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Sep 30, 2025
Adeia Q3 2025 Earnings Report
Adeia reported solid Q3 2025 results, with strong adjusted EBITDA margins and growth in non-Pay-TV revenue despite lower GAAP earnings.
Key Takeaways
Adeia delivered $87.3 million in revenue and a 58% adjusted EBITDA margin in Q3 2025, supported by strong performance in semiconductor and OTT licensing. GAAP net income fell YoY, but non-GAAP profitability remained strong.
Revenue reached $87.3 million, in line with expectations.
Adjusted EBITDA came in at $50.7 million, representing a 58% margin.
Adeia closed 20 new license deals in key growth sectors.
Paid down $11.1 million in debt, reducing total debt to $447.8 million.
Forward Guidance
Adeia lowered its full-year 2025 revenue and adjusted EBITDA outlook due to a delayed license agreement with AMD but reaffirmed strong profitability targets.
Positive Outlook
- Maintains focus on recurring revenue growth in semiconductors and media.
- Continues to see strong performance in non-Pay-TV revenue segments.
- Updated 2025 adjusted EBITDA guidance: $202.3–218.3 million.
- 2025 non-GAAP net income guidance range: $127.4–139.8 million.
- Operational expense management remains within target.
Challenges Ahead
- 2025 revenue guidance cut to $360–380 million from prior $390–430 million.
- Litigation with AMD may prolong monetization of key IP.
- Q3 GAAP net income declined compared to prior year.
- Stock repurchases and dividends may limit cash flexibility.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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