Xperi (XPER) investor relations material

Executive summary

• Q3 revenue was $113.953M, up 2% YoY; operating income was $1.763M versus an operating loss of $1.362M, and net loss narrowed to $5.241M from $6.107M.

• Media Platform revenue more than doubled to $17.041M as advertising grew 281%; TiVo One reached 6.8M MAUs, up 40% YoY.

Financial highlights

• GAAP net loss was $5.241M, or $0.11 per diluted share; non-GAAP net income was $11.718M, or $0.24 per diluted share, and Adjusted EBITDA was $22.965M.

• GAAP operating expenses excluding cost of revenue fell 9% YoY; non-GAAP adjusted operating expenses declined 7% to $61.213M.

• Advertising and related revenue rose 281% to $14.925M, while licensing revenue fell 8% to $99.0M.

• 9M revenue increased 3% to $342.651M; net loss narrowed to $14.567M from $39.254M.

• Q3 operating cash flow was $4M; non-GAAP free cash flow was negative $3.4M.

Outlook and guidance

• FY26 revenue guidance narrowed to $450M–$462M from $440M–$470M; Adjusted EBITDA margin guidance rose to 19%–21% from 17%–19%.

• FY26 operating cash flow guidance increased to $20M–$30M from $15M–$25M; free cash flow outlook is negative $5M to positive $5M.

• FY26 capital expenditures remain ~ $25M; non-GAAP tax expense is ~ $20M, projected share count is 48M–49M and stock-based compensation is ~ $29M.

• Year-end TiVo One MAUs are expected to exceed 7.5M; Media Platform growth is forecast near 60%, with Advertising and Related growth near 100%.