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Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Equity [Abstract]
Foreign currency translation adjustments	$ (18,093)	$ (20,927)
Derivative adjustments	(715)	(966)
Total	$ (18,808)	$ (21,893)

- Definition

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

+ References + Details

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	Dec. 31, 2025	Dec. 31, 2024
Asset Derivatives:
Other current assets	$ 3	$ 0
Liability Derivatives:
Other current liabilities	1,644	1,956
Other non-current liabilities	$ 126	$ 0
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

- 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

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

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


	Year Ended December 31,
	2025			2024
Foreign currency translation adjustments	$	(18,093	)	$	(20,927	)
Derivative adjustments		(715	)		(966	)
Total	$	(18,808	)	$	(21,893	)

Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss for the years ended December 31, 2025 and 2024 are as follows (in thousands):


Year Ended December 31, 2025	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,927	)	$	(966	)	$	(21,893	)
Other comprehensive income (loss) before reclassifications		2,219			(791	)		1,428
Amounts reclassified from accumulated other comprehensive loss		615			1,042			1,657
Net current-period other comprehensive income		2,834			251			3,085
Ending balance	$	(18,093	)	$	(715	)	$	(18,808	)


Year Ended December 31, 2024	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(15,348	)	$	691		$	(14,657	)
Other comprehensive loss before reclassifications		(5,579	)		(2,525	)		(8,104	)
Amounts reclassified from accumulated other comprehensive loss		—			868			868
Net current-period other comprehensive loss		(5,579	)		(1,657	)		(7,236	)
Ending balance	$	(20,927	)	$	(966	)	$	(21,893	)

Stock Repurchases - Additional Information (Detail) - Stock Repurchase Program [Member] - USD ($) $ / shares in Units, $ in Millions	5 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2025	Dec. 31, 2024	Jul. 19, 2023
Share Repurchase Program [Line Items]
Stock repurchase program, authorized amount				$ 50.0
Aggregate purchase price	$ 13.6	$ 3.6	$ 11.8
Sale of aggregate purchase price (in dollars per share)	$ 7.84	$ 3.33	$ 5.04
Stock repurchased (in shares)	1,730,173	1,093,748	2,349,811

- 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

- 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

Income Taxes - Summary of Income Taxes Paid, Net of Refunds Received, by Jurisdiction (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Paid, by Individual Jurisdiction [Line Items]
Income tax paid, federal, after refund received	$ 0
Total	(1,926)	$ (1,339)
Korea [Member]
Income Tax Paid, by Individual Jurisdiction [Line Items]
Income tax paid, foreign, after refund received	(2,301)
Netherlands [Member]
Income Tax Paid, by Individual Jurisdiction [Line Items]
Income tax paid, foreign, after refund received	268
Japan [Member]
Income Tax Paid, by Individual Jurisdiction [Line Items]
Income tax paid, foreign, after refund received	103
Others [Member]
Income Tax Paid, by Individual Jurisdiction [Line Items]
Income tax paid, foreign, after refund received	$ 4

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 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

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (29,724)	$ (54,308)

- Definition

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

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-Subparagraph (a)
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
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-Paragraph 1
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Equity Incentive Plans - Summary of Restricted Stock Unit Activities (Details) - Restricted Stock Units [Member]	12 Months Ended
	Dec. 31, 2025 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Restricted Stock Units, Outstanding Beginning Balance \| shares	1,953,742
Number of Restricted Stock Units, Granted \| shares	1,497,586
Number of Restricted Stock Units, Vested \| shares	(529,189)
Number of Restricted Stock Units, Forfeited \| shares	(1,269,042)
Number of Restricted Stock Units, Outstanding Ending Balance \| shares	1,653,097
Weighted Average Grant-Date Fair Value of Restricted Stock Units, Outstanding Beginning Balance \| $ / shares	$ 7.01
Weighted Average Grant-Date Fair Value of Restricted Stock Units, Granted \| $ / shares	3.43
Weighted Average Grant-Date Fair Value of Restricted Stock Units, Vested \| $ / shares	5.42
Weighted Average Grant-Date Fair Value of Restricted Stock Units, Forfeited \| $ / shares	5.22
Weighted Average Grant-Date Fair Value of Restricted Stock Units, Outstanding Ending Balance \| $ / shares	$ 5.65

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 12,332	$ 14,133

Leases - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Non cash transaction amount of lease liabilities arisinf from obtaining right of use assets	$ 1,225	$ 959
Minimum [Member]
Lease Agreements Remaining Term of Lease	1 year
Maximum [Member]
Lease Agreements Remaining Term of Lease	4 years

Early Termination And Other Charges - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Early Termination And Other Charges [Abstract]
Termination Expenses	$ 2,599
Executive Separation Benefits Expenses	1,745	$ 1,589
Employee Related Expenses	$ 496

Derivative Financial Instruments - Impact of Derivative Instruments on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Derivative [Line Items]
Location/Amount of Gain (Loss)	$ (251)	$ 1,657
Zero Cost Collars [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	(748)	(2,988)
Zero Cost Collars [Member] \| Cash Flow Hedging [Member] \| Other income, net [Member]
Derivative [Line Items]
Location/Amount of Gain (Loss)	(43)	77
Zero Cost Collars [Member] \| Cash Flow Hedging [Member] \| Net Sales [Member]
Derivative [Line Items]
Location/Amount of Gain (Loss)	$ (1,042)	$ (868)

- Definition

Amount, before tax and adjustments, of gain (loss) from increase (decrease) in value of excluded component of derivative designated and qualifying as hedge. Adjustments include, but are not limited to, reclassifications for sale and settlement, and amounts recognized under systematic and rational method.

+ References + Details

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	$ 276,797	$ 344,598
Total other comprehensive income (loss)	3,085	(7,236)
Balance ending	248,250	276,797
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(20,927)	(15,348)
Other comprehensive income (loss) before reclassifications	2,219	(5,579)
Amounts reclassified from accumulated other comprehensive loss	615	0
Total other comprehensive income (loss)	2,834	(5,579)
Balance ending	(18,093)	(20,927)
Derivative Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(966)	691
Other comprehensive income (loss) before reclassifications	(791)	(2,525)
Amounts reclassified from accumulated other comprehensive loss	1,042	868
Total other comprehensive income (loss)	251	(1,657)
Balance ending	(715)	(966)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(21,893)	(14,657)
Other comprehensive income (loss) before reclassifications	1,428	(8,104)
Amounts reclassified from accumulated other comprehensive loss	1,657	868
Total other comprehensive income (loss)	3,085	(7,236)
Balance ending	$ (18,808)	$ (21,893)

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Income (loss) before income tax expense (benefit)
Domestic	$	14,941		$	(10,955	)
Foreign		(47,079	)		(24,554	)
		(32,138	)		(35,509	)
Current income tax expense (benefit)
Domestic		(0	)		—
Foreign		(2,740	)		184
Uncertain tax position liability (foreign)		10			(3	)
		(2,730	)		181
Deferred income tax expense (benefit)
Domestic		834			(1,340	)
Foreign		(15,993	)		(7,040	)
		(15,159	)		(8,380	)
Total income tax benefit	$	(17,889	)	$	(8,199	)

Schedule of Provision for Domestic and Foreign Income Taxes (Benefit) Incurred Different from Amount

The provision for domestic and foreign income taxes (benefit) incurred is different from the amount calculated by applying the statutory tax rate to the income (loss) before income tax benefit. The significant items causing this difference are as follows (in thousands):


	Year Ended December 31, 2025
	Amount			Percent
U.S. federal statutory income tax rate	$	(6,749	)		21.0	%
Domestic federal
Tax credits		—			—
Non-taxable and non-deductible items
Permanent foreign currency gain (loss)		(3,619	)		11.26
Others		(62	)		0.19
Cross-border tax laws
Subpart F income		98			(0.31	)
Changes in tax laws or rates enacted in the current period		—			—
Change in valuation allowance		1,279			(3.98	)
State income taxes, net of federal effect		—			—
Foreign tax effect
Korea
Statutory tax rate difference between Korea and United States		(8,499	)		26.45
Enacted changes in tax laws or rates		(3,912	)		12.17
Tax credits claimed		(743	)		2.31
R&D credit refund		(1,637	)		5.09
Others		253			(0.78	)
Netherlands
Statutory tax rate difference between Netherlands and United States		(694	)		2.16
TPECs, hybrid and other interest		(2,458	)		7.65
Permanent foreign currency gain (loss)		6,317			(19.65	)
Change in valuation allowance		7,819			(24.33	)
Intercompany debt restructuring		—			—
Outside basis difference		(4,408	)		13.72
Withholding tax		(1,372	)		4.27
Others		320			(1.00	)
Luxembourg
Permanent foreign currency gain (loss)		(2,710	)		8.43
Change in valuation allowance		2,231			(6.94	)
TPECs, hybrid and other interest		986			(3.06	)
Others		(267	)		0.83
Other foreign jurisdictions		(62	)		0.18
Changes in unrecognized tax benefits		—			—
Income tax benefit	$	(17,889	)		55.66	%


	Year Ended December 31, 2024
Provision computed at statutory rates	$	(7,463	)
Change in statutory tax rates		(2,329	)
Difference in foreign tax rates		1,936
Permanent differences
Derivative assets/liabilities adjustment		(6	)
TPECs, hybrid and other interest		1,262
Equity-based compensation		(61	)
Permanent foreign currency loss		(1,113	)
Penalty		77
Subpart F income		624
Intercompany debt restructuring		3,125
Other permanent differences		(145	)
Withholding tax		(172	)
Change in valuation allowance		(3,619	)
Tax credits claimed		(630	)
Uncertain tax positions liability		(3	)
Change in net operating loss carry-forwards		19
Foreign local taxes		42
Others		257
Income tax benefit	$	(8,199	)

Schedule of Composition of Net Deferred Income Tax Assets (Liabilities)

A summary of the composition of net deferred income tax assets (liabilities) as of December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Deferred tax assets
Inventory reserves	$	1,509		$	1,090
Accrued expenses		1,069			1,202
Property, plant and equipment		2,191			2,593
Accumulated severance benefits		8,128			8,024
Operating lease right-of-use liabilities		460			740
Foreign currency translation loss		362			24,271
NOL carry-forwards		126,147			96,358
Tax credit carry-forwards		16,379			15,149
Other long-term payable		851			2,205
Interest expense deduction limitation		—			3,150
Derivative liabilities		401			434
Outside basis difference		10,530			—
Others		2,826			8,905
Total deferred tax assets		170,853			164,121
Less: Valuation allowance		(97,631	)		(81,653	)
		73,222			82,468
Deferred tax liabilities
Prepaid expense		577			1,741
Severance benefit deposits		5,406			5,274
Operating lease right-of-use assets		444			715
Foreign currency translation gain		2,435			13,090
Others		151			8,870
Total deferred tax liabilities		9,013			29,690
Net deferred tax assets	$	64,209		$	52,778

Schedule of Changes in Valuation Allowance for Deferred Tax Assets

Changes in valuation allowance for deferred tax assets for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	81,653		$	87,201
Addition		11,708			—
NOL/ tax credit claimed/expired		(5,881	)		(38	)
Translation adjustments		10,151			(5,510	)
Ending balance	$	97,631		$	81,653

Schedule of Net Operating Loss Carry-Forwards Balance

The net operating loss carry-forwards balance as of December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025		2024
NOL carry-forwards	$	544,010	$	418,102

Schedule of Reconciliation of Total Amounts of Unrecognized Tax Benefits

A tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of each period is as follows (in thousands):


	Year Ended December 31,
	2025			2024
Unrecognized tax benefits, balance at the beginning	$	253		$	274
Additions based on tax positions related to the current year		54			51
Lapse of statute of limitations		(44	)		(54	)
Translation adjustments		13			(18	)
Unrecognized tax benefits, balance at the ending	$	276		$	253

Summary of Income Taxes Paid, Net of Refunds Received, by Jurisdiction

The Company paid income taxes, net of refunds received, by jurisdiction for the year ended December 31, 2025 as follows (in thousands):


	Year Ended December 31, 2025
U.S. federal	$	—
Korea		(2,301	)
Netherlands		268
Japan		103
Others		4
Total	$	(1,926	)

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

ASC 820 defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value measurements. ASC 820 requires, among other things, the Company’s valuation techniques used to measure fair value to maximize the use of observable inputs and minimize the use of unobservable inputs.

Fair Value of Financial Instruments

As of December 31, 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 December 31, 2025		Fair Value Measurement December 31, 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)	$	3	$	3		—	$	3		—
Liabilities:
Derivative liabilities (other current liabilities)	$	1,644	$	1,644		—	$	1,644		—
Derivative liabilities (other non-current liabilities)	$	126	$	126		—	$	126		—

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, the fair value of which approximates 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.

Fair Values Measured on a Non-recurring Basis

The Company’s non-financial assets, such as property, plant and equipment, and intangible assets are recorded at fair value upon acquisition and are remeasured at fair value only if an impairment charge is recognized. For the year ended December 31, 2025, the Company did not have any assets or liabilities measured at fair value on a non-recurring basis. For the year ended December 31, 2024, the Company remeasured the fair value of certain tangible and intangible assets in connection with the impairment assessment of its Display business, which was classified as discontinued operations in the current year.

- 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/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 12: 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 13: 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

Foreign Currency Gain (Loss), Net	12 Months Ended
Foreign Currency Gain (Loss), Net	Dec. 31, 2025
Foreign Currency [Abstract]
Foreign Currency Gain (Loss), Net	16. 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 December 31, 2025 and 2024, the outstanding intercompany loan balances including accrued interest between MSK and the Dutch subsidiary were $75,063 thousand and $257,670 thousand, respectively. The Korean won to U.S. dollar exchange rates were 1,434.9:1 and 1,470.0:1 using the first base rate as of December 31, 2025 and 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

Equity Incentive Plans

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Equity Incentive Plans

14.

Equity Incentive Plans

The Company adopted its 2009 Common Unit Plan, or the 2009 Plan, effective December 8, 2009, which is administered by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”). The 2009 Plan terminated in connection with the Company’s initial public offering in March 2011, and no additional options or other equity awards may be granted under the 2009 Plan. The Company adopted its 2011 Equity Incentive Plan, or the 2011 Plan, in March 2010. The Company amended and restated the 2011 Plan in February 2011, and the Company’s stockholders approved the amendment in March 2011 to reflect that it became effective in 2011 in connection with the Company’s initial public offering in March 2011. The 2011 Plan was amended on October 23, 2017, to revise the Compensation Recovery Policy of the 2011 Plan. The 2011 Plan was amended on April 26, 2018 to amend the tax withholding provisions as they relate to directed sales of shares. At the 2020 Annual Meeting of Stockholders, the Company’s stockholders approved its 2020 Equity and Incentive Compensation Plan, or the 2020 Plan, which is administered by the Compensation Committee. Following the adoption of the 2020 Plan, no further awards may be issued under the 2011 Plan. At the 2023 Annual Meeting of Stockholders held on May 18, 2023, the Company’s stockholders approved an increase of an additional 1,990,000 shares of the Company’s common stock available for issuance under the 2020 Plan.

Awards may be granted under the 2020 Plan to the Company’s employees, officers, directors, or certain consultants or those of any subsidiary of the Company. While the Company may grant incentive stock options only to employees, the Company may grant non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, dividend equivalents and cash-based awards or other stock-based awards to any eligible participant, subject to terms and conditions determined by the Compensation Committee. The term of any options granted under the 2020 Plan shall not exceed ten years from the date of grant. As of December 31, 2025 an aggregate maximum of 13,342,919 shares were authorized and 1,748,942 shares were reserved for all future grants.

Stock options and stock appreciation rights must have exercise prices at least equal to the fair market value of the stock at the time of their grant pursuant to the 2011 Plan and 2020 Plan. Stock options typically vest over one to three years following grant, subject to the participant’s continued service through the applicable vesting dates. As of December 31, 2025, no stock options or stock appreciation rights had been granted under 2020 Plan.

Restricted stock units granted under the 2011 Plan and 2020 Plan represent a right to receive shares of the Company’s common stock when the restricted stock unit vests. No monetary payment (other than applicable tax withholding) shall be required as a condition of receiving shares pursuant to a restricted stock unit, the consideration for which shall be services actually rendered to a participating company or for its benefit. Stock issued pursuant to any restricted stock unit may (but need not) be made subject to vesting conditions based upon the satisfaction of such service requirements, conditions, restrictions or performance criteria as shall be established by the Compensation Committee and set forth in the award agreement evidencing such award. Restricted stock units typically vest over one to three years following grant, subject to the participant’s continued service through the applicable vesting dates.

Restricted stock constitutes an immediate transfer of the ownership of shares of the Company’s common stock to the participant in consideration of the performance of services, entitling such participant to voting, dividend and other ownership rights, subject to the substantial risk of forfeiture and restrictions on transfer determined by the Compensation Committee for a period of time determined by the Compensation Committee or until certain management objectives specified by the Compensation Committee are achieved. Each grant of restricted stock may be made without additional consideration or in consideration of a payment by the participant that is less than the fair market value per share of common stock on the grant date. Stock issued pursuant to any restricted stock award may (but need not) be made subject to vesting conditions based upon the satisfaction of such service requirements, conditions, restrictions or performance criteria as shall be established by the Compensation Committee and set forth in the award agreement evidencing such award. A grant of restricted stock may require that any and all dividends and distributions paid on restricted stock that remains subject to a substantial risk of forfeiture be automatically deferred and/or reinvested in additional restricted stock, which will be subject to the same restrictions as the underlying restricted stock, but any such dividends or other distributions on restricted stock must be deferred until, and paid contingent upon, the vesting of such restricted stock.

The following summarizes restricted stock unit activities for the year ended December 31, 2025.


	Number of Restricted Stock Units			Weighted Average Grant-Date Fair Value of Restricted Stock Units
Outstanding at January 1, 2025		1,953,742		$	7.01
Granted		1,497,586			3.43
Vested		(529,189	)		5.42
Forfeited		(1,269,042	)		5.22
Outstanding at December 31, 2025		1,653,097		$	5.65

Total compensation expenses recorded for the restricted stock units associated with continuing operations were $2,533 thousand and $5,297 thousand for the years ended December 31, 2025 and 2024, respectively. As of December 31, 2025, there was $2,481 thousand of total unrecognized compensation cost related to unvested restricted stock units, which is expected to be recognized over a weighted average future period of 1.1 year. Total fair value of restricted stock units vested were $2,867 thousand and $4,603 thousand for the years ended December 31, 2025 and 2024, respectively.

The following summarizes stock option activities for the year ended December 31, 2025. At the date of grant, all options had an exercise price not less than the fair value of common stock (aggregate intrinsic value in thousands):


	Number of Options			Weighted Average Exercise Price of Stock Options		Aggregate Intrinsic Value of Stock Options		Weighted Average Remaining Contractual Life of Stock Options
Outstanding at January 1, 2024		728,792		$	7.19	$	—	1.1 years
Expired		(274,129	)	$	7.73		—		—
Forfeited		(52,036	)	$	6.53		—		—
Outstanding at December 31, 2025		402,627		$	6.91	$	—	0.5 years
Vested and Exercisable at December 31, 2025		402,627		$	6.91	$	—	0.5 years

There were no compensation expenses recorded for the stock options for the years ended December 31, 2025 and 2024.

Long-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule Of Principal Repayments

As of December 31, 2025, the aggregate principal amount outstanding under the CAPEX Loans was approximately $16,722 thousand, and the scheduled principal repayment amounts are as following (in thousands):


	Principal Repayments
2026	$	—
2027	$	1,045
2028	$	2,090
2029	$	2,090
2030	$	2,090
2031 – 2035	$	9,407

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

As of December 31, 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 December 31, 2025		Fair Value Measurement December 31, 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)	$	3	$	3		—	$	3		—
Liabilities:
Derivative liabilities (other current liabilities)	$	1,644	$	1,644		—	$	1,644		—
Derivative liabilities (other non-current liabilities)	$	126	$	126		—	$	126		—

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		—

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Supplemental Balance Sheet Information Related To Leases

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


		December 31,
Leases	Classification	2025		2024
Assets
Operating lease	Operating lease right-of-use assets	$	2,070	$	3,107
Finance lease	Property, plant and equipment, net		217		390
Total lease assets		$	2,287	$	3,497
Liabilities
Current
Operating lease	Operating lease liabilities	$	1,427	$	1,393
Finance lease	Other current liabilities		130		153
Non-current
Operating lease	Non-current operating lease liabilities		690		1,823
Finance lease	Other non-current liabilities		128		294
Total lease liabilities		$	2,375	$	3,663

Lease, Cost

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


	December 31,
	2025			2024
Weighted average remaining lease term
Operating leases	1.5 years			2.5 years
Finance leases	2.1 years			2.9 years
Weighted average discount rate
Operating leases		6.5	%		6.8	%
Finance leases		7.0	%		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):


	Year Ended December 31,
	2025		2024
Operating lease cost	$	1,781	$	1,868
Finance lease cost
Amortization of right-of-use assets		144		138
Interest on lease liabilities		26		35
Total lease cost	$	1,951	$	2,041

The above table does not include an immaterial cost of short-term leases for the years ended December 31, 2025 and 2024.

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


	Year Ended December 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,844	$	1,913
Operating cash flows from finance leases		26		35
Financing cash flows from finance leases		154		140

Schedule Of Future Lease Payments

The aggregate future lease payments for operating and finance leases as of December 31, 2025 are as follows (in thousands):


	Operating Leases			Finance Leases
2026	$	1,520		$	144
2027		701			110
2028		9			22
2029		—			2
Total future lease payments		2,230			278
Less: Imputed interest		(113	)		(20	)
Present value of future payments	$	2,117		$	258

Inventories (Tables)

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Summary of Inventories

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


	December 31,
	2025			2024
Finished goods	$	7,542		$	7,802
Semi-finished goods and work-in-process		29,245			26,797
Raw materials		4,198			3,607
Materials in-transit		—			61
Less: inventory reserve		(6,834	)		(7,732	)
Inventories, net	$	34,151		$	30,535

Changes in Inventory Reserve

Changes in inventory reserve for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	(7,732	)	$	(10,599	)
Change in reserve
Inventory reserve charged to costs of sales		(7,827	)		(6,979	)
Sale of previously reserved inventory		4,956			7,610
		(2,871	)		631
Write off		4,029			1,222
Translation adjustments		(260	)		1,014
Ending balance	$	(6,834	)	$	(7,732	)

Loss Per Share - Schedule of Computation of Basic and Diluted Earnings (Loss) Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Earnings Per Share, Basic [Abstract]
Loss from continuing operations	$ (14,249)	$ (27,310)
Loss from discontinued operations, net of tax	(15,475)	(26,998)
Net loss	$ (29,724)	$ (54,308)
Basic	36,218,138	37,774,280
Basic loss per common share
Continuing operations	$ (0.39)	$ (0.72)
Discontinued operations	(0.43)	(0.72)
Basic loss per common share	$ (0.82)	$ (1.44)
Diluted loss per common share-
Net loss Net loss allocated to common stockholders	$ (29,724)	$ (54,308)
Basic weighted average common stock outstanding	36,218,138	37,774,280
Net effect of dilutive equity awards	0	0
Diluted weighted average common stock outstanding	36,218,138	37,774,280
Continuing operations	$ (0.39)	$ (0.72)
Discontinued operations	(0.43)	(0.72)
Diluted loss per common share	$ (0.82)	$ (1.44)

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2025

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Accounts Receivable

Accounts receivable as of December 31, 2025 and 2024 consisted of the following (in thousands):


	December 31,
	2025			2024
Accounts receivable	$	26,327		$	28,818
Notes receivable		56			77
Less:
Allowance for credit losses		(70	)		(68	)
Sales return reserves		(291	)		(425	)
Accounts receivable, net	$	26,022		$	28,402

Allowance for Doubtful Accounts [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Changes in Receivables and Reserves

Changes in allowance for credit losses for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	(68	)	$	(78	)
Provision		—			(4	)
Write off		—			4
Translation adjustments		(2	)		10
Ending balance	$	(70	)	$	(68	)

Sales Return Reserve [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Changes in Sales Return Reserve

Changes in sales return reserves for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	(425	)	$	(348	)
Provision		(106	)		(142	)
Usage		247			—
Translation adjustments		(7	)		65
Ending balance	$	(291	)	$	(425	)

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	$ 664
Zero Cost Collar and Forward Contracts [Member] \| Nomura Financial Investment (Korea) Co., Ltd. [Member]
Derivative [Line Items]
Threshold amount of cash collateral	500	$ 1,200
Threshold amount of additional cash collateral	1,080	$ 1,080
Termination provisions for cash and cash equivalents	$ 30,000

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Business, Basis of Presentation and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

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 ("Power Analog Solutions") products and develops Power integrated circuit (“IC”) products. Power Analog Solutions 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, home appliance, other consumer electronics, automotive and industrial applications such as power suppliers, e-bikes, photovoltaic 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 Analog Solutions and Power IC 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 consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.

The Company has reclassified certain prior year amounts to conform to the current year’s presentation for discontinued operations, reflecting the shutdown of the 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 December 31, 2025. 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. See Note 2 “Discontinued Operations” for additional information.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company including its wholly-owned subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, stock-based compensation, property, plant and equipment, leases, other long-lived assets, accrued severance benefits, long-term employee benefits, and contingent liabilities, estimated future cash flows and other assumptions used in long-lived asset impairment tests, and calculation of current and deferred income taxes and deferred tax valuation allowances, among others. Although these estimates and assumptions are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may be significantly different from the estimates.

Discontinued Operations

The Company reports the results of operations of a business as discontinued operations when a disposal represents a strategic shift, including a disposal of a component of an entity, that has or will have a major effect on the Company’s operations and financial results, in accordance with Accounting Standards Codification (“ASC”) 205-20, “Presentation of Financial Statements—Discontinued Operations.” A business may qualify for discontinued operations presentation upon disposal by sale, abandonment, or other means when the applicable criteria are met. The results of discontinued operations are reported in “Income (loss) from discontinued operations, net of tax” in the accompanying consolidated statements of operations for all periods presented beginning in the period in which the business meets the classification criteria.

Foreign Currency Translation

The Company has assessed in accordance with ASC 830, “Foreign Currency Matters” (“ASC 830”), the functional currency of each of its subsidiaries in Luxembourg and the Netherlands and has designated the U.S. dollar to be their respective functional currencies. The Korean Won is the functional currency for the Company’s Korean subsidiary, which is the primary operating subsidiary of the Company. The Company and its other subsidiaries are utilizing their local currencies as their functional currencies. The financial statements of the subsidiaries in functional currencies other than the U.S. dollar are translated into the U.S. dollar in accordance with ASC 830. All the assets and liabilities are translated to the U.S. dollar at the end-of-period exchange rates. Capital accounts are determined to be of a permanent nature and are therefore translated using historical exchange rates. Revenues and expenses are translated using average exchange rates for the respective periods. Foreign currency translation adjustments arising from differences in exchange rates from period to period are included in the foreign currency translation adjustment account in accumulated other comprehensive income or loss of stockholders’ equity. Foreign currency translation gains or losses on transactions by the Company or its subsidiaries in a currency other than its or its subsidiaries’ functional currency are included in foreign currency gain (loss), net in its statements of operations

Cash and Cash Equivalents

Cash and cash equivalents are short-term, highly liquid investments with original maturities of three months or less from the date of purchase, or deposit accounts that can be withdrawn at any time without significant penalty.

Accounts Receivable Reserves

The Company makes estimates of expected credit losses for the allowance for credit losses based upon its assessment of various factors, including historical collection experience, the age of the accounts receivable balances, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers. The Company also records an estimate for sales returns, included within accounts receivable, net, based on the historical experience of the amount of goods that will be returned and refunded or replaced

Sales of Accounts Receivable

The Company accounts for transfers of financial assets under ASC 860, “Transfers and Servicing,” as either sales or financings. Transfers of financial assets that result in sales accounting are those in which (1) the transfer legally isolates the transferred assets from the transferor, (2) the transferee has the right to pledge or exchange the transferred assets and no condition both constrains the transferee’s right to pledge or exchange the assets and provides more than a trivial benefit to the transferor, and (3) the transferor does not maintain effective control over the transferred assets. If the transfer does not meet these criteria, the transfer is accounted for as a financing. Financial assets that are treated as sales are removed from the Company’s accounts with any realized gain or loss reflected in earning during the period of sale.

Inventories

Inventories are stated at the lower of cost or net realizable value, using the first in, first out method (“FIFO”). If net realizable value is less than cost at the balance sheet date, the carrying amount is reduced to the realizable value, and the difference is recognized as a loss on valuation of inventories within cost of sales. Inventory reserves are established when conditions indicate that the net realizable value is less than costs due to physical deterioration, obsolescence, changes in price levels, or other causes based on individual facts and circumstances. The Company evaluates the sufficiency of inventory reserves and takes into consideration historical usage, expected demand, anticipated sales price, new product development schedules, the effect new products might have on the sale of existing products, product age and other factors. Reserves are also established for excess inventory based on the Company’s current inventory levels and projected demand and its ability to sell those specific products. Situations that could cause these inventory

reserves include a decline in business and economic conditions, decline in consumer confidence caused by changes in market conditions, sudden and significant decline in demand for the Company’s products, inventory obsolescence because of rapidly changing technology and consumer requirements, or failure to estimate end customer demand properly. A reduction of these inventory reserves may be recorded if previously reserved items are subsequently sold as a result of unexpected changes to certain aforementioned situations.

In addition, as prescribed in ASC 330, “Inventory,” once a reserve is established for a particular item based on the Company’s assessment as described above, it is maintained until the related item is sold or scrapped as a new cost basis has been established that cannot subsequently be marked up. In addition, the cost of inventories is determined based on the normal capacity of the Company’s fabrication facility. In case the capacity utilization is lower than a certain level that management believes to be normal, the fixed overhead costs per production unit which exceeds those under normal capacity are charged to cost of sales rather than capitalized as inventories.

Advances to Suppliers

The Company, from time to time, may make advances in form of prepayments or deposits to suppliers to meet its planned production. The Company recorded advances of $512 thousand and $2,294 thousand as other current assets as of December 31, 2025 and 2024, respectively.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as set forth below.


Buildings		30 – 40 years
Building related structures		10 – 20 years
Machinery and equipment		10 – 12 years
Others		3 – 10 years

Routine maintenance and repairs are charged to expense as incurred. Expenditures that enhance the value or significantly extend the useful lives of the related assets are capitalized.

Impairment of Long-Lived Assets

The Company reviews property, plant and equipment and other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable in accordance with ASC 360, “Property, Plant and Equipment” (“ASC 360”). Recoverability is measured by comparing its carrying amount with the future net undiscounted cash flows the assets are expected to generate. If such assets are considered to be impaired, the impairment is measured as the difference between the carrying amount of the assets and the Level 3 fair value of assets using the present value of the future net cash flows generated by the respective long-lived assets.

Determining fair value requires the use of estimates and assumptions. Such estimates and assumptions include revenue growth rates, estimated cost structure and operating expense, weighted average costs of capital, and future market conditions, among others.

Leases

The Company determines if an arrangement is a lease at inception of a contract considering whether the arrangement conveys the right to control the use of an identified asset over the period of use. Control of an underlying asset is conveyed if the Company has the right to direct the use of, and to obtain substantially all of the economic benefits from the use of, the identified asset. The Company accounts for lease transactions as either an operating or a finance lease, depending on the terms of the underlying lease arrangement. Assets related to operating leases are recorded on the balance sheet as operating lease right-of-use assets; the related liabilities are recorded as operating lease liabilities for the current portion and non-current operating lease liabilities for the non-current portion. Finance lease right-of-use assets are included in property, plant and equipment, net and the related lease liabilities are included in other current liabilities and other non-current liabilities on the consolidated balance sheets.

Right-of-use assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term. As most of the Company’s leases do not provide a readily

determinable implicit rate, the Company estimates its incremental borrowing rates in determining the present value of future payments based on the lease term of each lease and market information available at commencement date. Finance lease right-of-use assets are amortized on a straight-line basis over the respective lease term with the interest expense on the lease liability recorded using the interest method. The amortization and interest expense are recorded separately in the consolidated statements of operations. Amortization of operating lease right-of-use assets and interest expense on operating lease liabilities are recognized on a straight-line basis over the respective lease term.

An extension or contraction of a lease term is considered if the related option to extend or early terminate the lease is reasonably certain to be exercised by the Company. Operating lease right-of-use assets may also include any advance lease payments made and exclude lease incentives and initial direct costs incurred. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, lease and non-lease components are accounted for as a single lease component.

The Company does not recognize operating lease right-of-use assets and operating lease liabilities that arise from short-term leases but rather recognizes fixed lease payments in the statements of operations on a straight-line basis and variable payments in the period in which the related obligations incur.

Intangible Assets

Intellectual property assets acquired represent rights under patents, trademarks and property use rights and are amortized over their respective periods of benefit, ranging up to ten years, on a straight-line basis.

Fair Value Disclosures of Financial Instruments

The Company follows ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”) for measurement and disclosures about fair value of its financial instruments. ASC 820 establishes a framework for measuring fair value in U.S. GAAP, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by ASC 820 are:

Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

Level 2—Inputs (other than quoted market prices included in Level 1) are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are either directly or indirectly observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount future amounts to present value using market-based observable inputs, including interest rate curves, credit spreads, foreign exchange rates, and forward and spot prices for currencies.

Level 3—Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Valuation of instruments includes unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

As defined by ASC 820, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale, which was further clarified as the price that would be received to sell an asset or paid to transfer a liability (“an exit price”) in an orderly transaction between market participants at the measurement date. The carrying amounts of the Company’s financial assets and liabilities, such as cash equivalents, accounts receivable, other receivables, accounts payable and other accounts payable approximate their fair values because of the short maturity of these instruments.

Accrued Severance Benefits

The majority of accrued severance benefits are for employees in the Company’s Korean subsidiary. Pursuant to 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 December 31, 2025, 97% of all employees of the Company were eligible for severance benefits.

Beginning in July 2018, the Company began contributing to certain severance insurance deposit accounts a percentage of severance benefits, which may be adjusted from time to time, accrued for eligible employees for their services beginning January 1, 2018 pursuant to Employee Retirement Benefit Security Act of Korea. These accounts consist of time deposits and other guaranteed principal and interest accounts, and are maintained at insurance companies, banks or security companies for the benefit of the Company’s employees.

In accordance with the National Pension Act of the Republic of Korea, a certain portion of accrued severance benefits was deposited with the National Pension Fund and deducted from the accrued severance benefits. The contributed amount is paid to employees from the National Pension Fund upon their retirement.

Revenue Recognition

The Company recognizes revenue when it satisfies the performance obligation of transferring control over a product or service to a customer. Revenue is measured based on the consideration specified in a contract with a customer, which consideration is paid in exchange for a product or service.

The Company sells products manufactured based on the Company’s design. The Company’s products are either standardized with an alternative use or the Company does not have an enforceable right to payment for the related manufacturing services completed to date. Therefore, revenue for the products is recognized when a customer obtains control of the product, which is generally upon product shipment, delivery at the customer’s location or upon customer acceptance, depending on the terms of the arrangement.

In accordance with revenue recognition guidance, any tax assessed by a governmental authority that is both imposed on and concurrent with a specific revenue-producing transaction, and that is collected by the Company from a customer, is excluded from revenue and related revenue is presented in the consolidated statements of operations on a net basis.

The Company provides warranties under which customers can return defective products. The Company estimates the costs related to warranty claims and repair or replacements, and records them as components of cost of sales.

In addition, the Company offers sales returns (other than those that relate to defective products under warranty), cash discounts for early payments and sales incentives, and certain allowances to the Company’s customers, including the Company’s distributors. The Company records reserves for those returns, discounts, incentives and allowances as a deduction from sales, based on historical experience and other quantitative and qualitative factors.

Substantially all of the Company’s contracts are one year or less in duration. The standard payment terms with customers are generally thirty to sixty days from the time of shipment, product delivery to the customer’s location or customer acceptance, depending on the terms of the related arrangement.

All amounts billed to a customer related to shipping and handling are classified as sales while all costs incurred by the Company for shipping and handling are classified as selling, general and administrative expenses. The amounts charged to selling, general and administrative expenses were $649 thousand and $635 thousand for the years ended December 31, 2025 and 2024, respectively.

The Company recorded deferred revenue of $741 thousand and $1,120 thousand as other current liabilities as of December 31, 2024 and 2023, respectively. Of the recorded deferred revenue, $712 thousand and $1,032 thousand were recognized as revenue during the years ended December 31, 2025 and 2024, respectively.

Advertising

The Company expenses advertising costs as incurred. Advertising expenses were $34 thousand and $27 thousand for the years ended December 31, 2025 and 2024, respectively.

Product Warranties

The Company records, in other current liabilities, warranty liabilities for the estimated costs that may be incurred under its basic limited warranty. The standard limited warranty period is one to two years for the majority of products. This warranty covers defective products, and related liabilities are accrued when product revenues are recognized. Factors that affect the Company’s warranty liabilities include historical and anticipated rates of warranty claims and repair or replacement costs per claim to satisfy the Company’s warranty obligation. The Company periodically assesses the adequacy of those recorded warranty liabilities and adjusts its estimates when necessary.

Derivative Financial Instruments

The Company applies the provisions of ASC 815, “Derivatives and Hedging” (“ASC 815”). This statement requires the recognition of all derivative instruments as either assets or liabilities measured at fair value.

Under the provisions of ASC 815, the Company may designate a derivative instrument as hedging the exposure to variability in expected future cash flows that are attributable to a particular risk (a “cash flow hedge”) or hedging the exposure to changes in the fair value of an asset or a liability (a “fair value hedge”). Special accounting for qualifying hedges allows the effective portion of a derivative instrument’s gains and losses to offset related results on the hedged item in the consolidated statements of operations and requires that a company formally document, designate and assess the effectiveness of the transactions that receive hedge accounting treatment. Both at the inception of a hedge and on an ongoing basis, a hedge must be expected to be highly effective in achieving offsetting changes in cash flows or fair value attributable to the underlying risk being hedged. If the Company determines that a derivative instrument is no longer highly effective as a hedge, it discontinues hedge accounting prospectively and future changes in the fair value of the derivative are recognized in current earnings. The Company assesses hedge effectiveness at the end of each quarter. The Company does not offset derivative assets and liabilities within the consolidated balance sheets.

In accordance with ASC 815, changes in the fair value of derivative instruments that are cash flow hedges are recognized in accumulated other comprehensive income or loss and reclassified into earnings in the period in which the hedged item affects earnings. Derivative instruments that do not qualify, or cease to qualify, as hedges must be adjusted to fair value and the adjustments are recorded through net income or loss.

The cash flows from derivative instruments receiving hedge accounting treatment are classified in the same categories as the hedged items in the consolidated statements of cash flows.

Research and Development

Research and development expenses are expensed as incurred and include wafers, masks, employee expenses, contractor fees, building costs, utilities and administrative expenses.

Licensed Patents and Technologies

The Company has entered into a number of royalty agreements to license patents and technology used in the design of its products. The Company carries two types of royalties: lump-sum and running basis. Lump-sum royalties, which require initial payments, usually paid in installments, represent a non-refundable commitment, such that the total present value of these payments is recorded on the consolidated balance sheet as a prepaid expense for the current portion and other non-current assets for the non-current portion, and the related liabilities are recorded as other non-current liabilities upon execution of the agreements and the costs are amortized over the contract period using the straight-line method and charged to research and development expenses in the consolidated statements of operations.

Running royalties are paid based on the revenue of related products sold by the Company.

Stock-Based Compensation

The Company follows the provisions of ASC 718, “Compensation-Stock Compensation” (“ASC 718”). Under ASC 718, stock-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as expense, net of the estimated forfeiture rate, over the requisite service period. As permitted under ASC 718, the Company elected to recognize compensation expense for all options with graded vesting based on the graded attribution method.

Earnings (Loss) Per Share

In accordance with ASC 260, “Earnings Per Share”, the Company computes basic earnings per share by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution of potential common stock outstanding during the period including stock options and restricted stock units, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options and restricted stock units). In determining the hypothetical shares repurchased, the Company uses the average share price for the period. In the case that earnings are negative, any potential common stock equivalents would have the effect of being anti-dilutive in the computation of net loss per share.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, “Income Taxes” (“ASC 740”). ASC 740 requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in a company’s financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based upon the difference between the financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Income tax expense (benefit) is the tax payable (receivable) for the period and the change during the period in deferred tax assets and liabilities. Valuation allowances are established when it is necessary to reduce deferred tax assets to the amount expected to be realized. The evaluation of the recoverability of the deferred tax assets and the need for a valuation allowance requires management to weigh all available positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax assets will not be realized. Realization of the future tax benefits related to the deferred tax assets is dependent on many factors, including sales forecast, historical operating results, expected timing of the reversals of existing temporary differences, the Company’s ability to generate future taxable income, and tax planning strategies.

The Company recognizes and measures uncertain tax positions taken or expected to be taken in a tax return utilizing a two-step process. In the first step, recognition, the Company determines whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The second step addresses measurement of a tax position that meets the more likely than not criteria. The tax position is measured at the largest amount of benefit that has a likelihood of greater than 50 percent of being realized upon ultimate settlement.

Concentration of Credit Risk

The Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral for customers on accounts receivable. The Company maintains reserves for potential credit losses, which are periodically reviewed.

Recently Adopted Accounting Pronouncements

In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which enhances 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. The Company adopted ASU 2023-09 during the year ended December 31, 2025. See “Note 17. Income Taxes” to these consolidated financial statements below for more information.

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued 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 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.

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Summary of Accrued Expenses

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


	December 31,
	2025		2024
Payroll, benefits and related taxes, excluding severance benefits	$	4,999	$	5,518
Withholding tax attributable to intercompany interest income		7		1,419
Outside service fees		841		1,221
Others		1,082		490
Accrued expenses	$	6,929	$	8,648

Geographic and Other Information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Product Categories

Revenues for the year ended December 31, 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	$	54,336	$	—	$	19,024	$	35,312	$	54,336
Power Analog Solutions		166,804		166,804		—		—		166,804
	$	221,140	$	166,804	$	19,024	$	35,312	$	221,140

Schedule of Operating Segments

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 statements of operations.


	Year Ended December 31,
	2025		2024
Revenues
Power Solutions business
Power Analog Solutions	$	160,477	$	166,804
Power IC		18,383		19,024
Total Power Solutions business		178,860		185,828
Transitional Fab 3 foundry services		—		10,597
Total revenues	$	178,860	$	196,425


	Year Ended December 31,
	2025		2024
Cost of Sales
Power Solutions business
Power Analog Solutions	$	136,628	$	135,302
Power IC		10,839		10,582
Total Power Solutions business		147,467		145,884
Transitional Fab 3 foundry services		—		11,814
Total cost of sales	$	147,467	$	157,698


	Year Ended December 31,
	2025		2024
Gross Profit
Power Solutions business
Power Analog Solutions	$	23,849	$	31,502
Power IC		7,544		8,442
Total Power Solutions business		31,393		39,944
Transitional Fab 3 foundry services		—		(1,217	)
Total gross profit	$	31,393	$	38,727

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):


	Year Ended December 31,
	2025		2024
Korea	$	88,012	$	79,901
Asia Pacific (other than Korea)		82,022		98,745
United States		4,964		2,120
Europe		3,862		5,062
Total	$	178,860	$	185,828

Stock Repurchases

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Stock Repurchases

13.

Stock Repurchases

Stock Repurchase Program

On July 19, 2023, the Board of Directors authorized a new $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.

From January 2025 to December 2025, the Company repurchased 1,093,748 shares of its common stock in the open market for an aggregate purchase price of $3.6 million and a weighted average price per share of $3.33 under the stock repurchase program.

Foreign Currency Gain (Loss), Net - Additional Information (Detail) $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Foreign Currency Transaction [Abstract]
Exchange rates using first base rate	1,434.9	1,470
Intercompany loan balances	$ 75,063	$ 257,670

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 194,232	$ 182,724
Less: accumulated depreciation	(128,171)	(115,236)
Land	11,679	11,237
Construction in progress	22,464	2,738
Property, plant and equipment, net	100,204	81,463
Buildings and Related Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,371	21,873
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	137,024	126,971
Finance Lease Right-of-Use Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	495	606
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 32,342	$ 33,274

Leases - Supplemental Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Operating lease	$ 2,070	$ 3,107
Total lease assets	2,287	3,497
Current
Operating	1,427	1,393
Non-current
Operating	690	1,823
Total lease liabilities	2,375	3,663
Operating Lease Right Of Use Assets [Member]
Assets
Operating lease	2,070	3,107
Property, Plant and Equipment, Net [Member]
Assets
Finance lease	$ 217	$ 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	$ 1,427	$ 1,393
Other Current Liabilities [Member]
Current
Finance	$ 130	$ 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	$ 690	$ 1,823
Other Noncurrent Liabilities [Member]
Non-current
Finance	$ 128	$ 294
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Early Termination And Other Charges

12 Months Ended

Dec. 31, 2025

Early Termination And Other Charges [Abstract]

Early Termination And Other Charges

15.

Early Termination and Other Charges

As of August 1, 2025, the Company implemented a voluntary resignation program (the “Program”) as part of its cost reduction initiatives to better align its spending level with a strategic focus on becoming a pure-play Power company. The shutdown of the Display business resulted in certain shared function positions becoming redundant, as those functions had supported both the Display and Power businesses. Under the Program, the Company recorded termination-related charges of $2,599 thousand in its consolidated statements of operations, classified as “early termination and other charges” for the year ended December 31, 2025.

In addition, for the year ended December 31, 2025, the Company recorded $1,745 thousand of certain executive separation benefits and $496 thousand of one-time employee incentives, which were also classified as “early termination and other charges” in the consolidated statements of operations.

For the year ended December 31, 2024, the Company recorded $1,589 thousand of one-time cumulative financial impact in connection with certain employee benefits, which was classified as “early termination and other charges” in the consolidated statements of operations.

Income Taxes - Summary Of Composition Of Net Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets
Inventory reserves	$ 1,509	$ 1,090
Accrued expenses	1,069	1,202
Property, plant and equipment	2,191	2,593
Accumulated severance benefits	8,128	8,024
Operating lease right-of-use liabilities	460	740
Foreign currency translation loss	362	24,271
NOL carry-forwards	126,147	96,358
Tax credit carry-forwards	16,379	15,149
Other long-term payable	851	2,205
Interest expense deduction limitation	0	3,150
Derivative liabilities	401	434
Outside basis difference	10,530	0
Others	2,826	8,905
Total deferred tax assets	170,853	164,121
Less: Valuation allowance	(97,631)	(81,653)	$ (87,201)
Deferred tax assets, net	73,222	82,468
Deferred tax liabilities
Prepaid expense	577	1,741
Severance benefit deposits	5,406	5,274
Operating lease right-of-use assets	444	715
Foreign currency translation gain	2,435	13,090
Others	151	8,870
Total deferred tax liabilities	9,013	29,690
Net deferred tax assets	$ 64,209	$ 52,778

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of intangible assets

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


	December 31, 2025
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	7,672	$	(7,218	)	$	454
Intangible assets	$	7,672	$	(7,218	)	$	454


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

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	$ 7,672	$ 7,599
Accumulated amortization	(7,218)	(7,092)
Intangible asset, Net amount	454	507
Intellectual Property Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	7,672	7,599
Accumulated amortization	(7,218)	(7,092)
Intangible asset, Net amount	$ 454	$ 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

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+ Details

Business, Basis of Presentation and Significant Accounting Policies (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash equivalents, highly liquid investments original maturity date	three months
Percentage of employees eligible for severance benefits	97.00%
Revenue, Performance Obligation, Description of Timing	Substantially all of the Company’s contracts are one year or less in duration. The standard payment terms with customers are generally thirty to sixty days from the time of shipment, product delivery to the customer’s location or customer acceptance, depending on the terms of the related arrangement.
Selling, general and administrative expenses	$ 35,116	$ 38,099
Deferred revenue recognized	712	1,032
Advertising expenses	$ 34	27
Percentage of tax benefit realized upon settlement	50.00%
Intellectual Property Assets [Member] \| Maximum [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of Intangible assets	10 years
Shipping and Handling [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Selling, general and administrative expenses	$ 649	635
Other Current Assets [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Prepayments to suppliers	$ 512	2,294
Other Current Liabilities [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Deferred revenue		$ 741	$ 1,120

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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


	December 31,
	2025			2024
Buildings and related structures	$	24,371		$	21,873
Machinery and equipment		137,024			126,971
Finance lease right-of-use assets		495			606
Others		32,342			33,274
		194,232			182,724
Less: accumulated depreciation		(128,171	)		(115,236	)
Land		11,679			11,237
Construction in progress		22,464			2,738
Property, plant and equipment, net	$	100,204		$	81,463

Aggregate depreciation expenses associated with continuing operations totaled $12,332 thousand and $14,133 thousand for the years ended December 31, 2025 and 2024, respectively.

Pledge Agreement

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 in Gumi, Korea.

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

Accrued Severance Benefits (Tables)

12 Months Ended

Dec. 31, 2025

Postemployment Benefits [Abstract]

Changes in Accrued Severance Benefits

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


	Year Ended December 31,
	2025			2024
Beginning balance	$	45,594		$	45,932
Provisions		3,639			8,020
Severance payments		(13,567	)		(2,407	)
Translation adjustments		1,394			(5,951	)
		37,060			45,594
Less: Cumulative contributions to severance insurance deposit accounts		(25,542	)		(28,476	)
The National Pension Fund		(16	)		(24	)
Accrued severance benefits, net	$	11,502		$	17,094

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	$	96
2027	$	394
2028	$	—
2029	$	1,710
2030	$	2,204
2031 – 2036	$	15,866

Accounts Receivable - Schedule of Changes in Sales Return Reserve (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Beginning balance	$ (425)	$ (348)
Provision	(106)	(142)
Usage	247
Translation adjustments	(7)	65
Ending balance	$ (291)	$ (425)

Discontinued Operations - Schedule of Cash Flow Information Related to Discontinued Operation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Significant non-cash operating activities:
Impairment charges	$ 12,424	$ 4,637
Discontinued Operations [Member]
Significant non-cash operating activities:
Depreciation and amortization	381	1,723
Provision for severance benefits	(219)	1,806
Stock-based compensation	(353)	917
Impairment charges	12,424	4,637
Investing activities:
Capital expenditures	$ (99)	$ (2,747)

Geographic and Other Information - Additional Information (Detail) - Segments	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Segments	1
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	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.
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Ten Customers [Member] \| Power solutions business
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	74.30%	73.40%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer One [Member] \| Power solutions business
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	29.70%	25.40%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Power solutions business
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage		42.30%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Top Customer One [Member] \| Power solutions business
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	35.40%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Top Customer Two [Member] \| Power solutions business
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	15.70%
Geographic Concentration Risk [Member] \| Property, Plant and Equipment, Net [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	99.80%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| Taiwan [Member] \| Power solutions business
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	13.30%	9.10%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| Greater China (China and Hong Kong) [Member] \| Power solutions business
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	78.20%	83.50%

Accounts Receivable - Schedule of Accounts Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts receivable	$ 26,327	$ 28,818
Notes receivable	56	77
Allowance for credit losses	(70)	(68)	$ (78)
Sales return reserves	(291)	(425)	$ (348)
Accounts receivable, net	$ 26,022	$ 28,402

Discontinued Operations - Schedule of Results From Discontinued Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operating expenses:
Loss from discontinued operations, net of tax	$ (15,475)	$ (26,998)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	30,673	35,312
Cost of sales	17,444	22,124
Gross profit	13,229	13,188
Operating expenses:
Early termination charges	1,561	0
Impairment and other charges	12,764	5,065
Total operating expenses	25,760	40,246
Operating loss from discontinued operations	(12,531)	(27,058)
Interest income	214	451
Interest expense	(290)	(368)
Foreign currency gain (loss), net	(244)	(159)
Other income, net	390	0
Loss from discontinued operations before income tax expense	(12,461)	(27,134)
Income tax expense, net	3,014	(136)
Loss from discontinued operations, net of tax	(15,475)	(26,998)
Selling, general and administrative expenses \| Discontinued Operations
Operating expenses:
Total operating expenses	1,715	8,999
Research and development expenses \| Discontinued Operations
Operating expenses:
Total operating expenses	$ 9,720	$ 26,182

Inventories

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Inventories

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


	December 31,
	2025			2024
Finished goods	$	7,542		$	7,802
Semi-finished goods and work-in-process		29,245			26,797
Raw materials		4,198			3,607
Materials in-transit		—			61
Less: inventory reserve		(6,834	)		(7,732	)
Inventories, net	$	34,151		$	30,535

Changes in inventory reserve for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	(7,732	)	$	(10,599	)
Change in reserve
Inventory reserve charged to costs of sales		(7,827	)		(6,979	)
Sale of previously reserved inventory		4,956			7,610
		(2,871	)		631
Write off		4,029			1,222
Translation adjustments		(260	)		1,014
Ending balance	$	(6,834	)	$	(7,732	)

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.

Income Taxes - Summary Of Components Of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income (loss) before income tax expense (benefit)
Domestic	$ 14,941	$ (10,955)
Foreign	(47,079)	(24,554)
Loss from continuing operations before income tax benefit, net	(32,138)	(35,509)
Current income tax expense (benefit)
Domestic	(0)	0
Foreign	(2,740)	184
Uncertain tax position liability (foreign)	10	(3)
Current income tax expense (benefit)	(2,730)	181
Deferred income tax benefit
Domestic	834	(1,340)
Foreign	(15,993)	(7,040)
Deferred income tax benefit	(15,159)	(8,380)
Income tax benefit, Amount	$ (17,889)	$ (8,199)

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Mar. 13, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float				$ 139,249,768
Entity Common Stock, Shares Outstanding			36,440,854
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement relating to its 2026 annual meeting of stockholders will be incorporated by reference into Part III of this Annual Report on Form 10-K or included by amendment to this report within 120 days after the end of the fiscal year to which this report relates.
Auditor Opinion [Text Block]	Opinion on the Financial Statements We have audited the accompanying consolidated balance sheet of Magnachip Semiconductor Corporation and subsidiaries (the Company) as of December 31, 2025, the related consolidated statements of operations, comprehensive loss, changes in stockholders' equity and cash flows for the year then ended, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025 and the results of its operations and its cash flows for the year then ended, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated March 16, 2026 expressed an unqualified opinion thereon.
Auditor Name	Ernst & Young Han Young	Samil PricewaterhouseCoopers
Auditor Location	Seoul, Republic of Korea	Seoul, Korea
Auditor Firm ID	1437	1103

Geographic and Other Information - Schedule of Operating Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Total revenues	$ 178,860	$ 196,425
Total cost of sales	147,467	157,698
Total gross profit	31,393	38,727
Power solutions business
Segment Reporting Information [Line Items]
Total revenues	178,860	185,828
Fab Three Foundry Services [Member]
Segment Reporting Information [Line Items]
Total revenues	0	10,597
Total cost of sales		11,814
Total gross profit		(1,217)
Operating Segments [Member] \| Power solutions business
Segment Reporting Information [Line Items]
Total revenues	178,860	185,828
Total cost of sales	147,467	145,884
Total gross profit	31,393	39,944
Operating Segments [Member] \| Power solutions business \| Power Analog Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	160,477	166,804
Total cost of sales	136,628	135,302
Total gross profit	23,849	31,502
Operating Segments [Member] \| Power solutions business \| Power Ic [Member]
Segment Reporting Information [Line Items]
Total revenues	18,383	19,024
Total cost of sales	10,839	10,582
Total gross profit	$ 7,544	$ 8,442

- Definition

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

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

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+ Details

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Loss Per Common Share

The following table illustrates the computation of basic and diluted loss per common share for the years ended December 31, 2025 and 2024:


	Year Ended December 31,
	2025			2024
	(In thousands of U.S. dollars, except share data)
Basic loss per common share
Loss from continuing operations	$	(14,249	)	$	(27,310	)
Loss from discontinued operations, net of tax		(15,475	)		(26,998	)
Net loss	$	(29,724	)	$	(54,308	)
Basic weighted average common stock outstanding		36,218,138			37,774,280
Basic loss per common share
Continuing operations	$	(0.39	)	$	(0.72	)
Discontinued operations	$	(0.43	)	$	(0.72	)
Total	$	(0.82	)	$	(1.44	)
Diluted loss per common share
Loss from continuing operations	$	(14,249	)	$	(27,310	)
Loss from discontinued operations, net of tax		(15,475	)		(26,998	)
Net loss	$	(29,724	)	$	(54,308	)
Basic weighted average common stock outstanding		36,218,138			37,774,280
Net effect of dilutive equity awards		—			—
Diluted weighted average common stock outstanding		36,218,138			37,774,280
Diluted loss per common share
Continuing operations	$	(0.39	)	$	(0.72	)
Discontinued operations	$	(0.43	)	$	(0.72	)
Total	$	(0.82	)	$	(1.44	)

Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share

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


	Year Ended December 31,
	2025		2024
Options		402,627		728,792
Restricted Stock Units		1,653,097		1,953,742

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

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 1 year to 4 years.

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

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


		December 31,
Leases	Classification	2025		2024
Assets
Operating lease	Operating lease right-of-use assets	$	2,070	$	3,107
Finance lease	Property, plant and equipment, net		217		390
Total lease assets		$	2,287	$	3,497
Liabilities
Current
Operating lease	Operating lease liabilities	$	1,427	$	1,393
Finance lease	Other current liabilities		130		153
Non-current
Operating lease	Non-current operating lease liabilities		690		1,823
Finance lease	Other non-current liabilities		128		294
Total lease liabilities		$	2,375	$	3,663

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


	December 31,
	2025			2024
Weighted average remaining lease term
Operating leases	1.5 years			2.5 years
Finance leases	2.1 years			2.9 years
Weighted average discount rate
Operating leases		6.5	%		6.8	%
Finance leases		7.0	%		7.1	%

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


	Year Ended December 31,
	2025		2024
Operating lease cost	$	1,781	$	1,868
Finance lease cost
Amortization of right-of-use assets		144		138
Interest on lease liabilities		26		35
Total lease cost	$	1,951	$	2,041

The above table does not include an immaterial cost of short-term leases for the years ended December 31, 2025 and 2024.

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


	Year Ended December 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,844	$	1,913
Operating cash flows from finance leases		26		35
Financing cash flows from finance leases		154		140

Non-cash transaction amounts of lease liabilities arising from obtaining right-of-use assets were $1,225 thousand and $959 thousand for the years ended December 31, 2025 and 2024, respectively.

The aggregate future lease payments for operating and finance leases as of December 31, 2025 are as follows (in thousands):


	Operating Leases			Finance Leases
2026	$	1,520		$	144
2027		701			110
2028		9			22
2029		—			2
Total future lease payments		2,230			278
Less: Imputed interest		(113	)		(20	)
Present value of future payments	$	2,117		$	258

Accrued Severance Benefits - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2025
Percentage of employees eligible for severance benefits	97.00%
Retirement age of employees	60 years
Korea [Member] \| Minimum [Member]
Korea's mandatory retirement age	60 years

Business, Basis of Presentation and Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	Dec. 31, 2025
Building [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	40 years
Building [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	30 years
Buildings and Related Structures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	20 years
Buildings and Related Structures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	10 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	12 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	10 years
Others [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	10 years
Others [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	3 years

Long-Term Borrowings

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Long-Term Borrowings

11.

Long-Term Borrowings

Term Loan

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 December 31, 2025, approximately $27,877 thousand aggregate principal amount of the Term Loan was outstanding, bearing interest at a variable rate of 3.78% per annum as of that date.

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 have been and 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 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.

During 2025, under its existing Equipment Financing Credit Agreement with KDB, MSK entered into three CAPEX Loans in the aggregate principal amount of KRW 23,995,000,000, consisting of (i) KRW 9,520,000,000 on June 26, 2025, (ii) KRW 5,075,000,000 on September 26, 2025, and (iii) KRW 9,400,000,000 on December 30, 2025 (approximately $16,722 thousand in the aggregate based on the KRW/USD exchange rate of 1,434.9:1 as of December 31, 2025, as quoted by KEB Hana Bank). The CAPEX Loans bear a weighted average interest rate of 2.91% per annum and mature on June 26, 2035.


	Principal Repayments
2026	$	—
2027	$	1,045
2028	$	2,090
2029	$	2,090
2030	$	2,090
2031 – 2035	$	9,407

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of derivative contracts as of December 31, 2025 are as follows (in thousands):


Date of transaction	Type of derivative	Total notional amount		Month of settlement
February 03, 2025	Zero cost collar	$	9,000	January 2026 to March 2026
July 10, 2025	Zero cost collar	$	9,000	April 2026 to June 2026
July 17, 2025	Zero cost collar	$	9,000	July 2026 to September 2026
September 30, 2025	Zero cost collar	$	27,000	January 2026 to December 2026
November 07, 2025	Zero cost collar	$	42,000	April 2026 to June 2027

Details of derivative contracts as of December 31, 2024 are as follows (in thousands):


Date of transaction	Type of derivative	Total notional amount		Month of settlement
April 05, 2024	Zero cost collar	$	9,000	January 2025 to March 2025
July 09, 2024	Zero cost collar	$	18,000	April 2025 to September 2025
October 17, 2024	Zero cost collar	$	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 December 31, 2025 and 2024 are as follows (in thousands):


		December 31,
Derivatives designated as hedging instruments:		2025		2024
Asset Derivatives:
Zero cost collars	Other current assets	$	3	$	—
Liability Derivatives:
Zero cost collars	Other current liabilities	$	1,644	$	1,956
Zero cost collars	Other non-current liabilities	$	126	$	—

Offsetting of Derivative Assets and Liabilities

Offsetting of derivative assets and liabilities as of December 31, 2025 are as follows (in thousands):


	Gross amounts of		Gross amounts		Net amounts of assets/liabilities		Gross amounts not offset in the balance sheets
As of December 31, 2025	recognized assets/liabilities		offset in the balance sheets		presented in the balance sheets		Financial instruments		Cash collateral pledged			Net amount
Asset Derivatives:
Zero cost collars	$	3	$	—	$	3	$	—	$	—		$	3
Liability Derivatives:
Zero cost collars	$	1,770	$	—	$	1,770	$	—	$	(1,200	)	$	570

Offsetting of derivative liabilities as of December 31, 2024 are as follows (in thousands):


	Gross amounts of		Gross amounts		Net amounts of liabilities		Gross amounts not offset in the balance sheets
As of December 31, 2024	recognized liabilities		offset in the balance sheets		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 years ended December 31, 2025 and 2024 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of 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
	2025			2024				2025			2024				2025			2024
Zero cost collars	$	(748	)	$	(2,988	)	Net sales	$	(1,042	)	$	(868	)	Other income, net	$	(43	)	$	77

Summary Of Cash Deposits

The Company set aside cash deposits 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 December 31, 2025 and 2024 are as follows (in thousands):


	December 31,
Counterparty	2025		2024
SC	$	—	$	1,000
Total	$	—	$	1,000

Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Unit Activities

The following summarizes restricted stock unit activities for the year ended December 31, 2025.


	Number of Restricted Stock Units			Weighted Average Grant-Date Fair Value of Restricted Stock Units
Outstanding at January 1, 2025		1,953,742		$	7.01
Granted		1,497,586			3.43
Vested		(529,189	)		5.42
Forfeited		(1,269,042	)		5.22
Outstanding at December 31, 2025		1,653,097		$	5.65

Summary of Stock Option Activities


	Number of Options			Weighted Average Exercise Price of Stock Options		Aggregate Intrinsic Value of Stock Options		Weighted Average Remaining Contractual Life of Stock Options
Outstanding at January 1, 2024		728,792		$	7.19	$	—	1.1 years
Expired		(274,129	)	$	7.73		—		—
Forfeited		(52,036	)	$	6.53		—		—
Outstanding at December 31, 2025		402,627		$	6.91	$	—	0.5 years
Vested and Exercisable at December 31, 2025		402,627		$	6.91	$	—	0.5 years

Income Taxes - Difference Between Provision for Domestic and Foreign Income Taxes and Amount Calculated by Statutory Tax Rate to Net Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Effective Income Tax Rate Reconciliation, Amount [Abstract]
U.S. federal statutory income tax rate, Amount	$ (6,749)	$ (7,463)
Cross-border tax laws
Changes in tax laws or rates enacted in the current period, Amount		(2,329)
Change in valuation allowance, Amount		(3,619)
State income taxes, net of federal effect	0
Statutory tax rate difference, Amount		1,936
Tax credits claimed, Amount		(630)
Others, Amount		257
TPECs, hybrid and other interest, Amount		1,262
Permanent foreign currency gain (loss), Amount		(1,113)
Intercompany debt restructuring, Amount		3,125
Withholding tax, Amount		(172)
Income tax expense (benefit)	(17,889)	(8,199)
Changes in unrecognized tax benefits, Amount	0
Derivative assets/liabilities adjustment, Amount		(6)
Equity-based compensation, Amount		(61)
Penalty, Amount		77
Subpart F income, Amount		624
Other permanent differences, Amount		(145)
Uncertain tax positions liability, Amount		(3)
Change in net operating loss carry-forwards, Amount		19
Foreign local taxes, Amount		42
Income tax benefit, Amount	$ (17,889)	$ (8,199)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate, Percentage	21.00%
Cross-border tax laws, Percentage [Abstract]
State income taxes, net of federal effect, Percentage	0.00%
Effective income tax rate, Percentage	55.66%
Changes in unrecognized tax benefits, Percentage	0.00%
Income tax benefit, Percent	55.66%
Domestic Federal [Member]
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Tax credits, Amount	$ 0
Non-taxable and non-deductible items
Permanent foreign currency gain (loss), Amount	(3,619)
Others	(62)
Cross-border tax laws
Subpart F income, Amount	98
Changes in tax laws or rates enacted in the current period, Amount	0
Change in valuation allowance, Amount	$ 1,279
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax credits, Percentage	0.00%
Non-taxable and non-deductible items, Percentage [Abstract]
Permanent foreign currency gain (loss), Percentage	11.26%
Others	0.19%
Cross-border tax laws, Percentage [Abstract]
Subpart F income, Percentage	(0.31%)
Changes in tax laws or rates enacted in the current period, Percentage	0.00%
Change in valuation allowance, Percentage	(3.98%)
Foreign Tax Effect [Member] \| Korea [Member]
Cross-border tax laws
Statutory tax rate difference, Amount	$ (8,499)
Enacted changes in tax laws or rates, Amount	(3,912)
Tax credits claimed, Amount	(743)
R&D credit refund, Amount	(1,637)
Others, Amount	$ 253
Cross-border tax laws, Percentage [Abstract]
Statutory tax rate difference, Percentage	26.45%
Enacted changes in tax laws or rates, Percentage	12.17%
Tax credits claimed, Percentage	2.31%
R&D credit refund, Percentage	5.09%
Others, Percentage	(0.78%)
Foreign Tax Effect [Member] \| Netherlands [Member]
Cross-border tax laws
Change in valuation allowance, Amount	$ 7,819
Statutory tax rate difference, Amount	(694)
Others, Amount	320
TPECs, hybrid and other interest, Amount	(2,458)
Permanent foreign currency gain (loss), Amount	6,317
Intercompany debt restructuring, Amount	0
Outside basis difference, Amount	(4,408)
Withholding tax, Amount	$ (1,372)
Cross-border tax laws, Percentage [Abstract]
Change in valuation allowance, Percentage	(24.33%)
Statutory tax rate difference, Percentage	2.16%
Others, Percentage	(1.00%)
TPECs, hybrid and other interest, Percentage	7.65%
Permanent foreign currency gain (loss), Percentage	(19.65%)
Intercompany debt restructuring, Percentage	(0.00%)
Outside basis difference, Percentage	13.72%
Withholding tax, Percentage	4.27%
Foreign Tax Effect [Member] \| Luxembourg [Member]
Cross-border tax laws
Change in valuation allowance, Amount	$ 2,231
Others, Amount	(267)
TPECs, hybrid and other interest, Amount	986
Permanent foreign currency gain (loss), Amount	$ (2,710)
Cross-border tax laws, Percentage [Abstract]
Change in valuation allowance, Percentage	(6.94%)
Others, Percentage	0.83%
TPECs, hybrid and other interest, Percentage	(3.06%)
Permanent foreign currency gain (loss), Percentage	8.43%
Other Foreign Jurisdictions [Member]
Cross-border tax laws
Income tax expense (benefit)	$ (62)
Income tax benefit, Amount	$ (62)
Cross-border tax laws, Percentage [Abstract]
Effective income tax rate, Percentage	0.18%
Income tax benefit, Percent	0.18%

Accrued Expenses

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Accrued Expenses

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


	December 31,
	2025		2024
Payroll, benefits and related taxes, excluding severance benefits	$	4,999	$	5,518
Withholding tax attributable to intercompany interest income		7		1,419
Outside service fees		841		1,221
Others		1,082		490
Accrued expenses	$	6,929	$	8,648

Loss Per Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Loss Per Share

20.

Loss Per Share

The following table illustrates the computation of basic and diluted loss per common share for the years ended December 31, 2025 and 2024:


	Year Ended December 31,
	2025			2024
	(In thousands of U.S. dollars, except share data)
Basic loss per common share
Loss from continuing operations	$	(14,249	)	$	(27,310	)
Loss from discontinued operations, net of tax		(15,475	)		(26,998	)
Net loss	$	(29,724	)	$	(54,308	)
Basic weighted average common stock outstanding		36,218,138			37,774,280
Basic loss per common share
Continuing operations	$	(0.39	)	$	(0.72	)
Discontinued operations	$	(0.43	)	$	(0.72	)
Total	$	(0.82	)	$	(1.44	)
Diluted loss per common share
Loss from continuing operations	$	(14,249	)	$	(27,310	)
Loss from discontinued operations, net of tax		(15,475	)		(26,998	)
Net loss	$	(29,724	)	$	(54,308	)
Basic weighted average common stock outstanding		36,218,138			37,774,280
Net effect of dilutive equity awards		—			—
Diluted weighted average common stock outstanding		36,218,138			37,774,280
Diluted loss per common share
Continuing operations	$	(0.39	)	$	(0.72	)
Discontinued operations	$	(0.43	)	$	(0.72	)
Total	$	(0.82	)	$	(1.44	)

Diluted earnings (loss) per share adjusts basic earnings (loss) per share for the potentially dilutive impact of stock options and restricted stock units. As the Company has reported loss for the years ended December 31, 2025 and 2024, all potentially dilutive securities are antidilutive and accordingly not considered, therefore basic net loss per share equals diluted net loss per share.

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


	Year Ended December 31,
	2025		2024
Options		402,627		728,792
Restricted Stock Units		1,653,097		1,953,742

Income Taxes - Summary of Valuation Allowance Primarily Attributable to Its Subsidiary (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
NOL carry-forwards	$ 544,010	$ 418,102

Business, Basis of Presentation and Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Business, Basis of Presentation and Significant Accounting Policies

Business

Basis of Presentation

Principles of Consolidation

The consolidated financial statements include the accounts of the Company including its wholly-owned subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Use of Estimates

Discontinued Operations

Foreign Currency Translation

Cash and Cash Equivalents

Accounts Receivable Reserves

Sales of Accounts Receivable

Inventories

Advances to Suppliers

Property, Plant and Equipment


Buildings		30 – 40 years
Building related structures		10 – 20 years
Machinery and equipment		10 – 12 years
Others		3 – 10 years

Routine maintenance and repairs are charged to expense as incurred. Expenditures that enhance the value or significantly extend the useful lives of the related assets are capitalized.

Impairment of Long-Lived Assets

Leases

Intangible Assets

Fair Value Disclosures of Financial Instruments

Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

Accrued Severance Benefits

Revenue Recognition

Advertising

The Company expenses advertising costs as incurred. Advertising expenses were $34 thousand and $27 thousand for the years ended December 31, 2025 and 2024, respectively.

Product Warranties

Derivative Financial Instruments

The cash flows from derivative instruments receiving hedge accounting treatment are classified in the same categories as the hedged items in the consolidated statements of cash flows.

Research and Development

Research and development expenses are expensed as incurred and include wafers, masks, employee expenses, contractor fees, building costs, utilities and administrative expenses.

Licensed Patents and Technologies

Running royalties are paid based on the revenue of related products sold by the Company.

Stock-Based Compensation

Earnings (Loss) Per Share

Income Taxes

Concentration of Credit Risk

Recently Adopted Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2030	Dec. 31, 2029	Dec. 31, 2028	Dec. 31, 2027	Dec. 31, 2026	Dec. 31, 2025	Dec. 31, 2024
Indefinite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets						$ 248	$ 305
Forecast [Member]
Indefinite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	$ 16	$ 32	$ 56	$ 86	$ 148

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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+ Details

- 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.

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-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

+ Details

Equity Incentive Plans (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized	13,342,919
Number of shares reserved for future issuance	1,748,942
2020 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of addtional shares authorized	1,990,000
Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Allocated share based compensation expense	$ 2,533	$ 5,297
Unrecognized compensation cost related to unvested restricted stock units	$ 2,481
Unrecognized compensation cost, period for recognition	1 year 1 month 6 days
Fair value of restricted stock units vested	$ 2,867	$ 4,603

Long-Term Borrowings - Additional Information (Detail) $ in Thousands			12 Months Ended
	Dec. 31, 2025 KRW (₩)	Mar. 26, 2024 KRW (₩)	Dec. 31, 2025 KRW (₩)	Dec. 31, 2025 USD ($)	Dec. 30, 2025 KRW (₩)	Sep. 26, 2025 KRW (₩)	Jun. 30, 2025 KRW (₩)	Dec. 31, 2024	Dec. 16, 2024 KRW (₩)	Dec. 16, 2024 USD ($)	Mar. 26, 2024 USD ($)
Schedule of Capitalization, Long-Term Debt [Line Items]
Loan, Held-in-Portfolio, Principal Outstanding, Total				$ 27,877
Debt instrument, basis spread on variable rate			3.78%
Foreign currency exchange rate, translation	1,434.9		1,434.9	1,434.9				1,470
Capex Loans [Member]
Schedule of Capitalization, Long-Term Debt [Line Items]
Loan, Held-in-Portfolio, Principal Outstanding, Total				$ 16,722
Debt Instrument, Maturity Date	Jun. 26, 2035
Debt instrument, interest rate, effective percentage	2.91%		2.91%	2.91%
Capex Loans [Member] \| Korea (South), Won
Schedule of Capitalization, Long-Term Debt [Line Items]
Debt instrument, face Amount \| ₩	₩ 23,995,000,000		₩ 23,995,000,000		₩ 9,400,000,000	₩ 5,075,000,000	₩ 9,520,000,000		₩ 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	1,434.9	1,340.7	1,434.9	1,434.9					1,432.7	1,432.7	1,340.7
Debt instrument, face Amount				$ 16,722						$ 26,523	$ 29,835
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

Discontinued Operations - Schedule Of Disposal Group Including Discontinued Operation Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Accounts receivable, net	$ 2,689	$ 4,797
Inventories, net	2,252	3,698
Accrued severance benefits, net	$ 24	$ 4,308

Leases - Components of lease cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease cost	$ 1,781	$ 1,868
Finance lease cost
Amortization of right-of-use assets	144	138
Interest on lease liabilities	26	35
Total lease cost	$ 1,951	$ 2,041

Discontinued Operations - Schedule of Discontinued Operation Income Loss From Discontinued Operation Disclosures (Details) - Korean Subsidiary [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)
Discontinued Operation Income Loss From Discontinued Operation Disclosures [Line Items]
Gross profit	$ 7,383
Operating expenses	774
Sales [Member]
Discontinued Operation Income Loss From Discontinued Operation Disclosures [Line Items]
Net sales	$ 15,705

Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2025	Dec. 31, 2025	Dec. 31, 2024
Discontinued Operation [Line Items]
Amount Paid For Statutory Severance And Other Employee Related Costs	$ 6,506
Discontinued Operations [Member]
Discontinued Operation [Line Items]
Impairment charges		$ 12,424	$ 4,637

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 103,756	$ 138,610
Accounts receivable, net	26,022	28,402
Inventories, net	34,151	30,535
Other receivables	2,882	4,444
Prepaid expenses	5,062	10,379
Hedge collateral (Note 10)	1,200	2,080
Other current assets (Note 1)	3,782	4,779
Total current assets	176,855	219,229
Property, Plant and Equipment, Net	100,204	81,463
Operating lease right-of-use assets	2,070	3,107
Intangible assets, net	454	507
Long-term prepaid expenses, net	584	165
Deferred income taxes (Note 17)	64,248	52,889
Other non-current assets	7,114	21,956
Total assets	351,529	379,316
Current liabilities
Accounts payable	20,848	21,642
Other accounts payable	11,444	10,764
Accrued expenses	6,929	8,648
Accrued income taxes	81	56
Operating lease liabilities	1,427	1,393
Other current liabilities (Note 1)	2,681	3,765
Total current liabilities	43,410	46,268
Long-term borrowings	44,599	27,211
Accrued severance benefits, net	11,502	17,094
Non-current operating lease liabilities	690	1,823
Other non-current liabilities	3,078	10,123
Total liabilities	103,279	102,519
Commitments and contingencies
Stockholders' equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 58,027,696 shares issued and 36,219,100 outstanding at December 31, 2025 and 57,498,507 shares issued and 36,912,118 outstanding at December 31, 2024	579	574
Additional paid-in capital	281,537	279,423
Retained Earnings (Accumulated Deficit)	214,852	244,576
Treasury stock, 21,808,596 shares at December 31, 2025 and 20,586,389 shares atDecember 31, 2024, respectively	(229,910)	(225,883)
Accumulated other comprehensive loss	(18,808)	(21,893)
Total stockholders' equity	248,250	276,797
Total liabilities and stockholders' equity	$ 351,529	$ 379,316

Accounts Receivable - Schedule of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Beginning balance	$ (68)	$ (78)
Provision		(4)
Write off		4
Translation adjustments	(2)	10
Ending balance	$ (70)	$ (68)

Leases - Aggregate future lease payment (Detail) $ in Thousands	Dec. 31, 2025 USD ($)
Leases [Abstract]
Operating Leases, 2026	$ 1,520
Operating Leases, 2027	701
Operating Leases, 2028	9
Operating Leases, 2029	0
Operating Leases, Total future lease payments	2,230
Less: Imported interest	(113)
Present value of future payments	2,117
Finance Leases [Abstract]
Finance Leases, 2026	144
Finance Leases, 2027	110
Finance Leases, 2028	22
Finance Leases, 2029	2
Finance Leases, Total future lease payments	278
Less: Present value adjustment	$ (20)
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Present value of future payments	$ 258

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenues:
Net sales	$ 178,860	$ 196,425
Cost of sales:
Cost of sales	147,467	157,698
Gross profit	31,393	38,727
Operating expenses:
Selling, general and administrative expenses	35,116	38,099
Research and development expenses	27,297	25,012
Early termination and other charges	4,840	1,589
Total operating expenses	67,253	64,700
Operating loss:	(35,860)	(25,973)
Interest income	5,363	8,320
Interest expense	(1,658)	(1,601)
Foreign currency loss, net	(281)	(16,740)
Other income, net	298	485
Loss from continuing operations before income tax benefit, net	(32,138)	(35,509)
Income tax benefit, net	(17,889)	(8,199)
Loss from continuing operations	(14,249)	(27,310)
Loss from discontinued operations, net of tax	(15,475)	(26,998)
Net loss	$ (29,724)	$ (54,308)
Basic loss per common share-
Basic	$ (0.82)	$ (1.44)
Continuing operations	(0.39)	(0.72)
Discontinued operations	(0.43)	(0.72)
Diluted loss per common share-
Diluted	(0.82)	(1.44)
Continuing operations	(0.39)	(0.72)
Discontinued operations	$ (0.43)	$ (0.72)
Weighted average number of shares—
Basic	36,218,138	37,774,280
Diluted	36,218,138	37,774,280
Power Solutions Business [Member]
Revenues:
Net sales	$ 178,860	$ 185,828
Cost of sales:
Cost of sales	147,467	145,884
Fab 3 Foundry Services [Member]
Revenues:
Net sales	0	10,597
Cost of sales:
Cost of sales	$ 0	11,814
Gross profit		$ (1,217)

Accounts Receivable

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Accounts Receivable

Accounts receivable as of December 31, 2025 and 2024 consisted of the following (in thousands):


	December 31,
	2025			2024
Accounts receivable	$	26,327		$	28,818
Notes receivable		56			77
Less:
Allowance for credit losses		(70	)		(68	)
Sales return reserves		(291	)		(425	)
Accounts receivable, net	$	26,022		$	28,402

Changes in allowance for credit losses for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	(68	)	$	(78	)
Provision		—			(4	)
Write off		—			4
Translation adjustments		(2	)		10
Ending balance	$	(70	)	$	(68	)

Changes in sales return reserves for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	(425	)	$	(348	)
Provision		(106	)		(142	)
Usage		247			—
Translation adjustments		(7	)		65
Ending balance	$	(291	)	$	(425	)

Commencing in March 2012, the Company has been a party to an agreement to sell selected trade accounts receivable to a financial institution from time to time. After a sale, the Company does not retain any interest in the receivables and the applicable financial institution collects these accounts receivable directly from the customer. Net proceeds of these accounts receivable sale program are recognized in the consolidated statements of cash flows as part of operating cash flows.

The Company uses receivable discount program with a certain customer. This discount arrangement allows the Company to accelerate collection of customers’ receivables.

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax related to accumulated other comprehensive income (loss)	$ 43	$ 463
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive loss	$ 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

Derivative Financial Instruments - Details of Derivative Contracts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Zero Cost Collar One [Member]
Derivative [Line Items]
Date of transaction	Feb. 03, 2025	Apr. 05, 2024
Type of derivative	Zero cost collar	Zero cost collar
Total notional amount	$ 9,000	$ 9,000
Month of settlement, start	2026-01	2025-01
Month of settlement, end	2026-03	2025-03
Zero Cost Collar Two [Member]
Derivative [Line Items]
Date of transaction	Jul. 10, 2025	Jul. 09, 2024
Type of derivative	Zero cost collar	Zero cost collar
Total notional amount	$ 9,000	$ 18,000
Month of settlement, start	2026-04	2025-04
Month of settlement, end	2026-06	2025-09
Zero Cost Collar Three [Member]
Derivative [Line Items]
Date of transaction	Jul. 17, 2025	Oct. 17, 2024
Type of derivative	Zero cost collar	Zero cost collar
Total notional amount	$ 9,000	$ 9,000
Month of settlement, start	2026-07	2025-10
Month of settlement, end	2026-09	2025-12
Zero Cost Collar Four [Member]
Derivative [Line Items]
Date of transaction	Sep. 30, 2025
Type of derivative	Zero cost collar
Total notional amount	$ 27,000
Month of settlement, start	2026-01
Month of settlement, end	2026-12
Zero Cost Collar Five [Member]
Derivative [Line Items]
Date of transaction	Nov. 07, 2025
Type of derivative	Zero cost collar
Total notional amount	$ 42,000
Month of settlement, start	2026-04
Month of settlement, end	2027-06

Accrued Severance Benefits - Changes in Accrued Severance Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Postemployment Benefits [Abstract]
Beginning balance	$ 45,594	$ 45,932
Provisions	3,639	8,020
Severance payments	(13,567)	(2,407)
Translation adjustments	1,394	(5,951)
Ending balance	37,060	45,594
Less: Cumulative contributions to severance insurance deposit accounts	(25,542)	(28,476)
The National Pension Fund	(16)	(24)
Accrued severance benefits, net	$ 11,502	$ 17,094

Discontinued Operations

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Assets Held for Sale [Abstract]

Discontinued Operations

On March 7, 2025, the Company’s Board of Directors authorized a strategy to transition to a pure-play Power company, focusing future investments on the Power Analog Solutions and Power IC businesses. In connection with this strategy, the Company evaluated various strategic alternatives for its Display business, including a sale, merger, joint venture, licensing, or wind-down; however, the Company was unable to complete a transaction 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 decision 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 Display 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 year ended December 31, 2025 and 2024 (in thousands):


	Year Ended December 31,
	2025			2024
Net sales	$	30,673		$	35,312
Cost of sales		17,444			22,124
Gross profit		13,229			13,188
Operating expenses:
Selling, general and administrative expenses		1,715			8,999
Research and development expenses		9,720			26,182
Early termination charges		1,561			—
Impairment and other charges		12,764			5,065
Total operating expenses		25,760			40,246
Operating loss from discontinued operations		(12,531	)		(27,058	)
Interest income		214			451
Interest expense		(290	)		(368	)
Foreign currency loss, net		(244	)		(159	)
Other income, net		390			—
Loss from discontinued operations before income tax expense (benefit), net		(12,461	)		(27,134	)
Income tax expense (benefit), net		3,014			(136	)
Loss from discontinued operations, net of tax	$	(15,475	)	$	(26,998	)

In accordance with ASC 360-10, the Company evaluates impairment of long-lived assets at the asset group level, which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities.

For the year ended December 31, 2024, the Company performed a recoverability test for the Display business asset group by comparing the carrying amount of the asset group to its estimated future undiscounted pre-tax cash flows over the remaining useful life of the primary long-lived assets. Based on this analysis, the Company concluded that the carrying value of the Display business asset group was not fully recoverable and determined its fair value using the discounted cash flow (“DCF”) method. As a result, the Company recognized an impairment charge of $4,637 thousand, which was included in impairment and other charges in the consolidated statements of operations for the year ended December 31, 2024.

For the year ended December 31, 2025, in connection with the shutdown of the Display business, the Company recognized additional impairment charges of $12,424 thousand, primarily related to certain design tool software contracts. The Display business, for which the impairment charges were recognized in 2024 and 2025, was classified as discontinued operations during the year ended December 31, 2025.

In connection with the liquidation of MMS, the Company paid $6,506 thousand of statutory severance and other employee-related costs in the second quarter of 2025, of which the statutory severance required by law had been previously accrued in our consolidated financial statements.

The following table presents the major classes of assets and liabilities of the discontinued operations that were included in the consolidated balance sheets (in thousands):


	December 31, 2025		December 31, 2024
Accounts receivable, net	$	2,689	$	4,797
Inventories, net		2,252		3,698
Accrued severance benefits, net		24		4,308

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


	Year Ended December 31,
	2025			2024
Significant non-cash operating activities:
Depreciation and amortization	$	381		$	1,723
Provision for severance benefits		(219	)		1,806
Stock-based compensation		(353	)		917
Impairment charges		12,424			4,637
Investing activities:
Capital expenditures	$	(99	)	$	(2,747	)

Although the Company has discontinued our Display business, certain limited activities remain solely for the purpose of completing the orderly wind-down of operations and fulfilling pre-existing customer obligations, including the sale of “end of life” (“EOL”) Display products, which is being conducted by MSK. A small team has been retained exclusively to facilitate these wind-down activities.

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 period presented (in thousands):


	Year Ended December 31, 2025
Net sales	$	15,705
Gross profit		7,383
Operating expenses		774

Income Taxes - Schedule of Changes in Valuation Allowance for Deferred Tax Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Beginning balance	$ 81,653	$ 87,201
Addition	11,708	0
NOL/ tax credit claimed/expired	(5,881)	(38)
Translation adjustments	10,151	(5,510)
Ending balance	$ 97,631	$ 81,653

Accrued Severance Benefits

12 Months Ended

Dec. 31, 2025

Postemployment Benefits [Abstract]

Accrued Severance Benefits

12.

Accrued Severance Benefits

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


	Year Ended December 31,
	2025			2024
Beginning balance	$	45,594		$	45,932
Provisions		3,639			8,020
Severance payments		(13,567	)		(2,407	)
Translation adjustments		1,394			(5,951	)
		37,060			45,594
Less: Cumulative contributions to severance insurance deposit accounts		(25,542	)		(28,476	)
The National Pension Fund		(16	)		(24	)
Accrued severance benefits, net	$	11,502		$	17,094

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	$	96
2027	$	394
2028	$	—
2029	$	1,710
2030	$	2,204
2031 – 2036	$	15,866

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.

Inventories - Changes in Inventory Reserve (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Changes In Inventory Reserve [Abstract]
Beginning balance	$ (7,732)	$ (10,599)
Change in reserve
Inventory reserve charged to costs of sales	(7,827)	(6,979)
Sale of previously reserved inventory	4,956	7,610
Change in reserve	(2,871)	631
Write off	4,029	1,222
Translation adjustments	(260)	1,014
Ending balance	$ (6,834)	$ (7,732)

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

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


	December 31,
	2025			2024
Buildings and related structures	$	24,371		$	21,873
Machinery and equipment		137,024			126,971
Finance lease right-of-use assets		495			606
Others		32,342			33,274
		194,232			182,724
Less: accumulated depreciation		(128,171	)		(115,236	)
Land		11,679			11,237
Construction in progress		22,464			2,738
Property, plant and equipment, net	$	100,204		$	81,463

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 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 year ended December 31, 2025 and 2024 (in thousands):


	Year Ended December 31,
	2025			2024
Net sales	$	30,673		$	35,312
Cost of sales		17,444			22,124
Gross profit		13,229			13,188
Operating expenses:
Selling, general and administrative expenses		1,715			8,999
Research and development expenses		9,720			26,182
Early termination charges		1,561			—
Impairment and other charges		12,764			5,065
Total operating expenses		25,760			40,246
Operating loss from discontinued operations		(12,531	)		(27,058	)
Interest income		214			451
Interest expense		(290	)		(368	)
Foreign currency loss, net		(244	)		(159	)
Other income, net		390			—
Loss from discontinued operations before income tax expense (benefit), net		(12,461	)		(27,134	)
Income tax expense (benefit), net		3,014			(136	)
Loss from discontinued operations, net of tax	$	(15,475	)	$	(26,998	)

Schedule Of Disposal Group Including Discontinued Operation Balance Sheet Disclosures

The following table presents the major classes of assets and liabilities of the discontinued operations that were included in the consolidated balance sheets (in thousands):


	December 31, 2025		December 31, 2024
Accounts receivable, net	$	2,689	$	4,797
Inventories, net		2,252		3,698
Accrued severance benefits, net		24		4,308

Schedule of Cash Flow Information Related to Discontinued Operation

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


	Year Ended December 31,
	2025			2024
Significant non-cash operating activities:
Depreciation and amortization	$	381		$	1,723
Provision for severance benefits		(219	)		1,806
Stock-based compensation		(353	)		917
Impairment charges		12,424			4,637
Investing activities:
Capital expenditures	$	(99	)	$	(2,747	)

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 period presented (in thousands):


	Year Ended December 31, 2025
Net sales	$	15,705
Gross profit		7,383
Operating expenses		774

- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 4: 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

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-Section 50
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-Publisher FASB
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
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-Name Accounting Standards Codification
-Section 50
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-SubTopic 20
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-Paragraph 5C
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-SubTopic 20
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+ Details

Derivative Financial Instruments - Offsetting of Derivative Assets and Liabilities (Detail) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Asset Derivatives:
Gross amounts of recognized assets	$ 3
Gross amounts offset in the balance sheets	0
Net amounts of liabilities presented in the balance sheets	3	$ 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	3
Liability Derivatives:
Gross amounts of recognized liabilities	1,770	1,956
Gross amounts offset in the balance sheets	0	0
Net amounts of liabilities presented in the balance sheets	1,770	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	(1,200)	(1,080)
Net amount	$ 570	$ 876

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 7,542	$ 7,802
Semi-finished goods and work-in-process	29,245	26,797
Raw materials	4,198	3,607
Materials in-transit	0	61
Less: inventory reserve	(6,834)	(7,732)	$ (10,599)
Inventories, net	$ 34,151	$ 30,535

Accrued Severance Benefits - Future Benefits Payments to Employees (Detail) $ in Thousands	Dec. 31, 2025 USD ($)
Postemployment Benefits [Abstract]
2026	$ 96
2027	394
2028	0
2029	1,710
2030	2,204
2031 – 2036	$ 15,866

Cybersecurity Risk Management, Strategy and Governance	12 Months Ended
Cybersecurity Risk Management, Strategy and Governance	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Item 1C. Cybersecurity Cybersecurity Risk Management and Strategy Cybersecurity risks and data protection are key components of our long-term strategy and enterprise risk management program and are integrated into our overall risk management systems and processes. We maintain processes for assessing, identifying and managing material risks from cybersecurity threats, and we routinely invest in the development and implementation of essential cybersecurity systems, infrastructures and processes to protect the security and integrity of our systems, networks, databases and proprietary information. Key areas of our cybersecurity risk management processes and strategy currently include: • Compliance with industry standards and regulatory frameworks: Our information security management system is ISO 27001 certified. In addition, we align our standards to comply with South Korea’s industrial technology protection law (Act on Prevention of Divulgence and Protection of Industrial Technology), which prevents technologies vital to South Korean national security or economic competitiveness from being divulged to or shared with foreign countries or corporations without the government’s approval. • Ongoing Evaluation and Assessment of Systems and Procedure: We monitor compliance with regulatory, industry and evolving data privacy requirements and update our cybersecurity risk management program from time to time as appropriate. We also continuously monitor our information security systems and processes on an ongoing basis to identify and remediate cybersecurity threats and vulnerabilities that could be exploited to adversely impact our business operations. To better preemptively identify risks and vulnerabilities in our security systems, we perform penetration testing for security controls using external third-party tools and encourage vulnerability reporting within our organization. • Cross-Collaboration and Coordination: Cybersecurity risks related to our business, privacy and compliance issues are identified and managed through a multifaceted approach, including third-party monitoring, internal and external IT security audits and reviews by relevant committees. • Third-Party Service Providers: We engage leading third-party product and service providers to assist us with our cybersecurity risk management. We use an Information Prevention and Data Loss Prevention System on networks and endpoints, which is designed to prevent unauthorized access to or transfer of sensitive data. We also use centrally managed antivirus systems for blocking illegal software to detect and remove malware and illegal software from devices in real time. In particular, we use a Managed Security Service provider for Security Information and Event Management services for matters such as firewall management, intrusion detection and prevention, vulnerability management and incident response. • Cyber Incident Response Plan: We maintain a comprehensive cyber incident response plan that sets forth the applicable processes, roles, engagements, escalations and notifications to promptly respond to a cybersecurity incident. This plan covers steps to be taken upon the detection of a cybersecurity incident detection, review by relevant committees, identification of damages, recovery process, post-incident analysis and the introduction of improvement measures. Such incident responses are managed in a timely manner by a dedicated team and overseen by relevant organizations, including IT, finance, legal and compliance. • Security Awareness Training for Personnel: We provide comprehensive employee training on cybersecurity awareness, confidential information protection and simulated phishing attacks. • Review of Third-Party Risks: We routinely conduct risk and compliance assessments of third-party service providers prior to exchanging any sensitive data or integrating with any key third-party provider. As of December 31, 2025, we have not identified any risks from cybersecurity threats, including any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect the Company, our business strategy, our results of operations or our financial condition. For a discussion of risks from cybersecurity threats (including any previous cybersecurity incidents) that could be reasonably likely to materially affect us, please refer to our Risk Factors discussion under the heading ‘We may be subject to disruptions, breaches or cyber-attacks of our secured networks and information technology systems that could damage our reputation, harm our business, expose us to liability and materially adversely affect our results of operations’ in Item 1A of this Annual Report on Form 10-K. Cybersecurity Governance In line with our overall risk management governance structure, management is responsible for the day-to-day management of cybersecurity risks while the Company’s Board of Directors and its Audit Committee actively and continuously provide oversight. Our Audit Committee oversees the Company’s management of key risks including those arising from cybersecurity threats. Our management team reports to the Audit Committee on a quarterly basis, presenting their assessment of key enterprise risks, including cybersecurity. The topics include trends in cyber threats and the initiatives designed to strengthen our security systems and enhance the cyber readiness of our organization. Additionally, our management team and our Chief Information Security Officer (“CISO”) provides periodic updates to the members of the Audit Committee and the Board of Directors on existing and new cybersecurity risks, status of risk mitigation efforts, cybersecurity incidents, if any, and the progress of key information security initiatives. We established the Information Security Steering Committee (the “IS Steering Committee”) in 2020 as a management-led, cross-functional committee currently comprised of our Chief Executive Officer, Chief Financial Officer, CISO/Chief Privacy Officer and relevant teams including Information Security, HR, Compliance & Internal Audit and Legal. The IS Steering Committee holds quarterly meetings, during which they review and take action on a wide range of topics, including cybersecurity threat matters such as prevention monitoring, detection mitigation and remediation of cybersecurity incidents. Our CISO leads a dedicated Information Security team in charge of cybersecurity matters. The Information Security team consists of four professionals with a combined 39 years of relevant experience across information technology, information security, compliance and systems, and each of whom have completed one or more cybersecurity certifications relevant to their particular functions and professional certifications issued in Korea. The Information Security team oversees compliance with our cybersecurity framework, facilitates cybersecurity risk management activities, assists with the review and approval of policies, and oversees the security awareness program. Our Information Security team and CISO also reports to the IS Steering Committee on a quarterly basis. We also invest in ongoing cybersecurity training for our Information Security team.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity risks and data protection are key components of our long-term strategy and enterprise risk management program and are integrated into our overall risk management systems and processes.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	In line with our overall risk management governance structure, management is responsible for the day-to-day management of cybersecurity risks while the Company’s Board of Directors and its Audit Committee actively and continuously provide oversight. Our Audit Committee oversees the Company’s management of key risks including those arising from cybersecurity threats. Our management team reports to the Audit Committee on a quarterly basis, presenting their assessment of key enterprise risks, including cybersecurity. The topics include trends in cyber threats and the initiatives designed to strengthen our security systems and enhance the cyber readiness of our organization. Additionally, our management team and our Chief Information Security Officer (“CISO”) provides periodic updates to the members of the Audit Committee and the Board of Directors on existing and new cybersecurity risks, status of risk mitigation efforts, cybersecurity incidents, if any, and the progress of key information security initiatives. We established the Information Security Steering Committee (the “IS Steering Committee”) in 2020 as a management-led, cross-functional committee currently comprised of our Chief Executive Officer, Chief Financial Officer, CISO/Chief Privacy Officer and relevant teams including Information Security, HR, Compliance & Internal Audit and Legal. The IS Steering Committee holds quarterly meetings, during which they review and take action on a wide range of topics, including cybersecurity threat matters such as prevention monitoring, detection mitigation and remediation of cybersecurity incidents. Our CISO leads a dedicated Information Security team in charge of cybersecurity matters. The Information Security team consists of four professionals with a combined 39 years of relevant experience across information technology, information security, compliance and systems, and each of whom have completed one or more cybersecurity certifications relevant to their particular functions and professional certifications issued in Korea. The Information Security team oversees compliance with our cybersecurity framework, facilitates cybersecurity risk management activities, assists with the review and approval of policies, and oversees the security awareness program. Our Information Security team and CISO also reports to the IS Steering Committee on a quarterly basis. We also invest in ongoing cybersecurity training for our Information Security team.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	In line with our overall risk management governance structure, management is responsible for the day-to-day management of cybersecurity risks while the Company’s Board of Directors and its Audit Committee actively and continuously provide oversight. Our Audit Committee oversees the Company’s management of key risks including those arising from cybersecurity threats. Our management team reports to the Audit Committee on a quarterly basis, presenting their assessment of key enterprise risks, including cybersecurity. The topics include trends in cyber threats and the initiatives designed to strengthen our security systems and enhance the cyber readiness of our organization. Additionally, our management team and our Chief Information Security Officer (“CISO”) provides periodic updates to the members of the Audit Committee and the Board of Directors on existing and new cybersecurity risks, status of risk mitigation efforts, cybersecurity incidents, if any, and the progress of key information security initiatives.
Cybersecurity Risk Role of Management [Text Block]	Our Audit Committee oversees the Company’s management of key risks including those arising from cybersecurity threats. Our management team reports to the Audit Committee on a quarterly basis, presenting their assessment of key enterprise risks, including cybersecurity. The topics include trends in cyber threats and the initiatives designed to strengthen our security systems and enhance the cyber readiness of our organization. Additionally, our management team and our Chief Information Security Officer (“CISO”) provides periodic updates to the members of the Audit Committee and the Board of Directors on existing and new cybersecurity risks, status of risk mitigation efforts, cybersecurity incidents, if any, and the progress of key information security initiatives. We established the Information Security Steering Committee (the “IS Steering Committee”) in 2020 as a management-led, cross-functional committee currently comprised of our Chief Executive Officer, Chief Financial Officer, CISO/Chief Privacy Officer and relevant teams including Information Security, HR, Compliance & Internal Audit and Legal. The IS Steering Committee holds quarterly meetings, during which they review and take action on a wide range of topics, including cybersecurity threat matters such as prevention monitoring, detection mitigation and remediation of cybersecurity incidents. Our CISO leads a dedicated Information Security team in charge of cybersecurity matters. The Information Security team consists of four professionals with a combined 39 years of relevant experience across information technology, information security, compliance and systems, and each of whom have completed one or more cybersecurity certifications relevant to their particular functions and professional certifications issued in Korea. The Information Security team oversees compliance with our cybersecurity framework, facilitates cybersecurity risk management activities, assists with the review and approval of policies, and oversees the security awareness program. Our Information Security team and CISO also reports to the IS Steering Committee on a quarterly basis. We also invest in ongoing cybersecurity training for our Information Security team.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	We established the Information Security Steering Committee (the “IS Steering Committee”) in 2020 as a management-led, cross-functional committee currently comprised of our Chief Executive Officer, Chief Financial Officer, CISO/Chief Privacy Officer and relevant teams including Information Security, HR, Compliance & Internal Audit and Legal. The IS Steering Committee holds quarterly meetings, during which they review and take action on a wide range of topics, including cybersecurity threat matters such as prevention monitoring, detection mitigation and remediation of cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash flows from operating activities
Net loss	$ (29,724)	$ (54,308)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	12,961	16,161
Provision for severance benefits	3,639	8,020
Loss (gain) on foreign currency, net	(847)	32,851
Provision (reversal) for inventory reserves	2,871	(529)
Stock-based compensation	2,180	6,214
Impairment charges	12,424	4,637
Deferred income taxes	(10,120)	(7,034)
Others, net	325	799
Changes in operating assets and liabilities
Accounts receivable, net	(2,990)	2,719
Inventories	(5,803)	(1,583)
Other receivables	(210)	(115)
Prepaid expenses	6,981	8,877
Other current assets	2,915	1,753
Accounts payable	4,248	(1,971)
Other accounts payable	(8,993)	(14,160)
Accrued expenses	(2,662)	(607)
Accrued income taxes	23	(1,432)
Deferred revenue	(494)	(305)
Other current liabilities	(345)	(856)
Other non-current liabilities	(185)	(335)
Contributions to severance insurance deposit accounts	3,785	(2,383)
Payment of severance benefits	(13,567)	(2,407)
Others, net	(620)	(139)
Net cash used in operating activities	(24,208)	(6,133)
Cash flows from investing activities
Proceeds from settlement of hedge collateral	4,159	627
Payment of hedge collateral	(3,159)	(1,706)
Proceeds from disposal of plant, property and equipment	565	0
Purchase of property, plant and equipment	(29,992)	(11,600)
Payment for intellectual property registration	(207)	(316)
Collection of guarantee deposits	4,380	3,535
Payment of guarantee deposits	(355)	(2,175)
Collection of short-term financial instruments	0	30,000
Purchase of short-term financial instruments	0	(30,000)
Others, net	180	(37)
Net cash used in investing activities	(24,429)	(11,672)
Cash flows from financing activities
Proceeds from long-term borrowings	17,016	30,059
Acquisition of treasury stock	(4,381)	(12,891)
Repayment of financing related to water treatment facility arrangement	(452)	(472)
Repayment of principal portion of finance lease liabilities	(161)	(139)
Net cash provided by financing activities	12,022	16,557
Effect of exchange rates on cash and cash equivalents	1,761	(18,234)
Net decrease in cash and cash equivalents	(34,854)	(19,482)
Cash and cash equivalents at beginning of period	138,610	158,092
Cash and cash equivalents at end of period	103,756	138,610
Supplemental cash flow information
Cash paid for interest on long-term borrowings	1,253	966
Cash paid for income taxes, net	1,926	1,339
Non-cash investing and financing activities
Property, plant and equipment additions in other accounts payable	2,407	369
Acquisition of treasury stock to satisfy the tax withholding obligations in connection with equity-based compensation	$ 217	$ 451

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ (17,889,000)	$ (8,199,000)
Deferred tax assets, valuation allowance amount	97,631,000	81,653,000	$ 87,201,000
Net operating loss carry-forwards	544,010,000	418,102,000
Net operating loss utilized	0	402,000
Unrecognized tax benefits	276,000	253,000	$ 274,000
Accrued Interest and Penalities	$ 0	0
Net operating loss carry-forwards, expiration period	indefinite period of time
Dutch Statutory Tax Rate [Member]
Income Tax Contingency [Line Items]
Tax credit carry-forwards	$ 14,696,000
Tax Period Two Thousand Thirty Seven [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards retained by Us parent and its domestic subsidiary	55,686,000
Luxembourg Subsidiary [Member]
Income Tax Contingency [Line Items]
Net operating loss utilized	300,051,000
Dutch Subsidiary [Member]
Income Tax Contingency [Line Items]
Permanent tax expense	6,317,000
Korean Subsidiary [Member]
Income Tax Contingency [Line Items]
Permanent income tax benefit	$ 8,499,000
Income tax expense (benefit)		3,125,000
Reversal of tax withholding		$ 172,000
Net operating loss expiration date	2042
Korean Subsidiary [Member] \| Tax Period Two Thousand and Thirty Four Through Two Thousand and Forty Two [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	$ 300,051,000
Korean Subsidiary [Member] \| Tax Period Two Thousand and Thirty Four Through Two Thousand and Forty Two [Member] \| Operating Loss Carried Forward Indefinitely [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	290,352,000
Korean Subsidiary [Member] \| Tax Period Two Thousand and Thirty Four Through Two Thousand and Forty Two [Member] \| Operating Loss Carry Forwards Expires [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	9,699,000
Korean Subsidiary [Member] \| Tax Period Two Thousand Thirty Eight [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	185,997,000
Korean Subsidiary [Member] \| Tax Period Two Thousand Thirty Eight [Member] \| Operating Loss Carry Forwards Expires [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	60,274,000
Korean Subsidiary [Member] \| Tax Period Two Thousand Thirty Nine [Member] \| Operating Loss Carry Forwards Expires [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	15,781,000
Korean Subsidiary [Member] \| Tax Period Two Thousand Forty [Member] \| Operating Loss Carry Forwards Expires [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	109,942,000
Parent [Member] \| Tax Period Two Thousand Thirty Seven [Member] \| Operating Loss Carried Forward Indefinitely [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	5,309,000
Parent [Member] \| Tax Period Two Thousand Thirty Seven [Member] \| Operating Loss Carry Forwards Expires [Member]
Income Tax Contingency [Line Items]
Net operating loss carry-forwards	$ 50,377,000

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	6,214		6,214
Settlement of restricted stock units	(42)	$ 5	(47)
Settlement of restricted stock units, Shares		527,113
Acquisition of treasury stock	(12,429)				(12,429)
Acquisition of treasury stock, Shares		(2,467,737)
Other comprehensive income (loss), net	(7,236)					(7,236)
Net loss	(54,308)			(54,308)
Balance ending at Dec. 31, 2024	$ 276,797	$ 574	279,423	244,576	(225,883)	(21,893)
Balance, Shares ending at Dec. 31, 2024	36,912,118	36,912,118
Stock-based compensation	$ 2,180		2,180
Settlement of restricted stock units	(61)	$ 5	(66)
Settlement of restricted stock units, Shares		529,189
Acquisition of treasury stock	(4,027)				(4,027)
Acquisition of treasury stock, Shares		(1,222,207)
Other comprehensive income (loss), net	3,085					3,085
Net loss	(29,724)			(29,724)
Balance ending at Dec. 31, 2025	$ 248,250	$ 579	$ 281,537	$ 214,852	$ (229,910)	$ (18,808)
Balance, Shares ending at Dec. 31, 2025	36,219,100	36,219,100

- 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

Accrued Expenses - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Other Accrued Liabilities [Line Items]
Accrued expenses	$ 6,929	$ 8,648

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 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	58,027,696	57,498,507
Common stock, shares outstanding	36,219,100	36,912,118
Treasury stock, shares	21,808,596	20,586,389

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Accumulated Other Comprehensive Loss

19.

Accumulated Other Comprehensive Loss

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


	Year Ended December 31,
	2025			2024
Foreign currency translation adjustments	$	(18,093	)	$	(20,927	)
Derivative adjustments		(715	)		(966	)
Total	$	(18,808	)	$	(21,893	)

Changes in accumulated other comprehensive loss for the years ended December 31, 2025 and 2024 are as follows (in thousands):


Year Ended December 31, 2025	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,927	)	$	(966	)	$	(21,893	)
Other comprehensive income (loss) before reclassifications		2,219			(791	)		1,428
Amounts reclassified from accumulated other comprehensive loss		615			1,042			1,657
Net current-period other comprehensive income		2,834			251			3,085
Ending balance	$	(18,093	)	$	(715	)	$	(18,808	)


Year Ended December 31, 2024	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(15,348	)	$	691		$	(14,657	)
Other comprehensive loss before reclassifications		(5,579	)		(2,525	)		(8,104	)
Amounts reclassified from accumulated other comprehensive loss		—			868			868
Net current-period other comprehensive loss		(5,579	)		(1,657	)		(7,236	)
Ending balance	$	(20,927	)	$	(966	)	$	(21,893	)

During the year ended December 31, 2025, the Company reclassified a $615 thousand of cumulative translation adjustment from accumulated other comprehensive loss into loss in connection with the liquidation of MMS, the Company’s indirect wholly owned foreign subsidiary.

There was an income tax expense of $43 thousand related to changes in accumulated other comprehensive loss for the year ended December 31, 2025. There was an income tax benefit of $463 thousand related to changes in accumulated other comprehensive loss for the year ended December 31, 2024.

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

17.

Income Taxes

The Company’s income tax expense (benefit) is composed of domestic and foreign income taxes depending on the relevant tax jurisdictions. Domestic income (loss) before income tax expense (benefit) is generated or incurred in the United States, where the parent company resides.

The components of income tax expense (benefit) are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Income (loss) before income tax expense (benefit)
Domestic	$	14,941		$	(10,955	)
Foreign		(47,079	)		(24,554	)
		(32,138	)		(35,509	)
Current income tax expense (benefit)
Domestic		(0	)		—
Foreign		(2,740	)		184
Uncertain tax position liability (foreign)		10			(3	)
		(2,730	)		181
Deferred income tax expense (benefit)
Domestic		834			(1,340	)
Foreign		(15,993	)		(7,040	)
		(15,159	)		(8,380	)
Total income tax benefit	$	(17,889	)	$	(8,199	)


	Year Ended December 31, 2025
	Amount			Percent
U.S. federal statutory income tax rate	$	(6,749	)		21.0	%
Domestic federal
Tax credits		—			—
Non-taxable and non-deductible items
Permanent foreign currency gain (loss)		(3,619	)		11.26
Others		(62	)		0.19
Cross-border tax laws
Subpart F income		98			(0.31	)
Changes in tax laws or rates enacted in the current period		—			—
Change in valuation allowance		1,279			(3.98	)
State income taxes, net of federal effect		—			—
Foreign tax effect
Korea
Statutory tax rate difference between Korea and United States		(8,499	)		26.45
Enacted changes in tax laws or rates		(3,912	)		12.17
Tax credits claimed		(743	)		2.31
R&D credit refund		(1,637	)		5.09
Others		253			(0.78	)
Netherlands
Statutory tax rate difference between Netherlands and United States		(694	)		2.16
TPECs, hybrid and other interest		(2,458	)		7.65
Permanent foreign currency gain (loss)		6,317			(19.65	)
Change in valuation allowance		7,819			(24.33	)
Intercompany debt restructuring		—			—
Outside basis difference		(4,408	)		13.72
Withholding tax		(1,372	)		4.27
Others		320			(1.00	)
Luxembourg
Permanent foreign currency gain (loss)		(2,710	)		8.43
Change in valuation allowance		2,231			(6.94	)
TPECs, hybrid and other interest		986			(3.06	)
Others		(267	)		0.83
Other foreign jurisdictions		(62	)		0.18
Changes in unrecognized tax benefits		—			—
Income tax benefit	$	(17,889	)		55.66	%


	Year Ended December 31, 2024
Provision computed at statutory rates	$	(7,463	)
Change in statutory tax rates		(2,329	)
Difference in foreign tax rates		1,936
Permanent differences
Derivative assets/liabilities adjustment		(6	)
TPECs, hybrid and other interest		1,262
Equity-based compensation		(61	)
Permanent foreign currency loss		(1,113	)
Penalty		77
Subpart F income		624
Intercompany debt restructuring		3,125
Other permanent differences		(145	)
Withholding tax		(172	)
Change in valuation allowance		(3,619	)
Tax credits claimed		(630	)
Uncertain tax positions liability		(3	)
Change in net operating loss carry-forwards		19
Foreign local taxes		42
Others		257
Income tax benefit	$	(8,199	)

For the year ended December 31, 2025, the Korean permanent tax benefit of $8,499 thousand was related to the difference in statutory tax rates between Korea and the United States. The Dutch permanent tax expense of $6,317 thousand pertained to a foreign currency gain primarily derived from the unrealized foreign translation gain related to the intercompany loan granted to the Dutch subsidiary by the U.S. parent company.

For the year ended December 31, 2024, the permanent tax expense of $3,125 thousand related to intercompany debt restructuring recorded for the year ended December 31, 2024 was derived from the waiver and release of unpaid interests of the intercompany loans granted to the Company’s Korean subsidiary by the Dutch subsidiary. In connection with the waiver of unpaid interests, the related withholding tax was reversed, resulting in the recognition of income tax benefit of $172 thousand.

A summary of the composition of net deferred income tax assets (liabilities) as of December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Deferred tax assets
Inventory reserves	$	1,509		$	1,090
Accrued expenses		1,069			1,202
Property, plant and equipment		2,191			2,593
Accumulated severance benefits		8,128			8,024
Operating lease right-of-use liabilities		460			740
Foreign currency translation loss		362			24,271
NOL carry-forwards		126,147			96,358
Tax credit carry-forwards		16,379			15,149
Other long-term payable		851			2,205
Interest expense deduction limitation		—			3,150
Derivative liabilities		401			434
Outside basis difference		10,530			—
Others		2,826			8,905
Total deferred tax assets		170,853			164,121
Less: Valuation allowance		(97,631	)		(81,653	)
		73,222			82,468
Deferred tax liabilities
Prepaid expense		577			1,741
Severance benefit deposits		5,406			5,274
Operating lease right-of-use assets		444			715
Foreign currency translation gain		2,435			13,090
Others		151			8,870
Total deferred tax liabilities		9,013			29,690
Net deferred tax assets	$	64,209		$	52,778

The Company has not recognized a deferred tax liability related to outside basis differences inherent in its foreign subsidiaries because the investments in those foreign subsidiaries within the group are essentially permanent in duration or earnings in foreign subsidiaries are intended to be indefinitely reinvested. It is not practicable to estimate the amount of deferred income taxes not recorded that are associated with those outside basis differences. If circumstances change and it becomes apparent that the undistributed earnings from foreign subsidiaries will be remitted or the parent entity will dispose of its interest in the subsidiaries in the foreseeable future, and related income taxes have not been recognized by the parent entity, the parent entity will accrue as an expense of the current period income taxes attributable to that remittance or disposition.

Changes in valuation allowance for deferred tax assets for the years ended December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025			2024
Beginning balance	$	81,653		$	87,201
Addition		11,708			—
NOL/ tax credit claimed/expired		(5,881	)		(38	)
Translation adjustments		10,151			(5,510	)
Ending balance	$	97,631		$	81,653

As of December 31, 2025 and 2024, respectively, the Company recorded a valuation allowance of $97,631 thousand and $81,653 thousand on its deferred tax assets related to temporary differences, net operating loss carry-forwards and tax credits of domestic and foreign subsidiaries.

The Company has recorded a full valuation allowance against certain foreign subsidiaries’ deferred tax assets pertaining to its related tax loss carry-forwards that are not anticipated to generate a tax benefit. The valuation allowances at December 31, 2025 and 2024 were primarily attributable to its Luxembourg subsidiary.

The net operating loss carry-forwards balance as of December 31, 2025 and 2024 are as follows (in thousands):


	Year Ended December 31,
	2025		2024
NOL carry-forwards	$	544,010	$	418,102

As of December 31, 2025, the Company had $544,010 thousand of net operating loss carry-forwards available to offset future taxable income, of which $300,051 thousand is associated with the Company’s Luxembourg subsidiary, mainly attributable to certain expenses incurred in connection with its shareholding in the Company’s Dutch subsidiary. Of the $300,051 thousand net operating loss carry-forwards, $290,352 thousand is carried forward indefinitely and the remaining $9,699 thousand expires from 2034 through 2042. The net operating loss carry-forwards retained by the Company’s U.S. parent amounts to $55,686 thousand, $5,309 thousand is carried forward indefinitely and the remaining $50,377 thousand expires at various dates through 2037. The net operating loss carry-forwards retained by the Company’s Korean subsidiary amounts to $185,997 thousand, in which $60,274 expires in 2038, $15,781 expires in 2039, and the remaining $109,942 expires in 2040.

The Company did not utilize net operating loss for the year ended December 31, 2025, but utilized net operating loss of $402 thousand for the year ended December 31, 2024. The Company also has Dutch tax credit carry-forwards of approximately $14,696 thousand as of December 31, 2025. The Dutch tax credits are carried forward to be used for an indefinite period of time.

Uncertainty in Income Taxes

The Company and its subsidiaries file income tax returns in Korea, Japan, Taiwan, and 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.

As of December 31, 2025 and 2024, the Company recorded $276 thousand and $253 thousand of unrecognized tax benefits, respectively.

A tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of each period is as follows (in thousands):


	Year Ended December 31,
	2025			2024
Unrecognized tax benefits, balance at the beginning	$	253		$	274
Additions based on tax positions related to the current year		54			51
Lapse of statute of limitations		(44	)		(54	)
Translation adjustments		13			(18	)
Unrecognized tax benefits, balance at the ending	$	276		$	253

No interest and penalties related to unrecognized tax benefits were recognized as of December 31, 2025 and 2024.

Income Taxes Paid (Net of Refunds) by Jurisdiction

The Company paid income taxes, net of refunds received, by jurisdiction for the year ended December 31, 2025 as follows (in thousands):


	Year Ended December 31, 2025
U.S. federal	$	—
Korea		(2,301	)
Netherlands		268
Japan		103
Others		4
Total	$	(1,926	)

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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+ Details

Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

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


	December 31, 2025
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	7,672	$	(7,218	)	$	454
Intangible assets	$	7,672	$	(7,218	)	$	454


	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 expense associated with continuing operations for intangible assets totaled $248 thousand and $305 thousand for the years ended December 31, 2025 and 2024, respectively.

The aggregate amortization expense associated with continuing operations of intangible assets for the next five years are estimated to be $148 thousand, $86 thousand, $56 thousand, $32 thousand and $16 thousand for the years ended December 31, 2026, 2027, 2028, 2029 and 2030, respectively.

Geographic and Other Information

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Geographic and Other Information

18.

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, other than revenue and gross profit margin.

Revenues for the year ended December 31, 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	$	54,336	$	—	$	19,024	$	35,312	$	54,336
Power Analog Solutions		166,804		166,804		—		—		166,804
	$	221,140	$	166,804	$	19,024	$	35,312	$	221,140


	Year Ended December 31,
	2025		2024
Revenues
Power Solutions business
Power Analog Solutions	$	160,477	$	166,804
Power IC		18,383		19,024
Total Power Solutions business		178,860		185,828
Transitional Fab 3 foundry services		—		10,597
Total revenues	$	178,860	$	196,425


	Year Ended December 31,
	2025		2024
Cost of Sales
Power Solutions business
Power Analog Solutions	$	136,628	$	135,302
Power IC		10,839		10,582
Total Power Solutions business		147,467		145,884
Transitional Fab 3 foundry services		—		11,814
Total cost of sales	$	147,467	$	157,698


	Year Ended December 31,
	2025		2024
Gross Profit
Power Solutions business
Power Analog Solutions	$	23,849	$	31,502
Power IC		7,544		8,442
Total Power Solutions business		31,393		39,944
Transitional Fab 3 foundry services		—		(1,217	)
Total gross profit	$	31,393	$	38,727

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):


	Year Ended December 31,
	2025		2024
Korea	$	88,012	$	79,901
Asia Pacific (other than Korea)		82,022		98,745
United States		4,964		2,120
Europe		3,862		5,062
Total	$	178,860	$	185,828

For the years ended December 31, 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 78.2% and 83.5%, respectively, and net sales— Power Solutions business in Taiwan represented 13.3% and 9.1%, respectively.

Net sales from the Company’s top ten largest customers in the Power Solutions business accounted for 74.3% and 73.4% for the years ended December 31, 2025 and 2024, respectively.

For the year ended December 31, 2025, the Company had one customer that represented 29.7% of its net sales— Power Solutions business, and for the year ended December 31, 2024, the Company had one customer that represented 25.4% of its net sales— Power Solutions business, respectively.

As of December 31, 2025, two customers of the Company’s Power Solutions business accounted for 35.4% and 15.7% of its accounts receivable – Power Solutions business, respectively. 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.

99.8% of the Company’s property, plant and equipment are located in Korea as of December 31, 2025.

- 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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-Topic 280
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+ Details

Income Taxes - Schedule of Reconciliation of Total Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, balance at the beginning	$ 253	$ 274
Additions based on tax positions related to the current year	54	51
Lapse of statute of limitations	(44)	(54)
Translation adjustments	13	(18)
Unrecognized tax benefits, balance at the ending	$ 276	$ 253

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Statement of Comprehensive Income [Abstract]
Net loss	$ (29,724)	$ (54,308)
Other comprehensive loss (Note 19)
Foreign currency translation adjustments	2,834	(5,579)
Derivative adjustments	251	(1,657)
Total other comprehensive income (loss)	3,085	(7,236)
Total comprehensive loss	$ (26,639)	$ (61,544)

- 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

Derivative Financial Instruments - Cash deposits (Detail) - Zero Cost Collar And Forward Contracts [Member] - USD ($) $ in Thousands	Dec. 31, 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

Equity Incentive Plans - Summary of Stock Option Activities (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Outstanding Beginning Balance, Number of Options	728,792
Expired, Number of Options	(274,129)
Forfeited, Number of Options	(52,036)
Outstanding Ending Balance, Number of Options	402,627	728,792
Vested and expected to vest, Number of Options	402,627
Outstanding Beginning Balance, Weighted Average Exercise Price of Stock Options	$ 7.19
Expired, Weighted Average Exercise Price of Stock Options	7.73
Forfeited, Weighted Average Exercise Price of Stock Options	6.53
Outstanding Ending Balance, Weighted Average Exercise Price of Stock Options	6.91	$ 7.19
Vested and Exercisable, Weighted Average Exercise Price of Stock Options	$ 6.91
Outstanding, Weighted Average Remaining Contractual Life of Stock Options	6 months	1 year 1 month 6 days
Vested and expected to vest, Weighted Average Remaining Contractual Life of Stock Options	6 months

Business, Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Estimated Useful Lives of Assets


Buildings		30 – 40 years
Building related structures		10 – 20 years
Machinery and equipment		10 – 12 years
Others		3 – 10 years

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Payables and Accruals [Abstract]
Payroll, benefits and related taxes, excluding severance benefits	$ 4,999	$ 5,518
Withholding tax attributable to intercompany interest income	7	1,419
Outside service fees	841	1,221
Others	1,082	490
Accrued expenses	$ 6,929	$ 8,648

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Carrying Value [Member]
Assets:
Derivative assets	$ 3
Liabilities:
Derivative liabilities, current	1,644	$ 1,956
Derivative liabilities, Non-current	126
Estimate of Fair Value Measurement [Member]
Assets:
Derivative assets	$ 3
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current
Liabilities:
Derivative liabilities, current	$ 1,644	$ 1,956
Derivative liabilities, Non-current	$ 126
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Derivative assets	$ 3
Liabilities:
Derivative liabilities, current	1,644	$ 1,956
Derivative liabilities, Non-current	$ 126

Loss Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Earnings (Loss) Common Share (Detail) - shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 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)	402,627	728,792
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)	1,653,097	1,953,742

Leases - Other lease information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 1,844	$ 1,913
Operating cash flows from finance leases	26	35
Financing cash flows from finance leases	$ 154	$ 140
Weighted average remaining lease term
Operating leases	1 year 6 months	2 years 6 months
Finance leases	2 years 1 month 6 days	2 years 10 months 24 days
Weighted average discount rate
Operating leases	6.50%	6.80%
Finance leases	7.00%	7.10%

Long-Term Borrowings - Summary Of Principal Repayments (Details) - Capex Loans [Member] $ in Thousands	Dec. 31, 2025 USD ($)
Long Term Debt Maturities Repayments Of Principal
2026	$ 0
2027	1,045
2028	2,090
2029	2,090
2030	2,090
2031 - 2035	$ 9,407

Geographic and Other Information - Net Sales by Region, Based on Location of Products are Billed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 178,860	$ 196,425
Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	178,860	185,828
Standard products business [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	88,012	79,901
Standard products business [Member] \| Asia Pacific (Other Than Korea) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	82,022	98,745
Standard products business [Member] \| United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	4,964	2,120
Standard products business [Member] \| Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 3,862	$ 5,062

- Definition

+ References

+ Details

Geographic and Other Information - Schedule of Product Categories (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues	$ 178,860	$ 196,425
Power Solution Business [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		221,140
Power Solution Business [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		54,336
Power Solution Business [Member] \| Power Analog Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		166,804
Power Solution Business [Member] \| Other Solutions Business [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		221,140
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		54,336
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		166,804
Power Solution Business [Member] \| Power Analog Solutions Business [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		166,804
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
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		166,804
Power Solution Business [Member] \| Power Ic [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		19,024
Power Solution Business [Member] \| Power Ic [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		19,024
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
Power Solution Business [Member] \| Discontinued Operation [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		35,312
Power Solution Business [Member] \| Discontinued Operation [Member] \| Mixed Signal Solutions [Member]
Segment Reporting Information by Segment for Current Period Presentation [Line Items]
Total revenues		35,312
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

- Definition

+ References

+ Details

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

10.

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 derivative contracts as of December 31, 2025 are as follows (in thousands):


Date of transaction	Type of derivative	Total notional amount		Month of settlement
February 03, 2025	Zero cost collar	$	9,000	January 2026 to March 2026
July 10, 2025	Zero cost collar	$	9,000	April 2026 to June 2026
July 17, 2025	Zero cost collar	$	9,000	July 2026 to September 2026
September 30, 2025	Zero cost collar	$	27,000	January 2026 to December 2026
November 07, 2025	Zero cost collar	$	42,000	April 2026 to June 2027

Details of derivative contracts as of December 31, 2024 are as follows (in thousands):


Date of transaction	Type of derivative	Total notional amount		Month of settlement
April 05, 2024	Zero cost collar	$	9,000	January 2025 to March 2025
July 09, 2024	Zero cost collar	$	18,000	April 2025 to September 2025
October 17, 2024	Zero cost collar	$	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 December 31, 2025 and 2024 are as follows (in thousands):


		December 31,
Derivatives designated as hedging instruments:		2025		2024
Asset Derivatives:
Zero cost collars	Other current assets	$	3	$	—
Liability Derivatives:
Zero cost collars	Other current liabilities	$	1,644	$	1,956
Zero cost collars	Other non-current liabilities	$	126	$	—

Offsetting of derivative assets and liabilities as of December 31, 2025 are as follows (in thousands):


	Gross amounts of		Gross amounts		Net amounts of assets/liabilities		Gross amounts not offset in the balance sheets
As of December 31, 2025	recognized assets/liabilities		offset in the balance sheets		presented in the balance sheets		Financial instruments		Cash collateral pledged			Net amount
Asset Derivatives:
Zero cost collars	$	3	$	—	$	3	$	—	$	—		$	3
Liability Derivatives:
Zero cost collars	$	1,770	$	—	$	1,770	$	—	$	(1,200	)	$	570

Offsetting of derivative liabilities as of December 31, 2024 are as follows (in thousands):


	Gross amounts of		Gross amounts		Net amounts of liabilities		Gross amounts not offset in the balance sheets
As of December 31, 2024	recognized liabilities		offset in the balance sheets		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 years ended December 31, 2025 and 2024 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of 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
	2025			2024				2025			2024				2025			2024
Zero cost collars	$	(748	)	$	(2,988	)	Net sales	$	(1,042	)	$	(868	)	Other income, net	$	(43	)	$	77

As of December 31, 2025, the amount expected to be reclassified from accumulated other comprehensive loss into loss within the next twelve months is $664 thousand.


	December 31,
Counterparty	2025		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, and $1,200 thousand and $1,080 thousand of additional cash collateral were required and recorded as hedge collateral on the consolidated balance sheets as of December 31, 2025 and 2024, respectively.

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.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details