Flex Ltd. (NASDAQ: FLEX)

Flex Ltd. operates as an advanced, end-to-end manufacturing partner, providing technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The company assists customers in designing, building, delivering, and managing innovative products that aim to improve the world. Flex Ltd. operates through a global workforce across approximately 30 countries, offering a full suite of specialized capabilities including design and engineering, supply chain, manufacturing, post-production and post-sale services, and proprietary products. The company serves various industries such as data center, communications, enterprise, consumer, automotive, industrial, healthcare, and power.

Flex Ltd. generates revenue through its comprehensive suite of services and products. The company's primary offerings include design and engineering services, supply chain services, manufacturing services, post-production services, post-sale services, and a portfolio of power and cooling products. Key products and services include system architecture, user interface and industrial design, cross-industry technologies, hardware design, software integration, design for excellence, and specialized capabilities across the product lifecycle. Flex Ltd. caters to a diverse customer base, including many of the world's leading data center, consumer products, healthcare, automotive, and industrial companies. The company focuses on establishing long-term relationships with its customers, expanding relationships to incorporate additional product lines and services.

• Flex Agility Solutions (FAS): This segment is optimized for speed to market and comprises three end markets. The Communications, Enterprise and Cloud (CEC) market includes data center, edge, and communications infrastructure. The Lifestyle market encompasses appliances, floorcare, smart living, Heating, Ventilation and Air-Conditioning (HVAC), and power tools. The Consumer Devices market covers mobile and high-velocity consumer devices.

• Flex Reliability Solutions (FRS): This segment is optimized for longer product lifecycles and includes three end markets. The Industrial market involves industrial devices, capital equipment, renewables, critical power, and embedded power. The Automotive market includes compute platforms, power electronics, motion, and interface. The Health Solutions market encompasses medical devices, medical equipment, and drug delivery.

Flex Ltd. holds a strong position within the contract manufacturing services industry. The company competes against numerous domestic and foreign manufacturing service providers, as well as current and prospective customers. Key competitive factors in the industry include quality and range of services, design and technological capabilities, cost, location of sites, supply chain resiliency, sustainability, and responsiveness and flexibility. Flex Ltd. believes it is extremely competitive with regard to all of these factors. The company's principal competitive advantages include its global scale and regional capabilities, long-standing and diverse customer relationships, cross-industry synergies, and cost-efficient manufacturing services through its industrial parks.

Flex Ltd. serves a wide range of customers across various industries. The company's ten largest customers accounted for approximately 44% of net sales as of March 31, 2025, with no single customer accounting for more than 10% of the company's net sales. Flex Ltd. is focused on establishing long-term relationships with its customers and has been successful in expanding relationships to incorporate additional product lines and services. The company's customer base includes leading data center, consumer products, healthcare, automotive, and industrial companies.