Slide 1: Q4 Earnings
Q4 Earnings Jan 30th, 2025
Slide 2: 4th Quarter Earnings Presentation
4th Quarter Earnings Presentation Michelle Johnston Holthaus David Zinsner Interim Co-Chief Executive Officer Interim Co-Chief Executive Officer CEO of Intel Products EVP and CFO
Slide 3: Non-GAAP Financial Measures and Forward-Looking Statements
Non-GAAP Financial Measures and Forward-Looking Statements • This presentation contains non-GAAP financial measures. Intel gross margin percentage, operating income, earnings per share attributable to Intel, and adjusted free cash flow, including year-over-year comparisons, are presented on a non-GA
Slide 4: Executive Summary
Executive Summary Q4 Revenue, Gross Margin and EPS Above Guidance Executing to rebuild product and process competitiveness Focusing investments. Simplifying the business. Becoming leaner and more efficient. Closely managing OpEx and CapEx, beginning the process of deleveraging in ‘25 Renewed Focus o
Slide 5: Q4 Financial Highlights
Q4 Financial Highlights $14.3B 42.1% $0.13 Revenue Gross Margin 2 EPS 3 Down 7% YoY Down 6.7 ppts YoY 2 Down $0.41 YoY 3 $0.5B above Oct outlook 1 2.6 ppts above Oct outlook 1 $0.01 above Oct outlook 1 1 Comparisons are based on the mid-point of revenue outlook 2 Non-GAAP results shown; GAAP gross m
Slide 6: Revenue, operating income and gross margin trend
($B) ▪ Strong QoQ Rev growth from CCG, IMS, and NEX $15.4 $14.3 ▪ Improved profitability on cost $12.7 $12.8 $13.3 savings and initial grants 48.8% 45.1% ▪ Simplifying operations to 42.1% 38.7% improve financial trajectory 18.0% $2.6 $0.7 $1.4 $0.0 -$2.4 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Revenue Op Inco
Slide 7: CCG, DCAI and NEX results
CCG Revenue Op Income DCAI Revenue Op Income NEX Revenue Op Income OM% OM% OM% ($B) ($B) ($B) $1.6 $3.5 $3.4 $1.5 $1.5 $8.8 $3.3 $1.4 $1.3 $8.0 $3.0 $3.0 $7.5 $7.4 $7.3 40.3% 37.1% 38.1% 35.1% 33.7% 20.9% 21.1% 17.7% 15.9% 9.1% 10.4% 13.5% 6.9% 10.3% 7.4% $3.6 $3.1 $2.6 $2.5 $2.7 $0.7 $0.3 $0.3 $0.5
Slide 8: Intel Foundry results
($B) ▪ Intel 18A volume $5.2 production in 2H’25 $4.4 $4.3 $4.4 $4.5 ▪ Financial improvements in ‘25 as EUV ramps -$1.3 ▪ Focused on Op Inc break- -$2.5 -$2.8 -$2.3 even by end of ’27 -$5.8 -25.5% -56.6% -50.2% -65.5% -134.3% Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Revenue Op Income/Loss OM%
Slide 9: All Other
All Other ($M) ▪ Mobileye profitability improved on better operating leverage $1,297 ▪ Altera billings remain $1,039 $1,042 below consumption as $968 inventory continues to $775 normalize 10.9% 11.3% 4.3% -3.6% $142 $118 -$212 -$35 $45 -27.4% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Revenue Op Income/Loss OM%
Slide 10: Outlook
Outlook intel.
Slide 11: Q1 2025 Outlook
Q1 2025 Outlook $11.7-12.7B 36.0% $0.00 Revenue Gross Margin EPS Down $0.5B YoY 1 Down 9.1 ppts YoY 1 Down $0.18 YoY 1 1. Revenue growth comparison, non-GAAP gross margin outlook and non-GAAP EPS attributable to Intel outlook based on the mid-point of the revenue range
Slide 12: Appendix
Appendix
Slide 13: Reconciliation of Non-GAAP Actuals
Reconciliation of Non-GAAP Actuals Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 (In Billions, Except Percentages and Per Share Amounts) GAAP gross margin percentage 45.7% 41.0% 35.4% 15.0% 39.2% Acquisition-related adjustments 1.9% 1.8% 1.7% 1.7% 1.5% Share-based compensation 1.1% 2.3% 1.5% 1.3% 1.5% Non
Slide 14: Reconciliation of Non-GAAP Q1 Outlook
Reconciliation of Non-GAAP Q1 Outlook Q1 2025 Outlook1 Q1 2024 Actuals Approximately GAAP gross margin percentage 33.8% 41.0% Acquisition-related adjustments 0.9% 1.8% Share-based compensation 1.3% 2.3% Non-GAAP gross margin percentage 36.0% 45.1% GAAP earnings (loss) per share attributable to Intel
Slide 15: Reconciliation of Other Non-GAAP Forward-Looking Estimates
Reconciliation of Other Non-GAAP Forward-Looking Estimates (In Billions) Full-Year 2025 Approximately GAAP additions to property, plant and equipment (gross capital spending) $20.0 Proceeds from capital-related government incentives (4.0 – 6.0) Partner contributions, net (4.0 – 5.0) Non-GAAP net cap
Slide 16: Reconciliation of Non-GAAP Adjusted Free Cash Flow
Reconciliation of Non-GAAP Adjusted Free Cash Flow (In Billions) Q4 2024 GAAP net cash provided by (used for) operating activities $3.2 Net purchase of property, plant, and equipment (4.7) Payments on finance leases (0.0) Adjusted free cash flow $(1.5)