Slide 1: Second Quarter Fiscal 2020 Earnings Supplemental Slides
Second Quarter Fiscal 2020 Earnings Supplemental Slides February 6, 2020
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements give our
Slide 3: Non-GAAP Results
Non-GAAP Results • In evaluating our business, we consider and use non-GAAP net income, which we define as net income excluding share-based compensation, acquisition related costs, and certain other non-cash or recurring and non-recurring items we do not believe are indicative of our core operating
Slide 4: Q2FY20 Highlights
Q2FY20 Highlights Financial Highlights • Revenue and gross margin exceeded high-end of guidance range – Improved revenue mix leading to higher and more sustainable margins • Non-GAAP OPEX spend was below the low-end of guidance range • First quarter in more than five years with non-GAAP operating ma
Slide 5: Q2FY20 Financial Results
Q2FY20 Financial Results Year over Year Q1’19 Q2’19 Q1’18 Q2’20 Year over Year $M (except EPS) Actual Actual Actual Actual Delta Delta$ Delta Delta%% Revenue $425.5 $388.3 ($37.2) (9%) GAAP Net Income $12.8 $19.8 $7.0 55% GAAP EPS Diluted $0.36 $0.58 $0.22 61% Non-GAAP Net Income $54.4 $70.1 $15.7
Slide 6: Q2FY19 and Q2FY20 Results vs Q2FY20 Guidance
Q2FY19 and Q2FY20 Results vs Q2FY20 Guidance Q2’19 Q2’20 Q2’20 $M (except EPS) Actual Actual Guidance Revenue $425.5 $388.3 $345M - $365M Non-GAAP Gross Margin % 38.9% 42.9% 40.5% - 42.5% Non-GAAP Op Expenses $104.0 $89.2 $90M - $93M Non-GAAP EPS $1.55 $2.04 $1.35 - $1.55 GAAP Gross Margin % 35.2% 4
Slide 7: Second Quarter Fiscal 2020 Cash & Debt
Second Quarter Fiscal 2020 Cash & Debt $ Millions • Debt amounts presented above are as of the end of each quarter presented and represent the balances due to third parties and exclude discount & debt issuance cost adjustments as presented on our balance sheet. © 2020 Synaptics Incorporated 7
Slide 8: Second Quarter Fiscal 2020 Balance Sheet
Second Quarter Fiscal 2020 Balance Sheet Q4’19 Q1’20 Q2’20 Q2’20 In Millions Actual Actual Actual vs Q1’20 Cash & Investments $327.8 $350.8 $424.8 $74.0 AR $230.0 $232.2 $246.4 $14.2 Inventory $158.7 $138.2 $82.1 ($56.1) PP&E $103.0 $98.8 $87.7 ($11.1) Other $590.3 $604.3 $616.2 $11.9 Total Assets $
Slide 9: Third Quarter Fiscal 2020 Guidance
Third Quarter Fiscal 2020 Guidance Q3’19 Q2’20 Q3’20 $M (except EPS) Actual Actual Guidance Revenue $334.0 $388.3 $330M - $350M Non-GAAP Gross Margin % 39.5% 42.9% 42.0% - 44.0% Non-GAAP Op Expenses $99.2 $89.2 $88M - $91M Non-GAAP EPS $0.83 $2.04 $1.30 - $1.60 GAAP Gross Margin % 34.7% 41.0% 39.5%
Slide 10: Revenue Trend
Revenue Trend Guidance Mid-Point $ Millions © 2020 Synaptics Incorporated 10
Slide 11: Non-GAAP Net Income & EPS Fiscal Quarter Trend
Non-GAAP Net Income & EPS Fiscal Quarter Trend Guidance Mid-Point See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures © 2020 Synaptics Incorporated 11
Slide 12: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables Q2'20 Q1'20 Q4'19 Q3'19 Q2'19 Actual Actual Actual Actual Actual GAAP gross margin $ 159.3 $ 126.2 $ 90.4 $ 116.0 $ 149.8 Acquisition related costs 8.2 15.3 15.3 15.2 15.1 Loss/(recovery) on supply commitment (1.8) (1.2) 9.0 - - Retention program costs 0.2 0.1
Slide 13: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued Q2'20 Q1'20 Q4'19 Q3'19 Q2'19 Actual Actual Actual Actual Actual GAAP net income/(loss) $ 19.8 $ 4.0 $ (46.2) $ 6.7 $ 12.8 Share-based compensation 15.1 11.2 10.3 15.8 16.2 Acquisition/divestiture related costs 12.6 18.2 18.6 18.5 18.4 Loss/(recover
Slide 14: © 2020 Synaptics Incorporated
© 2020 Synaptics Incorporated