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Parent company Xperi posts Q1 revenues of $221.6 million, touts licensing renewals with Frontier, Sony and Cox.
May 6, 2021
1 Min Read
SAN JOSE, Calif. – Xperi Holding Corporation (Nasdaq: XPER) (the "Company", "Xperi" or "we") today announced financial results for the first quarter ended March 31, 2021.
First Quarter 2021 Financial Highlights:
Revenue of $221.6 million.
Cash Flow from Operations of $26.7 million.
Adjusted Free Cash Flow of $29.7 million.
GAAP earnings per share of $0.05 and Non-GAAP earnings per share of $0.59.
Bought back $25 million of common stock.
Increased stock repurchase authorization by $100 million, bringing the total current amount available to $155 million.
First Quarter 2021 Business and Recent Operating Highlights:
IP Licensing Business
Renewed agreement with Frontier, one of the top 10 traditional Pay-TV providers in the US.
Renewed and extended licenses with Cox, Sony, and TCL.
Product Business
Consumer Experience business highlights:
Expanded TiVo Stream footprint with increasing activations.
Expanded content on the TiVo+ service with the launch of IMDb TV, Amazon's free ad-supported service, Paramount+, and TVEverywhere.
Signed a multi-year agreement with Xiaomi, which includes a commitment for IMAX Enhanced on Xiaomi TVs.
Pay-TV business highlights:
Demand for the TiVo IPTV video service continued to grow with deployments increasing nearly 100% quarter over quarter.
Extended Vodafone agreement providing access to more products and services from the Xperi portfolio alongside TiVo's current solutions and services on the VTV platform.
Extended interactive program guide licensing deal with Sharp Corporation.
Read the full announcement here.
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