Slide 1: Q2 Earnings Presentation
Q2 EARNINGS PRESENTATION AUGUST 1, 2024
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and discussion contain forward-looking statements, including our expectations for the future market for our products, revenues, profits, and other results that are forward-looking statements under the SEC’s safe harbor provision. These forward-looking statemen
Slide 3: Q2 Highlights
Q2 HIGHLIGHTS REVENUE DILUTED EPS $257M $1.55 Better than expected conversion of evaluation systems into revenue Continued robust demand for Ion Implantation systems for Silicon Carbide (SiC) market Strong margins led by higher volume and prudent cost control 3
Slide 4: Systems Revenue by Segment
SYSTEMS REVENUE BY SEGMENT Q2 SYSTEMS REVENUE OF $199M ma tur r en we o po de 30% GENERAL MATURE s 15% SILICON IGBT 5% IMAGE SENSOR 2% ADVANCED LOGIC 47% SILICON CARBIDE (SiC) 4
Slide 5: Mature Process Technology Nodes
MATURE PROCESS TECHNOLOGY NODES 98% OF TOTAL SYSTEM REVENUE IN Q2 2024 POWER GENERAL MATURE IMAGE SENSOR 63% OF TOTAL SYSTEM REVENUE IN Q2 2024 30% OF TOTAL SYSTEM REVENUE IN Q2 2024 5% OF TOTAL SYSTEM REVENUE IN Q2 2024 • EVs and Hybrid EVs a key driver of Power • 1H 2024 demand relatively consiste
Slide 6: Advanced Logic & Memory Technology
ADVANCED LOGIC & MEMORY TECHNOLOGY ADVANCED LOGIC MEMORY 2% OF TOTAL SYSTEM REVENUE IN Q2 2024 NO REVENUE IN Q2 2024 • Significant progress in our Advanced Logic DRAM strategy: • Initial stages of recovery expected in Q4 • Successfully closed a Purion Dragon evaluation unit in Advanced R&D • Growing
Slide 7: Well-Positioned for Long-Term Growth
WELL-POSITIONED FOR LONG-TERM GROWTH SECULAR GROWTH IN POWER – PARTICULARLY SILICON CARBIDE (SiC) MARKET RECOVERY IN MEMORY MARKET RECOVERY IN GENERAL MATURE SHARE GAIN IN ADVANCED LOGIC GEOGRAPHIC EXPANSION TO JAPAN 7
Slide 8: Q2 Revenue Detail
Q2 REVENUE DETAIL (in millions) Q2 2023 Q1 2024 Q2 2024 Systems Revenue $215.2 $195.4 $198.6 CS&I Revenue $58.8 $56.9 $57.9 Total Revenue $274.0 $252.4 $256.5 Systems Bookings $193.0 $107.1 $105.1 Systems Backlog $1,233.6 $1,121.4 $994.1 Geographic Breakdown (% of Systems Revenue) China 56% 59% 55%
Slide 9: Q2 Additional Financial Detail
Q2 ADDITIONAL FINANCIAL DETAIL Select Income Statement Select Balance Sheet & Cash information (in millions) Q2 2023 Q1 2024 Q2 2024 Flow Information (in millions) Q2 2023 Q1 2024 Q2 2024 Revenue $274.0 $252.4 $256.5 Cash, Cash Equivalents & $452.9 $530.2 $548.3 Short-Term Investments Gross Margin 4
Slide 10: Outlook
OUTLOOK Q3 2024 Revenue ~$255M Gross Margin ~43.5% Operating Expenses ~$60M Tax Rate ~15% Diluted Earnings Per Share ~$1.43 Q4 2024 Revenue to be Slightly Higher than Q3 2024 10
Slide 11: Q&A
Q&A 11