Slide 1: Fourth Quarter Fiscal 2022 Earnings Supplemental Slides
Fourth Quarter Fiscal 2022 Earnings SUPPLEMENTAL SLIDES AUGUST 4, 2022
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, and the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations and projections relatin
Slide 3: High-Performance IoT Semiconductor Solutions Leader
High-Performance IoT Semiconductor Solutions Leader Analog Mixed Signal IoT Product Best-in-Class Strong Revenue Semiconductors Applications Margin Profile Growth Broad Product IoT accounts for Non-GAAP Gross Q4’22 Revenue Portfolio 70% of total Margin 61% Q4 FY2022, increased 45% YoY revenues vs 39
Slide 4: Technology Leadership Across The Product Portfolio
Technology Leadership Across The Product Portfolio Wireless Connectivity Automotive Video Interface Virtual Reality Headsets PC Touchpad / Audio Processors Mobile Video Processors Biometric Fingerprint © 2022 Synaptics Incorporated 4
Slide 5: Record FY22 Financial Performance
Record FY22 Financial Performance • 3-year IoT revenue CAGR of 52% • Record GAAP and non-GAAP gross margin • Record non-GAAP diluted earnings per share and free cash flow IoT Revenue ($M) Gross Margin EPS $13.54 $1,101 3-yr CAGR – 52% 21+ points in 3 years 60.0% 3-yr CAGR – 50% 53.6% 54.2% $8.26 $61
Slide 6: Q4'22 Financial Highlights
Q4’22 Financial Highlights • Revenue of $476.3 million, above the midpoint of guidance range and up +45% YoY and +1% QoQ 45% YoY Revenue Growth $476M • IoT Revenue increased 87% YoY and accounted for 70% of total revenue • Record GAAP and non-GAAP gross margin – GAAP gross margin of 55.9% $328M – No
Slide 7: Q4'FY22 Business Highlights
Q4’FY22 Business Highlights • IoT products continue to grow rapidly; 87% growth year-over-year and 10% sequentially $63 • Solid growth in Video Interface business across core and new applications $81 • Automotive design-wins ramping across all Q4’FY22 geographies $476M • Softness in consumer-centric
Slide 8: Quarterly Revenue Trend
Quarterly Revenue Trend Revenue in $ millions $476 $470 $421 $373 $358 $328 $326 $328 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Note: As-reported, not proforma for any acquisition/divestiture activity over this timeframe © 2022 Synaptics Incorporated 8
Slide 9: Quarterly Gross Margin Trend
Quarterly Gross Margin Trend Non-GAAP Gross Margin GAAP Gross Margin 55.9% 61.1% 61.0% 54.0% 59.5% 53.2% 53.5% 58.0% 52.1% 57.5% 55.1% 47.7% 52.1% 49.7% 42.1% 41.0% Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Note: As-reported, not proforma for any
Slide 10: Quarterly Earnings Per Share Trend
Quarterly Earnings Per Share Trend Non-GAAP Earnings Per Share $3.87 GAAP Earnings Per Share $3.75 $3.26 $2.04 $1.71 $2.68 $1.59 $2.30 $1.36 $2.18 $2.03 $1.85 $0.99 $0.48 $0.35 $(0.08) Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Note: As-reported,
Slide 11: Q4'FY22 Financial Results
Q4’FY22 Financial Results $M (except EPS) Q4’21 Q3’22 Q4’22 QoQ YoY Revenue $327.8 $470.1 $476.4 1% 45% GAAP Gross Margin % 52.1% 54.0% 55.9% 190 bps 380 bps GAAP Operating Expenses $119.9 $165.7 $142.0 (14%) 18% GAAP EPS Diluted $0.48 $1.59 $2.04 28% 325% Non-GAAP Gross Margin % 57.5% 61.1% 61.0% -
Slide 12: Q4'FY22 Balance Sheet
Q4’FY22 Balance Sheet In Millions Q2’22 Q3’22 Q4’22 Cash & ST Investments $573.9 $754.9 $876.0 AR $312.2 $298.3 $322.1 Inventory $133.3 $145.9 $169.7 PP&E $56.9 $63.1 $62.9 Other $1,491.1 $1,435.8 $1,427.4 Total Assets $2,567.4 $2,698.0 $2,858.1 Current Liabilities (excluding debt) $365.2 $393.0 $45
Slide 13: Q1'FY23 Guidance
Q1’FY23 Guidance $M (except EPS) GAAP Non-GAAP Revenue $440M - $470 NA Gross Margin* 55.0% - 56.0% 60.5% - 61.5% Operating Expenses** $152 - $159 $102 - $105 EPS Diluted $1.35 - $1.65 $3.20 - $3.50 Revenue mix IoT 74% NA PC 16% NA Mobile 10% NA *Projected Non-GAAP gross margin excludes $24.0 million
Slide 14: Appendix
Appendix
Slide 15: Engineering Exceptional Experiences
Engineering Exceptional Experiences © 2022 Synaptics Incorporated 15
Slide 16: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables © 2022 Synaptics Incorporated 16
Slide 17: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued © 2022 Synaptics Incorporated 17