Globalfoundries Inc. · NASDAQ:GFS
Globalfoundries — Q1 2026 Earnings Presentation
32 slides from Globalfoundries's earnings presentation, May 5, 2026
Slide 1: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results (unaudited) May 5, 2026 1
Slide 2: Disclaimer - Forward-looking statements and Third-Party Data
Disclaimer - Forward-looking statements and Third-Party Data This presentation and the accompanying oral presentation include “forward- Although we believe that the expectations reflected in our statements are We define Non-IFRS adjusted free cash flow as cash flow provided by (used looking statemen
Slide 3: Results and Highlights
Results and Highlights
Slide 4: First Quarter 2026 Results
First Quarter 2026 Results Revenue Non-IFRS Gross Non-IFRS Earnings Margin(1) per Share(1) $1.63B 29.0% $0.40 ↑ 3.1% Y/Y ↑ 510bps Y/Y ↑ 18% Y/Y (1) See the Appendix for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and for a discussion of why we believe
Slide 5: Key First Quarter 2026 Highlights
Key First Quarter 2026 Highlights Quarterly Results Margin Expansion » Q1 2026 results at or » First quarter saw the above the high end of largest Y/Y expansion non-IFRS(1) guidance of non-IFRS gross ranges margin(1) in over three years End Market Highlight Shareholder Return » Sixth consecutive » G
Slide 6: Key Announcements
Key Announcements
Slide 7: GF & Renesas to Accelerate U.S. Manufacturing
GF & Renesas to Accelerate U.S. Manufacturing GF and Renesas announced an expanded multi-billion dollar strategic partnership that broadens Renesas' access to GF's technology portfolio, including FDX, BCD and feature-rich CMOS with non-volatile memory. Expected Outcomes: Support SoCs, power Manufact
Slide 8: Introducing SCALE: GF's CPO Solution
Introducing SCALE: GF’s CPO Solution Silicon Photonics Co-packaged Advanced Light Engine 8
Slide 9: AutoPro150 eMRAM on FDX for Advanced Auto
AutoPro150 eMRAM on FDX for Advanced Auto GF announced the availability of Auto Grade 1 ready eMRAM technology on the ultra-low power FDX™ platform, a key enhancement to GF’s portfolio of eNVM technologies and AutoPro™ platform. Expected Outcomes: Deliver proven Enable future-proof endurance up to A
Slide 10: End Markets
End Markets
Slide 11: End Market Commentary
End Market Commentary 9 Com Communications Infrastructure and Smart Mobile Home and Data Center » Automotive » Devices » Industrial IoT » We now expect to achieve We expect Automotive to We expect SMD to Beyond 2026, we expect high-30s percent Y/Y deliver its sixth gradually benefit from new IoT to
Slide 12: Communications Infrastructure and Data Center
Communications Infrastructure and Data Center Q1'26 Revenue $230M ↑ 32% Y/Y End Market Commentary In the first quarter, we executed Advanced Micro Foundry (GF additional tape outs for silicon Science Park) integration is on photonics that give us track and we expect this confidence we are on track t
Slide 13: Automotive
Automotive Q1'26 Revenue $382M ↑ 24% Y/Y End Market Commentary In addition to our strength in We are continuing to diversify MCUs, we are in the early stage our offerings within automotive of revenue ramps as the result by ramping newly secured of our accumulated design wins sockets in applications
Slide 14: Smart Mobile Devices
Smart Mobile Devices Q1'26 Revenue $558M ↓ (5)% Y/Y End Market Commentary New applications and emerging In the first quarter, we secured form factors benefit from the two new design wins on our features we offer, such as low FDX platform for microLED power, greater reliability, and backplanes used i
Slide 15: Home and Industrial IoT
Home and Industrial IoT Q1'26 Revenue $255M ↓ (22)% Y/Y End Market Commentary We expect 2026 to be a growth In the realm of robotics and year for IoT, helped in part by physical AI, in March GF the normalization of core announced a partnership with industrial customer inventory. Inova Semiconductors
Slide 16: Q1'26 Revenue by End Market
Q1'26 Revenue by End Market (Unaudited, in millions USD) ((Unaudited, in millions) Year-over-year Sequential Q1'26 Q4'25 Q1'25 Q1'26 vs Q1'25 Q1'26 vs Q4'25 Smart Mobile Devices $ 558 $ 657 $ 586 $ (28) (5)% $ (99) (15)% Communications Infrastructure and Data $ 230 $ 225 $ 174 $ 56 32% $ 5 2% Center
Slide 17: Q1'26 Revenue Mix by End Market
Q1'26 Revenue Mix by End Market 9(Unaudited) 13% 12% Smart Mobile Devices 34% 37% Communications Infrastructure and Data Center 19% 23% Q1'26 Q1'25 Home and Industrial IoT Automotive 14% 21% 16% 11% Technology Services & Other 17
Slide 18: Capex and Cash Flow
Capex and Cash Flow First Quarter 2026 ▪ We are expanding capacity in oversubscribed corridors, Cash flow from operations $542M such as Silicon Photonics, FDX, and SiGe, to alleviate supply constraints relative to Capital expenditures $312M (19% of Revenue) the strong demand. ▪ Even with greater inv
Slide 19: Outlook
Outlook 19
Slide 20: Q2'26 Guidance
Q2’26 Guidance(1) (Unaudited, in millions USD, except per share amounts) IFRS Share-Based Non-IFRS(2) Compensation(3) Net Revenue $1,760 ± $25 Gross Margin(2) 27.4% ± 100bps ~110bps 28.5% ± 100bps Operating Expenses(2) $277 ± $10 ~$52 $225 ± $10 Operating Margin(2) 11.7% ± 180bps ~400bps 15.7% ± 180
Slide 21: Appendix: Summary Financials and Reconciliations
Appendix: Summary Financials and Reconciliations
Slide 22: Q1'26 Financial Summary
Q1'26 Financial Summary (Unaudited, in millions, except per share data and wafer shipments) Year-over-year Sequential Q1'26 Q4'25 Q1'25 Q1'26 vs Q1'25 Q1'26 vs Q4'25 Net revenue $ 1,634 $ 1,830 $ 1,585 $ 49 3% $ (196) (11)% Gross profit $ 451 $ 508 $ 355 $ 96 27 % $ (57) (11)% Gross margin 27.6% 27.
Slide 23: Statement of Operations
Statement of Operations (Unaudited, in millions, except per share amounts) Three Months Ended March 31, 2026 December 31, 2025 March 31, 2025 Net revenue $ 1,634 $ 1,830 $ 1,585 Cost of revenue 1,183 1,322 1,230 Gross profit $ 451 $ 508 $ 355 Operating expenses: Research and development 132 133 127
Slide 24: Statements of Financial Position
Statements of Financial Position (Unaudited, in millions) As of March 31, 2026 December 31, 2025 Assets: Cash and cash equivalents $ 1,849 $ 1,809 Marketable securities 1,154 1,241 Receivables, prepayments and other 1,347 1,578 Inventories 1,686 1,577 Current assets 6,036 6,205 Property, plant, and
Slide 25: Statement of Cash Flows
Statement of Cash Flows (Unaudited, in millions) Three Months Ended March 31, 2026 March 31, 2025 Operating Activities: Net income $ 104 $ 211 Depreciation and amortization 311 352 Finance (income) expense, net and other 7 9 Deferred income taxes 67 (64) Net change in working capital 4 (144) Other n
Slide 26: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (1) (Unaudited, in millions, except per share amounts) Three Months Ended March 31, 2026 Selling, Income tax Research & Operating Other income Gross profit general & (expense) Net income Diluted EPS development profit (expense) administrative benefit As Reported $ 45
Slide 27: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations(1) (Unaudited, in millions, except per share amounts) Three Months Ended December 31, 2025 Selling, general Income tax Research & Operating Other income Gross profit & (expense) Net income Diluted EPS development profit (expense) administrative benefit As Reported $
Slide 28: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations(1) (Unaudited, in millions, except per share amounts) Three months ended March 31, 2025 Selling, general Income tax Research & Operating Other income Gross profit & (expense) Net income Diluted EPS development profit (expense) administrative benefit As Reported $ 355
Slide 29: IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted Free Cash Flow
IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted Free Cash Flow(1) a (Unaudited, in millions) Three Months Ended March 31, 2026 December 31, 2025 March 31, 2025 Net cash provided by operating activities $ 542 $ 374 $ 331 Less: Purchases of property, plant and (312) (208) (166) equipment and intangi
Slide 30: IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted EBITDA
IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted EBITDA(1) (Unaudited, in millions) Three Months Ended March 31, 2026 December 31, 2025 March 31, 2025 Net revenue $ 1,634 $ 1,830 $ 1,585 Net income 104 200 211 Net income margin 6.4 % 10.9 % 13.3 % Depreciation and amortization 311 313 352 Finance e
Slide 31: Financial Measures (Non-IFRS)
Financial Measures (Non-IFRS) In addition to the financial information presented in accordance with International Financial We believe that in addition to our results determined in accordance with IFRS, these Non- Reporting Standards ("IFRS"), this press release includes the following Non-IFRS finan
Slide 32: Thank You
Thank You The information contained herein is the property of GlobalFoundries and/or its licensors. This document is for informational purposes only, is current only as of the date of publication and is subject to change by GlobalFoundries at any time without notice. GlobalFoundries, the GlobalFound