Slide 1: Q2 2026 Earnings Presentation
Q2 2026 EARNINGS PRESENTATION August 6, 2026
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains, and the conference call will contain, forward-looking statements under the Private Securities Litigation Reform Act safe harbor provisions. These statements, which include our expectations for spending in our industry and guidance for future financia
Slide 3: Use of Non-GAAP Measures
USE OF NON-GAAP MEASURES This presentation includes financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”). These Non-GAAP financial measures include non-GAAP gross profit, non-GAAP gross margin, non- GAAP operating
Slide 4: Q2 2026 Highlights
Q2 2026 HIGHLIGHTS REVENUE GAAP DILUTED EPS NON-GAAP DILUTED EPS* $215M $0.75 $1.06 Higher-than-expected system volume and CS&I sales Sequential improvement in Power and General Mature markets; demand backdrop in Memory remains robust Stronger booking activity; book-to-bill of approximately 1x *A re
Slide 5: Q2 2026 Shipped System Revenue by Segment
Q2 2026 SHIPPED SYSTEM REVENUE BY SEGMENT mature nodes 44% GENERAL MATURE 23% OTHER POWER (IGBT, OTHER) 14% MEMORY 3% ADVANCED LOGIC 16% SILICON CARBIDE (SiC) POWER p o we r 5 Note: Figures may not sum due to rounding.
Slide 6: Mature Process Technology
MATURE PROCESS TECHNOLOGY 83% OF TOTAL SHIPPED SYSTEM REVENUE IN Q2 2026 POWER GENERAL MATURE 39% OF TOTAL SHIPPED SYSTEM REVENUE IN Q2 2026 44% OF TOTAL SHIPPED SYSTEM REVENUE IN Q2 2026 • Silicon Carbide bookings improved on a sequential • Sales increased sequentially as tool utilization and basis
Slide 7: Advanced Logic & Memory Technology
ADVANCED LOGIC & MEMORY TECHNOLOGY ADVANCED LOGIC MEMORY 3% OF TOTAL SHIPPED SYSTEM REVENUE IN Q2 2026 14% OF TOTAL SHIPPED SYSTEM REVENUE IN Q2 2026 • Shipped a system in the second quarter for a • Continue to expect meaningful year-over-year materials-modification application supporting 2- growth
Slide 8: Improving Business Trends
IMPROVING BUSINESS TRENDS POWER GENERAL MATURE Improving activity in Silicon Carbide and Customer engagement and utilization trends continued opportunities across broader power showing signs of improvement applications MEMORY CS&I Strong 2026 outlook, with customer Growing installed base and improve
Slide 9: Q2 2026 Revenue Detail
Q2 2026 REVENUE DETAIL (In millions) Q2 2026 Q1 2026 Q2 2025 Systems Revenue $132.4 $126.3 $133.3 CS&I Revenue $82.8 $72.6 $61.3 Total Revenue $215.2 $199.0 $194.5 Systems Bookings $130.9 $128.2 $96.2 Systems Backlog $451.6 $453.3 $575.7 Q2 2026 Q1 2026 Q2 2025 Geographic Breakdown (% of Total Reven
Slide 10: Q2 2026 Select GAAP & Non-GAAP Financial Measures
Q2 2026 SELECT GAAP & NON-GAAP FINANCIAL MEASURES (In millions, expect per share amounts) Q2 2026 Q2 2025 Revenue $215.2 $194.5 Select GAAP Financial Measures Gross Margin 42.4% 44.9% Operating Expenses $70.9 $58.4 Operating Income $20.3 $29.0 Operating Margin 9.4% 14.9% Net Income $23.3 $31.4 Dilut
Slide 11: Q2 2026 Select Cash Flow and Balance Sheet Results
Q2 2026 SELECT CASH FLOW AND BALANCE SHEET RESULTS Q2 2026 Q1 2026 Q2 2025 (In millions) Cash, Cash Equivalents & Marketable Securities1 $577.0 $570.0 $581.0 Cash From Operations $18.4 $18.1 $39.7 Capital Expenditures $3.6 $1.8 $2.0 Free Cash Flow2 $14.8 $16.3 $37.7 Share Repurchase - - $45.3 1 Mar
Slide 12: Q3 2026 Outlook
Q3 2026 OUTLOOK Q3 2026 ADDITIONAL COMMENTARY Revenue $230M • Q4 2026 revenue is expected to increase sequentially Non-GAAP Gross Margin* 43.0% • Full-year 2026 revenue now expected to grow mid-single digit % on a YoY basis Non-GAAP Operating Expenses* $62M • Q4 2026 Non-GAAP Gross Margins and Opera
Slide 13: Appendix
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Slide 14: Appendix: GAAP to Non-GAAP Reconciliation
APPENDIX: GAAP TO NON-GAAP RECONCILIATION Q2’26 Q2’25 Adjusted EBITDA Reconciliation Q2’26 Q2’25 Revenue $ 215,175 $ 194,544 Net income $ 23,291 $ 31,376 Other (income)/expense (5,067) (6,032) Gross Profit $ 91,189 $ 87,343 Income tax provision 2,057 3,621 Restructuring1 - - Depreciation & amortizat
Slide 15: Q3 2026 Outlook: GAAP to Non-GAAP Reconciliation
Q3 2026 OUTLOOK: GAAP TO NON-GAAP RECONCILIATION Q3 2026 Q3 2026 Outlook Adjusted EBITDA Reconciliation Outlook Revenue $230 Net Income $24 Other (Income)/Expense ($4) GAAP Gross Margin 42.7% Income tax provision $4 Restructuring - Depreciation & Amortization $5 Stock-based compensation 0.3% Subtota