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 September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41486 XPERI INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 83-4470363 (State or Other Jurisdiction of Incorporation or Organization) (I.R ...

Q3 2024 Earnings November 6, 2024 Safe Harbor This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation 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 lim ...

Investors might want to bet on Xperi (XPER) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. S ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potent ...

Xperi (XPER) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Individual in ...

Xperi (XPER) closed the last trading session at $8.94, gaining 12% 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 $18.75 indicates a 109.7% upside potential. The average comprises four short-term price targets ranging from a low of $12 to a high of $30, with a standard deviation of $7.89. While the lowest estimate indicates an increase of 34.2% from the current price level, the mo ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potent ...

| --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | | | | | | | | | | | | | | | | ...

Revenue Performance - Revenue for the three months ended June 30, 2024, was $119.6 million, a decrease of $7.3 million, or 6%, compared to $126.9 million in the same period of 2023[117]. - Revenue for the six months ended June 30, 2024, was $238.4 million, down $15.3 million, or 6%, from $253.7 million in the same period of 2023[119]. - The company reported an increase of $11.8 million in Connected Car revenue for the six months ended June 30, 2024, driven by minimum guarantee revenue[119]. Operating Expenses - Operating expenses for the three months ended June 30, 2024, totaled $141.5 million, a decrease of $20.6 million, or 13%, compared to $162.1 million in the same period of 2023[120]. - Research and development expenses for the three months ended June 30, 2024, were $45.1 million, down $10.6 million, or 19%, from $55.7 million in the same period of 2023[124]. - Selling, general and administrative expenses for the three months ended June 30, 2024, were $53.1 million, a decrease of $3.4 million, or 6%, compared to $56.5 million in the same period of 2023[126]. - Stock-based compensation expense decreased by $2.8 million, or 15%, for the three months ended June 30, 2024, compared to the same period of the prior year[128]. - Depreciation expense for Q2 2024 was $3.3 million, a decrease of 22% from $4.2 million in Q2 2023[129]. - Amortization expense for Q2 2024 was $11.0 million, down 25% from $14.8 million in Q2 2023[130]. Divestiture and Gains - The divestiture of the AutoSense in-cabin safety business was completed in January 2024, streamlining the company's focus on entertainment markets[114]. - Gain on divestiture for the six months ended June 30, 2024, was $10 million, contributing to a loss before taxes of $13 million, compared to a loss of $27 million in the same period of 2023[115]. - The company recognized a gain of $22.9 million from divestiture in the six months ended June 30, 2024[134]. Net Loss and Tax - Net loss for the three months ended June 30, 2024, was 26%, an improvement from a net loss of 31% in the same period of 2023[115]. - Income tax expense for Q2 2024 was $9.3 million on a pretax loss of $21.4 million, resulting in an effective tax rate of (43.4)%[135]. Cash Flow and Capital - Cash and cash equivalents decreased to $92.5 million as of June 30, 2024, down $61.9 million from $154.4 million at December 31, 2023[139]. - Net cash used in operating activities was $51.9 million for the six months ended June 30, 2024, primarily due to a net loss of $44.0 million[141]. - Capital expenditures for 2024 are expected to be approximately $20.0 million[143]. - Long-term debt includes a $50.0 million promissory note with a 6.00% interest rate, maturing on July 1, 2025[145]. Stock Repurchase and Current Ratio - The company has authorized a stock repurchase program of up to $100.0 million, with no shares repurchased to date[140]. - The current ratio improved to 2.0 as of June 30, 2024, compared to 1.9 as of December 31, 2023[137].