Slide 1: TTM Technologies, Inc. Q4'24 Earnings Results Presentation
TTM Technologies, Inc. Q4’24 Earnings Results Presentation February 5, 2025
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements This communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o f 1995, including statements related to the future business outlook, events, and expected performance of TTM Technologies, In c. (“T
Slide 3: Key Messages from Q4 2024 Earnings Report and Call
Key Messages from Q4 2024 Earnings Report and Call • Revenue of $651.0M above the high end of the guided range of $610M-$650M • GAAP EPS of $0.05, inclusive of a $32.6 million goodwill impairment charge related to the RF&S Components Segment • Non-GAAP EPS of $0.60 (inclusive of a $14.1 million pre-
Slide 4: Q4'24 End Market Commentary
Q4’24 End Market Commentary End Market (% of Q4’24 Q4’23 Year on Year Growth Q1’25 Revenues) Guidance Aerospace & Defense 47% 46% 16% 47% Data Center Computing 22% 17% 44% 21% Medical, Industrial & 13% 16% (5%) 13% Instrumentation Automotive 11% 15% (14%) 11% Networking 7% 6% 35% 8% 4
Slide 5: Q4 2024 Operational Metrics
Q4 2024 Operational Metrics Operating Metric Q4’24 Q4’23 Advanced Technology 50% 47% Asia Pacific PCB Capacity Utilization 59% 51% North America PCB Capacity Utilization 34% 35% Top 5 Customers 44% 44% Backlog $612.6 mn $575.9 mn A&D Program Backlog $1.56 bn $1.33 bn Book to Bill 1.09 0.88 5
Slide 6: Quarterly Financial Results and Guidance
Quarterly Financial Results and Guidance Financial Metric (Non-GAAP)1 Q4’24 Q4’23 Year on Year Change Q1’25 Guide Revenues $651.0 mn $569.0 mn 14.4% $600-$640 mn Operating Margin 10.1% 10.7% (0.6) pt N/A EBITDA Margin 16.7% 14.2% 2.5 pt N/A EPS $0.60 $0.41 $0.19 $0.37-$0.43 Cash flow from Ops $86.1
Slide 7: Additional Financial Guidance for Q1'25
Additional Financial Guidance for Q1’25 • Non-GAAP – SG&A expense of ~9.4% – R&D expense of ~1.1% – Interest expense of ~$11.2 million – Interest income of ~$2.0 million – Effective tax rate of 12%-17% – Diluted share count of 104.8 million • GAAP – Depreciation expense of ~$28.1 million – Amortizat
Slide 8: Thank You
7TT™M Technologies. Inspiring Innovation Thank You
Slide 9: Appendix
7TT™M Technologies. Inspiring Innovation Appendix
Slide 10: Non-GAAP Reconciliations Q4 24
Non-GAAP Reconciliations Q4 24 Fourth Quarter 2024 2023 Non-GAAP gross profit reconciliation2: GAAP gross profit $ 126,541 $ 115,368 Add back item: Amortization of definite-lived intangibles 2,336 2,335 Stock-based compensation 2,653 2,084 Unrealized loss (gain) on commodity hedge 1,635 (701) Purcha
Slide 11: Non-GAAP Reconciliations Q4 24
Non-GAAP Reconciliations Q4 24 Fourth Quarter 2024 2023 Non-GAAP net income and EPS reconciliation4: GAAP net income (loss) $ 5,170 $ 17,338 Add back items: Amortization of definite-lived intangibles 9,250 13,765 Stock-based compensation 8,083 6,159 Non-cash interest expense 525 478 Gain on sale of
Slide 12: Non-GAAP Reconciliations Q4 24
Non-GAAP Reconciliations Q4 24 1 This information provides a reconciliation of non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, and adjusted EBITDA to the financial information in our consolidated condensed statements of operations. 2 Non-GAAP gross profit and gro