Fabrinet · NYSE:FN
Fabrinet — Q3 2025 Earnings Presentation
16 slides from Fabrinet's earnings presentation, May 5, 2025
Slide 1: Company Overview
COMPANY OVERVIEW May 5, 2025 1
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than statements of historical
Slide 3: Fabrinet Overview
Fabrinet Overview ❑ Global leader in advanced precision optical/ electronic/mechanical manufacturing services ❑ Focus on high-mix/low-volume mission-critical components and modules ❑ Serving growing industrial markets VitroCom Fabrinet West ▪ Telecom and Datacom Optical Communications Santa Clara Ne
Slide 4: Markets and Products
Markets and Products Optical Automotive Industrial Lasers Other Communications ◼ EV Charging ◼ Lasers ◼ Medical ◼ Transceivers Diagnostics ◼ LIDAR ◼ Solid-State Lasers ◼ Modulators ◼ Metrology & ◼ LED & Laser ◼ Gas Lasers ◼ Optical Amplifiers Lighting Instrumentation ◼ Ultrafast Lasers ◼ ROADM ◼ Saf
Slide 5: Efficient Global Manufacturing Footprint
Efficient Global Manufacturing Footprint Precision Optical and Electronic Custom Optics Packaging and Assembly Casix, China Vitrocom, NJ, USA Pinehurst Campus, Thailand Quickturn NPI Services Fabrinet Israel Fabrinet West, CA, USA Chonburi Campus, Thailand 5
Slide 6: Investment Highlights
Investment Highlights ✓ Large and growing addressable markets ✓ Differentiated business model with low-cost structure ✓ Highly differentiated expertise in precision manufacturing technologies enabling next-generation products ✓ Strong relationships with industry-leading OEMs ✓ Demonstrated track rec
Slide 7: Strong Revenue Trends
Strong Revenue Trends QUARTERLY CONSOLIDATED REVENUE ($M) 1,000 833.6 871.8 900 753.3 804.2 800 685.5 712.7 731.5 655.9 655.4 668.7 665.3 700 587.9 600 500 400 300 200 100 0 Jun '22 Jun '23 Jun'24 Sep'22* Sep'23 Sep'24 Dec'22 Dec'23 Dec'24 Mar'23 Mar'24 Mar'25** Optical communications Non-optical co
Slide 8: Consistent Profitability
Consistent Profitability NON-GAAP GROSS MARGIN AND NON-GAAP OPERATING MARGIN (1) % of Sales 15.0% 13.0% 12.6% 12.6% 12.0% 10.8% 10.6% 10.7% 10.2% 10.0% 5.0% 0.0% FY2023 FY2024 3Q24 3Q25 Gross margin Operating margin RETURN ON INVESTED CAPITAL (2) 50.0% 40.2% 35.7% 39.1% 40.0% 32.6% 30.0% 20.0% 10.0%
Slide 9: Recent Financial Performance
Recent Financial Performance Key Financials • Q3 revenue of $871.8 million exceeded guidance and was a $Millions (USD), except per share figures 3 months ended new record 28-Mar-25(1) 29-Mar-24 Revenue $871.8 $731.5 • Q3 non-GAAP operating margin Y-o-Y change 19% 10% was 10.2% Gross profit (non-GAAP
Slide 10: Strong Balance Sheet Supports Growth Strategy
Strong Balance Sheet Supports Growth Strategy Selected Items $Millions (USD) As of March 28, 2025 Cash, cash equivalents (1) $950.7 Working capital (2) $668.4 Property, plant & equipment, net $354.5 Total debt (3) $0.0 Total shareholders’ equity $1,907.2 (1) Cash & cash equivalents include marketabl
Slide 11: Revenue Mix
Revenue Mix F3Q23 F4Q23 F1Q24 F2Q24 F3Q24 F4Q24 F1Q25 F2Q25 F3Q25 Optical Communications 76% 77% 78% 80% 81% 79% 78% 78% 75% Datacom 24% 38% 45% 51% 52% 53% 53% 46% 38% Telecom 76% 62% 55% 49% 48% 47% 47% 54% 62% Non-Optical Communications 24% 23% 22% 20% 19% 21% 22% 22% 25% Optical and non-optical
Slide 12: Revenue by Product Category
Revenue by Product Category Revenue in $Millions (USD) F3Q23 F4Q23 F1Q24 F2Q24 F3Q24 F4Q24 F1Q25 F2Q25 F3Q25 Optical $502.6 $502.1 $533.3 $567.9 $591.4 $596.4 $626.3 $647.1 $657.2 Communications Datacom 122.4 192.5 242.0 288.1 305.5 314.7 328.9 299.1 251.1 Telecom 380.2 309.6 291.2 279.8 286.0 281.7
Slide 13: Optical Communications Revenue
Optical Communications Revenue Revenue by Technology in $Millions (USD) F3Q23 F4Q23 F1Q24 F2Q24 F3Q24 F4Q24 F1Q25 F2Q25 F3Q25 Silicon Photonics $108.7 $88.1 $88.5 $97.9 $111.9 $90.5 $90.7 $122.4 $135.3 Non-Silicon Photonics 393.9 414.0 444.8 470.0 479.5 505.9 535.6 524.7 521.9 Total Optical $502.6 $
Slide 14: Appendix
Appendix 14
Slide 15: Non-GAAP Reconciliation of Gross Margin and Operating Margin
Non-GAAP Reconciliation of Gross Margin and Operating Margin Reconciliation of GAAP Gross Profit and GAAP Gross Margin to Non-GAAP Gross Profit and Non-GAAP Gross Margin (in thousands of U.S. dollars) Three Months Ended Twelve Months Ended March 28, December 27, March 29, June 30, 2024 June 30, 2023
Slide 16: Non-GAAP Reconciliation of Net Profit and EPS
Non-GAAP Reconciliation of Net Profit and EPS Reconciliation of GAAP measures to non-GAAP measures (in thousands of U.S. dollars, except per share data) FQ3'25 FQ2'25 FQ3'24 March 28, 2025 December 27,2024 March 29, 2024 Net income Diluted EPS Net income Diluted EPS Net income Diluted EPS GAAP measu