Slide 1: Third Quarter Fiscal 2022 Earnings
Third Quarter Fiscal 2022 Earnings July 27, 2022
Slide 2: Note Regarding Forward-Looking Statements
Note Regarding Forward-Looking Statements In addition to historical information, this document and the conference call that it accompanies contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding our growth opportuni
Slide 3: Q3FY22 Highlights
Q3FY22 Highlights 3
Slide 4: Third Quarter Fiscal 2022 Highlights
Third Quarter Fiscal 2022 Highlights EPS (1) Exceeded High End of Guidance Range (2) , With >50% Year-Over-Year Growth Revenues YoY Non-GAAP(3) Revenue Growth GAAP EPS Non-GAAP EPS $10.9B 37% $3.29 $2.96 QCT QTL Other Revenues of Increased EBT by Revenues of Returned $9.4B 67% $1.5B $1.3B Announcing
Slide 5: Q3FY22 QCT Highlights Strong Growth
Revenues Q3FY22 QCT Highlights Handsets • Revenues on track to grow slightly below 50% YoY in FY22(1), driven by increased $6.1B processor content per device, and expansion of our addressable market. Strong Growth YoY Across All Revenue Streams RF front-end $1.0B • Expanding solutions beyond smartph
Slide 6: Financial Results and Guidance
Financial Results and Guidance As of July 27, 2022 Quarterly Results and Guidance Q3FY22 Guidance(1) Q3FY22 Results Q4FY22 Guidance(2) Revenues $10.5B - $11.3B $10.9B $11.0B - $11.8B Non-GAAP diluted EPS $2.75 - $2.95 $2.96 $3.00 - $3.30 Non-GAAP operating expenses(3), sequential quarter change Incr
Slide 7: Q3FY22 Strong Quarter Across Key Metrics
Q3FY22 Revenues EBT EPS Strong Quarter Across Key +37% +53% +54% Non-GAAP Metrics $10.9B $3.9B $2.96 $8.0B $2.5B $1.92 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 7
Slide 8: Q3FY22 Strong QCT Growth
Q3FY22 QCT QTL Revenues EBT Revenues EBT Strong QCT Growth +45% +67% +2% +3% $9.4B $3.0B $1.5B $1.5B $6.5B $1.1B $1.8B $1.1B Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 8
Slide 9: Q3FY22 Strong Growth Across All QCT Revenue Streams
Q3FY22 Handsets RF front-end Automotive IoT Strong Growth Across All +59% +9% +38% +31% QCT Revenue Streams $6.1B $1.8B $1.0B $1.4B $1.0B $350M $3.9B $253M Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 9
Slide 10: IoT Revenue Stream
IoT Revenue Stream Connectivity | High performance, low power | On-device intelligence Consumer Edge Networking Industrial Compute 5G wireless fiber Retail XR Wearables Wi-Fi access points Smart city Energy Consumer electronics vRAN infrastructure Manufacturing 10
Slide 11: IoT Revenue Diversified Revenue Stream
IoT Revenue Diversified Revenue Stream Leveraging processor and connectivity(2) technologies FY22(1) Revenue Breakdown On track to achieve Investor Day target: Bluetooth & Wi-Fi only Up to $9B Consumer Edge Networking Revenues by FY24 (1) By By Category Technology 4G/5G Connected Processor Industria
Slide 12: Snapdragon 8+ Gen 1 – Technology Portfolio
Snapdragon 8+ Gen 1 – Technology Portfolio Processor Leadership across processor and connectivity technologies CPU GPU AI Memory DSP Increasing capabilities in each core Camera Audio Video Security Sensor across each new generation of products Hub Connectivity Processor technologies increasingly dri
Slide 13: Snapdragon premium tier roadmap
Snapdragon Snapdragon 8 series total die size premium tier Normalized to 7nm(1) roadmap Processor technologies >15% CAGR increasingly driving content and revenue growth Processor Technologies Connectivity Technologies (2) 2021 2022e 2023e 2024e 1.) Normalized to 7nm over a consistent area; internal
Slide 14: Key Announcements
Key Announcements 14
Slide 15: Qualcomm and Samsung Extend and Expand Broad Strategic Partnership
Qualcomm and Samsung Extend and Expand Broad Strategic Partnership Reinforces the Companies’ track record of success and reaffirms commitment to expanding technology leadership and delivering the world’s best device experiences Extension of patent licensing Snapdragon Platforms to Power agreement Fu
Slide 16: Qualcomm AI Stack: Leadership in Artificial Intelligence at the Connected Intelligent Edge
Key Announcement Qualcomm AI Stack: Leadership in Artificial Intelligence at the Connected Intelligent Edge New Unified Qualcomm® AI Stack Portfolio Revolutionizes Developer Access and Extends AI Leadership Across the Connected Intelligent Edge – link • Qualcomm AI Stack unifies our best-in-class AI
Slide 17: QCT RF Front-End: Expanding RF Front-End leadership to Wi-Fi and Bluetooth
Key Announcement QCT RF Front-End: Expanding RF Front-End leadership to Wi-Fi and Bluetooth® in Automotive and IoT Qualcomm’s New Wi-Fi 7 Front-End Modules Further Expand its RF Front-End Solutions Beyond Smartphones – link • Building on our One Automotive Technology Roadmap and leading position in
Slide 18: QCT Automotive: Expanding ADAS design-win pipeline with CARIAD / Volkswagen
Key Announcement QCT Automotive: Expanding ADAS design-win pipeline with CARIAD / Volkswagen CARIAD Selects Qualcomm to Power Volkswagen’s Future Automated Driving Solutions – link • CARIAD selects Snapdragon Ride™ Platform’s system-on-chips (SoCs) for its unified scalable software platform • Tailor
Slide 19: QCT IoT Edge Networking: Extending leadership to Wi-Fi 7
Key Announcement QCT IoT Edge Networking: Extending leadership to Wi-Fi 7 Qualcomm Debuts Wi-Fi 7 Networking Pro Series, the World's Most Scalable Commercial Wi-Fi 7 Platform – link A family of platforms for high-performance networking • Currently sampling the world’s most scalable Wi-Fi 7 networkin
Slide 20: QCT Handsets: Snapdragon 8+ Gen 1 – raising the bar for premium tier
Key Announcement QCT Handsets: Snapdragon 8+ Gen 1 – raising the bar for next-generation premium tier Qualcomm Extends Leadership in Premium and High Tier Android Devices with Snapdragon’s Newest Powerhouse Mobile Platforms – link • The Company’s newest premium-tier platform—Snapdragon 8+ Gen 1—is a
Slide 21: Key Announcements
Key Announcements • UScellular, in Collaboration with Qualcomm and Inseego, Launches 5G mmWave High-Speed • Snapdragon Spaces is Globally Available for All Developers to Download and Revolutionize Internet Service in 10 Cities – link Headworn AR – link • Qualcomm Introduces Automated Frequency Coord
Slide 22: Financial Strength & Reconciliations
Financial Strength & Reconciliations 22
Slide 23: Financial Strength
Financial Strength June 26, 2022 June 27, 2021 Total cash, cash equivalents and marketable securities $6.8B $12.9B Total assets $47.0B $38.8B Stockholders' equity $16.0B $8.2B Debt(1) $15.5B $15.7B 23 1.) Includes short-term and long-term debt.
Slide 24: Note Regarding Use of Non-GAAP Financial Measures
Note Regarding Use of Non-GAAP Financial Measures The Non-GAAP financial measures presented herein or in the accompanying conference call should be considered in addition to, not as a substitute for or superior to, financial measures calculated in accordance with GAAP. In addition, “Non-GAAP” is not
Slide 25: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures Third Quarter Fiscal 2022 Results Less Share- GAAP Based Less Other Non-GAAP (in millions, except per share data) Results Less QSI Compensation Items(1) Results Revenues $10,936 $8 $— $— $10,928 EBT $4,239 ($101) ($544) $990 $3,894 Net income (l
Slide 26: Fiscal 2021 Results
Fiscal 2021 Results Less Share- GAAP Based Less Other Non-GAAP (in millions, except per share data) Results Less QSI Compensation Items(1) Results Net income (loss) $9,043 $751 ($1,235) ($284) $9,811 Diluted EPS $7.87 $0.65 ($1.07) ($0.25) $8.54 Diluted shares 1,149 1,149 1,149 1,149 1,149 26 1.) De
Slide 27: Business Outlook
Business Outlook Q3FY22 Q4FY22 FY22 Guidance(1)(2) Guidance(2)(3) Guidance(2)(3) Revenues $10.5B - $11.3B $11.0B - $11.8B GAAP diluted EPS $2.35 - $2.55 $2.53 - $2.83 $11.51 Less diluted EPS attributable to QSI $— $— ($0.16) Less diluted EPS attributable to share-based compensation ($0.33) ($0.39) (
Slide 28: Operating Expenses Effective Tax Rates
Operating Expenses Q2FY22 Q3FY22 Q3FY22 Q3FY22 Q4FY22 Sequential % (in millions, except percentages) Results Results Increase Guidance(1) Guidance(2) Increase 7% - 9% Increase 6% - 8% GAAP combined R&D and SG&A expenses $2,658 $2,707 2% sequentially sequentially Less QSI 4 3 — N/P N/P Less share-bas