Adeia Q4 rev $86.9M, GAAP EPS $0.11; FY rev $388.8M, debt paydown $148M; guides FY2024 rev $380-420M

Adeia Inc.

2023-FY EPS reported $0.60 revenue$388,788,000

Q4 2023 revenue $86.9M (down from $101.4M in Q3); GAAP net income $12.7M, diluted EPS $0.11; non-GAAP diluted EPS $0.27.
Full year 2023 revenue $388.8M (down from $438.9M in 2022); GAAP net income $67.4M, diluted EPS $0.60; adjusted EBITDA $262.3M.
Paid down $148.0M on term loan in 2023, including $29.1M in Q4; outstanding balance $601.3M at year-end.
Signed 32 deals in 2023 across media and semiconductor; new agreements with social media company and Breezeline.
2024 guidance: revenue $380-420M, adjusted EBITDA $232.5-262.5M, non-GAAP net income $139.4-160.9M (diluted EPS ~$1.22-1.41).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Adeia Inc. reported the fourth quarter and full year ended December 31, 2023 results: revenue $86.9 million, net income $12.7 million, EPS $0.11. Guidance initiated.

Period: the fourth quarter and full year ended December 31, 2023
Revenue: $86.9 million
Net income: $12.7 million
EPS: $0.11
Guidance: initiated
Result: reported results

Exact text from the filing

markets. These investments are critical to our revenue growth opportunities in OTT, semiconductors, and adjacent verticals.” Fourth Quarter Financial Highlights • Revenue was $86.9 million as compared to $101.4 million in the third quarter of 2023 • GAAP diluted earnings per share (EPS) was $0.11 and non-GAAP diluted EPS was $0.27 • GAAP net income was $12.7

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Source: SEC EDGAR

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