Xperi (NYSE: XPER) grows platform metrics and boosts Q1 2026 profitability
Rhea-AI Filing Summary
Xperi Inc. reported first quarter 2026 revenue of $114.2 million, essentially flat versus $114.0 million a year earlier, but profitability improved sharply. GAAP operating results swung to $2.2 million of income from a $16.4 million loss, and the GAAP net loss narrowed to $7.8 million from $18.4 million.
On a non-GAAP basis, operating income rose to $19.1 million and net income to $11.0 million, with adjusted EBITDA of $25.3 million and a 22.1% margin, up from 14.4%. Media Platform revenue grew 45% year-over-year, AutoStage reached 16 million vehicles, TiVo One hit 5.5 million monthly active users, and the company reaffirmed its 2026 guidance.
Positive
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Negative
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Insights
Xperi shows stronger margins and platform traction while keeping 2026 targets.
Xperi delivered flat Q1 2026 revenue at $114.2M, but materially better profitability. GAAP operating income improved to $2.2M from a loss, and non-GAAP operating income nearly doubled to $19.1M, signaling tighter cost control and scale benefits.
Non-GAAP adjusted EBITDA increased to $25.3M, with margin rising to 22.1% from 14.4%. This improvement came alongside a 45% year-over-year jump in Media Platform revenue, 5.5 million TiVo One monthly active users, and TiVo One ARPU of $7.10, underscoring growing monetization of the user base.
The company reiterated its full-year 2026 outlook, including $440M–$470M revenue and 17%–19% adjusted EBITDA margin, suggesting confidence in its trajectory. However, operating cash flow was negative $18.0M in Q1, and free cash flow was negative, so future filings will clarify whether margin gains translate into sustained cash generation.
8-K Event Classification
Key Figures
Key Terms
Non-GAAP Adjusted EBITDA financial
Adjusted EBITDA Margin financial
Media Platform revenue financial
AutoStage footprint technical
TiVo One Monthly Active User technical
Free Cash Flow financial
Earnings Snapshot
Reiterated 2026 outlook for $440M–$470M revenue, 17%–19% adjusted EBITDA margin, $15M–$25M operating cash flow, and $15M–$20M capital expenditures.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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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 6, 2026, Xperi Inc. (the “Company”) 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 furnished as Exhibit 99.1 to this Form 8-K.
The information in this Item 2.02, 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 of that section, nor shall it be deemed 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 6, 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 6, 2026 |
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Xperi Inc. |
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By: |
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/s/ Robert Andersen |
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Name: |
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Robert Andersen |
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Title: |
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Chief Financial Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE |
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Xperi Inc. Announces First Quarter 2026 Results
Media Platform Revenue Rose 45 Percent Year-Over-Year Driven Primarily by Advertising Monetization
AutoStage Footprint Grew 45 Percent Year-Over-Year to Reach 16 Million Vehicles
Achieved 5.5 Million Monthly Active Users on the TiVo One Ad Platform
Company Reaffirms Annual Guidance
San Jose, Calif. (May 6, 2026) – Xperi Inc. (NYSE: XPER) (the “Company” or “Xperi”), a media and entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, today announced first quarter 2026 financial results for the period ended March 31, 2026.
“We are beginning to see the inflection in our monetization strategy as our Media Platform revenue grew 45% when compared to the first quarter of 2025. During the quarter, we made significant improvements to our ad products by enhancing targeting and measurement, further growing the TiVo One ad platform footprint, and expanding partnerships that, collectively, are expected to accelerate advertising monetization,” said Jon Kirchner, chief executive officer of Xperi. “The results of the quarter clearly demonstrate the progress we are making on our strategic growth plan. We remain on track for our 2026 goals and reaffirm our financial guidance for the year.”
Financial Highlights
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Q1 FY26 |
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Q1 FY25 |
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GAAP ($ millions, except per share data) |
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Revenue |
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$ |
114.2 |
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$ |
114.0 |
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GAAP operating income (loss) |
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$ |
2.2 |
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$ |
(16.4 |
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GAAP net loss |
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$ |
(7.8 |
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$ |
(18.4 |
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GAAP diluted net loss per share |
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$ |
(0.17 |
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$ |
(0.41 |
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Non-GAAP* ($ millions, except per share data) |
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Q1 FY26 |
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Q1 FY25 |
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Revenue |
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$ |
114.2 |
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$ |
114.0 |
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Non-GAAP operating income |
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$ |
19.1 |
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$ |
10.0 |
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Non-GAAP net income |
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$ |
11.0 |
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$ |
7.4 |
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Non-GAAP diluted earnings per share |
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$ |
0.23 |
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$ |
0.16 |
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Non-GAAP adjusted EBITDA |
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$ |
25.3 |
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$ |
16.4 |
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Non-GAAP adjusted EBITDA Margin |
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22.1 |
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14.4 |
% |
Recent Key Operating Achievements
Media Platform
Continued growth in footprint, product enhancements, and expanded advertising partnerships are expected to accelerate advertising monetization revenue
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Connected Car
Continued growth in the Connected Car platform footprint as well as new automotive OEM programs are expected to accelerate monetization
Pay TV
Continued double-digit subscriber growth in video-over-broadband along with key design wins demonstrate partner commitment to the TiVo platform
Consumer Electronics
Continued trend of securing long-term renewals with commitments to our technology
Financial Outlook
The Company reiterates its outlook for 2026 as follows:
Category |
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Outlook |
Revenue |
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$440M to $470M |
Adjusted EBITDA Margin1, 2 |
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17% to 19% |
Operating Cash Flow |
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$15M to $25M |
Capital Expenditures3 |
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$15M to $20M |
Non-GAAP Tax Expense2 |
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~$20M |
Basic and Fully Diluted Share Count |
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48M to 49M |
Stock-based Compensation |
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~$31M |
1 See discussion of “Non-GAAP Financial Measures” below.
2 With respect to Adjusted EBITDA Margin and Non-GAAP Tax Expense, the Company has determined that it is unable to provide a quantitative reconciliation of these forward-looking non-GAAP measures 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.
3 Capital Expenditures is defined as the sum of two items from the Consolidated Statements of Cash Flows: Capitalized Internal-Use Software and Purchases of Property and Equipment.
2
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 Wednesday, May 6, 2026. To access the call toll-free, please dial 1-888-596-4144, otherwise dial 1-646-968-2525. The conference ID is 5483252. All participants should dial in 15 minutes prior to the start of the call using the conference ID listed above. Alternatively, the call can be accessed via the following webcast link: Xperi Q1 2026 Earnings Call.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding: expectations regarding our future results of operations and financial position, margin expansion and overall growth, including, without limitation, 2026 goals, expectations regarding cash flow, revenue growth and Adjusted EBITDA Margin growth, improved profitability, long term shareholder value, objectives for future operations, and ongoing strategies and operating initiatives, including, without limitation, our cost management focus and monetization goals, timing, and expectations, including, without limitation, expectations regarding monetization revenue, growth in the Media Platform business, including through product enhancements and advertising partnership expectations, monetization in Connected Car, AutoStage footprint growth and strategy, ARPU growth, and other objectives. 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,” “target,” “goal,” and 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” in our Annual Report on Form 10-K for the year ended December 31, 2025, as updated in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 to be filed with the Securities and Exchange Commission (the “SEC”), and our other filings with the SEC from time to time. Any forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company does not assume any obligation to, and does not intend 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 Xperi Inc.
Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS®, HD Radio™, TiVo®) are integrated into consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences, including IMAX®Enhanced, a certification and licensing program operated by IMAX Corporation and DTS, Inc. Xperi has created a unified ecosystem that reaches highly engaged consumers, driving increased value for partners, customers and consumers.
©2026 Xperi Inc. All Rights Reserved. Xperi, TiVo, DTS, HD Radio and their respective logos are trademark(s) or registered trademark(s) of Xperi Inc. or its subsidiaries in the United States and other countries. IMAX is a registered trademark of IMAX Corporation. All other trademarks and content are the property of their respective owners.
Definition for TiVo One Monthly Active User
Xperi defines a “TiVo One Monthly Active User” as a unique device that has connected to the TiVo video service, which includes the TiVo One advertising platform, at least once within the last 30 days. The TiVo One advertising platform integrates with the device’s operating system on certain “Powered by TiVo” devices, including smart TVs and video-over-broadband products.
Calculation of Average Revenue Per User for TiVo One
Average Revenue Per User (ARPU) for TiVo One is calculated by dividing monetization revenue within Media Platform for the trailing four quarters by the average number of TiVo One Monthly Active Users during that same period. Monetization revenue includes all advertising and data monetization revenue from the TiVo One platform and from other parts of our Media Platform business. This metric helps investors and management measure how effectively the Company monetizes its user base through advertising and data on its platforms.
3
Non-GAAP Financial Measures
In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company’s press release contains non-GAAP financial measures, including Non-GAAP Operating Income/(Loss), Non-GAAP Net Income/(Loss), Non-GAAP Net Income/(Loss) Per Share, Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted EBITDA Margin, Free Cash Flow, and Non-GAAP Tax Expense.
Non-GAAP Operating Income/(Loss) is defined as GAAP Operating Income/(Loss), less the impact of stock-based compensation; amortization of intangible assets; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance.
Non-GAAP Net Income/(Loss) is defined as GAAP Net Income/(Loss) excluding the impact of stock-based compensation; amortization of intangible assets; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance; and related tax effects for each adjustment.
Non-GAAP Net Income/(Loss) Per Share is defined as Non-GAAP Income/(Loss) divided by Non-GAAP weighted average shares outstanding - diluted.
Non-GAAP Adjusted EBITDA is defined as GAAP Net Income/(Loss), less the impact of interest expense; provision for income taxes; stock-based compensation; depreciation expense; amortization of intangible assets; amortization of capitalized cloud computing costs; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance.
Non-GAAP Adjusted EBITDA Margin is defined as Non-GAAP Adjusted EBITDA divided by total revenue.
Free Cash Flow is defined as net cash from operating activities, less cash investments for capitalized internal-use software and purchases of property and equipment.
Non-GAAP Tax Expense is defined as the GAAP provision for income taxes, adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments.
Management believes that the non-GAAP measures used in this press release provide investors with important perspectives into the Company’s ongoing business and financial performance and provide a better 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 adjusted EBITDA, 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 financial 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 GAAP to non-GAAP financial measures.
Xperi Investor Contact:
Idalia Rodriguez
Arbor Advisory Group
+1 203-293-3325
ir@xperi.com
Media Contact:
Tom Huntington
+1 619-743-9057
thomas.huntington@xperi.com
4
– Tables Follow –
SOURCE: XPERI INC.
XPER-E
# # #
5
XPERI INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
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Three Months Ended March 31, |
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2026 |
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2025 |
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Revenue |
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$ |
114,206 |
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$ |
114,033 |
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Operating expenses: |
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Cost of revenue, excluding depreciation and amortization of intangible assets |
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30,880 |
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29,599 |
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Research and development |
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27,083 |
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39,549 |
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Selling, general and administrative |
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41,787 |
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48,698 |
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Depreciation expense |
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4,261 |
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2,905 |
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Amortization expense |
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8,044 |
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9,722 |
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Total operating expenses |
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112,055 |
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130,473 |
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Operating income (loss) |
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2,151 |
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(16,440 |
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Interest and other income, net |
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819 |
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2,295 |
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Interest expense - debt |
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(678 |
) |
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(732 |
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Income (loss) before taxes |
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2,292 |
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(14,877 |
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Provision for income taxes |
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10,118 |
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3,489 |
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Net loss |
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(7,826 |
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(18,366 |
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Net loss per share - basic and diluted |
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$ |
(0.17 |
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$ |
(0.41 |
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Weighted-average number of shares used in computing net loss per share - basic and diluted |
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47,352 |
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44,773 |
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6
XPERI INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
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March 31, 2026 |
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December 31, 2025 |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
70,422 |
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$ |
96,824 |
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Accounts receivable, net |
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59,898 |
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56,838 |
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Unbilled contracts receivable, net |
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89,909 |
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78,320 |
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Prepaid expenses and other current assets |
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28,685 |
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23,631 |
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Deferred consideration from divestiture |
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11,999 |
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11,880 |
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Total current assets |
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260,913 |
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267,493 |
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Note receivable, noncurrent |
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32,474 |
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31,928 |
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Deferred consideration from divestiture, noncurrent |
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8,351 |
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8,015 |
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Unbilled contracts receivable, noncurrent |
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73,578 |
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67,417 |
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Property and equipment, net |
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51,471 |
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51,926 |
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Operating lease right-of-use assets |
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24,459 |
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27,557 |
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Intangible assets, net |
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120,838 |
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128,882 |
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Deferred tax assets |
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6,591 |
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5,281 |
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Other noncurrent assets |
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28,271 |
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27,330 |
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Total assets |
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$ |
606,946 |
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$ |
615,829 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
12,604 |
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$ |
12,352 |
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Accrued liabilities |
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82,355 |
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82,160 |
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Deferred revenue |
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15,404 |
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16,137 |
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Total current liabilities |
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110,363 |
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110,649 |
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Long-term debt |
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40,000 |
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40,000 |
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Deferred revenue, noncurrent |
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13,665 |
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15,072 |
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Operating lease liabilities, noncurrent |
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19,586 |
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21,487 |
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Deferred tax liabilities |
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1,428 |
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1,428 |
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Other noncurrent liabilities |
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13,895 |
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13,118 |
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Total liabilities |
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198,937 |
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201,754 |
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Stockholders' equity: |
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Common stock |
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48 |
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47 |
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Additional paid-in capital |
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1,317,836 |
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1,314,249 |
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Accumulated other comprehensive loss |
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(6,266 |
) |
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(4,438 |
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Accumulated deficit |
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(903,609 |
) |
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(895,783 |
) |
Total stockholders' equity |
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408,009 |
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414,075 |
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Total liabilities and stockholders' equity |
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$ |
606,946 |
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$ |
615,829 |
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7
XPERI INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
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Three Months Ended March 31, |
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2026 |
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2025 |
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Cash flows from operating activities: |
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Net loss |
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$ |
(7,826 |
) |
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$ |
(18,366 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
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Amortization of intangible assets |
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8,044 |
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9,722 |
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Stock-based compensation expense |
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7,836 |
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12,102 |
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Depreciation of property and equipment |
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4,261 |
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|
2,905 |
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Accrued interest income from note receivable |
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|
(546 |
) |
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(569 |
) |
Accretion of discount from deferred consideration from divestitures |
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(455 |
) |
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(400 |
) |
Deferred income taxes |
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(1,310 |
) |
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(99 |
) |
Other |
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148 |
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|
830 |
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Changes in operating assets and liabilities: |
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Accounts receivable |
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(2,908 |
) |
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|
233 |
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Unbilled contracts receivable |
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(17,750 |
) |
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|
(7,366 |
) |
Prepaid expenses and other assets |
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|
(6,098 |
) |
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|
(4,197 |
) |
Accounts payable |
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1,023 |
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|
(2,653 |
) |
Accrued and other liabilities |
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(294 |
) |
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(12,417 |
) |
Deferred revenue |
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(2,140 |
) |
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(1,983 |
) |
Net cash used in operating activities |
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(18,015 |
) |
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(22,258 |
) |
Cash flows from investing activities: |
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Purchases of property and equipment |
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(1,105 |
) |
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(1,066 |
) |
Capitalized internal-use software |
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(3,729 |
) |
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(3,127 |
) |
Purchases of intangible assets |
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— |
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(14 |
) |
Net cash used in investing activities |
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(4,834 |
) |
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(4,207 |
) |
Cash flows from financing activities: |
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|
|
|
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|
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Repayment of short-term debt |
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|
— |
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|
|
(50,000 |
) |
Withholding taxes related to net share settlement of equity awards |
|
|
(3,553 |
) |
|
|
(5,288 |
) |
Payment of debt issuance costs |
|
|
— |
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|
|
(823 |
) |
Proceeds from long-term debt |
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|
— |
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|
|
40,000 |
|
Net cash used in financing activities |
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|
(3,553 |
) |
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|
(16,111 |
) |
Net decrease in cash and cash equivalents |
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|
(26,402 |
) |
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(42,576 |
) |
Cash and cash equivalents at beginning of period |
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|
96,824 |
|
|
|
130,564 |
|
Cash and cash equivalents at end of period |
|
$ |
70,422 |
|
|
$ |
87,988 |
|
8
XPERI INC.
GAAP TO NON-GAAP RECONCILIATIONS
(in thousands, except per share amounts)
(unaudited)
|
|
Three Months Ended March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Reconciliation of net (loss) income: |
|
|
|
|
|
|
||
GAAP net loss |
|
$ |
(7,826 |
) |
|
$ |
(18,366 |
) |
Adjustments to GAAP net loss: |
|
|
|
|
|
|
||
Stock-based compensation(1) |
|
|
7,836 |
|
|
|
12,102 |
|
Amortization of intangible assets |
|
|
8,044 |
|
|
|
9,722 |
|
Transaction, integration and restructuring related costs: |
|
|
|
|
|
|
||
Transaction, integration and restructuring costs(2) |
|
|
285 |
|
|
|
(54 |
) |
Severance and retention(3) |
|
|
780 |
|
|
|
4,644 |
|
Income tax adjustment(4) |
|
|
1,912 |
|
|
|
(623 |
) |
Non-GAAP net income |
|
$ |
11,031 |
|
|
$ |
7,425 |
|
|
|
|
|
|
|
|
||
(1) Stock-based compensation included in above line items: |
|
|
|
|
|
|
||
Cost of revenue, excluding depreciation and amortization of intangible assets |
|
$ |
656 |
|
|
$ |
1,044 |
|
Research and development |
|
$ |
2,263 |
|
|
$ |
4,423 |
|
Selling, general and administrative |
|
$ |
4,917 |
|
|
$ |
6,635 |
|
(2) Transaction, integration and restructuring costs included in above line items: |
|
|
|
|
|
|
||
Selling, general and administrative |
|
$ |
285 |
|
|
$ |
(63 |
) |
Interest and other income, net |
|
$ |
— |
|
|
$ |
9 |
|
(3) Severance and retention included in above line items: |
|
|
|
|
|
|
||
Cost of revenue, excluding depreciation and amortization of intangible assets |
|
$ |
154 |
|
|
$ |
225 |
|
Research and development |
|
$ |
592 |
|
|
$ |
2,716 |
|
Selling, general and administrative |
|
$ |
34 |
|
|
$ |
1,703 |
|
(4) The provision for income taxes is adjusted to reflect the net direct and indirect tax effects of the various non-GAAP pretax adjustments. |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
Reconciliation of net (loss) income per share: |
|
|
|
|
|
|
||
GAAP diluted net loss per share |
|
$ |
(0.17 |
) |
|
$ |
(0.41 |
) |
Adjustments to GAAP net loss per share: |
|
|
|
|
|
|
||
Stock-based compensation |
|
|
0.17 |
|
|
|
0.27 |
|
Amortization of intangible assets |
|
|
0.17 |
|
|
|
0.22 |
|
Transaction, integration and restructuring related costs |
|
|
0.02 |
|
|
|
0.10 |
|
Income tax adjustment |
|
|
0.04 |
|
|
|
(0.01 |
) |
Difference in shares used in calculation |
|
|
— |
|
|
|
(0.01 |
) |
Non-GAAP diluted net income per share |
|
$ |
0.23 |
|
|
$ |
0.16 |
|
|
|
|
|
|
|
|
||
GAAP weighted-average number of shares - basic and diluted |
|
|
47,352 |
|
|
|
44,773 |
|
Non-GAAP weighted-average number of shares - diluted |
|
|
47,894 |
|
|
|
45,719 |
|
9
XPERI INC.
GAAP TO NON-GAAP RECONCILIATIONS
(in thousands)
(unaudited)
|
|
Three Months Ended March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
GAAP operating income (loss) |
|
$ |
2,151 |
|
|
$ |
(16,440 |
) |
Adjustments to GAAP operating loss: |
|
|
|
|
|
|
||
Stock-based compensation |
|
|
7,836 |
|
|
|
12,102 |
|
Amortization of intangible assets |
|
|
8,044 |
|
|
|
9,722 |
|
Transaction, integration and restructuring related costs: |
|
|
|
|
|
|
||
Transaction, integration and restructuring costs |
|
|
285 |
|
|
|
(63 |
) |
Severance and retention |
|
|
780 |
|
|
|
4,644 |
|
Non-GAAP operating income |
|
$ |
19,096 |
|
|
$ |
9,965 |
|
10
XPERI INC.
GAAP TO NON-GAAP RECONCILIATIONS
(in thousands)
(unaudited)
|
|
Three Months Ended March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
GAAP net loss |
|
$ |
(7,826 |
) |
|
$ |
(18,366 |
) |
Adjustments to GAAP net loss: |
|
|
|
|
|
|
||
Interest expense |
|
|
856 |
|
|
|
897 |
|
Provision for income taxes |
|
|
10,118 |
|
|
|
3,489 |
|
Stock-based compensation |
|
|
7,836 |
|
|
|
12,102 |
|
Depreciation expense |
|
|
4,261 |
|
|
|
2,905 |
|
Amortization of intangible assets |
|
|
8,044 |
|
|
|
9,722 |
|
Amortization of capitalized cloud computing costs |
|
|
908 |
|
|
|
1,084 |
|
Transaction, integration and restructuring related costs: |
|
|
|
|
|
|
||
Transaction, integration and restructuring costs |
|
|
285 |
|
|
|
(54 |
) |
Severance and retention |
|
|
780 |
|
|
|
4,644 |
|
Non-GAAP Adjusted EBITDA |
|
$ |
25,262 |
|
|
$ |
16,423 |
|
Non-GAAP Adjusted EBITDA Margin(1) |
|
|
22.1 |
% |
|
|
14.4 |
% |
|
|
|
|
|
|
|
||
Computation of free cash flow: |
|
|
|
|
|
|
||
Net cash used in operating activities |
|
$ |
(18,015 |
) |
|
$ |
(22,258 |
) |
Adjustments: |
|
|
|
|
|
|
||
Capitalized internal-use software |
|
|
(3,729 |
) |
|
|
(3,127 |
) |
Purchases of property and equipment |
|
|
(1,105 |
) |
|
|
(1,066 |
) |
Non-GAAP free cash flow |
|
$ |
(22,849 |
) |
|
$ |
(26,451 |
) |
11
FAQ
How did Xperi (XPER) perform financially in Q1 2026?
Xperi reported Q1 2026 revenue of $114.2 million, roughly flat year-over-year, but profitability improved. GAAP operating income was $2.2 million versus a prior loss, and GAAP net loss narrowed to $7.8 million, while non-GAAP net income reached $11.0 million.
What were Xperi’s key non-GAAP results for Q1 2026?
Xperi’s non-GAAP operating income rose to $19.1 million in Q1 2026, up from $10.0 million. Non-GAAP net income was $11.0 million, and adjusted EBITDA reached $25.3 million, delivering a 22.1% adjusted EBITDA margin versus 14.4% a year earlier.
How fast is Xperi’s Media Platform business growing?
Xperi’s Media Platform revenue grew 45% year-over-year in Q1 2026, driven largely by advertising monetization. TiVo One monthly active users more than doubled to 5.5 million, and trailing 12‑month TiVo One ARPU reached $7.10, highlighting stronger monetization of its user base.
What progress did Xperi report in Connected Car and AutoStage?
Xperi’s AutoStage footprint expanded by over 45% year-over-year, reaching 16 million vehicles across 13 automotive brands. The company also launched its AutoStage Broadcast Portal and renewed multi-year HD Radio agreements with major Asian Tier 1 suppliers and new vehicle models.
What 2026 financial guidance did Xperi reaffirm?
Xperi reaffirmed 2026 guidance for revenue of $440 million to $470 million and an adjusted EBITDA margin of 17% to 19%. It also guides to operating cash flow of $15 million to $25 million and capital expenditures of $15 million to $20 million.
How strong is Xperi’s user and subscriber growth across platforms?
TiVo One monthly active users reached 5.5 million, more than doubling year-over-year. AutoStage expanded to 16 million vehicles, and IPTV subscriber households in the Pay segment increased 19% year-over-year to 3.28 million, reflecting broad ecosystem growth.