Xperi Stock Price, News & Analysis

Xperi Holding Corporation (NASDAQ: XPER) has announced the formal approval of its separation into two independent public companies. The product business will operate as Xperi Inc., trading on the New York Stock Exchange under the symbol 'XPER'. Meanwhile, the remaining IP licensing business will be named Adeia Inc., trading on Nasdaq as 'ADEA'. This tax-free distribution of shares is set to benefit existing shareholders, who will automatically receive shares in the new entity without needing to take action.

Xperi Holding Corporation (NASDAQ: XPER) announced its second quarter financial results for 2022, reporting revenues of $234 million, a 5% increase from the previous year. The company signed key agreements, including a long-term renewal with a major consumer electronics provider and its first TV customer for TiVo OS. Xperi acquired Vewd, enhancing its streaming media platform with access to 15 million devices. Despite this growth, the company expects increased operating expenses and has adjusted its full-year financial outlook.

Xperi Holding Corporation (NASDAQ: XPER) announced the appointment of Keith Jones as CFO of Adeia, its intellectual property (IP) business, effective August 8, 2022. Jones joins from Rambus (NASDAQ: RMBS), where he served in various finance roles, including Interim CFO. His leadership experience in IP licensing and public companies is seen as a strategic fit for Adeia as it prepares for its upcoming separation and public listing. Paul Davis, President of Adeia, expressed confidence in Jones's ability to enhance the company's market position.

Xperi Holding Corporation (NASDAQ: XPER) will release its financial results for Q2 2022 on August 8, 2022, after market close. An earnings conference call will follow at 2 PM PT (5 PM ET). Callers in the U.S. can dial 888-394-8218, while international participants should use +1 646-828-8193 with Conference ID: 9128537. Xperi specializes in technologies that enhance entertainment and smart devices, delivering solutions across billions of consumer devices globally.

Xperi Holding Corporation (NASDAQ: XPER) has acquired Vewd Software Holdings Limited for $109 million in cash and debt. This acquisition positions Xperi as a leading independent streaming media platform through its TiVo brand. Vewd, known for its OTT and hybrid TV solutions, ships products to over 30 million connected TV devices annually. The deal includes access to 15 million European devices, enabling monetization opportunities via TiVo+. Xperi expects an additional $10 million in revenue in H2 2022 and significant growth in 2023.

Xperi Holding Corporation (NASDAQ: XPER) has raised its 2022 revenue and operating cash flow guidance by $10 million, primarily due to resolving a contract dispute with a significant customer. The updated revenue range is now between $920 million and $960 million, up from the previous $910 million to $950 million. Operating cash flow guidance has also been adjusted to $210 million to $240 million, previously $200 million to $230 million. The settlement provides an upfront payment and future licensing fees, enhancing Xperi's financial outlook amid market challenges.

Adeia, the IP licensing brand of Xperi (NASDAQ: XPER), announced a ruling from the Federal Court of Canada favoring Videotron, deeming four patents invalid. Despite this unfavorable decision, Adeia maintains that it has no impact on its 2022 financial guidance, and the company is considering an appeal. The patents in question constitute a small segment of Adeia's portfolio of nearly 10,000 patents. The company remains optimistic about ongoing licensing efforts across the industry, including a continuing lawsuit against Videotron regarding other patents.

Xperi Holding Corporation (NASDAQ: XPER) has appointed Paul E. Davis as the Chief Executive Officer of Adeia, the company's intellectual property business, effective upon its separation as a standalone entity later this fall. Mr. Davis, who has served as Chief Legal Officer, will continue in this role prior to the split. The Board of Directors expressed strong confidence in his leadership for Adeia's future. Mr. Davis aims to enhance Adeia's position as a leader in IP licensing through innovation and expansion post-separation.

Xperi Holding Corporation (NASDAQ: XPER) will participate in the 19th Annual Craig-Hallum Institutional Investor Conference on June 1, 2022. CEO Jon Kirchner and CFO Robert Andersen will be available for investor meetings, including one-on-one sessions. Xperi is known for developing technologies that enhance entertainment experiences, with its brands such as Adeia, DTS, HD Radio, IMAX Enhanced, and TiVo integrated into billions of devices worldwide. This participation signifies Xperi's commitment to maintaining investor relations and showcasing its innovative offerings.