Summary of Xperi (XPER) FY Conference Call - August 27, 2025 Company Overview - Xperi is a technology and solutions provider operating in markets such as connected car, pay TV, consumer electronics, and media platforms, leveraging brands like TiVo, DTS, and IMAX Enhanced [2][4] Core Business Segments 1. **Pay TV** - Xperi provides software and services to cable operators, including interactive programming guides and personalized content discovery [2][3] - Revenue model primarily based on subscriber fees from cable operators in North America and Latin America [3] 2. **Consumer Electronics** - Focuses on audio licensing through DTS, one of the major audio licensors globally [3] - Revenue generated from per unit licensing fees for embedding solutions in various devices [3] 3. **Connected Car** - Offers HD Radio, the sole digital terrestrial radio standard in North America, with licensing fees on a per car basis [4] - Recently developed AutoStage for in-cabin entertainment, targeting advanced advertising and monetization [4][15] 4. **Media Platform** - Developed TiVo OS for smart TVs, focusing on content aggregation and monetization through advertising [5][10] - The TiVo One ad platform connects smart TVs and set-top boxes to monetize consumer engagement [9][10] Growth Potential - The media platform segment is expected to drive significant growth, with a goal of reaching 5 million monthly active users and a $10 average revenue per user (ARPU) [14] - IPTV subscriber growth over 30% in North America and Latin America, with a target of 3 million subscribers by year-end [16] - New product Clear Dialogue, an AI-based dialogue enhancement technology, set to launch in the first half of next year [17] Financial Performance - Revenue for Q3 showed a decline due to minimum guarantees from the previous year, but operating expenses decreased significantly, leading to a slight increase in adjusted EBITDA year-over-year [24][25] - Cash flow is expected to be neutral for the year, with a revenue goal set between $440 million and $460 million [26][27] - Adjusted EBITDA margin target revised to 15-17% due to macroeconomic impacts [27] Strategic Outlook - Xperi aims to build a durable competitive position through its technology-centric business model, leveraging decades of expertise and channel relationships [30] - The company is focused on driving growth in media consumption and enhancing advertiser reach through its platforms [29][30] Key Highlights - Xperi has signed new OEM programs for AutoStage, expanding its footprint in the connected car market [15] - The company has added 80 new broadcasters to support HD Radio, enhancing its automotive ecosystem [15] - Continued relevance of DTS sound technology with contract renewals from major brands like Sony and TCL [16] Conclusion - Xperi is well-positioned for future growth across its diverse business segments, with a strong focus on monetization strategies and technological innovation [30][31]

Q1 2025 Earnings May 7, 2025 Safe Harbor This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding: expectations regarding our future results of operations and financial position, margin expansion and overall growth, including, without limita ...