Slide 1: First Quarter Fiscal 2022 Earnings Supplemental Slides
First Quarter Fiscal 2022 Earnings SUPPLEMENTAL SLIDES NOVEMBER 4, 2021
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations and projections relatin
Slide 3: Q1'FY22 Financial Highlights
Q1’FY22 Financial Highlights • Revenue of $372.7 million, above midpoint of guidance range and up +13% YoY and +14% QoQ • IoT Revenue increased 70% YoY • Record GAAP and non-GAAP gross margin – GAAP gross margin of 53.2% – Non-GAAP gross margin of 58.0%, up 50 basis points sequentially, at the high-
Slide 4: Q1'FY22 Business Highlights
Q1’FY22 Business Highlights • IoT products continue to grow rapidly; up 70% year-over-year $78 • Significant traction in Virtual Reality market with 30+ models using Synaptics technology Q1’FY22 • New ‘Triple-Combo’ wireless chip capable of $373M IoT supporting Zigbee/Thread/Matter protocols now $20
Slide 5: Q1'FY22 Financial Results
Q1’FY22 Financial Results $M (except EPS) Q1’21 Q4’21 Q1’22 QoQ YoY Revenue $328.4 $327.8 $372.7 13.7% 13.5% GAAP Gross Margin % 41.0% 52.1% 53.2% 110bps 1220bps GAAP Operating Expenses $128.5 $119.9 $137.5 15% 7% GAAP EPS ($0.08) $0.48 $0.99 106% NA Non-GAAP Gross Margin % 49.7% 57.5% 58.0% 50bps 8
Slide 6: Q2'FY22 Guidance
Q2’FY22 Guidance $M (except EPS) GAAP Non-GAAP Revenue $390M - $420M $390M - $420M Gross Margin % 54.0% - 55.0% 58.5% 59.5% Operating Expenses $134M - $141M $90M - $93M EPS $1.25 - $1.65 $2.90 - $3.20 Revenue mix IoT 58% 58% PC 22% 22% Mobile 20% 20% See the tables at the end of this presentation fo
Slide 7: Q1'FY22 Balance Sheet
Q1’FY22 Balance Sheet In Millions Q3’21 Q4’21 Q1’22 Cash & ST Investments $756.2 $836.3 $347.3 AR $233.7 $228.3 $269.7 Inventory $69.3 $82.0 $88.7 PP&E $95.3 $91.2 $92.1 Other $1,026.5 $989.0 $984.4 Total Assets $2,181.0 $2,226.8 $1,782.2 Current Liabilities (excluding debt) $276.1 $299.6 $303.5 Deb
Slide 8: Revenue Trend
Revenue Trend Guidance Mid-Point $405 $373 58.0% $358 $328 $326 $328 $ millions 37% Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Total Revenue IoT Revenue as a % of Total © 2021 Synaptics Incorporated 8
Slide 9: Non-GAAP Net Income & EPS Fiscal Quarter Trend
Non-GAAP Net Income & EPS Fiscal Quarter Trend Guidance Mid-Point $3.05 $2.68 $2.30 $2.18 $2.03 $1.85 $ millions $126 $109 $84 $87 $79 $67 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Non-GAAP Net Income Non-GAAP EPS See the tables at the end of this presentation for a reconciliation of GAAP results to non-G
Slide 10: Virtual Reality Reclassification
Virtual Reality Reclassification FY2020 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Revised Revenue Mix Actual Actual Actual Actual Actual Actual Total $1,333.9 $328.4 $357.6 $325.8 $327.8 $372.7 NEW IoT 329.8 120.7 163.0 151.4 177.8 205.7 PC 317.4 80.5 91.5 98.4 84.3 88.6 Mobile 686.7 127.2 103.1 76.0 65.7 78.4
Slide 11: Appendix
Appendix
Slide 12: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables Q1'22 Q4'21 Q3'21 Q2'21 Q1'21 Actual Actual Actual Actual Actual GAAP gross margin $ 198.1 $ 170.8 $ 155.5 $ 150.4 $ 134.5 Acquisition related costs 16.9 16.9 23.2 34.8 28.5 Recovery on supply commitment - - - - (0.6) Share-based compensation 1.0 0.8 0.8 1.0 0.
Slide 13: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued Q1'22 Q4'21 Q3'21 Q2'21 Q1'21 Actual Actual Actual Actual Actual GAAP net income/(loss) $ 40.2 $ 19.0 $ 13.8 $ 49.6 $ (2.8) Recovery on supply commitment - - - - (0.6) Acquisition/divestiture & transaction/integration related costs 27.5 25.5 31.9 44
Slide 14: Engineering Exceptional Experiences
Engineering Exceptional Experiences © 2021 Synaptics Incorporated 14