Slide 1: Q1 2023 Earnings
Q1 2023 Earnings May 8, 2023 1 © 2023 Adeia | All rights reserved.
Slide 2: Safe Harbor
Safe Harbor This presentation contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on in
Slide 3: Q1 2023 Highlights
Q1 2023 Closed 8 renewals and new license agreements in our media and Highlights semiconductor businesses Kioxia and Western Digital signed long-term agreements to license our semiconductor patent portfolio, which includes our hybrid bonding patents Revenue of $117.3 million, adjusted SEBITDA of $85
Slide 4: Deal Momentum
Deal Kioxia and Western Digital signed significant long-term new license Momentum agreements, validating the value of our hybrid bonding technology Verizon signed a multi-year extension of its license agreement, further confirming the validity and longevity of our media IP portfolio Altice signed an
Slide 5: $1 Billion Total Contract Value Signed Since 2021
$1 Billion Total Contract Value Signed Since 2021 (1) 2021 2022 2023 Supported by over 70 license agreements (2) Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Deals Signed By Quarter (1) We define total contract value to include fixed fee amounts and the estimated variable fees over the cont
Slide 6: Representative Long-Term Customer Relationships
Representative Long-Term Customer Relationships 25 20 15 Years 10 5 0 6 © 2023 Adeia | All rights reserved.
Slide 7: OTT Growth Opportunity
OTT Growth Opportunity US Pay-TV and OTT Subscriptions 600 500 400 Millions 300 200 100 0 2021 2022 2023 2024 2025 2026 2027 2028 Pay-TV OTT 7 Source: Omdia, 2023; Pay-TV represents traditional Pay-TV and Virtual Pay-TV subscriptions. OTT represents SVOD subscriptions. © 2023 Adeia | All rights rese
Slide 8: Measures of Success
Increase Long-Term Baseline Revenue Measures Continue to execute renewals and new customer agreements that will increase our annual baseline revenue over the long-term of Success IP Portfolio Generation Increase patent portfolio 10% year over year with increased internal R&D and strategic acquisitio
Slide 9: Q1 2023 Results
Q1 2023 Results Category (in millions) Q1 ‘23 GAAP Q1 ‘23 NON-GAAP Revenue $117.3 $117.3 Operating expenses $62.2 $31.9 Interest expense $15.9 $15.9 Other income, net $1.6 $1.3 Income tax expense $11.8 $16.3 Net income $29.0 $54.5 Adjusted EBITDA N/A $85.8 Diluted shares outstanding 113.4 113.4 9 ©
Slide 10: FY 2023 Outlook
FY 2023 Outlook Category (in millions, except tax rate) FY ’23 GAAP Outlook FY ’23 Non-GAAP Outlook Revenue $385.0 – 415.0 $385.0 – 415.0 Operating expenses $253.0 – 267.0 $135.0 – 145.0 Interest expense $64.0 – 67.0 $64.0 – 67.0 Other income, net $2.5 - 3.0 $2.5 - 3.0 Tax rate 23% - 25% 23% Net inc
Slide 11: Value Proposition
Value Proposition Foundation Driven by Ongoing Innovation Focused Capital Strong Portfolios and and Capitalization of Allocation to Maximize Technology Offerings Market Trends Drive Shareholder Value Growth ~ 10,000 patents provide both Focused investments in depth and breadth to our Ongoing innovat
Slide 12: Question & Answer
Question & Answer 12 © 2023 Adeia | All rights reserved.
Slide 13: Thank you!
Thank you! 13 © 2023 Adeia | All rights reserved.