Diodes Incorporated · NASDAQ:DIOD
Diodes — Diodes Inc /Del/ — Q4 2024 Earnings Presentation
18 slides from Diodes's earnings presentation, Feb 11, 2025
Slide 1: Fourth Quarter 2024 Financial Results
Diodes Incorporated (DIOD) Plano, TX, USA Fourth Quarter 2024 Financial Results February 11, 2025 Exhibit 99.2
Slide 2: Safe Harbor Statement
Safe Harbor Statement 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 those in
Slide 3: About Diodes Incorporated
About Diodes Incorporated Vision: Profitability Growth to Maximize Shareholder Value Our Core Values: Integrity, Commitment, Innovation Diodes delivers analog and discrete power solutions through its high-quality semiconductor products to the world’s leading companies in the automotive, industrial,
Slide 4: Longer Term Corporate Objectives
Longer Term $B Corporate Objectives Goal 1: $1B Market Cap Goal 2: $1B Annual Revenue Goal 3: $1B Gross Profit Goal 4: $1B Profit Before Tax $1B Market Cap $1B Revenue $1B Gross Profit $1B PBT - 2010 - 2017 Next Target: $1B Gross profit Gross Margin: 40% Revenue: $2.5B
Slide 5: Targeted Market Segment
Targeted Market Segment Goal Automotive Connected driving, comfort/style/safety, electrification/powertrain Industrial Embedded systems, precision controls, medical, clean energy, machine to machine, robotics, motor control, and AIoT Consumer IoT: wearables, home automation, home appliances, smart i
Slide 6: Profitability Growth Track Record of Continued Outperformance
Profitability Growth Track record of Continued Outperformance Annual Revenue Gross Profit ($ in millions) ($ in millions) CAGR: 10% (2005 – 2024) CAGR: 10% (2005 - 2024)
Slide 7: Gross Margins and EPS
Gross Margins and EPS Gross Margins (%) Non-GAAP EPS ($) CAGR: 7.34% (2012 - 2024)
Slide 8: 4Q FY24 Highlights
4Q FY24 Highlights 4Q Revenue exceeded expectations and achieved over 5% growth YoY $322 million in cash and cash equivalents*; Total debt approx. $52 million * Cash and cash equivalents, restricted cash and short-term investments Point of Sales (POS) increased double digit in Asia in the second hal
Slide 9: 4Q FY24 Performance
4Q FY24 Performance $339.3M -3.1% Q-Q Revenue $110.9M GAAP Gross Profit - 6.0%Q-Q 32.7% -100 bps Q-Q GAAP Gross Margin $0.27 -37.2% Q-Q Non-GAAP EPS $12.5M -37.8% Q-Q Non-GAAP Net Income $40.7M EBITDA 12.0% of Revenue $81.8M Cash Flow from Ops $322M/$52M Strong Balance Sheet Cash*/Debt 24.1% of Reve
Slide 10: Revenue Profile for Fourth Quarter 2024
Revenue Profile for Fourth Quarter 2024 By End Market Computing Consumer Industrial Communications Automotive By Channel Distribution Direct By Region Asia Pacific Europe Americas 18% 15% 25% 23% 19% 65% 35% 80% 12% 8%
Slide 11: Quarterly Performance
Quarterly Performance Quarterly Gross Profit ($ Millions) Quarterly Revenue ($ Millions)
Slide 12: Income Statement – Fourth Quarter 2024
Income Statement – Fourth Quarter 2024 ($ in millions, except EPS) 4Q23 3Q24 4Q24 Net sales 322.7 350.1 339.3 Gross profit (GAAP) 112.5 118.0 110.9 Gross profit margin % (GAAP) 34.9% 33.7% 32.7% Net income (GAAP) 25.3 13.7 8.2 Net income (non-GAAP) 23.4 20.1 12.5 Diluted EPS (non-GAAP) 0.51 0.43 0.2
Slide 13: Balance Sheet
Balance Sheet ($ in millions) Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Cash* 348 329 322 Inventory 360 390 475 Current Assets 1,162 1,187 1,224 Total Assets 2,288 2,368 2,386 Total Debt 185 62 52 Total Liabilities 705 558 517 Total Equity 1,583 1,810 1,869 * Cash and cash equivalents, restricted cash
Slide 14: First Quarter 2025 Business Outlook
Revenue to be ~$323 million, +/- 3.0% GAAP gross margin of 32.5%, +/- 1% Non-GAAP operating expenses 30.0% of revenue, +/- 1%, which are GAAP operating expenses adjusted for amortization of acquisition-related intangible assets Net Interest income of ~$1.5 million Income tax rate to be 18.5%, +/- 3%
Slide 15: Investment Summary
Investment Summary 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 high-margin automotive,
Slide 16: Thank you
PXODES Analog and Discrete Power Solutions In ¢CORPORATED Thank you www.diodes.com
Slide 17: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income For the three months ended December 31, 2024 (in thousands, except per share data) (unaudited) Note: Included in GAAP and non-GAAP adjusted net income was approximately $5.3 million, net of tax, non-cash share-based compensation expense. Excluding
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation For the three months ended December 31, 2023 (in thousands, except per share data) (unaudited) Note: Included in GAAP and non-GAAP adjusted net income was approximately $5.9 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensa