Synaptics Incorporated · NASDAQ:SYNA

Synaptics — Q3 2023 Earnings Presentation

17 slides from Synaptics's earnings presentation, May 3, 2023

  1. Slide 1: Third Quarter Fiscal 2023 Earnings Supplemental Slides

    Third Quarter Fiscal 2023 Earnings SUPPLEMENTAL SLIDES MAY 3, 2023

  2. 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, and the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations and projections relatin

  3. Slide 3: High-Performance IoT Semiconductor Solutions Leader

    High-Performance IoT Semiconductor Solutions Leader Analog Mixed Signal IoT Product Best-in-Class Revenue Semiconductors Applications Margin Profile Broad Product YTD FY23 IoT – YTD FY23 Non-GAAP YTD FY23 Revenue – Portfolio 72% of total Gross Margin – 61.1% down 11% YoY revenues ___________________

  4. Slide 4: Technology Leadership Across The Product Portfolio

    Technology Leadership Across The Product Portfolio Wireless Connectivity Automotive Video Interface Virtual Reality Headsets PC Touchpad / Audio Processors Mobile Video Processors Biometric Fingerprint © 2023 Synaptics Incorporated 4

  5. Slide 5: YoY Financial Performance

    YoY Financial Performance • 3-year IoT revenue CAGR of 45% • Best-in-class GAAP and non-GAAP gross margin; 5th consecutive quarter with non-GAAP gross margin near or above 60% • Solid non-GAAP diluted earnings per share IoT Revenue ($M) Gross Margin EPS 61.1% $3.75 $302 60.3% 3-yr CAGR – 45% ~16 poi

  6. Slide 6: Q3'FY23 Financial Highlights

    Q3’FY23 Financial Highlights • Revenue of $326.6 million, down 31% YoY • IoT Revenue was down less at -23% YoY and accounted for 71% of total revenue $42 • Solid GAAP and non-GAAP gross margin – GAAP gross margin of 52.8% $53 – Non-GAAP gross margin of 60.3% Q3’FY23 $327M • GAAP diluted earnings per

  7. Slide 7: Q3'FY23 Business Highlights

    Q3’FY23 Business Highlights • Major US and European Automotive OEMs are engaged on our SmartBridge with ‘local dimming’ device for next-generation infotainment displays • New program ramp for high-end Touch controllers with Korea customer • Expanded the Triple Combo family of wireless devices – new

  8. Slide 8: Quarterly Revenue Trend

    Quarterly Revenue Trend Total Revenue ($M) IoT Revenue Mix $470 $476 76% $448 71% 70% $421 68% 64% 62% $373 $353 55% 54% $328 $327 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Note: As-reported, not proforma for any acquisition/divestiture activity

  9. Slide 9: Quarterly Gross Margin Trend

    Quarterly Gross Margin Trend Non-GAAP Gross Margin GAAP Gross Margin 62.6% 57.1% 55.9% 61.1% 61.0% 60.3% 54.0% 59.5% 59.8% 53.5% 53.2% 52.9% 52.8% 52.1% 58.0% 57.5% Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Note: As-reported, not proforma for any

  10. Slide 10: Quarterly Earnings Per Share Trend

    Quarterly Earnings Per Share Trend Non-GAAP Earnings Per Share GAAP Earnings Per Share $3.87 $3.75 $2.04 $3.52 $3.26 $1.71 $1.59 $1.59 $2.68 $2.18 $2.20 $1.89 $0.99 $0.55 $0.48 $0.26 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Note: As-reported, no

  11. Slide 11: Q3'FY23 Financial Results

    Q3’FY23 Financial Results $M (except EPS) Q3’22 Q2’23 Q3’23 QoQ YoY Revenue $470.1 $353.1 $326.6 (8%) (31%) GAAP Gross Margin % 54.0% 52.9% 52.8% -10 bps -120 bps GAAP Operating Expenses $165.7 $140.6 $138.1 (2%) (17%) GAAP EPS Diluted $1.59 $0.55 $0.26 (53%) -84% Non-GAAP Gross Margin % 61.1% 59.8%

  12. Slide 12: Q3'FY23 Balance Sheet

    Q3’FY23 Balance Sheet In Millions Q4’22 Q2’23 Q3’23 Cash & ST Investments $876.0 $858.9 $933.9 AR $322.1 $255.0 $218.2 Inventory $169.7 $177.5 $147.8 PP&E $62.9 $65.9 $69.0 Other $1,427.4 $1,368.0 $1,345.8 Total Assets $2,858.1 $2,725.3 $2,714.7 Current Liabilities (excluding debt) $457.4 $293.3 $26

  13. Slide 13: Q4'FY23 Guidance

    Q4’FY23 Guidance $M (except EPS) GAAP Non-GAAP Revenue $210M - $240 NA Gross Margin* 44.0% - 47.0% 56.0% - 58.0% Operating Expenses** $138 - $143 $98 - $102 EPS Diluted*** ($0.55) - ($0.85) $0.25 - $0.65 Revenue mix IoT 57% NA PC 19% NA Mobile 24% NA * Projected Non-GAAP gross margin excludes $25.0

  14. Slide 14: Appendix

    Appendix

  15. Slide 15: GAAP to Non-GAAP Reconciliation Tables

    GAAP to Non-GAAP Reconciliation Tables Q3'23 Q2'23 Q1'23 Q4'22 Q3'22 Q2'22 Q1'22 Q4'21 Q3'21 Q2'21 Q1'21 Q3'20 Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual GAAP gross margin $ 172.3 $ 186.7 $ 255.7 $ 266.1 $ 253.8 $ 225.1 $ 198.1 $ 170.8 $ 155.5 $ 150.4 $ 134.5

  16. Slide 16: GAAP to Non-GAAP Reconciliation Tables - continued

    GAAP to Non-GAAP Reconciliation Tables - continued Q3'23 Q2'23 Q1'23 Q4'22 Q3'22 Q2'22 Q1'22 Q4'21 Q3'21 Q2'21 Q1'21 Q3'20 Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual GAAP net income $ 10.4 $ 22.0 $ 64.6 $ 82.9 $ 64.9 $ 69.5 $ 40.2 $ 19.0 $ 13.8 $ 49.6 $ (2.8)

  17. Slide 17: Engineering Exceptional Experiences

    Engineering Exceptional Experiences © 2023 Synaptics Incorporated 17

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