Market Verticals and Megatrends
ATTRACTIVE AND INCREASING OPERATING MARGINS
Strong Execution and Synergy Realization Post Coherent Transaction Close Driving Margins
Non-GAAP Gross Margin (1)
38.5%
40.3%
Q4 FY22
Proforma(2)
Q1 FY23
Non-GAAP Operating Margin (1)
21.3%
17.2%
Q4 FY22
Proforma(2)
Q1 FY23
(1)
All non-GAAP amounts exclude certain adjustments for share-based compensation, acquired intangible amortization expense, certain one-time transaction expenses, debt extinguishment expense, fair value
measurement period adjustments and restructuring and related items. See Appendix for reconciliation to most comparable GAAP measures.
(2) II-VI Incorporated and Coherent, Inc. figures are for the three months ended June 30, 2022
COHERENT
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