Xperi Inc. · NYSE:XPER
Xperi — Q2 2025 Earnings Presentation
24 slides from Xperi's earnings presentation, Aug 6, 2025
Slide 1: Q2 2025 Earnings
Q2 2025 Earnings August 6, 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,
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: Q2 Summary Financial Metrics
Q2 Summary Financial Metrics ▪ Revenue of $106M ▪ GAAP operating expenses, including cost of revenue, decreased 17% ▪ Non-GAAP adjusted operating expense1,2 decreased 23% due primarily to business transformation and cost management ▪ GAAP net loss attributable to the Company of ($15M) and Non-GAAP1
Slide 5: Markets and Product Solutions
Growth Solutions Core Solutions TiVo One Ad Platform Smart TV Middleware Media Platform Markets and Product (ConnectedLines TV + Streaming Devices) DTS AutoStage HD Radio Connected Car (In-Cabin Entertainment) Music Metadata Search & Discovery Video-Over-Broadband Pay TV (IPTV) Classic Guides Consum
Slide 6: TiVo One Ad Platform
TiVo One Ad Platform TiVo OS (Smart TV) Our Solution TiVo One ad platform connects Smart TV's and set top boxes powered by TiVo into a cross-screen ad platform for maximizing engagement and monetization on streaming devices How We Win We differentiate our solution by: Ad Platform (1) Delivering a be
Slide 7: TiVo One Ad Platform: Progress and 2025 Exit Goals
TiVo One Ad Platform: Progress and 2025 Exit Goals Strategic Progress as of Q2 2025 We have announced 9 TiVo OS TV partners and 3.7 million monthly active users on the TiVo One Ad Platform. Now shipping Smart TVs powered by TiVo in 40+ countries, 80+ television brands across 30+ major retailers. Our
Slide 8: Connected Car
Connected Car HIGHLIGHTS: Signed two new DTS AutoStage OEM programs, reached over 12 million vehicles, and new models launched including BMW 5-Series, Kia EV9, and Hyundai Ioniq 5 and Ioniq 9 Broadened the ecosystem for DTS AutoStage by expanding number of global broadcasters Signed HD Radio IC cont
Slide 9: Pay TV
Pay TV HIGHLIGHTS: IPTV subscriber growth of over 30 percent across North America and Latin America Signed multi-year renewals with large operators including Liberty Latin America and Cable One Exceeded 2025 goal of 3 million global subscriber households for IPTV Executed international metadata agre
Slide 10: Consumer Electronics
Consumer Electronics HIGHLIGHTS: Signed key contract renewals for DTS sound technology with TPV (Philips), TCL and Sony Renewed IMAX® Enhanced* license agreement with Sony for TVs, soundbars, receivers, and projectors Signed the first customer TV contract for DTS Clear Dialogue, an AI-based dialogue
Slide 11: 2025 Exit Growth Goals
2025 Exit Growth Goals Media Platform Pay TV Connected Car TiVo One Ad Platform 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 over-broadband d
Slide 12: Q2 2025 Revenue Breakdown
Q2 2025 Revenue Breakdown Excluding Perceive2 Market Y/Y Y/Y % Y/Y Y/Y % Q2 2024 Q2 2025 ($ in thousands) Change Change Change Change Pay TV 60,752 49,937 (10,815) (18%) (10,815) (18%) - Core Pay TV1 41,768 26,424 (15,344) (37%) (15,344) (37%) - IPTV 18,984 23,513 4,529 24% 4,529 24% Consumer Electr
Slide 13: Q2 2025 Summary Financial Results
Q2 2025 Summary Financial Results Q2 2024 Q2 2025 Y/Y Q2 2024 Q2 2025 Y/Y ($ in thousands, except per share amounts) GAAP GAAP Change Non-GAAP3 Non-GAAP3 Change Revenue 119,591 105,933 (13,658) 119,591 105,933 (13,658) Cost of revenue1 28,953 33,549 4,596 28,051 32,705 4,654 Adjusted operating expen
Slide 14: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Finished second quarter of 2025 with $95 million of cash and cash equivalents, an increase of $7 million from the first quarter of 2025 Positive Operating Cash Flow in second quarter of 2025 of $10 million, an improvement of $12 million from second quarter of 2024 Positiv
Slide 15: Financial Outlook for FY 2025
Financial Outlook for FY 2025 Category ($ in millions) GAAP Outlook Non-GAAP Outlook Revenue $440 to $460 $440 to $460 Adjusted EBITDA Margin1, 2 n/a 15% to 17% Additional Information Operating Cash Flow3 Neutral +/- $10M Non-GAAP Tax Expense2 ~$20M Capital Expenditures ~$20M Basic and Fully Diluted
Slide 16: We create extraordinary experiences at home, in the car, and on the go
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 June 30, 2025 2024 Reconciliation of net income attributable to the Company: GAAP net loss attributable to the Company $ (14,781 ) $ (
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 per share attributable to the Company: GAAP net loss attributable to the Company $ (0.32 ) $ (0.67 ) Adjustments t
Slide 22: Operating (Loss) Income Reconciliation
Operating (Loss) Income Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended June 30, 2025 2024 GAAP operating loss $ (11,133) $ (21,907) Adjustments to GAAP operating loss: Stock-based compensation 10,327 15,303 Amortization of intangible assets 9
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended June 30, 2025 2024 GAAP net loss $ (14,781 ) $ (30,631 ) Adjustments to GAAP net loss: Interest expense 915 925 Provision for income taxes 4,636 9,266 Stock-based compensation 10,
Slide 24: Adjusted Operating Expense Reconciliation
Adjusted Operating Expense Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended June 30, 2025 2024 Total GAAP operating expenses $ 117,066 $ 141,498 Less: Cost of revenue, excluding depreciation and amortization of intangible assets (33,549 ) (28,9