Business
Xperi Holding Corporation Announces Third Quarter 2021 Results
SAN JOSE, Calif.--(BUSINESS WIRE)-- Xperi Holding Corporation (Nasdaq: XPER) (the “Company”, “Xperi” or “we”) today announced financial results for the third
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[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nXperi Holding Corporation (Nasdaq: XPER) (the “Company”, “Xperi” or “we”) today announced financial results for the third quarter ended September 30, 2021.\n\n“We finished the third quarter with better-than-expected revenue, cash flow, and earnings, and we remain on track to deliver strong financial results for the year, despite seeing an increased impact from general supply chain constraints,” said Jon Kirchner, chief executive officer of Xperi. “Importantly, we’ve made significant progress driving growth in our IP business, as well as advancing DTS AutoStage and DTS AutoSense deployments, increasing IPTV adoption, and expanding the TiVo Stream platform.”\n\nThird Quarter 2021 Financial Highlights:\n\n\nRevenue of $219.4 million, up 8.2% year-over-year.\n\n\nGAAP loss per share of $(0.43) and non-GAAP earnings per share of $0.53.\n\n\nCash Flow from Operations of $82.9 million.\n\n\nAdjusted Free Cash Flow1 of $87.7 million.\n\n\nRepurchased $24.8 million of common stock.\n\n\nThird Quarter 2021 Business and Recent Operating Highlights:\n\nIP Licensing Business (Revenue: $101.6 million)\n\n\nContinued to demonstrate the long-term stability and significant profitability of the media IP business.\n\n\nSigned a license with Yangtze Memory Technologies Co., Ltd. (YMTC), the first company to ship commercial 3D NAND product that incorporates hybrid bonding.\n\n\nProduct Business (Revenue: $117.7 million)\n\nConsumer Experience business highlights:\n\n\nRevenue of $46.1 million.\n\n\nAnnounced that The Walt Disney Company, IMAX, and DTS will launch IMAX Enhanced on Disney+ on November 12, 2021, beginning with the Marvel Cinematic Universe.\n\n\nExpanded ad-supported TiVo+ with new content partners including QVC, Hallmark Movies & More, Magnolia Pictures and Kevin Hart’s Laugh Out Loud; expanded Pluto TV offering with 33 new channels; and added AcornTV to the TiVo Stream 4K.\n\n\nSuccessfully launched new Connected TV advertising product with unique audience targeting based on TiVo’s viewership data.\n\n\nPay-TV business highlights:\n\n\nRevenue of $54.2 million.\n\n\nSaw accelerated IPTV deployments and supported Cable One, Service Electric Cablevision, Blue Ridge, and Armstrong in launching IPTV services.\n\n\nConnected Car business highlights:\n\n\nRevenue of $17.4 million.\n\n\nDelivered HD Rad...