Ichor Holdings · NASDAQ:ICHR
Ichor — Jefferies Semiconductor, IT Hardware & Communications Technology Conference 2026
21 slides from Ichor's conference presentation, Aug 25, 2026
Slide 1: Q3 2026 Investor Presentation
Q3 2026 Investor Presentation Jefferies Semiconductor, IT Hardware & Communications Technology Conference August 25, 2026 Ichor Proprietary 1
Slide 2: Forward-Looking Statements and Non-GAAP Financials
Forward-Looking Statements and Non-GAAP Financials This Presentation and the accompanying oral presentation include “forward‐looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding
Slide 3: Who Is Ichor?
Who Is Ichor? A Foundation of the Semiconductor Industry 25 Years of Driving Innovation and Enabling Semiconductor Industry Growth Ichor Proprietary 3
Slide 4: A Stronger, More Competitive Ichor
A Stronger, More Competitive Ichor Sources: TechInsights Yole Group Competitive Cost. High-Growth Markets. Expanding Margins. Cost Transformation Strong Secular Tailwinds Strategic Differentiation Driving a more competitive cost Well-positioned in Etch and Becoming a differentiated, high- structure
Slide 5: Cost Transformation
Cost Transformation Operational Excellence for a More Agile Ichor Global Footprint Cost Faster Ramps Realignment Management 35%+ 15%+ 45% Higher revenue per Material and build Shorter cycle time and square foot. cost reduction. faster product ramps. Efficient operations, competitive cost structure,
Slide 6: Technology Inflections
Technology Inflections Sources: TechInsights Yole Group Trends Driving Increased Need for Ichor Products Vertical Scaling Advanced Packaging AI, Power, Compute and Memory Density, Drivers Angstrom-level Precision Backside power and reduced memory latency Applications 3D-NAND, Gate-All Around, 3-D DR
Slide 7: Suppliers: Turning the Ocean Blue
Turning the Ocean Blue Moving Up the Value Curve, Focus on Innovation Value Active Process Control Integration + Passive Integration + Passive Components Integration Components + Flow Control Time Suppliers 5 4 2 0 Position Ichor to drive active process control to be THE leader in gas control segmen
Slide 8: Ichor Product Strategy
Ichor Product Strategy Gas Panel Vertical Integration Strategy Specialty Valves UHP Valves Flow Controllers TAM: $70M TAM: $340M TAM: $1.1B Fittings Weldments Seals TAM: $1.6B (OEM) TAM: $105M TAM: $500M $2B (IDM) Substrates Filters = Released = In Development TAM: $500M TAM: $200M Moving from ~10%
Slide 9: 10x SAM Expansion
10x SAM Expansion Sources: TechInsights Yole Group Management Estimates 2015-2025 2015 SAM 2025 SAM $25.6B $2.8B $3.8B $2.5B $1.6B $.5B $4.4B $2.0B $13.0B Gas/ Chem Delivery Weldments Gas/ Chem Delivery Weldments Components Non-SEMI Machining Grew SAM ~10x by expanding capabilities, new products and
Slide 10: Revenue and Margin Expansion
Revenue and Margin Expansion Driving Design Wins to Outgrow the Market Non-Semi Sub-Assemblies Critical Machining SAM: $1.6B+ Share: <15% SAM: $2.8B+ Share: <5% Machining SAM: $13B+ Share: <5% Components Gas/Chem Delivery SAM: $4.4B+ Share: <5% SAM: $3.8B+ Share: 30% Leverage expanded SAM and new ma
Slide 11: Strategic Focus
Strategic Focus Levers to Revenue and Margin Expansion Design Wins on Expanded SAM 10x SAM Expansion Strategic Product Differentiation, 75% Vertical Integration Target Vertical Capabilities Capitalize On Market 14-16% Tailwinds CAGR from 2024-2030* Product Cost 15% Management Material and Manufactur
Slide 12: Key Financial Strategies
Key Financial Strategies: Outgrow WFE and Drive Strong GM Flow-Through Outgrow the Industry Drive Gross Margin Improvement Key technology inflections Grow share in higher-margin driving increased gas/fluid delivery SAM components businesses Levered to high-growth segments including Increase content
Slide 13: Short Term Outlook
Short Term Outlook Q3’26 NON-GAAP GUIDANCE Q2’26 Q3’26 Actual Guidance (2) Revenue $294.8M $330M +/- $15M Recent Results Gross Margin (1) 14.1% 15% +/- 0.5% and Guidance Operating Expenses (1) $25.3M ~$25.5M Non-GAAP EPS (1) $0.34 $0.45 +/- $0.05 EBITDA(1) 7.2% ~9% (1) Non-GAAP, see Appendix for Q2’
Slide 14: Target Model with Significant Operating Leverage
Target Model with Significant Operating Leverage Significant Increases in Profitability Driven by Gross Margin Expansion Strategies Annual Results (Non-GAAP) (1) Target Model 2022 2023 2024 2025 Gross Margin 17% 13% 13% 12% 20%+ Operating Expenses 7% 11% 10% 10% ~7% Operating Margin 10% 3% 2% 2% 13%
Slide 15: Path to Gross Margin of 20%
Path to Gross Margin of 20% Long Range Plan 1% 20% 1% 1% 2% 15% $250M / 15% Market Share & Increased Vertical Integration Flow Controller $400M / 20% Revenue Ramp Non-Semi Mix Long Term Target Ichor Proprietary 15
Slide 16: Investment Summary: Why Ichor – Value Creation
Investment Summary Why Ichor – Value Creation Differentiated Strategy Investment Highlights • Strong balance sheet and financial discipline • Positioned to capture the Value semiconductor WFE ramp • Building a differentiated IP and product- Active Process based business model Control Integration + I
Slide 17: Appendix
Appendix Ichor Proprietary 17
Slide 18: GAAP to Non-GAAP Reconciliations
Ichor Holdings, Ltd. Fiscal Year 2026 GAAP to Non-GAAP Reconciliations 2021 2022 2023 2024 2025 Q1 Q2 (in thousands, except per-share amounts) Net sales $ 1,096,917 $ 1,280,069 $ 811,120 $ 849,040 $ 947,652 $ 256,068 $ 294,784 GAAP gross profit $ 177,480 $ 211,864 $ 103,396 $ 103,334 $ 87,775 $ 32,2
Slide 19: GAAP to Non-GAAP Reconciliations
Ichor Holdings, Ltd. Fiscal Year 2026 GAAP to Non-GAAP Reconciliations 2021 2022 2023 2024 2025 Q1 Q2 (in thousands, except per-share amounts) Net sales $ 1,096,917 $ 1,280,069 $ 811,120 $ 849,040 $ 947,652 $ 256,068 $ 294,784 GAAP operating income (loss) $ 81,014 $ 85,823 $ (10,895) $ (7,640) $ (39
Slide 20: GAAP to Non-GAAP Reconciliations
Ichor Holdings, Ltd. Fiscal Year 2026 GAAP to Non-GAAP Reconciliations 2021 2022 2023 2024 2025 Q1 Q2 (in thousands, except per-share amounts) Net sales $ 1,096,917 $ 1,280,069 $ 811,120 $ 849,040 $ 947,652 $ 256,068 $ 294,784 GAAP net income (loss) $ 70,899 $ 72,804 $ (42,985) $ (20,820) $ (52,781)
Slide 21: Thank you
Thank you NASDAQ: ICHR Ichor Proprietary 21