Slide 1: Q1 2025 Earnings
XPERI. Q1 2025 Earnings May 7, 2025
Slide 2: Safe Harbor
Safe Harbor This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including, w
Slide 3: Mission, Vision, Markets, Solutions
MISSION VISION MARKETS SOLUTIONS WHAT WHY WHERE WHO Xperi invents, Smarter technology = Media Platform TiVo® develops, and delivers Extraordinary experiences Connected Car DTS® technologies that enable Pay TV HD Radio extraordinary experiences Consumer Electronics IMAX® Enhanced1 1 IMAX® Enhanced is
Slide 4: Q1 Financial Highlights
Q1 Financial Highlights ▪ Q1 revenue of $114M ▪ GAAP operating expenses, including cost of revenue, decreased 14% ▪ Non-GAAP adjusted operating expense1,2 decreased 17% due to cost transformation initiatives and the impact of divestitures ▪ GAAP net loss attributable to the Company of ($18M) and Non
Slide 5: Markets and Product
Growth Solutions Core Solutions TiVo One Monetization Smart TV Middleware Media Platform Markets and Product (ConnectedLines TV + Broadband) DTS AutoStage HD Radio Connected Car (In-Cabin Entertainment) Music Metadata Search & Discovery Video-Over-Broadband Pay TV (IPTV) Classic Guides Consumer Hard
Slide 6: TiVo One Ad Platform
TiVo One Ad Platform TiVo OS TiVo One is a cross-screen ad platform for maximizing engagement and monetization on streaming devices powered by TiVo Reached 2.5 million TiVo One Monthly Active Users as of Q1 Video-over-Broadband (IPTV) Ad Platform 2025 TiVo One Monthly Active User defined as a unique
Slide 7: Media Platform
Media Platform Reached 2.5 million TiVo One Monthly Active Users as of Q1 2025 Rolled out TiVo One home page ad unit to enhance monetization opportunities Launched 80+ additional streaming services onto the TiVo OS platform Expanded TiVo OS global supply chain, designed to allow for broader and more
Slide 8: Connected Car
Connected Car HD Radio momentum continued with signing of two multi-year HD Radio agreements with Tier-1 manufacturers HD Radio launched 15 new models in North America DTS AutoStage finished with a footprint of 11 million vehicles in over 130 countries Previously announced design win, Audi, has now
Slide 9: Pay TV
Pay TV Finished with over 2.75 million video-over-broadband (IPTV) subscriber households, up 36% year over year Expanded U.S.-based CTV monetization footprint, bringing the cumulative total of TiVo broadband wins to over 30 Enabled enhanced sports features and the TiVo One home page ad unit on certa
Slide 10: Consumer Electronics
Consumer Electronics Signed several long-term DTS audio renewals including Skyworth, TCL, Hisense, TPV and Best Buy Signed IMAX Enhanced renewals with Honor and Philips/TPV, expanded content commitments with Sony Pictures, and continued to add new hit titles to the Disney+ line up 10 © 2025 Xperi In
Slide 11: Tracking Toward 2025 Exit Growth Goals
Tracking Toward 2025 Exit Growth Goals Media Platform Pay TV Connected Car TiVo One – TiVo OS TiVo IPTV DTS AutoStage ➢ More than 5 Million TiVo One Monthly Active Users* * One across ➢ Activate TiVo ➢ DTS AutoStage footprint of across Europe & North North America video- over 13M vehicles America ov
Slide 12: Q1 2025 Revenue Breakdown
Q1 2025 Revenue Breakdown Excluding Perceive2 Market Y/Y Y/Y % Y/Y Y/Y % Q1 2024 Q1 2025 ($ in thousands) Change Change Change Change Pay TV 56,806 49,864 (6,942) (12%) (6,942) (12%) - Core Pay TV1 38,642 27,205 (11,437) (30%) (11,437) (30%) - IPTV 18,164 22,659 4,495 25% 4,495 25% Consumer Electron
Slide 13: Q1 2025 Summary Financial Results
Q1 2025 Summary Financial Results Q1 2024 Q1 2025 Y/Y Q1 2024 Q1 2025 Y/Y ($ in thousands, except per share amounts) GAAP GAAP Change Non-GAAP3 Non-GAAP3 Change Revenue 118,844 114,033 (4,811) 118,844 114,033 (4,811) Cost of revenue1 29,756 29,599 (157) 28,528 28,330 (198) Adjusted operating expense
Slide 14: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Finished first quarter of 2025 with $88 million of cash and cash equivalents, after $10 million paydown of current debt within the quarter Refinanced outstanding debt during the quarter: • $10 million paid down with cash • $40 million financed with 3-year receivables-back
Slide 15: Financial Outlook for FY 2025
Financial Outlook for FY 2025 The Company maintains its outlook for fiscal year 2025 as it continues to monitor macroeconomic conditions: Category ($ in millions) GAAP Outlook Non-GAAP Outlook Revenue $480 to $500 $480 to $500 Adjusted EBITDA Margin1, 2 n/a 16% to 18% Additional Information Operatin
Slide 16: We create extraordinary experiences
Connected Car We create extraordinary experiences at home, in the car, and on the go Consumer Pay TV Electronics for millions of consumers around the world. Media Platform 16 © 2023 Xperi. All rights reserved.
Slide 17: Thank You
Thank You
Slide 18: Reconciliation Tables
Reconciliation Tables
Slide 19: Non-GAAP Financial Measures
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 and presentation contain non-GAAP financial measures, including Non-GAAP Operating Income/(Loss), Non-GAAP Net Inc
Slide 20: GAAP to Non-GAAP Net (Loss) Income Reconciliation
GAAP to Non-GAAP Net (Loss) Income Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended March 31, 2025 2024 Reconciliation of net income (loss) attributable to the Company: GAAP net loss attributable to the Company $ (18,3
Slide 21: GAAP to Non-GAAP Net (Loss) Income per Share Reconciliation
GAAP to Non-GAAP Net (Loss) Income per Share Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share amounts) (unaudited) Reconciliation of net income (loss) per share attributable to the Company: GAAP net loss attributable to the Company $ (0.41 ) $ (0.29 ) Adjust
Slide 22: Operating (Loss) Income Reconciliation
Operating (Loss) Income Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 GAAP operating loss $ (16,440) $ (32,327) Adjustments to GAAP operating loss: Stock-based compensation 12,102 14,757 Amortization of intangible assets
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 GAAP net loss $ (18,366 ) $ (13,371 ) Adjustments to GAAP net loss: Interest expense 897 851 Provision for income taxes 3,489 4,272 Stock-based compensation 12
Slide 24: Adjusted Operating Expense Reconciliation
Adjusted Operating Expense Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 Total GAAP operating expenses $ 130,473 $ 151,171 Less: Cost of revenue, excluding depreciation and amortization of intangible assets (29,599 ) (29,