Adeia(ADEA)2025-05-05 20:05Financial Performance - Revenue for Q1 2025 was $87.7 million, compared to $119.2 million in Q4 2024, reflecting a decrease of approximately 26.4%[6] - Net income for Q1 2025 was $11.8 million, with GAAP diluted EPS at $0.10 and non-GAAP diluted EPS at $0.26[6] - GAAP net income for Q1 2025 was $11,814,000, a significant increase from $899,000 in Q1 2024, representing a growth of 1,215%[25] - Non-GAAP net income for Q1 2025 was $29,157,000, slightly up from $28,271,000 in Q1 2024, an increase of 3.1%[25] - Adjusted EBITDA for Q1 2025 was $47,312,000, down from $50,010,000 in Q1 2024, a decline of 5.4%[29] - GAAP diluted earnings per share for Q1 2025 was $0.10, compared to $0.01 in Q1 2024, a substantial increase of 900%[26] Cash Flow and Assets - The company generated $57.1 million in cash from operations during the quarter[2] - Net cash provided by operating activities for Q1 2025 was $57,139,000, compared to $67,229,000 in Q1 2024, indicating a decrease of 15%[23] - Cash and cash equivalents at the end of Q1 2025 were $84,184,000, up from $78,825,000 at the beginning of the period, an increase of 6.3%[23] - Total current assets increased to $263,253,000 in Q1 2025 from $258,376,000 in Q4 2024, reflecting a growth of 1.7%[21] Debt and Liabilities - The company paid down $17.1 million of its term loan, reducing the outstanding balance to $470 million as of March 31, 2025[5] - Total liabilities decreased to $697,587,000 in Q1 2025 from $701,390,000 in Q4 2024, a reduction of 0.5%[21] Stock and Dividends - A total of $10 million of common stock was repurchased during the quarter, representing 759,724 shares[7] - The company declared a quarterly cash dividend of $0.05 per share, payable on June 17, 2025[8] Guidance and Projections - The company reiterated its 2025 revenue guidance of $390.0 million to $430.0 million[9] - Operating expenses for 2025 are projected to be between $263.0 million and $275.0 million[9] - The company expects GAAP operating expenses for the year ending December 31, 2025, to be between $263 million and $275 million[31] - Non-GAAP net income guidance for the year ending December 31, 2025, is projected to be between $144 million and $167.5 million[33] Business Development - The company signed 10 deals in Q1 2025, including 4 with new customers in growth areas such as social media, OTT, and semiconductors[2] - The worldwide patent portfolio increased by 32% to over 12,750 total patent assets since the company's separation over two years ago[2]