Adeia(US:ADEA)2024-02-21 01:05Financial Performance - Q4 2023 revenue reached $86.9 million, with an adjusted EBITDA of $54.1 million[5, 14] - FY 2023 revenue totaled $388.8 million, with an adjusted EBITDA of $262.3 million[7, 14] - The company paid down $29.1 million on its term loan in Q4 2023[5] - The company paid down $148.0 million on its term loan in FY 2023[7] - FY 2024 revenue is projected to be between $380.0 million and $420.0 million[16] - FY 2024 adjusted EBITDA is projected to be between $232.5 million and $262.5 million[16] Business Highlights - The company closed 8 deals in Q4 2023, including 2 with new customers and 6 renewals[5] - The company signed 32 license agreements in FY 2023[7] - The company's patent portfolio grew over 11% in FY 2023[7] Strategic Focus - The company aims to increase long-term revenue through renewals and new customer agreements[9] - The company is focused on growing its patent portfolio through R&D investment[9] - The company intends to deleverage its balance sheet by paying down its term loan[9]