Xperi Inc. Announces Fourth Quarter and Full Year 2023 Results
Signs Additional Smart TV OEM to Integrate TiVo OS;
Completes Divestiture of
Initiates Formal Process to Evaluate Strategic Alternatives for Perceive
“Closing out our first full fiscal year as a standalone public company, we posted another quarter of solid financial results as we advanced our ongoing cost transformation efforts and delivered important design wins,” said
Financial Highlights
GAAP Highlights ($ millions, except per share data) |
Q4 FY23 |
Q4 FY22 |
|
Full Year 2023 |
Full Year 2022 |
Revenue |
|
|
|
|
|
GAAP Operating Loss |
( |
( |
|
( |
( |
GAAP Net Loss |
( |
( |
|
(139.7) |
(761.2) |
GAAP Loss per Share Attributable to the Company |
( |
( |
|
( |
( |
|
|
|
|||
Non-GAAP1,2 Highlights ($ millions, except per share data) |
Q4 FY23 |
Q4 FY22 |
|
Full Year 2023 |
|
Revenue |
|
|
|
|
|
Non-GAAP Operating Income/(Loss) |
|
( |
|
|
|
Adjusted EBITDA |
|
|
|
|
|
Non-GAAP Earnings per Share |
|
|
|
|
|
1 For further information on supplemental non-GAAP metrics, refer to the “Non-GAAP Financial Measures” and GAAP to non-GAAP Reconciliations provided in the financial statement tables included in this press release. |
|||||
2 Due to the use of carve-out accounting for the first three quarters of fiscal year 2022, certain non-GAAP metrics are not relevant on a comparable basis. |
Recent Key Operating Achievements
Media Platform
- Skyworth, a Top 10 global Smart TV manufacturer, has signed an agreement to integrate the TiVo Operating System into their 2024 Smart TV lineup.
-
Vestel is now shipping Smart TVs Powered by TiVo into seven European countries, including the
U.K. andGermany , and is expected to continue expanding into additional European countries under more than a dozen brands such as JVC, Telefunken, and Vestel. -
Sharp and Argos (a leading
U.K. consumer electronics retailer) expect to have Smart TVs Powered by TiVo in retail stores this spring acrossEurope and theU.K. , respectively. Argos will launch TVs with TiVO OS under their house brand Bush.
Connected Car
- BMW is deploying DTS AutoStage Video Service, Powered by TiVo, across select new cars in production and certain late-model vehicles already on the road via an over-the-air (OTA) update, with plans to expand deployments to its Mini brand.
- Won three new DTS AutoStage contracts with major Asian and European automotive partners.
-
Ended 2023 with committed business in Connected Car totaling more than
$300M , growth of more than 10% from the prior year when adjusting for theAutoSense divestiture.
Pay TV
-
Ended 2023 with 1.9 million video-over-broadband (“IPTV”) subscribers generating approximately
$60M in revenue, up 38% year over year; signed agreement with Summit Broadband and launched multiple new service providers, includingHawaii Telecom and EverFast Fiber. - Launched TiVo Broadband, a streaming-based media platform delivering subscription video-on-demand, TiVo+ free ad-supported TV, and customer specific linear channels to broadband-only customers.
Consumer Electronics
- Signed several multi-year IMAX Enhanced license agreements with major consumer electronics manufacturers, including Hisense and Xgimi.
-
Signed a new DTS:X decoder agreement with a major
U.S. retailer for their house brand of certain consumer electronics products; signed major renewal with Masimo, a leading provider of audio equipment through brands such as Denon, Marantz, Definitive Technology and Polk Audio.
Perceive
- Continued development efforts to deliver Perceive technology to a big tech partner for product commercialization, while also advancing efforts on large language model compression.
-
Hired
Centerview Partners LLC to explore strategic alternatives for Perceive.
Financial Outlook
The Company is providing the following outlook for fiscal year 2024:
Category ($ in millions) |
GAAP Outlook |
Non-GAAP Outlook |
Revenue |
|
|
Adjusted EBITDA Margin1,2 |
n/a |
12% to 14% |
1 See discussion of “Non-GAAP Financial Measures” below. |
||
2 With respect to Adjusted EBITDA Margin, the Company has determined that it is unable to provide a quantitative reconciliation of this forward-looking non-GAAP measure to the most directly comparable forward-looking GAAP measure with a reasonable degree of confidence in its accuracy without unreasonable effort, as items including restructuring and impacts from discrete tax adjustments and tax law changes are inherently uncertain and depend on various factors, many of which are beyond the Company's control. |
Conference Call Information
The Company will hold its fourth quarter and full-year 2023 earnings conference call at
Safe Harbor Statement
This press release 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 information available to the Company as of the date hereof, as well as the Company’s current expectations, assumptions, estimates and projections that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in the documents we file with the
About
Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands DTS®, HD Radio™, TiVo®, and by its startup, Perceive, are integrated into billions of consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences. Additionally, Xperi delivers solutions through partnerships, including IMAX® Enhanced, a certification and licensing program operated by IMAX Corporation and
©2024
Non-GAAP Financial Measures
In addition to disclosing financial results calculated in accordance with
Set forth below are reconciliations of the Company’s reported GAAP to non-GAAP financial measures.
XPER-E
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) |
|||||||||||||||||
|
|
Three Months Ended |
|
|
Year Ended |
|
|
||||||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Revenue |
|
$ |
137,233 |
|
|
$ |
135,531 |
|
|
$ |
521,334 |
|
|
$ |
502,260 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of revenue, excluding depreciation and amortization of intangible assets |
|
|
33,567 |
|
|
|
37,258 |
|
|
|
118,628 |
|
|
|
122,946 |
|
|
Research and development |
|
|
55,840 |
|
|
|
57,713 |
|
|
|
222,833 |
|
|
|
216,355 |
|
|
Selling, general and administrative |
|
|
59,510 |
|
|
|
60,506 |
|
|
|
233,403 |
|
|
|
217,402 |
|
|
Depreciation expense |
|
|
4,102 |
|
|
|
4,804 |
|
|
|
16,645 |
|
|
|
20,501 |
|
|
Amortization expense |
|
|
13,403 |
|
|
|
16,044 |
|
|
|
57,752 |
|
|
|
62,209 |
|
|
|
|
|
— |
|
|
|
250,555 |
|
|
|
— |
|
|
|
604,555 |
|
|
Impairment of long-lived assets |
|
|
614 |
|
|
|
7,724 |
|
|
|
1,710 |
|
|
|
7,724 |
|
|
Total operating expenses |
|
|
167,036 |
|
|
|
434,604 |
|
|
|
650,971 |
|
|
|
1,251,692 |
|
|
Operating loss |
|
|
(29,803 |
) |
|
|
(299,073 |
) |
|
|
(129,637 |
) |
|
|
(749,432 |
) |
|
Other (expense) income, net |
|
|
51 |
|
|
|
2,117 |
|
|
|
(9 |
) |
|
|
1,815 |
|
|
Loss before taxes |
|
|
(29,752 |
) |
|
|
(296,956 |
) |
|
|
(129,646 |
) |
|
|
(747,617 |
) |
|
(Benefit from) provision for income taxes |
|
|
(4,439 |
) |
|
|
1,090 |
|
|
|
10,042 |
|
|
|
13,589 |
|
|
Net loss |
|
|
(25,313 |
) |
|
|
(298,046 |
) |
|
|
(139,688 |
) |
|
|
(761,206 |
) |
|
Less: net loss attributable to noncontrolling interest |
|
|
(521 |
) |
|
|
(1,016 |
) |
|
|
(3,075 |
) |
|
|
(3,722 |
) |
|
Net loss attributable to the Company |
|
$ |
(24,792 |
) |
|
$ |
(297,030 |
) |
|
$ |
(136,613 |
) |
|
$ |
(757,484 |
) |
|
Net loss per share attributable to the Company - basic and diluted |
|
$ |
(0.57 |
) |
|
$ |
(7.06 |
) |
|
$ |
(3.18 |
) |
|
$ |
(18.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted-average number of shares used in net loss per share calculations - basic and diluted |
|
|
43,717 |
|
|
|
42,043 |
|
|
|
43,012 |
|
|
|
42,029 |
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) |
||||||||
|
|
|
|
|
|
|
||
|
|
2023 |
|
|
2022 |
|
||
ASSETS |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
142,085 |
|
|
$ |
160,127 |
|
Accounts receivable, net |
|
|
55,984 |
|
|
|
64,712 |
|
Unbilled contracts receivable, net |
|
|
64,114 |
|
|
|
65,251 |
|
Prepaid expenses and other current assets |
|
|
38,874 |
|
|
|
42,174 |
|
Assets held for sale |
|
|
15,860 |
|
|
|
— |
|
Total current assets |
|
|
316,917 |
|
|
|
332,264 |
|
Unbilled contracts receivable, noncurrent |
|
|
18,231 |
|
|
|
4,289 |
|
Property and equipment, net |
|
|
41,569 |
|
|
|
47,827 |
|
Operating lease right-of-use assets |
|
|
39,900 |
|
|
|
52,901 |
|
Intangible assets, net |
|
|
206,895 |
|
|
|
264,376 |
|
Deferred tax assets |
|
|
5,093 |
|
|
|
2,096 |
|
Other noncurrent assets |
|
|
32,781 |
|
|
|
33,158 |
|
Assets held for sale, noncurrent |
|
|
12,249 |
|
|
|
— |
|
Total assets |
|
$ |
673,635 |
|
|
$ |
736,911 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
20,849 |
|
|
$ |
14,864 |
|
Accrued liabilities |
|
|
109,961 |
|
|
|
110,014 |
|
Deferred revenue |
|
|
28,111 |
|
|
|
25,363 |
|
Liabilities held for sale |
|
|
6,191 |
|
|
|
— |
|
Total current liabilities |
|
|
165,112 |
|
|
|
150,241 |
|
Long-term debt |
|
|
50,000 |
|
|
|
50,000 |
|
Deferred revenue, noncurrent |
|
|
19,425 |
|
|
|
19,129 |
|
Operating lease liabilities, noncurrent |
|
|
30,598 |
|
|
|
42,666 |
|
Deferred tax liabilities |
|
|
6,983 |
|
|
|
12,899 |
|
Other noncurrent liabilities |
|
|
4,577 |
|
|
|
12,990 |
|
Liabilities held for sale, noncurrent |
|
|
9,805 |
|
|
|
— |
|
Total liabilities |
|
|
286,500 |
|
|
|
287,925 |
|
Equity: |
|
|
|
|
|
|
||
Common stock |
|
|
44 |
|
|
|
42 |
|
Additional paid-in capital |
|
|
1,212,501 |
|
|
|
1,136,330 |
|
Accumulated other comprehensive loss |
|
|
(2,865 |
) |
|
|
(4,119 |
) |
Accumulated deficit |
|
|
(805,448 |
) |
|
|
(668,835 |
) |
|
|
|
404,232 |
|
|
|
463,418 |
|
Noncontrolling interest |
|
|
(17,097 |
) |
|
|
(14,432 |
) |
Total equity |
|
|
387,135 |
|
|
|
448,986 |
|
Total liabilities and equity |
|
$ |
673,635 |
|
|
$ |
736,911 |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) |
||||||||
|
|
Year Ended |
|
|||||
|
|
2023 |
|
|
2022 |
|
||
Cash flows from operating activities: |
|
|
|
|
|
|
||
Net loss |
|
$ |
(139,688 |
) |
|
$ |
(761,206 |
) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
||
Depreciation of property and equipment |
|
|
16,645 |
|
|
|
20,501 |
|
Amortization of intangible assets |
|
|
57,752 |
|
|
|
62,209 |
|
Stock-based compensation |
|
|
69,531 |
|
|
|
45,303 |
|
|
|
|
— |
|
|
|
604,555 |
|
Impairment of long-lived assets |
|
|
1,710 |
|
|
|
7,724 |
|
Deferred income taxes |
|
|
(8,596 |
) |
|
|
(9,261 |
) |
Other |
|
|
748 |
|
|
|
24 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
||
Accounts receivable |
|
|
5,721 |
|
|
|
17,505 |
|
Unbilled contracts receivable |
|
|
(19,386 |
) |
|
|
(12,473 |
) |
Prepaid expenses and other assets |
|
|
2,696 |
|
|
|
(20,439 |
) |
Accounts payable |
|
|
5,071 |
|
|
|
6,633 |
|
Accrued and other liabilities |
|
|
3,688 |
|
|
|
18,782 |
|
Deferred revenue |
|
|
4,170 |
|
|
|
(8,302 |
) |
Net cash provided by (used in) operating activities |
|
|
62 |
|
|
|
(28,445 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
||
Net cash paid for mergers and acquisitions |
|
|
— |
|
|
|
(50,473 |
) |
Purchases of property and equipment |
|
|
(12,748 |
) |
|
|
(14,207 |
) |
Purchases of intangible assets |
|
|
(185 |
) |
|
|
(166 |
) |
Net cash used in investing activities |
|
|
(12,933 |
) |
|
|
(64,846 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
||
Net proceeds from capital contributions by Former Parent |
|
|
— |
|
|
|
83,235 |
|
Net transfers from Former Parent |
|
|
— |
|
|
|
52,802 |
|
Proceeds from issuance of common stock under employee stock purchase plan |
|
|
11,927 |
|
|
|
— |
|
Withholding taxes related to net share settlement of equity awards |
|
|
(4,875 |
) |
|
|
(286 |
) |
Net cash provided by financing activities |
|
|
7,052 |
|
|
|
135,751 |
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
126 |
|
|
|
(3,028 |
) |
Net (decrease) increase in cash and cash equivalents |
|
|
(5,693 |
) |
|
|
39,432 |
|
Cash and cash equivalents at beginning of period |
|
|
160,127 |
|
|
|
120,695 |
|
Cash and cash equivalents at end of period (1) |
|
$ |
154,434 |
|
|
$ |
160,127 |
|
(1) Including |
|
|
|
|
|
|
GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share amounts) (unaudited) |
||||||||||||
Net income attributable to the Company: |
|
|
|
|
|
|
|
|
|
|||
|
|
Three Months Ended |
|
|
Year Ended |
|
||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
GAAP net loss attributable to the Company |
|
$ |
(24,792 |
) |
|
$ |
(297,030 |
) |
|
$ |
(136,613 |
) |
|
|
|
|
|
|
|
|
|
|
|||
Adjustments to GAAP net loss attributable to the Company: |
|
|
|
|
|
|
|
|
|
|||
Stock-based compensation(1) |
|
|
17,850 |
|
|
|
15,542 |
|
|
|
69,531 |
|
Amortization of intangible assets |
|
|
13,403 |
|
|
|
16,044 |
|
|
|
57,752 |
|
|
|
|
- |
|
|
|
250,555 |
|
|
|
- |
|
Impairment of long-lived assets |
|
|
614 |
|
|
|
7,724 |
|
|
|
1,710 |
|
Transaction, separation, integration and restructuring related costs: |
|
|
|
|
|
|
|
|
|
|||
Transaction, separation, integration and restructuring costs(2) |
|
|
4,145 |
|
|
|
2,234 |
|
|
|
7,954 |
|
Severance and retention(3) |
|
|
925 |
|
|
|
2,300 |
|
|
|
3,866 |
|
Non-GAAP tax adjustment(4) |
|
|
(6,366 |
) |
|
|
6,340 |
|
|
|
(3,646 |
) |
Non-GAAP net income attributable to the Company |
|
$ |
5,779 |
|
|
$ |
3,709 |
|
|
$ |
554 |
|
|
|
|
|
|
|
|
|
|
|
|||
(1) Stock-based compensation included in above line items: |
|
|
|
|
|
|
|
|
|
|||
Cost of revenue, excluding depreciation and amortization of intangible assets |
|
$ |
941 |
|
|
$ |
729 |
|
|
$ |
3,466 |
|
Research and development |
|
$ |
6,736 |
|
|
$ |
5,266 |
|
|
$ |
25,276 |
|
Selling, general and administrative |
|
$ |
10,173 |
|
|
$ |
9,547 |
|
|
$ |
40,789 |
|
|
|
|
|
|
|
|
|
|
|
|||
(2) Transaction, separation, integration and restructuring related costs included in above line items: |
|
|
|
|
|
|
|
|
|
|||
Cost of revenue, excluding depreciation and amortization of intangible assets |
|
$ |
214 |
|
|
$ |
(24 |
) |
|
$ |
214 |
|
Research and development |
|
$ |
786 |
|
|
$ |
(67 |
) |
|
$ |
786 |
|
Selling, general and administrative |
|
$ |
3,145 |
|
|
$ |
2,325 |
|
|
$ |
6,954 |
|
|
|
|
|
|
|
|
|
|
|
|||
(3) Severance and retention included in above line items: |
|
|
|
|
|
|
|
|
|
|||
Cost of revenue, excluding depreciation and amortization of intangible assets |
|
$ |
209 |
|
|
$ |
- |
|
|
$ |
263 |
|
Research and development |
|
$ |
138 |
|
|
$ |
2,009 |
|
|
$ |
1,554 |
|
Selling, general and administrative |
|
$ |
578 |
|
|
$ |
291 |
|
|
$ |
2,049 |
|
|
|
|
|
|
|
|
|
|
|
|||
(4) The provision for income taxes is adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments |
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|||
Net income per share attributable to the Company: |
|
|
|
|
|
|
|
|
|
|||
|
|
Three Months Ended |
|
|
Year Ended |
|
||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
GAAP net loss per share attributable to the Company |
|
$ |
(0.57 |
) |
|
$ |
(7.06 |
) |
|
$ |
(3.18 |
) |
|
|
|
|
|
|
|
|
|
|
|||
Adjustments to GAAP loss per share attributable to the Company: |
|
|
|
|
|
|
|
|
|
|||
Stock-based compensation |
|
|
0.41 |
|
|
|
0.37 |
|
|
|
1.62 |
|
Amortization of intangible assets |
|
|
0.31 |
|
|
|
0.38 |
|
|
|
1.34 |
|
|
|
|
- |
|
|
|
5.96 |
|
|
|
- |
|
Impairment of long-lived assets |
|
|
0.01 |
|
|
|
0.18 |
|
|
|
0.04 |
|
Transaction, separation, integration and restructuring related costs |
|
|
0.12 |
|
|
|
0.11 |
|
|
|
0.27 |
|
Non-GAAP tax adjustment |
|
|
(0.15 |
) |
|
|
0.15 |
|
|
|
(0.08 |
) |
Difference in shares used in the calculation |
|
|
(0.02 |
) |
|
|
(0.01 |
) |
|
|
- |
|
Non-GAAP net income per share attributable to the Company |
|
$ |
0.11 |
|
|
$ |
0.08 |
|
|
$ |
0.01 |
|
|
|
|
|
|
|
|
|
|
|
|||
GAAP weighted average number of shares - diluted |
|
|
43,717 |
|
|
|
42,043 |
|
|
|
43,012 |
|
Non-GAAP weighted average number of shares - diluted |
|
|
50,863 |
|
|
|
46,470 |
|
|
|
49,633 |
|
GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) |
|||||||||||||
|
Three Months Ended
|
|
Year Ended |
||||||||||
|
2023 |
|
2022 |
|
2023 |
||||||||
GAAP operating loss |
$ |
(29,803 |
) |
$ |
(299,073 |
) |
$ |
(129,637 |
) |
||||
Adjustments to GAAP operating loss: |
|
|
|
|
|
||||||||
Stock-based compensation |
|
17,850 |
|
|
15,542 |
|
|
69,531 |
|
||||
Amortization of intangible assets |
|
13,403 |
|
|
16,044 |
|
|
57,752 |
|
||||
|
|
— |
|
|
250,555 |
|
|
— |
|
||||
Impairment of long-lived assets |
|
614 |
|
|
7,724 |
|
|
1,710 |
|
||||
Transaction, separation, integration and restructuring related costs: |
|
|
|
|
|
||||||||
Transaction, separation, integration and restructuring costs |
|
4,145 |
|
|
2,234 |
|
|
7,954 |
|
||||
Severance and retention |
|
925 |
|
|
2,300 |
|
|
3,866 |
|
||||
Non-GAAP operating income/(loss) |
$ |
7,134 |
|
$ |
(4,674 |
) |
$ |
11,176 |
|
||||
GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) |
||||||||||||
|
|
Three Months Ended
|
|
|
Year Ended |
|
||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|||
GAAP net loss |
|
$ |
(25,313 |
) |
|
$ |
(298,046 |
) |
|
$ |
(139,688 |
) |
Adjustments to GAAP net loss: |
|
|
|
|
|
|
|
|
|
|||
Interest expense |
|
|
767 |
|
|
|
839 |
|
|
|
3,104 |
|
(Benefit from) provision for income taxes |
|
|
(4,439 |
) |
|
|
1,090 |
|
|
|
10,042 |
|
Stock-based compensation |
|
|
17,850 |
|
|
|
15,542 |
|
|
|
69,531 |
|
Depreciation expense |
|
|
4,102 |
|
|
|
4,804 |
|
|
|
16,645 |
|
Amortization of intangible assets |
|
|
13,403 |
|
|
|
16,044 |
|
|
|
57,752 |
|
Amortization of capitalized cloud computing costs |
|
|
1,339 |
|
|
|
527 |
|
|
|
3,756 |
|
|
|
|
— |
|
|
|
250,555 |
|
|
|
— |
|
Impairment of long-lived assets |
|
|
614 |
|
|
|
7,724 |
|
|
|
1,710 |
|
Transaction, separation, integration and restructuring related costs: |
|
|
|
|
|
|
|
|
|
|||
Transaction, separation, integration and restructuring costs |
|
|
4,145 |
|
|
|
2,234 |
|
|
|
7,954 |
|
Severance and retention |
|
|
925 |
|
|
|
2,300 |
|
|
|
3,866 |
|
Non-GAAP adjusted EBITDA |
|
$ |
13,393 |
|
|
$ |
3,613 |
|
|
$ |
34,672 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240228094628/en/
Xperi Investor Contact:
VP, Investor Relations
+1 408-321-3827
ir@xperi.com
Media Contact:
Senior Director, Corporate Communications
+1 949-518-6846
amy.brennan@xperi.com
Source: