Cohu, Inc. · NASDAQ:COHU
Cohu — Investor Presentation (November 2020)
15 slides from Cohu's investor presentation, Nov 12, 2020
Slide 1: Cohu Investor Presentation
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Slide 2: Cautionary Statement Regarding Forward Looking Statements
| Cautionary Statement Regarding Forward Looking Statements | Forward Looking Statements: Certain statements contained inthis presentation may be considered forward-ooking statements within the meaning ofthe US. Private Secures Litigation Reform Actof995, including statements regarding market postio
Slide 3: Global Technology and Market Leader
| Global Technology and Market Leader ..in Semiconductor and PCB Test and Inspection Markets We deliver leading-edge solutions to enable a smarter, safer, and more connected future. mt © NASDAQ TTM Revenue a-year@)CAGR Recurring Revenue COHU $576M 21% ~40%'3) 4-Cohu
Slide 4: Business Update
Business Update * Q3 Non-GAAP Gross Margin 44% + Incremental revenue with ~40% fall-through to operating income * Reduction of Term Loan B debt by $17.3 million in Q3 *Q3 book-to-bill>4 Cohu
Slide 5: Q3'20 Orders by Segment
| Q3'20 Orders by Segment Aen 5% 5% 1% Mobili Automotive PCB Test Computing & ] Industrial & ff loT/loV& Network Medical | |} Optoelectronics -Mutiayer PCBs Hederaty irteconmect Fix Rigid FlexPCB lcsubatrates = Moiceuserinterface deem 4-Cohu
Slide 6: Expertise in 5G RF High Volume Manufacturing
| Expertise in 5G RF High Volume Manufacturing Test Cell Soluti: One-stop-shop for leading —EE edge integrated RF solutions . eae | accelerates ¥y gia 4 4 Tes ee avait Conte! nai 8 2 ., = a vise Eo ‘Semi Test Test Contactor Test Handler Soucy ighatnamp rene Noenber 2020 7J-Cohu Page 6
Slide 7: Financials
Financials
Slide 8: Recurring Provides a Strong Foundation
| Recurring Provides a Strong Foundation Recurring revenue is h mai less susceptible to seasonal an clical trends Revenue Distribution ®) TTM Allocation Test & Inspection | Systems: Handlers. asta mnts een September 6 208 tower 2 4Cohu
Slide 9: Business Model Delivers Strong Leverage
| Business Model Delivers Strong Leverage i} Business Model for FY20 Quarterly Revenue $150M $170M $190M $210M $235M | Gross Margin 43% 44% 45% 46% 48% | Operating Expenses‘) $52M $54M $57M $59M $64M | Adjusted EBITDA” 12% 15% 17% 20% 22% Non-GAAP EPS“ $0.16 $0.30 $0.45 $0.60 $0.75 Q Approximately 4
Slide 10: Q4'20 Outlook
| Q4'20 Outlook a a a Q4'20 Guidance Revenue $150.6M. $176 - $192M | Gross Margin 44.0% 44%- 45% | | Operating Expenses) $48.3M ~$51M | Adjusted EBITDA® 13.5% ~18% | (mid-point of guidance) Low end of revenue guidance considers some supply chain uncertainty caused by COVID-19 and risks associated wi
Slide 11: Balance Sheet
| Balance Sheet [$Million] Q3'20 Cash and Investments $171 Accounts Receivable $117 | Total Debt $346 Capital Additions $5.6 Cash Flow From Operations $14.7 $13.8 2 Q3 cash balance of 274M supports operational needs (~s80M), funding for production ramp and debt service Debt reduction s27M in Q3; del
Slide 12: Thank you
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Slide 13: Appendix
Appendix Use of Non-GAAP Financial Information: is presentation includes non-GAAP financial measures, includingnon-GAAP Gross Margin/Proft, Income and Income (adjusted earings) per share, Operating Income, ‘Operating Expense and Adjusted EBITDA that supplement the Company’s Condensed Consolidated St
Slide 14: GAAP to Non-GAAP Reconciliation
| GAAP to Non-GAAP Reconci ation aMonthstnding | aMonthstodine | aMonthsEofing exsaneceedi Sep2q buted | tun27, oibted | Sep26 diluted mses | _ moms | 20s Los Fem Continuing Operations-GAAP Sian89 § (025) |“ (9740) § (ox | “5 we § (038 Share based compensation ase om | 340s 008 Amertatin of purchase
Slide 15: GAAP to Non-GAAP Reconciliation
| GAAP to Non-GAAP Reconciliation beer 4-Cohu