Adeia Q2 revenue $87.4M; GAAP EPS $0.07, adj EPS $0.28; lowers cost guidance

Adeia Inc.

2024-Q2 EPS reported $0.08 revenue$170,755,000

Revenue $87.4M, GAAP net income $8.4M ($0.07 diluted), adjusted EBITDA $52.8M, non-GAAP diluted EPS $0.28.
Signed 5 deals including multi-year renewal with X Corp resolving all litigation; Panasonic, Hamamatsu, regional Pay-TV, post-Q Liberty Global.
Repriced term loan reducing rate by 61bps, ~$3M annual interest savings; outstanding $549.1M after $12M principal payment.
Maintains FY2024 revenue outlook $380-420M; lowers non-GAAP opex to $145-155M and interest to $52-55M.
Declared Q3 dividend $0.05/share payable Sep 17, record Aug 27.

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