Slide 1: Benchmark Electronics
Benchmark Benchmark Electronics Sidoti Small Cap Conference June 12, 2025 | 1
Slide 2: Forward-Looking Statements Non-GAAP Financial Information
Forward-Looking 2025 Statements Non-GAAP Financial Information This document contains forward-looking statements within the meaning of Section 27A of the Management discloses certain non‐GAAP information to provide investors with additional Securities Act of 1933, as amended and Section 21E of the S
Slide 3: Conference Participants
Conference Participants Bryan Schumaker Paul Mansky EVP and CFO IR and Corp Dev
Slide 4: Benchmark By the Numbers
Benchmark By the Numbers $140M >10% 2.7 billion Gross Margin $ LTM Free Cash Flow $79M 10% Net Cash FCF + Dividend Yield Fiscal year ending 2024 Non-GAAP for the quarter ending March 2025 21 Global Manufacturing 12,500+ Engaged from design engineering to production and any point in between Team Memb
Slide 5: Global Services Locations
Global Services Locations Product Design & Engineering Centers Electronics Manufacturing Precision Technologies United States Europe Manufacturing 1. Concord, CA ● 1. Almelo, The Netherlands ●● 2. Santa Ana, CA ●● 2. Brasov, Romania ● 3. Tempe, AZ ●● 4. Mesa, AZ ● 5. Phoenix , AZ ● 6. Arden Hills, M
Slide 6: Our Sector Focus
Our Sector Focus Delivers a competitive advantage across multiple growth drivers https://app.hub Artificial Semiconductor Automation spot.com/conta Intelligence Proliferation & Robotics 2024-2028 cts/4349773/obj Sector Lifecycle CAGR * ects/0- 2/views/492014 Medical 8+ years 6% 75/list SmallSat Defe
Slide 7: Our Evolution to Higher Value Sectors
Our Evolution to Higher Value Sectors FY12 10% 5% 27% 25% 32% Medical Semi-Cap Industrial Communications Computing FY24 17% 27% 22% 18% 16% Medical Semi-Cap Industrial AC&C A&D Highly complex products and demanding regulatory environments | 7
Slide 8: Strategic Focus
Strategic Focus Sector strategy continues to drive results Cash flow discipline remains at the forefront • Sector focus and mix continues to • Generated >$140M in free cash flow support >10% gross margin over the last 12 months • Market share opportunities in addressed • Inventory and other working
Slide 9: Q1:25 Financial Highlights (Non-GAAP)
Q1:25 Financial Highlights (Non-GAAP) THREE MONTHS THREE MONTHS THREE MONTHS ENDED ENDED ENDED March 31 December 31 March 31 2024 2024 2025 ($ MILLIONS) Revenue $676 $657 $632 Gross Margin 10.0% 10.4% 10.1% Operating Margin 4.9% 5.1% 4.6% Effective Tax Rate 24.3% 22.4% 25.0% EPS $0.55 $0.61 $0.52 |
Slide 10: Q1:25 Sector Performance
Q1:25 Sector Performance Sales $MM Q/Q 19% Semi-Conductor Capital $195 -2% Equipment 32% Industrial $137 -2% $632 11% Aerospace & Defense $122 +4% MILLION 16% Medical $104 -12% 22% Advanced Computing $74 -12% & Communications | 10
Slide 11: Trended Non-GAAP Results
Trended Non-GAAP Results (Dollars in Millions, except EPS) | 11
Slide 12: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow (In Millions) Q1-24 Q4-24 Q1-25 Cash Flows from Operations $48 $46 $32 Free Cash Flow (1) $43 $37 $27 Share Repurchases $0 $0 $8 Cash $296 $328 $355 • Eighth consecutive quarter of positive Free Cash Flow • Strong balance sheet and leverage ratio Debt Structure (In Millio
Slide 13: Working Capital Trends
Working Capital Trends Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Accounts Receivable Days 56 51 51 57 53 Contract Asset Days 24 25 26 23 25 Inventory Days 94 90 89 85 89 Accounts Payable Days (52) (52) (54) (54) (61) Advance Payments from Customers Days (28) (24) (22) (22) (20) Cash Conversion Cycle Days 94 90
Slide 14: Sector Commentary and Outlook
Sector Commentary and Outlook * Semi-Cap Industrial Aerospace & Defense • Experienced strong growth year-on-year • Good bookings momentum in the quarter • Continued strength in defense, commercial supported by new program ramps • Test and measurement subsector softer air moderating • Continue to gai
Slide 15: Summary
Summary 1. Manage potential demand shifts from tariffs while protecting profitability • Continue to deliver >10% non-GAAP gross margin • Partner with customers to deliver optimized supply chain solutions 2. Drive Free Cash Flow • Focus on continued inventory turns and other working capital optimizat
Slide 16: Appendix
Appendix Benchmark 25 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark
Slide 17: Reconciliation of GAAP to non-GAAP
APPENDIX 1 – Reconciliation of GAAP to non-GAAP (Dollars in thousands, except per share data – Unaudited) Three Months Ended June 30, September 30, December 31, March 31, June 30, September 30, December 31, March 31, 2023 2023 2023 2024 2024 2024 2024 2025 Income from operations (GAAP) $ 24,481 $ 30