Seagate Technology Holdings Plc · NASDAQ:STX

Seagate Technology — Q2 2026 Earnings Presentation

14 slides from Seagate Technology's earnings presentation, Jan 27, 2026

  1. Slide 1: Supplemental Financial Information Q2FY26

    SUPPLEMENTAL FINANCIAL INFORMATION Q2FY26 JANUARY 27, 2026

  2. Slide 2: Safe Harbor Statement and Use of Non-GAAP Financial Information

    Safe Harbor Statement and Use of Non-GAAP Financial Information This document and our other communications regarding our quarterly financial results contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide curre

  3. Slide 3: Q2FY26 Financial Highlights

    Q2FY26 Financial Highlights Delivered strong Q2FY26 results1 setting new company records Q2FY26 across key metrics Revenue $2.83B o Revenue up 22% YoY, exceeding the high-end of our guidance range, driven by continued strong Data Center market demand Gross Margin (non-GAAP) 42.2% o Gross margin of 4

  4. Slide 4: Markets and Technology Highlights

    Markets and Technology Highlights • Hard Drive exabyte shipments of 190EB, up 26% YoY on similar number of units • Average nearline TB/drive up ~22% YoY as customers transition to higher capacity drives to support demand growth • Data Center revenue increased 28% YoY to $2.2B, supported by ongoing d

  5. Slide 5: Quarterly Financial Trends

    Quarterly Financial Trends Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 QoQ YoY 1 Results (non-GAAP) Revenue ($M) 2,325 2,160 2,444 2,629 2,825 7% 22% Gross Margin % 35.5% 36.2% 37.9% 40.1% 42.2% 2.1 ppt 6.7 ppt Operating Expenses ($M) 287 274 286 291 290 0% 1% Operating Margin % 23.1% 23.5% 26.2% 29.0% 31.9%

  6. Slide 6: Quarterly Financial Trends Continued

    Quarterly Financial Trends Continued Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 QoQ YoY Revenue by End Market ($M) 2,325 2,160 2,444 2,629 2,825 7% 22% Data Center1 1,736 1,615 1,863 2,114 2,224 5% 28% As a % of total revenue 75% 75% 76% 80% 79% -1 ppt 4 ppt Edge IoT1 589 545 581 515 601 17% 2% As a % of to

  7. Slide 7: Guidance Q3FY26

    Guidance Q3FY26 Q3FY26 Revenue $2.90 billion ± $100 million Operating Margin1 (non-GAAP) Approaching mid-thirties % range of revenue Diluted Earnings Per Share1,2 (non-GAAP) $3.40 ± $0.20 At the mid point of the guidance3: o Operating Expense (non-GAAP) expected to be ~$290 million o Tax Expense (no

  8. Slide 8: Debt Capital Structure

    Debt Capital Structure o $2.3B Liquidity1, $1.0B cash, $1.3B revolving credit facility o $4.5B Debt2, weighted average interest rate of 6.1%, weighted average maturity of ~5 years o Link to Illustrative Table of Potential Dilutive Impact of Exchangeable Senior Notes due 2028 Debt Maturity as of Q2FY

  9. Slide 9: We Build Value in a Data-Driven World

    We Build Value in a Data-Driven World Capacity Leadership for the AI Era: Right data, right place, right time ‘Limitless creation’: Enterprises and 32TB CMR Exos, SkyHawk AI and the GenAI boom At scale, tiering brings layers of advantage IronWolf Pro Hard Drives Now Two industry experts offer insigh

  10. Slide 10: Reconciliation Tables

    Reconciliation Tables Seagate | 10

  11. Slide 11: Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit

    Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit ($M) Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 GAAP Gross Profit $ 812 $ 760 $ 914 $ 1,037 $ 1,176 Amortization of acquired intangible assets — — — 3 2 Purchase order cancellation fees — (3) (5) — — Restructuring and other, net — 10 3 — — Share-b

  12. Slide 12: Reconciliation of GAAP Net Income to Non-GAAP Net Income

    Reconciliation of GAAP Net Income to Non-GAAP Net Income ($M) Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 GAAP Net Income $ 336 $ 340 $ 488 $ 549 $ 593 Acquisition-related charges — 5 2 1 — Amortization of acquired intangible assets — — — 3 2 Net gain from business divestiture — (8) — — — Net loss from debt

  13. Slide 13: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow

    Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow ($M) Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Net Cash Provided by Operating Activities $ 221 $ 259 $ 508 $ 532 $ 723 Acquisition of property, equipment and leasehold improvements (71) (43) (83) (105) (116) Free Cash Flow $ 150

  14. Slide 14: www.seagate.com

    OQ) seacate www.seagate.com

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