Slide 1: Fourth Quarter and Fiscal 2022 Earnings
Fourth Quarter and Fiscal 2022 Earnings November 2, 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: Q4FY22 Highlights
Q4FY22 Highlights 3
Slide 4: Fourth Quarter Fiscal 2022 Highlights
Fourth Quarter Fiscal 2022 Highlights Delivered Record Revenues Revenues YoY Non-GAAP(1) Revenue Growth GAAP EPS(2) Non-GAAP EPS $11.4B 22% $2.54 $3.13 QCT QTL Other FY22 Record revenues of Increased EBT by Revenues of Returned FY20-FY22: $9.9B (3) 37% $1.4B $1.3B >2x and record EBT of year-over-yea
Slide 5: Q4FY22 QCT Highlights
Revenues Q4FY22 • Announced Snapdragon® 6 and 4 Gen 1 mobile platforms, scaling flagship experiences and advanced technology solutions to more consumers around the world. QCT Highlights Handsets • Partnered with Razer and Verizon to introduce the ultimate 5G handheld gaming device $6.6B powered by S
Slide 6: Financial Results and Guidance
Financial Results and Guidance As of November 2, 2022 Quarterly Results and Guidance Q4FY22 Guidance(1) Q4FY22 Results Q1FY23 Guidance(2)(3)(4) Revenues $11.0B - $11.8B $11.4B $9.2B - $10.0B Non-GAAP diluted EPS $3.00 - $3.30 $3.13 $2.25 - $2.45 Non-GAAP operating expenses(5), sequential quarter cha
Slide 7: FY22 Highlights
FY22 Highlights 7
Slide 8: FY22 Record Year Across Key Metrics
FY22 Revenues EBT EPS Record Year Across Key +32% +47% +47% Non-GAAP Metrics $44.2B $16.6B $12.53 $33.5B $11.3B $8.54 FY21 FY22 FY21 FY22 FY21 FY22 8
Slide 9: FY22 QCT and QTL Results
FY22 QCT QTL Revenues EBT Revenues EBT Strong QCT Growth +39% +65% +1% Flat $37.7B $12.8B $6.3B $6.4B $27.0B $4.6B $4.6B $7.8B FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22 9
Slide 10: FY22 Growth Across All QCT Revenue Streams
FY22 Handsets RF front-end Automotive IoT Growth Across All +49% +4% +41% +37% QCT Revenue Streams $25.0B $1.4B $6.9B $4.2B $4.3B $16.8B $975M $5.1B FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22 10
Slide 11: QCT Revenue Streams Update
QCT Revenue Streams Update FY22 QCT Revenues: We have grown our RF front-end revenues to become the #1 player in (in millions) Prior RF front-end Updated handsets and expect growth to be driven by a strong design-win pipeline Handsets $25,027 $3,788 $28,815 for 5G and Wi-Fi 7 platforms across Handse
Slide 12: Market & Inventory
Market & Inventory Our near-term financial outlook is impacted by challenges currently facing the semiconductor industry: (1) Demand weakness and (2) elevated channel inventory (1) Demand Weakness: As we communicated at our last earnings call, we had started to see a deceleration in demand in mass t
Slide 13: Key Announcements
Key Announcements 13
Slide 14: QCT Handsets: Snapdragon 8+ Gen 1 Powers Samsung Foldables
Key Announcement QCT Handsets: Snapdragon 8+ Gen 1 Powers Samsung’s Newest Flagship Foldable Devices Snapdragon 8+ Gen 1 Powers Samsung Galaxy Z Series Devices Globally – link • Snapdragon® 8+ Gen 1 Mobile Platform powers Samsung’s newest flagship foldable device lineup, Galaxy Z Flip4 and Z Fold4,
Slide 15: QCT Consumer IoT: Multi-year Strategic Agreement with Meta
Key Announcement QCT Consumer IoT: Signed a Multi-year Strategic Agreement for Snapdragon XR Platforms with Meta Qualcomm and Meta Partner to Deliver Multi-Generation Metaverse Experiences – link Companies sign a multi-year broad strategic agreement to develop premium experiences that leverage custo
Slide 16: QCT Edge Networking IoT: Qualcomm and Vodafone Collaborate
Key Announcement QCT Edge Networking IoT: Qualcomm and Vodafone Collaborate on High-Performance, Energy Efficient Infrastructure Solutions to Meet the Demands of the Modern Network Qualcomm and Vodafone Partnering to Develop and Test Next-Generation 5G Open RAN Infrastructure – link The solutions ar
Slide 17: QCT Automotive: Greater than 2X Increase in Pipeline
Key Announcement QCT Automotive: Greater than 2X Increase in Pipeline Since November 2021 - The Snapdragon® Digital Chassis™ Solution Enables the Car of the Future Qualcomm's Automotive Design-Win Pipeline Expands to $30B – link The expanded $30B pipeline is a result of significant design wins with
Slide 18: Mercedes-Benz
Key Announcement QCT Automotive: Mercedes to utilize Snapdragon® Cockpit Platforms and Snapdragon® Auto Connectivity Platforms to deliver best-in-class driving experiences Mercedes-Benz and Qualcomm Collaborate to Power Upcoming Mercedes Vehicles with Snapdragon Digital Chassis Solutions – link Comb
Slide 19: Key Announcements
Key Announcements • Qualcomm to Demonstrate How its Snapdragon Digital Chassis is Enabling the Transformation • Qualcomm Collaborates with Red Hat to Redefine Transportation with Linux Support for of the Automobile at its First Automotive Investor Day on September 22 – link Snapdragon Digital Chassi
Slide 20: Financial Strength & Reconciliations
Financial Strength & Reconciliations 20
Slide 21: Financial Strength
Financial Strength September 25, 2022 September 26, 2021 Total cash, cash equivalents and marketable securities $6.4B $12.4B Total assets $49.0B $41.2B Stockholders' equity $18.0B $10.0B Debt(1) $15.5B $15.7B 21 1.) Includes short-term and long-term debt.
Slide 22: 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 23: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures Fourth 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 $11,396 $9 $— $— $11,387 Net income (loss) $2,873 ($24) ($437) ($214) $3,5
Slide 24: Fiscal 2022 Results Fiscal 2021 Results
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 $44,200 $31 $— $— $44,169 EBT $14,998 ($279) ($2,061) $740 $16,598 Net income (loss) $12,936 ($207) ($1,572) $461 $14,254 Diluted EPS $11.37 ($0
Slide 25: Fiscal 2020 Results
Fiscal 2020 Results Less Share- GAAP Based Less Other Non-GAAP (in millions, except per share data) Results Less QSI Compensation Items(1) Results Revenues $23,531 $36 $— $1,841 $21,654 Net income (loss) $5,198 ($3) ($974) $1,359 $4,816 Diluted EPS $4.52 $— ($0.85) $1.18 $4.19 Diluted shares 1,149 1
Slide 26: Free Cash Flow and Return of Our Free Cash Flow to Stockholders
Free Cash Flow and Return of Our Free Cash Flow to Stockholders (in millions, except percentages) FY22 Net cash provided by operating activities (GAAP) $9,096 Less capital expenditures 2,262 Free cash flow (Non-GAAP) $6,834 Cash paid to repurchase shares of our common stock $3,129 Cash dividends pai
Slide 27: Business Outlook
Business Outlook Q4FY22 Q1FY23 Guidance(1)(2) Guidance(2)(3)(4) Revenues $11.0B - $11.8B $9.2B - $10.0B GAAP diluted EPS $2.53 - $2.83 $1.72 - $1.92 Less diluted EPS attributable to QSI $— $— Less diluted EPS attributable to share-based compensation ($0.39) ($0.43) Less diluted EPS attributable to o
Slide 28: Operating Expenses and Effective Tax Rates
Operating Expenses Q4FY22 Sequential % Q3FY22 Q4FY22 Increase Q4FY22 Q1FY23 (in millions, except percentages) Results Results (Decrease) Guidance(1) Guidance(2) Increase 6% - 8% Increase 1% - 3% GAAP combined R&D and SG&A expenses $2,707 $2,862 6% sequentially sequentially Less QSI 3 3 — N/P N/P Les