Slide 1: Q3'23 Earnings Results Presentation
TTM Technologies, Inc. Q3’23 Earnings Results Presentation November 1st, 2023
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements This communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o f 1995, including statements related to the future business outlook, events, and expected performance of TTM Technologies, In c. (“T
Slide 3: Key Messages from Q3 2023 Earnings Report and Call
Key Messages from Q3 2023 Earnings Report and Call • Revenue of $572.6M in line with guidance of $550-$590M • GAAP EPS of ($0.36), inclusive of a goodwill impairment charge of $44.1 million • Non-GAAP EPS of $0.43 well above the guided range of $0.25-$0.31 • Cash flow from operations of $58.9 millio
Slide 4: Q3'23 End Market Commentary
Q3’23 End Market Commentary1 End Market (% of Q3’23 Q3’22 Year on Year Growth Q4’23 Revenues) Guidance Aerospace & Defense 45% 38% 1% 45% Data Center Computing 17% 14% 4% 16% Medical, Industrial & 16% 19% (30%) 16% Instrumentation Automotive 15% 15% (14%) 17% Networking 7% 14% (56%) 6% 1Results for
Slide 5: Q3 2023 Operational Metrics
Q3 2023 Operational Metrics1 Operating Metric Q3’23 Q3’22 Advanced Technology 47% 41% Asia Pacific PCB Capacity Utilization 46% 72% North America PCB Capacity Utilization 38% 45% Top 5 Customers 43% 33% Backlog $606.8 mn $672.9 mn A&D Program Backlog $1.35 bn $1.16 bn Book to Bill 0.91 0.92 1Results
Slide 6: Quarterly Financial Results and Guidance
Quarterly Financial Results1 and Guidance Financial Metric (Non-GAAP)2 Q3’23 Q3’22 Year on Year Change Q4’23 Guide Revenues $572.6 mn $671.1 mn (14.7%) $550-$590 mn Operating Margin 10.1% 10.2% (0.1 pts) N/A EBITDA Margin 14.7% 15.3% (0.6 pts) N/A EPS $0.43 $0.56 ($0.13) $0.34-$0.40 Cash flow from O
Slide 7: Thank You
7TT™M Technologies. Inspiring Innovation Thank You
Slide 8: Appendix
7TT™M Technologies. Inspiring Innovation Appendix
Slide 9: Non-GAAP Reconciliations Q3 23
Non-GAAP Reconciliations Q3 23 Third Quarter RECONCILIATIONS1 2023 2022 Non-GAAP gross profit reconciliation2: GAAP gross profit $ 113,270 $ 128,567 Add back item: Amortization of definite-lived intangibles 2,335 1,384 Accelerated depreciation associated with plant closures 725 19 Stock-based compen
Slide 10: Non-GAAP Reconciliations Q3 23
Non-GAAP Reconciliations Q3 23 Third Quarter Third Quarter 2023 2022 2023 2022 Non-GAAP net income and EPS reconciliation4: Adjusted EBITDA reconciliation6: GAAP net (loss) income $ (37,066) $ 43,528 GAAP net (loss) income $ (37,066) $ 43,528 Add back items: Add back items: Amortization of definite-
Slide 11: Non-GAAP Reconciliations Q3 23
Non-GAAP Reconciliations Q3 23 1 This information provides a reconciliation of non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, and adjusted EBITDA to the financial information in our consolidated condensed statements of operations. 2 Non-GAAP gross profit and gro