Knowles Corporation · NYSE:KN
Knowles — Q4 2025 Earnings Presentation
29 slides from Knowles's earnings presentation, Feb 5, 2026
Slide 1: Earnings Q4 2025
Earnings Q4 2025 FEBRUARY 5, 2026
Slide 2: Safe Harbor
Safe Harbor Forward Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, such as statements about our future plans, objectives, expectations, financial performa
Slide 3: Knowles at-a-glance
Knowles at-a-glance. 55% Precision Devices 45% MedTech 21% Defense & Aerospace $593M 2025 Revenue 5,000+ 2025 2025 Global Employees Segment Market Revenue Mix Revenue Mix 600+ Engineers 75+ Years in Industry 45% MedTech & Specialty Audio 4% Electrification / Energy 30% Industrial 3
Slide 4: Why we win
Why we win. High HighPerformance Performance Ceramic Capacitors Capacitors & & Hearing Health Solutions RF/Microwave Filters RF / Microwave Filters High Performance Technology Serving a diverse and innovative customer base across attractive end markets. MEDTECH DEFENSE INDUSTRIAL ELECTRIFICATION Cus
Slide 5: Historical Financial Performance - Continuing Operations
Historical Financial Performance - Continuing Operations Revenue CAGR Adjusted EBITDA* CAGR 2017-2025 593 2017-2025 142 140 554 129 479 442 457 108 107 396 Focused on 364 355 areas with 321 higher returns 75 68 and growth 61 8% 11% CAGR 38CAGR Invested in demanding growth markets 2017 2018 2019 2020
Slide 6: Historical Financial Performance - Cash Generation and Capital Deployment
Historical Financial Performance - Continuing Operations Cash Generated by Operating Activities * Capital Deployment (2022-2025) 2022-2025 146 $210M 12 Million Share shares repurchased 106 Repurchase 96 79 $71M 3% Capital of Revenues Expenditures over the period $263M Cornell Dublier 2022 2023 2024
Slide 7: Fourth Quarter Results
Fourth Quarter Results Revenue Non-GAAP Diluted EPS* Net Cash Provided by Revenues exceeded the high ($M) ($) Operating Activities end of the guided range with revenue growth accelerating 162.2 ($M) in the back half of the year 47.2 driven by demand for our 142.5 0.36 products and new design win str
Slide 8: Full Year Results
Full Year Results Full Year Revenue Revenue Non-GAAP Diluted EPS* Net Cash Provided by exceeded the high end ($M) ($) Operating Activities of our five-year organic ($M) growth target with strength in both 593.2 1.11 130.1 553.5 segments and across most end markets. 0.92 114.0 Non-GAAP Diluted EPS gr
Slide 9: MedTech & Specialty Audio
SEGMENT PERFORMANCE MedTech & Specialty Audio Revenue Revenue ($) ($) Fourth Quarter and 72.5 253.5 264.3 69.7 Full Year revenue grew at the high end of the +4.3% organic growth target +4.0% driven by increased shipment volumes. 4Q 2024 4Q 2025 FY2024 FY2025 Adjusted EBITDA Margin* Adjusted EBITDA M
Slide 10: Precision Devices
SEGMENT PERFORMANCE Precision Devices Revenue Revenue ($) 89.7 ($) 328.9 Revenue grew significantly 72.8 300.0 in the fourth quarter as growth accelerated in the +23.2% +9.6% back half of the year with inventory levels normalizing with our distribution 4Q 2024 4Q 2025 FY2024 FY2025 partners. Adjuste
Slide 11: First Quarter 2026 Outlook
First Quarter 2026 Outlook GAAP Adjustments Non-GAAP Revenues from continuing operations $143 to $153 million $— $143 to $153 million Diluted earnings per share from continuing $0.09 to $0.13 $0.13 $0.22 to $0.26 operations Net cash provided by operating activities $(5) to $5 million $— $(5) to $5 m
Slide 12: Creating value for our organization, customers and shareholders
Creating value for our organization, customers and shareholders — today and in the future. 2017-2025 2026-2029 8-10% 8% Revenue CAGR Revenue CAGR 10-14% 11% CONTINUING OPERATIONS Adjusted EBITDA† CAGR Adjusted EBITDA* CAGR 16-20% Cash from Operations as a % of Revenue * For this non-GAAP financial m
Slide 13: Our components of revenue growth
Our components of revenue growth. 8-10% Revenue CAGR 6-8% 2-4% 4% 2026-2029 Precision MedTech & Acquisitions Devices Specialty Audio 2026-2029 13
Slide 14: Continuing to drive value with strong earnings growth
Continuing to drive value with strong earnings growth. Organic EBITDA drop through Revenue Growth 10-14% Margin Expansion Pricing / Higher Value Products Factory Productivity Initiatives Adjusted EBITDA CAGR † Capacity Utilization 2026-2029 Operating Continued disciplined Expenses approach to SG&A A
Slide 15: Strategically focused on expanding from our strong core
Strategically focused on expanding ACQUISITIONS from our strong core. Consolidation in existing products and technologies Extensions to product lines which serve our existing DIVESTITURES markets and customers Adjacencies to expand our technology and customer base Consumer MEMS Microphones 15
Slide 16: Capital Allocation
Capital Allocation Organic Investment • Capital investments of 4-5% of revenues over a cycle to support new business and product innovation M&A • Focal point of our capital allocation strategy • Supported by robust pipeline focused on high-growth end markets • Demonstrated capabilities to acquire an
Slide 17: Summary
Summary Strategic transformation into industrial technology leader completed with focus on attractive 1 MedTech, Defense, Industrial, and Energy markets Historical financial performance demonstrates ability of portfolio to deliver future growth 2 with strong margin expansion over a cycle 3 Different
Slide 18: Appendix
« knowles Appendix
Slide 19: Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures
RECON CILIATION OF GA AP FIN ANCIAL MEASURES TO N ON -GAAP FIN AN CIAL MEASURE S Quarter Ended December 31, Year Ended December 31, (continuing operations, in millions, except per share amounts) 2025 2024 2025 2024 Notes Revenues $ 162.2 $ 142.5 $ 593.2 $ 553.5 $ 72.5 $ 60.9 $ 256.3 $ 234.8 1. Produ
Slide 20: Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures
RECON CILIATION OF GA AP FIN ANCIAL MEASURES TO N ON -GAAP FIN AN CIAL MEASURE S Quarter Ended December 31, Year Ended December 31, Notes (continuing operations, in millions, except per share amounts) 2025 2024 2025 2024 6. The non-GAAP reconciling adjustments include stock-based compensation expens
Slide 21: Historical Segment Data
Precision Devices MedTech & Specialty Audio HISTORICAL SEGMENT DATA Quarter Ended Quarter Ended December 31, September 30, June 30, March 31, December 31, December 31, September 30, June 30, March 31, December 31, (continuing operations, in millions) 2025 2025 2025 2025 2024 2025 2025 2025 2025 2024
Slide 22: Historical Segment Data
HISTORICAL SEGMENT DATA Precision Devices MedTech & Specialty Audio Quarter Ended Quarter Ended December 31, September 30, June 30, March 31, December 31, December 31, September 30, June 30, March 31, December 31, (continuing operations, in millions) 2025 2025 2025 2025 2024 2025 2025 2025 2025 2024
Slide 23: Historical Segment Data
Precision Devices MedTech & Specialty Audio HISTORICAL SEGMENT DATA Year Ended Year Ended December 31, December 31, December 31, December 31, (continuing operations, in millions) 2025 2024 2025 2024 Revenues $ 328.9 $ 300.0 $ 264.3 $ 253.5 Gross profit $ 126.0 $ 104.1 $ 130.6 $ 133.2 Gross profit ma
Slide 24: Historical Segment Data
HISTORICAL SEGMENT DATA Precision Devices MedTech & Specialty Audio Year Ended Year Ended December 31, December 31, December 31, December 31, (continuing operations, in millions) 2025 2024 2025 2024 Revenues $ 328.9 $ 300.0 $ 264.3 $ 253.5 Operating earnings $ 38.0 $ 15.0 $ 92.5 $ 97.5 Other expense
Slide 25: Reconciliation of Net Earnings to Adjusted EBITDA
RECONCILIATION OF NET EARNINGS TO ADJUSTED EBITDA Quarter Ended December 31, September 30, June 30, March 31, Trailing (Continuing operations, in millions) 2025 2025 2025 2025 12-months Net earnings (loss) $ 25.5 $ 18.0 $ 7.8 $ (0.4) $ 50.9 Interest expense, net 1.8 2.3 2.5 2.7 9.3 Provision for inc
Slide 26: Reconciliation of Net Debt
RECONCILIATION OF NET DEBT (in millions) December 31, 2025 Current maturities of long-term debt $ — Long-term debt 114.0 Total debt 114.0 Less: Cash and cash equivalents (54.2) Net debt $ 59.8 Net debt $ 59.8 Trailing 12 Month Adjusted EBITDA $ 140.2 Net debt leverage ratio 0.4 x 26
Slide 27: Reconciliation of Net Earnings to Adjusted EBITDA
RECONCILIATION OF NET EARNINGS TO ADJUSTED EBITDA Year Ended December 31, (Continuing operations, in millions) 2025 2024 2023 2022 2021 2020 2019 2018 2017 Revenues $ 593.2 $ 553.5 $ 456.8 $ 478.8 $ 441.9 $ 355.4 $ 395.9 $ 363.7 $ 321.2 Net earnings (loss) $ 50.9 $ 23.4 $ 65.6 $ 66.4 $ 98.4 $ (13.2)
Slide 28: Cash Generated by Operating Activities of Continuing Operations
CASH GENERATED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS Year Ended December 31, (Continuing operations, in millions) 2025 2024 2023 2022 Revenues $ 593.2 $ 553.5 $ 456.8 $ 478.8 Net cash provided by operating activities 114.0 130.1 122.7 86.3 Amounts utilized in (provided by) in discontinued
Slide 29: Thank you
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