Slide 1: Q3'24 Earnings Results Presentation
TTM Technologies, Inc. Q3’24 Earnings Results Presentation October 30, 2024
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements This communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o f 1995, including statements related to the future business outlook, events, and expected performance of TTM Technologies, In c. (“T
Slide 3: Key Messages from Q3 2024 Earnings Report and Call
Key Messages from Q3 2024 Earnings Report and Call • Revenue of $616.5M above the midpoint of the guided range of $580M-$620M • GAAP EPS of $0.14 • Non-GAAP EPS of $0.41 (inclusive of a $17.8 million pre-tax, non-operational, foreign exchange loss) in line with the guided range of $0.37-$0.43 • Cash
Slide 4: Q3'24 End Market Commentary
Q3’24 End Market Commentary End Market (% of Q3’24 Q3’23 Year on Year Growth Q4’24 Revenues) Guidance Aerospace & Defense 46% 45% 11% 45% Data Center Computing 19% 17% 20% 21% Medical, Industrial & 14% 16% (4%) 14% Instrumentation Automotive 14% 15% (2%) 12% Networking 7% 7% 3% 8% 4
Slide 5: Q3 2024 Operational Metrics
Q3 2024 Operational Metrics Operating Metric Q3’24 Q3’23 Advanced Technology 49% 47% Asia Pacific PCB Capacity Utilization 60% 46% North America PCB Capacity Utilization 35% 38% Top 5 Customers 41% 43% Backlog $638.9 mn $606.8 mn A&D Program Backlog $1.49 bn $1.35 bn Book to Bill 1.20 0.91 5
Slide 6: Quarterly Financial Results and Guidance
Quarterly Financial Results and Guidance Financial Metric (Non-GAAP)1 Q3’24 Q3’23 Year on Year Change Q4’24 Guide Revenues $616.5 mn $572.6 mn 7.7% $610-$650 mn Operating Margin 11.8% 10.1% 1.7 pt N/A EBITDA Margin 13.7% 14.7% (1.0) pt N/A EPS $0.41 $0.43 ($0.02) $0.44-$0.50 Cash flow from Ops $65.1
Slide 7: Additional Financial Guidance for Q4'24
Additional Financial Guidance for Q4’24 • Non-GAAP – SG&A expense of ~9.5% – R&D expense of ~1.3% – Interest expense of ~$12.1 million – Interest income of ~$2.5 million – Effective tax rate of 10%-14% – Diluted share count of 104 million • GAAP – Depreciation expense of ~$26.6 million – Amortizatio
Slide 8: Thank You
7TT™M Technologies. Inspiring Innovation Thank You
Slide 9: Appendix
7TT™M Technologies. Inspiring Innovation Appendix
Slide 10: Non-GAAP Reconciliations Q3 24
Non-GAAP Reconciliations Q3 24 RECONCILIATIONS1 Third Quarter 2024 2023 Non-GAAP gross profit reconciliation2: GAAP gross profit $ 129,888 $ 113,270 Add back item: Amortization of definite-lived intangibles 2,335 2,335 Stock-based compensation 2,719 2,212 Unrealized (gain) loss on commodity hedge (7
Slide 11: Non-GAAP Reconciliations Q3 24
Non-GAAP Reconciliations Q3 24 RECONCILIATIONS1 Third Quarter 2024 2023 Non-GAAP net income and EPS reconciliation4: GAAP net income (loss) $ 14,311 $ (37,066) Add back items: Amortization of definite-lived intangibles 9,286 13,764 Stock-based compensation 8,330 6,367 Non-cash interest expense 493 5
Slide 12: Non-GAAP Reconciliations Q3 24
Non-GAAP Reconciliations Q3 24 1 This information provides a reconciliation of non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, and adjusted EBITDA to the financial information in our consolidated condensed statements of operations. 2 Non-GAAP gross profit and gro