Adeia Q2 revenue $83.2M, GAAP EPS $0.01; appoints Adam Rymer to board

Adeia Inc.

2023-Q2 EPS reported $0.27 revenue$200,524,000

Q2 revenue $83.2M (down from Q1 $117.3M); H1 revenue $200.5M vs $246.3M prior year.
GAAP diluted EPS $0.01, non-GAAP $0.26; adjusted EBITDA $51.7M.
Paid down $20.1M on term loan (balance $645.5M); declared $0.05 dividend payable Sept 18.
Closed nine licensing deals including Cox Communications, DAZN, Enseo.
Appointed Adam Rymer to board (independent, Audit Committee), effective Aug 4.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

Adam Rymer

Independent Director

ADEA · Adeia Inc.

Effective: 2023-08-04
Filed: August 7, 2023, 7:59 PM ET

On August 4, 2023, the Board took action by unanimous written consent without a meeting, effective as of August 4, 2023, to increase the size of the Board from five (5) directors to six (6) directors and to appoint Adam Rymer to the Board as an independent director.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Adeia Inc. reported second quarter ended June 30, 2023 results: revenue $83.2 million, net income $1.4 million, EPS $0.01. Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $83.2 million
Net income: $1.4 million
EPS: $0.01
Guidance: reaffirmed
Result: reported results

Exact text from the filing

on track to achieve our goals for 2023 and we continue to make excellent progress towards our long-term strategic objectives.” Second Quarter Financial Highlights • Revenue was $83.2 million compared to $117.3 million in the first quarter of 2023; total revenue for the first half of 2023 was $200.5 million compared to $246.3 million in the prior year • GAAP diluted

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Executive change SEC 8-K Item 5.02 confidence 0.95

Adam Rymer was appointed as Independent Director at Adeia Inc..

Action: appointed
Role: Independent Director

Exact text from the filing

On August 4, 2023, the Board took action by unanimous written consent without a meeting, effective as of August 4, 2023, to increase the size of the Board from five (5) directors to six (6) directors and to appoint Adam Rymer to the Board as an independent director.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950170-23-039053

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