$HIMX

Himax Technologies, Inc.

CIK:0001342338|SEC Filings

Consolidated Statements of Profit or Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues:
Revenues from third parties, net	$ 832,070	$ 906,737	$ 945,309
Revenues from related parties, net	103	65	119
Total revenues	832,173	906,802	945,428
Costs and expenses:
Cost of revenues	577,812	630,601	681,931
Research and development	161,128	160,329	171,392
General and administrative	25,715	24,121	25,037
Sales and marketing	23,392	23,530	23,856
Total costs and expenses	788,047	838,581	902,216
Operating income	44,126	68,221	43,212
Non operating income (loss):
Interest income	9,842	9,907	8,746
Changes in fair value of financial assets at fair value through profit or loss	1,472	1,363	1,655
Foreign currency exchange gains (losses), net	2,801	2,491	(768)
Finance costs	(3,491)	(4,014)	(6,080)
Share of losses of associates	(3,185)	(831)	(598)
Other gains (losses)	3,205	0	(1,932)
Other income	97	198	158
Total non operating income (loss)	10,741	9,114	1,181
Profit before income taxes	54,867	77,335	44,393
Income tax expense (benefit)	9,592	(2,435)	(5,028)
Profit for the year	45,275	79,770	49,421
Loss (profit) attributable to noncontrolling interests	(1,338)	(15)	1,195
Profit attributable to Himax Technologies, Inc. stockholders	$ 43,937	$ 79,755	$ 50,616
Basic earnings per ordinary share attributable to Himax Technologies, Inc. stockholders	$ 0.13	$ 0.23	$ 0.15
Diluted earnings per ordinary share attributable to Himax Technologies, Inc. stockholders	0.13	0.23	0.14
Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders	0.25	0.46	0.29
Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders	$ 0.25	$ 0.46	$ 0.29

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Profit for the year	$ 45,275	$ 79,770	$ 49,421
Adjustments for:
Depreciation and amortization	22,549	22,354	20,322
Share-based compensation expenses	730	1,247	2,663
Loss (gains) on disposal and scrap of property, plant and equipment, net	10	4	(368)
Gains on disposal of land held for sale	(3,205)	0	0
Loss on re-measurement of the pre-existing relationships in a business combination	0	0	1,932
Changes in fair value of financial assets at fair value through profit or loss	(1,472)	(1,363)	(1,655)
Interest income	(9,842)	(9,907)	(8,746)
Finance costs	3,491	4,014	6,080
Income tax expense (benefit)	9,592	(2,435)	(5,028)
Share of losses of associates	3,185	831	598
Inventories write downs	17,087	13,551	21,540
Unrealized foreign currency exchange losses (gains)	264	(171)	624
Cash flows from operating activities before changes in operating capital	87,664	107,895	87,383
Changes in:
Accounts receivable (including related parties)	29,380	(40,738)	20,804
Inventories	(10,501)	45,011	132,090
Other receivable from related parties	(9)	56	5
Other current assets	(8,949)	3,941	(3,863)
Accounts payable (including related parties)	25,766	14,567	7,676
Other payable to related parties	364	(110)	(268)
Contract liabilities	1,098	45	(37,051)
Other current liabilities	15,545	(9,010)	1,246
Other non-current liabilities	(18)	(2,260)	(4,602)
Cash generated from operating activities	140,340	119,397	203,420
Interest received	9,386	9,732	8,567
Interest paid	(3,692)	(4,015)	(6,080)
Income tax paid	(6,007)	(9,138)	(53,066)
Net cash provided by operating activities	140,027	115,976	152,841
Cash flows from investing activities:
Acquisitions of property, plant and equipment	(20,125)	(13,054)	(23,378)
Proceeds from disposal of property, plant and equipment	0	0	111
Acquisitions of intangible assets	(397)	(153)	(115)
Acquisitions of financial assets at amortized cost	(6,217)	(11,236)	(6,911)
Proceeds from disposal of financial assets at amortized cost	7,803	19,457	3,099
Acquisitions of financial assets at fair value through profit or loss	(61,765)	(76,003)	(82,628)
Proceeds from disposal of financial assets at fair value through profit or loss	37,272	70,389	75,539
Acquisitions of financial assets at fair value through other comprehensive income	(3,300)	(17,164)	(1,379)
Proceeds from disposal of financial assets at fair value through other comprehensive income	0	0	99
Acquisition of a subsidiary, net of cash acquired (paid)	(584)	(5,416)	433
Proceeds from capital reduction of investment	0	338	360
Acquisitions of equity method investments	(1,470)	(1,236)	0
Decrease (increase) in refundable deposits	28,403	33,562	(56,933)
Releases of restricted deposit	31	0	0
Cash received in advance from disposal of land	0	0	2,821
Net cash used in investing activities	(20,349)	(516)	(88,882)
Cash flows from financing activities:
Purchase of treasury shares	(4,515)	(832)	0
Decrease (increase) in prepayments for purchase of treasury shares	515	(2,168)	0
Payments of cash dividends	(64,934)	(50,670)	(83,720)
Payments of dividend equivalents	(218)	(233)	(148)
Proceeds from issuance of new shares by subsidiaries	189	71	916
Purchases of subsidiary shares from noncontrolling interests	(127)	(190)	(9)
Proceeds from short-term unsecured borrowings	946	0	47,226
Repayments of short-term unsecured borrowings	(1,125)	0	(47,226)
Repayments of long-term unsecured borrowings	(6,416)	(6,000)	(6,000)
Proceeds from short-term secured borrowings	2,200,560	1,780,300	1,383,300
Repayments of short-term secured borrowings	(2,136,060)	(1,729,600)	(1,299,600)
Pledge of restricted deposit	(64,500)	(50,700)	(83,700)
Payment of lease liabilities	(3,160)	(5,032)	(4,830)
Guarantee deposits received (refunded)	(1,898)	(23,163)	200
Net cash used in financing activities	(80,743)	(88,217)	(93,591)
Effect of foreign currency exchange rate changes on cash and cash equivalents	421	(844)	(200)
Net increase (decrease) in cash and cash equivalents	39,356	26,399	(29,832)
Cash and cash equivalents at beginning of year	218,148	191,749	221,581
Cash and cash equivalents at end of year	$ 257,504	$ 218,148	$ 191,749

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 257,504	$ 218,148
Financial assets at amortized cost	2,714	4,286
Financial assets at fair value through profit or loss	26,004	2,140
Accounts receivable, net (including related parties)	200,876	236,813
Inventories	152,675	158,746
Income taxes receivable	492	726
Restricted deposit	568,200	503,700
Other receivable from related parties	22	13
Other current assets	56,845	43,471
Total current assets	1,265,332	1,168,043
Financial assets at fair value through profit or loss	26,516	23,554
Financial assets at fair value through other comprehensive income	56,836	28,226
Equity method investments	10,212	8,571
Property, plant and equipment, net	120,031	121,280
Deferred tax assets	22,268	21,193
Goodwill	28,138	28,138
Other intangible assets, net	2,565	636
Restricted deposit	0	31
Refundable deposits	185,247	221,824
Other non-current assets	17,875	18,025
Total non current assets	469,688	471,478
Total assets	1,735,020	1,639,521
Current liabilities:
Short-term unsecured borrowings	140	0
Current portion of long-term unsecured borrowings	6,000	6,000
Short-term secured borrowings	568,200	503,700
Accounts payable	138,683	113,203
Income taxes payable	14,357	9,514
Other payable to related parties	364	0
Contract liabilities-current	3,322	10,622
Other current liabilities	68,443	63,595
Total current liabilities	799,509	706,634
Long-term unsecured borrowings	22,500	28,500
Deferred tax liabilities	727	564
Other non-current liabilities	10,145	7,496
Total liabilities	832,881	743,194
Equity
Ordinary shares	107,010	107,010
Additional paid-in capital	115,850	115,376
Treasury shares	(9,760)	(5,546)
Accumulated other comprehensive income	36,704	8,621
Retained earnings	643,588	664,600
Equity attributable to owners of Himax Technologies, Inc.	893,392	890,061
Noncontrolling interests	8,747	6,266
Total equity	902,139	896,327
Total liabilities and equity	$ 1,735,020	$ 1,639,521