Slide 1: Second Quarter 2025 Financial Results
Second Quarter 2025 Financial MKS Inc. August 7, 2025 Results
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financi
Slide 3: Notes on Presentation
Notes on Presentation Use of Non-GAAP Financial Measures This presentation includes financial measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”). These Non- GAAP financial measures should be viewed in addition to, and not as a subst
Slide 4: Q2 2025 Results: Strong revenue and solid profitability
Q2 2025 Results: Strong revenue and solid profitability Q2 2025 Q2 2025 Q2 2025 Q2 2025 $973M 46.6% $240M $1.77 REVENUE NON-GAAP ADJUSTED NON-GAAP GROSS MARGIN EBITDA NET EARNINGS PER DILUTED SHARE ● Revenues above high end of guidance due to increased demand in Semiconductor and Electronic & Packag
Slide 5: Semiconductor
Semiconductor Q2 Highlights Business Trends Guidance Q2 2025 Q/Q CHANGE +5% Q3 2025 $432M Y/Y CHANGE +17% $405M+/- $15M REVENUE Y/Y CHANGE1 +16% REVENUE Excluding FX ● Revenue above high end of guidance range ● Q3’25 revenue projected to moderate vs Q2’25 and increased sequentially due to strong NAN
Slide 6: Electronics & Packaging
Electronics & Packaging Q2 Highlights Business Trends Q/Q CHANGE 5% Guidance Q2 2025 Q3 2025 $266M Y/Y CHANGE +16% $285M+/- $10M REVENUE Y/Y CHANGE1 +14% REVENUE Excluding FX & Palladium ● Increased device complexity driven by AI and ● Revenue well above high end of guidance advanced packaging appl
Slide 7: Specialty Industrial
Specialty Industrial Q2 Highlights Business Trends Q/Q CHANGE 2% Guidance Q2 2025 Q3 2025 $275M Y/Y CHANGE -5% $270M+/- $15M REVENUE Y/Y CHANGE1 -6% REVENUE Excluding FX & Palladium ● Revenue slightly above midpoint of guidance ● Leverages our proprietary technologies and and higher sequentially fr
Slide 8: Q2'25 Revenue & Select Financial Measures
Q2’25 Revenue & Select Financial Measures Y/Y Change Q2’25 SUMMARY Excl. FX and ● Revenue above high end of guidance driven by Q2'25 Q1'25 Q2'24 Pd1 Semiconductor $432M $413M $369M 16% demand growth in Semiconductor and Electronics & Electronics & Packaging $266M $253M $229M 14% Packaging markets Sp
Slide 9: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q2’25 SUMMARY Q2'25 Q1'25 Cash and Cash Equivalents $674M $655M ● Strong free cash flow of $136 million Trade Accounts Receivable, Net $649M $639M ● Liquidity of about $1.3 billion, consisting of $674 Inventories $918M $894M million of cash and cash equivalents and an undra
Slide 10: Outlook
Outlook Outlook Q3'25 Q2'25 Actual Revenue $960M +/- $40M $973M ● Revenue outlook by end-market: Non-GAAP Financial Measures ‒ Semiconductor – $405M +/- $15M Gross Margin 46.5% +/- 100 bps 46.6% Operating Expenses $252M +/- $5M $251M ‒ Electronics & Packaging – $285M +/- $10M Operating Income $195M
Slide 11: Strong execution in dynamic environment with cost discipline
Strong execution in dynamic environment with cost discipline ● Strong first half execution and financial results ● Maintaining cost discipline and focused on strong cash generation to support continued de-leveraging ● Key provider of enabling technologies that solve our customers’ most difficult cha
Slide 12: Q&A
Q&A
Slide 13: Q2'25 Revenue
Q2’25 Revenue Q2’25 Specialty Industrial 28% Semi 44% Electronics & Packaging 27% Consumables & Service 41% Q2'25 vs Q2'24(1) Change Total Excluding Q2'25 Q1'25 Q2'24 Change FX Pd FX & Pd Semiconductor $ 432 $ 413 $ 369 17% 1% - 16% Electronics & Packaging 266 253 229 16% 2% 0% 14% Specialty Industr
Slide 14: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q3'25 Q2'25 Q1'25 Q2'24 Net income $ 67 $ 62 $ 52 $ 23 Acquisition and integration costs — — — 2 Restructuring and other 4 5 16 2 Amortization of intangible assets 62 62 60 61 Loss on extinguishment of debt 2 2 3 38 Amortization of debt issuance costs 4 5
Slide 15: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q3'25 Q2'25 Q1'25 Q2'24 Operating expenses $ 318 $ 318 $ 332 $ 292 Acquisition and integration costs — — — 2 Restructuring and other 4 5 16 2 Amortization of intangible assets 62 62 60 61 Fees and expenses related to amendments to the Term Loan Facility —
Slide 16: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q3'25 Q2'25 Q1'25 Q2'24 Net income $ 67 $ 62 $ 52 $ 23 Interest expense, net 49 51 50 74 Other (income) expense, net 1 10 (1) (7) Provision (benefit) for income taxes 9 10 7 (1) Depreciation 26 26 25 25 Amortization of intangible assets 62 62 60 61 Stock-b
Slide 17: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q2'25 Q1'25 Q2'24 Net cash provided by operating activities $ 165 $ 141 $ 122 Purchases of property, plant and equipment (29) (18) (26) Free cash flow $ 136 $ 123 $ 96 Q2'25 Q1'25 Q2'24 Free cash flow $ 136 $ 123 $ 96 Cash paid for interest 56 42 77 Tax ef
Slide 18: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q2'25 Q1'25 Income Before Provision for Effective Tax Income Before Provision for Effective Tax Income Tax Income Taxes Rate Income Tax Income Taxes Rate GAAP $ 72 $ 10 13.6% $ 59 $ 7 12.3% Restructuring and other 5 — 16 — Amortization of intangible assets
Slide 19: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ reported GAAP results, and may be different from Non-GAAP financial