Xperi (US:XPER)2025-11-05 21:16Financial Performance - Revenue for Q3 FY25 was $111.6 million, compared to $132.9 million in Q3 FY24, reflecting a year-over-year decline of approximately 16%[4] - Non-GAAP net income for Q3 FY25 was $12.8 million, down from $23.3 million in Q3 FY24, representing a decrease of about 45%[4] - Non-GAAP adjusted EBITDA for Q3 FY25 was $23.1 million, with a margin of 20.7%, compared to $31.4 million and 23.7% in Q3 FY24[4] - The company expects full-year revenue guidance of $440 million to $460 million for FY25, with an adjusted EBITDA margin of 15% to 17%[10] - Revenue for the three months ended September 30, 2025, was $111,632,000, a decrease of 16% compared to $132,891,000 for the same period in 2024[28] - Operating loss for the three months ended September 30, 2025, was $(1,362,000), significantly improved from $(18,555,000) in the prior year[28] - Net loss attributable to the Company for the nine months ended September 30, 2025, was $(39,254,000), compared to $(63,833,000) for the same period in 2024, reflecting a 38.7% reduction[32] - Non-GAAP net income attributable to the Company for the three months ended September 30, 2025, was $12,790,000, compared to $23,307,000 in 2024, reflecting a decline of 45%[34] - GAAP net loss for Q3 2025 was $6,107, compared to a loss of $19,831 in Q3 2024[38] Cash Flow and Assets - Cash and cash equivalents decreased to $96,784,000 as of September 30, 2025, down from $130,564,000 at the end of 2024[30] - Total current liabilities decreased to $113,047,000 as of September 30, 2025, from $185,349,000 at the end of 2024, indicating improved liquidity management[30] - Total assets decreased to $628,819,000 as of September 30, 2025, from $667,760,000 at the end of 2024, indicating a contraction in the asset base[30] - The Company reported a net cash used in operating activities of $(4,615,000) for the nine months ended September 30, 2025, compared to $(56,569,000) in 2024, showing significant improvement[32] Workforce and Cost Management - The workforce reduction plan will impact approximately 250 employees, with expected annualized savings of $30 million to $35 million[8] - Stock-based compensation expense for the nine months ended September 30, 2025, was $32,069,000, down from $45,309,000 in the same period of 2024[32] User Metrics and Market Growth - Achieved 30% sequential growth, reaching 4.8 million monthly active users on the TiVo One platform[2] - Average Revenue Per User (ARPU) for the TiVo One platform was $8.75 as of September 30, 2025[9] - IPTV subscribers increased by 32% year-over-year, reaching 3.2 million households[9] - The AutoStage platform has expanded to over 13 million vehicles, indicating strong growth in the connected car market[3] Partnerships and Revenue Opportunities - The company signed multiple monetization partnerships, including agreements with Titan Ads and Comscore, to enhance revenue opportunities[9] Expense Management - Interest expense decreased to $934 in Q3 2025 from $1,123 in Q3 2024[38] - Provision for income taxes increased to $4,805 in Q3 2025 from $2,899 in Q3 2024[38] - Stock-based compensation decreased to $9,640 in Q3 2025 from $15,249 in Q3 2024[38] - Depreciation expense increased to $3,470 in Q3 2025 from $2,918 in Q3 2024[38] - Amortization of intangible assets decreased to $7,987 in Q3 2025 from $10,934 in Q3 2024[38] - Transaction, integration, and restructuring costs significantly reduced to $233 in Q3 2025 from $7,961 in Q3 2024[38] - Severance and retention costs decreased to $1,006 in Q3 2025 from $9,184 in Q3 2024[38]