Slide 1: Delivering Sustainable Infrastructure Solutions - Earnings Presentation Second Quarter 2025
Delivering Sustainable Infrastructure Solutions Earnings Presentation Second Quarter 2025 Elkhorn Pumping Plant Replacement/ Sacramento, CA
Slide 2: Disclaimer
Disclaimer This presentation is being delivered on behalf of Shimmick Corporation (the “Company”). The sole purpose of this presentation is to provide information in connection with a review of the Company’s operations and/or financial status. This presentation does not purport to be all-inclusive o
Slide 3: Second Quarter 2025 and Recent Highlights
Second Quarter 2025 and Recent Highlights Reported revenue of $128 million, up 42% year over year, with $113 million coming from Shimmick Projects(1) Reported gross margin of $8 million, as compared to gross margin of $(31) million during the second quarter of 2024, favorable 126% year over year
Slide 4: Backlog: Recent Momentum Builds Foundation for the Future
Backlog: Recent Momentum Builds Foundation for the Future 20% Recently announced project wins will Growth contribute to backlog in Q3 2025, 15% resulting in strategic backlog growth and improved win rates; byproduct of 12% investment made earlier in the year for a re-organized and well-resourced est
Slide 5: Axia Electric electrical subsidiary overview
• Based in California, delivering electrical contracting services for complex infrastructure projects across the United States. • Combines decades of technical expertise in self performed installation and commissioning with experience and skills to serve, industrial, transportation, commercial, adva
Slide 6: Addressable Market of $100B/Year
Addressable Market of $100B/Year (1) Four major end markets and turnkey solutions in: Water Resources Energy Transition & Technology Climate Resilience Sustainable Transportation Robust base of public and private clients: Municipal Governments Hyper Scale Technology Regional Agencies C
Slide 7: Second Quarter Revenue and Gross Margin
Second Quarter Revenue and Gross Margin ($ in millions) Quarter In Review Shimmick Projects revenue and margin increases were driven by new infrastructure and water projects ramping up and continuing wildfire debris cleanup Non-Core Projects revenue & margin increase was primarily driven by a prior
Slide 8: 2025 Outlook and Updated Guidance
2025 Outlook and Updated Guidance ($ in millions) Shimmick Projects Revenue Shimmick Projects Gross Margin For the full fiscal year ending January 2, $405M - $415M 9% - 12% 2026, we now expect: $356M Shimmick Projects revenue in the range of $405 million and $415 million, up from our initial guidanc
Slide 9: Closing
Closing Our investments in strategic backlog growth are showing results and will continue through 2025 with increased backlog and revenue driving our margins higher As the share of our overall revenue represented by Non-Core Projects declines, we expect our overall margins to continue improving
Slide 10: Appendix
Appendix
Slide 11: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations (in thousands) Three Months Ended Six Months Ended July 4, 2025 June 28, 2024 July 4, 2025 June 28, 2024 Net loss attributable to Shimmick Corporation $(8,525) $(51,389) $(18,295) $(84,722) Transformation costs(1) 725 2,608 1,440 2,608 Stock-based compensation 1,528
Slide 12: Non-GAAP Financial Measures Explanatory Notes
Non-GAAP Financial Measures Explanatory Notes Adjusted Net Loss Adjusted EBITDA Adjusted net loss represents Net loss attributable to Shimmick Corporation adjusted to eliminate stock-based Adjusted EBITDA represents our Net loss attributable to Shimmick Corporation before interest expense, income ta
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet July 4, January 3, (in thousands) 2025 2025 Assets Cash and Cash Equivalents $21,393 $33,730 Total Current Assets 140,328 141,000 Total Assets 202,983 233,864 Liabilities Total Current Liabilities 194,754 230,264 Total Liabilities 252,445 268,538 Equity Total Stockholders’
Slide 14: Shimmick Experience in Target Market Segments
SHIMMICK Experience in Target Market Segments Water Resources Climate Resilience Treatment, storage, and conveyance Flood defense and sea-level rise infrastructure North City Pure Water Facility Chickamauga Lock Replacement Foster City Levee Improvement Rapid Disaster Infrastructure Repair San Diego
Slide 15: Investor Contact
Investor Contact IR@shimmick.com 1-949-704-2350 investors.shimmick.com Delivering Sustainable Infrastructure Solutions