SAN JOSE, Calif., June 12, 2024 (GLOBE NEWSWIRE) -- Today, Adeia Inc. (NASDAQ:ADEA), a leading R&D and intellectual property (IP) licensing company known for bringing leading innovations in the semiconductor and media/entertainment technology sectors to market, announced recent developments in hybrid bonding a technology targeted toward the future of semiconductor packaging enabling high-performance computing capabilities, like those required for AI. The company has experienced encouraging continued interes ...

Core Viewpoint - Adeia Inc. has successfully repriced its Term Loan B, resulting in reduced future interest expenses and increased financial flexibility for the company [1][2]. Financial Impact - The repricing lowers the applicable interest rate on the remaining balance of approximately $561.1 million by about 61 basis points, leading to an estimated annual cash interest expense reduction of approximately $3.4 million [1][3]. - The new interest rate is set at SOFR + 300 basis points, with the fixed interest rate component lowered and the credit spread adjustment eliminated [3]. Debt Management - Since its separation, the company has paid down nearly $200 million of its debt, demonstrating a strong cash-generative business model [2]. - The mandatory excess cash flow payment thresholds have been revised, with 50% at a net leverage ratio above 1.75x, 25% between 1.75x and 1.25x, and 0% below 1.25x [3]. Company Overview - Adeia Inc. is a leading R&D and intellectual property licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries [4]. - The company's innovations underpin technology solutions that shape the future of digital entertainment and electronics, impacting millions of people globally [4].

Core Viewpoint - Adeia Inc. has successfully repriced its Term Loan B, resulting in reduced future interest expenses and increased financial flexibility for the company [1][2]. Financial Impact - The repricing lowers the applicable interest rate on the remaining balance of approximately $561.1 million by about 61 basis points, leading to an estimated annual cash interest expense reduction of approximately $3.4 million [1][3]. - The new interest rate is set at SOFR + 300 basis points, with the fixed interest rate component lowered and the credit spread adjustment eliminated [3]. Debt Management - Since its separation, the company has paid down nearly $200 million of its debt, demonstrating a strong cash-generative business model [2]. - The mandatory excess cash flow payment thresholds have been revised, with 50% at a net leverage ratio above 1.75x, 25% between 1.75x and 1.25x, and 0% below 1.25x [3]. Company Overview - Adeia Inc. is a leading R&D and intellectual property licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries [4]. - The company's innovations underpin technology solutions that shape the future of digital entertainment and electronics, impacting millions of people globally [4].

Adeia (ADEA) closed the last trading session at $11.31, gaining 12.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $15 indicates a 32.6% upside potential.The average comprises three short-term price targets ranging from a low of $14 to a high of $16, with a standard deviation of $1. While the lowest estimate indicates an increase of 23.8% from the current price level, the most o ...

SAN JOSE, Calif., May 14, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (NASDAQ:ADEA), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that Mitsubishi Electric, the Japanese multinational electronic and electrical equipment manufacturing company, has agreed to renew its license for access to Adeia's media intellectual property (IP) portfolio. This license covers connected TVs produced by Mitsubishi for distribution to businesses and consumers in t ...

Core Insights - Adeia Inc. has announced a multi-year renewal of its licensing agreement with Panasonic for its media intellectual property portfolio, highlighting the ongoing collaboration between the two companies in the entertainment technology sector [1][2]. Group 1: Company Overview - Adeia Inc. is a leading R&D and intellectual property licensing company that focuses on innovative technologies in the media and semiconductor industries [3]. - The company's IP portfolio supports technology solutions that are shaping the future of digital entertainment and electronics, impacting millions of consumers globally [3]. Group 2: Industry Context - Panasonic is recognized as a key player in the consumer electronics market, particularly in the production of smart and connected TVs [2]. - The demand for new digital and entertainment technologies is increasing, prompting manufacturers like Panasonic to adopt the latest innovations to enhance consumer experiences [2].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39304 ADEIA INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 84-4734590 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organ ...

Adeia (ADEA) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.64%. A quarter ago, it was expected that this provider of chip technology for small electronic devices would post earnings of $0.26 per share when it actually produced earnings of $0.27, delivering a surprise of 3.85%.Ove ...

Adeia Inc. (NASDAQ:ADEA) Q1 2024 Earnings Conference Call May 6, 2024 5:00 PM ET Company Participants Chris Chaney - Vice President of Investor Relations Paul Davis - Chief Executive Officer Keith Jones - Chief Financial Officer Conference Call Participants Matthew Galinko - Maxim Group Kevin Cassidy - Rosenblatt Securities Hamed Khorsand - BWS Financial Inc. Operator Good day, everyone. Thank you for standing by. Welcome to Adeia's First Quarter 2024 Earnings Conference Call. During today's presentation, a ...

Exhibit 99.1 FOR IMMEDIATE RELEASE ADEIA ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS Paid down $40 million of debt in the first quarter and nearly $200 million since separation Generated over $67 million in cash from operations in the first quarter SAN JOSE, Calif. – May 6, 2024 – Adeia Inc. (Nasdaq: ADEA) (the “Company” or “Adeia”) today announced financial results for the first quarter ended March 31, 2024. “The results of our first quarter demonstrate the strength of our business model and continued e ...