Financial Data and Key Metrics Changes - The company reported revenue of $86.1 million for Q3 2024, with an adjusted EBITDA of $51.3 million, reflecting an adjusted EBITDA margin of 60% [15][30][36] - Operating expenses were $35.3 million, an increase of 1% from the prior quarter, while litigation expenses decreased by 38% to $2.7 million [31][33] - Interest expense decreased to $12.8 million, down $540,000 from the prior quarter, due to lower interest rates and continued debt repayments [33][34] Business Line Data and Key Metrics Changes - The company signed seven deals in Q3 2024, bringing the total to 22 deals for the year, with agreements spanning Consumer Electronics, Pay-TV, Semiconductor, and OTT [14][30] - Six of the deals signed in Q3 were renewals, maintaining a high renewal rate exceeding 90% [14] - A multiyear e-commerce license agreement was closed with Neiman Marcus, marking a significant milestone in the e-commerce media adjacent market [11][30] Market Data and Key Metrics Changes - The company ended Q3 with over 11,750 worldwide patent assets, an increase from 11,500 in the prior quarter, indicating growth in its intellectual property portfolio [19] - The semiconductor market is seeing increased interest in hybrid bonding, particularly in flash memory and logic devices, which is expected to drive revenue opportunities [23][24] Company Strategy and Development Direction - The company aims to grow annual revenue to over $500 million, with a robust pipeline of opportunities in key verticals such as OTT, semiconductor, and e-commerce [13] - The company is focused on protecting its intellectual property, as evidenced by the recent patent infringement litigation against Disney, which was not included in the 2024 revenue guidance [10][46] - The company is also looking to augment its portfolio through M&A, particularly in media and semiconductor sectors, with a focus on tuck-in acquisitions [21][61] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing declines in traditional Pay-TV subscribers but expressed confidence in offsetting these declines through growth in OTT services [52] - The company adjusted its revenue guidance for 2024 to a range of $370 million to $400 million, reflecting potential timing impacts of deal closures [42] - Operating expenses are expected to be in the range of $144 million to $148 million, with a consistent non-GAAP tax rate of approximately 23% [44][45] Other Important Information - The Board approved an increase in the share repurchase program to up to $200 million, part of a broader capital allocation strategy [39][40] - The company paid a cash dividend of $0.05 per share in Q3 and plans to pay another dividend of the same amount in December [38] Q&A Session Summary Question: Details around the semiconductor license signed during the quarter - Management highlighted continued interest in hybrid bonding across various industries but could not disclose specific details due to confidentiality [48][50] Question: Trends in Pay-TV subscribers - Management confirmed ongoing declines in traditional Pay-TV subscribers but noted growth in OTT services as a counterbalance [51][52] Question: Confidence in signing deals in Q4 and potential slippage into 2025 - Management expressed confidence based on regular communication with customers and an expanding pipeline, although some deals may slip into 2025 [55][56] Question: Background on negotiations with Disney prior to litigation - Management could not provide specific details but emphasized the lengthy nature of negotiations and the necessity of litigation to protect IP [58][60] Question: Pipeline for tuck-in M&A opportunities - Management indicated a strong cash flow outlook and flexibility for potential acquisitions, aligning with their capital allocation strategy [61][63]

| --- | --- | --- | |------------------|-------|-------| | | | | | | | | | | | | | Q3 2024 Earnings | | | Safe Harbor This presentation 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, a ...

Adeia (ADEA) came out with quarterly earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -22.86%. A quarter ago, it was expected that this provider of chip technology for small electronic devices would post earnings of $0.23 per share when it actually produced earnings of $0.28, delivering a surprise of 21.74%.O ...

Exhibit 99.1 FOR IMMEDIATE RELEASE ADEIA ANNOUNCES THIRD QUARTER 2024 FINANCIAL RESULTS Signed 7 deals across multiple verticals in the third quarter Board increased share repurchase authorization up to $200 million Filed patent infringement litigation against Disney Signed a new multi-year e-commerce license agreement with a leading luxury retailer SAN JOSE, Calif. – November 7, 2024 – Adeia Inc. (Nasdaq: ADEA) (the "Company" or "Adeia") today announced financial results for the third quarter ended Septemb ...

 Signed 7 deals across multiple verticals in the third quarterBoard increased share repurchase authorization up to $200 millionFiled patent infringement litigation against DisneySigned a new multi-year e-commerce license agreement with a leading luxury retailer SAN JOSE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (the “Company” or “Adeia”) today announced financial results for the third quarter ended September 30, 2024. “In the third quarter, we signed 7 deals in multiple verticals ...

SAN JOSE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (the “Company” or “Adeia”) announced today that it has filed multiple patent infringement lawsuits in the United States and Europe against The Walt Disney Company and certain of its subsidiaries, including Hulu and ESPN. The Company filed one lawsuit in the U.S. District Court for the District of Delaware and three lawsuits in Europe, including two in the Unified Patent Court and one in Germany. “We always prefer to reach a mutual ...

SAN JOSE, Calif., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) will announce its financial results for the third quarter ended September 30, 2024, on Thursday, November 7, 2024, following the close of market. The company will host an earnings conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) that same day. To access the earnings conference call: U.S. callers, please dial +1 (888) 660-6411International callers, please dial +1 (929) 203-0849 All participants should dial in 15 m ...

SAN JOSE, Calif., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations enhance billions of devices and shape the way the world explores and experiences entertainment, today announced it has renewed its intellectual property (IP) license agreement with leading TV seller VIZIO. Under the terms of the agreement, the multi-year license renewal extends VIZIO's access to Adeia's media IP portfolio for its products and services. "We are excited to enter into this rene ...

SAN JOSE, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), a leader in invention of semiconductor technology, announced that several of its semiconductor technologists will present at various upcoming industry conferences. The presentations will focus on Adeia’s hybrid bonding technology, a key enabler for next-generation high-performance computing and AI applications. Adeia continues to see growing interest in its hybrid bonding technology across the semiconductor industry and will be ...

SAN JOSE, Calif., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), a leading technology company bringing technology from incubation to reality, today announced the renewal of its intellectual property (IP) license agreement with LG Electronics, Inc. (LG). This multi-year agreement extends the longstanding relationship between the two companies, encompassing Adeia's expansive media IP portfolio. "We are pleased to continue our partnership with LG, which, for decades, has been a global leader in ...