Adeia (ADEA) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $96.1 million, with adjusted EBITDA margin at 59% and cash from operations of $54.6 million.

• Added a record 12 new customers and closed six license agreements, including multi-year renewals with Google (YouTube TV) and RPX.

• Non-pay TV recurring revenue grew 54% year-over-year, now nearly double pay TV recurring revenue.

• Long-term annual revenue target raised to $600 million, driven by semiconductor and e-commerce momentum.

• Net income for Q2 2026 was $17.4 million, with diluted EPS of $0.15.

Financial highlights

• Q2 2026 revenue: $96.1 million (+12% YoY); adjusted EBITDA: $56.4 million; GAAP net income: $17.4 million.

• Operating expenses (non-GAAP) were $40.2 million; GAAP operating expenses were $70.7 million.

• Cash and equivalents at quarter-end were $137.1 million; $6.1 million in debt principal repaid; $10 million in share repurchases.

• Net cash provided by operations in H1 2026 was $113.1 million, up 41% year-over-year.

• Q2 2026 diluted shares outstanding: 114.4 million.

Outlook and guidance

• 2026 revenue guidance reiterated at $395 million–$435 million; adjusted EBITDA margin expected at approximately 55% for the full year.

• Non-GAAP net income expected between $144.2–$168.7 million; adjusted EBITDA between $213.4–$245.4 million.

• Operating expenses projected at $184 million–$192 million; interest expense at $34 million–$36 million.

• Long-term annual revenue target increased to $600 million, with semiconductor opportunity now estimated at $200 million annually.

• Management expects continued volatility in variable-fee revenue due to macroeconomic and industry factors.