Slide 1: Benchmark Electronics
Benchmark Electronics Sidoti Small Cap Virtual Conference Sept. 17, 2025
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking 2025 Statements Non-GAAP Financial Information This document contains forward-looking statements within the meaning of Section 27A of the Management discloses certain non-GAAP information to provide investors with additional Securities Act of 1933, as amended and Section 21E of the S
Slide 3: Leadership Team
Leadership Team Jeff Benck David Moezidis Bryan Schumaker Chief Executive Officer President and EVP and Chief Commercial Officer Chief Financial Officer
Slide 4: Benchmark By the Numbers
Benchmark By the Numbers $78M >10% 2.7 billion Gross Margin $ LTM Free Cash Flow $57M >7% Net Cash LTM FCF + Div Yield Fiscal year ending 2024 Non-GAAP for the quarter ending June 2025 21 Global Manufacturing 12,500+ Engaged from design engineering to production and any point in between Team Members
Slide 5: Global Services Locations
Global Services Locations Product Design & Engineering Centers Electronics Manufacturing Precision Technologies United States Europe Manufacturing 1. Concord, CA ● 1. Almelo, The Netherlands ●● 2. Santa Ana, CA ●● 2. Brasov, Romania ● 3. Tempe, AZ ●● 4. Mesa, AZ ● 5. Phoenix , AZ ● 6. Arden Hills, M
Slide 6: Our Evolution to Higher Value Sectors
Our Evolution to Higher Value Sectors FY12 10% 5% 27% 25% 32% Medical Semi-Cap Industrial Communications Computing FY24 17% 27% 22% 18% 16% Medical Semi-Cap Industrial AC&C A&D Highly complex products and demanding regulatory environments | 6
Slide 7: Second Quarter Results
Second Quarter Results $642M 10.2% 4.7% $0.55 GAAP AND NON- NON-GAAP GROSS NON-GAAP NON-GAAP EPS GAAP REVENUE MARGIN OPERATING MARGIN • Seventh consecutive quarter of 10% or greater non-GAAP gross margin • Sequential growth in three of five sectors, led by Medical • Semi-Cap and A&D revenue up doubl
Slide 8: Strategic Focus
Strategic Focus Target sectors continue to drive results Financial discipline remains at the forefront • Sector focus and mix continues to • Refinanced debt and repatriated over support >10% gross margin $150 million • Led by year-on-year growth in Semi- • Free Cash Flow impacted by one- Cap and A&D
Slide 9: Financial Highlights (Non-GAAP)
Financial Highlights (Non-GAAP) THREE MONTHS THREE MONTHS THREE MONTHS ENDED ENDED ENDED June 30 March 31 June 30 2024 2025 2025 ($ MILLIONS) Revenue $666 $632 $642 Gross Margin 10.2% 10.1% 10.2% Operating Margin 5.1% 4.6% 4.7% Effective Tax Rate 23.9% 25.0% 24.3% EPS $0.57 $0.52 $0.55 * See APPENDI
Slide 10: Second Quarter 2025 Sector Performance
Second Quarter 2025 Sector Performance Sales Sector Mix $MM Q/Q 20% Semi-Cap $190 (2.4%) 30% Industrial $142 3.6% $642 11% Aerospace & Defense $126 3.6% MILLION Medical $110 5.7% 17% 22% AC&C $74 0% | 10
Slide 11: Trended Non-GAAP Results
Trended Non-GAAP Results (Dollars in Millions, except EPS) * See APPENDIX 1 for a reconciliation of GAAP to non-GAAP Financial Results | 11
Slide 12: Balance Sheet and Cash Flow Update
Balance Sheet and Cash Flow Update (In Millions) Q2-24 Q1-25 Q2-25 Cash Flows (used) from Operations $56 $32 $(3) Free Cash Flow (Used) (1) $47 $27 $(15) • Strong balance sheet and leverage ratio Share Repurchases $- $8 $8 • Continued to support the quarterly dividend which was $6.1 million in the q
Slide 13: Working Capital Trends
Working Capital Trends Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Accounts Receivable Days 51 51 57 53 52 Contract Asset Days 25 26 23 25 25 Inventory Days 90 89 85 89 83 Accounts Payable Days (52) (54) (54) (61) (55) Advance Payments from Customers Days (24) (22) (22) (20) (20) Cash Conversion Cycle Days 90 90
Slide 14: Sector Outlook
Sector Outlook Semi-Cap Industrial Aerospace & Defense • Expect to outperform the market rate of • Expect sequential growth in 2H:25 • Expect double-digit Y/Y growth throughout growth in 2025 • Pipeline momentum continues and new wins 2025 • China restrictions are a demand headwind will support furt
Slide 15: Summary
Summary 1. Executing across varied demand environments • Seven consecutive quarters of >10% non-GAAP gross margin • Multi-year record bookings quarter validates our sector strategy and value proposition across both new and existing customers 2. Returning to growth • Medical, Industrial and AC&C show
Slide 16: Appendix
Appendix > Benchmark | 16 Copyright © 2025 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark.
Slide 17: APPENDIX 1 – Reconciliation of GAAP to Non-GAAP
APPENDIX 1 – Reconciliation of GAAP to Non-GAAP (Dollars in thousands, except per share data – Unaudited) Three Months Ended Six Months Ended Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Jun 30, 2023 2024 2024 2024 2024 2025 2025 2024 2025 Income from operations (GAAP) $ 32,100 $ 25,529 $