Kulicke And Soffa Industries, Inc. · NASDAQ:KLIC
Kulicke And Soffa Industries — Q3 2024 Earnings Presentation
15 slides from Kulicke And Soffa Industries's earnings presentation, Aug 7, 2024
Slide 1: Quarterly Earnings Review Q3F24
Kulicke & Soffa Nasdaq: KLIC Quarterly Earnings Review Q3F24 Ended June 29, 2024 August 7, 2024 1
Slide 2: Safe Harbor
Earnings Review Safe Harbor In addition to historical statements, this presentation contains statements relating to future events and our future results based on management’s expectations as of August 7, 2024. These statements are “forward- looking” statements within the meaning of the Private Secur
Slide 3: Q3F24 Update: Continued Execution of Growth Initiatives
Q3F24 Update Continued Execution of Growth Initiatives Extending TCB Leadership Q3F24 Results & Commentary US-Joint Consortium Membership Revenue $181.7M • Third “Joint” Consortium Globally Non-GAAP Net Income $19.3M • First in US, after “Joint” and “Joint2” in Japan EPS $0.22 • US-Based Development
Slide 4: Q3F24 Revenue Composition
Revenue per quarter Q3F24 Revenue Composition 5Yr Avg = quarterly average of preceding five fiscal years As a percent of total revenue By End Market General Semi LED Auto & Industrial Memory APS 300 80% 20% 40% 20% 30% 50 50 50 50 200 38 25 25 25 25 100 89 32 14 8 0 —% 0 —% 0 —% 0 —% 0 —% 5 Yr 3Q23
Slide 5: Q3F24 Financial Results
Q3F24 Financial Results $181.7M Gradual Improving Core Up 5.6% Q/Q Market Environment $69.2M Up $2.2M Q/Q OpEx Focus Enhances Profitability 9.1% Q3F24 Repurchase Activity Up 18% over Q224 $0.35 Up 64% over Q1F24 *Please see Non-GAAP Reconciliation 5
Slide 6: Income Statement
Income Statement Q3F24 Summary Items $Millions, except %, EPS, and share count Q3F23 Q2F24 Q3F24 Q/Q Y/Y Revenue $190.9 $172.1 $181.7 $9.6 $(9.2) Gross Margin 47.1% 9.6% 46.6% 3,700 bps (50) bps Operating Expenses $94.5 $121.6 $76.5 $(45.1) $(18.0) Operating Income $(4.5) $(105.2) $8.3 $113.5 $12.8
Slide 7: Balance Sheets & Cash Flow
Balance Sheets & Cash Flow Q3F24 Summary Items $Millions Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Accounts and other Receivable $198.1 $158.6 $184.4 $194.8 $200.3 Inventory $228.0 $217.3 $236.6 $180.5 $175.6 Accounts Payable $52.9 $49.3 $58.7 $51.5 $52.1 Net Cash* $515.0 $577.9 $528.4 $469.0 $435.9 Working Cap
Slide 8: Outlook
Outlook Q4F24 $180M Signs of Coordinated End +/- $10M Market Expansion $69.0M +/- 2% Additional TCB Milestones + Adoption Anticipated 47% +/- 100 bps Opportunistic Repurchases Continue $0.35 +/- 10% 8 *Please see Non-GAAP Reconciliation for composition of Non-GAAP guidance items.
Slide 9: Earnings Review Q&A
Earnings Review Q&A For additional information investor.kns.com investor@kns.com
Slide 10: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of U.S. GAAP to Non-GAAP Income from Operations and Operating Margin (In thousands, except percentages) (Unaudited) Three months ended June 29, 2024 July 1, 2023 March 30, 2024 Net revenue $ 181,650 $ 190,917 $ 172,074 U.S. GAAP income from operations 8,277 (4
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Margin and U.S. GAAP net income per share to Non-GAAP net income per share (In thousands, except percentages and per share data) (Unaudited) Three months ended June 29, 2024 July 1, 2023 March 30,
Slide 12: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Margin and U.S. GAAP net income per share to Non-GAAP net income per share (In thousands, except percentages and per share data) (Unaudited) Three months ended June 29, 2024 July 1, 2023 March 30,
Slide 13: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of U.S. GAAP Cash provided by Operating Activities to Non-GAAP Adjusted Free Cash Flow (In thousands, except percentages) (unaudited) Three months ended June 29, July 1, 2024 2023 March 30, 2024 U.S. GAAP net cash provided by / (used in) by operating activitie
Slide 14: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of U.S. GAAP to Non-GAAP Outlook (In millions, except per share data) (Unaudited) Fourth quarter of fiscal 2024 ending September 28, 2024 GAAP Outlook Adjustments Non-GAAP Outlook $180 million $180 million Net revenue — +/- $10 million +/- $10 million $76.5 mi
Slide 15: Kulicke & Soffa
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