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      "text": "Revenue\nMaintained 4-5% organic revenue growth 1,3 expected for FY22; strengthening dollar impacting estimate for reported results\nFY22 FX headwinds expected to increase to $210M from $160M",
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      "text": "Adj. EBITDA\nUpdating adjusted EBITDA¹ due to $10M FX headwind and $15M slower than expected SiHy manufacturing yield / output ramp",
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      "text": "Adj. Gross Margin\nAdj. gross margin for 2022 is expected to be ~60%1,3",
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      "text": "1. This is a non-GAAP measure or ratio. See Slide 2 and Appendix for further information on non-GAAP measures or ratios. See slides 10 and 11 for disclosure of historic non-GAAP measures and ratios and their historic comparable GAAP measures and ratios.\n2. Interest expense includes ~$100M for the $2.5bn Term loan issued on May 10th 2022 and amortization and write-down of deferred financing costs. It also includes ~$50M of interest related to B+L's affiliate debt with BHC for $2.2bn which was paid off as part of the IPO transaction.\n3. The guidance in this presentation is only effective as of the date given, Nov. 2, 2022, and will not be updated or affirmed unless and until the Company publicly announces updated or affirmed guidance. Distribution or reference of this deck following Nov. 2, 2022 does not constitute the Company re-affirming guidance. See Slide 1 for further information on forward-looking statements.",
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      "text": "Prior Guidance (June 2022), Prior Guidance (August 2022), Current Guidance (November 2022), Total Revenues, $3.75B - $3.80B, $3.75B - $3.80B, $3.70B - $3.75B, Adjusted EBITDA (non-GAAP)1, $740M - $780M, $740M - $780M, $715M - $755M, Key Assumptions, Interest Expense2, ~$150M, ~$150M, ~$150M, R&D, ~7% of revenue, ~8% of revenue, ~8% of revenue, Adj. Tax Rate (non-GAAP)1, ~12%, ~6%-8%, ~6%, Avg. Fully Diluted Share Count, ~350M, ~350M, ~350M, CapEx, ~$225M, ~$225M, ~$200M, Depreciation and Stock Based Comp, ~$215M, ~$200M, ~$200M",
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      "text": "Full-Year 2022 Revenue and Adjusted EBITDA (non-GAAP)¹ Guidance³",
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