Diodes Incorporated · NASDAQ:DIOD
Diodes — Diodes Inc /Del/ — Q2 2022 Earnings Presentation
18 slides from Diodes's earnings presentation, Aug 5, 2022
Slide 1: Second Quarter 2022 Financial Results
Second Quarter 2022 Financial Results Diodes Incorporated (DIOD) August 4, 2022 Exhibit 99.1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above 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
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 Second Quarter 2022 Financials
Record Second Quarter 2022 Financials Revenue - a record $501 million; increasing 13.7% year-over and 3.9% sequentially GAAP gross profit - a record $206.5 million; increasing 29.2% year-over-year and 5% sequentially GAAP gross profit margin - a record 41.2%; increasing 490bp year-over-year and 40bp
Slide 5: Delivering Shareholder Value
Delivering Shareholder Value Gross margin improved 490bp year-over-year to 41.2%; the 2nd consecutive quarter above target model of 40% 2Q’22 represented 6th consecutive quarter of record revenue, gross profit and earnings despite the COVID-related quarantine in China and Taiwan that constrained pro
Slide 6: Targeted Market Segment Distribution
Targeted Market Segment Distribution Goal Automotive (8 consecutive quarters of growth) Connected driving, comfort/style/safety, electrification/powertrain Industrial (5 consecutive quarters of growth) Embedded systems and precision controls Consumer IoT: wearables, home automation, smart infrastruc
Slide 7: Expanding Profitability Growth
Expanding Profitability Growth
Slide 8: Consistent Quarterly Performance
Consistent Quarterly Performance
Slide 9: Driving Significant Earnings Leverage
Driving Significant Earnings Leverage
Slide 10: 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 Target: $1B Gross profit Gross Margin: 40% Revenue: $2.5B by 2025
Slide 11: Revenue Profile for Second Quarter 2022
Revenue Profile for Second Quarter 2022 By End Market Computing Consumer Industrial Communications Automotive By Channel Distribution Direct By Region Asia Europe Americas 19% 16% 24% 27% 14% 71% 29% 74% 14% 12%
Slide 12: Income Statement – Second Quarter 2022
Income Statement – Second Quarter 2022 Record Performance ($ in millions, except per share amounts) 2Q21 1Q22 2Q22 Net sales 440.4 482.1 501.0 Gross profit (GAAP) 159.8 196.7 206.5 Gross profit margin % (GAAP) 36.3% 40.8% 41.2% Net income (GAAP) 55.4 72.7 80.2 Net income (non-GAAP) 54.6 80.3 86.9 Di
Slide 13: Balance Sheet
Balance Sheet ($ in millions) Dec 31, 2020 Dec 31, 2021 June 30, 2022 Cash plus short-term investments 327 373 316 Inventory 307 349 371 Current Assets 1,024 1,188 1,215 Total Assets 1,980 2,194 2,285 Total Debt (L/T, S/T, Line of Credit) 451 301 265 Total Liabilities 963 892 868 Total Equity 1,016
Slide 14: Third Quarter 2022 Business Outlook
Revenue to be ~$521 million, +/- 3.0% Order demand and backlog remains very strong going into the third quarter GAAP gross margin of 41.5%, +/- 1% on a consolidated basis Non-GAAP operating expenses 20.5% of revenue, +/- 1%, which are GAAP operating expenses adjusted for amortization of acquisition-
Slide 15: 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 16: Thank you
Thank you
Slide 17: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income Note: Included in GAAP and non-GAAP net income was approximately $6.8 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensation expense, both GAAP and non-GAAP diluted earnings per share would have improved
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation For the three months ended June 30, 2022: (in thousands, except per share data) (unaudited) Note: Included in GAAP and non-GAAP adjusted net income was approximately $6.8 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensatio