Seagate Technology Holdings Plc · NASDAQ:STX
Seagate Technology — Q1 2027 Earnings Presentation
14 slides from Seagate Technology's earnings presentation, Oct 27, 2026
Slide 1: Supplemental Financial Information Q1FY27
SUPPLEMENTAL FINANCIAL INFORMATION Q1FY27 OCTOBER 27, 2026
Slide 2: Safe Harbor Statement and Use of Non-GAAP Financial Information
Safe Harbor Statement and Use of Non-GAAP Financial Information This document and our other communications regarding our quarterly financial results contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide curre
Slide 3: Q1FY27 Financial Highlights
Q1FY27 Financial Highlights Delivered record profitability and EPS, supported by sustained Data Center demand, favorable pricing and strong operational execution Revenue Record Gross Margin1 Record Operating Margin1 Record EPS1 $4.2B 57.8% 50.7% $7.68 +61% YoY | Above guidance +510 bps QoQ | +1,770
Slide 4: Markets and Technology Highlights
Markets and Technology Highlights • Data Center represented 90% of exabyte shipments at 198EB, up ~24% YoY • Vast majority of Data Center nearline supply allocated through CY28, with some cloud supply agreements extending through CY30 • Data Center revenue of $3.4B, up 63% YoY with sustained Cloud a
Slide 5: Quarterly Financial Trends
Quarterly Financial Trends Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 QoQ YoY Results (non-GAAP)1 Revenue ($M) 2,629 2,825 3,112 3,629 4,233 17% 61% Gross Margin % 40.1% 42.2% 47.0% 52.7% 57.8% 5.1 ppt 17.7 ppt Operating Expenses ($M) 291 290 296 293 300 2% 3% Operating Margin % 29.0% 31.9% 37.5% 44.6% 50.7
Slide 6: Quarterly Financial Trends Continued
Quarterly Financial Trends Continued Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 QoQ YoY Revenue by End Market ($M) 2,629 2,825 3,112 3,629 4,233 17% 61% Data Center1 2,114 2,224 2,500 2,933 3,449 18% 63% As a % of total revenue 80% 79% 80% 81% 81% 0 ppt 1 ppt Edge IoT1 515 601 612 697 784 13% 52% As a % of
Slide 7: Guidance Q2FY27
Guidance Q2FY27 Q2FY27 Revenue $4.8 billion ± $100 million Operating Margin1 (non-GAAP) Towards mid 50% range of revenue Diluted Earnings Per Share1,2 (non-GAAP) $9.20 ± $0.20 At the mid point of the guidance: o Operating Expense (non-GAAP) expected to be ~$300 million o Tax Expense (non-GAAP) expec
Slide 8: Debt Capital Structure
Debt Capital Structure o $2.6B Liquidity1, $1.3B cash, $1.3B revolving credit facility o Reduced gross debt2 to $2.4B, down 53% YoY o Extinguished an additional $750M in high yield senior notes subsequent to Q1FY27 Debt Metrics Debt Maturity as of Q1FY27 ($2.4B Principal Outstanding) Q1FY26 Q2FY26 Q
Slide 9: We Build Value in a Data-Driven World
We Build Value in a Data-Driven World Microsoft Validates HAMR and Why Context Shapes The SMR Solution at Hyperscale Economics Of AI Microsoft Azure Storage qualifies Is AI’s next constraint economics? The Broadcom HBA with Seagate HAMR + future value of AI depends on preserving SMR, validating a co
Slide 10: Reconciliation Tables
Reconciliation Tables Seagate | 10
Slide 11: Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit
Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit ($M) Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 GAAP Gross Profit $ 1,037 $ 1,176 $ 1,447 $ 1,898 $ 2,427 Amortization of acquired intangible assets 3 2 2 1 2 Share-based compensation related charges 14 13 14 13 18 Non-GAAP Gross Profit $ 1,054 $
Slide 12: Reconciliation of GAAP Net Income to Non-GAAP Net Income
Reconciliation of GAAP Net Income to Non-GAAP Net Income ($M) Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 GAAP Net Income $ 549 $ 593 $ 748 $ 1,294 $ 1,761 Acquisition-related charges 1 — — — — Amortization of acquired intangible assets 3 2 2 1 2 Legal settlement — — 105 — — Net loss from business divestitur
Slide 13: Reconciliation of Operating Cash Flow to Free Cash Flow
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow ($M) Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Net Cash Provided by Operating Activities $ 532 $ 723 $ 1,114 $ 1,305 $ 1,690 Acquisition of property, equipment and leasehold improvements (105) (116) (161) (187) (211) Free Cash Fl
Slide 14: www.seagate.com
OQ) seacate www.seagate.com
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