Nova Ltd. · NASDAQ:NVMI
Nova — Investor Day (September 2022)
16 slides from Nova's investor day presentation, September 2022
Slide 1: Investor Day
Welcome Investor Day September 2022
Slide 2: Agenda
Agenda Insightful Growth Eitan Oppenhaim Dror David Zohar Gil Dr. Shay Wolfling President & CEO CFO CMO CTO Long-term Financial model & Growth engines & Unique technology outperformance profitable growth market drivers for exponential growth & strategic planning 2 © Nova proprietary information
Slide 3: Long-Term Outperformance & Strategic Planning
Long-Term Outperformance & Strategic Planning Eitan Oppenhaim, President & CEO September 2022
Slide 4: What has changed from our last event?
TTM Revenues Productivity $510 Million 50% output growth YoY 3 more facilities in construction H1 Revenue 3 Divisions >50% product growth YoY Metrology Coverage What has Cash Reserves changed from Portfolio $500M Gross Buy back in place our last event ? 3 new materials products R&D Spend >28% in new
Slide 5: Metrology coverage, new organic engines, diverse customer mix
Revenue doubled every 4-5 years (average) +154% $510 +122% Process Company Control Revenue $416M $416M +126% +66% Revenue +53% $269M $251M $225M $164M $4.78 $3.85 +200% EPS $2.06 EPS $1.59 2016 2018 2021 20192019 2020 2020 2021 2021 TTM TTM Metrology coverage New organic engines Diverse customer mix
Slide 6: Memory, Packaging and Logic device complexity
Memory Device X6 64 Layers 400 Dimensional Advanced SW Packaging Device X30 Flip-Chip Bump I/O 3D-SOC Materials Chemical Physical & Pitch <300µm <10µm Mathematical Algorithms Logic Device A4 X100 A15 Transistors 150M 16B 6 © Nova proprietary information
Slide 7: Dimensional Metrology Intensity
Dimensional Metrology Intensity Metrology Intensity Logic +50-100% Planar FinFET Nano Sheet 3D NAND +30-100% Scaled Devices Single Stack Multi-deck Over Periphery 3D Profiles Multiple Design Steps DRAM +30-100% Films Variety 1b 1c 3D DRAM Intricate Architecture Scale & Complexity 7 © Nova proprietar
Slide 8: Materials Metrology Intensity
Materials Metrology Intensity From 20 to 90 Steps Uniformity Control Intensity Contamination Logic X4 Broader Metrology Scope Residue Control Memory X3 Past Present Phases 21 62 Defectivity Crystallinity Stress & Strain Thin Films Thin Films Composition Composition Materials Diversity 8 © Nova propr
Slide 9: Chemical Metrology Intensity
Chemical Intensity Metrology Intensity <150µm <60µm <40µm Back End: Advanced I/O Pitch Packaging Flip-Chip Fan-Out Hybrid 3D 8 13 17 Complexity New materials Front End: Interconnect Interconnect Layers New chemistries Stability and purity Planar FinFET GAA Tighter process control Complexity 9 © Nova
Slide 10: Semi Demand
Digital Investment across broad Transformation range of IC Devices Architecture Technology transitions to support performance demand Smart Sensors Resume normal scaling cycles (EUV) Below 7nm Metrology Semi Demand for increased Intensity Demand content in advanced devices Geo-centric strategy drives
Slide 11: Executing Nova $500M
Executing Nova 500 $500M >$500 TTM Revenue $400M Meeting Financial Model $300M Introduced 3 New Technologies $200M Acquired ancosys $100M 2015 2020 Target Proven Growth Territories, Customers, Markets 11 © Nova proprietary information Non-GAAP Financials
Slide 12: Nova $1B Plan (5 Years)
Nova $1B Plan (5 Years) Outperforming the Market New Technologies Proliferation $1000M M&A >3 New Technologies $800M Chemical Analysis Growth $600M Materials Metrology Leadership $400M Diversified Markets Further M&A 2018 2022 Target 12 © Nova proprietary information Non-GAAP Financials
Slide 13: Supporting multiple new and trailing products; strengthening the distributed model
+111% Supporting multiple new and trailing +112% products +50% Strengthening the distributed model over 3 major sites 2018 2020 2022 2024E 3 New expansions support 1B$ capacity 3 distributed sites New complex products Supply chain resiliency 3 main production lines Internal versus outsource Labs and
Slide 14: Differentiated technology, innovative metrology, physical and ML algorithms
Differentiated technology Innovative metrology Investment in New Technologies (of Total R&D, Gross) 39% Physical and ML algorithms Deep tech data-driven solutions 38% 33% 28% Service revenue Extendibility & enhancement 2022 2024 2026 2028 Research technologies LAB to FAB 14 © Nova proprietary inform
Slide 15: Inorganic Approach
Inorganic Approach Search Guidelines Early Access Top Line Lab to Fab Technology Synergy Complementary Materials Technology Leadership Operational Leverage (Accretion) Diversification Within Software Offering Core Capabilities Enhancement Transformational Adjacent Process Control Markets 15 © Nova P
Slide 16: Thank You
Thank You