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SAN JOSE, Calif.--(BUSINESS WIRE)--Nov 6, 2024--
Xperi Inc. (NYSE: XPER) (the “Company” or “Xperi”), an entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, today announced third quarter 2024 financial results for the three-month period ended September 30, 2024.
“With the Perceive transaction now closed, we are fully focused on entertainment-based solutions to grow our independent media platform and licensing businesses. Our TiVo OS Smart TV footprint is approaching one million units, and with accelerating partner activity we believe we remain on-track toward our year-end target of two million active connected devices,” said Jon Kirchner, chief executive officer of Xperi.
Mr. Kirchner continued, “Our innovation pipeline continues to yield exciting new product solutions, including those benefiting from our prior work in the AI space. As an example, we recently launched our award-winning, AI-driven DTS Clear Dialogue solution, which addresses a real-world problem for TV audiences – dialogue intelligibility. Lastly, and very importantly, our business transformation efforts have helped us drive operating leverage and deliver meaningful improvements in our profitability metrics, in line with the three-to-five-year targets that we announced in September of 2022.”
Financial Highlights
GAAP Highlights ($ millions, except per share data) | Q3 FY24 | Q3 FY23 | ||
Revenue | $132.9 | $130.4 1 | ||
GAAP operating loss | ($18.6) | ($31.1) | ||
GAAP net loss 2 | ($16.8) | ($41.4) | ||
GAAP loss per share 2 | ($0.37) | ($0.96) | ||
Non-GAAP 3 Highlights ($ millions, except per share data) | Q3 FY24 | Q3 FY23 | ||
Revenue | $132.9 | $130.4 1 | ||
Non-GAAP operating income | $24.5 | $4.3 | ||
Non-GAAP net income/(loss) 2 | $23.3 | ($3.3) | ||
Non-GAAP earnings/(loss) per share 2 | $0.51 | ($0.08) | ||
Non-GAAP adjusted EBITDA | $31.4 | $9.3 |
1 | The contribution from AutoSense and the related imaging business, which was divested on January 31, 2024, accounted for $5.3 million of revenue in Q3 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
Connected Car
Pay TV
Consumer Electronics
Perceive
Capital Allocation
Financial Outlook
The Company makes the following updates to the 2024 outlook ranges previously provided:
Category | Original Outlook | Revised Outlook |
Revenue | $500M to $530M | $490M to $505M |
Adjusted EBITDA Margin 1,2 | 12% to 14% | 14% to 16% |
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 third quarter 2024 earnings conference call at 2:00 PM Pacific Time (5:00 PM Eastern Time) on Wednesday, November 6, 2024. 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: Q3 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 acceleration of revenue in our key growth markets and non-GAAP 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, expansion expectations, our media platform and licensing businesses growth, reduction of expenses, and net proceeds from the Perceive asset sale. 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, 2023, 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.
©2024 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.
SOURCE: XPERI INC.
XPER-E
XPERI INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) | ||||||||||||||||
|
| Three Months Ended September 30, |
| Nine Months Ended September 30, | ||||||||||||
|
| 2024 |
| 2023 |
| 2024 |
| 2023 | ||||||||
Revenue |
| $ | 132,891 |
|
| $ | 130,390 |
|
| $ | 371,326 |
|
| $ | 384,101 |
|
Operating expenses: |
|
|
|
|
|
|
|
| ||||||||
Cost of revenue, excluding depreciation and amortization of intangible assets |
|
| 27,484 |
|
|
| 26,413 |
|
|
| 86,193 |
|
|
| 85,061 |
|
Research and development |
|
| 53,627 |
|
|
| 56,436 |
|
|
| 149,189 |
|
|
| 166,993 |
|
Selling, general and administrative |
|
| 56,483 |
|
|
| 59,620 |
|
|
| 165,938 |
|
|
| 173,893 |
|
Depreciation expense |
|
| 2,918 |
|
|
| 4,248 |
|
|
| 9,780 |
|
|
| 12,543 |
|
Amortization expense |
|
| 10,934 |
|
|
| 14,724 |
|
|
| 33,015 |
|
|
| 44,349 |
|
Impairment of long-lived assets |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 1,096 |
|
Total operating expenses |
|
| 151,446 |
|
|
| 161,441 |
|
|
| 444,115 |
|
|
| 483,935 |
|
Operating loss |
|
| (18,555 | ) |
|
| (31,051 | ) |
|
| (72,789 | ) |
|
| (99,834 | ) |
Interest and other income (expense), net |
|
| 2,379 |
|
|
| (580 | ) |
|
| 4,711 |
|
|
| 2,186 |
|
Interest expense - debt |
|
| (756 | ) |
|
| (756 | ) |
|
| (2,252 | ) |
|
| (2,246 | ) |
Gain on divestiture |
|
| — |
|
|
| — |
|
|
| 22,934 |
|
|
| — |
|
Loss before taxes |
|
| (16,932 | ) |
|
| (32,387 | ) |
|
| (47,396 | ) |
|
| (99,894 | ) |
Provision for income taxes |
|
| 2,899 |
|
|
| 9,685 |
|
|
| 16,437 |
|
|
| 14,481 |
|
Net loss |
|
| (19,831 | ) |
|
| (42,072 | ) |
|
| (63,833 | ) |
|
| (114,375 | ) |
Less: net loss attributable to noncontrolling interest |
|
| (3,026 | ) |
|
| (646 | ) |
|
| (3,609 | ) |
|
| (2,554 | ) |
Net loss attributable to the Company |
| $ | (16,805 | ) |
| $ | (41,426 | ) |
| $ | (60,224 | ) |
| $ | (111,821 | ) |
Net loss per share attributable to the Company - basic and diluted |
| $ | (0.37 | ) |
| $ | (0.96 | ) |
| $ | (1.33 | ) |
| $ | (2.61 | ) |
Weighted-average number of shares used in net loss per share calculations - basic and diluted |
|
| 45,683 |
|
|
| 43,316 |
|
|
| 45,180 |
|
|
| 42,774 |
|
XPERI INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) | ||||||||
|
| September 30, 2024 |
| December 31, 2023 | ||||
ASSETS |
|
|
|
| ||||
Current assets: |
|
|
|
| ||||
Cash and cash equivalents |
| $ | 72,686 |
|
| $ | 142,085 |
|
Accounts receivable, net |
|
| 62,368 |
|
|
| 55,984 |
|
Unbilled contracts receivable, net |
|
| 84,797 |
|
|
| 64,114 |
|
Prepaid expenses and other current assets |
|
| 37,686 |
|
|
| 38,874 |
|
Assets held for sale |
|
| 1,306 |
|
|
| 15,860 |
|
Total current assets |
|
| 258,843 |
|
|
| 316,917 |
|
Note receivable, noncurrent |
|
| 29,131 |
|
|
| — |
|
Deferred consideration from divestiture |
|
| 6,530 |
|
|
| — |
|
Unbilled contracts receivable, noncurrent |
|
| 40,877 |
|
|
| 18,231 |
|
Property and equipment, net |
|
| 43,505 |
|
|
| 41,569 |
|
Operating lease right-of-use assets |
|
| 31,070 |
|
|
| 39,900 |
|
Intangible assets, net |
|
| 174,037 |
|
|
| 206,895 |
|
Deferred tax assets |
|
| 5,060 |
|
|
| 5,093 |
|
Other noncurrent assets |
|
| 26,944 |
|
|
| 32,781 |
|
Assets held for sale, noncurrent |
|
| 171 |
|
|
| 12,249 |
|
Total assets |
| $ | 616,168 |
|
| $ | 673,635 |
|
LIABILITIES AND EQUITY |
|
|
|
| ||||
Current liabilities: |
|
|
|
| ||||
Accounts payable |
| $ | 19,308 |
|
| $ | 20,849 |
|
Accrued liabilities |
|
| 105,560 |
|
|
| 109,961 |
|
Deferred revenue |
|
| 26,378 |
|
|
| 28,111 |
|
Short-term debt |
|
| 50,000 |
|
|
| — |
|
Liabilities held for sale |
|
| 67 |
|
|
| 6,191 |
|
Total current liabilities |
|
| 201,313 |
|
|
| 165,112 |
|
Long-term debt |
|
| — |
|
|
| 50,000 |
|
Deferred revenue, noncurrent |
|
| 20,371 |
|
|
| 19,425 |
|
Operating lease liabilities, noncurrent |
|
| 20,496 |
|
|
| 30,598 |
|
Deferred tax liabilities |
|
| 7,016 |
|
|
| 6,983 |
|
Other noncurrent liabilities |
|
| 11,143 |
|
|
| 4,577 |
|
Liabilities held for sale, noncurrent |
|
| 6 |
|
|
| 9,805 |
|
Total liabilities |
|
| 260,345 |
|
|
| 286,500 |
|
Equity: |
|
|
|
| ||||
Common stock |
|
| 45 |
|
|
| 44 |
|
Additional paid-in capital |
|
| 1,256,372 |
|
|
| 1,212,501 |
|
Accumulated other comprehensive loss |
|
| (3,337 | ) |
|
| (2,865 | ) |
Accumulated deficit |
|
| (875,670 | ) |
|
| (805,448 | ) |
Total Company stockholders’ equity |
|
| 377,410 |
|
|
| 404,232 |
|
Noncontrolling interest |
|
| (21,587 | ) |
|
| (17,097 | ) |
Total equity |
|
| 355,823 |
|
|
| 387,135 |
|
Total liabilities and equity |
| $ | 616,168 |
|
| $ | 673,635 |
|
XPERI INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) | ||||||||
|
| Nine Months Ended September 30, | ||||||
|
| 2024 |
| 2023 | ||||
Cash flows from operating activities: |
|
|
|
| ||||
Net loss |
| $ | (63,833 | ) |
| $ | (114,375 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| ||||
Gain from divestiture |
|
| (22,934 | ) |
|
| — |
|
Depreciation of property and equipment |
|
| 9,780 |
|
|
| 12,543 |
|
Amortization of intangible assets |
|
| 33,015 |
|
|
| 44,349 |
|
Stock-based compensation expense |
|
| 45,309 |
|
|
| 51,681 |
|
Impairment of long-lived assets |
|
| — |
|
|
| 1,096 |
|
Deferred income taxes |
|
| 66 |
|
|
| (1,022 | ) |
Other |
|
| (2,410 | ) |
|
| (162 | ) |
Changes in operating assets and liabilities: |
|
|
|
| ||||
Accounts receivable |
|
| (8,554 | ) |
|
| 188 |
|
Unbilled contracts receivable |
|
| (43,518 | ) |
|
| (13,556 | ) |
Prepaid expenses and other assets |
|
| 4,684 |
|
|
| 1,264 |
|
Accounts payable |
|
| (328 | ) |
|
| 87 |
|
Accrued and other liabilities |
|
| (7,047 | ) |
|
| (3,229 | ) |
Deferred revenue |
|
| (799 | ) |
|
| 537 |
|
Net cash used in operating activities |
|
| (56,569 | ) |
|
| (20,599 | ) |
Cash flows from investing activities: |
|
|
|
| ||||
Purchases of property and equipment |
|
| (3,304 | ) |
|
| (4,718 | ) |
Capitalized internal-use software |
|
| (9,175 | ) |
|
| (4,714 | ) |
Purchases of intangible assets |
|
| (157 | ) |
|
| (149 | ) |
Net cash used in divestiture |
|
| (227 | ) |
|
| — |
|
Net cash used in investing activities |
|
| (12,863 | ) |
|
| (9,581 | ) |
Cash flows from financing activities: |
|
|
|
| ||||
Repurchases of common stock |
|
| (9,999 | ) |
|
| — |
|
Proceeds from issuance of common stock under employee stock purchase plan |
|
| 4,328 |
|
|
| 5,850 |
|
Withholding taxes related to net share settlement of equity awards |
|
| (6,645 | ) |
|
| (4,313 | ) |
Net cash (used in) provided by financing activities |
|
| (12,316 | ) |
|
| 1,537 |
|
Effect of exchange rate changes on cash and cash equivalents |
|
| — |
|
|
| 46 |
|
Net decrease in cash and cash equivalents |
|
| (81,748 | ) |
|
| (28,597 | ) |
Cash and cash equivalents at beginning of period (1) |
|
| 154,434 |
|
|
| 160,127 |
|
Cash and cash equivalents at end of period |
| $ | 72,686 |
|
| $ | 131,530 |
|
(1) | Includes $12.3 million of cash and cash equivalents 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 September 30, | |||||||
|
| 2024 |
|
| 2023 |
| |||
Reconciliation of net income (loss) attributable to the Company: |
|
|
|
| |||||
GAAP net loss attributable to the Company |
| $ | (16,805 | ) |
| $ | (41,426 | ) | |
Adjustments to GAAP net loss attributable to the Company: |
|
|
|
| |||||
Stock-based compensation (1) |
|
| 15,249 |
|
|
| 17,622 |
| |
Amortization of intangible assets |
|
| 10,934 |
|
|
| 14,724 |
| |
Transaction, separation, integration and restructuring related costs: |
|
|
|
| |||||
Transaction, separation, integration and restructuring costs (2) |
|
| 7,961 |
|
|
| 1,904 |
| |
Severance and retention (3) |
|
| 9,184 |
|
|
| 1,149 |
| |
Income tax adjustment (4) |
|
| (3,216 | ) |
|
| 2,764 |
| |
| Non-GAAP net income (loss) attributable to the Company | $ | 23,307 |
|
| (3,263 | ) | |||
(1 | ) | Stock-based compensation included in above line items: | |||||||
Cost of revenue, excluding depreciation and amortization of intangible assets |
| $ | 822 |
|
| $ | 806 |
| |
Research and development |
| $ | 5,225 |
|
| $ | 6,584 |
| |
Selling, general and administrative |
| $ | 9,202 |
|
| $ | 10,232 |
| |
(2 | ) | Transaction, separation, integration and restructuring costs included in above line items: |
|
|
|
| |||
Cost of revenue, excluding depreciation and amortization of intangible assets |
| $ | — |
|
| $ | — |
| |
Research and development |
| $ | 4,324 |
|
| $ | — |
| |
Selling, general and administrative |
| $ | 3,384 |
|
| $ | 1,904 |
| |
Interest and other income (expense), net |
| $ | 253 |
|
| $ | — |
| |
(3 | ) | Severance and retention included in above line items: |
|
|
|
| |||
Cost of revenue, excluding depreciation and amortization of intangible assets |
| $ | 542 |
|
| $ | — |
| |
Research and development |
| $ | 6,287 |
|
| $ | 471 |
| |
Selling, general and administrative |
| $ | 2,355 |
|
| $ | 678 |
| |
|
|
|
|
| |||||
(4 | ) | The provision for income taxes is adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments. |
|
|
|
| |||
|
|
|
|
| |||||
| Reconciliation of net income (loss) per share attributable to the Company: |
|
|
|
| |||||
| GAAP net loss attributable to the Company |
| $ | (0.37 | ) |
| $ | (0.96 | ) | |
| Adjustments to GAAP net loss per share attributable to the Company: |
|
|
|
| |||||
Stock-based compensation |
|
| 0.33 |
|
|
| 0.41 |
| |
Amortization of intangible assets |
|
| 0.24 |
|
|
| 0.34 |
| |
Transaction, separation, integration and restructuring related costs |
|
| 0.38 |
|
|
| 0.07 |
| |
Income tax adjustment |
|
| (0.07 | ) |
|
| 0.06 |
| |
| Non-GAAP net income (loss) per share attributable to the Company |
| $ | 0.51 |
|
| $ | (0.08 | ) | |
|
|
|
|
| |||||
| GAAP weighted-average number of shares - basic and diluted |
|
| 45,683 |
|
|
| 43,316 |
| |
| Non-GAAP weighted-average number of shares - diluted |
|
| 45,837 |
|
|
| 43,316 |
|
XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) | ||||||||
|
| Three Months Ended September 30, | ||||||
|
| 2024 |
| 2023 | ||||
GAAP operating loss |
| $ | (18,555 | ) |
| $ | (31,051 | ) |
Adjustments to GAAP operating loss: |
|
|
|
| ||||
Stock-based compensation |
|
| 15,249 |
|
|
| 17,622 |
|
Amortization of intangible assets |
|
| 10,934 |
|
|
| 14,724 |
|
Transaction, separation, integration and restructuring related costs: |
|
|
|
| ||||
Transaction, separation, integration and restructuring costs |
|
| 7,708 |
|
|
| 1,904 |
|
Severance and retention |
|
| 9,184 |
|
|
| 1,149 |
|
Non-GAAP operating income |
| $ | 24,520 |
|
| $ | 4,348 |
|
XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) | ||||||||
|
| Three Months Ended September 30, | ||||||
|
| 2024 |
| 2023 | ||||
GAAP net loss |
| $ | (19,831 | ) |
| $ | (42,072 | ) |
Adjustments to GAAP net loss: |
|
|
|
| ||||
Interest expense |
|
| 1,123 |
|
|
| 770 |
|
Provision for income taxes |
|
| 2,899 |
|
|
| 9,685 |
|
Stock-based compensation |
|
| 15,249 |
|
|
| 17,622 |
|
Depreciation expense |
|
| 2,918 |
|
|
| 4,248 |
|
Amortization of intangible assets |
|
| 10,934 |
|
|
| 14,724 |
|
Amortization of capitalized cloud computing costs |
|
| 1,003 |
|
|
| 1,316 |
|
Transaction, separation, integration and restructuring related costs: |
|
|
|
| ||||
Transaction, separation, integration and restructuring costs |
|
| 7,961 |
|
|
| 1,904 |
|
Severance and retention |
|
| 9,184 |
|
|
| 1,149 |
|
Non-GAAP Adjusted EBITDA |
| $ | 31,440 |
|
| $ | 9,346 |
|
Non-GAAP Adjusted EBITDA Margin (1) |
|
| 23.7 | % |
|
| 7.2 | % |
(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/20241106743371/en/
CONTACT: Xperi Investor Contact:
Mike Iburg
VP, Investor Relations
+1 408-321-3827
ir@xperi.comMedia Contact:
Allyse Sanchez
Senior Director, External Communications
+1 925-548-2535
Allyse.sanchez@xperi.com
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE AUDIO/VIDEO HARDWARE TV AND RADIO ONLINE CONSUMER ELECTRONICS TECHNOLOGY ENTERTAINMENT
SOURCE: Xperi Inc
Copyright Business Wire 2024.
PUB: 11/06/2024 04:40 PM/DISC: 11/06/2024 04:40 PM
http://www.businesswire.com/news/home/20241106743371/en