Slide 1: Second Quarter Fiscal 2021 Earnings Supplemental Slides
Second Quarter Fiscal 2021 Earnings Supplemental Slides February 4, 2021
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements give our
Slide 3: Q2FY21 Highlights
Q2FY21 Highlights Financial Highlights • Revenue above midpoint of guidance range • Record non-GAAP gross margin – Non-GAAP gross margin above the high-end of guidance range; six sequential quarters of gross margin improvement • Record non-GAAP net income • Record non-GAAP EPS • $71 million cash flo
Slide 4: Q2FY21 Financial Results
Q2FY21 Financial Results Year over Year Q1’19 Q2’20 Q1’18 Q2’21 Year over Year $M (except EPS) Actual Actual Actual Actual Delta$ Delta Delta%% Delta Revenue $388.3 $357.6 ($30.7) (8%) GAAP Net Income $19.8 $49.6 $29.8 151% GAAP EPS Diluted $0.58 $1.36 $0.78 134% Non-GAAP Net Income $70.1 $83.8 $13
Slide 5: Q2FY20 and Q2FY21 Results vs Q2FY21 Guidance
Q2FY20 and Q2FY21 Results vs Q2FY21 Guidance Q2’20 Q2’21 Q2’21 $M (except EPS) Actual Actual Guidance Revenue $388.3 $357.6 $340M - $370M Non-GAAP Gross Margin % 42.9% 52.1% 49.5% - 51.5% Non-GAAP Op Expenses $89.2 $89.9 $87M - $90M Non-GAAP EPS $2.04 $2.30 $1.95 - $2.25 GAAP Gross Margin % 41.0% 42
Slide 6: Second Quarter Fiscal 2021 Cash & Debt
Second Quarter Fiscal 2021 Cash & Debt $ Millions • Debt amounts presented above are as of the end of each quarter presented and represent the balances due to third parties and exclude discount & debt issuance cost adjustments as presented on our balance sheet. © 2021 Synaptics Incorporated 6
Slide 7: Second Quarter Fiscal 2021 Balance Sheet
Second Quarter Fiscal 2021 Balance Sheet Q4’20 Q1’21 Q2’21 Q2’21 In Millions Actual Actual Actual vs Q1’21 Cash & ST Investments $763.4 $243.9 $316.9 $73.0 AR $195.3 $227.8 $249.3 $21.5 Inventory $102.0 $114.6 $73.1 ($41.5) PP&E $84.3 $90.5 $93.6 $3.1 Other $548.8 $1,098.1 $1,059.3 ($38.8) Total Ass
Slide 8: Third Quarter Fiscal 2021 Guidance
Third Quarter Fiscal 2021 Guidance Q3’20 Q2’21 Q3’21 $M (except EPS) Actual Actual Guidance Revenue $328.1 $357.6 $310M - $340M Non-GAAP Gross Margin % 44.1% 52.1% 51.5% - 53.5% Non-GAAP Op Expenses $86.7 $89.9 $86M - $89M Non-GAAP EPS $1.49 $2.30 $1.75 - $2.05 GAAP Gross Margin % 41.3% 42.1% 43.5%
Slide 9: Revenue Trend
Revenue Trend Guidance Mid-Point $ Millions © 2021 Synaptics Incorporated 9
Slide 10: Non-GAAP Net Income & EPS Fiscal Quarter Trend
Non-GAAP Net Income & EPS Fiscal Quarter Trend Guidance Mid-Point See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures © 2021 Synaptics Incorporated 10
Slide 11: New Long-Term Financial Model
New Long-Term Financial Model FY21 New Long-Term FY20 Actual Prior Model Consensus Model Revenue $1,334M $1,300M +4-6% +8-10% Non-GAAP Gross Margin 44% 49% >50% 57% Non-GAAP Operating Margin 17% 23% ~20% 30% IoT % of Revenue 24% 41% 40% 55% Mobile % of Revenue 52% 33% 35% 25% PC % of Revenue 24% 26%
Slide 12: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables © 2021 Synaptics Incorporated 12
Slide 13: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued © 2021 Synaptics Incorporated 13
Slide 14: Synaptics
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