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INVESTOR PRESENTATION NOVEMBER 13, 2025 SEAN BAGAN: PRESIDENT AND CHIEF EXECUTIVE OFFICER TANIA ALMOND: VICE PRESIDENT OF INVESTOR RELATIONS & CORPORATE COMMUNICATION
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SAFE HARBOR This presentation and oral statements made by management in connection herewith that are not historical facts are contains “f orward‐looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward‐looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, and assumptions made by Helios Technologies, Inc. (“Helios,” the “Company,” "we," "us," or "our"), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, ( i) the Company’s strategies regarding growth, and improving margins, including its intention to develop new products and undertake acquisitions and divestitures; (ii) the effectiveness of creating the Centers of Excellence; (iii) our financial plans; (iv) trends affecting the Company’s financial condition or results of operations; (v) the Company’s ability to continue to control costs and to meet its liquidity and other financing needs; (vi) the Company’s ability to declare and pay dividends; (vii) the Company’s ability to respond to changes in customer demand domestically and internationally, including as a result of the cyclical nature of our business; and (viii) th e Company's ability to mitigate the impacts of changes in trade policy on our business. In addition, we may make other written or oral statements, which constitute forward-looking statements, from time to time. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward -looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward‐looking sta tements include, but are not limited to, (i) the Company’s ability to respond to global economic trends and changes in customer demand domestically and internationally, including as a result of standardization and the cyclical nature of our business, which can adversely affect the demand for capital goods; (ii) supply chain disruption and the potential inability to procure goods; (iii) conditions in the capital markets, in cluding the interest rate environment and the continued availability of capital on terms acceptable to us, or at all; (iv) global and regional economic and political conditions, including trade policy, tariffs and other trade barriers, inflation, exchange rates, changes in the cost or availability of energy, transportation, the availability of other necessary supplies and services and recession; (v) changes in the competitive marketplace that could af fect the Company’s revenue and/or cost bases, such as increased competition, lack of qualified engineering, marketing, management or other personnel, and increased labor and raw materials costs; (vi) risks related to health epidemics, pandemics and similar outbreaks, which may among other things, adversely affect our supply chain, material costs, and work force and may have material adverse effects on our business, financial position, results of operations and/or cash flows; (vii) risks related to our international operations, including potential impacts from the ongoing geopolitical conflicts in Ukraine and the Middle East; (viii) risks relating to our recent management transition; (ix) new product introductions, product sales mix and the geographic mix of sales nationally and internationally; and (x) stakeholders, including regulators, views regarding o ur environmental, social and governance goals and initiatives, and the impact of factors outside of our control on such goals and initiatives. Further information relating to additional factors that could cause act ual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended December 28, 2024, filed with the Securities and Exchange Commission (SEC) on February 25, 2025, as well as any subsequent filings with the SEC. Helios has presented non-GAAP measures including adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, and adjusted net income per diluted share and sales in constant currency. Helios believes that providing these sp ecific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. The determination of the amounts that are excluded from these Non-GAAP measures is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income recognized in a given period. You should not consider the inclusion of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. Please carefully review the Non -GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies. This presentation also presents forward-looking statements regarding Non-GAAP measures, including adjusted EBITDA, adjusted EBITDA margin and adjusted net income per diluted share. The Company is unable to present a quantitative reconciliation of these forward-looking Non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s 2025 financial results. These Non-GAAP financial measures are preliminary estimates and are subject to risks and uncertainties, including, among others, changes in connection with quarter -end and year-end adjustments. Any variation between the Company’s actual results and preliminary financial data set forth above may be material. 2
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IMPROVING RESULTS AS GROWTH RETURNS FROM PRODUCT INNOVATION & RE FINED FOCUS 3Q25 ACTUALS & OUTLOOK FOR BALANCE OF 2025 3 4Q25 QUARTERLY OUTLOOK +2% to +3% $820M to $830M Relative to 2024 at $805.9M * -10 bps to +20 bps 19.1% to 19.4% +16% to +19% $2.43 to $2.50 ISSUED ON 11/3/2025ISSUED ON 11/3/2025 (1) See Supplemental Information for definition of adjusted EBITDA margin, diluted Non-GAAP EPS and reconciliations from GAAP, as well as other disclaimers on Non-GAAP information * FY24 contained $61.0M and 4Q24 $15.6M sales from CFP that is now divested +7% to +13% $192M to $202M Relative to 4Q24 at $179.5M * +260 bps to +360 bps 20.0% to 21.0% +103% to +124% $0.67 to $0.74 2025 FULL YEAR OUTLOOK SALES 3Q25 QUARTERLY ACTUAL REPORTED ON 11/3/2025 +13% $220M -40 bps 20.5% +22% $0.72 ADJUSTED EBITDA MARGIN(1) DILUTED NON-GAAP EPS(1) Arrows and variances are relative to the prior year comparable actual results
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GLOBAL INDUSTRIAL TECHNOLOGY LEADER Helios Technologies, Inc. (NYSE: HLIO) Global leader in highly engineered motion control and electronic controls technology for diverse end markets • Pathway to outsized growth driven by diversification and superior product innovation • Improving financial profile with ample liquidity and robust cash flow generation • Driving shareholder returns a top priority → paid quarterly dividend for over 28 years Market Channels (3) Geographies (3) HydraulicsElectronics 35% 65% Segments (3) APAC 24% Americas 53% 23% OEM’s 58% Distributors & Integrators 42% EMEA (1) Annual Revenue based mid-point of latest 2025 Outlook issued 11/3/25 (2) Market Capitalization as of 11/10/25 (3) Financial data represents TTM 3Q25 Financial Data (1,2) $825M $1.8B Annual Sales Market Capitalization 4DIVERSIFIED SMALL -CAP WITH STRONG FINANCIAL PROFILE AND CASH FLO W GENERATION
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RICH HERITAGE OF BUSINESSES WITHIN OUR PORTFOLIO 5 74 YEARS IN BUSINESS 48 YEARS IN BUSINESS 30 YEARS IN BUSINESS 79 YEARS IN BUSINESS 25 YEARS IN BUSINESS 86 YEARS IN BUSINESS 45 YEARS IN BUSINESS 22 YEARS IN BUSINESS 30 YEARS IN BUSINESS 55 YEARS IN BUSINESS HELIOS TECHNOLOGIES IS CELEBRATING OUR 55 TH ANNIVERSARY IN 2025
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CAPITAL DEPLOYED TO DIVERSIFY AND TRANSFORM THE COMPANY TRANSFORMATION OF HELIOS THROUGH ACQUISITIONS 6 Acquired NEM S.r.l. (Flywheel) December April NovemberAugust July July September January 2016 2021 Acquired Assets of BJN Technologies (Flywheel) c c c c c c c c c c c c Acquired Taimi (Flywheel) May 2018 2020 2022 2023 Acquired Enovation Controls (Transformational) Acquired Faster s.r.l. (Transformational) Acquired Custom Fluidpower (Flywheel) Acquired Balboa Water Group (Transformational) January October Acquired Joyonway (Flywheel) Acquired Daman (Flywheel) Acquired Schultes Precision Manufacturing (Flywheel) Acquired i3 Product Development (Flywheel) Designates Transformational Acquisition 2025 September Divested Custom Fluidpower to Questas
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$201 $197 $343 $508 $555 $523 $869 $885 $836 $806 $825 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E HELIOS STEP LEVEL GROWTH FUELED BY CAPITAL DEPLOYED ON ACQUISITI ONS FINANCIAL PROGRESSION OVER THE PAST DECADE 7 ($ in millions) Electronics Sales Hydraulics Sales Adj EBITDA Margin (1) 19.2%19.3%23.2%24.6%23.2%23.6%24.5%25.4%24.4%28.6% (1) See Supplemental Information for definition of adjusted EBITDA margin and reconciliations from GAAP, as well as other disclaimers on Non-GAAP information (2) 2025E based on mid-point of outlook issued on November 3, 2025 19.3% Fiscal Year:
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STAYING FOCUSED ON CASH CYCLES TO DRIVE ANOTHER STRONG YEAR 3Q25: CASH FLOW 8 Revenue $27.2 $49.1 $76.2 $94.0 $86.3 $78.0 $52.3 $95.1 $91.2 2017 2018 2019 2020 2021 2022 2023 2024 TTM 3Q25 86% 105% 126% 204% Adjusted Free Cash Flow Conversion (1) (2) ADJUSTED FREE CASH FLOW (1) 83% 79% 139% 244% • TTM 3Q25 adjusted FCF conversion(2) was 223%. • CapEx of $6.7M, or 3.0% of sales in 3Q25. • Cash conversion cycle decreased from the prior-year period reflecting improved inventory management and extending supplier payment terms. • Strong sales growth in the quarter resulted in an increase in accounts receivable. (1) Free cash flow, adjusted free cash flow, and adjusted free cash flow conversion are Non-GAAP financial measures; see Supplemental Information for a reconciliation to the most comparable GAAP measure (2) Adjusted free cash flow conversion is a Non-GAAP financial measure and defined as adjusted free cash flow divided by adjusted net income Note: TTM – trailing twelve months ($ in millions) Three Months Ended 9/27/25 9/28/24 Net Cash Provided by Operating Activities $25.2 $34.8 Capital Expenditures (CapEx) (6.7) (6.0) Free Cash Flow (FCF) (1) $18.5 $28.8 223% CONTINUED CASH GENERATION ON DISCIPLINED WORKING CAPITAL MANAGEMENT
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SERVING CUSTOMERS “IN THE REGION, FOR THE REGION” GEOGRAPHIC SALES MIX & GLOBAL FOOTPRINT 9 Note: Sales by region percentage based on fiscal year 2024 EMPLOYEE DISTRIBUTION AMERICAS 54% APAC 20% EMEA 26% Note: Employee distribution as of December 2024
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DIVERSIFICATION IS A KEY STRENGTH OF HELIOS TWO EXTERNAL REPORTING SEGMENTS 10 1 2
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LARGEST BUSINESSES WITHIN THE PORTFOLIO 11 FLAGSHIP BRANDS PRODUCTS KEY CUSTOMERS HYDRAULICS ELECTRONICSSEGMENT STRONG BRANDS DELIVERING CRITICAL PRODUCTS FOR OUR CUSTOMERS' AP PLICATIONS OPERATING COMPANIES
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Our trusted global brands deliver technology solutions that ensure safety, reliability, connectivity & control Precision manufacturing of products including cartridge valves, manifolds, parts in-body & integrated packages for mechanical & electro- hydraulics applications Manufacturer of quick-release couplings, swivel couplings, casting solutions & multi-connection for hydraulic & quick-connect applications 12 HYDRAULICS SEGMENT OVERVIEW STRONG BRANDS WITH A BROAD APPLICATION ACROSS A VARIETY OF INDUS TRIES
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ATTRACTIVE AND LARGE MARKETS POSITIONED FOR CONTINUOUS GROWTH HYDRAULICS SEGMENT END MARKETS 13 15% 20% 26% 39% Industrial Agriculture Other / Recreational Mobile $528M 65% of total Sales SALES BY END MARKET (TTM 3Q25)(1) (1) Sales by end market based on our best estimate classifications across our subsidiaries and segments • Material Handling • Construction • Forestry Equipment • Specialty Vehicles • Landscaping • Snow Removal • Industrial Machinery • Renewable Energy • Oil & Gas • Power Generation • Refrigeration • Tractors Front Lines • Tractor Front Loaders • Harvesters • Tipper Semitrailers • Marine • Mining • Multi Sector • Aerospace • Medial Device • Food & Beverage • Other Mobile Industrial Agricultural Other / Recreational
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ELECTRONICS SEGMENT OVERVIEW 14GLOBAL LEADERS IN THE MARKETS WE SERVE Electronic Controls and Accessories for Spas, Swim Spas & Walk-In Baths Rugged Electronic Monitoring and Control Solutions; Hydraulic Control Solutions; GPS Speed Control Custom Engineering Services; Remote Field Service Platform; Innovative Off-Road App Our trusted global brands deliver technology solutions that ensure safety, reliability, connectivity & control
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OPPORTUNITY TO GO DEEPER AND BROADER WITH EXISTING AND NEW CUSTO MERS ELECTRONICS SEGMENT END MARKETS 15 1% 9% 16% 33% 41% Agriculture Mobile Industrial Other / Recreational Health & Wellness $279M 35% of total Sales SALES BY END MARKET (TTM 3Q25)(1) (1) Sales by end market based on our best estimate classifications across our subsidiaries and segments • Marine • On/Off-Road Vehicles • Motorcycles • Snowmobiles • Aerospace • Food & Beverage • Mining • Medical Device • Entertainment • Food Service • Walk-in Baths • Spas & Swim Spas • Whirlpool Baths • Cold Plunge Tubs • Therapy Tubs • Industrial Machinery • Renewable Energy • Oil & Gas • Power Generation • Refrigeration • Material Handling • Construction • Forestry Equipment • Specialty Vehicles • Landscaping • Snow Removal Other / RecreationalIndustrialMobile Health & Wellness
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ACCELERATING PACE OF BRINGING NEW PRODUCTS TO MARKET PRODUCT INNOVATIONS INTRODUCED IN 2025 ACROSS BOTH SEGMENTS 16 Jan 2025: Enovation introduces the S35 Display Apr 2025: Sun expands electro- proportional cartridge valves, commercializes ENERGEN Apr 2025: Enovation launches CAN Keypad May 2025: Faster launches MultiSlide May 2025: Enovation and i3PD launch No Roads software leveraging Cygnus Jun 2025: Balboa Launches Purezone Jun 2025: Enovation launches High Current Power Distribution Module Jul 2025: Enovation launches Atlas Connect Gateway Oct 2025: Faster launches New MultiFaster Nov 2025: Faster launches Casting Solution GenYus
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STRIVING TO BE PREFERRED SUPPLIER TO OUR CUSTOMERS BY LEVERAGING STRONG SET OF ASSETS OUR CONNECTED FUTURE CREATING INDUSTRY LEADING SYSTEM SOLUTIONS LEVERAGING TOP TIER TECHNOLOGY 17
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BUILDING FROM A STRONG FOUNDATION TO BETTER LEVERAGE CAPACITY AN D CAPABILITIES 2025: KEY FOCUS AREAS 18 GO TO MARKET STRUCTURE Institutionalize the engine to track and drive sales funnel, cross-sell, and pipeline management ORGANIC GROWTH Protect and grow base business through capturing more wallet share of existing customers PROFIT IMPROVEMENT Implement ongoing cost and operational efficiencies through continuous improvement efforts PRODUCT LAUNCHES Maintain investment in innovation and accelerate launching of new, industry leading products TALENT DEVELOPMENT Ensure team members are in the right seats and fill key skill gaps for future career growth CAPITAL ALLOCATION Fold in new share repurchase program to existing allocation strategy maximizing ROIC
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DELIVER PROFITABLE SALES GROWTH WHILE IMPROVING THE OVERALL FINA NCIAL PROFILE OF HELIOS 2025: FINANCIAL PRIORITIES Reduce Debt 4 Utilizing free cash flow conversion proceeds To scale and elevate to new heights! Leverage Strong Foundation Shorten Cash Conversion Cycle Through improved working capital management With higher volumes and disciplined investment and cost management Drive Operating Leverage 2 3 5 Executing on profitable sales growth plan Return to Growth 1 19
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COMMITTED TO DRIVING LONG -TERM SHAREHOLDER RETURNS COMPELLING REASONS TO INVEST Flexible integrated operating company model to produce efficiencies and synergies through shared services 4 Strong financial profile supported by disciplined capital allocation and an experienced, values- driven executive leadership team Robust technology engine powered by deep customer insights that drive product development aimed at maximizing customer satisfaction In the region, for the region manufacturing centers of excellence designed to enhance operating leverage and support scalable growth 2 3 5 Premium portfolio of hydraulic and electronic products delivering tailored solutions for a diverse range of markets and customers 1 20
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SUPPLEMENTAL INFORMATION
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NON-GAAP ADJUSTED NET INCOME & NON-GAAP ADJUSTED NET INCOME PER DILUTED SHARE RECONCILIATION Non-GAAP Financial Measure: Adjusted net income per diluted share is adjusted net income divided by diluted weighted average common shares outstanding. Adjusted net income and adjusted net income per diluted share are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Neverthe less, Helios believes that providing Non-GAAP information such as adjusted net income and adjusted net income per diluted share is important for investors and other readers of Helios' financial statements , as they are used as analytical indicators by Helios’ management to better understand operating performance. Because adjusted net income and adjusted net income per diluted share are Non-GAAP measures and are thus susceptible to varying calculations, adjusted net income and adjusted net income per diluted share as presented, may not be directly comparable to other similarly titled measures used by other companies. (Unaudited) ($ in millions) 22 September 27, 2025 P er D iluted Share September 28, 2024 P er D iluted Share September 27, 2025 P er D iluted Share* September 28, 2024 P er D iluted Share GAAP n et in c o m e 1 0 . 3$ 0 . 3 1$ 1 1 . 4$ 0 . 3 4$ 2 8 . 9$ 0 . 8 7$ 3 4 . 2$ 1 . 0 3$ Amortization of intangible assets 8.3 0.25 8.4 0.25 25.8 0.77 24.7 0.74 Acquisition, divestiture, and financing-related expenses 1.4 0.04 0.1 - 1.7 0.05 0.7 0.02 Restructuring charges 0.1 - 1.2 0.04 1.4 0.04 4.4 0.13 Officer transition costs 0.2 0.01 0.8 0.02 0.7 0.02 1.3 0.04 Acquisition integration costs - - - - - - 0.3 0.01 Goodwill Impairment 25.9 0.78 - - 25.9 0.78 - - (Gain) on sale of business, Net of CTA loss (18.8) (0.56) - - (18.8) (0.56) - - Forward contract losses 0.5 0.01 - - 0.5 0.01 - - Other - - 0.1 - 0.6 0.02 0.2 0.01 Tax effect of above (3.9) (0.12) (2.3) (0.07) (8.3) (0.25) (7.0) (0.21) No n -GAAP Ad j u st ed n et in c o m e 2 4 . 0$ 0 . 7 2$ 1 9 . 7$ 0 . 5 9$ 5 8 . 4$ 1 . 7 5$ 5 8 . 8$ 1 . 7 7$ GAAP net income per diluted share 0.31$ 0.34$ 0.87$ 1.03$ Non-GAAP Adjusted net income per diluted share 0.72$ 0.59$ 1.75$ 1.77$ F o r the T hree M o nths Ended F o r the N ine M o nths Ended *General note: items may not sum or recalculate due to rounding
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NON-GAAP ADJUSTED EBITDA & NON-GAAP ADJUSTED EBITDA MARGIN RECONCILIATION *General note: items may not sum or recalculate due to rounding (Unaudited) ($ in millions) 23 Non-GAAP Financial Measure: Adjusted EBITDA margin is adjusted EBITDA divided by net sales. Adjusted EBITDA and adjusted EBITDA margin are not measures d etermined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing Non-GAAP information such as adjusted EBITDA and adjusted EBITDA margin are important for investors and other readers of Helios’ financial statements, as they are used as analytical indicators by Helios’ management to better understand operating performa nce. Because adjusted EBITDA and adjusted EBITDA margin are Non-GAAP measures and are thus susceptible to varying calculations, adjusted EBITDA and adjusted EBITDA margin, as presented, may not be directly compa rable to other similarly titled measures used by other companies. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitu te for GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and other related additional information provided. S e pt e mbe r 2 7 , 2025 M arg in S e pt e mbe r 2 8 , 2024 M arg in S e pt e mbe r 2 7 , 2025 M arg in S e pt e mbe r 2 8 , 2024 M arg in S e pt e mbe r 2 7 , 2025 M arg in N et inco me 10 .3$ 4 .7% 11.4$ 5.9 % 2 8 .9$ 4 .6 % 3 4 .2$ 5.5% 3 3 .7$ 4 .2 % Interest expense, net 6.9 3.1 % 9.0 4.6% 21 .3 3.4% 25.7 4.1 % 29.4 3.6% Income tax provision 2.5 1 .1 % 1 .9 1 .0% 8.3 1 .3% 8.7 1 .4% 1 1 .1 1 .4% Depreciation and amortization 1 5.9 7.2% 1 6.1 8.3% 47.8 7.6% 47.8 7.6% 63.8 7.9% EB IT D A 3 5.6 16 .2 % 3 8 .4 19 .7% 10 6 .3 16 .9 % 116 .4 18 .6 % 13 7.9 17.1% Acquisition, divestiture, and financing-related expenses 1 .4 0.6% 0.1 0.1 % 1 .7 0.3% 0.7 0.1 % 1 .7 0.2% Restructuring charges 0.1 0.1 % 1 .2 0.6% 1 .3 0.2% 4.4 0.7% 2.2 0.3% Officer transition costs 0.2 0.1 % 0.8 0.4% 0.7 0.1 % 1 .3 0.2% 1 .3 0.2% Goodwill Impairment 25.9 1 1 .8% - 0.0% 25.9 4.1 % - 0.0% 25.9 3.2% (Gain) on sale of business - Net of CTA loss (1 8.8) -8.5% - 0.0% (1 8.8) -3.0% - 0.0% (1 8.8) -2.3% Acquisition integration costs - 0.0% - 0.0% - 0.0% 0.3 0.0% 0.0 0.0% Forward contract losses 0.5 0.2% - 0.0% 0.5 0.1 % - 0.0% 0.5 0.1 % Change in fair value of contingent consideration - 0.0% - 0.0% - 0.0% - 0.0% 0.4 0.0% Other - 0.0% 0.1 0.1 % 0.6 0.1 % 0.2 0.0% (1 .7) -0.2% A d just ed EB IT D A 4 5.1$ 2 0 .5% 4 0 .6$ 2 0 .9 % 118 .4$ 18 .8 % 12 3 .3$ 19 .7% 14 9 .6$ 18 .5% GAAP net income margin 4.7% 5.9% 4.6% 5.5% 4.2% EBITDA margin 1 6.2% 1 9.7% 1 6.9% 1 8.6% 1 7.1 % Adjusted EBITDA margin 20.5% 20.9% 1 8.8% 1 9.7% 1 8.5% N et sales 2 2 0 .3$ 19 4 .5$ 6 2 8 .2$ 6 2 6 .4$ 8 0 7.7$ F o r t he T hree M o nt hs End ed F o r t he N ine M o nt hs End ed T welve M o nt hs End ed
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NON-GAAP ADJUSTED EBITDA & NON-GAAP ADJUSTED EBITDA MARGIN RECONCILIATION *General note: items may not sum or recalculate due to rounding (Unaudited) ($ in millions) 24 Non-GAAP Financial Measure: Adjusted EBITDA margin is adjusted EBITDA divided by net sales. Adjusted EBITDA and adjusted EBITDA margin are not measures d etermined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing Non-GAAP information such as adjusted EBITDA and adjusted EBITDA margin are important for investors and other readers of Helios’ financial statements, as they are used as analytical indicators by Helios’ management to better understand operating performa nce. Because adjusted EBITDA and adjusted EBITDA margin are Non-GAAP measures and are thus susceptible to varying calculations, adjusted EBITDA and adjusted EBITDA margin, as presented, may not be directly compa rable to other similarly titled measures used by other companies. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitu te for GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and other related additional information provided.
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NON-GAAP ADJUSTED FREE CASH FLOW RECONCILIATION Non-GAAP Financial Measure: Adjusted net cash provided by operating activities is net cash provided by operating activities less contingent consideration payment in excess of acquisition date fair value. Free cash flow is net cash provided by operating activities less capital expenditures. Adjusted free cash flow is adjusted net cash provided by operating activities less capital expenditures. Free cash flow conversion is a non-GAAP financial measure and defined as free cash flow divided by net income. Each of these measures has not been determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing this non-GAAP information is important for investors and other readers of Helios‘ financial statements, as they are us ed as analytical indicators by Helios‘ management to better understand our liquidity. Because these are non-GAAP measures, they are susceptible to varying calculations, and as presented, may not be directly comparable to o ther similarly titled measures used by other companies. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and other related additional information provided. (Unaudited) ($ in millions) 25 TTM December 30, 2017 December 29, 2018 December 28, 2019 January 2, 2021 January 1, 2022 December 31, 2022 December 30, 2023 December 28, 2024 September 27, 2025 Net cash provided by operating activities 49.4$ 77.5$ 90.5$ 108.6$ 113.1$ 109.9 83.9 122.1 116.8 Contingent consideration payment in excess of acquisition date fair value - - 10.7 - - - 2.7 - - Adjusted net cash provided by operating activities 49.4 77.5 101.2 108.6 113.1 109.9 86.6 122.1 116.8 Capital expenditures 22.2 28.4 25.0 14.6 26.8 31.9 34.3 27.0 25.6 Adjusted Free cash flow 27.2$ 49.1$ 76.2$ 94.0$ 86.3$ 78.0 52.3 95.1 91.2 Net income 31.6 46.7 60.3 14.2 104.6 98.4 37.5 39.0 33.8 Gain on divestiture of a business (18.8) Goodwill impairment - - - 31.9 - - - - 25.9 Net income, less goodwill impairment 31.6$ 46.7$ 60.3$ 46.1$ 104.6$ 98.4 37.5 39.0 40.9 Adjusted Free cash flow conversion 86% 105% 126% 204% 83% 79% 139% 244% 223% For the Year Ended
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H E L I O S T EC H N O L O G IE S . C O M 7 4 5 6 1 6 t h S t r e e t E a s t S a r a s o t a , F L 3 4 2 4 3 +1 - 941 - 3 62 - 1 20 0