Gentherm Inc · NASDAQ:THRM
Gentherm — Q4 2025 Earnings Presentation
19 slides from Gentherm's earnings presentation, Feb 19, 2026
Slide 1: 2025 Fourth Quarter and Full Year Results
2025 Fourth Quarter and Full Year Results February 19, 2026 Proprietary © Gentherm
Slide 2: Disclaimer
Disclaimer NO OFFER OR SOLICITATION This presentation is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of secu
Slide 3: Transforming Gentherm with Urgency
Transforming Gentherm with Urgency → Securing profitable revenue growth in attractive target end markets → Cultivating a continuous improvement culture that drives operational excellence and expands margins → Increasing focus on cash generation and asset utilization → Executing on M&A funnel investi
Slide 4: Reigniting Gentherm's Growth Trajectory
Reigniting Gentherm’s Growth Trajectory + Performance Technologies Organic growth initiatives gaining traction Home & Office Transformational combination creates a $2.6B thermal and flow management leader positioned for growth ✓ Selected as supplier by multiple leading furniture brands in 2025 Reven
Slide 5: Confident in Path to Improved Financial Performance
Confident in Path to Improved Financial Performance ($M) 25A-27E CAGR THRM ~6%+ 23A-25A CAGR LVP ~0% THRM ~1% Key Drivers LVP ~1% ~$1,700 ✓ Revenue growth accelerating into 2027 $1,550 $1,499 + Strong automotive launch activity Revenue $1,469 $1,456 + Adjacent market pursuits gaining traction + New
Slide 6: 2025 Full Year Highlights
2025 Full Year Highlights 4Q 2025 → Secured strategic wins with Ford F-Series & conquest Automotive Mercedes-Benz, while driving increased adoption and New Business $485M $2.2B Awards penetration of innovative solutions → Record annual revenue driven by Automotive Climate Product and Comfort Solutio
Slide 7: 2026 Guidance & 2027 Preliminary Revenue Outlook
2026 Guidance & 2027 Preliminary Revenue Outlook As of Feb 2026 Comments Product • ~3% growth (ex-fx) with industry light vehicle production declining ~(1%) Revenues $1.5B – $1.6B • Mid-single digit growth over market 2026 Adjusted $175M – $195M • Margin expansion of ~30 bps year-over-year EBITDA ~1
Slide 8: Gentherm to Combine with Modine Performance Technologies
Gentherm to Combine with Modine Performance Technologies Accelerates Gentherm’s strategic progress by building scale in thermal management solutions and expanding its technologies and capabilities in precision flow management Creates strong commercial opportunities across blue-chip customer bases gi
Slide 9: Significant Value Creation Opportunities
Significant Value Creation Opportunities Identified and Modeled Synergies Driven by cost optimization & operational efficiencies ~$25M Annual Cost Synergies Purchasing Logistics Overhead Incremental Commercial Opportunities → $100M+ Pipeline Identified Product Cross-Selling Product Integration New G
Slide 10: Unlocking Growth and Margin Expansion
Unlocking Growth and Margin Expansion $100M+ $3.5B+ $3.4B $2.6B + Cross-selling + Product integration (Adj EBITDA %) Revenue + Power Gen acceleration + New global markets Performance Technologies + Converting automotive awards + CV & Heavy-Duty recovery + Climate & Comfort adjacencies + Medical new
Slide 11: Why Gentherm?
Why Gentherm? Innovative leader uniquely positioned for Continuous improvement mindset to drive Strong financial position with ability profitable growth driven by scalable margin expansion and solid cash flow to efficiently deploy capital and drive technology platforms and broad market conversion sh
Slide 12: Appendix
Appendix Proprietary © Gentherm
Slide 13: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”); Adjusted EBITDA margin; adju
Slide 14: 2025 Full Year Financial Review
2025 Full Year Financial Review Revenue Adjusted EBITDA Operating Cash Flow $1.5B $175M $117M +1.8% ex-FX 11.7% margin +7% vs. PY $1,456 $1,499 $182.9 $174.8 $117 $110 12.6% 11.7% 2024 2025 2024 2025 2024 2025 • Automotive Climate and Comfort • Temporary headwinds from footprint • Net leverage reduc
Slide 15: Select Income Statement Data
Select Income Statement Data Three Months Ended December 31 Twelve Months Ended December 31 (Dollars in thousands, except per share data) 2025 2024 2025 2024 Product Revenues $ 382,788 $ 352,914 $ 1,498,602 $ 1,456,124 Automotive 368,889 338,834 1,448,826 1,406,278 Medical 13,899 14,080 49,776 49,84
Slide 16: Select Balance Sheet Data
Select Balance Sheet Data (Dollars in thousands) December 31, 2025 December 31, 2024 Cash and Cash Equivalents $ 160,833 $ 134,134 Total Assets 1,396,429 1,247,556 Debt 189,073 220,201 Current 73 137 Non-Current 189,000 220,064 Revolving LOC Availability 307,935 280,000 Total Liquidity 468,768 414,1
Slide 17: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended December 31 Twelve Months Ended December 31 (Dollars in thousands) 2025 2024 2025 2024 Net Income $ 2,987 $ 15,321 $ 18,285 $ 64,947 Add Back: Depreciation and Amortization 13,783 12,587 52,903 51,329 Income Tax Expense
Slide 18: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended December 31 Twelve Months Ended December 31 2025 2024 2025 2024 Diluted EPS - As Reported $ 0.10 $ 0.49 $ 0.59 $ 2.06 Non-Cash Purchase Accounting Impacts 0.05 0.05 0.21 0.20 Restructuring Expenses, net 0.06 0.02 0.40 0.42 Unrealized Currency (Gain)
Slide 19: Reconciliation of Financial Figures
Reconciliation of Financial Figures Modine Performance Technologies LTM September 30, (Dollars in millions) 2025 Reported Revenue $1,129 Less: Pro Forma Adjustments (21) Pro Forma Adjusted Revenue $1,108 Adjusted EBITDA as per Modine Reporting $152 Less: Pro Forma Adjustments (11) Less: Estimated In