Xperi (XPER) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue was $105.9–$106 million, down 11% year-over-year, with a GAAP net loss of $14.8–$15 million, impacted by macro uncertainty and lower Pay TV and Connected Car revenue.

• Adjusted EBITDA rose 4% to $15.2 million (14.4% margin), driven by cost management and business transformation.

• Operating cash flow was $10 million and free cash flow $5 million for the quarter.

• Strategic progress included 3.7 million TiVo One monthly active users, nine TV OS partners, and IPTV subscriber households surpassing 3 million with over 30% growth.

• AutoStage footprint expanded to over 12 million vehicles, with new OEM programs and model launches.

Financial highlights

• Q2 2025 revenue was $105.9–$106 million, down from $119.6–$120 million year-over-year.

• Adjusted EBITDA was $15.2 million, up 4% year-over-year, with a margin of 14.4%.

• Non-GAAP EPS was $0.11; GAAP net loss per share was $0.32.

• Cash and cash equivalents at quarter-end were $95–$95.1 million, up $7 million sequentially but down from $130.6 million at year-end 2024.

• Operating expenses fell 17% year-over-year, with a 23% reduction in non-GAAP adjusted operating expenses.

Outlook and guidance

• Full-year 2025 revenue guidance is $440–$460 million, with adjusted EBITDA margin expected between 15% and 17%.

• Operating cash flow for FY 2025 projected to be neutral within ±$10 million.

• Capital expenditures and non-GAAP tax expense each expected to be approximately $20 million.

• Focus remains on expanding the ad platform and growing media and licensing businesses post-divestitures.