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Quarterly Earnings Review November 20, 2025 1 Kulicke & Soffa Nasdaq: KLIC Q4F25 Ended October 4, 2025
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2 Earnings Review Safe Harbor In addition to historical statements, this presentation contains statements relating to future events and our future results based on management’s expectations as of November 19, 2025. These statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, the factors listed or discussed in our 2024 Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. Kulicke and Soffa Industries, Inc. is under no obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. A reconciliation of non-GAAP items is included in this presentation and available within our most recently filed earnings release. Use of Non-GAAP Financial Results In addition to U.S. GAAP ("GAAP") results, this presentation also contains the following non-GAAP financial results: income from operations, operating margin, operating expenses, net income, net margin, net income per fully diluted share and adjusted free cash flow. The Company's non-GAAP results exclude amortization related to intangible assets acquired through business combinations, costs associated with restructuring and severance, equity-based compensation, acquisition and integration costs, impairment relating to assets acquired through business combinations, long-lived asset impairment relating to business cessation or disposal, impairment relating to equity investments, income tax expense/benefit arising from discrete tax items triggered by acquisition, disposal of business (both via a sale or an abandonment), restructuring and significant changes in tax laws, gain/loss on disposal of business, as well as tax benefits or expenses associated with the foregoing non-GAAP items. The non-GAAP adjustments may or may not be infrequent or nonrecurring in nature, but are a result of periodic or non-core operating activities. These non-GAAP measures are consistent with the way management analyzes and assesses the Company’s operating results. The Company believes these non-GAAP measures enhance investors’ understanding of the Company’s underlying operational performance, as well as their ability to compare the Company’s period-to-period financial results and the Company’s overall performance to that of its competitors. Management uses both GAAP metrics as well as these non-GAAP metrics to evaluate the Company's operating and financial results. Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in the Company’s industry, as other companies in the industry may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on the Company’s reported financial results. The presentation of non-GAAP items is meant to supplement, but not substitute for, GAAP financial measures or information. The Company believes the presentation of non-GAAP results in combination with GAAP results provides better transparency to the investment community when analyzing business trends, providing meaningful comparisons with prior period performance and enhancing investors' ability to view the Company's results from management's perspective. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP measure presented in this presentation is contained in the Appendix to this presentation.
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• Operational efficiency, customer engagement & new product execution ongoing • Technology & capacity-related order activity driving General Semi & Memory recovery • Automotive/Industrial anticipated to improve sequentially into Q1F26 Revenue $177.6M Net Income $6.4M Non-GAAP Net Income* $14.9M EPS $0.12 Non-GAAP EPS* $0.28 3 Q4F25 Results Q4F25 Update Internally Focused & Optimized for Growth *Please see Non-GAAP Reconciliation for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures. Overview CEO Transition Market Summary • End market dynamics improving through key regions ◦ General Semi & Memory orders improving ◦ Auto/Industrial showing signs of improvement • Near term focus ◦ Prepare operationally for production ramp ◦ Continue to execute on multiple parallel technology transitions • Collectively wish Fusen all the best in retirement • Management team well prepared to continue driving organizational strategy
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General Semi Improving utilization dynamics in key regions Auto & Industrial Demand remained soft due to industry headwinds, anticipate sequential improvement Memory Share gains expected as low-power and high-power HBM assembly evolve APS Higher productivity of installed base supported sequential increase General Semi 99 5 Yr Avg 4Q243Q254Q25 0 100 200 —% 80.0% Auto & Industrial 12 5 Yr Avg 4Q243Q254Q25 0 50 100 —% 40% Memory 24 5 Yr Avg 4Q24 3Q25 4Q25 0 25 50 —% 20% APS 43 5 Yr Avg 4Q243Q254Q25 0 50 100 —% 30% Q4F25 Revenue Composition By End Market As a percent of total Company revenue Revenue per quarter (millions USD) 5Yr Avg = quarterly average of preceding five fiscal years
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• Increasing packaging complexity • Recently launched - Asterion® pin-welding system with SonotrodeTM technology • Anticipate sequential improvements in Q1F26 • Expanding portfolio • ACELONTM - introduced in Taiwan this past Sept • Recurring & new customer orders • Adjacent opportunities across served markets • Broadening customer adoption of Fluxless ThermoCompression (FTC) • Initial HBM system shipping Q1F26 • Robust FTC process and material handling capabilities 5 Q4F25 Update Aligned with Technology Transitions ThermoCompression Advanced Dispense Vertical Wire Power Semiconductor • Mitigates shrink challenges via Advanced Packaging to support On Device AI • High volume production anticipated in FY26 with major Memory customer • Anticipate long-term transition to stacked DRAM - Mobile HBM or LPWIO DRAM
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Demand stronger than anticipated Execution on close market engagements is ongoing Q4F25 Financial Results $177.6M Up 19.6% Q/Q $69.8M Up $1.8M Q/Q 6.6% $0.28 6 *Please see Non-GAAP Reconciliation for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures. OpEx model provides operational leverage
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$Millions, except %, EPS, and share count Q4F24 Q3F25 Q4F25 Q/Q Y/Y Revenue $181.3 $148.4 $177.6 $29.2 $(3.7) Gross Margin 48.3% 46.7% 45.7% -100 bps -260 bps Operating Expenses $85.0 $75.3 $80.3 $5.0 $(4.7) Operating Income / (Loss) $2.7 $(6.1) $0.9 $7.0 $(1.8) Non-GAAP Net Income* $18.5 $3.8 $14.9 $11.1 $(3.6) Diluted EPS $0.22 $(0.06) $0.12 $0.18 $(0.10) Non-GAAP Diluted EPS* $0.34 $0.07 $0.28 $0.21 $(0.06) Diluted Share Count 54.9 M 52.7 M 52.5 M (0.2) M (2.4) M *Please see Non-GAAP Reconciliation for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures. 7 Income Statement Q4F25 Summary Items
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$Millions Q4F25 Q3F25 Q2F25 Q1F25 Q4F24 Accounts and Other Receivables $183.5 $173.8 $173.9 $247.9 $193.9 Inventory $160.2 $158.3 $155.7 $185.1 $177.7 Accounts Payable $57.2 $52.7 $48.4 $49.0 $58.8 Net Cash* $322.5 $368.0 $398.5 $369.2 $393.4 Working Capital Days** 362 450 425 458 403 Share Repurchases $16.7 $21.6 $21.3 $36.9 $42.7 Dividends $10.6 $10.8 $10.9 $11.0 $10.8 Balance Sheets & Cash Flow Q4F25 Summary Items 8 *Net cash = Total Cash & Investments less Current Liabilities **Calculated using ending period values
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Strengthening General Semi & Memory dynamics Outlook Q1F26 9 Half F26 sequential growth expected to stem from tech transitions & share gains $190M +/- $10M 47.0% +/- 100 bps $0.33 +/- 10% $71.0M +/- 2% *Please see Non-GAAP Reconciliation for composition of Non-GAAP guidance items. * Preparing production for recovery across all end markets
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For additional information investor.kns.com investor@kns.com Earnings Review Q&A
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Three months ended October 4, 2025 September 28, 2024 June 28, 2025 Net revenue $ 177,558 $ 181,319 148,413 U.S. GAAP income / (loss) from operations 888 2,689 (6,094) U.S. GAAP operating margin 0.5 % 1.5 % (4.1) % Pre-tax non-GAAP items: Amortization related to intangible assets 308 1,266 308 Restructuring 2,797 2,294 287 Equity-based compensation 7,800 6,439 7,092 Non-GAAP income from operations $ 11,793 $ 12,688 $ 1,593 Non-GAAP operating margin 6.6 % 7.0 % 1.1 % Reconciliation of U.S. GAAP to Non-GAAP Income from Operations and Operating Margin (In thousands, except percentages) (Unaudited) Non-GAAP Reconciliations
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Reconciliation of U.S. GAAP to Non-GAAP Operating Expenses (In thousands) (Unaudited) Non-GAAP Reconciliations Three months ended October 4, 2025 September 28, 2024 June 28, 2025 U.S. GAAP operating expenses $ 80,322 $ 84,968 $ 75,337 Total Non-GAAP adjustments Equity-based compensation - Selling, general and administrative 5,036 4,441 4,527 Equity-based compensation - Research and development 2,343 1,758 2,189 Amortization related to intangible assets 308 1,266 308 Restructuring 2,797 2,294 287 Non-GAAP operating expenses $ 69,838 $75,209 $ 68,026
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Twelve months ended Three months ended October 4, 2025 October 4, 2025 September 28, 2024 June 28, 2025 Net revenue $ 654,081 $ 177,558 $ 181,319 $ 148,413 U.S. GAAP net income / (loss) 213 6,379 12,117 (3,289) U.S. GAAP net margin 0.03 % 3.6 % 6.7 % (2.2) % Non-GAAP adjustments: Amortization related to intangible assets 3,033 308 1,266 308 Restructuring 12,719 2,797 2,294 287 Equity-based compensation 28,526 7,800 6,439 7,092 Impairment charges 39,817 — — — Gain relating to cessation of business (75,987) — — — Income tax benefit - US one-time transition tax — — (6,461) — Net income tax expense / (benefit) on non-GAAP items 2,673 (2,411) 2,866 (626) Total non-GAAP adjustments $ 10,781 $ 8,494 $ 6,404 $ 7,061 Non-GAAP net income $ 10,994 $ 14,873 $ 18,521 $ 3,772 Non-GAAP net margin 1.7 % 8.4 % 10.2 % 2.5 % Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Margin and U.S. GAAP net income per share to Non-GAAP net income per share (In thousands, except percentages and per share data) (Unaudited) Non-GAAP Reconciliations
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Twelve months ended Three months ended October 4, 2025 October 4, 2025 September 28, 2024 June 28, 2025 U.S. GAAP net per share: Basic $ 0.004 $ 0.12 $ 0.22 $ (0.06) Diluted(a) $ 0.004 $ 0.12 $ 0.22 $ (0.06) Non-GAAP adjustments per share:(b) Basic 0.21 $ 0.16 $ 0.12 $ 0.13 Diluted 0.21 $ 0.16 $ 0.12 $ 0.13 Non-GAAP net income per share: Basic 0.21 $ 0.28 $ 0.34 $ 0.07 Diluted(c) 0.21 $ 0.28 $ 0.34 $ 0.07 Weighted average shares outstanding: Basic 52,955 52,093 54,368 52,692 Diluted 53,193 52,464 54,871 52,866 Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Margin and U.S. GAAP net income per share to Non-GAAP net income per share (In thousands, except percentages and per share data) (Unaudited) Non-GAAP Reconciliations (a) GAAP diluted net earnings per share reflects any dilutive effect of outstanding restricted stock, but that effect is excluded when calculating GAAP diluted net loss per share because it would be anti-dilutive. (b) Non-GAAP adjustments per share include amortization related to intangible assets acquired through business combinations, costs associated with restructuring and severance, equity-based compensation expenses, impairment relating to assets acquired through business combinations, long-lived asset impairment relating to business cessation or disposal, gain relating to disposal or cessation of business, and income tax effects associated with the foregoing non-GAAP items. (c) Non-GAAP diluted net earnings per share reflects any dilutive effect of outstanding restricted stock, but that effect is excluded when calculating Non-GAAP diluted net loss per share because it would be anti-dilutive.
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Twelve months ended Three months ended October 4, 2025 October 4, 2025 September 28, 2024 June 28, 2025 U.S. GAAP net cash provided by operating activities $ 113,565 $ 7,406 $ 31,619 $ 7,380 Purchases of property, plant and equipment (17,203) (2,957) (2,468) (2,090) Proceeds from sales of property, plant and equipment 207 — 27 147 Non-GAAP adjusted free cash flow 96,569 $ 4,449 $ 29,178 $ 5,437 Reconciliation of U.S. GAAP Cash provided by Operating Activities to Non-GAAP Adjusted Free Cash Flow (In thousands) (unaudited) Non-GAAP Reconciliations
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Non-GAAP Adjustments A. Equity-based compensation - Cost of sales 0.4 B. Equity-based compensation - Selling, general and administrative and Research and development 6.8 C. Amortization related to intangible assets 0.3 D. Restructuring expenses 2.0 E. Gain relating to discontinued business (0.3) F. Net income tax effect of the above items (1.3) Reconciliation of U.S. GAAP to Non-GAAP Outlook (In millions, except per share data) (Unaudited) (1) GAAP and non-GAAP diluted EPS based on approximately 52.0 million diluted weighted average shares outstanding. The tables above reconcile our GAAP to non-GAAP guidance based on the current outlook. The guidance does not incorporate the impact of any potential business combinations, divestitures, unannounced restructuring activities, strategic investments and other significant transactions. The timing and impact of such items are dependent on future events that may be uncertain or outside of our control. Non-GAAP Reconciliations First quarter of fiscal 2026 ending January 3, 2026 GAAP Outlook Adjustments Non-GAAP Outlook Net revenue $190 million +/- $10 million — $190 million +/- $10 million Operating expenses $79.8 million +/- 2% $8.8 million B,C, D, E $71.0 million +/- 2% Diluted EPS(1) $0.18 +/- 10%% $0.15 A - F $0.33 +/- 10%