Advanced Energy Industries, Inc. · NASDAQ:AEIS
Advanced Energy Industries — Q1 2026 Earnings Presentation
14 slides from Advanced Energy Industries's earnings presentation, May 4, 2026
Slide 1: Advanced Energy (AEIS) Q1 2026 Financial Results
Advanced Energy (AEIS) Q1 2026 Financial Results MAY 4, 2026
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements: Advanced Energy Industries, Inc.’s guidance and other statements herein or made on the conference call contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and S
Slide 3: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights REVENUE NON-GAAP GROSS MARGIN(1) OPERATING CASH FLOW (2) $511 million 40.1% ($6) million Up 26% YoY Up 220 bps YoY NON-GAAP EPS NON-GAAP OP MARGIN(1) TOTAL CASH $2.09 19.1% $700 million Up 70% YoY Up 560 bps YoY Net Cash³ of $131 million (1) Detailed explanations of non-
Slide 4: Q1 2026 Summary
Q1 2026 Summary Q1 2026 revenue and non-GAAP EPS(1) above the midpoint of guidance ▪ Revenue of $511 million grew 26% YoY, led by a record quarter in Data Center revenue that doubled YoY ▪ Non-GAAP operating income was a record $98 million; non-GAAP EPS of $2.09 increased 70% YoY Demand strengthenin
Slide 5: Q1 2026 Detail by Market
Q1 2026 Detail by Market Up 4% QoQ & Down 1% YoY Up 9% QoQ & Up 102% YoY ▪ Increasing our full year Semi outlook after ▪ Another quarter of record revenue customer forecasts strengthened ▪ Working closely with multiple customers on considerably in the quarter ($ in millions) next-gen technology, inc
Slide 6: Revenue by Market
Q1 2026 Revenue by Market ($ in millions) Q1 2026 Q4 2025 Q1 2025 QoQ YoY Semiconductor Equipment $219.4 $211.6 $222.2 3.7% -1.3% Data Center Computing $194.2 $177.9 $96.2 9.2% 101.9% Industrial & Medical $72.0 $78.2 $64.3 -7.9% 12.0% Telecom & Networking $25.4 $21.7 $21.9 17.1% 16.0% Total Revenue
Slide 7: Income Statement
Q1 2026 Income Statement ($ in millions) Q1 2026 Q4 2025 Q1 2025 QoQ YoY Revenue $511.0 $489.4 $404.6 4.4% 26.3% GAAP gross margin 39.3% 38.6% 37.2% - - GAAP operating expenses $132.6 $132.5 $119.9 - 10.6% GAAP operating margin from continuing ops 13.4% 11.6% 7.6% - - GAAP EPS from continuing ops $1
Slide 8: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow ($ in millions) Q1 2026 Q4 2025 Q1 2025 Total Cash decreased $92 million QoQ to $700 million ▪ Net cash(1) at $131 million Cash $699.5 $791.2 $723.0 ▪ Repurchased $0.3 million of common stock at an average Inventories $458.7 $411.2 $368.8 price of $209.36 per share Accoun
Slide 9: Q2 2026 Guidance
Q2 2026 Guidance Revenue $540 million ± $20 million GAAP EPS from continuing operations $1.54 ± $0.23 Non-GAAP(1) EPS $2.18 ± $0.25 (1) Detailed explanations of non-GAAP financials and reconciliations of GAAP to non-GAAP financials can be found at the end of this presentation
Slide 10: 2028 Convertible Note Dilution Table
2028 Convertible Note Dilution Table AEIS GAAP Non-GAAP(2) Share Price Net Shares Dilution Net Shares Dilution Price at Issuance $105.74 $120.00 Share Count Initial Conversion Price $137.46 $160.00 0.6 1.5% Basic share count 37.7 Conversion Price with Call Spread(2) $179.76 1.0 2.6% Diluted share co
Slide 11: Non-GAAP Measures
Non-GAAP Measures Detailed reconciliations of GAAP to non-GAAP financials can be found on the subsequent slides. These slides include measures, such as non-GAAP net income, non-GAAP operating income, and non-GAAP earnings per share (“EPS”) that are not prepared in accordance with accounting principl
Slide 12: Quarterly Non-GAAP Financials
Quarterly Non-GAAP Financials(1) Quarterly Trend (figures in $ millions, except percentage and EPS) All figures from Continuing Operations 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Revenue 425.0 415.5 410.0 405.3 327.5 364.9 374.2 415.4 4
Slide 13: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($ in millions, except percentage and $ per share)
Slide 14: Q2 2026 Reconciliation of GAAP to Non-GAAP Guidance
Q2 2026 Reconciliation of GAAP to Non-GAAP Guidance
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