Company’s Korean subsidiary. The loans are denominated in U.S. dollars and are affected by changes in the exchange rate between the Korean won and the U.S. dollar. As of June 30, 2025 and December 31, 2024, the outstanding intercompany loan balances including accrued interest between MSK and the Dutch subsidiary were $241,695 thousand and $257,670 thousand, respectively. The Korean won to U.S. dollar exchange rates were 1,356.4:1 and 1,470.0:1 using the first base rate as of June 30, 2025 and December 31, 2024, respectively, as quoted by the KEB Hana Bank.

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

+ References + Details

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2025

Discontinued Operations and Assets Held for Sale [Abstract]

Schedule of results from discontinued operations

The following table summarizes the

results

from discontinued operations, net of tax, for the three and six months ended June 30, 2025 and 2024 (in thousands):


	Three Months Ended						Six Months Ended
	June 30, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Net sales	$	7,730		$	6,771		$	17,286		$	12,400
Cost of sales		4,068			4,956			10,507			7,976

Gross profit		3,662			1,815			6,779			4,424
Operating expenses:
Selling, general and administrative expenses		(304	)		1,999			728			3,723
Research and development expenses		2,477			6,917			8,259			11,870
Early termination charges		1,561			—			1,561			—
Impairment and other charges		7,460			—			7,587			—

Total operating expenses		11,194			8,916			18,135			15,593

Operating loss from discontinued operations		(7,532	)		(7,101	)		(11,356	)		(11,169	)
Interest income		82			94			208			166
Interest expense		(93	)		(67	)		(187	)		(120	)
Foreign currency gain (loss), net		(437	)		68			(441	)		55
Other income, net		5			—			5			—

Loss from discontinued operations before income tax expense		(7,975	)		(7,006	)		(11,771	)		(11,068	)
Income tax expense, net		188			3,783			188			854

Loss from discontinued operations, net of tax	$	(8,163	)	$	(10,789	)	$	(11,959	)	$	(11,922	)

Schedule of cash flow information related to discontinued operation

The following table provides supplemental cash flows information related to discontinued operations (in thousands):


	Six Months Ended
	June 30, 2025			June 30, 2024
Significant non-cash operating activities:
Depreciation and amortization	$	12		$	719
Provision for severance benefits		(243	)		637
Stock-based compensation		(353	)		235
Impairment charges		7,362			—
Investing activities:
Capital expenditures	$	—		$	—

Schedule Of Discontinued Operation Income Loss From Discontinued Operation Disclosures

The following table presents the revenue, gross profit and operating expenses related to the Company’s continuing involvement with the Discontinued Business for the periods presented (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2025
Net sales	$	2,318	$	2,318
Gross profit		933		933
Operating expenses		143		143

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3

+ Details

Leases - Supplemental Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Assets
Operating lease	$ 2,958	$ 3,107
Total lease assets	3,303	3,497
Current
Operating	1,572	1,393
Non-current
Operating	1,382	1,823
Total lease liabilities	3,354	3,663
Operating Lease Right Of Use Assets [Member]
Assets
Operating lease	2,958	3,107
Property, Plant and Equipment, Net [Member]
Assets
Finance lease	$ 345	$ 390
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Current Operating Lease Liabilities [Member]
Current
Operating	$ 1,572	$ 1,393
Other Current Liabilities [Member]
Current
Finance	$ 167	$ 153
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Non Current Operating Lease Liabilities [Member]
Non-current
Operating	$ 1,382	$ 1,823
Other Noncurrent Liabilities [Member]
Non-current
Finance	$ 233	$ 294
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Geographic and Other Information - Schedule of Product Categories (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues	$ 47,622	$ 46,400	$ 92,344	$ 89,838
Power Solution Business [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		50,835		96,376
Power Solution Business [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		11,595		20,601
Power Solution Business [Member] \| Power Analog Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		39,240		75,775
Power Solution Business [Member] \| Other Solutions Business [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		50,835		96,376
Power Solution Business [Member] \| Other Solutions Business [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		11,595		20,601
Power Solution Business [Member] \| Other Solutions Business [Member] \| Power Analog Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		39,240		75,775
Power Solution Business [Member] \| Power Analog Solutions Business [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		39,240		75,775
Power Solution Business [Member] \| Power Analog Solutions Business [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		0		0
Power Solution Business [Member] \| Power Analog Solutions Business [Member] \| Power Analog Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		39,240		75,775
Power Solution Business [Member] \| Power Ic [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		4,824		8,201
Power Solution Business [Member] \| Power Ic [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		4,824		8,201
Power Solution Business [Member] \| Power Ic [Member] \| Power Analog Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		0		0
Power Solution Business [Member] \| Discontinued Operation [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		6,771		12,400
Power Solution Business [Member] \| Discontinued Operation [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		6,771		12,400
Power Solution Business [Member] \| Discontinued Operation [Member] \| Power Analog Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		$ 0		$ 0

- Definition

+ References

+ Details

Accrued Severance Benefits - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2025
Retirement age of employees	60 years
Korea [Member] \| Minimum [Member]
Korea's mandatory retirement age	60 years

Derivative Financial Instruments - Cash deposits (Detail) - Zero Cost Collar And Forward Contracts [Member] - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Deposit Assets [Line Items]
Deposit with counterparty	$ 0	$ 1,000
SC [Member]
Deposit Assets [Line Items]
Deposit with counterparty	$ 0	$ 1,000

Discontinued Operations

6 Months Ended

Jun. 30, 2025

Discontinued Operations and Assets Held for Sale [Abstract]

Discontinued Operations

2. Discontinued Operations

On March 7, 2025, the Company’s Board of Directors authorized a strategy to transition to a pure-play Power company, focusing its investments on the Power Analog Solutions and Power IC businesses to enhance profitability and maximize shareholder value. As part of this strategy, the Company explored all strategic options including a sale, merger, joint venture, licensing, and wind-down for its Display business (Display IC products). However, the Company was not able to consummate a transaction following several months of discussions with several interested parties on terms that the Company’s Board of Directors believed were in the best interests of the Company and its stockholders.

Accordingly, on April 6, 2025, the Company’s Board of Directors unanimously approved the plan to shut down the Company’s Display business (the “Discontinued Business”), including the liquidation of MMS, the Company’s indirect wholly owned subsidiary that operated the Discontinued Business. As a result, the Display business qualifies as a discontinued operation in accordance with ASC

205-20.

The following table summarizes the

results

from discontinued operations, net of tax, for the three and six months ended June 30, 2025 and 2024 (in thousands):


	Three Months Ended						Six Months Ended
	June 30, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Net sales	$	7,730		$	6,771		$	17,286		$	12,400
Cost of sales		4,068			4,956			10,507			7,976

Gross profit		3,662			1,815			6,779			4,424
Operating expenses:
Selling, general and administrative expenses		(304	)		1,999			728			3,723
Research and development expenses		2,477			6,917			8,259			11,870
Early termination charges		1,561			—			1,561			—
Impairment and other charges		7,460			—			7,587			—

Total operating expenses		11,194			8,916			18,135			15,593

Operating loss from discontinued operations		(7,532	)		(7,101	)		(11,356	)		(11,169	)
Interest income		82			94			208			166
Interest expense		(93	)		(67	)		(187	)		(120	)
Foreign currency gain (loss), net		(437	)		68			(441	)		55
Other income, net		5			—			5			—

Loss from discontinued operations before income tax expense		(7,975	)		(7,006	)		(11,771	)		(11,068	)
Income tax expense, net		188			3,783			188			854

Loss from discontinued operations, net of tax	$	(8,163	)	$	(10,789	)	$	(11,959	)	$	(11,922	)

For the three and six months ended June 30, 2025, the Company recognized the impairment charges of $7,362 thousand, primarily related to certain design tool software contracts in connection with the

liquidation

of MMS.

The following table provides supplemental cash flows information related to discontinued operations (in thousands):


	Six Months Ended
	June 30, 2025			June 30, 2024
Significant non-cash operating activities:
Depreciation and amortization	$	12		$	719
Provision for severance benefits		(243	)		637
Stock-based compensation		(353	)		235
Impairment charges		7,362			—
Investing activities:
Capital expenditures	$	—		$	—

Although the Company ceased active operations of its Display business, it continues to have limited involvement post-shut down. Specifically, the Company’s Korean subsidiary, MSK, will continue to fulfill remaining customer obligations, including the sale of certain “end of life” (“EOL”) Display products. A small team has been retained to manage this transition and provide ongoing customer support.

As such, the result of these limited ongoing activities do not qualify for presentation as part of continuing operations and are instead presented as part of discontinued operations. The following table presents the revenue, gross profit and operating expenses related to the Company’s continuing involvement with the Discontinued Business for the periods presented (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2025
Net sales	$	2,318	$	2,318
Gross profit		933		933
Operating expenses		143		143

The sale of EOL

Display

products and the potential monetization of the intellectual property assets of the Discontinued Business are currently expected to generate cash inflow of approximately $20 million over a period of approximately 2 years from the second half of 2025, depending upon customer demand and monetization efforts of the Display intellectual property assets.

The total estimated cash cost of the liquidation is approximately $12 to $15 million, which is expected to be offset by the cash inflow that may be generated as described above. The

one-time

liquidation cost is expected to consist of statutory severance and other employee-related costs, contract termination charges and other associated costs. Of this estimated total cash cost, the Company paid $6.5 million of statutory severance and other employee-related costs in the second quarter of 2025. Further, the Company originally expected to pay certain contract termination charges in full along with the statutory severance and other employee-related costs, but negotiated with the respective vendors for those contract termination charges totaling $6.5 million to be paid over the duration of the remaining existing contract terms.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 113,326	$ 138,610
Accounts receivable, net	28,784	28,402
Inventories, net	37,571	30,535
Other receivables	8,329	4,444
Prepaid expenses	6,518	10,379
Hedge collateral (Note 8)	0	2,080
Other current assets (Note 18)	4,926	4,779
Total current assets	199,454	219,229
Property, plant and equipment, net	94,262	81,463
Operating lease right-of-use assets	2,958	3,107
Intangible assets, net	500	507
Long-term prepaid expenses, net	255	165
Deferred income taxes	57,298	52,889
Other non-current assets	15,804	21,956
Total assets	370,531	379,316
Current liabilities
Accounts payable	19,448	21,642
Other accounts payable	11,900	10,764
Accrued expenses (Note 7)	8,429	8,648
Accrued income taxes	84	56
Operating lease liabilities	1,572	1,393
Other current liabilities	1,483	3,765
Total current liabilities	42,916	46,268
Long-term borrowings	36,508	27,211
Accrued severance benefits, net	14,248	17,094
Non-current operating lease liabilities	1,382	1,823
Other non-current liabilities	5,315	10,123
Total liabilities	100,369	102,519
Commitments and contingencies (Note 18)
Stockholders' equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 57,581,275 shares issued and 35,954,038 outstanding at June 30, 2025 and 57,498,507 shares issued and 36,912,118 outstanding at December 31, 2024	575	574
Additional paid-in capital	280,853	279,423
Retained earnings	236,021	244,576
Treasury stock, 21,627,237 shares at June 30, 2025 and 20,586,389 shares at December 31, 2024, respectively	(229,381)	(225,883)
Accumulated other comprehensive loss	(17,906)	(21,893)
Total stockholders' equity	270,162	276,797
Total liabilities and stockholders' equity	$ 370,531	$ 379,316

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

Property, plant and equipment as of June 30, 2025 and December 31, 2024 are comprised of the following (in thousands):


	June 30, 2025			December 31, 2024
Buildings and related structures	$	23,705		$	21,873
Machinery and equipment		141,153			126,971
Finance lease right-of-use assets		622			606
Others		35,896			33,274

		201,376			182,724
Less: accumulated depreciation		(131,561	)		(115,236	)
Land		12,178			11,237
Construction in progress		12,269			2,738

Property, plant and equipment, net	$	94,262		$	81,463

Long-Term Borrowings	6 Months Ended
Long-Term Borrowings	Jun. 30, 2025
Debt Disclosure [Abstract]
Long-term Borrowings	11. Long-Term Borrowings Term Loan On March 26, 2024, Magnachip Semiconductor, Ltd., a Korean limited liability company (“MSK”) and indirect wholly owned subsidiary of the Company, executed a Standard Credit Agreement (together with its General Terms and Conditions, the “Loan Agreement”) with Korea Development Bank (“KDB”). In connection with the Loan Agreement, on March 26, 2024, MSK entered into a Kun-Pledge (Mortgage) Agreement (the “Pledge Agreement”) with KDB pursuant to which MSK pledged its real property and buildings located in Gumi, Korea (“Fab 3 properties”) in favor of KDB. The Loan Agreement provides for a working capital term loan (the “Term Loan”) of KRW 40,000,000,000 (approximately $29,835 thousand based on the KRW/USD exchange rate of 1,340.7:1 as of March 26, 2024 as quoted by KEB Hana Bank), which was funded in full to MSK on March 26, 2024. The Term Loan bears interest at a variable rate equal to the 3-month CD rate quoted by KDB, plus 1.21%, which rate is adjusted quarterly. The initial interest rate on the Term Loan was 4.86% per annum. The Term Loan requires monthly interest-only payments and matures on March 26, 2027, at which time the full principal balance will be due and payable. All obligations of MSK under the Loan Agreement and the Term Loan are secured by the Fab 3 properties pursuant to the Pledge Agreement. As of June 30, 2025, approximately $29,490 thousand aggregate principal amount of the Term Loan was outstanding. CAPEX Loans On December 16, 2024, MSK executed a Standard Credit Agreement (as amended) (together with its General Terms and Conditions, the “Equipment Financing Credit Agreement”) with KDB. In connection with the Equipment Financing Credit Agreement, on December 8, 2024, MSK also amended the Kun-Pledge Agreement (the “Equipment Pledge Agreement”) with KDB, originally executed on or about March 26, 2024, to increase the maximum secured amount and to expand the scope of collateral to include certain machinery and equipment owned by MSK, which are located in its fabrication facility located in Gumi, Korea (“Fab 3 machinery and equipment”). The Equipment Financing Credit Agreement provides for loans for MSK’s capital expenditures (the “CAPEX Loans”) up to an aggregate of KRW 38,000,000,000 ($26,523 thousand based on the KRW/USD exchange rate of 1,432.7:1 as of December 16, 2024 as quoted by KEB Hana Bank), which will be funded directly to capital expenditure supply vendors by KDB upon the submission of a request form by MSK with the necessary evidence such as purchase agreement, invoice and other documentation, as applicable. The CAPEX Loans will bear interest at a fixed rate quoted by the treasury bond market yield (a six-year Korea treasury bill rate). CAPEX Loans mature in ten years from the initial loan disbursement date (the “Maturity Date”), with an initial two-year (measured from the first loan disbursement date) interest-only payment period during which only interest is paid monthly, followed by eight years of amortizing payments where the principal is repaid in equal installments every three months and interest is paid monthly. The Equipment Financing Credit Agreement contains customary representations of MSK in connection with the execution of the agreement and with each borrowing of CAPEX Loans and customary terms and conditions for a secured equipment financing loan of this type in Korea. All obligations of MSK under the Equipment Financing Credit Agreement and CAPEX Loans are secured by certain Fab 3 machinery and equipment pursuant to the Equipment Pledge Agreement. As of June 30, 2025, approximately $7,018 thousand aggregate principal amount of the CAPEX Loans was outstanding, which bears interest at 2.68% per annum and matures on June 26, 2035.

Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

5. Intangible Assets

Intangible assets as of June 30, 2025 and December 31, 2024 are comprised of the following (in thousands):


	June 30, 2025
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	8,157	$	(7,657	)	$	500

Intangible assets	$	8,157	$	(7,657	)	$	500


	December 31, 2024
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	7,599	$	(7,092	)	$	507

Intangible assets	$	7,599	$	(7,092	)	$	507

Aggregate amortization expenses associated with our continuing operations totaled $132 thousand and $166 thousand for the six months ended June 30, 2025 and 2024, respectively.

Inventories (Tables)

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories as of June 30, 2025 and December 31, 2024 consist of the following (in thousands):


	June 30, 2025			December 31, 2024
Finished goods	$	6,747		$	7,802
Semi-finished goods and work-in-process		34,517			26,797
Raw materials		4,660			3,607
Materials in-transit		142			61
Less: inventory reserve		(8,495	)		(7,732	)

Inventories, net	$	37,571		$	30,535

Changes in Inventory Reserve

Changes in inventory reserve for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2025						June 30, 2024
Beginning balance	$	(8,754	)	$	(7,732	)	$	(8,947	)	$	(10,599	)
Change in reserve
Inventory reserve charged to costs of sales		(1,357	)		(3,656	)		(1,411	)		(2,961	)
Sale of previously reserved inventory		1,578			2,846			1,466			4,127

		221			(810	)		55			1,166
Write off		538			735			61			327
Translation adjustments		(500	)		(688	)		290			565

Ending balance	$	(8,495	)	$	(8,495	)	$	(8,541	)	$	(8,541	)

Accrued Severance Benefits (Tables)

6 Months Ended

Jun. 30, 2025

Postemployment Benefits [Abstract]

Changes in Accrued Severance Benefits

Changes in accrued severance benefits are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2025						June 30, 2024
Beginning balance	$	46,886		$	45,594		$	44,484		$	45,932
Provisions		661			2,175			1,565			2,970
Severance payments		(9,518	)		(9,843	)		(478	)		(1,362	)
Translation adjustments		3,552			3,655			(1,373	)		(3,342	)

		41,581			41,581			44,198			44,198
Less: Cumulative contributions to severance insurance deposit accounts		(27,313	)		(27,313	)		(28,412	)		(28,412	)
The National Pension Fund		(20	)		(20	)		(27	)		(27	)

Accrued severance benefits, net	$	14,248		$	14,248		$	15,759		$	15,759

Future Benefits Payments to Employees

The Company is liable to pay the following future benefits to its

non-executive

employees upon their normal retirement age (in thousands):


	Severance benefit
2026	$	98
2027	$	557
2028	$	110
2029	$	2,287
2030	$	2,727
2031 – 2036	$	17,914

Foreign Currency Gain (Loss), Net - Additional Information (Detail) $ in Thousands	Jun. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)
Foreign Currency Transaction [Abstract]
Exchange rates using first base rate	1,356.4	1,470
Intercompany loan balances	$ 241,695	$ 257,670

Leases - Aggregate future lease payment (Detail) $ in Thousands	Jun. 30, 2025 USD ($)
Leases [Abstract]
Operating Leases, Remainder of 2025	$ 849
Operating Leases, 2026	1,575
Operating Leases, 2027	721
Operating Leases, 2028	11
Operating Leases, Total future lease payments	3,156
Less: Imported interest	(202)
Present value of future payments	2,954
Finance Leases [Abstract]
Finance Leases, Remainder of 2025	95
Finance Leases, 2026	178
Finance Leases, 2027	143
Finance Leases, 2028	19
Finance Leases, Total future lease payments	435
Less: Present value adjustment	$ (35)
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Present value of future payments	$ 400

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets as of June 30, 2025 and December 31, 2024 are comprised of the following (in thousands):


	June 30, 2025
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	8,157	$	(7,657	)	$	500

Intangible assets	$	8,157	$	(7,657	)	$	500


	December 31, 2024
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	7,599	$	(7,092	)	$	507

Intangible assets	$	7,599	$	(7,092	)	$	507

Geographic and Other Information

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Geographic and Other Information

14. Geographic and

Other

Information

The Company operates within a single operating segment, Power solutions business, and also separately reports transitional Fab 3 foundry services revenue and cost of sales.

The Chief Executive Officer, as the chief operating decision maker (“CODM”), organizes the Company and measures performance of two business lines of Power Analog Solutions and Power IC in the Power solutions business at the level of revenue and gross profit margin by comparing actual results against previously forecasted targets.

The Company’s CODM does not evaluate the performance of each business line using any information, such as asset or liability.

Revenues for the three months ended June 30, 2024 from its previous product categories have been reclassified in order to conform to the current period presentation as follows (in thousands):


			Power Analog Solutions		Power IC		Discontinued Operations		Total
Mixed-Signal Solutions	$	11,595	$	—	$	4,824	$	6,771	$	11,595
Power Analog Solutions		39,240		39,240		—		—		39,240

	$	50,835	$	39,240	$	4,824	$	6,771	$	50,835

Revenues for the six months ended June 30, 2024 from its previous product categories have been reclassified in order to conform to the current period presentation as follows (in thousands):


			Power Analog Solutions		Power IC		Discontinued Operations		Total
Mixed-Signal Solutions	$	20,601	$	—	$	8,201	$	12,400	$	20,601
Power Analog Solutions		75,775		75,775		—		—		75,775

	$	96,376	$	75,775	$	8,201	$	12,400	$	96,376

The following sets forth information relating to the operating segment, Power solutions business, as well as the transitional Fab 3 foundry services (in thousands). For financial information below gross profit, including operating income and expenses as well as other income and expenses, please refer to the Company’s consolidated statement of operations.


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Revenues
Power solutions business
Power Analog Solutions	$	42,261	$	39,240	$	82,118	$	75,775
Power IC		5,361		4,824		10,226		8,201

Total Power solutions business		47,622		44,064		92,344		83,976
Transitional Fab 3 foundry services		—		2,336		—		5,862

Total revenues	$	47,622	$	46,400	$	92,344	$	89,838


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Cost of Sales
Power solutions business
Power Analog Solutions	$	34,552	$	31,525	$	67,309	$	62,426
Power IC		3,358		2,632		5,961		4,599

Total Power solutions business		37,910		34,157		73,270		67,025
Transitional Fab 3 foundry services		—		2,457		—		6,668

Total cost of sales	$	37,910	$	36,614	$	73,270	$	73,693


	Three Months Ended					Six Months Ended
	June 30, 2025		June 30, 2024			June 30, 2025		June 30, 2024
Gross Profit
Power solutions business
Power Analog Solutions	$	7,709	$	7,715		$	14,809	$	13,349
Power IC		2,003		2,192			4,265		3,602

Total Power solutions business		9,712		9,907			19,074		16,951
Transitional Fab 3 foundry services		—		(121	)		—		(806	)

Total gross profit	$	9,712	$	9,786		$	19,074	$	16,145

The

following

is a summary of net sales – Power solutions business by geographic region, based on the location to which the products are billed (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Korea	$	22,721	$	19,883	$	44,437	$	36,974
Asia Pacific (other than Korea)		22,445		22,601		43,437		43,690
United States		1,470		308		2,652		646
Europe		986		1,272		1,818		2,666

Total	$	47,622	$	44,064	$	92,344	$	83,976

For the three months ended June 30, 2025 and 2024, of the Company’s net sales – Power solutions business in Asia Pacific (other than Korea), net sales – Power solutions business in China and Hong Kong together represented 80.8% and 85.1%, respectively, and net sales – Power solutions business in Taiwan represented 10.7% and 7.8%, respectively. For the six months ended June 30, 2025 and 2024, of the Company’s net sales – Power solutions business in Asia Pacific (other than Korea), net sales – Power solutions business in China and Hong Kong represented 81.9% and 83.3%, respectively, and net sales – Power solutions business in Taiwan represented 11.0% and 9.8%, respectively.

Net sales from the Company’s top ten largest customers in the Power solutions business accounted for 74.4% and 74.0% for the

three

months ended June 30, 2025 and 2024, respectively, and 74.0% and 72.6% for the six months ended June 30, 2025 and 2024, respectively.

For the three months ended June 30, 2025, the Company had one customer that represented

29.4

% of net sales – Power solutions business. For the six months ended June 30, 2025, the Company had one customer that represented

31.1

% of its net sales – Power solutions business. For the three months ended June 30, 2024, the Company had two customers that represented

24.7

% and

10.3

% of its net sales – Power solutions business, respectively. For the six months ended June 30, 2024, the Company had three customers that represented

26.3

10.2

% and

10.1

% of its net sales – Power solutions business, respectively.

As of June 30, 2025, one customer of the Company’s Power solutions business accounted for 42.3% of its accounts receivable – Power solutions business. As of December 31, 2024, one customer of the Company’s Power solutions business accounted for 42.3% of its accounts receivable – Power solutions business.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following as of June 30, 2025 and December 31, 2024, respectively (in thousands):


	June 30, 2025			December 31, 2024
Foreign currency translation adjustments	$	(19,297	)	$	(20,927	)
Derivative adjustments		1,391			(966	)

Total	$	(17,906	)	$	(21,893	)

Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss for the three months ended June 30, 2025 and 2024 are as follows (in thousands):


Three Months Ended June 30, 2025	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,172	)	$	(305	)	$	(20,477	)

Other comprehensive income before reclassifications		260			1,617			1,877
Amounts reclassified from accumulated other comprehensive loss		615			79			694

Net current-period other comprehensive income		875			1,696			2,571

Ending balance	$	(19,297	)	$	1,391		$	(17,906	)


Three Months Ended June 30, 2024	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(18,845	)	$	145		$	(18,700	)

Other comprehensive loss before reclassifications		(1,591	)		(807	)		(2,398	)
Amounts reclassified from accumulated other comprehensive loss		—			527			527

Net current-period other comprehensive loss		(1,591	)		(280	)		(1,871	)

Ending balance	$	(20,436	)	$	(135	)	$	(20,571	)

Changes in accumulated other comprehensive loss for the six months ended June 30, 2025 and 2024 are as follows (in thousands):


Six Months Ended June 30, 2025	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,927	)	$	(966	)	$	(21,893	)

Other comprehensive income before reclassifications		1,015			1,753			2,768
Amounts reclassified from accumulated other comprehensive loss		615			604			1,219

Net current-period other comprehensive income		1,630			2,357			3,987

Ending balance	$	(19,297	)	$	1,391		$	(17,906	)



Six Months Ended June 30, 2024	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(15,348	)	$	691		$	(14,657	)

Other comprehensive loss before reclassifications		(5,088	)		(1,412	)		(6,500	)
Amounts reclassified from accumulated other comprehensive loss		—			586			586

Net current-period other comprehensive loss		(5,088	)		(826	)		(5,914	)

Ending balance	$	(20,436	)	$	(135	)	$	(20,571	)

Inventories

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

Inventories

3. Inventories

Inventories as of June 30, 2025 and December 31, 2024 consist of the following (in thousands):


	June 30, 2025			December 31, 2024
Finished goods	$	6,747		$	7,802
Semi-finished goods and work-in-process		34,517			26,797
Raw materials		4,660			3,607
Materials in-transit		142			61
Less: inventory reserve		(8,495	)		(7,732	)

Inventories, net	$	37,571		$	30,535

Changes in inventory reserve for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2025						June 30, 2024
Beginning balance	$	(8,754	)	$	(7,732	)	$	(8,947	)	$	(10,599	)
Change in reserve
Inventory reserve charged to costs of sales		(1,357	)		(3,656	)		(1,411	)		(2,961	)
Sale of previously reserved inventory		1,578			2,846			1,466			4,127

		221			(810	)		55			1,166
Write off		538			735			61			327
Translation adjustments		(500	)		(688	)		290			565

Ending balance	$	(8,495	)	$	(8,495	)	$	(8,541	)	$	(8,541	)

Inventory reserve represents the Company’s best estimate in value lost due to excessive inventory level, physical deterioration, obsolescence, changes in price levels, or other causes based on individual facts and circumstances. Inventory reserve relates to inventory items including finished goods, semi-finished goods,

work-in-process

and raw materials. Write off of this reserve is recognized only when the related inventory has been disposed or scrapped.

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	$ 269,201	$ 321,885	$ 276,797	$ 344,598
Total other comprehensive income (loss)	2,571	(1,871)	3,987	(5,914)
Balance ending	270,162	305,848	270,162	305,848
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(20,172)	(18,845)	(20,927)	(15,348)
Other comprehensive income (loss) before reclassifications	260	(1,591)	1,015	(5,088)
Amounts reclassified from accumulated other comprehensive loss	615	0	615	0
Total other comprehensive income (loss)	875	(1,591)	1,630	(5,088)
Balance ending	(19,297)	(20,436)	(19,297)	(20,436)
Derivative Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(305)	145	(966)	691
Other comprehensive income (loss) before reclassifications	1,617	(807)	1,753	(1,412)
Amounts reclassified from accumulated other comprehensive loss	79	527	604	586
Total other comprehensive income (loss)	1,696	(280)	2,357	(826)
Balance ending	1,391	(135)	1,391	(135)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(20,477)	(18,700)	(21,893)	(14,657)
Other comprehensive income (loss) before reclassifications	1,877	(2,398)	2,768	(6,500)
Amounts reclassified from accumulated other comprehensive loss	694	527	1,219	586
Total other comprehensive income (loss)	2,571	(1,871)	3,987	(5,914)
Balance ending	$ (17,906)	$ (20,571)	$ (17,906)	$ (20,571)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Derivative Financial Instruments - Details of Derivative Contracts (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2025	Dec. 31, 2024
Zero Cost Collar One [Member]
Derivative [Line Items]
Date of transaction	Jul. 09, 2024	Apr. 05, 2024
Total notional amount	$ 9,000	$ 9,000
Month of settlement, start	2025-07	2025-01
Month of settlement, end	2025-09	2025-03
Zero Cost Collar Two [Member]
Derivative [Line Items]
Date of transaction	Oct. 17, 2024	Jul. 09, 2024
Total notional amount	$ 9,000	$ 18,000
Month of settlement, start	2025-10	2025-04
Month of settlement, end	2025-12	2025-09
Zero Cost Collar Three [Member]
Derivative [Line Items]
Date of transaction	Feb. 03, 2025	Oct. 17, 2024
Total notional amount	$ 9,000	$ 9,000
Month of settlement, start	2026-01	2025-10
Month of settlement, end	2026-03	2025-12

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ 323	$ (12,997)	$ (8,555)	$ (28,414)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 323	$ (12,997)	$ (8,555)	$ (28,414)
Other comprehensive income (loss) (Note 15)
Foreign currency translation adjustments	875	(1,591)	1,630	(5,088)
Derivative adjustments	1,696	(280)	2,357	(826)
Total other comprehensive income (loss)	2,571	(1,871)	3,987	(5,914)
Total comprehensive income (loss)	$ 2,894	$ (14,868)	$ (4,568)	$ (34,328)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash flows from operating activities
Net loss	$ (8,555)	$ (28,414)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	6,661	8,115
Provision for severance benefits	2,175	2,970
Loss (gain) on foreign currency, net	(18,085)	16,848
Provision (reversal) for inventory reserves	845	(1,024)
Stock-based compensation	1,492	2,116
Impairment charges	7,362	0
Deferred income taxes	(649)	3,158
Others, net	476	426
Changes in operating assets and liabilities
Accounts receivable, net	(4,600)	(235)
Inventories	(4,979)	(3,449)
Other receivables	(5,835)	601
Other current assets	5,296	896
Accounts payable	2,559	1,944
Other accounts payable	(4,972)	(6,676)
Accrued expenses	(2,022)	(427)
Accrued income taxes	22	(17)
Other current liabilities	(546)	453
Other non-current liabilities	8	(246)
Payment of severance benefits	(9,843)	(1,362)
Others, net	3,389	(761)
Net cash used in operating activities	(29,801)	(5,084)
Cash flows from investing activities
Purchase of property, plant and equipment	(12,083)	(1,566)
Payment for intellectual property registration	(85)	(178)
Collection of guarantee deposits	2,336	1,138
Payment of guarantee deposits	(297)	(1,910)
Proceeds from settlement of hedge collateral	2,237	0
Payment of hedge collateral	0	(612)
Purchase of short-term financial instruments	0	(30,000)
Others, net	180	0
Net cash used in investing activities	(7,712)	(33,128)
Cash flows from financing activities
Proceeds from long-term borrowings	6,964	30,059
Acquisition of treasury stock	(4,020)	(6,859)
Repayment of financing related to water treatment facility arrangement	(225)	(238)
Repayment of principal portion of finance lease liabilities	(80)	(69)
Net cash provided by financing activities	2,639	22,893
Effect of exchange rates on cash and cash equivalents	9,590	(10,306)
Net decrease in cash and cash equivalents	(25,284)	(25,625)
Cash and cash equivalents at beginning of period	138,610	158,092
Cash and cash equivalents at end of period	113,326	132,467
Supplemental cash flow information
Cash paid for interest on long-term borrowings	613	266
Cash refunded for income taxes	(1,168)	(716)
Non-cash investing activities
Property, plant and equipment additions in other accounts payable	$ 939	$ 1,467

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	$ 1,391
Zero Cost Collar and Forward Contracts [Member] \| Nomura Financial Investment (Korea) Co., Ltd. [Member]
Derivative [Line Items]
Threshold amount of cash collateral	500	$ 500
Threshold amount of additional cash collateral	1,080	$ 1,080
Termination provisions for cash and cash equivalents	$ 30,000

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive loss	$ 615	$ 0	$ 615	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Accrued Severance Benefits - Future Benefits Payments to Employees (Detail) $ in Thousands	Jun. 30, 2025 USD ($)
Postemployment Benefits [Abstract]
2026	$ 98
2027	557
2028	110
2029	2,287
2030	2,727
2031 – 2036	$ 17,914

Inventories - Changes in Inventory Reserve (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Changes In Inventory Reserve [Abstract]
Beginning balance	$ (8,754)	$ (8,947)	$ (7,732)	$ (10,599)
Change in reserve
Inventory reserve charged to costs of sales	(1,357)	(1,411)	(3,656)	(2,961)
Sale of previously reserved inventory	1,578	1,466	2,846	4,127
Change in reserve	221	55	(810)	1,166
Write off	538	61	735	327
Translation adjustments	(500)	290	(688)	565
Ending balance	$ (8,495)	$ (8,541)	$ (8,495)	$ (8,541)

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2025	Jul. 31, 2025
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2025
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-34791
Entity Registrant Name	Magnachip Semiconductor Corporation
Entity Central Index Key	0001325702
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0406195
Entity Address, Address Line One	c/o Magnachip Semiconductor, Ltd.
Entity Address, Address Line Two	15F, 76 Jikji-daero 436beon-gil
Entity Address, City or Town	Heungdeok-gu
Entity Address, Country	KR
Entity Address, Postal Zip Code	28581
City Area Code	82
Local Phone Number	(2) 6903-3000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,924,033

Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings (Loss) Common Share

The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2025 and 2024:


	Three Months Ended						Six Months Ended
	June 30, 2025			June 30, 2024			June 30, 2025			June 30, 2024
	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per common share
Income (Loss) from continuing operations	$	8,486		$	(2,208	)	$	3,404		$	(16,492	)
Loss from discontinued operations, net of tax		(8,163	)		(10,789	)		(11,959	)		(11,922	)

Net income (loss)	$	323		$	(12,997	)	$	(8,555	)	$	(28,414	)

Basic weighted average common stock outstanding		36,083,703			38,174,920			36,483,551			38,359,851
Basic earnings (loss) per common share
Continuing operations	$	0.24		$	(0.06	)	$	0.09		$	(0.43	)
Discontinued operations		(0.23	)		(0.28	)		(0.32	)		(0.31	)

Total	$	0.01		$	(0.34	)	$	(0.23	)	$	(0.74	)

Diluted earnings (loss) per common share
Income (Loss) from continuing operations	$	8,486		$	(2,208	)	$	3,404		$	(16,492	)
Loss from discontinued operations, net of tax		(8,163	)		(10,789	)		(11,959	)		(11,922	)

Net income (loss)	$	323		$	(12,997	)	$	(8,555	)	$	(28,414	)

Basic weighted average common stock outstanding		36,083,703			38,174,920			36,483,551			38,359,851
Net effect of dilutive equity awards		684,944			—			726,071			—

Diluted weighted average common stock outstanding		36,768,647			38,174,920			37,209,622			38,359,851
Diluted earnings (loss) per common share
Continuing operations	$	0.23		$	(0.06	)	$	0.09		$	(0.43	)
Discontinued operations		(0.22	)		(0.28	)		(0.32	)		(0.31	)

Total	$	0.01		$	(0.34	)	$	(0.23	)	$	(0.74	)

Schedule of Antidilutive Securities Excluded from the Computation of Earnings (Loss) Common Share

The following outstanding instruments were excluded from the computation of diluted earnings (loss) per common share, as they have an anti-dilutive effect on the calculation:


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Options		464,065		757,158		464,065		757,158
Restricted Stock Units		—		2,476,131		—		2,476,131

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	57,581,275	57,498,507
Common stock, shares outstanding	35,954,038	36,912,118
Treasury stock, shares	21,627,237	20,586,389

Derivative Financial Instruments - Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities (Detail) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Asset Derivatives:
Other current assets	$ 354	$ 0
Liability Derivatives:
Other current liabilities	$ 37	$ 1,956

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

Geographic and Other Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Product Categories

Revenues for the three months ended June 30, 2024 from its previous product categories have been reclassified in order to conform to the current period presentation as follows (in thousands):


			Power Analog Solutions		Power IC		Discontinued Operations		Total
Mixed-Signal Solutions	$	11,595	$	—	$	4,824	$	6,771	$	11,595
Power Analog Solutions		39,240		39,240		—		—		39,240

	$	50,835	$	39,240	$	4,824	$	6,771	$	50,835

Revenues for the six months ended June 30, 2024 from its previous product categories have been reclassified in order to conform to the current period presentation as follows (in thousands):


			Power Analog Solutions		Power IC		Discontinued Operations		Total
Mixed-Signal Solutions	$	20,601	$	—	$	8,201	$	12,400	$	20,601
Power Analog Solutions		75,775		75,775		—		—		75,775

	$	96,376	$	75,775	$	8,201	$	12,400	$	96,376

Schedule of Operating Segments


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Revenues
Power solutions business
Power Analog Solutions	$	42,261	$	39,240	$	82,118	$	75,775
Power IC		5,361		4,824		10,226		8,201

Total Power solutions business		47,622		44,064		92,344		83,976
Transitional Fab 3 foundry services		—		2,336		—		5,862

Total revenues	$	47,622	$	46,400	$	92,344	$	89,838


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Cost of Sales
Power solutions business
Power Analog Solutions	$	34,552	$	31,525	$	67,309	$	62,426
Power IC		3,358		2,632		5,961		4,599

Total Power solutions business		37,910		34,157		73,270		67,025
Transitional Fab 3 foundry services		—		2,457		—		6,668

Total cost of sales	$	37,910	$	36,614	$	73,270	$	73,693


	Three Months Ended					Six Months Ended
	June 30, 2025		June 30, 2024			June 30, 2025		June 30, 2024
Gross Profit
Power solutions business
Power Analog Solutions	$	7,709	$	7,715		$	14,809	$	13,349
Power IC		2,003		2,192			4,265		3,602

Total Power solutions business		9,712		9,907			19,074		16,951
Transitional Fab 3 foundry services		—		(121	)		—		(806	)

Total gross profit	$	9,712	$	9,786		$	19,074	$	16,145

Net Sales by Region, Based on Location of Products are Billed

The

following

is a summary of net sales – Power solutions business by geographic region, based on the location to which the products are billed (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Korea	$	22,721	$	19,883	$	44,437	$	36,974
Asia Pacific (other than Korea)		22,445		22,601		43,437		43,690
United States		1,470		308		2,652		646
Europe		986		1,272		1,818		2,666

Total	$	47,622	$	44,064	$	92,344	$	83,976

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Equity [Abstract]
Foreign currency translation adjustments	$ (19,297)	$ (20,927)
Derivative adjustments	1,391	(966)
Total	$ (17,906)	$ (21,893)

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Fair Value Measurements

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

9. Fair Value Measurements

Fair Value of Financial Instruments

As of June 30, 2025, the following table represents the Company’s assets and liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value June 30, 2025		Fair Value Measurement June 30, 2025		Quoted Prices in Active Markets for Identical Asset/Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative assets (other current assets)	$	354	$	354		—	$	354		—
Liabilities:
Derivative liabilities (other current liabilities)	$	37	$	37		—	$	37		—

As of December 31, 2024, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value December 31, 2024		Fair Value Measurement December 31, 2024		Quoted Prices in Active Markets for Identical Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative liabilities (other current liabilities)	$	1,956	$	1,956		—	$	1,956		—

Items not reflected in the table above include cash equivalents, accounts receivable, other receivables, accounts payable, and other accounts payable, fair value of which approximate carrying values due to the short-term nature of these instruments. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs. The carrying value of the Company’s outstanding Term Loan and CAPEX Loan approximates its fair value because its interest rate reflects the market rate for the respective periods. The fair value of this debt is categorized within Level 2 of the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Stock Repurchases - Additional Information (Detail) - Stock Repurchase Program [Member] - USD ($) $ / shares in Units, $ in Millions	5 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2025	Dec. 31, 2024	Jul. 19, 2023
Share Repurchase Program [Line Items]
Stock repurchase program, authorized amount				$ 50.0
Aggregate purchase price	$ 13.6	$ 3.4	$ 11.8
Sale of aggregate purchase price (in dollars per share)	$ 7.84	$ 3.32	$ 5.04
Stock repurchased (in shares)	1,730,173	1,025,669	2,349,811

- Definition

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Carrying Value [Member]
Assets:
Derivative assets	$ 354
Liabilities:
Derivative liabilities	37	$ 1,956
Estimate of Fair Value Measurement [Member]
Assets:
Derivative assets	$ 354
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current
Liabilities:
Derivative liabilities	$ 37	$ 1,956
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Derivative assets	$ 354
Liabilities:
Derivative liabilities	$ 37	$ 1,956

Derivative Financial Instruments - Impact of Derivative Instruments on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Derivative [Line Items]
Location/Amount of Loss Reclassified from AOCI Into Statement of Operations (Effective Portion)	$ (1,696)	$ 280	$ (2,357)	$ 826
Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	1,617	(807)	1,753	(1,412)
Location/Amount of Loss Reclassified from AOCI Into Statement of Operations (Effective Portion)	(79)	(527)	(604)	(586)
Cash Flow Hedging [Member] \| Other income, net [Member]
Derivative [Line Items]
Location/Amount of Gain Recognized in Statement of Operations on Derivatives (Effective Portion)	(80)	85	(51)	110
Zero Cost Collars [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	1,617	(807)	1,753	(1,412)
Location/Amount of Loss Reclassified from AOCI Into Statement of Operations (Effective Portion)	(79)	(527)	(604)	(586)
Zero Cost Collars [Member] \| Cash Flow Hedging [Member] \| Other income, net [Member]
Derivative [Line Items]
Location/Amount of Gain Recognized in Statement of Operations on Derivatives (Effective Portion)	$ (80)	$ 85	$ (51)	$ 110

Stock Repurchases	6 Months Ended
Stock Repurchases	Jun. 30, 2025
Equity [Abstract]
Stock Repurchases	16. Stock Repurchase Stock Repurchase Program On July 19, 2023, the Board of Directors authorized a $50 million stock buyback program. Purchases have been and will be made in the open market or in privately negotiated transactions, depending upon market conditions and other factors. From August 2023 to December 2023, the Company repurchased 1,730,173 shares of its common stock in the open market for an aggregate purchase price of $13.6 million and a weighted average price per share of $7.84 under the stock repurchase program. From January 2024 to December 2024, the Company repurchased 2,349,811 shares of its common stock in the open market for an aggregate purchase price of $11.8 million and a weighted average price per share of $5.04 under the stock repurchase program. During the first half of 2025, the Company repurchased 1,025,669 shares of its common stock in the open market for an aggregate purchase price of $3.4 million and a weighted average price per share of $3.32 under the stock repurchase program.

Accrued Expenses

6 Months Ended

Jun. 30, 2025

Payables and Accruals [Abstract]

Accrued Expenses

7. Accrued Expenses

Accrued expenses as of June 30, 2025 and December 31, 2024 are comprised of the following (in thousands):


	June 30, 2025		December 31, 2024
Payroll, benefits and related taxes, excluding severance benefits	$	6,077	$	5,518
Withholding tax attributable to intercompany interest income		677		1,419
Outside service fees		1,192		1,221
Others		483		490

Accrued expenses	$	8,429	$	8,648

Derivative Financial Instruments - Offsetting of Derivative Assets and Liabilities (Detail) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Asset Derivatives:
Gross amounts of recognized assets	$ 354
Gross amounts offset in the balance sheets	0
Net amounts of liabilities presented in the balance sheets	354	$ 0
Gross amounts not offset in the balance sheets, Financial instruments	0
Gross amounts not offset in the balance sheets, Cash collateral pledged	0
Net amount	354
Liability Derivatives:
Gross amounts of recognized liabilities	37	1,956
Gross amounts offset in the balance sheets	0	0
Net amounts of liabilities presented in the balance sheets	37	1,956
Gross amounts not offset in the balance sheets, Financial instruments	0	0
Gross amounts not offset in the balance sheets, Cash collateral pledged	0	(1,080)
Net amount	$ 37	$ 876

Discontinued Operations - Schedule of Cash Flow Information Related to Discontinued Operation (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Significant non-cash operating activities:
Impairment charges	$ 7,362	$ 0
Discontinued Operations [Member]
Significant non-cash operating activities:
Depreciation and amortization	12	719
Provision for severance benefits	(243)	637
Stock-based compensation	(353)	235
Impairment charges	7,362
Investing activities:
Capital expenditures	$ 0	$ 0

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies Advances to Suppliers The Company, from time to time, may make advances in form of prepayments or deposits to suppliers, including external foundries, to meet its planned production. The Company recorded advances of $565 thousand and $2,294 thousand as other current assets as of June 30, 2025 and December 31, 2024, respectively.

Accrued Severance Benefits - Changes in Accrued Severance Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Postemployment Benefits [Abstract]
Beginning balance	$ 46,886	$ 44,484	$ 45,594	$ 45,932
Provisions	661	1,565	2,175	2,970
Severance payments	(9,518)	(478)	(9,843)	(1,362)
Translation adjustments	3,552	(1,373)	3,655	(3,342)
Ending balance	41,581	44,198	41,581	44,198
Less: Cumulative contributions to severance insurance deposit accounts	(27,313)	(28,412)	(27,313)	(28,412)
The National Pension Fund	(20)	(27)	(20)	(27)
Accrued severance benefits, net	$ 14,248	$ 15,759	$ 14,248	$ 15,759	$ 17,094

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]
Balance beginning at Dec. 31, 2023	$ 344,598	$ 569	$ 273,256	$ 298,884	$ (213,454)	$ (14,657)
Balance, Shares beginning at Dec. 31, 2023		38,852,742
Stock-based compensation	2,116		2,116
Settlement of restricted stock units	(43)	$ 0	(43)
Settlement of restricted stock units, Shares		44,175
Acquisition of treasury stock	(6,495)				(6,495)
Acquisition of treasury stock, Shares		(1,097,435)
Other comprehensive income (loss), net	(5,914)					(5,914)
Net Income (Loss)	(28,414)			(28,414)
Balance ending at Jun. 30, 2024	305,848	$ 569	275,329	270,470	(219,949)	(20,571)
Balance, Shares ending at Jun. 30, 2024		37,799,482
Balance beginning at Mar. 31, 2024	321,885	$ 569	274,156	283,467	(217,607)	(18,700)
Balance, Shares beginning at Mar. 31, 2024		38,263,642
Stock-based compensation	1,216		1,216
Settlement of restricted stock units	(43)	$ 0	(43)
Settlement of restricted stock units, Shares		6,996
Acquisition of treasury stock	(2,342)				(2,342)
Acquisition of treasury stock, Shares		(471,156)
Other comprehensive income (loss), net	(1,871)					(1,871)
Net Income (Loss)	(12,997)			(12,997)
Balance ending at Jun. 30, 2024	305,848	$ 569	275,329	270,470	(219,949)	(20,571)
Balance, Shares ending at Jun. 30, 2024		37,799,482
Balance beginning at Dec. 31, 2024	$ 276,797	$ 574	279,423	244,576	(225,883)	(21,893)
Balance, Shares beginning at Dec. 31, 2024	36,912,118	36,912,118
Stock-based compensation	$ 1,492		1,492
Settlement of restricted stock units	(61)	$ 1	(62)
Settlement of restricted stock units, Shares		82,768
Acquisition of treasury stock	(3,498)				(3,498)
Acquisition of treasury stock, Shares		(1,040,848)
Other comprehensive income (loss), net	3,987					3,987
Net Income (Loss)	(8,555)			(8,555)
Balance ending at Jun. 30, 2025	$ 270,162	$ 575	280,853	236,021	(229,381)	(17,906)
Balance, Shares ending at Jun. 30, 2025	35,954,038	35,954,038
Balance beginning at Mar. 31, 2025	$ 269,201	$ 575	280,452	235,698	(227,047)	(20,477)
Balance, Shares beginning at Mar. 31, 2025		36,675,789
Stock-based compensation	462		462
Settlement of restricted stock units	(61)	$ 0	(61)
Settlement of restricted stock units, Shares		9,806
Acquisition of treasury stock	(2,334)				(2,334)
Acquisition of treasury stock, Shares		(731,557)
Other comprehensive income (loss), net	2,571					2,571
Net Income (Loss)	323			323
Balance ending at Jun. 30, 2025	$ 270,162	$ 575	$ 280,853	$ 236,021	$ (229,381)	$ (17,906)
Balance, Shares ending at Jun. 30, 2025	35,954,038	35,954,038

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Leases

6 Months Ended

Jun. 30, 2025

Leases [Abstract]

Leases

6. Leases

The Company has operating and finance leases for buildings and other assets such as vehicles and office equipment. The Company’s leases have remaining lease terms ranging from one year to four years.

The tables below present financial information related to the Company’s leases.

Supplemental balance sheets information related to leases as of June 30, 2025 and December 31, 2024 are as follows (in thousands):


Leases	Classification	June 30, 2025		December 31, 2024
Assets
Operating lease	Operating lease right-of-use assets	$	2,958	$	3,107
Finance lease	Property, plant and equipment, net		345		390

Total lease assets		$	3,303	$	3,497

Liabilities
Current
Operating lease	Operating lease liabilities	$	1,572	$	1,393
Finance lease	Other current liabilities		167		153
Non-current
Operating lease	Non-current operating lease liabilities		1,382		1,823
Finance lease	Other non-current liabilities		233		294

Total lease liabilities		$	3,354	$	3,663

The following table presents the weighted average remaining lease term and discount rate:


	June 30, 2025			December 31, 2024
Weighted average remaining lease term
Operating leases		2.0 years			2.5 years
Finance leases		2.5 years			2.9 years
Weighted average discount rate
Operating leases		6.6	%		6.8	%
Finance leases		7.1	%		7.1	%

The components of lease cost from continuing operations included in the Company’s consolidated statements of operations, are as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Operating lease cost	$	516	$	502	$	1,038	$	1,010
Finance lease cost
Amortization of right-of-use assets		37		33		73		68
Interest on lease liabilities		8		9		15		19

Total lease cost	$	561	$	544	$	1,126	$	1,097

The above table does not include an immaterial cost of short-term leases for the three and six months ended June 30, 2025 and 2024.

Other lease information associated with continuing operations is as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	491	$	513	$	1,151	$	1,032
Operating cash flows from finance leases		8		9		15		19
Financing cash flows from finance leases		40		34		78		69

Non-cash

transaction amounts of lease liabilities arising from obtaining

right-of-use

assets were $1,147 thousand and $627 thousand for the six months ended June 30, 2025 and 2024, respectively.

The aggregate future lease payments for operating and finance leases as of June 30, 2025 are as follows (in thousands):


	Operating Leases			Finance Leases
Remainder of 2025	$	849		$	95
2026		1,575			178
2027		721			143
2028		11			19

Total future lease payments		3,156			435
Less: Imputed interest		(202	)		(35	)

Present value of future payments	$	2,954		$	400

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Earnings (Loss) Common Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted earnings (loss) per share/unit (in shares)	464,065	757,158	464,065	757,158
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted earnings (loss) per share/unit (in shares)	0	2,476,131	0	2,476,131

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

Accumulated Other Comprehensive Loss

15. Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following as of June 30, 2025 and December 31, 2024, respectively (in thousands):


	June 30, 2025			December 31, 2024
Foreign currency translation adjustments	$	(19,297	)	$	(20,927	)
Derivative adjustments		1,391			(966	)

Total	$	(17,906	)	$	(21,893	)

Changes in accumulated other comprehensive loss for the three months ended June 30, 2025 and 2024 are as follows (in thousands):


Three Months Ended June 30, 2025	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,172	)	$	(305	)	$	(20,477	)

Other comprehensive income before reclassifications		260			1,617			1,877
Amounts reclassified from accumulated other comprehensive loss		615			79			694

Net current-period other comprehensive income		875			1,696			2,571

Ending balance	$	(19,297	)	$	1,391		$	(17,906	)


Three Months Ended June 30, 2024	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(18,845	)	$	145		$	(18,700	)

Other comprehensive loss before reclassifications		(1,591	)		(807	)		(2,398	)
Amounts reclassified from accumulated other comprehensive loss		—			527			527

Net current-period other comprehensive loss		(1,591	)		(280	)		(1,871	)

Ending balance	$	(20,436	)	$	(135	)	$	(20,571	)

Changes in accumulated other comprehensive loss for the six months ended June 30, 2025 and 2024 are as follows (in thousands):


Six Months Ended June 30, 2025	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,927	)	$	(966	)	$	(21,893	)

Other comprehensive income before reclassifications		1,015			1,753			2,768
Amounts reclassified from accumulated other comprehensive loss		615			604			1,219

Net current-period other comprehensive income		1,630			2,357			3,987

Ending balance	$	(19,297	)	$	1,391		$	(17,906	)



Six Months Ended June 30, 2024	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(15,348	)	$	691		$	(14,657	)

Other comprehensive loss before reclassifications		(5,088	)		(1,412	)		(6,500	)
Amounts reclassified from accumulated other comprehensive loss		—			586			586

Net current-period other comprehensive loss		(5,088	)		(826	)		(5,914	)

Ending balance	$	(20,436	)	$	(135	)	$	(20,571	)

During the three and six months ended June 30, 2025, the Company reclassified a $615 thousand of cumulative translation adjustment (CTA) from accumulated other comprehensive loss into loss in connection with the liquidation of MMS, the Company’s indirect wholly owned foreign subsidiary.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

As of June 30, 2025, the following table represents the Company’s assets and liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value June 30, 2025		Fair Value Measurement June 30, 2025		Quoted Prices in Active Markets for Identical Asset/Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative assets (other current assets)	$	354	$	354		—	$	354		—
Liabilities:
Derivative liabilities (other current liabilities)	$	37	$	37		—	$	37		—

As of December 31, 2024, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value December 31, 2024		Fair Value Measurement December 31, 2024		Quoted Prices in Active Markets for Identical Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative liabilities (other current liabilities)	$	1,956	$	1,956		—	$	1,956		—

Geographic and Other Information - Net Sales by Region, Based on Location of Products are Billed (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 47,622	$ 46,400	$ 92,344	$ 89,838
Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	47,622	44,064	92,344	83,976
Standard products business [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	22,721	19,883	44,437	36,974
Standard products business [Member] \| Asia Pacific (Other Than Korea) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	22,445	22,601	43,437	43,690
Standard products business [Member] \| United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	1,470	308	2,652	646
Standard products business [Member] \| Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 986	$ 1,272	$ 1,818	$ 2,666

- Definition

+ References

+ Details

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Discontinued Operation - Schedule of Discontinued Operation Income Loss From Discontinued Operation Disclosures (Details) - Korean Subsidiary [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2025
Discontinued Operation Income Loss From Discontinued Operation Disclosures [Line Items]
Gross profit	$ 933	$ 933
Operating expenses	143	143
Sales [Member]
Discontinued Operation Income Loss From Discontinued Operation Disclosures [Line Items]
Net sales	$ 2,318	$ 2,318

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2025

Payables and Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses as of June 30, 2025 and December 31, 2024 are comprised of the following (in thousands):


	June 30, 2025		December 31, 2024
Payroll, benefits and related taxes, excluding severance benefits	$	6,077	$	5,518
Withholding tax attributable to intercompany interest income		677		1,419
Outside service fees		1,192		1,221
Others		483		490

Accrued expenses	$	8,429	$	8,648

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 6,517	$ 7,229

Business, Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2025
Accounting Policies [Abstract]
Business, Basis of Presentation and Significant Accounting Policies	1. Business, Basis of Presentation and Significant Accounting Policies Business Magnachip Semiconductor Corporation (together with its subsidiaries, the “Company”) is a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions for various applications, including industrial, automotive, communication, consumer and computing. The Company develops and manufactures Power discrete products and develops Power integrated circuit (“IC”) products. Power discrete products include metal oxide semiconductor field effect transistors (“MOSFETs”) and insulated-gate bipolar transistors (“IGBTs”) for a range of devices, including televisions, smartphones, mobile phones, wearable devices, desktop personal computers (“PCs”), notebook PCs, tablet PCs, servers, other consumer electronics, as well as automotive and industrial applications such as power suppliers, e-bikes, solar inverters, LED lighting and motor drives. Power IC products include AC-DC/DC-DC converters, LED drivers, regulators, power management integrated circuits (“PMICs”) and level shifter for a range of devices, including televisions, wearable devices, notebooks, tablet PCs and others consumer electronics, as well as automotive applications. In 2024, the Power IC business was operated by Magnachip Mixed-Signal, Ltd. (“MMS”), which later transferred the business to Magnachip Semiconductor, Ltd. (“MSK”) effective January 1, 2025, pursuant to an intercompany business transfer agreement executed between MMS and MSK. The transfer was based on the mutual understanding that consolidating the Power IC and Power Analog Solutions businesses under a single company would create a more effective framework for expanding and strengthening the Company’s business for Power products. Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). These interim consolidated financial statements include normal recurring adjustments and the elimination of all intercompany accounts and transactions which are, in the opinion of management, necessary to provide a fair statement of the Company’s financial condition and results of operations for the periods presented. These interim consolidated financial statements are presented in accordance with Accounting Standards Codification (“ASC”) 270, “Interim Reporting” and, accordingly, do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements, except for the changes below. The Company has reclassified certain prior year amounts to conform to the current year’s presentation for discontinued operations to reflect a plan to shut down the Company’s Display business and transition into a pure-play Power company. The assets and liabilities related to the discontinued Display business have not been reclassified on the consolidated balance sheets as of June 30, 2025. See Note 2 “Discontinued Operations” for additional information. The consolidated statements of cash flows have not been adjusted to separately disclose cash flows related to discontinued operations, but the material items in the operating and investing activities of cash flows relating to discontinued operations are disclosed in Note 2. Unless otherwise stated, information in these notes to consolidated financial statements relates to the Company’s continuing operations and excludes the discontinued operations. There have been no material changes to the Company’s significant accounting policies as of and for the six months ended June 30, 2025, except for those related to discontinued operations as described below, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. 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 January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. ASU 2024-03 requires public companies to disclose, in the notes to the financial statements, specific information about certain costs and expenses at 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 provide a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 is effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted and the amendments in this update may be applied prospectively or retrospectively. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which intends to enhance the transparency and decision usefulness of income tax disclosures. It requires public business entities to disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate for federal, state, and foreign income taxes. It also requires greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a specified threshold. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, though early adoption is permitted. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements and related disclosures.

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of the zero cost collar contracts as of June 30, 2025 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
July 09, 2024	$	9,000		July 2025 to September 2025
October 17, 2024	$	9,000		October 2025 to December 2025
February 03, 2025	$	9,000		January 2026 to March 2026

Details of the zero cost collar contracts as of December 31, 2024 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
April 05, 2024	$	9,000		January 2025 to March 2025
July 09, 2024	$	18,000		April 2025 to September 2025
October 17, 2024	$	9,000		October 2025 to December 2025

Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of June 30, 2025 and December 31, 2024 are as follows (in thousands):


Derivatives designated as hedging instruments:		June 30, 2025		December 31, 2024
Assets Derivatives:
Zero cost collars	Other current assets	$	354	$	—
Liability Derivatives:
Zero cost collars	Other current liabilities	$	37	$	1,956

Offsetting of Derivative Assets and Liabilities

Offsetting of derivative assets and liabilities as of June 30, 2025 is as follows (in thousands):


As of June 30, 2025	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets		Net amounts of assets/liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets				Net amount
As of June 30, 2025	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged		Net amount
Assets Derivatives:
Zero cost collars	$	354	$	—	$	354	$	—	$	—	$	354
Liability Derivatives:
Zero cost collars	$	37	$	—	$	37	$	—	$	—	$	37

Offsetting of derivative assets and liabilities as of December 31, 2024 is as follows (in thousands):


As of December 31, 2024	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets					Net amount
As of December 31, 2024	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	1,956	$	—	$	1,956	$	—	$	(1,080	)	$	876

Impact of Derivative Instruments on Consolidated Statement of Operations

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended June 30, 2025 and 2024 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships		Amount of Gain (Loss) Recognized in AOCI on Derivatives					Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
		Three Months Ended June 30,							Three Months Ended June 30,								Three Months Ended June 30,
	2025			2024					2025			2024					2025			2024
Zero cost collars		$	1,617	$	(807	)		Net sales	$	(79	)	$	(527	)		Other income, net	$	(80	)	$	85

		$	1,617	$	(807	)			$	(79	)	$	(527	)			$	(80	)	$	85

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the six months ended June 30, 2025 and 2024 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives					Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Six Months Ended June 30,							Six Months Ended June 30,								Six Months Ended June 30,
	2025		2024					2025			2024					2025			2024
Zero cost collars	$	1,753	$	(1,412	)		Net sales	$	(604	)	$	(586	)		Other income, net	$	(51	)	$	110

	$	1,753	$	(1,412	)			$	(604	)	$	(586	)			$	(51	)	$	110

Summary Of Cash Deposits

This cash deposit is recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2025 and December 31, 2024 are as follows (in thousands):


Counterparty	June 30, 2025		December 31, 2024
SC	$	—	$	1,000

Total	$	—	$	1,000

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenues:
Net sales	$ 47,622	$ 46,400	$ 92,344	$ 89,838
Cost of sales:
Cost of sales	37,910	36,614	73,270	73,693
Gross profit	9,712	9,786	19,074	16,145
Operating expenses:
Selling, general and administrative expenses	9,321	9,735	19,035	19,275
Research and development expenses	6,983	5,774	12,919	11,984
Other charges	846	0	846	0
Total operating expenses	17,150	15,509	32,800	31,259
Operating loss	(7,438)	(5,723)	(13,726)	(15,114)
Interest income	1,324	2,134	2,869	4,275
Interest expense	(402)	(487)	(851)	(672)
Foreign currency gain (loss), net	10,810	(3,625)	10,405	(8,613)
Other income, net	56	108	170	152
Income (Loss) from continuing operations before income tax benefit, net	4,350	(7,593)	(1,133)	(19,972)
Income tax benefit, net	(4,136)	(5,385)	(4,537)	(3,480)
Income (Loss) from continuing operations	8,486	(2,208)	3,404	(16,492)
Loss from discontinued operations, net of tax	(8,163)	(10,789)	(11,959)	(11,922)
Net income (loss)	$ 323	$ (12,997)	$ (8,555)	$ (28,414)
Basic earnings (loss) per common share—
Basic	$ 0.01	$ (0.34)	$ (0.23)	$ (0.74)
Continuing operations	0.24	(0.06)	0.09	(0.43)
Discontinued operations	(0.23)	(0.28)	(0.32)	(0.31)
Diluted earnings (loss) per common share—
Diluted	0.01	(0.34)	(0.23)	(0.74)
Continuing operations	0.23	(0.06)	0.09	(0.43)
Discontinued operations	$ (0.22)	$ (0.28)	$ (0.32)	$ (0.31)
Weighted average number of shares—
Basic	36,083,703	38,174,920	36,483,551	38,359,851
Diluted	36,768,647	38,174,920	37,209,622	38,359,851
Power Solutions Business [Member]
Revenues:
Net sales	$ 47,622	$ 44,064	$ 92,344	$ 83,976
Cost of sales:
Cost of sales	37,910	34,157	73,270	67,025
Gross profit	9,712	9,907	19,074	16,951
Fab 3 Foundry Services [Member]
Revenues:
Net sales	0	2,336	0	5,862
Cost of sales:
Cost of sales	0	2,457	0	6,668
Gross profit	$ 0	$ (121)	$ 0	$ (806)

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

8. Derivative Financial Instruments

The Company’s Korean subsidiary, Magnachip Semiconductor, Ltd., from time to time has entered into zero cost collar contracts to hedge the risk of changes in the functional-currency-equivalent cash flows attributable to currency rate changes on U.S. dollar denominated revenues.

Details of the zero cost collar contracts as of June 30, 2025 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
July 09, 2024	$	9,000		July 2025 to September 2025
October 17, 2024	$	9,000		October 2025 to December 2025
February 03, 2025	$	9,000		January 2026 to March 2026

Details of the zero cost collar contracts as of December 31, 2024 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
April 05, 2024	$	9,000		January 2025 to March 2025
July 09, 2024	$	18,000		April 2025 to September 2025
October 17, 2024	$	9,000		October 2025 to December 2025

The zero cost collar contracts qualify as cash flow hedges under ASC 815, “Derivatives and Hedging,” since at both the inception of the contracts and on an ongoing basis, the hedging relationship was and is expected to be highly effective in achieving offsetting cash flows attributable to the hedged risk during the term of the contracts.

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of June 30, 2025 and December 31, 2024 are as follows (in thousands):


Derivatives designated as hedging instruments:		June 30, 2025		December 31, 2024
Assets Derivatives:
Zero cost collars	Other current assets	$	354	$	—
Liability Derivatives:
Zero cost collars	Other current liabilities	$	37	$	1,956

Offsetting of derivative assets and liabilities as of June 30, 2025 is as follows (in thousands):


As of June 30, 2025	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets		Net amounts of assets/liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets				Net amount
As of June 30, 2025	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged		Net amount
Assets Derivatives:
Zero cost collars	$	354	$	—	$	354	$	—	$	—	$	354
Liability Derivatives:
Zero cost collars	$	37	$	—	$	37	$	—	$	—	$	37

Offsetting of derivative assets and liabilities as of December 31, 2024 is as follows (in thousands):


As of December 31, 2024	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets					Net amount
As of December 31, 2024	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	1,956	$	—	$	1,956	$	—	$	(1,080	)	$	876

For derivative instruments that are designated and qualify as cash flow hedges, gains or losses on the derivative aside from components excluded from the assessment of effectiveness are reported as a component of accumulated other comprehensive income or loss (“AOCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings.

Gains and losses on the derivative, representing hedge components excluded from the assessment of effectiveness, are recognized in current earnings.

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended June 30, 2025 and 2024 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships		Amount of Gain (Loss) Recognized in AOCI on Derivatives					Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
		Three Months Ended June 30,							Three Months Ended June 30,								Three Months Ended June 30,
	2025			2024					2025			2024					2025			2024
Zero cost collars		$	1,617	$	(807	)		Net sales	$	(79	)	$	(527	)		Other income, net	$	(80	)	$	85

		$	1,617	$	(807	)			$	(79	)	$	(527	)			$	(80	)	$	85

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the six months ended June 30, 2025 and 2024 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives					Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Six Months Ended June 30,							Six Months Ended June 30,								Six Months Ended June 30,
	2025		2024					2025			2024					2025			2024
Zero cost collars	$	1,753	$	(1,412	)		Net sales	$	(604	)	$	(586	)		Other income, net	$	(51	)	$	110

	$	1,753	$	(1,412	)			$	(604	)	$	(586	)			$	(51	)	$	110

As of June 30, 2025, the amount expected to be reclassified from accumulated other comprehensive income into earnings within the next 12 months is $1,391 thousand.

The Company has set aside a cash deposit to the counterparty, Standard Chartered Bank Korea Limited (“SC”), as required for the zero cost collar contracts. This cash deposit is recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2025 and December 31, 2024 are as follows (in thousands):


Counterparty	June 30, 2025		December 31, 2024
SC	$	—	$	1,000

Total	$	—	$	1,000

The Company is required to deposit additional cash collateral with Nomura Financial Investment (Korea) Co., Ltd. (“NFIK”) for any exposure in excess of $500 thousand, but no such exposure existed as of June 30, 2025. As of December 31, 2024, $1,080 thousand of additional cash collateral were required by NFIK and recorded as hedge collateral on the consolidated balance sheet.

These zero cost collar contracts may be terminated by the counterparties if the Company’s total cash and cash equivalents is less than $30,000 thousand at the end of a fiscal quarter, unless a waiver is obtained.

Leases - Components of lease cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Leases [Abstract]
Operating lease cost	$ 516	$ 502	$ 1,038	$ 1,010
Finance lease cost
Amortization of right-of-use assets	37	33	73	68
Interest on lease liabilities	8	9	15	19
Total lease cost	$ 561	$ 544	$ 1,126	$ 1,097

Long-Term Borrowings - Additional Information (Detail) $ in Thousands	Jun. 30, 2025 USD ($)	Mar. 26, 2024 USD ($)	Dec. 31, 2024	Dec. 16, 2024 USD ($)	Dec. 16, 2024 KRW (₩)	Mar. 26, 2024 KRW (₩)
Schedule of Capitalization, Long-Term Debt [Line Items]
Loan, held-in-portfolio, principal outstanding, total	$ 29,490
Foreign currency exchange rate, translation	1,356.4		1,470
Capex Loans [Member]
Schedule of Capitalization, Long-Term Debt [Line Items]
Loan, held-in-portfolio, principal outstanding, total	$ 7,018
Debt instrument, maturity date	Jun. 26, 2035
Debt instrument, interest rate, effective percentage	2.68%
Capex Loans [Member] \| Korea (South), Won
Schedule of Capitalization, Long-Term Debt [Line Items]
Debt instrument, face amount \| ₩					₩ 38,000,000,000
Working Capital Term Loan [Member]
Schedule of Capitalization, Long-Term Debt [Line Items]
Debt instrument, maturity date		Mar. 26, 2027
Debt instrument, interest rate, effective percentage		4.86%				4.86%
Foreign currency exchange rate, translation		1,340.7		1,432.7	1,432.7	1,340.7
Debt instrument, face amount		$ 29,835		$ 26,523
Working Capital Term Loan [Member] \| Korea (South), Won
Schedule of Capitalization, Long-Term Debt [Line Items]
Debt instrument, basis spread on variable rate		1.21%
Debt instrument, face amount \| ₩						₩ 40,000,000,000