Advanced Energy Industries, Inc. · NASDAQ:AEIS
Advanced Energy Industries — Q4 2024 Earnings Presentation
13 slides from Advanced Energy Industries's earnings presentation, Feb 12, 2025
Slide 1: Advanced Energy (AEIS) Q4 and Full Year 2024 Financial Results
Advanced Energy (AEIS) Q4 and Full Year 2024 Financial Results FEBRUARY 12, 2025
Slide 2: Safe Harbor
Safe Harbor Advanced Energy Industries, Inc.'s (the “Company's” or “Advanced Energy's”) guidance and other statements herein or made on the earnings conference call contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1
Slide 3: Q4 2024 Financial Highlights
Q4 2024 Financial Highlights REVENUE NON-GAAP GROSS MARGIN(1) OPERATING CASH FLOW(2) $415 million 38.0% $83 million NON-GAAP EPS NON-GAAP OP MARGIN(1) TOTAL CASH(3) $1.30 13.5% $722 million (1) Detailed explanations of non-GAAP financials and reconciliations of GAAP to non-GAAP financials can be fou
Slide 4: Q4 and Full Year 2024 Summary
Q4 and Full Year 2024 Summary Q4 2024 revenue and Non-GAAP EPS(1) exceeded guidance ▪ Revenue of $415 million grew 11% Q/Q and returned to Y/Y growth ▪ Pockets of higher demand in Semiconductor and strength in Data Center Computing, more than offset ongoing sluggishness in Industrial and Medical ▪ N
Slide 5: Q4 2024 Detail by Market
Q4 2024 Detail by Market Up 15% Q/Q & 19% Y/Y ($ in millions) Flat Q/Q & Down 29% Y/Y ▪ Upside driven by strong year-end ▪ Direct and channel customers continue to demand across multiple customers work down excess inventories ▪ Strong growth across Product and ▪ Launched 12 new I&M products with Ser
Slide 6: Q4 and 2024 Revenue by Market
Q4 and 2024 Revenue by Market Q4 2024 Q3 2024 Q4 2023 Q/Q Y/Y 2024 2023 Y/Y Semiconductor Equipment $226.8 $197.5 $191.4 14.9% 18.5% $792.6 $743.8 6.6% Industrial & Medical $76.8 $76.8 $108.6 0.0% -29.3% $316.2 $474.4 -33.4% Data Center Computing $88.7 $80.7 $62.9 9.9% 41.1% $284.2 $249.9 13.7% Tele
Slide 7: Q4 and 2024 Income Statement
Q4 and 2024 Income Statement Q4 2024 Q3 2024 Q4 2023 Q/Q Y/Y 2024 2023 Y/Y Revenue $415.4 $374.2 $405.3 11.0% 2.5% $1,482.0 $1,655.8 -10.5% GAAP gross margin 37.2% 35.8% 35.3% 35.7% 35.8% GAAP operating expenses $120.7 $145.1 $129.1 -16.8% -6.5% $492.7 $478.7 2.9% GAAP operating margin from continui
Slide 8: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q4 2024 Q3 2024 Q4 2023 Total Cash increased Q/Q to $722 million ▪ Net cash(1) at $157 million Cash $722.1 $657.3 $1,044.6 Inventory Turns improved Q/Q to 2.9x Inventories $360.4 $377.7 $336.1 ▪ Days inventory decreased Q/Q from 143 to 126 days Accounts Receivable $265.3 $2
Slide 9: Q1 2025 Guidance
Q1 2025 Guidance Revenue $392M ± $20M GAAP EPS from continuing operations $0.48 ± $0.25 Non-GAAP(1) EPS $1.03 ± $0.25 (1) Detailed explanations of non-GAAP financials and reconciliations of GAAP to non-GAAP financials can be found at the end of this presentation
Slide 10: Quarterly Non-GAAP Financials
Quarterly Non-GAAP Financials(1) Quarterly Trend (figures in $ millions, except percentage and EPS) All figures from Continuing Operations 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue 397.5 440.9 516.3 490.7 425.0 415.5 410.0 405.3 327.5 364
Slide 11: Non-GAAP Measures
Non-GAAP Measures All financial figures presented in this presentation, such as gross margin, operating expense item, operating margins, EBITDA, other income, tax rate, earnings per share and depreciation, are on a non-GAAP financial basis unless otherwise specified. Detailed reconciliations of GAAP
Slide 12: Non-GAAP Reconciliation
Reconciliation of Non-GAAP measure Non-GAAP Reconciliation - Income excluding certain items 2024 Three Months Ended December 31, 2023 September 30, 2024 Year Ended December 31, 2024 2023 ($ in thousands, except percentage and $ per share) Income (loss) from continuing operations, less non-controllin
Slide 13: Q1 2025 Reconciliation of GAAP to Non-GAAP Guidance
Q1 2025 Reconciliation of GAAP to Non-GAAP Guidance Reconciliation of Q1 2025 Guidance Low End High End Revenue $372 million $412 million Reconciliation of non-GAAP earnings per share GAAP earnings per share $ 0.23 $ 0.73 Stock-based compensation 0.35 0.35 Amortization of intangible assets 0.15 0.15
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