Slide 1: Q3 2024 Financial Results Conference Call
August 29, 2024 Q3 2024 Financial Results Conference Call
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and some of our comments during this presentation may contain projections or other forward-looking statements regarding future events, our future financial performance, and/or the future performance of the industry. These statements are predictions and contain
Slide 3: Q3 2024 Summary
Q3 2024 Summary Positioned for Long-Term Profitable Growth and Sustainable Shareholder Value Creation $211.0M Revenue 24.7% Operating Margin $0.55 EPS $0.51 Non-GAAP EPS1 $75.1M OCF $606.4M Cash2 and Short-term investments (6%) Y/Y (3%) Q/Q (440) bps Y/Y (110) bps Q/Q 25% Y/Y (5%) Q/Q Flat Y/Y 11% Q
Slide 4: Long-Term Trends Driving Photomask Demand
Semiconductor: growing capacity and design activity More extensive use of semiconductors across multiple applications, driven by megatrends such as AI and IoT. Supply chain regionalization driving investments in semiconductor fabs that creates redundant production capacity and drives photomask deman
Slide 5: Revenue by Product Line
Revenue by Product Line $M Q324 Q/Q Y/Y High-End* 49.5 (15%) 9% Mainstream 106.4 3% (10%) Total 155.9 (3%) (4%) High-end down Q/Q on lower demand from Asia foundries; Y/Y up on strong US sales; memory up both Q/Q and Y/Y. Mainstream up Q/Q primarily in US; soft Asia demand caused Y/Y decline. Long-t
Slide 6: Balance Sheet and Cash Flow Metrics
Balance Sheet and Cash Flow Metrics Balance Sheet Provides Resilience, Enables Growth Strategy and Shareholder Value Creation $M Q324 Y/Y Q/Q Cash, cash equivalents, and Short-term investments 606.4 27% 8% Debt 20.1 (25%) (8%) Operating Cash Flow 75.1 (13%) (2%) Capital Expenditures 24.4 16% 22% Con
Slide 7: Q4 2024 Guidance
Q4 2024 Guidance Revenue ($M) 213 – 221 Operating Margin 25% - 27% Taxes ($M) 15 – 17 Diluted non-GAAP EPS $0.48 - $0.54 Diluted Shares (M) ~62 Full-year Capex (M) ~130 Incorporation of chips in AI, IoT, 5G, and consumer products. New designs to capture market share. Advanced display technologies. O
Slide 8: Appendix
Appendix \
Slide 9: Revenue by Product Group ($M)
Revenue by Product Group ($M) Total may differ due to rounding IC FPD Mainstream High-End Mainstream High-End Total Revenue IC Revenue FPD Revenue High-End: 28nm and smaller High-End: ≥G10.5, AMOLED and LTPS
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Net Income attributable to Photronics, Inc. shareholders and non-GAAP earnings per share are "non-GAAP financial measures" as such term is defined by Regulation G of the Securities and Exchange Commission, and may differ from similarly named non-GAAP financial me
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures