Lumentum Holdings Inc. · NASDAQ:LITE
Lumentum — Q4 2022 Earnings Presentation
13 slides from Lumentum's earnings presentation, Aug 16, 2022
Slide 1: Q4 FY22 Conference Call
Q4 FY22 Conference Call August 16, 2022
Slide 2: Forward Looking Statements and Financial Presentation
Forward Looking Statements and Financial Presentation This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding our expectations for our markets, an
Slide 3: FY22 Key Points
FY22 Key Points ▪ Strong investments in new products and capabilities enable growth – Telecom, Datacom & Lasers revenue expected to be up >50% in FY23 ▪ Continued strong share repurchases – Repurchased 9.1 million shares over the last two fiscal years – Confidence in long-term opportunities to deliv
Slide 4: Financial Trends FY15 to FY22 (GAAP)
Financial Trends FY15 to FY22 (GAAP) Net Revenue (M) GAAP Gross Margin (% of revenue) $1,679 $1,743 $1,713 46.0% $1,565 44.9% $1,248 38.7% $1,002 $903 34.6% $837 30.8% 30.7% 31.8% 27.2% FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 GAAP Earnings Per Share GAAP Opera
Slide 5: Financial Trends FY15 to FY22 (Non-GAAP)
Financial Trends FY15 to FY22 (Non-GAAP) Net Revenue (M) Non-GAAP Gross Margin (% of revenue) 50.9% 51.6% $1,679 $1,743 $1,713 46.5% $1,565 $1,248 38.9% 39.5% $1,002 34.7% $837 $903 33.0% 32.5% FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Non-GAAP Earnings Per Shar
Slide 6: Q4 FY22 Key Points
Q4 FY22 Key Points ▪ Improving IC supply in Telecom – Gap between supply and demand expected to narrow from >$100M in Q4 to ~$75M in Q1 – Cloud and networking end customers beginning multi-year upgrades, relying on our products ▪ Telecom & Datacom – Revenue up 16% Q/Q, consistent with expectations,
Slide 7: Q4 FY22 Results (GAAP)
Q4 FY22 Results (GAAP) $ in millions Q4 FY22 Q3 FY22 Q4 FY21 except for EPS, % of revenue Revenue $422.1 $395.4 $392.1 Gross Margin 181.7 43.0% 167.2 42.3% 162.8 41.5% Operating Expenses 126.3 29.9% 120.4 30.5% 117.0 29.8% Operating Income 55.4 13.1% $46.8 11.8% 45.8 11.7% Diluted EPS $0.49 $0.35 $0
Slide 8: Q4 FY22 Results (Non-GAAP)
Q4 FY22 Results (Non-GAAP) $ in millions Q4 FY22 Q3 FY22 Q4 FY21 except for EPS, % of revenue Revenue $422.1 $395.4 $392.1 Gross Margin 212.7 50.4% 195.6 49.5% 187.2 47.7% Operating Expenses 91.1 21.6% 90.7 22.9% 90.6 23.1% Operating Income 121.6 28.8% 104.9 26.5% 96.6 24.6% Diluted EPS $1.47 $1.19
Slide 9: Q4 FY22 Segment Results
Q4 FY22 Segment Results Q4 FY22 Q3 FY22 Q4 FY21 $ in millions Revenue $422.1 $395.4 $392.1 Optical Communications 370.9 344.2 355.2 Telecom & Datacom 282.1 243.5 256.4 Industrial & Consumer (1) 88.8 100.7 98.8 Commercial Lasers 51.2 51.2 36.9 Gross Margin (Non-GAAP) 50.4 % 49.5 % 47.7 % Optical Comm
Slide 10: Balance Sheet
Balance Sheet Selected Items Q4 FY22 Q3 FY22 $ in millions Cash and Short-term Investments $2,549.0(1) $2,564.1 Working Capital(2) 283.6 281.9 Property, Plant & Equipment, net 360.5 356.4 Total Assets 4,162.2 4,133.5 Total Liabilities 2,287.2 2,221.4 Shareholder’s Equity 1,875.0 1,912.1 (1) Repurcha
Slide 11: Q1 FY23 Guidance (Non-GAAP)
Q1 FY23 Guidance (Non-GAAP) Guidance is based on our expectations as of today and will not be updated or confirmed as of any other date Q4 FY22 Q1 FY23 $ in millions Actual Guidance except for EPS, % of revenue Revenue $422.1 $490 - $520 Operating Margin 28.8% 25.0% - 27.0% Diluted EPS $1.47 $1.45 -
Slide 12: FY23 Outlook (Non-GAAP)
FY23 Outlook (Non-GAAP) This one-time outlook is based on our expectations as of today and will not be updated or confirmed as of any other date FY22 FY23 $ in millions except for EPS, % of revenue Actual Outlook Revenue $1,713 $2,100 - $2,250 Operating Margin 30.8% 24.0% - 26.0% Diluted EPS $6.05 $
Slide 13: Thank you
Thank you ZLUMENTUM