Alpha And Omega Semiconductor Limited · NASDAQ:AOSL
Alpha And Omega Semiconductor — Investor Presentation (August 2021)
22 slides from Alpha And Omega Semiconductor's investor presentation, August 2021
Slide 1: Investor Presentation August 2021
INVESTOR PRESENTATION August 2021 (Nasdaq: AOSL) AOS Confidential
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated product performance. These forward-looking statement
Slide 3: Emerging total solution provider in >$40B market
ALPHA AND OMEGA SEMICONDUCTOR (NASDAQ: AOSL) Emerging total solution provider in >$40B market Solid foundation enabling accelerated growth Strong pipeline with major growth drivers Consistent execution approaching target model AOS Confidential 3
Slide 4: Large and Growing Market for Power
LARGE AND GROWING MARKET FOR POWER $45B $40B $35B Automotive $30B $25B Industrial $20B $15B Communications $10B Consumer $5B Computing $B 2016 2017 2018 2019 2020 2021 2022 2023 2024 Source: IHS 2019 • Calendar year base, AOS Confidential 4
Slide 5: Diversified Product Portfolio for Power
DIVERSIFIED PRODUCT PORTFOLIO FOR POWER + Multiphase Controller Co-packaged Power IC and Modules High Voltage + IGBT Mid Voltage Low Voltage Voltage 40V 400V 1350V AOS Confidential 5
Slide 6: Built for Scale
BUILT FOR SCALE Oregon 8” Fab Shanghai A&T CQ JV: 12” Fab + A&T 6 AOS Confidential
Slide 7: Accelerating Growth
ACCELERATING GROWTH $1B CAGR ECONOMY OF SCALE 10~15%* $600M Server and Industrial market leader with $443M REACH Digital Power and IGBT CRITICAL MASS BUILT INFRASTRUCTURE Mobile Power Computing Power market leader market leader 2018-2024 AOS Revenue CY2018 CY2021 CY2024/2025 *Calendar year base, Com
Slide 8: Focused Markets (as of Q4 FY2021)
FOCUSED MARKETS (AS OF Q4 FY2021) Communications Power Supply / Industrial ▪ Smartphone ▪ Quick Chargers / PD ▪ Telecom 19% ▪ Power Tools 15% ▪ AC/DC 23% Consumer Computing ▪ Home Appliance ▪ Notebook / PC 43% ▪ Gaming ▪ Graphics Card ▪ TV ▪ Server / AI Chart excludes ‘Service and Others’ of 2% AOS
Slide 9: Compute: Share Gains, High Value Migration
COMPUTE: SHARE GAINS, HIGH VALUE MIGRATION COMPUTING EXPANDING BOM ▪ Market leader ▪ High performance MOSFET and PIC CPU Vcore ▪ Expanding BOM Graphic Cards DDR Memory PD Adapter SAM: $1B+ System Power Type C Battery Protection AOS Confidential 9
Slide 10: Strategic Alignment with Global OEMs
STRATEGIC ALIGNMENT WITH GLOBAL OEMS MOBILE POWER BATTERY PROTECTION QUICK CHARGER Supply all major smartphone vendors SAM: $0.6B+ • Safe operation • AOS 1st to support QC • Longer battery life • 10W → 18W+ • Robust performance • High performance MV FET AOS Confidential 10
Slide 11: Intelligent Modules for Home Appliances
INTELLIGENT MODULES FOR HOME APPLIANCES HOME APPLIANCE SIZE COMPARISON AOS IPM Solution with IGBT offers: 17 chips inside! • Smaller Footprint mm2 • Better Efficiency • Higher ESD and Reliability 1000 179% 900 800 151% 700 123% 600 Refrigerators, Washers / Dryers, 100% Air-con Fans 500 SAM: $2B+ 400
Slide 12: Financials
FINANCIALS AOS Confidential
Slide 13: Accelerated Growth Momentum – Revenue
ACCELERATED GROWTH MOMENTUM – REVENUE (in $millions) +19% +35% +58% +45% 180.0* 169.2 177.3 158.8 151.6 117.9 122.4 106.9 Dec Q 2019 Dec Q 2020 Mar Q 2020 Mar Q 2021 Jun Q 2020 Jun Q 2021 Sep Q 2020 Sep Q 2021 * Mid point of revenue guidance for Sep Q 2021 AOS Confidential 13
Slide 14: Accelerated Growth Momentum – Non-GAAP EPS
ACCELERATED GROWTH MOMENTUM – NON-GAAP EPS +73% +600% +228% +183% 0.95 0.95* 0.65 0.77 0.55 0.23 0.29 0.11 Dec Q 2019 Dec Q 2020 Mar Q 2020 Mar Q 2021 Jun Q 2020 Jun Q 2021 Sep Q 2020 Sep Q 2021 * Current consensus for Sep 2021 Note: Non-GAAP EPS excludes share-based compensation expenses, productio
Slide 15: Accelerated Growth Momentum – EBITDAS
ACCELERATED GROWTH MOMENTUM – EBITDAS (in $millions) Non-GAAP Net Income $136 EBITDAS $80 $56 $55 $51 $52 $28 $30 $33 $23 $20 $2 FY16 FY17 FY18 FY19 FY20 FY21 Note: Non-GAAP net income excludes share-based compensation expenses, production ramp up costs and pre-production costs related to joint vent
Slide 16: JV: Alleviating Capacity Constraints
JV: ALLEVIATING CAPACITY CONSTRAINTS ▪ Enabling us to meet surging demand CHONGQING JV $379M Total Capitalization ▪ JV achieved positive EBITDA for five consecutive quarters ▪ Fully ramp up Phased 1 by Sep Q 2021 AOS (51%) CHONGQING (49%) ▪ Phase 1 can support additional $35M cash $186M cash $150M A
Slide 17: Key Financial Items Breakdown
KEY FINANCIAL ITEMS BREAKDOWN (in $ millions) JUN 2019 JUN 2020 JUN 2021 AOS CQJV Consolidated AOS CQJV Consolidated AOS CQJV Consolidated CASH 100.7 21.2 121.9 110.3 48.2 158.5 164.9 37.5 202.4 DEBT 41.0 99.9* 140.9 32.6 139.4* 172.0 24.3 141.1* 165.4 INVENTORY 93.8 17.8 111.6 97.6 37.9 135.5 100.2
Slide 18: Approaching Target Model
APPROACHING TARGET MODEL NON-GAAP MODEL CY2021 CY2024/2025 REVENUE >$600 MILLION $1 BILLION GROSS MARGIN* >30% >30% OPERATING EXPENSE** ~20% ~20% Target model is subject to general and overall market conditions. * NonGAAP gross margin excludes share-based compensation expenses and production ramp up
Slide 19: Emerging total solution provider in >$40B market
ALPHA AND OMEGA SEMICONDUCTOR (NASDAQ: AOSL) Emerging total solution provider in >$40B market Solid foundation enabling accelerated growth Strong pipeline with major growth drivers Consistent execution approaching target model AOS Confidential 19
Slide 20: Q&A
ALPHA & OMEGA SEMICONDUCTOR Q&A AOS Confidentia
Slide 21: Appendix
ALPHA & OMEGA SEMICONDUCTOR APPENDIX AOS Confidentia
Slide 22: Everyone Needs Power
EVERYONE NEEDS POWER WORLD CLASS OEMS / ODMS KEY DISTRIBUTORS (a member of) AOS Confidential 22
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