Adeia Q3 revenue $86.1M; cuts FY2024 guidance; files patent suit vs Disney

Adeia Inc.

2024-Q3 EPS reported $0.25 revenue$256,856,000

Q3 revenue $86.1M vs Q2 $87.4M; GAAP EPS $0.17, non-GAAP $0.27; net income $19.3M, adj. EBITDA $51.3M.
Signed 7 deals in consumer electronics, Pay-TV, OTT, semiconductor; renewals with LG, VIZIO, Liberty Global.
Filed patent infringement litigation against Disney (including Hulu and ESPN).
Board increased share repurchase authorization to $200M; declared $0.05/share dividend payable Dec 18, 2024.
FY2024 guidance adjusted: revenue $370-400M (from $380-420M), adj. EBITDA $228-254M (from $237.5-267.5M).

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