Qualcomm Incorporated · NASDAQ:QCOM
Qualcomm — Q1 FY2022 Earnings Presentation
26 slides from Qualcomm's earnings presentation, Feb 2, 2022
Slide 1: First Quarter Fiscal 2022 Earnings
February 2, 2022 First Quarter Fiscal 2022 Earnings
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: Q1 FY22 Highlights
QIFY22 Highlights
Slide 4: First Quarter Fiscal 2022 Highlights
First Quarter Fiscal 2022 Highlights RECORD Quarterly Revenues and Eps” Revenues 210./B QCT Revenues of %8.8B exceeded those of any fabless semi company” $2.9B Combined RF front-end, loT & Automotive revenues YoY Revenue Growth 30% 6" consecutive quarter greater than 60% YoY EBT” growth EBT margin o
Slide 5: Q1 FY22 Highlights
QIFY22 Highlights Second Consecutive Quarter of Results REVENUES Handsets £6.0B RF front-end %11B Automotive $256M Internet of Things (loT) $1.5B Snapdragon, Qt Qualcomm Al SDK, and Snapdragon Ride are prod >60% YoY growth in revenues from our Snapdragon chipsets, for Android devices. Announced our
Slide 6: Financial Results and Guidance
Financial Results and Guidance As of February 2, 2022 erly Results and Guidance QIFY22 Guidance” Revenues $10.0B - $10.8B Non-GAAP diluted EPS $2.90 - $3.10 Non-GAAP operating expenses®), sequential quarter change Decrease 2% to 3% GAAP interest and investment and other expense (income), net ~$125M
Slide 7: Record Quarter Across Key Non-GAAP Metrics
QIFY22 Record Quarter: Across Key Non-GAAP Metrics Revenues EBT EPS +30% +4.8% +49% $10.78 $4.38 $3.23 $2.17 $8.2B $29B QIFY21 QIFY22 QIFY21 QIFY22 QIFY21 QIFY22
Slide 8: Diversification Strategy Driving Strong Growth
QIFY22 Diversification Strategy Driving Strong Growth Revenues +35% $8.8B $6.5B QIFY2i = QIFY22 QCT QTL EBT Revenues EBT +62% +H0% +11% $3.18 size 2188 $148 $1.3B $19B QIFY21 QIFY22 QIFY21 = QIFY22 QIFY2i = QIFY22
Slide 9: Growth Across All QCT Revenue Streams
QIFY22 Growth Across All QCT Revenue Streams Handsets RF front-end Automotive lol +4 2% +7% +21% +41% $1.5B $6.0B He $256M an 212M a $1.0B $4.2B QIFY2i = QIFY22 QIFY21 QIFY22 QIFY21 = QIFY22 QIFY2i = QIFY22
Slide 10: Financial Results
Financial Results In millions, except per share data and percentages Non-GAAP Q1’22 Q4'21 A Q?r2i A Revenues $10,697 $9,321 +15% $8,226 +30% EBT $4,306 $3,278 431% $2,912 +48% Diluted EPS $3.23 $2.55 +27% $2.17 +49% Segments Q1’22 Q4'21 A Q?r2i A QCT Revenues £8,847 £7,733 +14% £6,533 +35% QCT EBT %
Slide 11: Key Announcements
Key Announcements
Slide 12: Qualcomm Announces World's Most Advanced Mobile Platform
Key Announcement Qualcomm Announces World’s Most Advanced QCT Handsets: Premium tier Mobile Platform, the Snapdragon 8 Gen 1- link * Snapdragon Sight” Camera Technology includes the first commercial 18-bit mobile Image Sensor + Industry-leading on-device Al powered by the 7th Gen Qualcomm” n a ra (@
Slide 13: Qualcomm Expands Portfolio with Snapdragon 8cx Gen 3
Key Announcement Qualcomm Expands Portfolio with Snapdragon 8cx Gen 3 QCT lol Consumer: PCs and 7c+ Gen 3 to Accelerate Mobile Computing - link Alacceleration ° 5am ks OG Windows PC Platform of Al acceleration IG) +-crcec comer Certy For premium experiences you deserve CoMRESE) TZ) Leading image Qu
Slide 14: Qualcomm and Renault Group to Extend Collaboration
Key Announcements Qualcomm and Renault Group to Extend Collaboration and . _ . Bring the Latest Digital Advancements to Next Generation QCT Automotive: Snapdragon Digital Chassis Vehicles with the Snapdragon® Digital Chassis” — link “As we maintain our position as a leading global automaker, we look
Slide 15: Qualcomm Introduces Snapdragon Ride Vision System
Key Announcements Qualcomm Introduces Snapdragon Ride Vision System, an QCT Automotive: ADAS Open and Scalable Platform for Automated Driving — link Snapdragon Ride Vision SoC Combining the purpose-built, high- Industry-leading 4nm SoC for vision applications performance Snapdragon Ride SoCs with th
Slide 16: Qualcomm Announces Collaboration with Microsoft
y Announcemen Qualcomm Announces Collaboration with Microsoft to Expand and Accelerate AR to Usher in New Gateways QCT lol Consumer: Metaverse to the Metaverse - link “With services like Microsoft Mesh, we | | e are committed to delivering the safest | M icrosoft and most comprehensive set of capabi
Slide 17: Key Announcements
Key Announcements * Snapdragon Developer Kit for Windows PCs Now Available As Cost-Effective Resource - link * Qualcomm Announces World's Most Advanced Mobile Platform, the Snapdragon 8 Gen 1- link * Qualcomm Technologies and Google Cloud Announce Collaboration on Neural Architecture Search for the
Slide 18: Financial Strength & Reconciliations
Financial Strength & Reconciliations
Slide 19: Financial Strength
Financial Strength Total cash, cash equivalents and marketable securities Total assets Stockholders’ equity Debt) EBITDA® Adjusted EBITDA® December 26, 2021 December 27, 2020 $11.3B $12.3B $42.8B $375B $11.3B $748 $15.8B $15.7B QIFY22 QIFY21 $4.3B $29B $4.8B $3.3B
Slide 20: 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 os a substitute for or superior to, financial measures calculated in accordance with GAAP. In adcition, "Non-GAAP" is not
Slide 21: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures First Quarter Fiscal 2022 Results (in millions, except per share data) Revenues EBT Net income (loss) Diluted EPS Diluted shares First Quarter Fiscal 2021 Results (in millions, except per share data) Revenues EBT Net income (loss) Diluted EPS Di
Slide 22: Fourth Quarter Fiscal 2021 Results
Fourth Quarter Fiscal 2021 Results (in millions, except per share data) Revenues EBT Net income (loss) Diluted EPS Diluted shares ils of amounts Less Share- GAAP Based Less Other Non-GAAP Results Less QSI Compensation Items Results $9,336 $15 g-— g-— $9,321 $3,285 $504 ($429) (68) $3,278 $2,798 $398
Slide 23: Business Outlook
Business Outlook Revenues GAAP diluted EPS Less diluted EPS attributable to QS! Less diluted EPS attributable to share-based compensation Less diluted EPS attributable to other items“ Non-GAAP diluted EPS QIFY22 Q2FY22 Guidance!) Guidance®9) $10.0B - $10.8B $10.2B - $11.0B $2.53 - $2.73 $2.39 - $2.5
Slide 24: Business Outlook
Business Outlook Q3FY22 Guidance“ Less diluted EPS attributable to QS! N/P Less diluted EPS attributable to other items N/P. 1) Guidance as of February 2, 2022. N/P - Not provided 24
Slide 25: Operating Expenses
Operating Expenses (in millions, except percentages) GAAP combined R&D and SG&A expenses Less QS! Less share-based compensation Less other items‘) Non-GAAP operating expenses (Non-GAAP combined R&D and SG&A expenses) Effective Tax Rates Estimated QIFY22 tax rate QIFY22 tax rate Estimated” Q2FY22 tax
Slide 26: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA (in millions) Net income Plus income tax expense Plus depreciation and amortization expense Plus interest expense Less investment and other income, net EBITDA Adjustments Less QSI operating income" Less share-based compensation operating loss Less other items* Adjusted EBI