Diodes Incorporated · NASDAQ:DIOD
Diodes — Diodes Inc /Del/ — Q4 2021 Earnings Presentation
19 slides from Diodes's earnings presentation, Mar 8, 2022
Slide 1: Fourth Quarter 2021 Financial Results
Fourth Quarter 2021 Financial Results Diodes Incorporated (DIOD) February 9, 2022 Exhibit 99.1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Any statements set forth herein that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements include, but are
Slide 3: About Diodes Incorporated
About Diodes Incorporated Vision: Profitability Growth to Maximize Shareholder Value Our Core Values: Integrity, Commitment, Innovation Diodes delivers high-quality semiconductor products to the world’s leading companies in the consumer electronics, computing, communications, industrial, and automot
Slide 4: Record Fourth Quarter 2021 Financials
Record Fourth Quarter 2021 Financials Revenue - a record $480.2 million; increasing 37% year-over and 2% sequentially GAAP gross profit - a record $190.7 million; increasing 55% year-over-year and 5% sequentially GAAP gross profit margin - a record 39.7%; increasing 470bp year-over-year and 130bp se
Slide 5: Record Full Year 2021 Financials
Record Full Year 2021 Financials Revenue - a record $1.81 billion, increasing 47% over 2020 GAAP gross profit - a record $670.4 million; increasing 56% year-over-year GAAP gross profit margin – 37.1%; increasing 200bp over prior year GAAP net income – a record $228.8 million, increasing 133% over 20
Slide 6: Delivering Shareholder Value
Delivering Shareholder Value Full year revenue grew 47%, gross profit 56%, with GAAP EPS expanding 166% and non-GAAP diluted EPS expanding 120% 4Q’21 represented 5th consecutive quarter of record revenue; full year 2021 revenue also a record Achieved record revenue in the Automotive, Industrial, Com
Slide 7: Targeted Market Segment Distribution
Targeted Market Segment Distribution Goal Automotive (6 consecutive quarters of growth) Connected driving, comfort/style/safety, electrification/powertrain Industrial (3 consecutive quarters of growth) Embedded systems and precision controls Consumer IoT: wearables, home automation, smart infrastruc
Slide 8: Expanding Profitability Growth
Expanding Profitability Growth Track record of Continued Outperformance Annual Revenue CAGR: 14% (2005 - 2021) Gross Profit CAGR: 15% (2005 - 2021)
Slide 9: Consistent Quarterly Performance
Consistent Quarterly Performance Quarterly Revenue ($ Millions) Quarterly Gross Profit ($ Millions)
Slide 10: Driving Significant Earnings Leverage
Driving Significant Earnings Leverage +47% Revenue Non-GAAP EPS +120% $1,805M $1,229M $5.18 $2.35
Slide 11: On-Track to Achieve Longer Term Corporate Objectives
On-Track to Achieve Longer Term Corporate Objectives Goal 1: $1B Market Cap Goal 2: $1B Annual Revenue Goal 3: $1B Gross Profit Goal 4: $1B Profit Before Tax $1B Market Cap $1B Revenue $1B Gross Profit $1B PBT - 2010 - 2017 2025 Targets Gross Profit: $1B Gross Margin: 40% Revenue: $2.5B by 2025
Slide 12: Revenue Profile for Fourth Quarter 2021
Revenue Profile for Fourth Quarter 2021 By End Market By Channel Distribution Direct 69% 31% By Region 78% 13% 9% Asia Pacific Europe Americas
Slide 13: Income Statement – Fourth Quarter 2021
Income Statement – Fourth Quarter 2021 Record Performance ($ in millions, except per share amounts) 4Q20 3Q21 4Q21 Net sales 350.4 471.4 480.2 Gross profit (GAAP) 122.7 181.2 190.7 Gross profit margin % (GAAP) 35.0% 38.4% 39.7% Net income (GAAP) 29.7 68.4 65.5 Net income (non-GAAP) 37.3 67.3 73.3 Di
Slide 14: Balance Sheet
Balance Sheet ($ in millions) Dec 31, 2019 Dec 31, 2020 Dec 31, 2021 Cash/Cash equivalents/restricted cash plus short-term investments 264 327 373 Inventory 236 307 349 Current Assets 810 1,024 1,188 Total Assets 1,639 1,980 2,194 Total Debt (L/T, S/T, Line of Credit) 111 451 301 Total Liabilities 4
Slide 15: First Quarter 2022 Business Outlook
Revenue to increase to ~$480 million, +/- 3.0% which at the mid-point is better than typical seasonality of down 5 percent GAAP gross margin of 39.7%, +/- 1% on a consolidated basis Non-GAAP operating expenses 21.0% of revenue, +/- 1%, which are GAAP operating expenses adjusted for amortization of a
Slide 16: Investment Summary
Investment Summary Vision: Expand shareholder value Mission: Profitability growth to drive 20% operating profit Next Strategic Goal: $1B gross profit Tactics: Total system solutions sales approach and content expansion driving growth Increased focus on high-margin Automotive, Industrial and Pericom
Slide 17: Thank you
Thank you
Slide 18: GAAP to Non-GAAP Reconciliation – Twelve Months Ended Dec. 31, 2021
GAAP to Non-GAAP Reconciliation For the twelve months ended Dec. 31, 2021
Slide 19: GAAP to Non-GAAP Reconciliation – Twelve Months Ended Dec. 31, 2020
GAAP to Non-GAAP Reconciliation For the twelve months ended Dec. 31, 2020