Dolby Laboratories (NYSE:DLB) Q4 2025 Earnings Call November 18, 2025 05:00 PM ET Company ParticipantsPatrick Sholl - VPPeter Goldmacher - VP of Investor RelationsRobert Park - CFOKevin Yeaman - CEOConference Call ParticipantsSteve Frankel - Director of Research and Senior Research AnalystVikram Kesavabhotla - Senior Research AnalystRalph Schackart - Research AnalystOperatorThank you for standing by. Welcome to the Dolby Laboratories conference call discussing fourth quarter fiscal year 2025 results. During ...

Core Insights - Dolby Laboratories reported strong financial results for Q4 and fiscal year 2025, highlighting growth in Dolby Atmos, Dolby Vision, and imaging patents, along with an expanded addressable market [1][7]. Financial Highlights - Total revenue for Q4 2025 was $307 million, a slight increase from $305 million in Q4 2024 [7]. - GAAP net income for Q4 2025 was $49 million, or $0.51 per diluted share, compared to $59 million, or $0.61 per diluted share in Q4 2024 [7]. - Non-GAAP net income for Q4 2025 was $96 million, or $0.99 per diluted share, up from $78 million, or $0.81 per diluted share in Q4 2024 [7]. - Full year revenue for fiscal 2025 reached $1.35 billion, compared to $1.27 billion in fiscal 2024 [7]. - GAAP net income for the full year was $255 million, or $2.62 per diluted share, down from $262 million, or $2.69 per diluted share in fiscal 2024 [7]. - Non-GAAP net income for the full year was $414 million, or $4.24 per diluted share, compared to $369 million, or $3.79 per diluted share in fiscal 2024 [7]. Business Developments - Dolby announced a cash dividend of $0.36 per share, payable on December 10, 2025 [4]. - The company repurchased approximately 479,000 shares for about $35 million, with $277 million remaining in stock repurchase authorization [7]. - Dolby Vision 2 was introduced, enhancing the capabilities of modern displays and providing new tools for artists [7]. - Partnerships were established with automakers in India, China, and Vietnam, and new products featuring Dolby technologies were launched by major brands [7]. Financial Outlook - For Q1 2026, total revenue is estimated to range from $315 million to $345 million, with licensing revenue expected between $290 million and $320 million [8]. - Full year 2026 revenue is projected to be between $1.39 billion and $1.44 billion, with licensing revenue estimated between $1.285 billion and $1.335 billion [8]. - Gross margins are anticipated to be approximately 88% on a GAAP basis and 90% on a non-GAAP basis [8].