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Xperi Financials

XPER
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Xperi (XPER) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI XPER FY2025

High-margin revenue is being reshaped by cost cuts, bringing Xperi close to cash breakeven despite still-negative earnings.

From FY2023 to FY2025, revenue fell from $521.3M to $448.1M while EBITDA turned positive. Paired with operating cash flow moving from about $0 to just -$515K, that points to overhead control as the key lever against a still-large gross-profit base, not sales volume alone.

The unusual feature is gross margin staying above 70.0% even after the FY2025 revenue drop, which says the underlying economics remain strong at the gross-profit line. The drag is a fixed operating-cost structure: R&D plus SG&A still absorbed about $317M, leaving little room for operating profit when sales soften.

Balance-sheet pressure is not debt-led: cash of $96.8M still exceeded long-term debt of $40.0M. That makes cash replenishment, not deleveraging, the main financing task, especially after cash stepped down from $130.6M in FY2024; losses have mostly reduced equity rather than being funded with new borrowing.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Cash Runway Dilution R&D Intensity Revenue Progress Burn Trend Balance Sheet 53 / 100
Financial Health Score 53/100
Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Xperi's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway
100
Dilution
62
R&D Intensity
61
Revenue Progress
37
Balance Sheet
57
Altman Z-Score Distress
-0.08

Xperi scores -0.08, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($389.1M) relative to total liabilities ($201.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak
2/9

Xperi passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality
0.01x

For every $1 of reported earnings, Xperi generates $0.01 in operating cash flow (-$515K OCF vs -$56.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-14.7x

Xperi earns $-14.7 in operating income for every $1 of interest expense (-$43.7M vs $3.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$448.1M
YoY-9.2%
5Y CAGR+3.6%

Xperi generated $448.1M in revenue in fiscal year 2025. This represents a decrease of 9.2% from the prior year.

EBITDA
$4.5M
YoY+114.6%

Xperi's EBITDA was $4.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 114.6% from the prior year.

Net Income
-$56.3M
YoY-302.2%

Xperi reported -$56.3M in net income in fiscal year 2025. This represents a decrease of 302.2% from the prior year.

EPS (Diluted)
$-1.23
YoY-296.8%

Xperi earned $-1.23 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 296.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$5.9M
YoY+90.2%

Xperi generated -$5.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 90.2% from the prior year.

Cash & Debt
$96.8M
YoY-25.8%
5Y CAGR+2.5%

Xperi held $96.8M in cash against $40.0M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
47M
YoY+5.7%

Xperi had 47M shares outstanding in fiscal year 2025. This represents an increase of 5.7% from the prior year.

Margins & Returns

Gross Margin
71.7%
YoY-5.2pp
5Y CAGR-7.6pp

Xperi's gross margin was 71.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.2 percentage points from the prior year.

Operating Margin
-9.8%
YoY+7.9pp
5Y CAGR+30.8pp

Xperi's operating margin was -9.8% in fiscal year 2025, reflecting core business profitability. This is up 7.9 percentage points from the prior year.

Net Margin
-12.6%
YoY-9.7pp
5Y CAGR+24.2pp

Xperi's net profit margin was -12.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 9.7 percentage points from the prior year.

Return on Equity
-13.6%
YoY-10.4pp
5Y CAGR-0.8pp

Xperi's ROE was -13.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.4 percentage points from the prior year.

Capital Allocation

R&D Spending
$135.1M
YoY-29.4%
5Y CAGR-3.7%

Xperi invested $135.1M in research and development in fiscal year 2025. This represents a decrease of 29.4% from the prior year.

Share Buybacks
$0
YoY-100.0%

Xperi spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures
$5.4M
YoY+6.8%
5Y CAGR-4.0%

Xperi invested $5.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 6.8% from the prior year.

XPER Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $114.2M-2.0% $116.5M+4.4% $111.6M+5.4% $105.9M-7.1% $114.0M-6.8% $122.4M-7.9% $132.9M+11.1% $119.6M
Cost of Revenue $30.9M-10.3% $34.4M+18.4% $29.1M-13.3% $33.5M+13.3% $29.6M+7.4% $27.6M+0.3% $27.5M-5.1% $29.0M
Gross Profit $83.3M+1.5% $82.1M-0.6% $82.6M+14.1% $72.4M-14.3% $84.4M-10.9% $94.8M-10.1% $105.4M+16.3% $90.6M
R&D Expenses $27.1M-24.3% $35.8M+19.6% $29.9M+0.5% $29.8M-24.7% $39.5M-6.2% $42.2M-21.4% $53.6M+18.8% $45.1M
SG&A Expenses $41.8M-15.6% $49.5M+16.4% $42.5M+3.4% $41.1M-15.5% $48.7M-6.7% $52.2M-7.6% $56.5M+6.4% $53.1M
Operating Income $2.2M+114.5% -$14.8M-986.3% -$1.4M+87.8% -$11.1M+32.3% -$16.4M-15.1% -$14.3M+23.0% -$18.6M+15.3% -$21.9M
Interest Expense $678K-6.7% $727K-4.5% $761K+0.3% $759K+3.7% $732K-3.2% $756K0.0% $756K+1.1% $748K
Income Tax $10.1M+262.4% $2.8M-41.9% $4.8M+3.6% $4.6M+32.9% $3.5M+187.5% -$4.0M-237.6% $2.9M-68.7% $9.3M
Net Income -$7.8M+54.2% -$17.1M-179.8% -$6.1M+58.7% -$14.8M+19.5% -$18.4M-139.7% $46.2M+375.0% -$16.8M+44.5% -$30.3M
EPS (Diluted) $-0.17 N/A $-0.13+59.4% $-0.32+22.0% $-0.41 N/A $-0.37+44.8% $-0.67

XPER Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $606.9M-1.4% $615.8M-2.1% $628.8M-0.1% $629.2M-0.7% $633.5M-5.1% $667.8M+8.4% $616.2M-0.5% $619.2M
Current Assets $260.9M-2.5% $267.5M-2.0% $273.1M-3.7% $283.7M+6.4% $266.7M-12.5% $304.9M+17.8% $258.8M-2.8% $266.4M
Cash & Equivalents $70.4M-27.3% $96.8M0.0% $96.8M+1.7% $95.1M+8.1% $88.0M-32.6% $130.6M+79.6% $72.7M-21.4% $92.5M
Inventory N/A $0 N/A $296K-52.4% $622K-41.4% $1.1M-74.5% $4.2M-17.5% $5.0M
Accounts Receivable $59.9M+5.4% $56.8M0.0% $56.8M-5.0% $59.8M+2.8% $58.2M-1.0% $58.7M-5.8% $62.4M+9.7% $56.9M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $198.9M-1.4% $201.8M-2.9% $207.8M-0.8% $209.4M-2.4% $214.6M-10.1% $238.7M-8.3% $260.3M+4.5% $249.2M
Current Liabilities $110.4M-0.3% $110.6M-2.1% $113.0M-0.3% $113.4M-3.7% $117.7M-36.5% $185.3M-7.9% $201.3M+51.9% $132.5M
Long-Term Debt $40.0M0.0% $40.0M0.0% $40.0M0.0% $40.0M0.0% $40.0M $0-100.0% $27.7M-44.6% $50.0M
Total Equity $408.0M-1.5% $414.1M-1.7% $421.0M+0.3% $419.8M+0.2% $418.9M-2.4% $429.1M+13.7% $377.4M-2.9% $388.7M
Retained Earnings -$903.6M-0.9% -$895.8M-1.9% -$878.7M-0.7% -$872.6M-1.7% -$857.8M-2.2% -$839.4M+4.1% -$875.7M-3.2% -$848.9M

XPER Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$18.0M-539.4% $4.1M-45.6% $7.5M-25.4% $10.1M+145.4% -$22.3M-1911.1% $1.2M+126.4% -$4.6M-117.8% -$2.1M
Capital Expenditures $1.1M-62.5% $2.9M+262.7% $812K+44.7% $561K-47.4% $1.1M-38.7% $1.7M+74.4% $997K+115.8% $462K
Free Cash Flow -$19.1M-1755.4% $1.2M-82.8% $6.7M-29.6% $9.5M+140.9% -$23.3M-4473.3% -$510K+91.0% -$5.6M-117.4% -$2.6M
Investing Cash Flow -$4.8M+24.2% -$6.4M-13.4% -$5.6M-17.6% -$4.8M-13.6% -$4.2M-106.6% $63.7M+1540.8% -$4.4M-18.5% -$3.7M
Financing Cash Flow -$3.6M-253.3% $2.3M+930.5% -$279K-115.2% $1.8M+111.4% -$16.1M-129.0% -$7.0M+34.4% -$10.7M-449.0% $3.1M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A $0 N/A N/A N/A $10.0M N/A N/A

XPER Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 73.0%+2.5pp 70.5%-3.5pp 74.0%+5.6pp 68.3%-5.7pp 74.0%-3.4pp 77.5%-1.8pp 79.3%+3.5pp 75.8%
Operating Margin 1.9%+14.6pp -12.7%-11.5pp -1.2%+9.3pp -10.5%+3.9pp -14.4%-2.7pp -11.7%+2.3pp -14.0%+4.4pp -18.3%
Net Margin -6.9%+7.8pp -14.7%-9.2pp -5.5%+8.5pp -14.0%+2.2pp -16.1%-53.9pp 37.8%+50.4pp -12.7%+12.7pp -25.3%
Return on Equity -1.9%+2.2pp -4.1%-2.7pp -1.5%+2.1pp -3.5%+0.9pp -4.4%-15.2pp 10.8%+15.2pp -4.5%+3.3pp -7.8%
Return on Assets -1.3%+1.5pp -2.8%-1.8pp -1.0%+1.4pp -2.4%+0.6pp -2.9%-9.8pp 6.9%+9.7pp -2.7%+2.2pp -4.9%
Current Ratio 2.36-0.1 2.420.0 2.42-0.1 2.50+0.2 2.27+0.6 1.64+0.4 1.29-0.7 2.01
Debt-to-Equity 0.100.0 0.100.0 0.100.0 0.100.0 0.10+0.1 0.00-0.1 0.07-0.1 0.13
FCF Margin -16.7%-17.7pp 1.0%-5.0pp 6.0%-3.0pp 9.0%+29.5pp -20.4%-20.0pp -0.4%+3.8pp -4.3%-2.1pp -2.2%

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Frequently Asked Questions

Xperi (XPER) reported $448.1M in total revenue for fiscal year 2025. This represents a -9.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Xperi (XPER) revenue declined by 9.2% year-over-year, from $493.7M to $448.1M in fiscal year 2025.

No, Xperi (XPER) reported a net income of -$56.3M in fiscal year 2025, with a net profit margin of -12.6%.

Xperi (XPER) reported diluted earnings per share of $-1.23 for fiscal year 2025. This represents a -296.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Xperi (XPER) had EBITDA of $4.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Xperi (XPER) had $96.8M in cash and equivalents against $40.0M in long-term debt.

Xperi (XPER) had a gross margin of 71.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Xperi (XPER) had an operating margin of -9.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Xperi (XPER) had a net profit margin of -12.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Xperi (XPER) has a return on equity of -13.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Xperi (XPER) generated -$5.9M in free cash flow during fiscal year 2025. This represents a 90.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Xperi (XPER) generated -$515K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Xperi (XPER) had $615.8M in total assets as of fiscal year 2025, including both current and long-term assets.

Xperi (XPER) invested $5.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Xperi (XPER) invested $135.1M in research and development during fiscal year 2025.

Xperi (XPER) had 47M shares outstanding as of fiscal year 2025.

Xperi (XPER) had a current ratio of 2.42 as of fiscal year 2025, which is generally considered healthy.

Xperi (XPER) had a debt-to-equity ratio of 0.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Xperi (XPER) had a return on assets of -9.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Xperi (XPER) had $96.8M in cash against an annual operating cash burn of $515K. This gives an estimated cash runway of approximately 2256 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Xperi (XPER) has an Altman Z-Score of -0.08, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Xperi (XPER) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Xperi (XPER) has an earnings quality ratio of 0.01x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Xperi (XPER) has an interest coverage ratio of -14.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Xperi (XPER) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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