Xperi (US:XPER)2025-02-26 21:15Revenue Performance - Revenue for Q4 FY24 was $122.4 million, compared to $137.2 million in Q4 FY23, reflecting a year-over-year decline of 10.5%[3] - Full-year revenue for 2024 was $493.7 million, down from $1.5213 billion in 2023, indicating a decrease of 67.6% when adjusting for divested businesses[3] - Revenue for Q4 2024 was $122.362 million, a decrease of 10.8% from $137.233 million in Q4 2023[22] - Total revenue for the year ended December 31, 2024, is projected to show significant growth, reflecting the impact of recent divestitures and restructuring efforts[33] Profitability and Earnings - Adjusted EBITDA for 2024 was $74.2 million, nearly doubling from $34.7 million in 2023, representing a year-over-year increase of 114.4%[3] - Net income attributable to the Company for Q4 2024 was $46.216 million, compared to a net loss of $24.792 million in Q4 2023[22] - Basic net income per share for Q4 2024 was $1.03, compared to a loss of $0.57 per share in Q4 2023[22] - GAAP net income attributable to the Company for Q4 2024 was $46.216 million, compared to a loss of $24.792 million in Q4 2023[29] - Non-GAAP net income attributable to the Company for Q4 2024 was $17.682 million, up from $5.779 million in Q4 2023[29] - Non-GAAP operating income for Q4 2024 was $17.478 million, compared to $7.134 million in Q4 2023[31] - Non-GAAP adjusted EBITDA for Q4 2024 was $22.711 million, with a margin of 18.6%, compared to a margin of 9.8% in Q4 2023[33] Expenses and Costs - Total operating expenses for Q4 2024 were $136.648 million, down 18.2% from $167.036 million in Q4 2023[22] - Stock-based compensation for Q4 2024 was $15.232 million, down from $17.850 million in Q4 2023[29] - The Company incurred transaction, separation, integration, and restructuring costs of $3.731 million in Q4 2024, compared to $4.145 million in Q4 2023[29] Cash and Assets - Cash and cash equivalents at the end of Q4 2024 were $130.564 million, down from $154.434 million at the end of Q4 2023[26] - Total assets decreased to $667.760 million in 2024 from $673.635 million in 2023[24] - Total liabilities decreased to $238.683 million in 2024 from $286.500 million in 2023[24] - The Company reported a net cash used in operating activities of $55.340 million for the year ended December 31, 2024[26] Subscriber and Market Growth - The company achieved a 37% year-over-year increase in IPTV subscriber households, reaching 2.6 million by the end of 2024[10] - The DTS AutoStage global installed base of vehicles exceeded 10 million, doubling year-over-year, which is expected to create future monetization opportunities[10] - The number of activated Smart TVs with TiVo OS surpassed 2 million, with Sharp Smart TVs now available in the U.S. market[5] - The company signed seven new TiVo Broadband customers in Q4 2024, bringing the cumulative total to 20, enhancing its connected TV monetization efforts[10] Future Projections - For fiscal year 2025, the company projects revenue between $480 million and $500 million, with an adjusted EBITDA margin of 16% to 18%[7] - The company launched the TiVo One Ad Platform, expanding its monetization footprint across TiVo IPTV and Broadband[10]