Slide 1: 1st Quarter 2024 Earnings Release Supplemental Information
st 1 Quarter 2024 Earnings Release Supplemental Information May 1, 2024
Slide 2: Safe Harbor: Forward Looking Statements
Safe Harbor Forward Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, such as statements about our future plans, objectives, expectations, financial performa
Slide 3: Solid Q1 performance, above expectations
Q1 2024 Year-over-Year • Strong start to 2024 as we Solid Q1 performance, above expectations continue transformation to focus on high growth end markets. REVENUE Non-GAAP DILUTED NET CASH PROVIDED BY ($M) EPS* OPERATING ACTIVITIES • Revenue was up year-over-year ($) ($M) driven by double digit growt
Slide 4: Q1 2024 Segment Performance: MedTech & Specialty Audio
Q1 2024 Segment Performance MedTech & Specialty Audio REVENUE Non-GAAP GROSS PROFIT MARGIN* • Revenue is up versus the ($M) (%) year ago period on increased demand in the hearing 57.1 54.8 health market as customer inventories have returned to 45.5 43.5 normal levels. • Non-GAAP Gross Profit Margin
Slide 5: Q1 2024 Segment Performance: Precision Devices
Q1 2024 Segment Performance Precision Devices REVENUE Non-GAAP • Revenue up year-over-year GROSS PROFIT MARGIN* driven by the acquisition of ($M) (%) Cornell partially offset by lower shipments into the 46.9 distribution and industrial 74.3 end markets. 36.1 53.7 • Non-GAAP Gross Profit Margin down
Slide 6: Q1 2024 Segment Performance: Consumer MEMS Microphones
Q1 2024 Segment Performance Consumer MEMS Microphones REVENUE Non-GAAP • Revenue increased year- GROSS PROFIT MARGIN* over-year due to increased ($M) (%) consumer demand and share 26.2 gain in mobile, ear and 65.0 compute markets. 21.7 45.1 • Non-GAAP Gross Profit Margin increased year-over- year ba
Slide 7: Outlook: Q2 2024 Guidance
Outlook Q2 2024 Guidance GAAP ADJUSTMENTS NON-GAAP Revenue $199 to $209 million — $199 to $209 million Diluted earnings per share $0.08 to $0.12 $0.14 $0.22 to $0.26 Net cash provided by operating activities $20 to $30 million — $20 to $30 million Q2 2024 GAAP results are expected to include approxi
Slide 8: Appendix
« knowles Appendix
Slide 9: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures Quarter Ended March 31, (in millions, except per share amounts) 2024 2023 Revenues $ 196.4 $ 144.3 Gross profit $ 69.9 $ 53.8 Notes: Gross profit margin 35.6 % 37.3 % (1) Stock-based compensation expense 0.5 0.5 Production tran
Slide 10: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures Quarter Ended March 31, (in millions, except per share amounts) 2024 2023 Notes: Net earnings (loss) $ 2.5 $ (5.2) (5) The non-GAAP reconciling adjustments are those adjustments made to Interest expense, net 4.4 0.8 reconcile E
Slide 11: Historical Segment Data
Historical Segment Data Precision Devices MedTech & Specialty Audio Consumer MEMS Microphones Quarter Ended Quarter Ended Quarter Ended March 31, December 31, September 30, June 30, March 31, March 31, December 31, September 30, June 30, March 31, March 31, December 31, September 30, June 30, March
Slide 12: Historical Segment Data
Historical Segment Data Precision Devices MedTech & Specialty Audio Consumer MEMS Microphones Quarter Ended Quarter Ended Quarter Ended March 31, December 31, September 30, June 30, March 31, March 31, December 31, September 30, June 30, March 31, March 31, December 31, September 30, June 30, March
Slide 13: Reconciliation of Segment EBIT to Consolidated Net Earnings
Reconciliation of Segment EBIT to Consolidated Net Earnings Quarter Ended March 31, December 31, September 30, June 30, March 31, (in millions) 2024 2023 2023 2023 2023 Earnings (loss) before interest and income taxes Precision Devices $ (2.1) $ 3.4 $ 6.1 $ 4.8 $ 10.7 MedTech & Specialty Audio 22.7
Slide 14: Reconciliation of Net Debt
Reconciliation of Net Debt March 31, 2024 (in millions) Current maturities of long-term debt $ 48.0 Long-term debt 245.2 Total debt 293.2 Less: Cash and cash equivalents (122.1) Net debt $ 171.1 14
Slide 15: Thank you
Thank you 15