Xperi (XPER) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was $114 million, down 4% year-over-year, mainly due to divestitures and declines in Pay TV, Media Platform, and Consumer Electronics, partially offset by Connected Car growth.

• Adjusted EBITDA rose to $16.4 million (14.4% margin), up over 200% year-over-year, reflecting cost transformation, operational efficiency, and divestitures.

• Net loss widened to $18.4 million, compared to $13.1 million in Q1 2024, with GAAP loss per share of $0.41.

• TiVo One Monthly Active Users reached 2.5 million, with over 80 new streaming services launched and strong adoption in Europe and North America.

• Completed divestitures of AutoSense and Perceive businesses in 2024, streamlining focus on entertainment markets.

Financial highlights

• Q1 revenue: $114 million, down 4% from $119 million last year; Connected Car revenue grew 37% to $33.3 million, while Pay TV, Media Platform, and Consumer Electronics declined.

• Adjusted EBITDA: $16.4 million (14.4% margin), up from $5.4 million (4.5% margin) year-over-year.

• Non-GAAP EPS was $0.16, up from a loss of $0.05 per share last year.

• Cash and cash equivalents were $88 million at quarter-end, down from $130.6 million at year-end 2024.

• Operating cash usage was $22 million, improved by $28 million year-over-year.

Outlook and guidance

• FY 2025 revenue guidance maintained at $480 million–$500 million; non-GAAP adjusted EBITDA margin expected at 16%–18%.

• Operating cash flow for FY 2025 expected to be slightly positive; capex projected at $20 million.

• Targets include 5 million+ TiVo One Monthly Active Users, 3 million+ IPTV subscriber households, and DTS AutoStage in over 13 million vehicles by year-end.

• Management maintains full-year outlook while monitoring macroeconomic and tariff impacts.