Slide 1: Second Quarter 2024 Earnings Presentation
August 2, 2024 Second Quarter 2024 Earnings Presentation
Slide 2: Disclaimer
Q2 2024 EARNINGS PRESENTATION Disclaimer Forward-Looking Statements This presentation and the accompanying oral commentary (this “presentation”) contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate”, “belie
Slide 3: Key Messages
Q2 2024 EARNINGS PRESENTATION • Raising Adjusted EBITDA guide to $195M - $205M; Reiterating 2024 organic growth guidance of 4% - 6% and Adjusted Free Cash Flow of $65M - $85M • Signed strategic Nuclear New Build partnership agreement with EDF • Customer engagement strong across end markets; Q2 Adjus
Slide 4: Market Performance Update
Q2 2024 EARNINGS PRESENTATION Market Performance Update 1H24 Order % of FY23 End Market Commentary and Trends Growth1 Revenue Medical 3% ~36% • Comping 23% order growth figure from same period last year Radiation Therapy Quality Assurance (RTQA) – ~20% • • Accelerating improvement in domestic radiat
Slide 5: Mirion | Second Quarter Ended June 30, 2024
Q2 2024 EARNINGS PRESENTATION Mirion | Second Quarter Ended June 30, 2024 Revenue Adjusted Gross Profit & Margin Adjusted EBITDA & Margin Adjusted EPS $ millions | % percentage % percentage | basis points $ millions | % percentage $ millions % 2Q24 vs. 2Q23 Organic +3.6% Acquisition +1.8% FX (0.4)%
Slide 6: Medical | Second Quarter Ended June 30, 2024
Q2 2024 EARNINGS PRESENTATION Medical | Second Quarter Ended June 30, 2024 Revenue Adjusted EBITDA and Margin $ millions | % percentage $ millions | % percentage % 2Q24 vs. 2Q23 Organic +2.6% MEDICAL SEGMENT Acquisition +5.2% FX (0.1)% Named Luis Rivera EVP of Medical business, Total +7.7% reporting
Slide 7: Technologies | Second Quarter Ended June 30, 2024
Q2 2024 EARNINGS PRESENTATION Technologies | Second Quarter Ended June 30, 2024 Revenue Adjusted EBITDA and Margin $ millions | % percentage $ millions | % percentage % Organic 2Q24 vs. 2Q23 +4.1% TECHNOLOGIES SEGMENT Acquisition +0.0% FX (0.4)% Top-line growth driven by strong Nuclear Total +3.7% P
Slide 8: Leverage, Liquidity and Adjusted Free Cash Flow
Q2 2024 EARNINGS PRESENTATION Leverage, Liquidity and Adjusted Free Cash Flow ($ millions) 1H23 1H24 ▪ Adjusted free cash flow of $8.9M in 2Q24 compared to $2.3M in 2Q23 Net cash provided by operating activities Purchases of PPE and badges $4.4 (15.8) $21.2 (23.9) ▪ Capex higher year-over-year, driv
Slide 9: Updated Guidance for 2024
Q2 2024 EARNINGS PRESENTATION Updated Guidance for 2024 Category1 August 2, 2024 May 1, 2024 What we are seeing and expectations Revenue Growth 5% to 7% • Net inorganic growth expected to be ~1.5% from ec2 acquisition No Change Organic Revenue Growth2 4% to 6% • Expected shutdown of lasers business
Slide 10: Appendix
Q2 2024 EARNINGS PRESENTATION Appendix 10
Slide 11: Backlog Trend | 2Q22 – 2Q24
Q2 2024 EARNINGS PRESENTATION Backlog Trend | 2Q22 – 2Q24 ($ millions) +11.0% $857 $841 $825 $799 $737 $741 $743 $722 $693 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Note: Backlog figures on an as reported basis. Backlog figures include acquisitions of SIS after Sep-22 and ec2 after Dec-23. 11
Slide 12: 2-Year Revenue Growth Stacks
Q2 2024 EARNINGS PRESENTATION 2-Year Revenue Growth Stacks Organic Revenue Growth Reported Revenue Growth Total Company Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY a 2024 5.5% 3.6% a 2024 5.8% 5.0% b 2023 7.9% 8.4% 17.3% 5.3% 9.3% b 2023 11.6% 12.2% 18.8% 5.7% 11.6% c 2022 (4.2)% (1.7)% 9.0% 19.1% 5.7% c 2022 (4.
Slide 13: Ten Quarter Segment Reconciliation: Medical
Q2 2024 EARNINGS PRESENTATION Ten Quarter Segment Reconciliation Medical 13
Slide 14: Ten Quarter Segment Reconciliation: Technologies
Q2 2024 EARNINGS PRESENTATION Ten Quarter Segment Reconciliation Technologies 14
Slide 15: Ten Quarter Segment Reconciliation: Corporate & Other
Q2 2024 EARNINGS PRESENTATION Ten Quarter Segment Reconciliation Corporate & Other 15
Slide 16: Ten Quarter Segment Reconciliation: Consolidated
Q2 2024 EARNINGS PRESENTATION Ten Quarter Segment Reconciliation Consolidated 16
Slide 17: Non-GAAP Reconciliations
Q2 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Consolidated – Income from Operations, Gross Profit & Adjusted EBITDA 17
Slide 18: Non-GAAP Reconciliations: Adjusted Earnings per Share
Q2 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Adjusted Earnings per Share 18
Slide 19: Non-GAAP Reconciliations: Adjusted Order Growth (Decline)
Q2 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Adjusted Order Growth (Decline) a b a-b=c c/b=d Three Months Ended Three Months Ended ($ in millions) June 30, 2024 June 30, 2023 Variance ($) Variance (%) Total Orders $ 205.1 $ 207.0 $ (1.9) -0.9% 2 Adjustment for ec Acquisition (2.7) - Adjust
Slide 20: Share Count Details
Q2 2024 EARNINGS PRESENTATION Share Count Details1 Share Description Outstanding Securities2 Notes Outstanding Shares of Class A Common Stock 206,609,792 ▪ Outstanding shares as of close of trading on the New York Stock Exchange (NYSE) June 30, 2024 (as of 6/30/2024) ▪ Shares of Class B common stock
Slide 21: Footnotes to Share Count and Adjusted Metrics
Q2 2024 EARNINGS PRESENTATION Footnotes to Share Count and Adjusted Metrics Share Count 206,609,792 shares of Class A common stock were outstanding as of June 30, 2024. This excludes (1) 6,858,290 shares of Class B common stock outstanding as of June 30, 2024 (2) 18,750,000 founder shares which are
Slide 22: Mirion
M MIRION