Company Participants Peter Wright - Intro-Act Mark Miller - The Benchmark Company Hendi Susanto - Gabelli Funds I'd like to remind everyone that today's conference call contains certain forward-looking statements including but not limited to statements regarding financial results for the Company's most recently completed fiscal quarter, which remains subject to adjustment in connection with the preparation of our Form 10-Q, as well as comments about future events and projections about the future financial p ...

Exhibit 99.1 3560 Bassett Street, Santa Clara CA 95054 Kevin Soulsby Claire McAdams Chief Financial Officer Investor Relations (408) 986-9888 (530) 265-9899 Intevac Announces First Quarter 2024 Financial Results Santa Clara, Calif.—April 25, 2024—Intevac, Inc. (Nasdaq: IVAC) today reported financial results for the first quarter ended March 30, 2024. The Company ended the quarter with $65.5 million of total cash, cash equivalents, restricted cash and investments and $114.0 million in tangible book value. Q1 ...

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Financial Performance - Net revenues for the year ended December 30, 2023, were $52.665 million, an increase of 47.3% compared to $35.761 million for the year ended December 31, 2022[212]. - Gross profit for the year ended December 30, 2023, was $20.226 million, representing a gross margin of 38.4%, up from $15.086 million in the previous year[212]. - Operating loss decreased to $13.244 million for the year ended December 30, 2023, compared to an operating loss of $16.512 million for the year ended December 31, 2022, reflecting improved operational efficiency[212]. - The company reported a net loss of $12.190 million for the year ended December 30, 2023, a reduction from a net loss of $17.075 million in the prior year[212]. - Net loss for the year ended December 30, 2023, was $12,190,000, compared to a net loss of $17,075,000 for the year ended December 31, 2022, representing a 28.0% improvement[222]. - Basic net loss per share for continuing operations was $(0.48) in 2023, compared to $(0.67) in 2022, indicating a reduction in losses[304]. Cash and Investments - Cash and cash equivalents decreased to $51.441 million as of December 30, 2023, down from $68.904 million as of December 31, 2022[209]. - Total cash, cash equivalents, and restricted cash at the end of the period was $52,141,000, down from $69,690,000 at the beginning of the period, indicating a decrease of 25.3%[222]. - The company had cash used in investing activities of $(28,418,000) for the year ended December 31, 2022, while it generated $18,281,000 in cash from investing activities for the year ended December 30, 2023, showing a positive turnaround[222]. - Total cash and cash equivalents as of December 30, 2023, amounted to $51,445,000, a decrease from $68,910,000 as of December 31, 2022, representing a decline of approximately 25.5%[321]. - Total short-term investments decreased to $17,460,000 as of December 30, 2023, from $25,772,000 as of December 31, 2022, reflecting a decline of about 32.4%[321]. - Total long-term investments were $2,690,000 as of December 30, 2023, down from $17,832,000 as of December 31, 2022, indicating a significant decrease of approximately 85%[321]. - The total cash, cash equivalents, and investments decreased to $71,595,000 as of December 30, 2023, from $112,514,000 as of December 31, 2022, a decline of about 36.4%[321]. Inventory and Liabilities - Inventories increased significantly to $43.795 million as of December 30, 2023, compared to $30.003 million as of December 31, 2022, indicating potential challenges in inventory management[209]. - Total current liabilities rose to $32.510 million as of December 30, 2023, compared to $25.975 million as of December 31, 2022, reflecting increased operational commitments[209]. - Inventories decreased by $13,792,000 in the year ended December 30, 2023, compared to a decrease of $24,105,000 in the previous year, indicating a reduction in inventory management challenges[222]. Research and Development - Research and development expenses for the year ended December 30, 2023, were $15.125 million, up from $13.722 million in the previous year, highlighting a focus on innovation[212]. Equity and Stock - The company’s additional paid-in capital increased to $210.320 million as of December 30, 2023, from $206.355 million as of December 31, 2022, indicating ongoing investment support[209]. - The weighted average shares outstanding increased to 26,121 thousand for the year ended December 30, 2023, compared to 25,192 thousand in the previous year, reflecting potential dilution effects[212]. - Proceeds from the issuance of common stock amounted to $1,365,000 in the year ended December 30, 2023, compared to $3,083,000 in the previous year, reflecting a decrease of 55.7%[222]. Taxation - The effective tax rate is influenced by projected earnings and geographic composition, with potential material effects on business outcomes if actual results differ from estimates[251]. - The company reported an effective tax rate of (16.9%) for fiscal 2023, compared to (8.6%) for fiscal 2022[334]. - The provision for income taxes on continuing operations for fiscal 2023 was $1,822,000, an increase from $1,327,000 in fiscal 2022, representing a rise of approximately 37.4%[334]. Legal and Compliance - The company incurred legal expenses of approximately $1.0 million related to a settlement in the Quiusky v. Intevac lawsuit, which was resolved in January 2023[369]. - The company’s management concluded that its disclosure controls and procedures were effective as of December 30, 2023[383]. - Intevac's management concluded that its internal control over financial reporting was effective as of December 30, 2023[386]. Acquisitions and Contingent Considerations - The acquisition of Hia, Inc. was completed on August 26, 2022, for a total purchase price of $763,000, including $700,000 in cash and $63,000 in transaction costs[377]. - The first milestone of the Hia acquisition was achieved, resulting in a contingent consideration payment of $250,000, which was accrued in the fourth quarter of 2022[378]. - The technology intangible assets from the Hia acquisition had a gross carrying amount of $1,132,000 as of December 30, 2023, with accumulated amortization of $178,000[382]. Cost Reduction Initiatives - The company implemented a 2023 Cost Reduction Plan, resulting in a 23% reduction in workforce and incurring restructuring costs of $2.0 million, expected to save approximately $4.6 million annually[370]. - The 2022 Cost Reduction Plan reduced the workforce by 6% and resulted in annual savings of approximately $2.1 million[371].

Intevac, Inc. (NASDAQ:IVAC) Q4 2023 Earnings Call Transcript February 5, 2024 4:30 PM ET Company Participants Claire McAdams - IR Nigel Hunton - President and CEO Kevin Soulsby - CFO Conference Call Participants Mark Miller - The Benchmark Company Hendi Susanto - Gabelli Funds Peter Wright - Partner Cap Securities Dan Weston - West Capital Management Operator Financial Results Conference Call. At this time, all participants are in a list-only mode. A question-and-answer session will follow the formal presen ...

Investor Presentation During the course of this presentation, we will comment upon future events and may make projections about our future financial performance, including statements related to strategies, our expected sales, product shipments and acceptance, gross margin, operating expense, profit, cash flow, income tax expense, and capital allocation. We will discuss our business strategy, our products, the markets our products address, our position in those markets, expected market acceptance of those pr ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-26946 3560 Bassett Street Santa Clara, California 95054 (Address of principal executive office, including Zip ...

Intevac, Inc. (NASDAQ:IVAC) Q3 2023 Earnings Conference Call November 1, 2023 4:30 PM ET Company Participants Claire McAdams - Investor Relations Nigel Hunton - President & Chief Executive Officer Kevin Soulsby - Chief Financial Officer Conference Call Participants Peter Wright - Intro Act Hendi Susanto - Gabelli Funds. Operator Good day and welcome to Intevac's Third Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session ...

INTEVAC, Strictly Confidential. Not for Distribution. Forward Looking Statements During the course of this presentation, we will comment upon future events and may make projections about our future financial performance, including statements related to strategies, our expected sales, product shipments and acceptance, gross margin, operating expense, profit, cash flow, income tax expense, and capital allocation. We will discuss our business strategy, our products, the markets our products address, our positi ...

Intevac, Inc. (NASDAQ:IVAC) Q2 2023 Earnings Conference Call August 2, 2023 4:30 PM ET Nigel Hunton - President and CEO Jim Moniz - CFO Peter Wright - PartnerCap Securities Mark Miller - Benchmark Good afternoon, everyone. Thank you for joining us today to discuss Intevac's financial results for the second quarter of 2023, which ended on July 1. In addition to discussing the company's recent results, we will discuss our outlook looking forward. These forward-looking statements are based upon our current exp ...