Universal Display Corporation · NASDAQ:OLED
Universal Display — Investor Presentation (May 2024)
27 slides from Universal Display's investor presentation, May 2024
Slide 1: OLED Investor Presentation
OLED INVESTOR PRESENTATION Updated: May 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED m
Slide 3: Universal Display Corporation (UDC) Overview
Universal Display Corporation (UDC) Overview Who We Are UDC (Nasdaq: OLED) is a leader in the OLED Pioneer Enabling Industry Growth research, development & commercialization of OLED technologies and materials for use in display and solid-state lighting Leading Global Supplier of Energy- Efficient PH
Slide 4: UDC: Strong Corporate Citizen
UDC: Strong Corporate Citizen UDC’s Energy-Efficient Diverse & Inclusive Workplace Diverse Board of Directors2 Phosphorescent Materials 100% UniversalPHOLED® emitters Geographic: from over 25 countries 40% female and 60% male2 save energy Gender: 22% female and 78% male1 Named a 2023 Champion of Boa
Slide 5: UDC's Global Footprint
UDC’s Global Footprint United States UDC HQ (NJ) Adesis, Inc. (DE) OVJP Corporation (CA) UDC Ventures LLC (NY) PPG (PA & OH) UDC China UDC HQ UDC Hong Kong UDC Ireland OLED Material Manufacturing Ltd (OM2) & PPG UDC Japan UDC Korea More Than Including more than UDC Taiwan 450 320 Employees Scientist
Slide 6: UniversalPHOLED = Energy Efficiency
UniversalPHOLED® = Energy Efficiency UDC’s patented and award-winning phosphorescent OLED technology and materials are integral to enabling low power consumption in OLED displays and lighting. Key Benefits of Phosphorescent Cornerstone: Phosphorescent OLED (PHOLED) Innovation Emitters Energy Efficie
Slide 7: UniversalPHOLED Energy Efficiency Innovation
UniversalPHOLED® Energy Efficiency Innovation 800 Smartphone Display Power Consumption 600 Current performance (2024) Red & green PHOLED w/ fluorescent blue Power (mW) 400 ~68% Energy consumption compared to 2015 Projected additional performance improvement Full red, green & blue PHOLED vs. Prior de
Slide 8: Phosphorescent OLED Carbon Savings
Phosphorescent OLED Carbon Savings Calculated assumptions There are at least 1.8 billion active OLED smartphones using UDC’s PHOLED materials and technology in the world today and, assuming: Average luminance at 600 Average use is 4 hours per day Power savings is 30% over LCD nits with 50% pixels on
Slide 9: UDC's Business Model
UDC’s Business Model Innovation & OLED Enabler Revenues Invention Device & License & Patent Licensing Architecture IP Royalty Fees Composition PHOLED Emitters & Hosts Material Sales of Matter IP 9
Slide 10: What Is an OLED?
What Is an OLED? • An Organic Light Emitting Diode is a series of organic thin films between two conductors • When electrical current is applied, bright light is emitted • OLEDs can be used for displays and lighting • OLEDs are not just thin and efficient - they can also be made flexible and transpa
Slide 11: OLED Display Market Potential
OLED Display Market Potential $70 $61.4 $60 $57.5 $51.7 $53.7 $49.8 $50 Revenue (in Billions) $42.7 $40 $30 852M 821M 793M $20 765M 736M 622M $10 $0 2023 2024 2025 2026 2027 2028 Mobile TV IT Wearables Other Unit numbers are for OLED smartphones only Source: Omdia OLED Display Market Tracker – Q4 20
Slide 12: OLED Display Panel Demand
OLED Display Panel Demand 28 25.5 24 23.1 Square Meters (in Millions) 20.7 20 18.9 17.3 16 9.1M 13.2 8.6M 12 8.1M 7.5M 7.2M 8 5.3M 4 0 2023 2024 2025 2026 2027 2028 Mobile TV IT Wearables Other Unit numbers are for OLED TVs only Source: Omdia OLED Display Market Tracker – Q4 2023 (April 2024) 12
Slide 13: Strong OLED Display Market Drivers
Strong OLED Display Market Drivers Lower Power Superior More Cost Usage Aesthetics Effective • RED Phosphorescence reduces • Improved image quality • Fewer manufacturing process power consumption by 25% • Thin and Light steps • Add GREEN: 45% cumulative • 180 degree viewing angle • Lower bill-of-mat
Slide 14: OLED Smartwatches & Smartphones
OLED Smartwatches & Smartphones Samsung Galaxy Watch6 Motorola Moto Watch 200 Honor Watch GS 4 Apple Watch Series 9 Xiaomi Watch 2 Garmin Forerunner 165 OPPO Reno11 F vivo V30 Lite Samsung Galaxy S24 iPhone 15 Pro Honor Magic6 Motorola Edge 50 Pro Google Pixel 8 Pro Tecno Pova 6 Meizu 21 Pro HUAWEI
Slide 15: More OLED Products
More OLED Products Apple Vision Pro LG OLED evo G4 Samsung S95D LG 4K Transparent OLED T TV PlayStation VR2 Apple iPad Pro Samsung Galaxy Tab KTC 27” Gaming LG 39" UltraGear ASUS ExpertBook B9 S9, S9+ and S9 Ultra Monitor OLED curved gaming OLED monitor 15
Slide 16: Automotive OLED Displays & Lighting
Automotive OLED Displays & Lighting 2025 Hyundai Genesis 2025 MINI Countryman SE EV BYD’s Yangwang U8 Premium Mercedes EQS GV80 Edition Hybrid OLED MBUX Hyperscreen 16
Slide 17: Form Factor: Flexible, Foldable, Rollable
Form Factor: Flexible, Foldable, Rollable Samsung Display Flex Note Asus Zenbook 17 Fold Google Pixel Fold Samsung Galaxy Z Extendable (CES 2024) Fold5 LG OLED R Rollable OLED TV Samsung Galaxy Z vivo X Fold2 OPPO Find N3 Xiaomi Mix Fold 3 Honor Magic V2 Tecno Phantom OnePlus Open Flip5 V Flip 17
Slide 18: LCD vs. OLED
LCD vs. OLED Conventional OLED Polarized Film Backlight Unit TFT Color Filter Display Polarized Film Cell 4mm Thin TFT+OLED+Refiner 15mm Thin Diffuser Sheet Prism Polarized Film Lower BOM (bill of materials) Better Performance, More Efficient Thinner and Flexible Form Factor Vivid Colors and Superio
Slide 19: Groundbreaking Organic Vapor Jet Printing (OVJP)
Groundbreaking Organic Vapor Jet Printing (OVJP) OLED or other Carrier gas in Organic Vapor Jet Printing enables deposition of material vapor out patterned organic films without a fine metal mask Nozzle array prints a series of parallel lines on substrate. OLED materials and substrate are the same a
Slide 20: Strong OLED Lighting Market Drivers
Strong OLED Lighting Market Drivers Energy-efficient & Highly desirable Form factor & low- environmentally color quality cost potential friendly • Low drive voltage • Wide range of CCT, high • Thin and lightweight • Low operating CRI possible • Transparent temperatures, cool to touch • Color tunable
Slide 21: OLED Lighting Around the World
OLED Lighting Around the World 21
Slide 22: Strong, Broad & Deep Patent Portfolio
Strong, Broad & Deep Patent Portfolio RGB • We develop and license enabling technologies Phosphorescent OLEDs that are at the heart of consumer OLED products Dry Printed (PHOLEDs) OLEDs Plasmonic worldwide, from AR/VR, smartwatches, (OVJP) PHOLED smartphones, IT (tablets, laptops, monitors), automot
Slide 23: Global Patent Portfolio
Global Patent Portfolio 6,000+ Worldwide Patents Issued & Pending China South Korea 794 857 Europe Taiwan 1,077 374 Japan United States 1,025 2,235 Map source: UDC figures as of May 30, 2023 23
Slide 24: Strategic Display & Lighting Partnerships
Strategic Display & Lighting Partnerships SEEYA TECHNOLOGY 24
Slide 25: Historical Financial Performance
Historical Financial Performance Revenue Income ($ in millions) $617 $600 $576 $210 $554 $203 $200 $184 $500 $429 $405 $160 $400 $138 $133 $300 $120 $200 $80 $100 $40 $- 2019 2020 2021 2022 2023 Royalty & License $150 $185 $219 $267 $238 $0 2019 2020 2021 2022 2023 OLED Materials $243 $230 $319 $331
Slide 26: Robust Capital Structure
Robust Capital Structure In thousands, except share data March 31, 2024 Cash, Cash Equivalents, Short-Term and Long-Term Investments* $838,198 Total Assets $1,683,715 Long-Term Debt -- A/P and Accrued Liability $54,940 Deferred Revenue $32,449 Shareholders’ Equity $1,484,900 Total Shares Outstanding
Slide 27: Company Summary
Company Summary Lighting up the OLED Revolution Comprehensive & Blue-Chip Customer OLED Leader Strong Financials Robust IP Base • Inventing, Developing and • $838M Cash, No Debt* • Largest Phosphorescent • Displays: Samsung, LG Commercializing OLED (PHOLED) Display, BOE, Tianma, • $17.60 in Cash/Sha