Slide 1: Q1'25 Earnings Results Presentation
TTM Technologies, Inc. Q1’25 Earnings Results Presentation April 30, 2025
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 Q1 2025 Earnings Report and Call
Key Messages from Q1 2025 Earnings Report and Call • Revenue of $648.7M above the high end of the guided range of $600M-$640M • GAAP EPS of $0.31 • Non-GAAP EPS of $0.50 above the guided range of $0.37-$0.43, and a record for a first quarter • Cash usage from operations of -$10.7M due to an increase
Slide 4: Q1'25 End Market Commentary
Q1’25 End Market Commentary End Market (% of Q1’25 Q1’24 Year on Year Growth Q2’25 Revenues) Guidance Aerospace & Defense 47% 46% 15% 45% Data Center Computing 21% 21% 15% 21% Medical, Industrial & 13% 14% 5% 15% Instrumentation Automotive 11% 13% (3%) 11% Networking 8% 6% 53% 8% 4
Slide 5: Q1 2025 Operational Metrics
Q1 2025 Operational Metrics Operating Metric Q1’25 Q1’24 Advanced Technology 44% 48% Asia Pacific PCB Capacity Utilization 58% 52% North America PCB Capacity Utilization 35% 38% Top 5 Customers 45% 42% Backlog $517.5 M* $459.5 M A&D Program Backlog $1.55 B $1.38 B Book to Bill 1.10 1.15 *Beginning Q
Slide 6: Quarterly Financial Results and Guidance
Quarterly Financial Results and Guidance Financial Metric (Non-GAAP)1 Q1’25 Q1’24 Year on Year Change Q2’25 Guide Revenues $648.7 M $570.1 M 13.8% $650-$690 M Operating Margin 10.5% 7.1% 3.4 pt N/A EBITDA Margin 15.3% 12.4% 2.9 pt N/A Diluted EPS $0.50 $0.28 $0.22 $0.49-$0.55 Cash Flow from Operatio
Slide 7: Additional Financial Guidance for Q2'25
Additional Financial Guidance for Q2’25 • Non-GAAP – SG&A expense of ~8.9% – R&D expense of ~1.2% – Interest expense of ~$11.4M – Interest income of ~$3.0M – Effective tax rate of 13%-17% – Diluted share count of 104M • GAAP – Depreciation expense of ~$28.1M – Amortization of intangibles of ~$9.2M –
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 Q1 25
Non-GAAP Reconciliations Q1 25 RECONCILIATIONS1 First Quarter 2025 2024 Non-GAAP gross profit reconciliation2: GAAP gross profit $ 130,972 $ 103,719 Add back item: Amortization of definite-lived intangibles 2,335 2,336 Stock-based compensation 2,673 2,029 Unrealized gain on commodity hedge (776) (75
Slide 11: Non-GAAP Reconciliations Q1 25
Non-GAAP Reconciliations Q1 25 RECONCILIATIONS1 First Quarter 2025 2024 Non-GAAP net income and EPS reconciliation4: GAAP net income $ 32,178 $ 10,466 Add back items: Amortization of definite-lived intangibles 9,224 13,765 Stock-based compensation 8,787 6,787 Non-cash interest expense 531 518 Unreal
Slide 12: Non-GAAP Reconciliations Q1 25
Non-GAAP Reconciliations Q1 25 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. Prior year results have been re