Seagate Technology Holdings Plc · NASDAQ:STX
Seagate Technology — Q4 2025 Earnings Presentation
14 slides from Seagate Technology's earnings presentation, Jul 29, 2025
Slide 1: Supplemental Financial Information Q4FY25
SUPPLEMENTAL FINANCIAL INFORMATION Q4FY25 JULY 29, 2025
Slide 2: Safe Harbor Statement and Use of Non-GAAP Financial Information
Safe Harbor Statement and Use of Non-GAAP Financial Information This document and our other communications regarding our quarterly financial results contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide curre
Slide 3: Q4FY25 Financial Results
Q4FY25 Financial Results Delivered strong Q4FY25 and FY25 results1 reflecting our focus Q4FY25 FY25 on driving profitable growth Revenue $2.44B $9.10B o FQ4 revenue exceeded the midpoint of guidance, up 30% YoY, supported by ongoing demand strength from cloud customers Gross Margin (non-GAAP) 37.9%
Slide 4: Markets and Technology Highlights
Markets and Technology Highlights Markets Technology o Hard drive revenue reached $2.3B, up 14% o 24TB CMR / 28TB SMR products widely adopted QoQ, reflecting continued momentum from global by global cloud and enterprise customers; record cloud sales along with seasonal improvements in quarterly sale
Slide 5: Quarterly Financial Trends
Quarterly Financial Trends Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 QoQ YoY 1 Results (non-GAAP) Revenue ($M) 1,887 2,168 2,325 2,160 2,444 13% 30% Gross Margin % 30.9% 33.3% 35.5% 36.2% 37.9% 1.7 ppt 7.0 ppt Operating Expenses ($M) 256 281 287 274 286 4% 12% Operating Margin % 17.3% 20.4% 23.1% 23.5% 26.
Slide 6: Quarterly Financial Trends Continued
Quarterly Financial Trends Continued Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 QoQ YoY Revenue by Product Line ($M) HDD 1,727 2,004 2,169 2,003 2,281 14% 32% Mass Capacity 1,437 1,733 1,894 1,749 2,012 15% 40% Mass Capacity as a % of HDD revenue 83% 87% 87% 87% 88% 1 ppt 5 ppt Legacy 290 270 275 254 270 6%
Slide 7: Guidance Q1FY26
Guidance Q1FY26 Q1FY26 Revenue $2.50 billion ± $150 million Operating Margin1 (non-GAAP) mid-to-high twenties % of revenue Diluted Earnings Per Share1,2 (non-GAAP) $2.30 ± $0.20 Guidance based on announced tariff policies as of July 29, 2025 and reflects minimal direct impact to Q1FY26 financial out
Slide 8: Debt Capital Structure
Debt Capital Structure o $2.2B Liquidity1, $0.9B cash, $1.3B revolving credit facility o $5.0B Debt2, weighted average interest rate of 5.9%, weighted average maturity of ~5 years o Reduced debt by $147M in Q4FY25, including retiring $505M of the FY27 Notes through a new $400M Notes in FY31 and cash
Slide 9: We Build Value in a Data-driven World
We Build Value in a Data-driven World When Scale Demands The Data Rate Tug of War: Performance: How a Global Balancing Hard Drive Speed Cloud Service Provider and Capacity Achieves Both Needs with As enterprises keep pace with Hard Drives relentless data growth, they must Real-world workload analysi
Slide 10: Reconciliation Tables
Reconciliation Tables Seagate | 10
Slide 11: Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit ($M)
Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit ($M) Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 GAAP Gross Profit $ 600 $ 714 $ 812 $ 760 $ 914 3,200 Purchase order cancellation fees (26) (1) — (3) (5) (9) 1 Restructuring and other, net — — — 10 3 13 Share-based compensation 9 10 13 14 14
Slide 12: Reconciliation of GAAP Net Income to Non-GAAP Net Income ($M)
Reconciliation of GAAP Net Income to Non-GAAP Net Income ($M) Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 GAAP Net Income $ 513 $ 305 $ 336 $ 340 $ 488 1,469 Acquisition-related charges — — — 5 2 7 Net gain from business divestiture (313) — — (8) — (8) Net loss from debt transactions — — — 4 3 7 Purchas
Slide 13: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow ($M)
Reconciliation of Net Cash Provided by Operating Activities to Free Q4 FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 Cash Flow ($M) Net Cash Provided by Operating Activities $ 434 $ 95 $ 221 $ 259 $ 508 1,083 Acquisition of property, equipment and leasehold improvements (54) (68) (71) (43) (83) (265) Free C
Slide 14: www.seagate.com
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