Adeia Q1 revenue $117.3M (+14% seq); adj. EPS $0.48; cuts debt $83.6M

Adeia Inc.

2023-Q1 EPS reported $0.26 revenue$117,307,000

Revenue $117.3M (+14% from prior quarter); GAAP EPS $0.26, non-GAAP EPS $0.48.
Signed 8 deals including long-term agreements with Kioxia and Western Digital for hybrid bonding patents.
Paid down $83.6M of term loan; total debt $665.6M; declared $0.05/sh dividend payable June 20.
Reaffirmed FY 2023 outlook: revenue $385-415M, adj. EBITDA $252-272M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Adeia Inc. reported the first quarter ended March 31, 2023 results: revenue Revenue was $117.3 million, net income Net income was $29.0 million, EPS GAAP diluted earnings per share (EPS) of $0.26. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: Revenue was $117.3 million
Net income: Net income was $29.0 million
EPS: GAAP diluted earnings per share (EPS) of $0.26
Guidance: reaffirmed
Result: reported results

Exact text from the filing

grow our patent portfolios through ongoing investment in our innovation engine, and execute our capital allocation strategy.” First Quarter Financial Highlights • Revenue was $117.3 million, an increase of 14% from $103.3 million in the prior quarter • GAAP diluted earnings per share (EPS) of $0.26 and non-GAAP diluted EPS of $0.48 • Net income was $29.0 million and

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Source: SEC EDGAR

accession 0000950170-23-018774

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