Business
Xperi Holding Corporation Announces Fourth Quarter 2021 Results
SAN JOSE, Calif.--(BUSINESS WIRE)-- Xperi Holding Corporation (Nasdaq: XPER) (the “Company”, “Xperi” or “we”) today announced financial results for the
About this update from Adeia Inc.
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nXperi Holding Corporation (Nasdaq: XPER) (the “Company”, “Xperi” or “we”) today announced financial results for the fourth quarter ended Dec. 31, 2021.\n\n“Our fourth quarter performance was solid, and we finished the year with revenue around the mid-point of our guidance and earnings above expectations. I’m proud of how our team has navigated the shifting pandemic challenges to position the Company for success,” said Jon Kirchner, chief executive officer of Xperi. “Importantly, we continued to successfully deliver against the key strategic objectives we set following our merger with TiVo nearly two years ago. To that end, we are thrilled to announce a new agreement with Micron, a strong indicator of the industry’s continued move toward hybrid bonding as a key enabling technology.”\n\nFourth Quarter 2021 Financial Highlights:\n\n\nRevenue of $214.4 million for the quarter, compared to $433.9 million for Q4 2020, which included prior period revenue from the Comcast agreement. Quarterly revenue was up more than 2% excluding prior period Comcast revenue.\n\n\nGAAP loss per share of $(0.14) and non-GAAP earnings per share of $0.30.\n\n\nCash Flow from Operations of $68.9 million.\n\n\nAdjusted Free Cash Flow1 of $65.3 million.\n\n\nRepurchased $25.1 million of common stock.\n\n\n1Adjusted Free Cash Flow is defined as Operating Cash Flow, less purchases of property and equipment, plus merger and integration, separation, and severance and retention costs.\n\nFull Year 2021 Financial Highlights:\n\n\nRevenue of $877.7 million for the full year 2021.\n\n\nGAAP loss per share of $(0.53) and non-GAAP earnings per share of $2.03.\n\n\nCash Flow from Operations of $234.8 million.\n\n\nReturned over $100 million to stockholders through dividends and share repurchases.\n\n\nFourth Quarter 2021 Business and Recent Operating Highlights:\n\nIP Licensing Business (Revenue: $89.7 million)\n\n\nIncreased go-forward average annual revenue baseline from $350 million to $375 million.\n\n\nEntered into a new multi-year license agreement with Micron Technology, Inc., which covers our hybrid bonding IP.\n\n\nLaunched new brand for the IP licensing business, “Adeia.”\n\n\nProduct Business (Revenue: $124.7 million)\n\nPay-TV business highlights:\n\n\nIPTV subscribers grew organically by more than 5 times year-over-year...