Xperi (XPER) investor relations material

Executive summary

• Q1 2026 revenue was $114.2 million, essentially flat year-over-year, with strong growth in Media Platform and Connected Car segments offsetting declines in Pay TV and Consumer Electronics.

• Net loss narrowed to $7.8 million from $18.4 million year-over-year, driven by significant cost reductions and restructuring.

• Adjusted EBITDA rose to $25.3 million (22.1% margin), up from $16.4 million (14.4% margin) year-over-year.

• Monetization strategy advanced, with Media Platform and TiVo One user base expansion and new partnerships.

• Annual financial guidance for 2026 reaffirmed, reflecting confidence in continued revenue and user growth.

Financial highlights

• Q1 revenue was $114.2 million, flat year-over-year.

• Adjusted EBITDA reached $25.3 million (22.1% margin), up from $16.4 million (14.4% margin) year-over-year.

• GAAP net loss was $7.8 million; non-GAAP net income was $11.0 million; non-GAAP EPS was $0.23; GAAP loss per share was $0.17.

• Cash and cash equivalents at quarter end were $70.4 million, with an additional $12 million received in April from the Perceive sale.

• Free cash flow usage improved to $(22.8) million from $(26.5) million year-over-year.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $440–$470 million.

• Adjusted EBITDA margin expected at 17%–19%; operating cash flow projected at $15–$25 million; capital expenditures at $15–$20 million.

• Management expects restructuring to yield $30–$35 million in annualized cost savings.

• TiVo One ARPU projected to exceed $10 by year-end; targeting over 7 million TiVo One monthly active users by year-end.

• Liquidity expected to be sufficient for at least the next 12 months, supported by cash, equivalents, and AR Facility availability.