Adeia(US:ADEA)2025-11-03 13:06Financial Performance - Third quarter revenue was $87.3 million, up from $85.7 million in the previous quarter, reflecting a 1.9% increase[5] - Non-Pay-TV recurring revenue grew 31% year-over-year in the third quarter, indicating strong performance in key growth areas[2] - Adjusted EBITDA was $50.7 million, resulting in an impressive adjusted EBITDA margin of 58%[5] - GAAP net income for the third quarter was $8.8 million, with diluted EPS of $0.08[5] - Net income for the nine months ended September 30, 2025, increased to $37,364 million, up 30.7% from $28,595 million for the same period in 2024[23] - Non-GAAP net income for the nine months ended September 30, 2025, was $89,239 million, slightly down from $89,751 million in the same period of 2024[25] - GAAP diluted earnings per share for the nine months ended September 30, 2025, was $0.33, compared to $0.25 for the same period in 2024, reflecting a 32% increase[26] - GAAP net income for the year ended December 31, 2025, is projected to be between $52.4 million and $71.6 million[33] - Non-GAAP net income is expected to range from $127.4 million to $139.8 million[33] Expenses and Liabilities - Total current liabilities increased to $75,345 million as of September 30, 2025, from $73,106 million on December 31, 2024, an increase of 3.1%[21] - Adjusted EBITDA for the nine months ended September 30, 2025, was $143,668 million, down from $154,065 million in the same period of 2024, a decrease of 6.7%[29] - The company expects GAAP operating expenses for the year ended December 31, 2025, to be in the range of $260.0 million to $266.0 million[31] - Stock-based compensation expense for the nine months ended September 30, 2025, was $25,627 million, up from $19,156 million in the same period of 2024, an increase of 33.0%[23] - Total non-GAAP operating expenses are estimated to be between $100.0 million and $102.0 million[33] - Stock-based compensation expense is projected to be between $34.0 million and $35.0 million[36] - Separation and related costs incurred post-separation are estimated at $9.0 million to $10.0 million[36] - Amortization expense is expected to remain constant at $57.0 million[36] - Interest expense is projected to be between $40.0 million and $41.0 million[36] - Income tax expense is estimated to range from $7.9 million to $13.1 million[36] Business Development and Guidance - The company signed 20 license agreements with new customers since separation, highlighting ongoing business development efforts[1] - The company updated its 2025 revenue guidance to a range of $360.0 million to $380.0 million, down from the previous range of $390.0 million to $430.0 million[8] Assets and Equity - Total assets decreased from $1,097,961 million on December 31, 2024, to $1,068,668 million on September 30, 2025, representing a decline of approximately 2.5%[21] - The total stockholders' equity increased to $413,722 million as of September 30, 2025, from $396,571 million on December 31, 2024, an increase of 4.3%[21] Awards and Legal Matters - The company filed patent infringement litigation against AMD, asserting unauthorized use of its semiconductor portfolio[2] - The company received a 'Best of Show' award for its hybrid bonding technology at the Future of Memory and Storage conference[5] Dividends - A quarterly cash dividend of $0.05 per share was declared, payable on December 15, 2025[7]