Vistance Networks, Inc. · NASDAQ:VISN
Vistance Networks — CommScope Holding Company — Q1 2025 Earnings Presentation
20 slides from Vistance Networks's earnings presentation, May 1, 2025
Slide 1: First Quarter 2025 Results
May 1, 2025 First Quarter 2025 Results
Slide 2: Important information
Important information Caution Regarding Forward Looking Statements This presentation includes certain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amende
Slide 3: First quarter results
First quarter results • Net Sales increased due to market growth, CommScope NEXT growth initiatives and customer inventory normalization • Net sales of $1.112 billion, increasing 23% from prior year • Core (1) Adjusted EBITDA improved sequentially for the fourth consecutive quarter • Core (1) adjust
Slide 4: First quarter results
First quarter results (1) CommScope Core CommScope(2) (In $millions) “Continuing Operations” (In $millions, except per share amounts) 1Q’24 1Q’25 Y/Y Change 1Q’24 1Q’25 Y/Y Change Results Results Results Results Net Sales $901 $1,112 +23% Net Sales $901 $1,112 +23% Adj. EBITDA(3) $95 $245 +159% Adj.
Slide 5: First quarter Core business highlights
First quarter Core business highlights Business Segment Net Sales ($M) Y-Y% Adj. EBITDA(1) ($M) Y-Y% Observations 1Q’24 1Q’25 1Q’24 1Q’25 • YoY revenue growth of 20% driven by cloud and hyperscale datacenter growth including GenAI projects Connectivity and CCS +20% +87% • EBITDA margin percentage cl
Slide 6: Cash flow update
Cash flow update (1) GAAP Cash Flow from Operations ($M) Free Cash Flow ($M) $271 $278 $46 $115 $51 $122 $(184) $(202) $(178) ($187) 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 • As expected, there was a significant use of cash during the first quarter driven by working capital needs
Slide 7: Strong liquidity & balance sheet management
Strong liquidity & balance sheet management Debt Maturities (as of 3/31/25) Cash & liquidity remain strong Secured Debt Unsecured Debt ($ millions) • Ended the quarter with available ◼ ABL ◼ 5.00% Notes due 2027 liquidity over $856 million ◼ Term Loan B ◼ 8.25% Notes due 2027 • No outstanding ABL re
Slide 8: Closing Remarks
Closing Remarks Chuck Treadway President and Chief Executive Officer 7 © 2025 CommScope, LLC. All rights reserved. | CommScope, ARRIS and t he ARRIS l ogo are trademarks of CommScope, Inc. and/or its affiliates. All other trademarks are t he property of thei r respective owners.
Slide 9: Q&A
Q&A First Quarter 2025 Results 8 © 2025 CommScope, LLC. All rights reserved. | CommScope, ARRIS and t he ARRIS l ogo are trademarks of CommScope, Inc. and/or its affiliates. All other trademarks are t he property of thei r respective owners.
Slide 10: Appendix
COMMSCOPE’ Appendix
Slide 11: Condensed Consolidated Statements of Operations
CommScope Holding Company, Inc. Condensed Consolidated Statements of Operations (Unaudited -- In millions, except per share amounts) Three Months Ended March 31, 2025 2024 Statements of Net sales Cost of sales Gross profit $ 1,112.2 643.6 468.6 $ 900.9 605.8 295.1 Operations Transition service agree
Slide 12: Condensed Consolidated Balance Sheets
CommScope Holding Company, Inc. Condensed Consolidated Balance Sheets (In millions, except share amounts) Unaudited March 31, 2025 December 31, 2024 Assets Cash and cash equivalents $ 493.3 $ 564.9 Balance Sheets Accounts receivable, net of allowance for doubtful accounts of $13.1 and $16.5, respect
Slide 13: Condensed Consolidated Statements of Cash Flows
CommScope Holding Company, Inc. Condensed Consolidated Statements of Cash Flows (1) (Unaudited -- In millions) Three Months Ended March 31, Statements of Operating Activities: 2025 2024 Net income (loss) $ 784.0 $ (333.7) Cash Flows Adjustments to reconcile net income (loss) to net cash used in oper
Slide 14: Adjusted EBITDA and Adjusted Net Income Reconciliation
CommScope Holding Company, Inc. Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures (Unaudited -- In millions, except per share amounts) Three Months Ended March 31, Adjusted EBITDA and Income (loss) from continuing operations, as reported Income tax expense (benefit), as reported $ 2025 2
Slide 15: Sales by Region
Sales by Region Sales by Region (Unaudited -- In millions) Sales by Region % Change Q1 2025 Q1 2024 YOY United States $ 767.6 $ 589.8 30.1 % Europe, Middle East and Africa 146.2 134.6 8.6 Asia Pacific 113.2 110.1 2.8 Caribbean and Latin America 43.7 44.2 (1.1) Canada 41.5 22.2 86.9 Total net sales $
Slide 16: Sales and Adjusted EBITDA by Segment
CommScope Holding Company, Inc. Segment Information (Unaudited -- In millions) Sales and Adjusted Segment Net Sales % Change EBITDA by Segment CCS $ Q1 2025 724.1 $ Q1 2024 604.7 YOY 19.7 % NICS 163.1 108.2 50.7 ANS 225.0 188.0 19.7 Total net sales $ 1,112.2 $ 900.9 23.5 % (1) Segment Adjusted EBITD
Slide 17: Adjusted EBITDA Reconciliation by Segment
CommScope Holding Company, Inc. Reconciliation of GAAP to Segment Adjusted EBITDA (Unaudited -- In millions) First Quarter 2025 Segment Adjusted EBITDA Reconciliation Adjusted EBITDA CCS NICS ANS Corporate and other (1) Total Reconciliation by Operating income (loss), as reported Amortization of pur
Slide 18: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation CommScope Holding Company, Inc. Free Cash Flow (Unaudited -- In millions) (1) Free Cash Flow Q1 Q2 Q3 Q4 Q1 2024 2024 2024 2024 2025 Cash flow from operations $ (177.7) $ 50.8 $ 122.2 $ 277.8 $ (186.9) Capital expenditures (6.0) (5.3) (6.7) (7.3) (15.5) Free cash flow (
Slide 19: Adjusted Gross Profit and Adjusted Operating Expense Reconciliations
Adjusted Gross Profit CommScope Holding Company, Inc. and Adjusted Operating Adjusted Gross Profit and Adjusted Operating Expense (Unaudited -- In millions) Expense Reconciliations GAAP to Non-GAAP Adjusted Gross Profit Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Gross profit, as reported $ 295.1 $ 399.
Slide 20: Adjusted EBITDA Outlook Reconciliation
CommScope Holding Company, Inc. Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures (Unaudited -- In millions) Consolidated Adjusted EBITDA Outlook Reconciliation Adjusted EBITDA Outlook Range Outlook Reconciliation Operating income Adjustments: $ 624 2025 $ 660 Amortization of purchased i
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