Slide 1: TTM Technologies, Inc. Q2'24 Earnings Results Presentation
TTM Technologies, Inc. Q2’24 Earnings Results Presentation July 31, 2024
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 Q2 2024 Earnings Report and Call
Key Messages from Q2 2024 Earnings Report and Call • Revenue of $605.1M above the guided range of $560M-$600M • GAAP EPS of $0.25 • Non-GAAP EPS of $0.39 above the guided range of $0.32-$0.38 • Cash flow from operations of $41.9M • Repurchased 1.39M shares of common stock for $25.1M at an average pr
Slide 4: Q2'24 End Market Commentary
Q2’24 End Market Commentary End Market (% of Q2’24 Q2’23 Year on Year Growth Q3’24 Revenues) Guidance Aerospace & Defense 45% 47% 7% 45% Data Center Computing 21% 12% 93% 21% Medical, Industrial & 14% 16% (3%) 14% Instrumentation Automotive 14% 17% (10%) 14% Networking 6% 8% (16%) 6% 4
Slide 5: Q2 2024 Operational Metrics
Q2 2024 Operational Metrics Operating Metric Q2’24 Q2’23 Advanced Technology 45% 43% Asia Pacific PCB Capacity Utilization 64% 46% North America PCB Capacity Utilization 39% 38% Top 5 Customers 42% 40% Backlog $633.5 mn $556.2 mn A&D Program Backlog $1.45 bn $1.39 bn Book to Bill 1.11 1.04 5
Slide 6: Quarterly Financial Results and Guidance
Quarterly Financial Results and Guidance Financial Metric (Non-GAAP)1 Q2’24 Q2’23 Year on Year Change Q3’24 Guide Revenues $605.1 mn $546.5 mn 10.7% $580-$620 mn Operating Margin 9.0% 8.4% 0.6 pt N/A EBITDA Margin 14.0% 13.7% 0.3 pt N/A EPS $0.39 $0.32 $0.07 $0.37-$0.43 Cash flow from Ops $41.9 mn $
Slide 7: Additional Financial Guidance for Q3'24
Additional Financial Guidance for Q3’24 • Non-GAAP – SG&A expense of ~9.8% – R&D expense of ~1.4% – Interest expense of ~$11.3 million – Interest income of ~$2.6 million – Effective tax rate of 10%-14% – Diluted share count of 103 million • GAAP – Depreciation expense of ~$26.2 million – Amortizatio
Slide 8: Thank You
7TT™M Technologies. Inspiring Innovation Thank You
Slide 9: Appendix
7TT™M Technologies. Inspiring Innovation Appendix
Slide 10: Non-GAAP Reconciliations Q2 24
Non-GAAP Reconciliations Q2 24 RECONCILIATIONS1 Second Quarter 2024 2023 Non-GAAP gross profit reconciliation2: GAAP gross profit $ 117,227 $ 98,507 Add back item: Amortization of definite-lived intangibles 2,335 2,423 Stock-based compensation 1,941 1,497 Unrealized (gain) loss on commodity hedge (4
Slide 11: Non-GAAP Reconciliations Q2 24
Non-GAAP Reconciliations Q2 24 RECONCILIATIONS1 Second Quarter 2024 2023 Non-GAAP net income and EPS reconciliation4: GAAP net income $ 26,352 $ 6,824 Add back items: Amortization of definite-lived intangibles 12,591 6,275 Stock-based compensation 6,580 5,121 Non-cash interest expense 506 497 Gain o
Slide 12: Non-GAAP Reconciliations Q2 24
Non-GAAP Reconciliations Q2 24 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