Slide 1: Q2 2024 Financial Results Conference Call
May 22, 2024 Q2 2024 Financial Results Conference Call
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and some of our comments during this presentation may contain projections or other forward-looking statements regarding future events, our future financial performance, and/or the future performance of the industry. These statements are predictions and contain
Slide 3: Q2 2024 Summary
Q2 2024 Summary Navigated Q2 Challenges; Positioned for Long-Term Profitable Growth and Sustainable Shareholder Value Creation 1Adjusted EPS is a non-GAAP measure; see reconciliation included in this presentation. $217.0M Revenue 25.8% Operating Margin $0.58 EPS $0.46 Adjusted EPS1 $76.5M OCF $539.2
Slide 4: Long-Term Trends Driving Photomask Demand
Semiconductor: growing capacity and design activity More extensive use of semiconductors across multiple applications, driven by megatrends such as AI and IoT Supply chain regionalization driving investments in semiconductor fabs that creates redundant production capacity and drives photomask demand
Slide 5: Revenue by Product Line
Revenue by Product Line $M Q224 Q/Q Y/Y High-End* 58.1 (5%) 32% Mainstream 102.9 6% (16%) Total 160.9 2% (4%) High-end down Q/Q on lower US demand; Y/Y up on strong demand from Asia foundries Mainstream up Q/Q as legacy demand was robust; lower Y/Y demand largely driven by Asia fabs Growth drivers:
Slide 6: Balance Sheet and Cash Flow Metrics
Balance Sheet and Cash Flow Metrics *Net cash is a non-GAAP term; see reconciliation included in this presentation Balance Sheet Provides Resilience, Enables Growth Strategy and Shareholder Value Creation $M Q224 Y/Y Q/Q Cash 539.2 47% 6% Short-term Investments 20.7 (54%) 60% Debt 21.8 (23%) (7%) Ne
Slide 7: Q3 2024 Guidance
Q3 2024 Guidance Revenue ($M) 221 – 229 Operating Margin 28% - 30% Taxes ($M) 18 – 19 Diluted non-GAAP EPS $0.53 - $0.59 Diluted Shares (M) ~62 Full-year Capex (M) ~140 Incorporation of chips in IoT, 5G, Crypto and consumer products New designs to capture market share Advanced display technologies O
Slide 8: Appendix
Appendix | - \
Slide 9: Revenue by Product Group ($M)
Revenue by Product Group ($M) Total may differ due to rounding IC FPD Mainstream High-End Mainstream High-End Total Revenue IC Revenue FPD Revenue High-End: 28nm and smaller High-End: ≥G10.5, AMOLED and LTPS
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Net Income attributable to Photronics, Inc. shareholders, non-GAAP earnings per share, and Net Cash are "non-GAAP financial measures" as such term is defined by the Securities and Exchange Commission, and may differ from similarly named non-GAAP financial measure
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures