Investor Presentation - 13th Annual CEO Summit
Target Model with Significant Operating Leverage
($ in millions)
Annual Results
Target
QI
Model
2016
2017
2018
2019
2020
2021
Revenue
$406
$656
$824
$621
$914
$ 265
Gross Margin
16%
16%
17%
14%
15%
16%
19% - 20%
Operating Expenses
7%
6%
6%
8%
6%
6%
6%
Operating Margin
9%
11%
11%
6%
8%
10%
13 - 14%
EBITDA Margin
10%
11%
12%
8%
9%
11%
14%+
Net Margin
8%
10%
9%
5%
7%
8%
12%+
(1) Non-GAAP results and model reflect net income from continuing operations; excluding amortization of intangible assets, share-based compensation expense, tax adjustments related to those non-
GAAP adjustments, tax benefits from acquisitions and non-recurring charges. Non-GAAP EBITDA is defined as Non-GAAP net income from continuing operations, excluding interest, non-GAAP income
tax expense (benefit) and depreciation.
ichor
Proprietary
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