From GlobeNewswire: 2025-02-18 16:05:00

Adeia Inc. achieved record post-separation revenue and cash from operations in the fourth quarter. They signed 10 deals, totaling 32 for the year. They also paid down $50 million of debt and repurchased $20 million of common stock. Revenue was $119.2 million in the fourth quarter, with a GAAP diluted EPS of $0.32 and non-GAAP diluted EPS of $0.47. Cash flows from operations were $107.5 million. For the full year 2024, revenue was $376.0 million. Adeia Inc. acquired strategic patent portfolios and signed multi-year agreements with key customers like Amazon, Canon, and Roku. They also provided a financial outlook for 2025, with a GAAP net income projection of $76.5 million to $81.6 million and an adjusted EBITDA projection of $226.3 million to $258.3 million.

In 2024, Adeia Inc. grew its total patent portfolio by 12%, ending with over 12,000 total patent assets. They focused on innovations for generative AI, disruptive technologies for media markets, and emerging technologies for the semiconductor industry. The company plans to add new customers in target growth markets while maintaining a high renewal rate in core markets. They anticipate continued growth in 2025.

The company executed on a balanced capital allocation approach by making accelerated debt payments of $50.0 million, repurchasing $20.0 million of common stock, acquiring strategic patent assets, and maintaining a dividend program. They distributed a quarterly cash dividend of $0.05 per share of common stock and declared a dividend of $0.05 per share payable on March 31, 2025. Adeia Inc. will hold its fourth quarter 2024 earnings conference call on February 18, 2025, at 2:00 PM Pacific Time.

Adeia Inc. is a leading R&D and intellectual property licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Their fundamental innovations shape and elevate the future of digital entertainment and electronics. They have a strong focus on growth, financial performance, and strategic partnerships to drive their business forward.



Read more at GlobeNewswire:: Adeia Announces Fourth Quarter and Full Year 2024 Financial