Xperi Inc. (NYSE:XPER) Q3 2022 Results Conference Call November 8, 2022 5:00 PM ET Company Participants Jill Koval - Arbor Advisory Group Jon Kirchner - CEO Robert Andersen - CFO Conference Call Participants Nick Zangler - Stephens Matthew Galinko - Maxim Group Richard Shannon - Craig-Hallum Operator Good day, everyone. Thank you for standing by. Welcome to Xperi Third Quarter 2022 Earnings Conference Call. [Operator Instructions]. I would now like to turn the call over to Jill Koval for Xperi. Jill, pleas ...

Xperi Holding Corp (NYSE:XPER) Q2 2022 Earnings Conference Call August 8, 2022 5:00 PM ET Company Participants Jill Koval - Arbor Advisory Group Jon Kirchner - CEO, President & Director Paul Davis - Chief Executive Officer of Adeia Robert Andersen - CFO Conference Call Participants Matthew Galinko - Maxim Group, LLC Richard Shannon - Craig-Hallum Hamed Khorsand - BWS Financial Nicholas Zangler - Stephens Inc Operator Good day, everyone. Thank you for standing by. Welcome to Xperi Second Quarter 2022 Earning ...

XPERI Q2 2022 EARNINGS DECK August 8, 2022 Safe Harbor This document 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 Xperi Holding Corporation's (the "Company") current expectations, estimates and projections about the Company's financial results, forecasts, business outlook, strategic prior ...

XPERI Q1 2022 EARNINGS DECK May 9, 2022 Safe Harbor This document 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 Xperi Holding Corporation's (the "Company") current expectations, estimates and projections about the Company's financial results, forecasts, and business outlook, strategic prio ...

Xperi Holding Corp (NYSE:XPER) Q1 2022 Earnings Conference Call May 9, 2022 5:00 PM ET Company Participants Jill Koval - Xperi Jon Kirchner - CEO, President & Director Robert Andersen - CFO Conference Call Participants Matthew Galinko - Sidoti & Company Hamed Khorsand - BWS Financial Richard Shannon - Craig-Hallum Operator Good day, everyone. Thank you for standing by. Welcome to Xperi First Quarter 2022 Earnings Conference Call. [Operator Instructions]. I would now like to turn the call over to Jill Koval ...

XPERI Q4 2021 EARNINGS DECK February 23, 2022 Safe Harbor This document 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 Xperi Holding Corporation's (the "Company") current expectations, estimates and projections about the Company's financial results, forecasts, and business outlook, growth e ...

Financial Data and Key Metrics Changes - In Q4 2021, total revenue was $214.4 million, down from $433.9 million in Q4 2020, primarily due to a large back payment from a Comcast agreement [35] - For the full year 2021, revenue was $877.7 million, a decrease of $269.7 million compared to 2020, attributed to significant Comcast back payments, larger Semi IP agreements recognized upfront in 2020, and more upfront revenue recognized in Consumer Electronics in 2020 [36] - Non-GAAP earnings per share for Q4 was $0.30, with full-year non-GAAP earnings per share expected to be approximately $2.06 for 2022 [37][41] Business Line Data and Key Metrics Changes - IP revenue in Q4 was $89.7 million, up almost 20% year-over-year when excluding prior period payments from Comcast [14] - Full-year IP revenue was $391.2 million, significantly exceeding the previously announced average annual baseline of $350 million [15] - Total product revenue in Q4 was $124.7 million, down 7% from $133.8 million a year ago, impacted by supply chain disruptions [22] Market Data and Key Metrics Changes - In the Pay-TV segment, Q4 revenue was $66.1 million, down 6% year-over-year, with expectations for flat to slightly down performance in 2022 [23] - Consumer Electronics revenue in Q4 was $24.5 million, down 13% year-over-year, driven by declines in the mobile business [26] - Connected Car revenue in Q4 was $22.4 million, down 10% year-over-year, with expectations for flat performance in 2022 [29] Company Strategy and Development Direction - The company plans to separate its IP and product businesses in the fall of 2022, aiming to create two standalone entities better positioned for growth [12] - A new brand for the IP Licensing business, Adeia, has been announced, reflecting the focus on licensing [21] - The company is pursuing growth in the OTT market, which is seen as a long-term growth driver [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the IP business's position, highlighting that it has generated over $9 billion in revenue over the past two decades [15] - The company anticipates revenue growth in 2022 to be between $910 million to $950 million, driven by the Micron deal and growth in the product business [39] - Management noted that supply chain disruptions continue to pose challenges but expect improvements in the latter half of 2022 [29] Other Important Information - The company launched its first ESG Annual Report, emphasizing its commitment to environmental and social issues [13] - The company is actively preparing for separation, with a focus on balancing capital allocation needs for both businesses [41] Q&A Session Summary Question: Can you discuss the Micron license agreement and its ongoing royalties? - The financial terms are confidential, but a significant amount of revenue is recognized upfront, with additional revenue expected in future periods [45] Question: What is the timeline for the 16 Connected Car models in trials? - Adoption is expected to accelerate into 2023-2025, but exact timing is uncertain [46] Question: Will the Media Platform segment contribute to earnings? - While profitability specifics are not disclosed, growth is expected to contribute meaningfully going forward [47] Question: How does the IP business's average annual baseline work? - The annual baseline is an average, with some years higher or lower, typically within a range of plus or minus 10% [64] Question: What is the expected growth in the product business for the year? - Low single-digit growth is forecasted, with improvements expected as supply chain issues are resolved [60] Question: Is the separation contingent on supply chain issues? - The company feels confident in executing the separation as planned in the fall, barring any unforeseen events [62] Question: When can we expect the first products from Perceive to market? - The first products are expected within the next 12 months, with ongoing evaluations by customers [67] Question: How close is the software stack to being release-ready? - The tools are nearing completion, setting up for a more aggressive market push [69]

Xperi Holding Corporation (NYSE:XPER) Q3 2021 Earnings Conference Call November 8, 2021 5:00 PM ET Company Participants Geri Weinfeld - VP IR Jon Kirchner - CEO Robert Andersen - CFO Samir Armaly - President, IP Licensing Conference Call Participants Hamed Khorsand - BWS Financial Sam Peterman - Craig-Hallum Capital Group Matthew Galinko - Maxim Group Michael Cohen - MDC Financial Research Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Xperi Third Quarter Fiscal Year 2021 ...

XPERI Q2 2021 INVESTOR DECK August 3, 2021 Safe Harbor This document 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 Xperi Holding Corporation's (the "Company") current expectations, estimates and projections about the Company's financial results, forecasts, and business outlook, growth expe ...

Financial Data and Key Metrics Changes - Revenue for Q2 2021 was $222.3 million, down 4.7% year-over-year, primarily due to declines in semi IP and Pay-TV product business, partially offset by growth in media IP, Connected Car, and Consumer Experience markets [9][10] - Operating cash flow was $56.3 million, and adjusted free cash flow was $56.7 million, with $51 million of debt paid down and $10 million used for stock buybacks [10][30] - Non-GAAP earnings per share for Q2 was $0.61, with 104.9 million basic shares outstanding [28] Business Line Data and Key Metrics Changes - IP licensing revenue was $101.8 million, with media IP revenue up more than 40% year-over-year, driven by Comcast license and renewals [12] - Total product revenue was $120.4 million, up 6% year-over-year, with Consumer Experience revenue at $46.9 million, up 12% year-over-year, driven by TiVo Stream 4K sales [17] - Connected Car revenue was $19.5 million, up 53% year-over-year, with 15 new models launched featuring HD Radio technology [20] Market Data and Key Metrics Changes - Pay-TV revenue was $54 million, down 9% year-over-year, primarily due to subscriber churn [22] - The company continues to see strong subscriber growth for its IPTV service, which grew close to 100% quarter-over-quarter [23] Company Strategy and Development Direction - The company is focused on expanding its IP business, particularly in the OTT area, and has made significant progress in licensing agreements with major players like Google and Fox [13][16] - The acquisition of MobiTV is expected to accelerate IPTV conversions and profitable revenue growth, expanding the addressable market [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in exceeding the $350 million average annual baseline for IP revenue this year, with over $100 million of annual IP revenue coming from outside traditional U.S. Pay-TV [16] - The company reaffirmed its revenue outlook for the year at $860 million to $900 million, considering the impact of semiconductor supply constraints [31] Other Important Information - The company has engaged with 20 OEMs for its Connected Car products and is preparing for the launch of AutoSense with BMW [21] - The company is monitoring the semiconductor supply situation and its potential impact on customer go-to-market plans [24] Q&A Session Summary Question: What are the efforts regarding OTT license renewals and new licenses? - Management indicated a strong pipeline of opportunities for renewals and new licensing in the OTT area, with updates to be provided as progress is made [37][39] Question: Can you discuss MobiTV's customer diversification? - The customer base for MobiTV is largely U.S. centric, with around 100 different customers, and the company aims to leverage this for aggressive IPTV growth [40] Question: Will the drop in hardware COGS be a new level going forward? - Management expects COGS to increase in the second half due to timing of expenses and the MobiTV acquisition [41][42]