Adeia (NASDAQ: ADEA) grows Q1 profit, lands AMD and Microsoft deals
Rhea-AI Filing Summary
Adeia Inc. reported strong first quarter 2026 results, with revenue of $104.8 million and GAAP net income of $22.8 million, up from $11.8 million a year earlier. GAAP diluted EPS was $0.20 and non-GAAP diluted EPS was $0.38. Adjusted EBITDA reached $62.3 million, representing a 60% margin, and cash flow from operations was $58.5 million.
The company signed eight license deals in the quarter, including new multi-year agreements with AMD and Microsoft, and in early Q2 added L’Oréal as a new media portfolio customer. Adeia continued shifting its mix, with non–Pay-TV recurring revenue growing 28% year over year. It paid down $28.1 million of term debt, reducing the balance to $398.6 million, repurchased $10.0 million of stock, and paid a $0.05 per-share dividend while declaring another $0.05 dividend. Management reiterated full-year 2026 guidance, including revenue of $395–$435 million and non-GAAP net income of $144.2–$168.7 million.
Positive
- Strong Q1 growth and profitability: Revenue rose to $104.8 million from $87.7 million year over year, GAAP net income nearly doubled to $22.8 million, and adjusted EBITDA reached $62.3 million with a 60% margin.
- High-quality new licensing wins: Signed multi-year agreements with AMD and Microsoft, plus an early Q2 deal with L’Oréal, broadening exposure in semiconductors, consumer electronics, social media and e-commerce.
- Healthy cash generation and de-leveraging: Generated $58.5 million in operating cash flow, reduced term debt by $28.1 million to $398.6 million, and still returned capital through $10.0 million in buybacks and $0.05 per-share dividends.
- Reiterated full-year 2026 outlook: Maintained guidance for revenue of $395–$435 million, non-GAAP net income of $144.2–$168.7 million, and adjusted EBITDA of $213.4–$245.4 million, signaling management confidence in the trajectory.
Negative
- None.
Insights
Q1 showed solid growth, strong cash generation, new blue-chip licenses and reaffirmed guidance.
Adeia delivered Q1 2026 revenue of $104.8 million, up from $87.7 million a year earlier, with GAAP net income rising to $22.8 million. Adjusted EBITDA was $62.3 million, a 60% margin, and operating cash flow reached $58.5 million, highlighting strong monetization of its IP portfolio.
The company executed eight license agreements, including multi-year deals with AMD and Microsoft, and added L’Oréal in early Q2. Non–Pay-TV recurring revenue grew 28% year over year, showing progress diversifying beyond legacy Pay-TV into semiconductors, consumer electronics, social media and e-commerce.
Capital deployment remained active: Adeia paid down $28.1 million of term debt to $398.6 million, repurchased $10.0 million of stock, and paid a $0.05 dividend while declaring another. Management reiterated 2026 guidance, including revenue of $395–$435 million and adjusted EBITDA of $213.4–$245.4 million, indicating confidence in the current outlook based on disclosed assumptions.
8-K Event Classification
Key Figures
Key Terms
adjusted EBITDA financial
stock-based compensation expense financial
unbilled contracts receivable financial
forward-looking statements regulatory
Earnings Snapshot
For full-year 2026, Adeia guided to revenue of $395.0–$435.0 million, GAAP net income of $57.2–$80.4 million, non-GAAP net income of $144.2–$168.7 million, and adjusted EBITDA of $213.4–$245.4 million.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
(Exact name of Registrant as Specified in its Charter)
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(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
(Address of Principal Executive Offices, including Zip Code)
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(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 4, 2026, Adeia Inc. (the “Company” or “Adeia”) announced its financial results for the first quarter ended March 31, 2026. A copy of the Company’s press release announcing these financial results and other information regarding its financial condition is attached hereto as Exhibit 99.1 to this Form 8-K.
The information in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Description |
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99.1 |
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Press Release dated May 4, 2026 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 4, 2026 |
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ADEIA INC. |
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By: |
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/s/ Keith A. Jones |
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Name: |
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Keith A. Jones |
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Title: |
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Chief Financial Officer |
Exhibit 99.1 FOR IMMEDIATE RELEASE |
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ADEIA ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS
Signed new license agreements with AMD and Microsoft
Generated $58 million in cash from operations and achieved 60% adjusted EBITDA margin
Paid down debt by $28 million bringing our outstanding balance to less than $400 million
SAN JOSE, Calif. – May 4, 2026 – Adeia Inc. (Nasdaq: ADEA) (the “Company” or “Adeia”) today announced financial results for the first quarter ended March 31, 2026.
“We had a strong start to 2026, delivering first quarter revenue of $105 million, generating $58 million in operating cash flow, and maintaining strong profitability with a 60% adjusted EBITDA margin,” said Paul E. Davis, chief executive officer of Adeia. “We closed eight license agreements during the quarter, three of which were with new customers, including multi-year agreements with AMD and Microsoft. We believe our deal execution year-to-date highlights both the strength of our IP portfolio in our core markets, like Pay-TV, consumer electronics and social media, and our ability to expand our business with new customers in growth markets like semiconductors and e-commerce. Our non–Pay-TV recurring revenue continued to grow, with an impressive 28% year-over-year increase in the quarter, reflecting progress in diversifying our business. We are excited to see our foundational innovations gaining broad market adoption. Most importantly, hybrid bonding is rapidly being designed into products for the logic and memory markets that are supporting the AI ecosystem. We also remained disciplined in our capital allocation, reducing debt to less than $400 million while continuing to return capital to shareholders and invest in our patent portfolios, including tuck-in acquisitions.”
First Quarter Financial Highlights
Business Highlights
Capital Allocation
During the quarter, the Company made $28.1 million in principal payments towards its term loan, bringing the outstanding balance to $398.6 million as of March 31, 2026.
During the quarter, the Company repurchased $10.0 million of its common stock, representing 0.4 million shares and bringing the remaining amount available under its stock repurchase plan to $150.0 million as of March 31, 2026.
On March 30, 2026, the Company distributed $5.5 million to stockholders of record on March 16, 2026, for a quarterly cash dividend of $0.05 per share of common stock.
The Board of Directors declared a dividend of $0.05 per share, payable on June 15, 2026, to stockholders of record on May 26, 2026.
Financial Outlook
The Company is reiterating its full year 2026 outlook as follows:
Category |
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2026 |
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2026 |
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Revenue |
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$395.0 − 435.0 |
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$395.0 − 435.0 |
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Operating expenses (1) |
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$295.0 − 305.0 |
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$184.0 − 192.0 |
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Interest expense |
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$34.0 − 36.0 |
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$34.0 − 36.0 |
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Other income |
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$5.5 − 6.5 |
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$5.5 − 6.5 |
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Tax rate |
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20% |
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21% |
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Net income (2) |
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$57.2 − 80.4 |
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$144.2 − 168.7 |
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Adjusted EBITDA (2) |
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N/A |
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$213.4 − 245.4 |
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Diluted shares outstanding |
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114.0 − 115.0 |
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114.0 − 115.0 |
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(1) See tables for reconciliation of GAAP to non-GAAP operating expenses.
(2) See tables for reconciliation of GAAP net income to (i) non-GAAP net income and (ii) adjusted earnings before interest expense, income taxes, depreciation and amortization (adjusted EBITDA).
Conference Call Information
The Company will hold its first quarter 2026 earnings conference call at 2:00 PM Pacific Time (5:00 PM Eastern Time) on Monday, May 4, 2026. To access the call in the U.S., please dial +1 (888) 660-6411, and for international callers, dial +1 (929) 203-0849. All participants should dial in 15 minutes prior to the start of the conference call. The Company also suggests utilizing the webcast link to access the live call and the replay at Q1 2026 Earnings Call Webcast. A live and replay webcast will be available on the Adeia Investor Relations website at https://investors.adeia.com.
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 this context, forward-looking statements often address expected future business, financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond the Company’s control, and are not guarantees of future results.
Forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: the Company’s ability to implement its business strategy; the Company’s ability to enter into new and renewal license agreements with customers on favorable terms; the Company’s ability to retain and hire key personnel; uncertainty as to the long-term value of the Company’s common stock; legislative, regulatory and economic developments affecting the Company’s business; general economic and market developments and conditions; the Company’s ability to grow and expand its patent portfolios; changes in technology and development of new technology in the industries in which in which the Company operates; the evolving legal, regulatory and tax regimes under which the Company operates; unforeseen liabilities and expenses; risks associated with the Company’s indebtedness; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, natural disasters and global health pandemics, each of which may have an adverse impact on the Company’s business, results of operations, and financial condition. These risks, as well as other risks associated with the Company’s business, are more fully discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. While the list of factors presented here is, and the list of factors presented in the Company’s filings with the SEC are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.
Causes of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, failure to complete licensing arrangements on anticipated terms and timeline, failure to prevail in litigation we may bring against third parties, financial loss, legal liability to third parties and similar risks, and failure to attract or retain employees, any of which could have a material adverse effect on the Company’s consolidated financial condition, results of operations, liquidity or trading price of common stock. The Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
About Adeia Inc.
Adeia is a leading R&D and intellectual property (IP) licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia’s fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia’s IP portfolios power the connected devices that touch the lives of millions of people around the world every day as they live, work and play. For more, please visit www.adeia.com.
Non-GAAP Financial Measures
In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company’s earnings release contains non-GAAP financial measures adjusted, where applicable, for either one-time or ongoing non-cash acquired intangibles amortization charges, costs related to actual or planned business combinations including transaction fees, integration costs, severance, facility closures, and retention bonuses, separation costs, all forms of stock-based compensation, loss on debt extinguishment, expensed debt refinancing costs, impairment of intangible assets, impact of certain foreign currency adjustments, discontinued operations and related tax effects. In addition, adjusted EBITDA adjusts for recurring charges of interest expense, income taxes, depreciation and amortization. Management believes that the non-GAAP measures used in this release provide investors with important perspectives on the Company’s ongoing business and financial performance and are helpful to provide investors with an understanding of our core operating results reflecting our normal business operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, the terms used in this press release, such as EBITDA margin, which is defined as EBITDA as a percentage of revenue, adjusted EBITDA, non-GAAP operating expenses, non-GAAP net income and non-GAAP diluted earnings per share (EPS) do not have a standardized meaning. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures in the tables attached hereto. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. All financial data is presented on a GAAP basis except where the Company indicates its presentation is on a non-GAAP basis.
Set forth below are reconciliations of the Company’s reported and forecasted GAAP to non-GAAP financial metrics.
Investor Contact:
Chris Chaney
Vice President, Investor Relations
IR@adeia.com
– Tables Follow –
SOURCE: ADEIA INC.
ADEA
ADEIA INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
(unaudited)
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Three Months Ended |
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March 31, |
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March 31, |
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Revenue |
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$ |
104,772 |
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$ |
87,670 |
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Operating expenses: |
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Research and development |
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18,202 |
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16,467 |
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Selling, general and administrative |
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29,834 |
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28,432 |
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Amortization expense |
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15,931 |
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14,082 |
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Litigation expense |
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5,973 |
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5,854 |
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Total operating expenses |
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69,940 |
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64,835 |
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Operating income |
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34,832 |
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22,835 |
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Interest expense |
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(8,546 |
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(10,649 |
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Other income and expense, net |
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1,693 |
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1,712 |
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Income before income taxes |
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27,979 |
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13,898 |
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Provision for income taxes |
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5,206 |
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2,084 |
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Net income |
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$ |
22,773 |
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$ |
11,814 |
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Net income per share: |
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Basic |
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$ |
0.21 |
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$ |
0.11 |
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Diluted |
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$ |
0.20 |
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$ |
0.10 |
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Weighted average number of shares used in per share calculations: |
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Basic |
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109,503 |
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107,948 |
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Diluted |
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114,203 |
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113,021 |
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ADEIA INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
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March 31, |
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December 31, |
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2026 |
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2025 |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
53,325 |
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$ |
73,136 |
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Marketable securities |
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62,437 |
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63,597 |
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Total cash, cash equivalents, and marketable securities |
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115,762 |
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136,733 |
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Accounts receivable, net |
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32,588 |
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28,631 |
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Unbilled contracts receivable |
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124,419 |
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129,829 |
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Other current assets |
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8,554 |
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8,765 |
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Total current assets |
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281,323 |
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303,958 |
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Long-term unbilled contracts receivable |
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43,472 |
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49,499 |
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Property and equipment, net |
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6,094 |
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6,113 |
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Operating lease right-of-use assets |
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7,887 |
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8,177 |
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Intangible assets, net |
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293,500 |
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303,456 |
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Goodwill |
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313,660 |
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313,660 |
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Other long-term assets |
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56,454 |
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54,440 |
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Total assets |
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$ |
1,002,390 |
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$ |
1,039,303 |
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LIABILITIES AND EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
5,809 |
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$ |
4,827 |
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Accrued liabilities |
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21,097 |
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34,250 |
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Current portion of long-term debt, net |
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20,988 |
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20,975 |
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Deferred revenue |
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33,781 |
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19,726 |
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Total current liabilities |
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81,675 |
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79,778 |
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Deferred revenue, less current portion |
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52,201 |
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49,975 |
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Long-term debt, net |
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370,276 |
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397,479 |
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Noncurrent operating lease liabilities |
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8,530 |
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8,734 |
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Long-term income tax payable |
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7,620 |
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7,273 |
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Other long-term liabilities |
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15,521 |
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15,523 |
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Total liabilities |
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535,823 |
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558,762 |
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Commitments and contingencies |
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Stockholders’ equity: |
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Preferred stock |
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— |
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— |
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Common stock |
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131 |
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128 |
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Additional paid-in capital |
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694,748 |
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685,992 |
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Treasury stock at cost |
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(337,565 |
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(297,778 |
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Accumulated other comprehensive income (loss) |
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(124 |
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60 |
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Retained earnings |
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109,377 |
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92,139 |
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Total stockholders’ equity |
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466,567 |
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480,541 |
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Total liabilities and stockholders’ equity |
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$ |
1,002,390 |
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$ |
1,039,303 |
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ADEIA INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
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Three Months Ended |
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March 31, |
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March 31, |
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Cash flows from operating activities: |
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Net income |
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$ |
22,773 |
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$ |
11,814 |
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Adjustments to reconcile net income to net cash from operating activities: |
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Depreciation of property and equipment |
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492 |
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509 |
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Amortization of intangible assets |
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15,931 |
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14,082 |
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Stock-based compensation expense |
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8,756 |
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8,244 |
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Deferred income tax and other |
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(2,154 |
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(4,043 |
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Amortization of debt issuance costs |
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899 |
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821 |
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Other |
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(42 |
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(116 |
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Changes in operating assets and liabilities: |
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Accounts receivable |
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(3,957 |
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5,689 |
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Unbilled contracts receivable |
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11,437 |
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7,969 |
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Other assets |
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641 |
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(2,375 |
) |
Accounts payable |
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443 |
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(2,216 |
) |
Accrued and other liabilities |
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(13,012 |
) |
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(8,106 |
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Deferred revenue |
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16,281 |
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24,867 |
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Net cash provided by operating activities |
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58,488 |
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57,139 |
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Cash flows from investing activities: |
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Purchases of property and equipment |
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(434 |
) |
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(228 |
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Purchases of intangible assets |
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(5,475 |
) |
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(5,350 |
) |
Purchases of short-term investments |
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(9,029 |
) |
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(7,194 |
) |
Proceeds from maturities of investments |
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10,050 |
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6,600 |
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Net cash used in investing activities |
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(4,888 |
) |
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(6,172 |
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Cash flows from financing activities: |
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Principal payments on debt agreements |
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(28,089 |
) |
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(17,089 |
) |
Payments of dividends |
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(5,535 |
) |
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(5,422 |
) |
Proceeds from employee stock purchase program and exercise of stock options |
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— |
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186 |
|
Repurchases of common stock |
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(10,006 |
) |
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(11,326 |
) |
Repurchases of common stock for tax withholdings on equity awards |
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(29,781 |
) |
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(11,957 |
) |
Net cash used in financing activities |
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(73,411 |
) |
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(45,608 |
) |
Net increase in cash and cash equivalents |
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(19,811 |
) |
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5,359 |
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Cash and cash equivalents at beginning of period |
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73,136 |
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|
78,825 |
|
Cash and cash equivalents at end of period |
|
$ |
53,325 |
|
|
$ |
84,184 |
|
ADEIA INC.
GAAP TO NON-GAAP RECONCILIATIONS
(in thousands, except per share amounts)
(unaudited)
Net income |
|
|
|
|
|
|
||
|
|
Three Months Ended |
|
|||||
|
|
March 31, |
|
|
March 31, |
|
||
GAAP net income |
|
$ |
22,773 |
|
|
$ |
11,814 |
|
|
|
|
|
|
|
|
||
Adjustments to GAAP net income: |
|
|
|
|
|
|
||
Stock-based compensation expense: |
|
|
|
|
|
|
||
Research and development |
|
|
1,742 |
|
|
|
1,234 |
|
Selling, general and administrative |
|
|
7,014 |
|
|
|
7,010 |
|
Amortization expense |
|
|
15,931 |
|
|
|
14,082 |
|
Transaction costs recorded in selling, general and administrative |
|
|
— |
|
|
|
1,111 |
|
Separation and other related costs recorded in selling, general and administrative (1) |
|
|
2,330 |
|
|
|
531 |
|
Total operating expenses adjustments |
|
|
27,017 |
|
|
|
23,968 |
|
Non-GAAP tax adjustment (2) |
|
|
(6,343 |
) |
|
|
(6,625 |
) |
Non-GAAP net income |
|
$ |
43,447 |
|
|
$ |
29,157 |
|
|
|
|
|
|
|
|
||
Diluted earnings per share |
|
|
|
|
|
|
||
|
|
Three Months Ended |
|
|||||
|
|
March 31, |
|
|
March 31, |
|
||
GAAP diluted earnings per share |
|
$ |
0.20 |
|
|
$ |
0.10 |
|
|
|
|
|
|
|
|
||
Adjustments to GAAP diluted earnings per share: |
|
|
|
|
|
|
||
Stock-based compensation expense: |
|
|
|
|
|
|
||
Research and development |
|
|
0.02 |
|
|
|
0.01 |
|
Selling, general and administrative |
|
|
0.06 |
|
|
|
0.06 |
|
Amortization expense |
|
|
0.14 |
|
|
|
0.12 |
|
Transaction costs recorded in selling, general and administrative |
|
|
— |
|
|
|
0.01 |
|
Separation and other related costs recorded in selling, general and administrative (1) |
|
|
0.02 |
|
|
|
0.01 |
|
Total operating expenses adjustments |
|
|
0.24 |
|
|
|
0.21 |
|
Non-GAAP tax adjustment (2) |
|
|
(0.06 |
) |
|
|
(0.05 |
) |
Non-GAAP diluted earnings per share |
|
$ |
0.38 |
|
|
$ |
0.26 |
|
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
(2) The provision for income taxes is adjusted to reflect the net income tax effects of the various non-GAAP pretax adjustments.
ADEIA INC.
GAAP NET INCOME TO
ADJUSTED EBITDA RECONCILIATION
(in thousands)
(unaudited)
|
|
Three Months Ended |
|
|||||
|
|
March 31, |
|
|
March 31, |
|
||
GAAP net income |
|
$ |
22,773 |
|
|
$ |
11,814 |
|
|
|
|
|
|
|
|
||
Adjustments to GAAP net income: |
|
|
|
|
|
|
||
Stock-based compensation expense: |
|
|
|
|
|
|
||
Research and development |
|
|
1,742 |
|
|
|
1,234 |
|
Selling, general and administrative |
|
|
7,014 |
|
|
|
7,010 |
|
Transaction costs recorded in selling, general and administrative |
|
|
— |
|
|
|
1,111 |
|
Separation and other related costs recorded in selling, general and administrative (1) |
|
|
2,330 |
|
|
|
531 |
|
Amortization expense |
|
|
15,931 |
|
|
|
14,082 |
|
Depreciation expense |
|
|
492 |
|
|
|
509 |
|
Interest expense |
|
|
8,546 |
|
|
|
10,649 |
|
Other income and expense, net |
|
|
(1,693 |
) |
|
|
(1,712 |
) |
Provision for income taxes |
|
|
5,206 |
|
|
|
2,084 |
|
Adjusted EBITDA |
|
$ |
62,341 |
|
|
$ |
47,312 |
|
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
ADEIA INC.
RECONCILIATION FOR GUIDANCE
ON OPERATING EXPENSES
(in millions)
(unaudited)
|
Year Ended |
|
|||||
|
December 31, 2026 |
|
|||||
|
Low |
|
|
High |
|
||
GAAP operating expenses |
$ |
295.0 |
|
|
$ |
305.0 |
|
Amortization expense |
|
64.0 |
|
|
|
65.0 |
|
Stock-based compensation expense |
|
39.0 |
|
|
|
40.0 |
|
Separation and related costs (1) |
|
8.0 |
|
|
|
8.0 |
|
Total of non-GAAP adjustments |
|
111.0 |
|
|
|
113.0 |
|
Non-GAAP operating expenses |
$ |
184.0 |
|
|
$ |
192.0 |
|
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
ADEIA INC.
RECONCILIATION FOR GUIDANCE
ON NET INCOME
(in millions)
(unaudited)
|
Year Ended |
|
|||||
|
December 31, 2026 |
|
|||||
|
Low |
|
|
High |
|
||
GAAP net income |
$ |
57.2 |
|
|
$ |
80.4 |
|
Amortization expense |
|
64.0 |
|
|
|
65.0 |
|
Stock-based compensation expense |
|
39.0 |
|
|
|
40.0 |
|
Separation and related costs (1) |
|
8.0 |
|
|
|
8.0 |
|
Total of non-GAAP operating expenses |
|
111.0 |
|
|
|
113.0 |
|
Non-GAAP tax adjustment (2) |
|
(24.0 |
) |
|
|
(24.7 |
) |
Non-GAAP net income |
$ |
144.2 |
|
|
$ |
168.7 |
|
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
(2) The provision for income taxes is adjusted to reflect the net income tax effects of the various non-GAAP pretax adjustments.
ADEIA INC.
RECONCILIATION FOR GUIDANCE ON
ADJUSTED EBITDA
(in millions)
(unaudited)
|
Year Ended |
|
|||||
|
December 31, 2026 |
|
|||||
|
Low |
|
|
High |
|
||
GAAP net income |
$ |
57.2 |
|
|
$ |
80.4 |
|
Stock-based compensation expense |
|
39.0 |
|
|
|
40.0 |
|
Separation and related costs (1) |
|
8.0 |
|
|
|
8.0 |
|
Amortization expense |
|
64.0 |
|
|
|
65.0 |
|
Depreciation expense |
|
2.4 |
|
|
|
2.4 |
|
Interest expense |
|
34.0 |
|
|
|
36.0 |
|
Other income |
|
(5.5 |
) |
|
|
(6.5 |
) |
Income tax expense |
|
14.3 |
|
|
|
20.1 |
|
Total of non-GAAP adjustments |
|
156.2 |
|
|
|
165.0 |
|
Adjusted EBITDA |
$ |
213.4 |
|
|
$ |
245.4 |
|
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.