Slide 1: Third Quarter Fiscal 2024 Earnings Supplemental Slides
Third Quarter Fiscal 2024 Earnings SUPPLEMENTAL SLIDES MAY 9, 2024
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
Slide 3: High-Performance IoT Semiconductor Solutions Leader
High-Performance IoT Semiconductor Solutions Leader Analog Mixed Signal Core IoT Product Strong Margin Revenue Semiconductors Applications Profile Broad Product Targeting $33B Non-GAAP Gross Q3’24 Revenue Portfolio SAM in FY28 Margin 52.9% in Q3’24 consistent QoQ ___________________________ Note: As
Slide 4: Technology Leadership Across The Product Portfolio
Technology Leadership Across The Product Portfolio Core IoT Product Enterprise & Automotive Mobile Applications PC Touchpad / Wireless Video Interface Biometric Fingerprint Touch Processors Enterprise Telephony Automotive © 2024 Synaptics Incorporated 4
Slide 5: Q3'FY24 Financial Highlights
Q3’FY24 Financial Highlights • Revenue of $237 million, down 27% YoY • Revenue was roughly flat QoQ. Growth in Core IoT was offset by seasonal decline in Mobile $47 $55 • Gross Margins improved sequentially and were in line with expectations in Q3 Q3’FY24 – GAAP gross margin of 46.5% Revenue – Non-G
Slide 6: Q3'FY24 Business Highlights
Q3’FY24 Business Highlights • A successful launch of Synaptics AstraTM, an AI-native IoT compute platform, targeting $20 billion plus in compute silicon market opportunity for edge IoT devices. • Design win at Deutsche Telekom for application-specific video processors along with connectivity solutio
Slide 7: Quarterly Revenue Trend
Quarterly Revenue Trend Total Revenue ($M) Core IoT Revenue Mix 30% 29% $448 25% 25% $353 $327 20% 20% 20% 16% 16% $238 $237 $237 15% $227 15% 10% 5% 0% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Note: As-reported, not proforma for any acquisition/divestiture
Slide 8: Quarterly Gross Margin Trend
Quarterly Gross Margin Trend Non-GAAP Gross Margin GAAP Gross Margin 62.6% 57.1% 59.8% 60.3% 52.9% 52.8% 55.7% 53.0% 52.5% 52.9% 46.0% 46.5% 45.1% 44.5% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Note: As-reported, not proforma for any acquisition/divestiture
Slide 9: Q3'FY24 Financial Results
Q3’FY24 Financial Results $M (except EPS) Q3’23 Q2’24 Q3’24 QoQ YoY Revenue $326.6 $237.0 $237.3 0.1% (27%) GAAP Gross Margin % 52.8% 46.0% 46.5% 50 bps -630 bps GAAP Operating Expenses $138.1 $126.9 $127.7 1% (8%) GAAP EPS Diluted $0.26 ($0.23) ($0.46) 100% (277%) Non-GAAP Gross Margin % 60.3% 52.5
Slide 10: Q3'FY24 Balance Sheet
Q3’FY24 Balance Sheet In Millions Q4’23 Q2’24 Q3’24 Cash & ST Investments $934.3 $848.7 $828.6 AR $163.9 $126.6 $144.7 Inventory $137.2 $125.1 $114.1 PP&E $66.4 $71.0 $74.0 Other $1,309.6 $1,401.9 $1,378.3 Total Assets $2,611.4 $2,573.3 $2,539.7 Current Liabilities (excluding debt) $254.1 $247.3 $20
Slide 11: Q4'FY24 Guidance
Q4’FY24 Guidance $M (except EPS) GAAP Non-GAAP Revenue $230M - $260 NA Gross Margin* 44.5% - 46.5% 52.5% - 54.5% Operating Expenses** $127 - $132 $97 - $101 EPS*** ($0.45) - ($0.85) $0.35 - $0.75 Revenue mix Core IoT 22% NA Enterprise & Auto 57% NA Mobile 21% NA *Projected Non-GAAP gross margin excl
Slide 12: Appendix
Appendix
Slide 13: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Actual Actual Actual Actual Actual Actual Actual GAAP gross margin $ 110.3 $ 109.0 $ 107.1 $ 101.2 $ 172.3 $ 186.7 $ 255.7 Acquisition related costs 14.3 14.4 17.8 24.5 23.7 23.3 23.5 Share-based compensation 1.0 1.1 1.
Slide 14: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Actual Actual Actual Actual Actual Actual Actual GAAP net income (loss) $ (18.1) $ (9.0) $ (55.6) $ (23.4) $ 10.4 $ 22.0 $ 64.6 Acquisition & transaction/integration related costs 18.3 18.3 23.3 33.0 32.2 34
Slide 15: Engineering Exceptional Experiences
Engineering Exceptional Experiences © 2024 Synaptics Incorporated 15