GlobalFoundries Inc. · NASDAQ:GFS
GlobalFoundries — Q3 2022 Earnings Presentation
20 slides from GlobalFoundries's earnings presentation, Nov 8, 2022
Slide 1: Third Quarter 2022 Financial Results
Third Quarter 2022 Financial Results (unaudited) November 8, 2022
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation include “forward-looking statements,” that reflect our current expectations and views of future events. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Ac
Slide 3: Q3'22 Results
Q3’22 Results 3
Slide 4: Key Q3'22 Results
Key Q3’22 Results (Unaudited) Revenue Adjusted EBITDA & Margin Wafer Shipments Millions USD Millions USD 300mm equivalents (k) +22% +57% +5% 2,074 793 1,700 637 609 505 38.2% 29.7% Q3’21 Q3’22 Q3’21 Q3’22 Q3’21 Q3’22 Note: We define adjusted EBITDA as net income (loss), excluding the impact of finan
Slide 5: Key Recent Announcements
Key Recent Announcements GF qualified a proprietary automotive U.S. Senator GF announced that eNVM product for one Patrick Leahy and the company has of the largest GF announced the been added to the automotive MCU award of $30m in Philadelphia Stock suppliers in the federal funding to Exchange indus
Slide 6: Quarterly Revenue Trend
Quarterly Revenue Trend (Unaudited, Millions USD) 2,074 1,940 1,993 1,847 +22% Y/Y 1,700 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 GlobalFoundries © 2022 All Rights Reserved 6
Slide 7: Adjusted Gross Margin Trend
Adjusted Gross Margin Trend (Unaudited) 29.9% 28.0% 25.3% +1190 bps 21.5% 18.0% Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Note: Adjusted gross profit (loss) for a particular period is defined as gross profit (loss) adjusted for share-based compensation expense; adjusted gross margin is adjusted gross profit div
Slide 8: Adjusted EBITDA Margin Trend
Adjusted EBITDA Margin Trend (Unaudited) 39.3% 38.2% 36.0% 31.6% +850 bps 29.7% Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Note: We define adjusted EBITDA as net income (loss), excluding the impact of finance expense, income tax expense, depreciation, amortization, share-based compensation expense, transaction g
Slide 9: Q3'22 Financial Summary
Q3’22 Financial Summary (Unaudited, in millions USD, except per share data and wafer shipments) Note: (1) Adjusted gross profit, adjusted operating profit (loss), adjusted net income (loss), adjusted diluted EPS, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFR
Slide 10: Q3'22 Revenue by End Market
Q3’22 Revenue by End Market (Unaudited, in millions USD) Year-over-year Sequential Q3’22 Q2’22 Q3’21 Q3’22 vs Q3’21 Q3’22 vs Q2’22 Smart Mobile Devices $954 $969 $849 $105 12% $(15) (2)% Communications Infrastructure & Datacenter $368 $342 $285 $83 29% $26 8% Home and Industrial IoT $398 $346 $218 $
Slide 11: Revenue Mix by End Market
Revenue Mix by End Market (Unaudited) Smart Mobile Devices 8% 10% 7% Communications 2% 5% Infrastructure & Datacenter 6% Home & Industrial IoT Q3’21 Q3’22 46% 50% Automotive 13% 19% Personal Computing Non-Wafer & Corporate Other 17% 18% GlobalFoundries © 2022 All Rights Reserved 11
Slide 12: Q4'22 Guidance
Q4’22 Guidance 12
Slide 13: Q4'22 Guidance
Q4’22 Guidance (Unaudited, in millions USD except per share amounts) Notes: The guidance provided above contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created therein. The guidance includes management’s belief
Slide 14: Appendix: Summary Financials and Reconciliations
Appendix: Summary Financials and Reconciliations 14
Slide 15: Statement of Operations
Statement of Operations (Unaudited, in millions USD except per share amounts) Note: In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment b
Slide 16: Balance Sheet
Balance Sheet (Unaudited, in millions USD) GlobalFoundries © 2022 All Rights Reserved 16
Slide 17: Statement of Cash Flows
Statement of Cash Flows (Unaudited, in millions USD) . GlobalFoundries © 2022 All Rights Reserved 17
Slide 18: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (Unaudited, in millions USD except per share amounts) . GlobalFoundries © 2022 All Rights Reserved 18
Slide 19: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (Unaudited, in millions USD) Note: Effective Q3’22, the Company has revised its definition of Adjusted EBITDA to include an adjustment for finance income. GlobalFoundries © 2022 All Rights Reserved 19
Slide 20: Thank you
For further information, please contact: Investor Relations [email protected] Thank you The information contained herein is the property of GlobalFoundries and/or its licensors. This document is for informational purposes only, is current only as of the date of publication and is subject to change by Global