M31 Technology Corp. · TPEX:6643
M31 Technology — Q4 2023 Earnings Presentation
17 slides from M31 Technology's earnings presentation, Mar 5, 2024
Slide 1: 2023 Fourth Quarter Earnings Conference
Stock Code: 6643 TT 2023 Fourth Quarter Earnings Conference March 5th, 2024 1
Slide 2: Agenda
Agenda • Welcome Silvia Su, Spokesperson • 4Q23 Financial Results Silvia Su, Spokesperson • 2024 Outlook & Key Messages Scott Chang, CEO • Q&A Scott Chang, CEO 22
Slide 3: Safe Harbor Notice
Safe Harbor Notice • M31’s statements of its current expectations are forward- looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. • Except as required by law, we undertake no obligation to
Slide 4: 4Q23 Financial Results
4Q23 Financial Results M31 Technology Corporation. Proprietary and Confidential 4
Slide 5: 4Q23 Statements of Comprehensive Income
4Q23 Statements of Comprehensive Income Selected Items from Statements of Comprehensive Income 4Q23 4Q23 (In NT$ thousands unless 4Q23 3Q23 4Q22 over over otherwise noted) 3Q23 4Q22 Net Revenue (US$ thousands) 16,726 13,785 15,679 +21.3% +6.7% Net Revenue 519,089 432,489 489,235 +20.0% +6.1% Gross M
Slide 6: 2023 Statements of Comprehensive Income
2023 Statements of Comprehensive Income Selected Items from Statements of Comprehensive Income 2023 (In NT$ thousands unless 2023 2022 over otherwise noted) 2022 Net Revenue (US$ thousands) 52,399 45,296 +15.7% Net Revenue 1,612,337 1,360,165 +18.5% Gross Margin 100% 100% Operating Expenses (1,165,8
Slide 7: Balance Sheets
4Q23 Balance Sheets Selected Items from Balance Sheets 4Q23 3Q23 4Q22 (In NT$ thousands) Amount % Amount % Amount % Cash & Marketable Securities 1,147,938 48% 1,047,864 46% 1,114,223 47% Accounts Receivable 373,804 16% 318,906 8% 325,217 14% Other current assets 132,573 5% 173,836 14% 219,880 9% Net
Slide 8: Cash Flow
4Q23 Cash Flow (In NT$ thousands) 4Q23 3Q23 4Q22 12 Months Ended 9 Months Ended 12 Months Ended Beginning Balance 546,776 546,776 307,421 Cash generated from operating activities 241,341 68,613 651,573 Cash used in investing activities 332,001 371,829 (185,571) Cash generated from/(used in) financin
Slide 9: Operating Result
Operating Result M31 Technology Corporation. Proprietary and Confidential
Slide 10: Revenue by Income Source
4Q23 Revenue by Income Source 100% 100% 8.6% 12.8% 15.1% 16.5% 22.8% 20.1% 21.4% 28.6% 80% 80% 60% 60% 91.4% 87.2% 84.9% 40% 40% 83.5% 77.2% 79.9% 78.6% 71.4% 20% 20% 0% 0% 4Q22 1Q23 2Q23 3Q23 4Q23 2021 2022 2023 License Fee Royalty License Fee Royalty 10 10
Slide 11: Revenue by Region
4Q23 Revenue by Region 100% 100% 6.7% 14.7% 19.5% 18.8% 18.6% 20.8% 21.5% 28.6% 80% 80% 26.2% 16.5% 18.7% 19.5% 26.3% 30.6% 60% 60% 26.1% 18.3% 22.3% 45.5% 14.7% 18.1% 5.8% 40% 40% 13.0% 17.2% 13.3% 49.1% 47.2% 48.8% 46.6% 20% 43.7% 20% 34.9% 28.0% 20.5% 0% 0% 4Q22 1Q23 2Q23 3Q23 4Q23 2021 2022 2023
Slide 12: Revenue by Customer Type
4Q23 Revenue by Customer Type 100% 100% 24.9% 27.4% 33.6% 80% 40.7% 40.7% 80% 47.7% 49.4% 63.1% 60% 60% 40% 40% 75.1% 72.6% 66.4% 59.3% 59.3% 52.3% 50.6% 20% 20% 36.9% 0% 0% 4Q22 1Q23 2Q23 3Q23 4Q23 2021 2022 2023 Fabless Foundry Fabless Foundry 12 12
Slide 13: Fabless License Fee by Nodes
4Q23 Fabless License Fee by Nodes 100% 2.6% 2.6% 2.5% 0.9% 100% 2.3% 3.2% 6.4% 4.1% 10.3% 7.6% 15.3% 8.6% 15.0% 14.7% 20.2% 80% 80% 25.1% 43.5% 43.1% 42.2% 60% 46.1% 62.2% 60% 46.2% 38.0% 41.9% 40% 40% 19.6% 22.8% 33.5% 19.0% 36.3% 22.4% 11.1% 20% 20% 20.9% 16.5% 19.7% 18.8% 17.4% 13.6% 10.7% 7.4% 5
Slide 14: Foundry License Fee by Nodes
4Q23 Foundry License Fee by Nodes 100% 100% 18.1% 23.8% 31.3% 80% 80% 49.4% 47.4% 14.8% 54.7% 2.8% 16.7% 68.7% 60% 60% 85.1% 20.1% 40% 10.6% 40% 18.4% 30.5% 65.8% 54.4% 13.0% 15.8% 44.5% 20% 20% 32.2% 21.7% 22.1% 15.6% 14.9% 5.2% 2.6% 0% 0% 4Q22 1Q23 2Q23 3Q23 4Q23 2021 2022 2023 2~8nm 12~16nm 22~28
Slide 15: Recap of 2023 Operating Result
Recap of 2023 Operating Result Despite 4Q23 financial results were heavily impacted by exchange losses and increased employee bonuses, M31 achieved a record-breaking annual revenue and continues to demonstrate profitable growth with improved OP margin. Revenue of royalties suffer the decline in
Slide 16: M31 Future Prospects
M31 Future Prospects a" (ZB M31 M31 Technology.Corporation. Proprietary and Confidential 16 = \ pee \ ‘| Z| ] —— if |
Slide 17: Thank You
Your IP Partner Your Virtual Team Thank You 17