Globalfoundries Inc. · NASDAQ:GFS
Globalfoundries — Q2 2025 Earnings Presentation
32 slides from Globalfoundries's earnings presentation, Aug 5, 2025
Slide 1: Second Quarter 2025 Financial Results
Second Quarter 2025 Financial Results (unaudited) August 5, 2025 1
Slide 2: Disclaimer - Forward-looking statements and Third-Party Data
Disclaimer - Forward-looking statements and Third-Party Data This presentation and the accompanying oral presentation include “forward- Although we believe that the expectations reflected in our statements are We define Non-IFRS adjusted free cash flow as cash flow provided by (used looking statemen
Slide 3: Results and Highlights
Results and Highlights
Slide 4: Second Quarter 2025 Results
Second Quarter 2025 Results Revenue Non-IFRS Gross Non-IFRS Earnings Margin(1) per Share(1) $1.69B 25.2% $0.42 ↑ 3% Y/Y Flat Y/Y ↑ 11% Y/Y (1) See the Appendix for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and for a discussion of why we believe these
Slide 5: Key Highlights
Key Highlights » Q2 results topped non- » ~16% adjusted free IFRS guided midpoints, cash flow margin(1) in with adjusted EPS(1) the quarter exceeding the high end of the range » Third consecutive » Announced $16B US quarter of double digit investment plans % year-over-year supported by Apple, revenu
Slide 6: Key Announcements
Key Announcements
Slide 7: GF Announced as Foundry Partner for Continental
Key Announcements GF Announced as Foundry Partner for Continental Continental announced the establishment of an Advanced Electronics & Semiconductor Solutions organization, a fabless semiconductor unit which will utilize GF as its manufacturing partner. Expected Outcomes: Dual sourcing - Faster Diff
Slide 8: GlobalFoundries to Acquire MIPS
Key Announcements GlobalFoundries to Acquire MIPS MIPS will expand GF portfolio with cutting-edge RISC-V processor IP and software tools for real- time computing in autonomous mobility, industrial automation, data center and AI applications. Expected Outcomes: Expand Accelerate partnerships Increase
Slide 9: GF Establishes China-for-China Footprint
Key Announcements GF Establishes China-for-China Footprint GF entered into a definitive agreement with a local Chinese foundry to ensure GF customers will benefit from the combination of GF's Automotive grade process technologies with reliable domestic supply in China. Chinese GF Foundry Customers P
Slide 10: End Markets
End Markets
Slide 11: End Market Commentary
End Market Commentary 9 Com Communications Smart Mobile Home and Infrastructure and Devices » Automotive » Industrial IoT » Datacenter » Expect strong commercial Outgrowing the market Seeing significant design Achieving design win traction with new design and capturing share as we win momentum for u
Slide 12: Smart Mobile Devices
Smart Mobile Devices Q2'25 Revenue $683M ↓ (10)% Y/Y Q2'25 Key Design Wins End Market Commentary Platform Application 36 design wins in RF front end with 9 of the top 10 industry 8SW / 9SW RF Front-End players and secured committed 22FDX AI processor for smart glasses 5G transceiver FinFET revenue o
Slide 13: Automotive
Automotive Q2'25 Revenue $368M ↑ 36% Y/Y Q2'25 Key Design Wins End Market Commentary Platform Application Accelerated design win traction across our portfolio of 12LP+ Next gen radar processors diversified applications. In the 22FDX 5th generation MCU second quarter alone, we won designs with 25 uni
Slide 14: Home and Industrial IoT
Home and Industrial IoT Q2'25 Revenue $300M ↑ 2% Y/Y Q2'25 Key Design Wins End Market Commentary Platform Application IoT design win momentum in applications where the need to 12LP+ WiFi connectivity acquire, process, and 22FDX Bluetooth SoC communicate data - securely and at low power - is 22FDX AI
Slide 15: Communications Infrastructure and Datacenter
Communications Infrastructure and Datacenter Q2'25 Revenue $171M ↑ 11% Y/Y Q2'25 Key Design Wins End Market Commentary Platform Application Ramping silicon photonics capabilities to address the need 12LP Ground terminal infrastructure for higher performance 22FDX Digital beamformers solutions to sup
Slide 16: Q2'25 Revenue by End Market
Q2'25 Revenue by End Market (Unaudited, in millions USD) ((Unaudited, in millions) Year-over-year Sequential Q2'25 Q1'25 Q2'24 Q2'25 vs Q2'24 Q2'25 vs Q1'25 Smart Mobile Devices $683 $586 $762 ($79) (10)% $97 17% Communications Infrastructure and $171 $174 $154 $17 11% $(3) (2)% Datacenter Home and
Slide 17: Q2'25 Revenue Mix by End Market
Q2'25 Revenue Mix by End Market 9(Unaudited) 10% 9% Smart Mobile Devices 17% Communications Infrastructure and Datacenter 40% 22% Q2'25 Q2'24 47% Home and Industrial IoT 18% Automotive 18% 10% 9% Non-Wafer & Corporate Other 17
Slide 18: Capex and Cash Flow
Capex and Cash Flow Year-to-Date Through Q2'25 ▪ Having already implemented several capacity expansions in Cash flow from operations $762M a capital-efficient manner, GF continues to deliver robust free cash flow. Capital expenditures $325M (10% of Revenue) ▪ GF remains on track to generate over $1
Slide 19: Outlook
Outlook 19
Slide 20: Q3'25 Guidance
Q3’25 Guidance(1) (Unaudited, in millions USD, except per share amounts) IFRS Share-Based Non-IFRS(2) Compensation(3) Net Revenue $1,675 ± $25 Gross Margin(2) 24.4% ± 100bps ~110bps 25.5% ± 100bps Operating Expenses(2) $228 ± $10 ~$38 $190 ± $10 Operating Margin(2) 10.8% ± 180bps ~340bps 14.2% ± 180
Slide 21: Appendix: Summary Financials and Reconciliations
Appendix: Summary Financials and Reconciliations
Slide 22: Q2'25 Financial Summary
Q2'25 Financial Summary (Unaudited, in millions, except per share data and wafer shipments) Year-over-year Sequential Q2'25 Q1'25 Q2'24 Q2'25 vs Q2'24 Q2'25 vs Q1'25 Net revenue $1,688 $1,585 $1,632 $56 3% $103 6% Gross profit 408 355 395 $13 3% $53 15 % Gross margin 24.2% 22.4% 24.2% 0bps +180bps N
Slide 23: Statement of Operations
Statement of Operations (Unaudited, in millions, except per share amounts) Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Net revenue $ 1,688 $ 1,585 $ 1,632 Cost of revenue 1,280 1,230 1,237 Gross profit $ 408 $ 355 $ 395 Operating expenses: Research and development 134 127 121 Selli
Slide 24: Statements of Financial Position
Statements of Financial Position (Unaudited, in millions) As of June 30, 2025 December 31, 2024 Assets: Cash and cash equivalents $ 1,790 $ 2,192 Marketable securities 1,305 1,194 Receivables, prepayments and other 1,535 1,406 Inventories 1,726 1,624 Current assets 6,356 6,416 Property, plant, and e
Slide 25: Statement of Cash Flows
Statement of Cash Flows (Unaudited, in millions) Three Months Ended June 30, 2025 June 30, 2024 Operating Activities: Net income $ 228 $ 155 Depreciation and amortization 335 402 Finance (income) expense, net and other (8) (28) Net change in working capital (136) (168) Other non-cash operating activ
Slide 26: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (Unaudited, in millions, except per share amounts) Three Months Ended June 30, 2025 Selling, Other Income tax Research & Operating Gross profit general & Income (expense) Net income Diluted EPS development profit administrative (Expense) benefit As Reported $ 408 $ 7
Slide 27: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (Unaudited, in millions, except per share amounts) Three Months Ended March 31, 2025 Selling, Income tax Research & Operating Other Income Gross profit general & (expense) Net income Diluted EPS development profit (Expense) administrative benefit As Reported $ 355 $
Slide 28: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (Unaudited, in millions, except per share amounts) Three months ended June 30, 2024 Selling, Income tax Research & Operating Other Income Gross profit general & (expense) Net income Diluted EPS development profit (Expense) administrative benefit As Reported $ 395 $ 1
Slide 29: IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted Free Cash Flow
IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted Free Cash Flow (1) a (Unaudited, in millions) Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Net cash provided by operating activities $431 $331 $402 Less: Purchases of property, plant and (159) (166) (101) equipment and intangible ass
Slide 30: IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted EBITDA
IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted EBITDA(1) (Unaudited, in millions) Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Net revenue $ 1,688 $ 1,585 $ 1,632 Net income 228 211 155 Net income margin 13.5 % 13.3 % 9.5 % Depreciation and amortization 335 352 402 Finance expens
Slide 31: Financial Measures (Non-IFRS)
Financial Measures (Non-IFRS) In addition to the financial information presented in accordance with International Financial We believe that in addition to our results determined in accordance with IFRS, these Non- Reporting Standards ("IFRS"), this press release includes the following Non-IFRS finan
Slide 32: Thank You
Thank You The information contained herein is the property of GlobalFoundries and/or its licensors. This document is for informational purposes only, is current only as of the date of publication and is subject to change by GlobalFoundries at any time without notice. GlobalFoundries, the GlobalFound