Revenue and Licensing - Licensing revenue accounted for 95% of total revenue for the fiscal year ended September 24, 2021, up from 93% in 2020 and 89% in 2019[22] - The company generates revenue from licensing arrangements with over 500 electronics product OEM and software developer licensees[22] - The broadcast market represented 39% of licensing revenue, while mobile accounted for 22%, and consumer electronics (CE) made up 15% for the fiscal year ended September 24, 2021[25] - Licensing revenue includes recoveries from previous periods, which have become a recurring element of the business and are subject to fluctuation[32] - Dolby Cinema partnerships generate revenue through a share of box office receipts, recognized as licensing revenue[33] - Revenue from licensing businesses is dependent on OEMs and other licensees incorporating technologies into their products, with no minimum purchase commitments[86] - The availability of semiconductor components is critical for licensing revenue, with shortages potentially impacting product demand fulfillment[99] - A small number of licensees or customers may represent a significant percentage of revenue, increasing the risk of revenue decline if key relationships are lost[98] - The company’s revenue growth will depend on success in new and existing markets, including digital broadcast, mobile devices, and online media distribution[114] Technology and Innovation - Dolby's key technologies include Dolby Atmos, which provides an immersive audio experience, and Dolby Vision, which enhances imaging quality with high dynamic range[25] - The company is expanding its addressable market through the launch of its developer platform, Dolby.io, enabling developers to create high-quality, interactive applications[21] - The two-tier licensing model allows semiconductor manufacturers to incorporate Dolby technologies into their products, which are then sold to OEMs[26] - The integrated licensing model combines implementation and system licensing, allowing software vendors to incorporate Dolby technologies into their products[30] - Dolby launched a developer platform, Dolby.io, providing access to technologies through APIs, aimed at expanding content enhancement capabilities[36] - The success of new initiatives like Dolby Atmos and Dolby Vision depends on the availability of products and content in these formats, which is subject to market conditions and competition[118] - The company is transitioning its audio licensing business to newer technologies like DD+ and Dolby AC-4 to maintain revenue streams[126] Financial Performance and Expenses - R&D expenses for fiscal year ended September 24, 2021, were $253.64 million, an increase from $239.05 million in the previous year[50] - Sales and marketing expenses for the fiscal year ended September 24, 2021, were $332.67 million, slightly down from $335.93 million in the previous year[54] - COVID-19 has adversely impacted operations and financial performance, leading to disruptions in supply chains and delays in product launches[80] - The cinema market continues to be affected by COVID-19, resulting in significant reductions in box office receipts and lower demand for cinema products and services[81] - The company faces challenges in having its technologies adopted as industry standards, which may limit its licensing practices and revenue potential[106] - The company has experienced issues with inaccurate royalty reporting from licensees, which may lead to fluctuations in operating results and revenue recognition[110] Market and Economic Conditions - Economic conditions, including those influenced by COVID-19, may suppress consumer demand for discretionary goods that incorporate Dolby's technologies[100] - The shift from optical disc media to streaming services has resulted in decreased royalty revenue, particularly affecting sales of devices with optical disc drives[88] - Revenue from the PC market relies on unit shipment growth and the inclusion of technologies in computers, which may be impacted by COVID-19[93] - Dolby Cinema revenue is tied to box office receipts and the success of motion pictures, with potential risks from delays in cinematic releases and reduced operating capacity due to COVID-19[96] - The company is dependent on international sales for a substantial amount of total revenue, facing risks related to trade restrictions and tariffs[155] Intellectual Property and Legal Risks - The company faces ongoing intellectual property litigation risks, which could divert management resources and lead to significant costs[128] - The company has contractual indemnifications with licensees regarding IP rights and may defend them against third-party claims[129] - The company faces challenges in enforcing patent rights in foreign jurisdictions, particularly in countries with limited IP protections[132] - Unauthorized use of the company's intellectual property, particularly in emerging economies, poses a significant risk to revenue and market share[127] - As of September 24, 2021, Dolby held approximately 15,500 issued patents and 4,000 pending patent applications globally[39] Corporate Governance and Shareholder Matters - The Dolby family and their affiliates owned 36,012,733 shares of Class B common stock, representing 99.8% of the voting power of Class B shares as of September 24, 2021[170] - The stock repurchase program may reduce the public float of shares available for trading, and future repurchases are subject to market conditions and other factors[174] - The company has a quarterly cash dividend program initiated in October 2014, with annual increases approved by the Board of Directors, but future dividends are not guaranteed[175] - The company has a dividend policy that may be changed or canceled at the discretion of the Board of Directors[197] Employee and Community Engagement - Dolby employs 2,368 individuals globally, with a focus on employee well-being and diversity initiatives[62] - The company has established programs to support diversity and inclusion, enhancing employee engagement and community impact[68] - The company has a competitive compensation package to attract and retain employees, including cash and equity compensation[179] Operational Risks and Supply Chain - The company relies on key suppliers for materials and components, which poses risks related to price control, delivery, and quality[133] - Sole source suppliers for critical components may lead to production delays and increased costs if they fail to deliver[134] - The company relies significantly on a global network of independent distributors for marketing and distribution, which may affect future sales if distributors do not adhere to compliance policies[101] Real Estate and Assets - The company owns its principal corporate office in San Francisco, California, and additional properties in various states and internationally[185] - The lease for the corporate office at 100 Potrero Avenue, San Francisco, expires on October 31, 2024, providing approximately 70,000 square feet of space[187] - The company has a minority ownership interest of 49.0% in Dolby Properties Burbank, LLC, located in Burbank, California[186]

Dolby Laboratories, Inc. (NYSE:DLB) Q3 2021 Results Conference Call July 29, 2021 5:00 PM ET Company Participants Jason Dea - Senior Director of Corporate Finance & IR Kevin Yeaman - President, CEO & Director Lewis Chew - Executive VP & CFO Conference Call Participants Ralph Schackart - William Blair Steven Frankel - Collier Securities James Goss - Barrington Research Paul Chung - JPMorgan Operator Ladies and gentlemen, thank you for standing by. Welcome to the Dolby Laboratories conference call discussing ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 25, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 DOLBY LABORATORIES, INC. (Exact name of registrant as specified in its charter) Delaware 90-0199783 (State or other ...

Dolby Laboratories, Inc. (NYSE:DLB) Q2 2021 Earnings Conference Call May 4, 2021 5:00 PM ET Company Participants Jason Dea - Senior Director of Corporate Finance & IR Kevin J. Yeaman - President, CEO & Director Lewis Chew - Executive VP & CFO Conference Call Participants Ralph Edward Schackart - William Blair & Company L.L.C., Research Division;Partner & Technology Analyst Steven Bruce Frankel - Colliers Securities LLC, Research Division; Senior VP & Director of Research Paul Chung - JPMorgan Chase & Co, Re ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 26, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 | --- | --- | --- | --- | --- | --- | |--------|---------------------------------------------|-------------------- ...

Dolby Laboratories, Inc. (NYSE:DLB) Q1 2021 Earnings Conference Call January 28, 2021 5:00 PM ET Company Participants Jason Dea - Director, Investor Relations Kevin Yeaman - President and Chief Executive Officer Lewis Chew - Executive Vice President and Chief Financial Officer Conference Call Participants Steven Frankel - Colliers Paul Chung - JPMorgan Jim Goss - Barrington Research Operator Ladies and gentlemen, thank you for standing by, and welcome to the Dolby Laboratories Conference Call discussing Fis ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended December 25, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 | --- | --- | --- | --- | |------------------------------------------------------------------------------------ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 25, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 DOLBY LABORATORIES, INC. (Exact name of registrant as specified in its charter) Delaware 90-0199783 (State or other ju ...

Dolby Laboratories, Inc. (NYSE:DLB) Q4 2020 Earnings Conference Call November 12, 2020 5:00 PM ET Company Participants Jason Dea - Director of Corporate Finance and Investor Relations Lewis Chew - Executive Vice President and Chief Financial Officer Kevin Yeaman - President and Chief Executive Officer Conference Call Participants Steven Frankel - Colliers Securities LLC Ralph Schackart - William Blair & Company LLC Paul Chung - JPMorgan Chase & Co. Eric Wold - B. Riley FBR, Inc. James Goss - Barrington Rese ...

Dolby Laboratories, Inc. (NYSE:DLB) Q3 2020 Earnings Conference Call August 3, 2020 5:00 PM ET Company Participants Jason Dea - Director, Investor Relations Lewis Chew - Executive Vice President and Chief Financial Officer Kevin Yeaman - President and Chief Executive Officer Conference Call Participants Ralph Schackart - William Blair Paul Chung - JP Morgan Jim Goss - Barrington Research Operator Ladies and gentlemen, thank you for standing by. Welcome to the Dolby Laboratories Conference Call discussing Fi ...