Slide 1: First Quarter Fiscal 2025 Earnings Supplemental Slides
First Quarter Fiscal 2025 Earnings Supplemental Slides November 7, 2024 © 2024 Synaptics Incorporated 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements that are subject to the safe harbor provisions under the Securities Litigation Reform Act of 1955 and the Federal Securities laws. Forward-looking statements give our current expectations and projections relating to our fina
Slide 3: High-Performance IoT Semiconductor Solutions Leader
High-Performance IoT Semiconductor Solutions Leader Analog Mixed Signal Core IoT Product Strong Margin Revenue Semiconductors Applications Profile Broad Product Targeting $33B Non-GAAP Gross Q1’25 Revenue Portfolio SAM in FY28 Margin 53.9% in Q1’25 up 8% YoY ___________________________ Note: As-repo
Slide 4: Technology Leadership Across The Product Portfolio
Technology Leadership Across The Product Portfolio Core IoT Product Enterprise & Automotive Mobile Applications PC Touchpad / Wireless Video Interface Biometric Fingerprint Touch Processors Enterprise Telephony Automotive © 2024 © 2024 Synaptics Synaptics Incorporated Incorporated 4 4
Slide 5: Q1'FY25 Financial Highlights
Q1’FY25 Financial Highlights • Revenue of $258 million, up 8% YoY • Revenue was up 4% QoQ. Growth across Core IoT, Enterprise & Automotive, and Mobile $51 $60 • Non-GAAP Gross Margin improved 50bps sequentially – GAAP gross margin of 46.9% Q1’FY25 – Non-GAAP gross margin of 53.9% Revenue • GAAP loss
Slide 6: Solid YoY Growth
Solid YoY Growth • Revenue up 8% YoY • Core IoT revenue increased 55% • Non-GAAP EPS growth of 56% Revenue Core IoT Revenue Non-GAAP EPS $0.81 $258 $60 8% YoY 55% YoY 56% YoY $39 $0.52 $238 Q1'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 © 2024 © 2024 Synaptics Synaptics Incorporated Incorporated 6 6
Slide 7: Q1'FY25 Business Highlights
Q1’FY25 Business Highlights • New Wireless design-wins are accelerating across new and existing customers • Astra platform won 2024 EDGE Awards in Machine Learning and Deep Learning category • Ramping multiple designs for user presence detect solutions at major customer • Replacement design wins wit
Slide 8: Quarterly Revenue Trend
Quarterly Revenue Trend Total Revenue ($M) Core IoT Revenue Mix 23% $258 22% $247 20% $238 $237 $237 16% 16% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Note: As-reported, not proforma for any acquisition/divestiture activity over this timeframe Prior period is reclassified to curren
Slide 9: Quarterly Gross Margin Trend
Quarterly Gross Margin Trend Non-GAAP Gross Margin GAAP Gross Margin 53.4% 53.9% 53.0% 52.5% 52.9% 46.5% 46.9% 46.0% 45.8% 45.1% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Note: As-reported, not proforma for any acquisition/divestiture activity over this timeframe See the tables at
Slide 10: Q1'FY25 Financial Results
Q1’FY25 Financial Results $M (except EPS) Q1'24 Q4’24 Q1'25 QoQ YoY Revenue $237.7 $247.4 $257.7 4.2% 8% GAAP Gross Margin % 45.1% 45.8% 46.9% 110 bps 180 bps GAAP Operating Expenses $142.3 $144.5 $149.3 3% 5% GAAP Operating Margin -14.8% -12.6% -11.0% 160 bps 380 bps GAAP EPS ($1.43) $5.22 ($0.58)
Slide 11: Q1'FY25 Balance Sheet
Q1’FY25 Balance Sheet In Millions Q1'24 Q4'24 Q1'25 Cash & ST Investments $824.4 $876.9 $853.6 AR $111.2 $142.4 $135.8 Inventory $131.7 $114.0 $119.6 PP&E $67.4 $75.5 $79.5 Other $1,414.0 $1,616.2 $1,602.7 Total Assets $2,548.7 $2,825.0 $2,791.2 Current Liabilities (excluding debt) $239.5 $271.2 $24
Slide 12: Q2'FY25 Guidance
Q2’FY25 Guidance $M (except EPS) GAAP Non-GAAP Revenue $265M ± $15M NA Gross Margin* 45.0% ± 1.5% 53.5% ± 1.0% Operating Expenses** $136M ± $4.0M $96.0M ± $2M EPS*** ($0.45) ± $0.20 $0.85 ± $0.20 Revenue mix Core IoT 24% NA Enterprise & Auto 59% NA Mobile 17% NA *Projected Non-GAAP gross margin excl
Slide 13: Appendix
Appendix © 2024 Synaptics Incorporated 13
Slide 14: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Actual Actual Actual Actual Actual Actual Actual Actual Actual GAAP gross margin $ 120.9 $ 113.4 $ 110.3 $ 109.0 $ 107.1 $ 101.2 $ 172.3 $ 186.7 $ 255.7 Acquisition & integration related costs 20.8 17.8 14.3
Slide 15: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Actual Actual Actual Actual Actual Actual Actual Actual Actual GAAP net income (loss) $ (23.1) $ 207.8 $ (18.1) $ (9.0) $ (55.6) $ (23.4) $ 10.4 $ 22.0 $ 64.6 Acquisition & integration related co