Vistance Networks, Inc. · NASDAQ:VISN
Vistance Networks — CommScope Holding Company — Q4 2024 Earnings Presentation
24 slides from Vistance Networks's earnings presentation, Feb 26, 2025
Slide 1: Fourth Quarter and Full Year 2024 Results
February 26, 2025 Fourth Quarter and Full Year 2024 Results
Slide 2: Important information
Important information Caution Regarding Forward Looking Statements This presentation includes certain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amende
Slide 3: Q4 and 2024 Full Year Results
Q4 and 2024 Full Year Results • Exiting year at stronger quarterly rates than full Year 2024 with strong prospect for 2025 growth • Q4 Core(1) Revenue of $1.17 billion improved by 27% compared to Q4 2023 • Q4 Core Revenue increased by 8% sequentially while Q4 Core adjusted EBITDA(2) of $240M increas
Slide 4: Full year 2024 results
Full year 2024 results (1) CommScope Core CommScope(2) CommScope incl. OWN & DAS (In $millions) (In $millions) “Continuing Operations” (In $millions, except per share amounts) FY’23 FY’24 Y/Y FY’23 FY’24 Y/Y FY’23 FY’24 Y/Y Results Results Change Results Results Change Results Results Change Net Sal
Slide 5: Fourth quarter results
Fourth quarter results (1) CommScope Core CommScope(2) CommScope incl. OWN & DAS (In $millions) (In $millions) “Continuing Operations” (In $millions, except per share amounts) 4Q’23 4Q’24 Y/Y 4Q’23 4Q’24 Y/Y 4Q’23 4Q’24 Y/Y Results Results Change Results Results Change Results Results Change Net Sal
Slide 6: Fourth quarter Core business highlights
Fourth quarter Core business highlights Business Segment Net Sales ($M) Y-Y% Adj. EBITDA(1) ($M) Y-Y% Observations 4Q’23 4Q’24 4Q’23 4Q’24 • Continued YoY revenue growth driven by cloud and hyperscale datacenter growth including GenAI projects • EBITDA margin percentage remained strong at 23.4% Conn
Slide 7: Cash flow update
Cash flow update (1) GAAP Cash Flow from Operations ($M) Free Cash Flow ($M) $271 $248 $278 $273 $51 $46 $115 $60 $51 $122 $(184) ($178) 4Q’23 1Q’24 2Q’24 3Q’24 4Q’24 FY’24 4Q’23 1Q’24 2Q’24 3Q’24 4Q’24 FY’24 • Fourth quarter cash flow up YOY driven by higher EBITDA • Delivered FY’24 free cash flow
Slide 8: Strong liquidity & balance sheet management
Strong liquidity & balance sheet management Debt Maturities (as of 12/31/24) Cash & liquidity remain strong Secured Debt Unsecured Debt ($ millions) • Ended the quarter with available ◼ ABL ◼ 5.00% Notes due 2027 liquidity over $1,112 million (2) ◼ Term Loan B ◼ 8.25% Notes due 2027 • $200 million A
Slide 9: Closing Remarks
Closing Remarks Chuck Treadway President and Chief Executive Officer 8 © 2024 CommScope, LLC. All rights reserved. | CommScope, ARRIS and t he ARRIS l ogo are trademarks of CommScope, Inc. and/or its affiliates. All other trademarks are t he property of thei r respective owners.
Slide 10: Q&A Fourth Quarter 2024 Results
Q&A Fourth Quarter 2024 Results 9 © 2024 CommScope, LLC. All rights reserved. | CommScope, ARRIS and t he ARRIS l ogo are trademarks of CommScope, Inc. and/or its affiliates. All other trademarks are t he property of thei r respective owners.
Slide 11: Appendix
COMMSCOPE’ Appendix
Slide 12: Condensed Consolidated Statements of Operations
CommScope Holding Company, Inc. Condensed Consolidated Statements of Operations (Unaudited -- In millions, except per share amounts) Three Months Ended Year Ended December 31, December 31, Statements of Net sales $ 2024 1,169.1 $ As Adjusted 2023 923.1 $ 2024 4,205.8 $ As Adjusted 2023 4,565.2 Opera
Slide 13: Consolidated Balance Sheets
CommScope Holding Company, Inc. Consolidated Balance Sheets (In millions, except share amounts) December 31, As Adjusted Balance Sheets 2024 2023 Assets Cash and cash equivalents $ 564.9 $ 500.3 Accounts receivable, net of allowance for doubtful accounts of $16.5 and $24.3, respectively 685.9 581.9
Slide 14: Condensed Consolidated Statements of Cash Flows
CommScope Holding Company, Inc. (1) Condensed Consolidated Statements of Cash Flows (Unaudited -- In millions) Three Months Ended Year Ended December 31, December 31, Statements of As Adjusted As Adjusted 2024 2023 2024 2023 Operating Activities: Net income (loss) $ 6.7 $ (581.1) $ (315.5) $ (1,506.
Slide 15: Adjusted EBITDA and Adjusted Net Income Reconciliation
CommScope Holding Company, Inc. Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures (Unaudited -- In millions, except per share amounts) Three Months Ended Year Ended December 31, December 31, Adjusted EBITDA and As Adjusted As Adjusted 2024 2023 2024 2023 Loss from continuing operations,
Slide 16: Sales by Region
CommScope Holding Company, Inc. Sales by Region Sales by Region (Unaudited -- In millions) Sales by Region % Change Q4 2024 Q4 2023 YOY United States $ 776.0 $ 595.6 30.3 % Europe, Middle East and Africa 167.2 117.3 42.5 Asia Pacific 139.8 122.5 14.1 Caribbean and Latin America 50.2 61.3 (18.1) Cana
Slide 17: Sales and Adjusted EBITDA by Segment
CommScope Holding Company, Inc. Segment Information Sales and Adjusted Segment Net Sales (Unaudited -- In millions) EBITDA by Segment Q4 2024 Q4 2023 % Change YOY CCS $ 754.0 $ 553.3 36.3 % NICS 154.2 136.4 13.0 ANS 260.9 233.4 11.8 Total net sales $ 1,169.1 $ 923.1 26.6 % Segment Adjusted EBITDA (1
Slide 18: Sales and Adjusted EBITDA by Segment
CommScope Holding Company, Inc. Segment Information (Unaudited -- In millions) Sales and Adjusted Segment Net Sales % Change EBITDA by Segment CCS Full Year 2024 $ 2,823.7 Full Year 2023 $ 2,701.9 YOY 4.5 % NICS 553.0 773.7 (28.5) ANS 829.1 1,089.6 (23.9) Total net sales $ 4,205.8 $ 4,565.2 (7.9) %
Slide 19: Adjusted EBITDA Reconciliation by Segment
CommScope Holding Company, Inc. Reconciliation of GAAP to Segment Adjusted EBITDA (Unaudited -- In millions) Fourth Quarter 2024 Segment Adjusted EBITDA Reconciliation Adjusted EBITDA CCS NICS ANS Corporate and other (1) Total Reconciliation by Operating income (loss), as reported Amortization of pu
Slide 20: Adjusted EBITDA Reconciliation by Segment
CommScope Holding Company, Inc. Reconciliation of GAAP to Segment Adjusted EBITDA (Unaudited -- In millions) Year Ended December 31, 2024 Segment Adjusted EBITDA Reconciliation Adjusted EBITDA CCS NICS ANS Corporate and other (1) Total Reconciliation by Operating income (loss), as reported Amortizat
Slide 21: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation CommScope Holding Company, Inc. Free Cash Flow (Unaudited -- In millions) Free Cash Flow (1) Q4 Q1 Q2 Q3 Q4 Full Year Full Year 2023 (2) 2024 2024 2024 2024 2024 2023 (2) Cash flow from operations $ 67.7 $ (177.7) $ 50.8 $ 122.2 $ 277.8 $ 273.1 $ 297.3 Capital expenditu
Slide 22: Adjusted Gross Profit and Adjusted Operating Expense Reconciliations
Adjusted Gross Profit CommScope Holding Company, Inc. and Adjusted Operating Adjusted Gross Profit and Adjusted Operating Expense (Unaudited -- In millions) Expense Reconciliations GAAP to Non-GAAP Adjusted Gross Profit (1) (1) Full Year Full Year (1) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 2024 202
Slide 23: Adjusted EBITDA Outlook Reconciliation
CommScope Holding Company, Inc. Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures (Unaudited -- In millions) Adjusted EBITDA Consolidated Adjusted EBITDA Outlook Reconciliation Outlook Range Outlook Reconciliation Operating income $ 660 2025 $ 695 Adjustments: Amortization of purchased i
Slide 24: Free Cash Flow Outlook Reconciliation
CommScope Holding Company, Inc. Free Cash Flow Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures (Unaudited -- In millions) Outlook Reconciliation Adjusted Free Cash Flow Outlook Range 2025 Cash flow from operations $ - $ 55 Capital expenditures (25) (30) Free cash flow $ (25) $ 25 Cash
CommScope Holding Company — Q4 2024 Earnings Presentation on 6ix