Advanced Energy outlined a long-term model targeting 2030 revenue of $3 billion, up from $1.48 billion in 2024.
Non-GAAP gross margin target set at 43.3% in 2030, versus 36.3% in 2024.
Non-GAAP operating margin target of 23.4% in 2030, versus 10.2% in 2024; non-GAAP EPS target of $15, versus $3.71.
Management set a path to expand non-GAAP gross margin to about 43% through manufacturing consolidation, product mix shift, and volume leverage.
Balance sheet capacity highlighted for acquisitions, with $1.4 billion cash, a $600 million undrawn revolver, and $1.65 billion maximum funds available for M&A.
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