MX (MX) financial statements
MX reported revenue of $179M in fiscal 2025, down 13.9% a year over 9 years.
Net income was -$30M and the operating margin -20.0%, against 0.4% in 2016.
Free cash flow was -$54M, and the company returned $4M in net buybacks.
The diluted share count rose 4% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $688M | $680M | $465M | $521M | $507M | $474M | $338M | $230M | $196M | $179M |
| Cost of revenue | $532M | $492M | $350M | $404M | $379M | $321M | $236M | $178M | $158M | $147M |
| Gross profit | $156M | $188M | $116M | $116M | $128M | $154M | $101M | $52M | $39M | $31M |
| Research and development | $72M | $71M | $46M | $45M | $46M | $51M | $52M | $52M | $25M | $27M |
| Selling, general and admin | $84M | $82M | $48M | $48M | $50M | $52M | $51M | $48M | $38M | $35M |
| Operating income | $3M | $39M | $22M | $24M | $27M | $83M | -$5M | -$58M | -$26M | -$36M |
| Pre-tax income | -$26M | $86M | -$27M | -$18M | $11M | $74M | -$3M | -$48M | -$36M | -$32M |
| Income tax | $4M | $1M | -$1M | $2M | -$46M | $17M | $5M | -$11M | -$8M | -$18M |
| Net income | -$30M | $85M | -$4M | -$22M | $345M | $57M | -$8M | -$37M | -$54M | -$30M |
| EPS (diluted) | -$0.85 | $2.02 | -$0.11 | -$0.64 | $7.54 | $1.21 | -$0.18 | -$0.89 | -$1.44 | -$0.82 |
| Diluted shares | 35M | 45M | 34M | 34M | 47M | 48M | 45M | 41M | 38M | 36M |
| Gross margin | 22.7% | 27.6% | 24.8% | 22.4% | 25.3% | 32.4% | 30.0% | 22.4% | 19.7% | 17.6% |
| Operating margin | 0.4% | 5.8% | 4.7% | 4.6% | 5.3% | 17.6% | -1.6% | -25.1% | -13.2% | -20.0% |
| Net margin | -4.3% | 12.5% | -0.8% | -4.2% | 68.0% | 12.0% | -2.4% | -15.9% | -27.6% | -16.6% |
Balance sheet
Fiscal years, from MX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $102M | $129M | $132M | $152M | $280M | $280M | $225M | $158M | $139M | $104M |
| Receivables | $62M | $92M | $80M | $47M | $64M | $51M | $35M | $33M | $28M | $26M |
| Inventory | $57M | $73M | $72M | $41M | $39M | $39M | $40M | $33M | $31M | $34M |
| Total current assets | $243M | $330M | $353M | $379M | $410M | $409M | $338M | $245M | $219M | $177M |
| Property, plant and equipment | $180M | $206M | $202M | $73M | $96M | $108M | $111M | $100M | $81M | $100M |
| Total assets | $442M | $559M | $583M | $595M | $572M | $584M | $517M | $420M | $379M | $352M |
| Total current liabilities | $153M | $138M | $133M | $134M | $174M | $85M | $47M | $47M | $46M | $43M |
| Long-term debt | $221M | $303M | $304M | $305M | $0 | — | — | $0 | $27M | $45M |
| Total liabilities | $514M | $598M | $601M | $610M | $226M | $131M | $88M | $76M | $103M | $103M |
| Shareholders' equity | -$72M | -$40M | -$17M | -$15M | $346M | $453M | $428M | $345M | $277M | $248M |
| Net debt | $119M | $175M | $171M | $153M | -$196M | -$280M | -$225M | -$158M | -$111M | -$59M |
Cash flow
Fiscal years, from MX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9M | -$20M | $39M | $50M | $7M | $88M | $5M | -$3M | -$6M | -$24M |
| Capital spending | $19M | $33M | $29M | $23M | $36M | $32M | $23M | $7M | $12M | $30M |
| Free cash flow | -$9M | -$53M | $10M | $28M | -$29M | $56M | -$18M | -$10M | -$18M | -$54M |
| Stock-based compensation | $4M | $2M | $4M | $7M | $7M | $8M | $6M | $7M | $6M | $2M |
| Share buybacks (net) | — | -$11M | -$2M | -$3M | -$1M | -$2M | -$14M | -$52M | -$13M | -$4M |
| Net borrowing | — | — | -$2M | -$1M | -$224M | — | — | — | — | — |
| Free cash flow margin | -1.4% | -7.8% | 2.2% | 5.3% | -5.6% | 11.7% | -5.4% | -4.3% | -9.0% | -30.3% |
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Open MX in InvestinglyQuestions
What was MX's revenue in 2025?
$179M in fiscal 2025, from its 10-K filing.
How much free cash flow does MX generate?
-$54M in fiscal 2025 (operating cash flow minus capital spending).
From MX's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.