GlobalFoundries Results Presentation Deck
Adjusted Gross Margin Trend (1,2)
(Unaudited)
(12.3)%
(20.6)%
Q4'20
7.0 %
16.5 %
Q1'21
18.0 %
21.5%
Q3'20
Q2'21
Q3'21
Q4'21
Note:
1. 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 divided by revenue. Please
see Appendix for a reconciliation of adjusted non-IFRS to IFRS metrics.
2.
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 basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, adjusted gross profit for the quarters ended September
30, 2020 and December 31, 2020 would have been an estimated $10 million and $166 million higher, respectively.
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