Adeia Announces First Quarter 2024 Financial Results
Adeia Announces First Quarter 2024 Financial Results
Paid down $40 million of debt in the first quarter and nearly $200 million since separation
在第一季度偿还了4000万美元的债务,自分离以来偿还了近2亿美元的债务
Generated over $67 million in cash from operations in the first quarter
第一季度从运营中产生了超过6700万美元的现金
SAN JOSE, Calif., May 06, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (the "Company" or "Adeia") today announced financial results for the first quarter ended March 31, 2024.
加利福尼亚州圣何塞,2024年5月6日(环球新闻专线)——Adeia Inc.(纳斯达克股票代码:ADEA)(“公司” 或 “Adeia”)今天公布了截至2024年3月31日的第一季度财务业绩。
"The results of our first quarter demonstrate the strength of our business model and continued execution as we generated over $67 million in cash from operations," said Paul E. Davis, chief executive officer of Adeia. "Our first quarter was very active as we closed deals with ten customers across a diverse mix of end markets and geographies. We further expanded our patent portfolios both through strategic acquisitions and R&D investments focused on emerging trends such as generative AI and the challenges of Moore's Law facing the semiconductor industry. Additionally, we remain on-track to achieving our strategic objectives for the year as we made significant progress on key customer engagements in markets that will drive future growth, including in OTT, adjacent media markets, and in our semiconductor business."
Adeia首席执行官保罗·戴维斯表示:“我们第一季度的业绩表明了我们商业模式的力量和持续执行力,因为我们从运营中获得了超过6700万美元的现金。”“我们的第一季度非常活跃,我们与来自不同终端市场和地区的十个客户达成了交易。我们通过战略收购和研发投资,进一步扩大了我们的专利组合,这些投资侧重于生成式人工智能和半导体行业面临的摩尔定律挑战等新兴趋势。此外,我们在推动未来增长的市场(包括OTT、邻近媒体市场和半导体业务)的关键客户参与方面取得了重大进展,我们仍在按计划实现今年的战略目标。”
First Quarter Financial Highlights
第一季度财务摘要
- Revenue was $83.4 million as compared to $86.9 million in the fourth quarter of 2023
- GAAP diluted earnings per share (EPS) was $0.01 and non-GAAP diluted EPS was $0.25
- GAAP net income was $0.9 million and adjusted EBITDA was $50.0 million
- Cash flows from operations was $67.2 million
- Paid down $40.1 million on our term loan
- 收入为8,340万美元,而2023年第四季度为8,690万美元
- GAAP摊薄后每股收益(EPS)为0.01美元,非公认会计准则摊薄后每股收益为0.25美元
- GAAP净收入为90万美元,调整后的息税折旧摊销前利润为5,000万美元
- 运营现金流为6,720万美元
- 还清了我们的定期贷款4,010万美元
Business Highlights
业务亮点
- Signed 10 agreements with a broad mix of customers in Pay-TV, OTT, semiconductor and consumer electronics in the United States, Europe, Japan and South Korea
- Paramount, a leading multi-brand OTT provider, signed a multi-year renewal for access to our media portfolio
- Altimedia, a user experience (UX) platform provider in South Korea, signed a multi-year renewal for access to our media portfolio
- Magenta Telekom, a new Pay-TV customer in Austria, signed a long-term agreement for access to our media portfolio
- Astound Broadband, a new Pay-TV and broadband customer in the United States, signed a long-term agreement for access to our media portfolio
- 与美国、欧洲、日本和韩国的付费电视、OTT、半导体和消费电子领域的广泛客户签署了10份协议
- 领先的多品牌OTT提供商派拉蒙签署了多年续约协议,以访问我们的媒体组合
- 韩国用户体验(UX)平台提供商Altimedia签署了为期多年的续约协议,以访问我们的媒体组合
- 奥地利新的付费电视客户Magenta Telekom签署了一项长期协议,以访问我们的媒体组合
- 美国新的付费电视和宽带客户Astound Broadband签署了一项长期协议,以访问我们的媒体组合
Capital Allocation
资本分配
During the quarter, the Company made $40.1 million in principal payments towards its term loan, bringing the outstanding balance to $561.1 million as of March 31, 2024.
在本季度,该公司支付了4,010万美元的定期贷款本金,使截至2024年3月31日的未偿余额达到5.611亿美元。
On March 26, 2024, the Company distributed $5.4 million to stockholders of record on March 12, 2024, for a quarterly cash dividend of $0.05 per share of common stock.
2024年3月26日,公司向2024年3月12日登记在册的股东分配了540万美元,季度现金股息为普通股每股0.05美元。
On April 25, 2024, the Board of Directors declared a dividend of $0.05 per share of common stock, payable on June 18, 2024, to stockholders of record on May 28, 2024.
2024 年 4 月 25 日,董事会宣布向于 2024 年 5 月 28 日登记在册的股东派发每股普通股 0.05 美元的股息,该股息将于 2024 年 6 月 18 日支付。
Financial Outlook
财务展望
The Company reiterates its full year 2024 outlook as follows:
公司重申其2024年全年展望如下:
Category (in millions, except for tax rate) |
2024 GAAP Outlook |
2024 Non-GAAP Outlook |
|||
Revenue | $380.0 − 420.0 | $380.0 − 420.0 | |||
Operating expenses(1) | $254.0 − 268.0 | $150.0 − 160.0 | |||
Interest expense | $54.0 − 57.0 | $54.0 − 57.0 | |||
Other income | $5.0 − 6.0 | $5.0 − 6.0 | |||
Tax rate | 15% − 30% | 23% | |||
Net income(2) | $65.4 − 70.7 | $139.4 − 160.9 | |||
Adjusted EBITDA(2) | N/A | $232.5 − 262.5 | |||
Diluted shares outstanding | 114.0 − 115.0 | 114.0 − 115.0 |
类别 (以百万计,税率除外) |
2024 GAAP 展望 |
2024 非公认会计准则展望 |
|||
收入 | $380.0 − 420.0 | $380.0 − 420.0 | |||
运营费用(1) | 254.0 美元 − 268.0 | $150.0 − 160.0 | |||
利息支出 | $54.0 − 57.0 | $54.0 − 57.0 | |||
其他收入 | 5.0-6.0 美元 | 5.0-6.0 美元 | |||
税率 | 15% − 30% | 23% | |||
净收入(2) | $65.4 − 70.7 | $139.4 − 160.9 | |||
调整后 EBITDA(2) | 不适用 | 232.5 美元 − 262.5 | |||
摊薄后的流通股票 | 114.0 − 115.0 | 114.0 − 115.0 |
(1) See tables for reconciliation of GAAP to non-GAAP operating expenses
(1) 参见 GAAP 与非 GAAP 运营费用对账表
(2) See tables for reconciliation of GAAP net income to (i) non-GAAP net income and (ii) adjusted earnings before interest expense, income taxes, depreciation and amortization (adjusted EBITDA)
(2) 参见GAAP净收入与(i)非公认会计准则净收入和(ii)扣除利息支出、所得税、折旧和摊销前的调整后收益(调整后的息税折旧摊销前利润)的对账表
Conference Call Information
电话会议信息
The Company will hold its first quarter 2024 earnings conference call at 2:00 PM Pacific Time (5:00 PM Eastern Time) on Monday, May 6, 2024. To access the call in the U.S., please dial +1 (888) 660-6411, and for international callers, dial +1 (929) 203-0849. All participants should dial in 15 minutes prior to the start of the conference call. The Company also suggests utilizing the webcast link to access the live call and the replay at Q1 2024 Earnings Call Webcast.
该公司将于2024年5月6日星期一太平洋时间下午2点(美国东部时间下午5点)举行2024年第一季度财报电话会议。要在美国接听电话,请拨打 +1 (888) 660-6411;对于国际来电者,请拨打 +1 (929) 203-0849。所有参与者应在电话会议开始前 15 分钟拨号。该公司还建议利用网络直播链接访问直播和重播 2024 年第一季度财报电话会议网络直播。
Safe Harbor Statement
安全港声明
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company's current expectations, assumptions, estimates and projections that involve risks and uncertainties. In this context, forward-looking statements often address expected future business, financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "could," "seek," "see," "will," "may," "would," "might," "potentially," "estimate," "continue," "target," similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond the Company's control, and are not guarantees of future results. Forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: the Company's ability to implement its business strategy; the Company's ability to enter into new and renewal license agreements with customers on favorable terms; the Company's ability to retain and hire key personnel; uncertainty as to the long-term value of the Company's common stock; legislative, regulatory and economic developments affecting the Company's business; general economic and market developments and conditions; the Company's ability to grow and expand its patent portfolios; changes in technology and development of new technology in the industries in which in which the Company operates; the evolving legal, regulatory and tax regimes under which the Company operates; unforeseen liabilities and expenses; risks associated with the Company's indebtedness; the Company's ability to achieve the intended benefits of, and its ability to recognize the anticipated tax treatment of, the spin-off of its product business; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, natural disasters and future outbreaks or pandemics, each of which may have an adverse impact on the Company's business, results of operations, and financial condition. These risks, as well as other risks associated with the Company's business, are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. While the list of factors presented here is, and the list of factors presented in the Company's filings with the SEC are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.
本新闻稿包含联邦证券法所指的 “前瞻性陈述”,包括经修订的1933年《证券法》第27A条和经修订的1934年《证券交易法》第21E条。这些前瞻性陈述基于公司截至本文发布之日获得的信息,以及公司当前涉及风险和不确定性的预期、假设、估计和预测。在这种情况下,前瞻性陈述通常涉及预期的未来业务、财务业绩和财务状况,通常包含 “期望”、“预测”、“打算”、“计划”、“相信”、“可能”、“寻找”、“看见”、“将”、“可能”、“可能”、“可能”、“可能会”、“估计”、“继续”、“目标” 等词语,类似的表述或否定词这些词语或其他表示未来事件或结果不确定性的可比术语。就其性质而言,所有前瞻性陈述都涉及涉及风险和不确定性的问题,其中许多是公司无法控制的,也不能保证未来的业绩。前瞻性陈述受风险、不确定性和假设的影响,这些风险、不确定性和假设可能导致实际结果与任何前瞻性陈述中表达的结果存在重大差异。因此,有或将会有重要因素可能导致实际业绩与此类陈述中显示的结果存在重大差异,因此,您不应过分依赖任何此类陈述,在依赖前瞻性陈述时必须谨慎行事。可能导致这种差异的重要风险因素包括但不限于:公司实施其业务战略的能力;公司以优惠条件与客户签订新的和续订许可协议的能力;公司留住和雇用关键人员的能力;公司普通股长期价值的不确定性;影响公司业务的立法、监管和经济发展;总体经济和市场发展及状况;公司的增长能力并扩大其专利投资组合;公司经营所在行业的技术变化和新技术的开发;公司运营所依据的法律、监管和税收制度不断演变;不可预见的负债和支出;与公司债务相关的风险;公司实现产品业务分拆预期收益的能力及其识别预期税收待遇的能力;灾难性事件的不可预测性和严重性,包括,但是不限于恐怖主义行为或爆发战争或敌对行动、自然灾害以及未来的疫情或流行病,每种情况都可能对公司的业务、经营业绩和财务状况产生不利影响。公司向美国证券交易委员会(“SEC”)提交的文件中对这些风险以及与公司业务相关的其他风险进行了更全面的讨论,包括公司的10-K表年度报告和10-Q表季度报告。尽管此处列出的因素清单以及公司向美国证券交易委员会提交的文件中列出的因素清单被认为具有代表性,但不应将此类清单视为对所有潜在风险和不确定性的完整陈述。未列出的因素可能会给前瞻性陈述的实现带来额外的重大障碍。
Causes of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on the Company's consolidated financial condition, results of operations, liquidity or trading price of common stock. The Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
与前瞻性陈述中的预期相比,业绩出现重大差异的原因可能包括业务中断、运营问题、财务损失、对第三方的法律责任和类似风险,其中任何风险都可能对公司的合并财务状况、经营业绩、流动性或普通股交易价格产生重大不利影响。除非证券和其他适用法律另有要求,否则如果情况发生变化,公司不承担任何义务公开对任何前瞻性陈述进行修订或更新,无论是由于新信息、未来发展还是其他原因。
About Adeia Inc.
关于 Adeia Inc.
Adeia is a leading R&D and intellectual property (IP) licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia's fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia's IP portfolios power the connected devices that touch the lives of millions of people around the world every day as they live, work and play. For more, please visit www.adeia.com.
Adeia 是一家领先的研发和知识产权 (IP) 许可公司,致力于加快创新技术在媒体和半导体行业的采用。Adeia 的基本创新为塑造和提升数字娱乐和电子未来的技术解决方案奠定了基础。Adeia 的知识产权组合为联网设备提供动力,这些设备每天影响着全球数百万人的生活、工作和娱乐生活。欲了解更多,请访问 www.adeia.com。
Non-GAAP Financial Measures
非公认会计准则财务指标
In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company's earnings release contains non-GAAP financial measures adjusted, where applicable, for either one-time or ongoing non-cash acquired intangibles amortization charges, costs related to actual or planned business combinations including transaction fees, integration costs, severance, facility closures, and retention bonuses, separation costs, all forms of stock-based compensation, loss on debt extinguishment, expensed debt refinancing costs, impairment of intangible assets, impact of certain foreign currency adjustments, discontinued operations and related tax effects. In addition, adjusted EBITDA adjusts for recurring charges of interest expense, income taxes, depreciation and amortization. Management believes that the non-GAAP measures used in this release provide investors with important perspectives on the Company's ongoing business and financial performance and are helpful to provide investors with an understanding of our core operating results reflecting our normal business operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, the terms used in this press release, such as adjusted EBITDA, non-GAAP operating expenses, non-GAAP net income and non-GAAP diluted earnings per share (EPS) do not have a standardized meaning. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures in the tables attached hereto. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. All financial data is presented on a GAAP basis except where the Company indicates its presentation is on a non-GAAP basis.
除了披露根据美国公认会计原则(GAAP)计算的财务业绩外,公司的财报还包含非公认会计准则财务指标(如适用),包括一次性或持续的非现金收购无形资产摊销费用、与实际或计划业务合并相关的成本,包括交易费、整合成本、遣散费、设施关闭和留存奖金、离职成本、所有形式的股票薪酬、债务清偿损失,支出性债务再融资成本、无形资产减值、某些外币调整的影响、已终止的业务和相关的税收影响。此外,调整后的息税折旧摊销前利润会根据利息支出、所得税、折旧和摊销等经常性费用进行调整。管理层认为,本新闻稿中使用的非公认会计准则指标为投资者提供了有关公司持续业务和财务业绩的重要视角,也有助于让投资者了解反映我们正常业务运营的核心经营业绩。公司披露的非公认会计准则财务指标不应被视为替代或优于根据公认会计原则计算的财务指标。我们对非公认会计准则财务指标的使用有一定的局限性,因为我们使用的非公认会计准则财务指标可能无法与其他公司报告的财务指标直接比较。例如,本新闻稿中使用的术语,例如调整后的息税折旧摊销前利润、非公认会计准则运营费用、非公认会计准则净收益和非公认会计准则摊薄后每股收益(EPS),没有标准化含义。其他公司可能使用相同或相似的衡量标准,但不包括不同的项目,这可能无法为投资者提供我们与其他公司的业绩相似的看法。我们试图通过在本文所附表格中提供非公认会计准则财务指标与最直接可比的GAAP指标的详细对账来弥补我们非公认会计准则列报的局限性。鼓励投资者审查相关的GAAP财务指标,以及这些非GAAP财务指标与其最直接可比的GAAP财务指标的对账情况。所有财务数据均按公认会计原则列报,除非公司表示其列报基于非公认会计准则。
Set forth below are reconciliations of the Company's reported and forecasted GAAP to non-GAAP financial metrics.
下文列出了公司报告和预测的公认会计原则与非公认会计准则财务指标的对账情况。
Investor Contact:
投资者联系人:
Chris Chaney
Vice President, Investor Relations
IR@adeia.com
Chris Chaney
投资者关系副总裁
IR@adeia.com
– Tables Follow –
— 表格关注 —
SOURCE: ADEIA INC.
ADEA
来源:ADEIA INC.
区域
ADEIA INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
ADEIA INC.
简明合并运营报表
(以千计,每股金额除外)
(未经审计)
Three Months Ended | ||||||||
March 31, 2024 |
March 31, 2023 |
|||||||
Revenue | $ | 83,405 | $ | 117,307 | ||||
Operating expenses: | ||||||||
Research and development | 13,925 | 13,011 | ||||||
Selling, general and administrative | 24,029 | 22,862 | ||||||
Amortization expense | 23,157 | 23,689 | ||||||
Litigation expense | 2,930 | 2,622 | ||||||
Total operating expenses | 64,041 | 62,184 | ||||||
Operating income | 19,364 | 55,123 | ||||||
Interest expense | (14,175) | (15,938) | ||||||
Other income and expense, net | 1,400 | 1,620 | ||||||
Income before income taxes | 6,589 | 40,805 | ||||||
Provision for income taxes | 5,690 | 11,784 | ||||||
Net income | $ | 899 | $ | 29,021 | ||||
Net income per share: | ||||||||
Basic | $ | 0.01 | $ | 0.27 | ||||
Diluted | $ | 0.01 | $ | 0.26 | ||||
Weighted average number of shares used in per share calculations: | ||||||||
Basic | 107,765 | 105,585 | ||||||
Diluted | 112,977 | 113,447 |
三个月已结束 | ||||||||
3月31日 2024 |
3月31日 2023 |
|||||||
收入 | $ | 83,405 | $ | 117,307 | ||||
运营费用: | ||||||||
研究和开发 | 13,925 | 13,011 | ||||||
销售、一般和管理 | 24,029 | 22,862 | ||||||
摊销费用 | 23,157 | 23,689 | ||||||
诉讼费用 | 2,930 | 2,622 | ||||||
运营费用总额 | 64,041 | 62,184 | ||||||
营业收入 | 19,364 | 55,123 | ||||||
利息支出 | (14,175) | (15,938) | ||||||
其他收入和支出,净额 | 1,400 | 1,620 | ||||||
所得税前收入 | 6,589 | 40,805 | ||||||
所得税准备金 | 5,690 | 11,784 | ||||||
净收入 | $ | 899 | $ | 29,021 | ||||
每股净收益: | ||||||||
基本 | $ | 0.01 | $ | 0.27 | ||||
稀释 | $ | 0.01 | $ | 0.26 | ||||
每股计算中使用的加权平均股数: | ||||||||
基本 | 107,765 | 105,585 | ||||||
稀释 | 112,977 | 113,447 |
ADEIA INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
ADEIA INC.
简明的合并资产负债表
(以千计)
(未经审计)
March 31, | December 31, | |||||||
2024 | 2023 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 58,024 | $ | 54,560 | ||||
Marketable securities | 30,963 | 29,012 | ||||||
Accounts receivable, net | 26,842 | 39,651 | ||||||
Unbilled contracts receivable | 82,267 | 74,919 | ||||||
Other current assets | 8,025 | 7,700 | ||||||
Total current assets | 206,121 | 205,842 | ||||||
Long-term unbilled contracts receivable | 65,100 | 73,843 | ||||||
Property and equipment, net | 6,784 | 6,971 | ||||||
Operating lease right-of-use assets | 9,425 | 9,484 | ||||||
Intangible assets, net | 330,991 | 347,172 | ||||||
Goodwill | 313,660 | 313,660 | ||||||
Long-term income tax receivable | 116,359 | 120,338 | ||||||
Other long-term assets | 30,900 | 28,246 | ||||||
Total assets | $ | 1,079,340 | $ | 1,105,556 | ||||
LIABILITIES AND EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 4,855 | $ | 9,623 | ||||
Accrued liabilities | 13,842 | 19,138 | ||||||
Current portion of long-term debt, net | 36,926 | 66,145 | ||||||
Deferred revenue | 36,981 | 7,132 | ||||||
Total current liabilities | 92,604 | 102,038 | ||||||
Deferred revenue, less current portion | 16,535 | 17,672 | ||||||
Long-term debt, net | 509,406 | 519,550 | ||||||
Noncurrent operating lease liabilities | 9,693 | 9,730 | ||||||
Long-term income tax payable | 82,167 | 81,834 | ||||||
Other long-term liabilities | 18,984 | 18,110 | ||||||
Total liabilities | 729,389 | 748,934 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity: | ||||||||
Preferred stock | — | — | ||||||
Common stock | 122 | 121 | ||||||
Additional paid-in capital | 635,552 | 635,331 | ||||||
Treasury stock at cost | (230,226) | (222,497) | ||||||
Accumulated other comprehensive loss | (71) | (8) | ||||||
Accumulated deficit | (55,426) | (56,325) | ||||||
Total stockholders' equity | 349,951 | 356,622 | ||||||
Total liabilities and equity | $ | 1,079,340 | $ | 1,105,556 |
3月31日 | 十二月三十一日 | |||||||
2024 | 2023 | |||||||
资产 | ||||||||
流动资产: | ||||||||
现金和现金等价物 | $ | 58,024 | $ | 54,560 | ||||
有价证券 | 30,963 | 29,012 | ||||||
应收账款,净额 | 26,842 | 39,651 | ||||||
未开票的应收合同 | 82,267 | 74,919 | ||||||
其他流动资产 | 8,025 | 7,700 | ||||||
流动资产总额 | 206,121 | 205,842 | ||||||
长期未开票的应收合同 | 65,100 | 73,843 | ||||||
财产和设备,净额 | 6,784 | 6,971 | ||||||
经营租赁使用权资产 | 9,425 | 9,484 | ||||||
无形资产,净额 | 330,991 | 347,172 | ||||||
善意 | 313,660 | 313,660 | ||||||
应收长期所得税 | 116,359 | 120,338 | ||||||
其他长期资产 | 30,900 | 28,246 | ||||||
总资产 | $ | 1,079,340 | $ | 1,105,556 | ||||
负债和权益 | ||||||||
流动负债: | ||||||||
应付账款 | $ | 4,855 | $ | 9,623 | ||||
应计负债 | 13,842 | 19,138 | ||||||
长期债务的流动部分,净额 | 36,926 | 66,145 | ||||||
递延收入 | 36,981 | 7,132 | ||||||
流动负债总额 | 92,604 | 102,038 | ||||||
递延收入,减去流动部分 | 16,535 | 17,672 | ||||||
长期债务,净额 | 509,406 | 519,550 | ||||||
非流动经营租赁负债 | 9,693 | 9,730 | ||||||
应缴长期所得税 | 82,167 | 81,834 | ||||||
其他长期负债 | 18,984 | 18,110 | ||||||
负债总额 | 729,389 | 748,934 | ||||||
承付款和意外开支 | ||||||||
股东权益: | ||||||||
优先股 | — | — | ||||||
普通股 | 122 | 121 | ||||||
额外的实收资本 | 635,552 | 635,331 | ||||||
按成本计算的库存股 | (230,226) | (222,497) | ||||||
累计其他综合亏损 | (71) | (8) | ||||||
累计赤字 | (55,426) | (56,325) | ||||||
股东权益总额 | 349,951 | 356,622 | ||||||
负债和权益总额 | $ | 1,079,340 | $ | 1,105,556 |
ADEIA INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
ADEIA INC.
简明的合并现金流量表
(以千计)
(未经审计)
Three Months Ended | ||||||||
March 31, 2024 |
March 31, 2023 |
|||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 899 | $ | 29,021 | ||||
Adjustments to reconcile net income to net cash from operating activities: | ||||||||
Depreciation of property and equipment | 520 | 384 | ||||||
Amortization of intangible assets | 23,157 | 23,689 | ||||||
Stock-based compensation expense | 5,145 | 3,640 | ||||||
Deferred income tax | (3,048) | 2,373 | ||||||
Amortization of debt issuance costs | 762 | 1,170 | ||||||
Other | (298) | 600 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | 12,812 | 20,951 | ||||||
Unbilled contracts receivable | 1,395 | (27,612) | ||||||
Other assets | 4,107 | 4,592 | ||||||
Accounts payable | (2,808) | (4,468) | ||||||
Accrued and other liabilities | (4,126) | (1,821) | ||||||
Deferred revenue | 28,712 | 10,833 | ||||||
Net cash from operating activities | 67,229 | 63,352 | ||||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (793) | (390) | ||||||
Purchases of intangible assets | (8,476) | — | ||||||
Purchases of short-term investments | (11,169) | — | ||||||
Proceeds from maturities of investments | 9,450 | — | ||||||
Net cash from investing activities | (10,988) | (390) | ||||||
Cash flows from financing activities: | ||||||||
Dividends paid | (5,420) | (5,314) | ||||||
Repayment of debt | (40,125) | (83,625) | ||||||
Proceeds from employee stock purchase program and exercise of stock options | 497 | 411 | ||||||
Repurchases of common stock for tax withholdings on equity awards | (7,729) | (6,560) | ||||||
Net cash from financing activities | (52,777) | (95,088) | ||||||
Net increase (decrease) in cash and cash equivalents | 3,464 | (32,126) | ||||||
Cash and cash equivalents at beginning of period | 54,560 | 114,555 | ||||||
Cash and cash equivalents at end of period | $ | 58,024 | $ | 82,429 |
三个月已结束 | ||||||||
3月31日 2024 |
3月31日 2023 |
|||||||
来自经营活动的现金流: | ||||||||
净收入 | $ | 899 | $ | 29,021 | ||||
为核对净收益与经营活动净现金而进行的调整: | ||||||||
财产和设备的折旧 | 520 | 384 | ||||||
无形资产的摊销 | 23,157 | 23,689 | ||||||
股票薪酬支出 | 5,145 | 3,640 | ||||||
递延所得税 | (3,048) | 2,373 | ||||||
债务发行成本的摊销 | 762 | 1,170 | ||||||
其他 | (298) | 600 | ||||||
运营资产和负债的变化: | ||||||||
应收账款 | 12,812 | 20,951 | ||||||
未开票的应收合同 | 1,395 | (27,612) | ||||||
其他资产 | 4,107 | 4592 | ||||||
应付账款 | (2,808) | (4,468) | ||||||
应计负债和其他负债 | (4,126) | (1,821) | ||||||
递延收入 | 28,712 | 10,833 | ||||||
经营活动产生的净现金 | 67,229 | 63,352 | ||||||
来自投资活动的现金流: | ||||||||
购买财产和设备 | (793) | (390) | ||||||
购买无形资产 | (8,476) | — | ||||||
购买短期投资 | (11,169) | — | ||||||
投资到期所得收益 | 9,450 | — | ||||||
来自投资活动的净现金 | (10,988) | (390) | ||||||
来自融资活动的现金流: | ||||||||
已支付的股息 | (5,420) | (5,314) | ||||||
偿还债务 | (40,125) | (83,625) | ||||||
员工股票购买计划和行使股票期权的收益 | 497 | 411 | ||||||
回购普通股以预扣股票奖励的税款 | (7,729) | (6,560) | ||||||
来自融资活动的净现金 | (52,777) | (95,088) | ||||||
现金和现金等价物的净增加(减少) | 3,464 | (32,126) | ||||||
期初的现金和现金等价物 | 54,560 | 114,555 | ||||||
期末的现金和现金等价物 | $ | 58,024 | $ | 82,429 |
ADEIA INC.
GAAP TO NON-GAAP RECONCILIATIONS
(in thousands, except per share amounts)
(unaudited)
ADEIA INC.
公认会计准则与非公认会计准则对账
(以千计,每股金额除外)
(未经审计)
Net income | ||||||||
Three Months Ended | ||||||||
March 31, 2024 |
March 31, 2023 |
|||||||
GAAP net income | $ | 899 | $ | 29,021 | ||||
Adjustments to GAAP net income: | ||||||||
Stock-based compensation expense: | ||||||||
Research and development | 809 | 594 | ||||||
Selling, general and administrative | 4,336 | 3,046 | ||||||
Amortization expense | 23,157 | 23,689 | ||||||
Separation and other related costs recorded in selling, general and administrative (1) | 1,824 | 3,002 | ||||||
Total operating expenses adjustments | 30,126 | 30,331 | ||||||
Other income and expense, net | — | (302) | ||||||
Non-GAAP tax adjustment (2) | (2,754) | (4,508) | ||||||
Non-GAAP net income | $ | 28,271 | $ | 54,542 | ||||
Diluted income per share | ||||||||
Three Months Ended | ||||||||
March 31, 2024 |
March 31, 2023 |
|||||||
GAAP diluted income per share | $ | 0.01 | $ | 0.26 | ||||
Adjustments to GAAP diluted income per share: | ||||||||
Stock-based compensation expense: | ||||||||
Research and development | 0.01 | 0.00 | ||||||
Selling, general and administrative | 0.04 | 0.03 | ||||||
Amortization expense | 0.20 | 0.21 | ||||||
Separation and other related costs recorded in selling, general and administrative (1) | 0.01 | 0.02 | ||||||
Total operating expenses adjustments | 0.26 | 0.26 | ||||||
Other income and expense, net | 0.00 | 0.00 | ||||||
Non-GAAP tax adjustment (2) | (0.02) | (0.04) | ||||||
Non-GAAP diluted income per share | $ | 0.25 | $ | 0.48 |
净收入 | ||||||||
三个月已结束 | ||||||||
3月31日 2024 |
3月31日 2023 |
|||||||
GAAP 净收入 | $ | 899 | $ | 29,021 | ||||
对GAAP净收入的调整: | ||||||||
股票薪酬支出: | ||||||||
研究和开发 | 809 | 594 | ||||||
销售、一般和管理 | 4,336 | 3,046 | ||||||
摊销费用 | 23,157 | 23,689 | ||||||
销售、一般和管理中记录的离职和其他相关费用 (1) | 1,824 | 3,002 | ||||||
业务费用调整总额 | 30,126 | 30,331 | ||||||
其他收入和支出,净额 | — | (302) | ||||||
非公认会计准则税收调整 (2) | (2,754) | (4,508) | ||||||
非公认会计准则净收益 | $ | 28,271 | $ | 54,542 | ||||
摊薄后的每股收益 | ||||||||
三个月已结束 | ||||||||
3月31日 2024 |
3月31日 2023 |
|||||||
GAAP 摊薄后每股收益 | $ | 0.01 | $ | 0.26 | ||||
对GAAP摊薄后每股收益的调整: | ||||||||
股票薪酬支出: | ||||||||
研究和开发 | 0.01 | 0.00 | ||||||
销售、一般和管理 | 0.04 | 0.03 | ||||||
摊销费用 | 0.20 | 0.21 | ||||||
销售、一般和管理中记录的离职和其他相关费用 (1) | 0.01 | 0.02 | ||||||
业务费用调整总额 | 0.26 | 0.26 | ||||||
其他收入和支出,净额 | 0.00 | 0.00 | ||||||
非公认会计准则税收调整 (2) | (0.02) | (0.04) | ||||||
非公认会计准则摊薄后每股收益 | $ | 0.25 | $ | 0.48 |
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including fees for financial advisory and other professional services, and expenses incurred on a transitional basis under a contract shared with Xperi Inc.
(1) 代表2022年10月1日离职后产生的离职和相关费用,包括财务咨询和其他专业服务的费用,以及根据与Xperi Inc.共享的合同在过渡基础上产生的费用。
(2) The provision for income taxes is adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments.
(2) 对所得税准备金进行了调整,以反映各种非公认会计准则税前调整的直接和间接所得税净影响。
ADEIA INC.
GAAP NET INCOME TO
ADJUSTED EBITDA RECONCILIATION
(in thousands)
(unaudited)
ADEIA INC.
GAAP 净收入至
调整后的息税折旧摊销前利润
(以千计)
(未经审计)
Three Months Ended | ||||||||
March 31, 2024 |
March 31, 2023 |
|||||||
GAAP net income | $ | 899 | $ | 29,021 | ||||
Adjustments to GAAP net income: | ||||||||
Stock-based compensation expense: | ||||||||
Research and development | 809 | 594 | ||||||
Selling, general and administrative | 4,336 | 3,046 | ||||||
Separation and other related costs recorded in selling, general and administrative (1) | 1,824 | 3,002 | ||||||
Amortization expense | 23,157 | 23,689 | ||||||
Depreciation expense | 520 | 384 | ||||||
Interest expense | 14,175 | 15,938 | ||||||
Other income and expense, net | (1,400) | (1,620) | ||||||
Provision for income taxes | 5,690 | 11,784 | ||||||
Adjusted EBITDA | $ | 50,010 | $ | 85,838 |
三个月已结束 | ||||||||
3月31日 2024 |
3月31日 2023 |
|||||||
GAAP 净收入 | $ | 899 | $ | 29,021 | ||||
对GAAP净收入的调整: | ||||||||
股票薪酬支出: | ||||||||
研究和开发 | 809 | 594 | ||||||
销售、一般和管理 | 4,336 | 3,046 | ||||||
销售、一般和管理中记录的离职和其他相关费用 (1) | 1,824 | 3,002 | ||||||
摊销费用 | 23,157 | 23,689 | ||||||
折旧费用 | 520 | 384 | ||||||
利息支出 | 14,175 | 15,938 | ||||||
其他收入和支出,净额 | (1,400) | (1,620) | ||||||
所得税准备金 | 5,690 | 11,784 | ||||||
调整后 EBITDA | $ | 50,010 | $ | 85,838 |
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
(1) 代表2022年10月1日离职后产生的离职和相关费用,包括根据与Xperi Inc共享的合同在过渡基础上产生的费用。
ADEIA INC.
RECONCILIATION FOR GUIDANCE
ON OPERATING EXPENSES
(in millions)
(unaudited)
ADEIA INC.
以和解为指导
关于运营费用
(单位:百万)
(未经审计)
Year Ended | |||||||
December 31, 2024 | |||||||
Low | High | ||||||
GAAP operating expenses | $ | 254.0 | $ | 268.0 | |||
Amortization expense | 72.0 | 72.0 | |||||
Stock-based compensation expense | 24.0 | 26.0 | |||||
Separation and related costs (1) | 8.0 | 10.0 | |||||
Total of non-GAAP adjustments | 104.0 | 108.0 | |||||
Non-GAAP operating expenses | $ | 150.0 | $ | 160.0 |
年终了 | |||||||
2024年12月31日 | |||||||
低 | 高 | ||||||
GAAP 运营费用 | $ | 254.0 | $ | 268.0 | |||
摊销费用 | 72.0 | 72.0 | |||||
股票薪酬支出 | 24.0 | 26.0 | |||||
离职和相关费用 (1) | 8.0 | 10.0 | |||||
非公认会计准则调整总额 | 104.0 | 108.0 | |||||
非公认会计准则运营费用 | $ | 150.0 | $ | 160.0 |
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
(1) 代表2022年10月1日离职后产生的离职和相关费用,包括根据与Xperi Inc共享的合同在过渡基础上产生的费用。
ADEIA INC.
RECONCILIATION FOR GUIDANCE
ON NET INCOME
(in millions)
(unaudited)
ADEIA INC.
以和解为指导
关于净收入
(单位:百万)
(未经审计)
Year Ended | |||||||
December 31, 2024 | |||||||
Low | High | ||||||
GAAP net income | $ | 65.4 | $ | 70.7 | |||
Amortization expense | 72.0 | 72.0 | |||||
Stock-based compensation expense | 24.0 | 26.0 | |||||
Separation and related costs (1) | 8.0 | 10.0 | |||||
Total of non-GAAP operating expenses | 104.0 | 108.0 | |||||
Non-GAAP tax adjustment | (30.0) | (17.8) | |||||
Non-GAAP net income | $ | 139.4 | $ | 160.9 |
年终了 | |||||||
2024年12月31日 | |||||||
低 | 高 | ||||||
GAAP 净收入 | $ | 65.4 | $ | 70.7 | |||
摊销费用 | 72.0 | 72.0 | |||||
股票薪酬支出 | 24.0 | 26.0 | |||||
离职和相关费用 (1) | 8.0 | 10.0 | |||||
非公认会计准则运营支出总额 | 104.0 | 108.0 | |||||
非公认会计准则税收调整 | (30.0) | (17.8) | |||||
非公认会计准则净收益 | $ | 139.4 | $ | 160.9 |
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
(1) 代表2022年10月1日离职后产生的离职和相关费用,包括根据与Xperi Inc共享的合同在过渡基础上产生的费用。
ADEIA INC.
RECONCILIATION FOR GUIDANCE ON
ADJUSTED EBITDA
(in millions)
(unaudited)
ADEIA INC.
和解以获得指导
调整后 EBITDA
(单位:百万)
(未经审计)
Year Ended | |||||||
December 31, 2024 | |||||||
Low | High | ||||||
GAAP net income | $ | 65.4 | $ | 70.7 | |||
Stock-based compensation expense | 24.0 | 26.0 | |||||
Separation and related costs (1) | 8.0 | 10.0 | |||||
Amortization expense | 72.0 | 72.0 | |||||
Depreciation expense | 2.5 | 2.5 | |||||
Interest expense | 54.0 | 57.0 | |||||
Other income | (5.0) | (6.0) | |||||
Income tax expense | 11.6 | 30.3 | |||||
Total of non-GAAP adjustments | 167.1 | 191.8 | |||||
Adjusted EBITDA | $ | 232.5 | $ | 262.5 |
年终了 | |||||||
2024年12月31日 | |||||||
低 | 高 | ||||||
GAAP 净收入 | $ | 65.4 | $ | 70.7 | |||
股票薪酬支出 | 24.0 | 26.0 | |||||
离职和相关费用 (1) | 8.0 | 10.0 | |||||
摊销费用 | 72.0 | 72.0 | |||||
折旧费用 | 2.5 | 2.5 | |||||
利息支出 | 54.0 | 57.0 | |||||
其他收入 | (5.0) | (6.0) | |||||
所得税支出 | 11.6 | 30.3 | |||||
非公认会计准则调整总额 | 167.1 | 191.8 | |||||
调整后 EBITDA | $ | 232.5 | $ | 262.5 |
(1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.
(1) 代表2022年10月1日离职后产生的离职和相关费用,包括根据与Xperi Inc共享的合同在过渡基础上产生的费用。