Slide 1: Second Quarter 2024 Financial Results
Second Quarter 2024 Financial Results Diodes Incorporated (DIOD) Plano, TX, USA August 8, 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement Page 1 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from th
Slide 3: About Diodes Incorporated
About Diodes Incorporated Page 2 Diodes delivers analog and discrete power solutions through its high-quality semiconductor products to the world’s leading companies in the automotive, industrial, computing, consumer electronics, and communications markets 65 32 ~8400 Vision: Years in Consecutive ye
Slide 4: Longer Term $B Corporate Objectives
Longer Term $B Corporate Objectives Page 3 ▪ Goal 1: $1B Market Cap ▪ Goal 2: $1B Annual Revenue ▪ Goal 3: $1B Gross Profit $1B PBT ▪ Goal 4: $1B Profit Before Tax 2025+ Target: $1B Gross Profit $1B Gross profit 2025+ Gross Margin: 40% Revenue: $2.5B $1B Revenue - 2017 $1B Market Cap - 2010
Slide 5: Targeted Market Segment Goal
Targeted Market Segment Goal Page 4 Automotive ▪ Connected driving, comfort/style/safety, ~40% of electrification/powertrain revenue Industrial (41% for Q2 2024) ▪ Embedded systems, precision controls, medical, clean energy, machine to machine, motor control, and AIoT Consumer ▪ IoT: wearables, home
Slide 6: Profitability Growth
Profitability Growth Page 5 Track record of Continued Outperformance Annual Revenue ($ in millions) Gross Profit ($ in millions)
Slide 7: Gross Margins and EPS
Gross Margins and EPS Page 6 Gross Margins (%) Non-GAAP EPS ($)
Slide 8: 2Q FY24 Highlights
2Q FY24 Highlights Page 7 Revenue increased 5.9% sequentially, above mid-point of guidance Automotive and Industrial totaled 41% of product revenue, ninth consecutive quarter exceeding 2025 target model of 40% Global Point of Sales (POS) increased over 7% sequentially $277 million in cash and cash e
Slide 9: 2Q FY24 Performance
2Q FY24 Performance Page 8 Revenue GAAP Gross Profit GAAP Gross Margin Non-GAAP EPS $320M $107.4M 33.6% $0.33 +5.9% Q-Q +7.8% Q-Q +60 bps Q-Q +17.8% Q-Q Non-GAAP EBITDA Cash Flow from Ops Strong Balance Sheet Net Income $15.4M $41.1M $14.4M $277M/$47M Cash*/Debt +18.5% Q-Q 12.8% of Revenue 4.5% of R
Slide 10: Revenue Profile for Second Quarter 2024
Revenue Profile for Second Quarter 2024 Page 9 By Channel By Region Asia Pacific Direct 77% 37% Europe 63% 8% 15% Americas Distribution Automotive By End Market Consumer 18% Industrial 19% 23% 14% Communications 26% Computing
Slide 11: Quarterly Performance
Quarterly Performance Page 10 Quarterly Revenue ($ Millions) Quarterly Gross Profit ($ Millions)
Slide 12: Income Statement – Second Quarter 2024
Income Statement – Second Quarter 2024 Page 11 ($ in millions, except EPS) 2Q23 1Q24 2Q24 Net sales 467.2 302.0 319.8 Gross profit (GAAP) 195.4 99.6 107.4 Gross profit margin % (GAAP) 41.8% 33.0% 33.6% Net income (GAAP) 82 14.0 8.0 Net income (non-GAAP) 73.3 13.0 15.4 Diluted EPS (non-GAAP) 1.59 0.2
Slide 13: Balance Sheet
Balance Sheet Page 12 ($ in millions) Dec 31, 2022 Dec 31, 2023 June 30, 2024 Cash* 348 329 277 Inventory 360 390 462 Current Assets 1,162 1,187 1,220 Total Assets 2,288 2,368 2,361 Total Debt 185 62 47 Total Liabilities 705 558 509 Total Equity 1,583 1,810 1,852 * Cash and cash equivalents, restric
Slide 14: Third Quarter 2024 Business Outlook
Third Quarter 2024 Business Outlook Page 13 ▪ Revenue to be ~$346 million, +/- 3.0% ▪ Shares used to calculate diluted EPS represents 8.2% sequential increase at approximately 46.6 million the mid-point ▪ Amortization of $3.1 million, after tax, for ▪ GAAP gross margin of 34%, +/- 1% previous acquis
Slide 15: Investment Summary
Investment Summary Page 14 ▪ Vision: Expand shareholder value ▪ Mission: Profitability growth to drive 20%+ operating profit ▪ Next Strategic Goal: $1B gross profit ▪ Tactics: ▪ Total system solutions sales approach and content expansion driving growth ▪ Focus on key accounts ▪ Increased focus on hi
Slide 16: Thank you
1n CORPORATE D PIODES | Analog and Discrete Power Solutions Thank you www.diodes.com
Slide 17: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income (in thousands, except per share data) For the three months ended June 30, 2024 Other (unaudited) Operating (Income) Income Tax Expenses Expense Provision Net Income Per-GAAP $ 8,000 Diluted earnings per share (per-GAAP) $ 0.17 Adjustments to reconc
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation For the three months ended June 30, 2023 (in thousands, except per share data) Other (unaudited) Operating (Income) Income Tax Expenses Expense Provision Net Income Per-GAAP $ 82,020 Diluted earnings per share (per-GAAP) $ 1.77 Adjustments to reconcile net income to n