Slide 1: Company Overview
COMPANY OVERVIEW August 19, 2024 1
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than statements of historical
Slide 3: Fabrinet Overview
Fabrinet Overview ❑ Global leader in advanced precision optical/ electronic/mechanical manufacturing services ❑ Focus on high-mix/low-volume mission-critical components and modules ❑ Serving growing industrial markets Fabrinet West VitroCom ▪ Telecom and Datacom Optical Communications Santa Clara Ne
Slide 4: Markets and Products
Markets and Products Optical Automotive Industrial Lasers Other Communications ◼ EV Charging ◼ Lasers ◼ Medical ◼ Transceivers Diagnostics ◼ LIDAR ◼ Solid-State Lasers ◼ Modulators ◼ Metrology & ◼ LED & Laser ◼ Gas Lasers ◼ Optical Amplifiers Lighting Instrumentation ◼ Ultrafast Lasers ◼ ROADM ◼ Saf
Slide 5: Efficient Global Manufacturing Footprint
Efficient Global Manufacturing Footprint Precision Optical and Electronic Custom Optics Packaging and Assembly Casix, China Vitrocom, NJ, USA Pinehurst Campus, Thailand Quickturn NPI Services Fabrinet Israel Fabrinet West, CA, USA Chonburi Campus, Thailand 5
Slide 6: Investment Highlights
Investment Highlights ✓ Large and growing addressable markets ✓ Differentiated business model with low-cost structure Highly differentiated expertise in precision manufacturing ✓ technologies enabling next-generation products ✓ Strong relationships with industry-leading OEMs ✓ Demonstrated track rec
Slide 7: Strong Revenue Trends
Strong Revenue Trends QUARTERLY CONSOLIDATED REVENUE ($M) 800 712.7 731.5 753.3 655.4 685.5 668.7 665.3 655.9 700 587.9 543.3 566.6 564.4 600 500 400 300 200 100 0 Sep'21 Sep'22* Sep'23 Dec'21 Dec'22 Dec'23 Mar'22 Mar'23 Mar'24 Jun '22 Jun '23 Jun'24 Optical communications Non-optical communications
Slide 8: Consistent Profitability
Consistent Profitability NON-GAAP GROSS MARGIN AND NON-GAAP OPERATING MARGIN (1) % of Sales 15.0% 13.0% 12.6% 12.8% 12.5% 10.8% 10.6% 10.5% 10.7% 10.0% 5.0% 0.0% FY2023 FY2024 4Q23 4Q24 Gross margin Operating margin RETURN ON INVESTED CAPITAL (2) 50.0% 40.1% 40.0% 32.6% 35.7% 29.6% 30.0% 20.0% 10.0%
Slide 9: Recent Financial Performance
Recent Financial Performance Key Financials • Q4 revenue of $753.3 million $Millions (USD), except per share figures 3 months ended exceeded guidance, and was a new record 28-Jun-24 30-Jun-23 Revenue $753.3 655.9 • Q4 non-GAAP operating margin Y-o-Y change 15% 12% was 10.7% Gross profit (non-GAAP) (
Slide 10: Strong Balance Sheet Supports Growth Strategy
Strong Balance Sheet Supports Growth Strategy Selected Items $Millions (USD) As of June 28, 2024 Cash, cash equivalents(1) $858.6 Working capital (2) $613.8 Property, plant & equipment, net $307.2 Total debt (3) $0.0 Total shareholders’ equity $1,745.7 (1) Cash & cash equivalents include marketable
Slide 11: Revenue Mix
Revenue Mix F4Q22 F1Q23 F2Q23 F3Q23 F4Q23 F1Q24 F2Q24 F3Q24 F4Q24 Optical Communications 79% 76% 76% 76% 77% 78% 80% 81% 79% Datacom 20% 19% 22% 24% 38% 45% 51% 52% 53% Telecom 80% 81% 78% 76% 62% 55% 49% 48% 47% Non-Optical Communications 21% 24% 24% 24% 23% 22% 20% 19% 21% Optical and non-optical
Slide 12: Revenue by Product Category
Revenue by Product Category Revenue in $Millions (USD) F4Q22 F1Q23 F2Q23 F3Q23 F4Q23 F1Q24 F2Q24 F3Q24 F4Q24 Optical $464.7 $497.6 $506.1 $502.6 $502.1 $533.3 $567.9 $591.4 $596.4 Communications Datacom 92.8 92.7 113.2 122.4 192.5 242.0 288.1 305.5 314.7 Telecom 371.9 404.9 392.9 380.2 309.6 291.2 2
Slide 13: Optical Communications Revenue
Optical Communications Revenue Revenue by Technology in $Millions (USD) F4Q22 F1Q23 F2Q23 F3Q23 F4Q23 F1Q24 F2Q24 F3Q24 F4Q24 Silicon Photonics $151.1 $138.9 $123.4 $108.7 $88.1 $88.5 $97.9 $111.9 $90.5 Non-Silicon Photonics 313.6 358.7 382.7 393.9 414.0 444.8 470.0 479.5 505.9 Total Optical 464.7 4
Slide 14: Appendix
Appendix 14
Slide 15: Non-GAAP Reconciliation of Gross Margin and Operating Margin
Non-GAAP Reconciliation of Gross Margin and Operating Margin Reconciliation of GAAP Gross Profit and GAAP Gross Margin to Non-GAAP Gross Profit and Non-GAAP Gross Margin (in thousands of U.S. dollars) Three Months Ended Twelve Months Ended June 28, 2024 March 29, 2024 June 30, 2023 June 28, 2024 Jun
Slide 16: Non-GAAP Reconciliation of Net Profit and EPS
Non-GAAP Reconciliation of Net Profit and EPS Reconciliation of GAAP measures to non-GAAP measures (in thousands of U.S. dollars, except per share data) FQ4'24 FQ3'24 FQ2'24 June 28,2024 March 29, 2024 December 29,2023 Net income Diluted EPS Net income Diluted EPS Net income Diluted EPS GAAP measure