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    Xperi Inc. Announces Fourth Quarter and Full Year 2024 Results

    2/26/25 4:05:00 PM ET
    $XPER
    Computer Software: Prepackaged Software
    Technology
    Get the next $XPER alert in real time by email

    Sharp TVs with TiVo OS Have Launched in U.S. Market

    Achieved Video-Over-Broadband (IPTV) footprint of 2.6 million subscriber households and DTS AutoStage footprint of 10 million vehicles

    Doubled Year-over-Year Adjusted EBITDA

    Xperi Inc. (NYSE:XPER) (the "Company" or "Xperi"), an entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, today announced fourth quarter and full-year 2024 financial results for the period ended December 31, 2024.

    "We closed the 2024 fiscal year on a strong operational note, making significant strides in expanding our independent media platform footprint across Smart TV, connected car, and video-over-broadband. This progress validates the value proposition of our independent media platform and further demonstrates how Xperi is enhancing the way people discover, watch, and enjoy their favorite content," said Jon Kirchner, chief executive officer of Xperi. "Our revenue in 2024 was slightly up year over year when adjusting for our divested businesses as we saw growth in IPTV and Connected Car offset by a decline in some of our core legacy solutions due to a challenging market environment. Nonetheless, we are pleased with the results of our ongoing business transformation and its positive impact on profitability."

    Mr. Kirchner continued, "Looking ahead to 2025, we will maintain our focus on growing revenue within our strategic initiatives, including by expanding our Smart TV footprint, accelerating deployment of TiVo video-over-broadband, and growing our DTS AutoStage footprint. As our user base of connected devices expands, the scale and unique audiences we reach is expected to create significant monetization opportunities."

    Financial Highlights

    GAAP Highlights ($ millions, except per share data)

    Q4 FY24

    Q4 FY23

     

    Full Year 2024

    Full Year 2023

    Revenue

    $122.4

    $137.21

     

    $493.7

    $521.31

    GAAP operating loss

    ($14.3)

    ($29.8)

     

    ($87.1)

    ($129.6)

    GAAP net income (loss)2

    $46.2

    ($24.8)

     

    ($14.0)

    ($136.6)

    GAAP diluted earnings (loss) per share2

    $1.02

    ($0.57)

    ($0.31)

    ($3.18)

     

     

     

    Non-GAAP3 Highlights ($ millions, except per share data)

    Q4 FY24

    Q4 FY23

     

    Full Year 2024

    Full Year 2023

    Revenue

    $122.4

    $137.21

     

    $493.7

    $521.31

    Non-GAAP operating income

    $17.5

    $7.1

     

    $49.5

    $11.2

    Non-GAAP net income2

    $17.7

    $5.8

     

    $44.6

    $0.6

    Non-GAAP earnings per share2

    $0.39

    $0.11

     

    $0.97

    $0.01

    Non-GAAP adjusted EBITDA

    $22.7

    $13.4

     

    $74.2

    $34.7

    1

    The contribution from AutoSense and the related imaging business, which was divested on January 31, 2024, accounted for $14.7 million of revenue in Q4 2023 and $28.9 million of revenue in 2023, and the contribution from Perceive, which was divested on October 2, 2024, accounted for $2.1 million of revenue in Q4 2023 and $3.6 million of revenue in 2023.

    2

    Attributable to the Company.

    3

    For further information on supplemental non-GAAP metrics included in this press release, refer to the "Non-GAAP Financial Measures" description and "GAAP to Non-GAAP Reconciliations" provided in the financial statement tables.

    Recent Key Operating Achievements

    Media Platform

    • Achieved TiVo OS milestone of over two million activated Smart TVs.
    • Sharp Smart TVs Powered by TiVo began production in December and are now available in certain U.S. retail.
    • Thomson, a leader in Smart TVs, has been named as the 8th partner to launch Smart TVs Powered by TiVo in major European markets, expected later this spring.
    • Launched TiVo One Ad Platform on video-over-broadband in the U.S., with home page advertising now rolling out across TiVo IPTV and TiVo Broadband footprint.

    Connected Car

    • DTS AutoStage global installed base of vehicles now exceeds 10 million cars, doubling year over year, exceeding our target, and building a foundation for future monetization-based revenue streams.
    • Signed a third license agreement in 2024 for DTS AutoStage video service Powered by TiVo with a Japanese customer.
    • HD Radio is now implemented in more than 110 million vehicles and penetration is approaching 60% of new cars shipped annually throughout North America.

    Pay TV

    • Ended 2024 with 2.6 million video-over-broadband (IPTV) subscriber households, up 37% year over year.
    • Signed 7 new TiVo Broadband customers in the fourth quarter 2024, bringing the cumulative total to 20, and expanding the U.S.-based connected TV monetization footprint for the TiVo One Ad Platform.

    Consumer Electronics

    • Closed several long-term DTS audio renewals with customers including Harman and Yamaha.
    • At CES 2025, DTS Clear Dialogue, a new on-device solution that leverages the latest advancements in AI-based audio processing to improve dialogue intelligibility for TVs, won three technology and innovation awards from industry-leading publications. We expect TV market availability in 2026.

    Capital Allocation

    • Repurchased $10 million of the Company's common stock in the fourth quarter 2024 at an average price of $9.57.

    Financial Outlook

    The Company is providing the following outlook for fiscal year 2025:

    Category

    GAAP Outlook

    Non-GAAP Outlook

    Revenue

    $480M to $500M

    $480M to $500M

    Adjusted EBITDA Margin1,2

    n/a

    16% to 18%

    1

    See discussion of "Non-GAAP Financial Measures" below.

    2

    With respect to Adjusted EBITDA Margin, the Company has determined that it is unable to provide a quantitative reconciliation of this forward-looking non-GAAP measure to the most directly comparable forward-looking GAAP measure with a reasonable degree of confidence in its accuracy without unreasonable effort, as items including restructuring and impacts from discrete tax adjustments and tax law changes are inherently uncertain and depend on various factors, many of which are beyond the Company's control.

    Conference Call Information

    The Company will hold its fourth quarter and full year 2024 earnings conference call at 2:00 PM Pacific Time (5:00 PM Eastern Time) on Wednesday, February 26, 2025. To access the call toll-free, please dial 1-888-596-4144, otherwise dial 1-646-968-2525. The conference ID is 5483252. All participants should dial in 15 minutes prior to the start of the call using the conference ID listed above. Alternatively, the call can be accessed via the following webcast link: Q4 and Full Year 2024 Earnings Call Webcast.

    Safe Harbor Statement

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding: expectations regarding our future results of operations and financial position, margin expansion and overall growth, including, without limitation, expectations regarding revenue growth and Adjusted EBITDA Margin growth, the deployment by third parties of their products that use our technology, objectives for future operations, and ongoing strategies and operating initiatives, including, without limitation, subscriber and device targets, monetization goals, expansion expectations, product launches, market penetration, our media platform and licensing businesses growth, reduction of expenses, and other 2025 year-end objectives. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company's current expectations, assumptions, estimates and projections that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words "expect," "anticipate," "intend," "plan," "believe," "could," "seek," "see," "will," "may," "would," "might," "potentially," "estimate," "continue," "target," "goal," and similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2024, to be filed with the Securities and Exchange Commission (the "SEC") and our other filings with the SEC from time to time. Any forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company does not assume any obligation to, and does not intend to, publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

    About Xperi Inc.

    Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS®, HD Radio™, TiVo®) are integrated into billions of consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences, including IMAX® Enhanced, a certification and licensing program operated by IMAX Corporation and DTS, Inc. Xperi has created a unified ecosystem that reaches highly engaged consumers, driving increased value for partners, customers and consumers.

    ©2025 Xperi Inc. All Rights Reserved. Xperi, TiVo, DTS, HD Radio, DTS Play-Fi, and their respective logos are trademark(s) or registered trademark(s) of Xperi Inc. or its subsidiaries in the United States and other countries. IMAX is a registered trademark of IMAX Corporation. All other trademarks and content are the property of their respective owners.

    Non-GAAP Financial Measures

    In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), the Company's press release contains non-GAAP financial measures, including Non-GAAP Operating Income/(Loss), Non-GAAP Net Income/(Loss) attributable to the Company, Non-GAAP Net Income/(Loss) Per Share attributable to the Company, Non-GAAP Adjusted EBITDA, and Non-GAAP Adjusted EBITDA Margin.

    Non-GAAP Operating Income/(Loss) is defined as GAAP Operating Income/(Loss), less the impact of stock-based compensation, amortization of intangible assets, transaction and integration costs related to actual or planned acquisitions, financing, and divestitures; severance and retention costs; restructuring costs; separation costs; and other items not indicative of our ongoing operating performance.

    Non-GAAP Net Income/(Loss) attributable to the Company is defined as GAAP Net Income/(Loss) attributable to the Company excluding the impact of stock-based compensation, amortization of intangible assets, transaction and integration costs related to actual or planned acquisitions, financing, and divestitures; severance and retention costs; restructuring costs; separation costs; and other items not indicative of our ongoing operating performance, and related tax effects for each adjustment. Non-GAAP Net Income/(Loss) Per Share attributable to the Company is defined as Non-GAAP Income/(Loss) attributable to the Company divided by diluted Non-GAAP weighted average shares outstanding.

    Non-GAAP Adjusted EBITDA is defined as GAAP Net Income/(Loss), less the impact of interest expense, income taxes, stock-based compensation, depreciation expense, amortization of intangible assets, amortization of capitalized cloud computing costs, transaction and integration costs related to actual or planned acquisitions, financing, and divestitures; severance and retention costs; restructuring costs; separation costs; and other items not indicative of our ongoing operating performance. Non-GAAP Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenue.

    Management believes that the non-GAAP measures used in this press release provide investors with important perspectives into the Company's ongoing business and financial performance and provide a better understanding of our core operating results reflecting our normal business operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, the terms used in this press release, such as adjusted EBITDA, do not have a standardized meaning. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures in the tables attached hereto. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. All financial data is presented on a GAAP basis except where the Company indicates its presentation is on a non-GAAP basis.

    Set forth below are reconciliations of the Company's reported GAAP to non-GAAP financial measures.

    XPER-E

    XPERI INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except per share amounts)

    (unaudited)

     

     

     

     

     

     

     

    Three Months Ended December 31,

     

    Year Ended December 31,

     

     

    2024

     

    2023

     

    2024

     

    2023

     

     

     

     

     

     

     

     

     

    Revenue

     

    $

    122,362

     

     

    $

    137,233

     

     

    $

    493,688

     

     

    $

    521,334

     

    Operating expenses:

     

     

     

     

     

     

     

     

    Cost of revenue, excluding depreciation and amortization of intangible assets

     

     

    27,563

     

     

     

    33,567

     

     

     

    113,756

     

     

     

    118,628

     

    Research and development

     

     

    42,163

     

     

     

    55,840

     

     

     

    191,352

     

     

     

    222,833

     

    Selling, general and administrative

     

     

    52,168

     

     

     

    59,510

     

     

     

    218,106

     

     

     

    233,403

     

    Depreciation expense

     

     

    2,858

     

     

     

    4,102

     

     

     

    12,638

     

     

     

    16,645

     

    Amortization expense

     

     

    10,361

     

     

     

    13,403

     

     

     

    43,376

     

     

     

    57,752

     

    Impairment of long-lived assets

     

     

    1,535

     

     

     

    614

     

     

     

    1,535

     

     

     

    1,710

     

    Total operating expenses

     

     

    136,648

     

     

     

    167,036

     

     

     

    580,763

     

     

     

    650,971

     

    Operating loss

     

     

    (14,286

    )

     

     

    (29,803

    )

     

     

    (87,075

    )

     

     

    (129,637

    )

    Interest and other income (expense), net

     

     

    (3,882

    )

     

     

    807

     

     

     

    829

     

     

     

    2,991

     

    Interest expense - debt

     

     

    (756

    )

     

     

    (756

    )

     

     

    (3,008

    )

     

     

    (3,000

    )

    Gain on divestitures

     

     

    77,899

     

     

     

    -

     

     

     

    100,833

     

     

     

    -

     

    Income (loss) before taxes

     

     

    58,975

     

     

     

    (29,752

    )

     

     

    11,579

     

     

     

    (129,646

    )

    (Benefit from) provision for income taxes

     

     

    (3,989

    )

     

     

    (4,439

    )

     

     

    12,448

     

     

     

    10,042

     

    Net income (loss)

     

     

    62,964

     

     

     

    (25,313

    )

     

     

    (869

    )

     

     

    (139,688

    )

    Less: net income (loss) attributable to noncontrolling interest

     

     

    16,748

     

     

     

    (521

    )

     

     

    13,139

     

     

     

    (3,075

    )

    Net income (loss) attributable to the Company

     

    $

    46,216

     

     

    $

    (24,792

    )

     

    $

    (14,008

    )

     

    $

    (136,613

    )

    Net income (loss) per share attributable to the Company:

     

     

     

     

     

     

     

     

    Basic

     

    $

    1.03

     

     

    $

    (0.57

    )

     

    $

    (0.31

    )

     

    $

    (3.18

    )

    Diluted

     

    $

    1.02

     

     

    $

    (0.57

    )

     

    $

    (0.31

    )

     

    $

    (3.18

    )

    Weighted-average number of shares used in per share calculations - basic

     

     

    44,691

     

     

     

    43,717

     

     

     

    45,057

     

     

     

    43,012

     

    Weighted-average number of shares used in per share calculations - diluted

     

     

    45,522

     

     

     

    43,717

     

     

     

    45,057

     

     

     

    43,012

     

    XPERI INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands)

    (unaudited)

     

     

     

    December 31,

     

    December 31,

     

     

    2024

     

    2023

    ASSETS

     

     

     

     

    Current assets:

     

     

     

     

    Cash and cash equivalents

     

    $

    130,564

     

     

    $

    142,085

     

    Accounts receivable, net

     

     

    58,745

     

     

     

    55,984

     

    Unbilled contracts receivable, net

     

     

    83,075

     

     

     

    64,114

     

    Prepaid expenses and other current assets

     

     

    32,488

     

     

     

    38,874

     

    Assets held for sale

     

     

    -

     

     

     

    15,860

     

    Total current assets

     

     

    304,872

     

     

     

    316,917

     

    Note receivable, noncurrent

     

     

    29,702

     

     

     

    -

     

    Deferred consideration from divestiture

     

     

    18,217

     

     

     

    -

     

    Unbilled contracts receivable, noncurrent

     

     

    45,396

     

     

     

    18,231

     

    Property and equipment, net

     

     

    44,473

     

     

     

    41,569

     

    Operating lease right-of-use assets

     

     

    30,082

     

     

     

    39,900

     

    Intangible assets, net

     

     

    163,714

     

     

     

    206,895

     

    Deferred tax assets

     

     

    7,228

     

     

     

    5,093

     

    Other noncurrent assets

     

     

    24,076

     

     

     

    32,781

     

    Assets held for sale, noncurrent

     

     

    -

     

     

     

    12,249

     

    Total assets

     

    $

    667,760

     

     

    $

    673,635

     

    LIABILITIES AND EQUITY

     

     

     

     

    Current liabilities:

     

     

     

     

    Accounts payable

     

    $

    16,979

     

     

    $

    20,849

     

    Accrued liabilities

     

     

    94,420

     

     

     

    109,961

     

    Deferred revenue

     

     

    23,950

     

     

     

    28,111

     

    Short-term debt

     

     

    50,000

     

     

     

    -

     

    Liabilities held for sale

     

     

    -

     

     

     

    6,191

     

    Total current liabilities

     

     

    185,349

     

     

     

    165,112

     

    Long-term debt

     

     

    -

     

     

     

    50,000

     

    Deferred revenue, noncurrent

     

     

    20,932

     

     

     

    19,425

     

    Operating lease liabilities, noncurrent

     

     

    19,932

     

     

     

    30,598

     

    Deferred tax liabilities

     

     

    1,491

     

     

     

    6,983

     

    Other noncurrent liabilities

     

     

    10,979

     

     

     

    4,577

     

    Liabilities held for sale, noncurrent

     

     

    -

     

     

     

    9,805

     

    Total liabilities

     

     

    238,683

     

     

     

    286,500

     

    Equity:

     

     

     

     

    Common stock

     

     

    44

     

     

     

    44

     

    Additional paid-in capital

     

     

    1,274,561

     

     

     

    1,212,501

     

    Accumulated other comprehensive loss

     

     

    (6,084

    )

     

     

    (2,865

    )

    Accumulated deficit

     

     

    (839,444

    )

     

     

    (805,448

    )

    Total Company stockholders' equity

     

     

    429,077

     

     

     

    404,232

     

    Noncontrolling interest

     

     

    -

     

     

     

    (17,097

    )

    Total equity

     

     

    429,077

     

     

     

    387,135

     

    Total liabilities and equity

     

    $

    667,760

     

     

    $

    673,635

     

    XPERI INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (in thousands)

    (unaudited)

     

     

     

     

     

    Year Ended December 31,

     

     

    2024

     

    2023

    Cash flows from operating activities:

     

     

     

     

    Net loss

     

    $

    (869

    )

     

    $

    (139,688

    )

    Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

     

     

     

     

    Gain from divestitures

     

     

    (100,833

    )

     

     

    -

     

    Deferred income taxes

     

     

    (2,933

    )

     

     

    (8,596

    )

    Accrued interest income from note receivable

     

     

    (2,026

    )

     

     

    -

     

    Accretion of discount from deferred consideration from divestitures

     

     

    (1,061

    )

     

     

    -

     

    Stock-based compensation

     

     

    60,541

     

     

     

    69,531

     

    Amortization of intangible assets

     

     

    43,376

     

     

     

    57,752

     

    Depreciation of property and equipment

     

     

    12,638

     

     

     

    16,645

     

    Loss from deconsolidation of Perceive subsidiary

     

     

    4,839

     

     

     

    -

     

    Impairment of long-lived assets

     

     

    1,535

     

     

     

    1,710

     

    Other

     

     

    1,225

     

     

     

    748

     

    Changes in operating assets and liabilities:

     

     

     

     

    Accounts receivable

     

     

    (5,496

    )

     

     

    5,721

     

    Unbilled contracts receivable

     

     

    (46,315

    )

     

     

    (19,386

    )

    Prepaid expenses and other assets

     

     

    11,071

     

     

     

    2,696

     

    Accounts payable

     

     

    (3,041

    )

     

     

    5,071

     

    Accrued and other liabilities

     

     

    (25,325

    )

     

     

    3,688

     

    Deferred revenue

     

     

    (2,666

    )

     

     

    4,170

     

    Net cash (used in) provided by operating activities

     

     

    (55,340

    )

     

     

    62

     

    Cash flows from investing activities:

     

     

     

     

    Net proceeds from divestitures

     

     

    67,773

     

     

     

    -

     

    Capitalized internal-use software

     

     

    (11,715

    )

     

     

    (5,933

    )

    Purchases of property and equipment

     

     

    (5,043

    )

     

     

    (6,815

    )

    Purchases of intangible assets

     

     

    (195

    )

     

     

    (185

    )

    Net cash provided by (used in) investing activities

     

     

    50,820

     

     

     

    (12,933

    )

    Cash flows from financing activities:

     

     

     

     

    Repurchases of common stock

     

     

    (19,990

    )

     

     

    -

     

    Withholding taxes related to net share settlement of equity awards

     

     

    (7,215

    )

     

     

    (4,875

    )

    Proceeds from issuance of common stock under employee stock purchase plan

     

     

    7,855

     

     

     

    11,927

     

    Net cash (used in) provided by financing activities

     

     

    (19,350

    )

     

     

    7,052

     

    Effect of exchange rate changes on cash and cash equivalents

     

     

    -

     

     

     

    126

     

    Net decrease in cash and cash equivalents

     

     

    (23,870

    )

     

     

    (5,693

    )

    Cash and cash equivalents at beginning of period

     

     

    154,434

     

     

     

    160,127

     

    Cash and cash equivalents at end of period(1)

     

    $

    130,564

     

     

    $

    154,434

     

    (1) Including $12,349 classified as held for sale at December 31, 2023.

     

     

     

     

    XPERI INC.

    GAAP TO NON-GAAP RECONCILIATIONS

    (in thousands, except per share amounts)

    (unaudited)

     

     

     

    Three Months Ended December 31,

     

    Year Ended December 31,

     

     

    2024

     

    2023

     

    2024

     

    2023

     

     

     

     

     

     

     

     

    GAAP net income (loss) attributable to the Company

     

    $

    46,216

     

     

    $

    (24,792

    )

     

    $

    (14,008

    )

    $

    (136,613

    )

     

     

     

     

     

     

     

     

    Adjustments to GAAP income (loss) attributable to the Company:

     

     

     

     

     

     

     

    Stock-based compensation(1)

     

     

    15,232

     

     

     

    17,850

     

     

     

    60,541

     

     

    69,531

     

    Amortization of intangible assets

     

     

    10,361

     

     

     

    13,403

     

     

     

    43,376

     

     

    57,752

     

    Impairment of long-lived assets

     

     

    1,535

     

     

     

    614

     

     

     

    1,535

     

     

    1,710

     

    Gain on Perceive divestiture attributable to the Company

     

     

    (59,485

    )

     

     

    -

     

     

     

    (59,485

    )

     

    -

     

    Loss from deconsolidation of Perceive subsidiary

     

     

    4,839

     

     

     

    -

     

     

     

    4,839

     

     

    -

     

    Gain on AutoSense divestiture

     

     

    -

     

     

     

    -

     

     

     

    (22,934

    )

     

    -

     

    Transaction, separation, integration and restructuring related costs:

     

     

     

     

     

     

     

    Transaction, separation, integration and restructuring costs(2)

     

     

    3,731

     

     

     

    4,145

     

     

     

    18,858

     

     

    7,954

     

    Severance and retention(3)

     

     

    1,073

     

     

     

    925

     

     

     

    13,468

     

     

    3,866

     

    Non-GAAP tax adjustment(4)

     

     

    (5,820

    )

     

     

    (6,366

    )

     

     

    (1,608

    )

     

    (3,646

    )

    Non-GAAP net income attributable to the Company

     

    $

    17,682

     

     

    $

    5,779

     

     

    $

    44,582

     

    $

    554

     

     

     

     

     

     

     

     

     

    (1) Stock-based compensation included in above line items:

     

     

     

     

     

     

     

    Cost of revenue, excluding depreciation and amortization of intangible assets

     

    $

    792

     

     

    $

    941

     

     

    $

    3,216

     

    $

    3,466

     

    Research and development

     

    $

    5,245

     

     

    $

    6,736

     

     

    $

    20,634

     

    $

    25,276

     

    Selling, general and administrative

     

    $

    9,195

     

     

    $

    10,173

     

     

    $

    36,691

     

    $

    40,789

     

    (2) Transaction, separation, integration and restructuring related costs included in above line items:

     

     

     

     

     

     

     

    Cost of revenue, excluding depreciation and amortization of intangible assets

     

    $

    -

     

     

    $

    214

     

     

    $

    -

     

    $

    214

     

    Research and development

     

    $

    1,438

     

     

    $

    786

     

     

    $

    5,759

     

    $

    786

     

    Selling, general and administrative

     

    $

    2,125

     

     

    $

    3,145

     

     

    $

    11,856

     

    $

    6,954

     

    Interest and other income (expense), net

     

    $

    168

     

     

    $

    -

     

     

    $

    1,243

     

    $

    -

     

    (3) Severance and retention included in above line items:

     

     

     

     

     

     

     

    Cost of revenue, excluding depreciation and amortization of intangible assets

     

    $

    38

     

     

    $

    209

     

     

    $

    1,108

     

    $

    263

     

    Research and development

     

    $

    666

     

     

    $

    138

     

     

    $

    9,344

     

    $

    1,554

     

    Selling, general and administrative

     

    $

    369

     

     

    $

    578

     

     

    $

    3,016

     

    $

    2,049

     

    (4) The provision for (benefit from) income taxes is adjusted to reflect the net direct and indirect income tax effects of various non-GAAP pretax adjustments.

     

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended December 31,

     

    Year Ended December 31,

     

     

    2024

     

    2023

     

    2024

     

    2023

     

     

     

     

     

     

     

     

    GAAP net income (loss) per share attributable to the Company

     

    $

    1.02

     

     

    $

    (0.57

    )

     

    $

    (0.31

    )

    $

    (3.18

    )

     

     

     

     

     

     

     

     

    Adjustments to GAAP income (loss) per share attributable to the Company:

     

     

     

     

     

     

     

    Stock-based compensation

     

     

    0.33

     

     

     

    0.41

     

     

     

    1.34

     

     

    1.62

     

    Amortization of intangible assets

     

     

    0.23

     

     

     

    0.31

     

     

     

    0.96

     

     

    1.34

     

    Impairment of long-lived assets

     

     

    0.03

     

     

     

    0.01

     

     

     

    0.03

     

     

    0.04

     

    Gain on Perceive divestiture attributable to the Company

     

     

    (1.31

    )

     

     

    -

     

     

     

    (1.32

    )

     

    -

     

    Loss from deconsolidation of Perceive subsidiary

     

     

    0.11

     

     

     

    -

     

     

     

    0.11

     

     

    -

     

    Gain on AutoSense divestiture

     

     

    -

     

     

     

    -

     

     

     

    (0.51

    )

     

    -

     

    Transaction, separation, integration and restructuring related costs

     

     

    0.11

     

     

     

    0.12

     

     

     

    0.72

     

     

    0.27

     

    Non-GAAP tax adjustment

     

     

    (0.13

    )

     

     

    (0.15

    )

     

     

    (0.04

    )

     

    (0.08

    )

    Difference in shares used in calculation

     

     

    -

     

     

     

    (0.02

    )

     

     

    (0.01

    )

     

    -

     

    Non-GAAP net income per share attributable to the Company

     

    $

    0.39

     

     

    $

    0.11

     

     

    $

    0.97

     

    $

    0.01

     

     

     

     

     

     

     

     

     

    GAAP weighted average number of shares - diluted

     

     

    45,522

     

     

     

    43,717

     

     

     

    45,057

     

     

    43,012

     

    Non-GAAP weighted average number of shares - diluted

     

     

    45,522

     

     

     

    50,863

     

     

     

    45,949

     

     

    49,633

     

     

    XPERI INC.

    GAAP TO NON-GAAP RECONCILIATIONS

    (in thousands)

    (unaudited)

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended December 31,

     

    Year Ended December 31,

     

     

    2024

     

    2023

     

    2024

     

    2023

    GAAP operating loss

     

    $

    (14,286

    )

     

    $

    (29,803

    )

     

    $

    (87,075

    )

     

    $

    (129,637

    )

    Adjustments to GAAP operating loss:

     

     

     

     

     

     

     

     

    Stock-based compensation

     

     

    15,232

     

     

     

    17,850

     

     

     

    60,541

     

     

     

    69,531

     

    Amortization of intangible assets

     

     

    10,361

     

     

     

    13,403

     

     

     

    43,376

     

     

     

    57,752

     

    Impairment of long-lived assets

     

     

    1,535

     

     

     

    614

     

     

     

    1,535

     

     

     

    1,710

     

    Transaction, separation, integration and restructuring related costs:

     

     

     

     

     

     

     

     

    Transaction, separation, integration and restructuring costs

     

     

    3,563

     

     

     

    4,145

     

     

     

    17,615

     

     

     

    7,954

     

    Severance and retention

     

     

    1,073

     

     

     

    925

     

     

     

    13,468

     

     

     

    3,866

     

    Non-GAAP operating income

     

    $

    17,478

     

     

    $

    7,134

     

     

    $

    49,460

     

     

    $

    11,176

     

    XPERI INC.

    GAAP TO NON-GAAP RECONCILIATIONS

    (in thousands)

    (unaudited)

     

     

     

    Three Months Ended December 31,

     

    Year Ended December 31,

     

     

    2024

     

    2023

     

    2024

     

    2023

    GAAP net income (loss)

     

    $

    62,964

     

     

    $

    (25,313

    )

     

    $

    (869

    )

     

    $

    (139,688

    )

    Adjustments to GAAP net income (loss):

     

     

     

     

     

     

     

     

    Interest expense

     

     

    922

     

     

     

    767

     

     

     

    3,822

     

     

     

    3,104

     

    (Benefit from) provision for income taxes

     

     

    (3,989

    )

     

     

    (4,439

    )

     

     

    12,448

     

     

     

    10,042

     

    Stock-based compensation

     

     

    15,232

     

     

     

    17,850

     

     

     

    60,541

     

     

     

    69,531

     

    Depreciation expense

     

     

    2,858

     

     

     

    4,102

     

     

     

    12,638

     

     

     

    16,645

     

    Amortization of intangible assets

     

     

    10,361

     

     

     

    13,403

     

     

     

    43,376

     

     

     

    57,752

     

    Amortization of capitalized cloud computing costs

     

     

    1,084

     

     

     

    1,339

     

     

     

    4,353

     

     

     

    3,756

     

    Gain on divestitures

     

     

    (77,899

    )

     

     

    —

     

     

     

    (100,833

    )

     

     

    —

     

    Loss from deconsolidation of Perceive subsidiary

     

     

    4,839

     

     

     

    —

     

     

     

    4,839

     

     

     

    —

     

    Impairment of long-lived assets

     

     

    1,535

     

     

     

    614

     

     

     

    1,535

     

     

     

    1,710

     

    Transaction, separation, integration and restructuring related costs:

     

     

     

     

     

     

     

     

    Transaction, separation, integration and restructuring costs

     

     

    3,731

     

     

     

    4,145

     

     

     

    18,858

     

     

     

    7,954

     

    Severance and retention

     

     

    1,073

     

     

     

    925

     

     

     

    13,468

     

     

     

    3,866

     

    Non-GAAP adjusted EBITDA

     

    $

    22,711

     

     

    $

    13,393

     

     

    $

    74,176

     

     

    $

    34,672

     

    Non-GAAP Adjusted EBITDA Margin(1)

     

     

    18.6

    %

     

     

    9.8

    %

     

     

    15.0

    %

     

     

    6.7

    %

    (1)Non-GAAP Adjusted EBITDA Margin is calculated by dividing Non-GAAP Adjusted EBITDA, derived as above, by the Company's total revenue, expressed as a percentage.

     

     

     

     

     

     

     

     

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250226330402/en/

    Xperi Investor Contact:

    Robert Andersen

    Chief Financial Officer

    +1 408-321-6779

    [email protected]

    Media Contact:

    Allyse Sanchez

    Senior Director, External Communications

    +1 925-548-2535

    [email protected]

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      NEW YORK, June 7, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S

      6/7/24 6:09:00 PM ET
      $ADTN
      $ALTR
      $ATNI
      $BMRN
      Telecommunications Equipment
      Utilities
      Computer Software: Prepackaged Software
      Technology
    • Xperi Mails Definitive Proxy Statement and Issues Letter to Stockholders Highlighting the Company's Transformation, Strategy and Business Progress

      Board Comments on Rubric Capital's Puzzling Campaign to Replace Two Directors Who Have Been Instrumental in Driving Xperi's Transformation Urges Stockholders to Vote on the BLUE Proxy Card FOR All Five of Xperi's Directors Xperi Inc. (NYSE:XPER) (the "Company" or "Xperi"), an entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, today mailed definitive proxy materials to Xperi stockholders in connection with Xperi's 2024 annual meeting of stockholders, which is scheduled to be held on May 24, 2024 (the "Annual Meeting"). Stockholders as of the close of business on March 28, 2024 will be entitled to vote at this meeting.

      4/17/24 8:30:00 AM ET
      $XPER
      Computer Software: Prepackaged Software
      Technology

    $XPER
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

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    • CEO & President Kirchner Jon bought $43,242 worth of shares (5,000 units at $8.65), increasing direct ownership by 0.96% to 523,692 units (SEC Form 4)

      4 - Xperi Inc. (0001788999) (Issuer)

      9/12/24 8:07:53 PM ET
      $XPER
      Computer Software: Prepackaged Software
      Technology
    • Chief Financial Officer Andersen Robert J bought $14,875 worth of shares (1,700 units at $8.75), increasing direct ownership by 0.67% to 254,098 units (SEC Form 4)

      4 - Xperi Inc. (0001788999) (Issuer)

      9/3/24 7:11:28 PM ET
      $XPER
      Computer Software: Prepackaged Software
      Technology
    • CLO and Secretary Marquez Rebecca bought $9,913 worth of shares (1,150 units at $8.62), increasing direct ownership by 0.74% to 156,131 units (SEC Form 4)

      4 - Xperi Inc. (0001788999) (Issuer)

      8/27/24 4:38:01 PM ET
      $XPER
      Computer Software: Prepackaged Software
      Technology

    $XPER
    SEC Filings

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    • SEC Form 10-Q filed by Xperi Inc.

      10-Q - Xperi Inc. (0001788999) (Filer)

      5/8/25 4:20:23 PM ET
      $XPER
      Computer Software: Prepackaged Software
      Technology
    • Xperi Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - Xperi Inc. (0001788999) (Filer)

      5/7/25 4:10:10 PM ET
      $XPER
      Computer Software: Prepackaged Software
      Technology
    • Xperi Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - Xperi Inc. (0001788999) (Filer)

      4/28/25 4:10:07 PM ET
      $XPER
      Computer Software: Prepackaged Software
      Technology