Slide 1: Second Quarter Fiscal 2024 Earnings Supplemental Slides
Second Quarter Fiscal 2024 Earnings SUPPLEMENTAL SLIDES FEBRUARY 8, 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations and projections relatin
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 Q2’24 Revenue Portfolio SAM in FY28 Margin 52.5% in Q2’24 consistent QoQ ___________________________ Note: As
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 Synaptics Incorporated 4
Slide 5: Q2'FY24 Financial Highlights
Q2’FY24 Financial Highlights • Revenue of $237 million, down 33% YoY • Revenue was roughly flat QoQ and consistent for the past three quarters $38 $63 • Gross Margins were in line with expectations in Q2 – GAAP gross margin of 46.0% Q2’FY24 – Non-GAAP gross margin of 52.5% Revenue • Better than expe
Slide 6: Q2'FY24 Business Highlights
Q2’FY24 Business Highlights • First wireless automotive win with lead module partner for in-car infotainment systems • New single-core Processor with AI engine. Sampling with two leading PC customers for user presence detection application • New Touch controller win at Samsung for the flagship Galax
Slide 7: Quarterly Revenue Trend
Quarterly Revenue Trend Total Revenue ($M) Core IoT Revenue Mix 30% 29% $448 25% 25% $353 $327 20% 20% 16% 16% $238 $237 15% $227 15% 10% 5% 0% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Note: As-reported, not proforma for any acquisition/divestiture activity over this t
Slide 8: Quarterly Gross Margin Trend
Quarterly Gross Margin Trend Non-GAAP Gross Margin GAAP Gross Margin 62.6% 57.1% 59.8% 60.3% 52.9% 52.8% 55.7% 53.0% 52.5% 46.0% 45.1% 44.5% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Note: As-reported, not proforma for any acquisition/divestiture activity over this time
Slide 9: Q2'FY24 Financial Results
Q2’FY24 Financial Results $M (except EPS) Q2’23 Q1’24 Q2’24 QoQ YoY Revenue $353.1 $237.7 $237.0 (0%) (33%) GAAP Gross Margin % 52.9% 45.1% 46.0% 90 bps -690 bps GAAP Operating Expenses $140.6 $142.3 $126.9 (11%) (10%) GAAP EPS Diluted $0.55 ($1.43) ($0.23) (84%) (142%) Non-GAAP Gross Margin % 59.8%
Slide 10: Q2'FY24 Balance Sheet
Q2’FY24 Balance Sheet In Millions Q4’23 Q1’24 Q2’24 Cash & ST Investments $934.3 $824.4 $848.7 AR $163.9 $111.2 $126.6 Inventory $137.2 $131.7 $125.1 PP&E $66.4 $67.4 $71.0 Other $1,309.6 $1,414.0 $1,401.9 Total Assets $2,611.4 $2,548.7 $2,573.3 Current Liabilities (excluding debt) $254.1 $239.5 $24
Slide 11: Q3'FY24 Guidance
Q3’FY24 Guidance $M (except EPS) GAAP Non-GAAP Revenue $220M - $250 NA Gross Margin* 43.5% - 46.5% 52.0% - 54.0% Operating Expenses** $130 - $135 $94 - $98 EPS Diluted ($0.80) - ($1.10) $0.35 - $0.65 Revenue mix Core IoT 19% NA Enterprise & Auto 57% NA Mobile 24% NA *Projected Non-GAAP gross margin
Slide 12: Appendix
Appendix
Slide 13: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Actual Actual Actual Actual Actual Actual GAAP gross margin $ 109.0 $ 107.1 $ 101.2 $ 172.3 $ 186.7 $ 255.7 Acquisition related costs 14.4 17.8 24.5 23.7 23.3 23.5 Share-based compensation 1.1 1.1 1.0 0.9 1.0 1.1 Non-GAAP gro
Slide 14: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Actual Actual Actual Actual Actual Actual GAAP net income (loss) $ (9.0) $ (55.6) $ (23.4) $ 10.4 $ 22.0 $ 64.6 Acquisition & transaction/integration related costs 18.3 23.3 33.0 32.2 34.0 33.0 Share-based compens
Slide 15: Engineering Exceptional Experiences
Engineering Exceptional Experiences © 2024 Synaptics Incorporated 15