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Dec 27, 2024
Dolby Q1 2025 Earnings Report
Dolby reported a strong start to FY25, with Dolby Atmos and Dolby Vision momentum continuing across device categories.
Key Takeaways
Dolby Laboratories reported total revenue of $357 million for Q1 2025, compared to $316 million in Q1 2024. GAAP net income was $68 million, or $0.70 per diluted share, compared to $67 million, or $0.69 per diluted share, for the same quarter last year. Non-GAAP net income was $111 million, or $1.14 per diluted share, compared to $99 million, or $1.01 per diluted share, in Q1 2024.
Total revenue reached $357 million, up from $316 million in the first quarter of fiscal 2024.
GAAP net income was $68 million, or $0.70 per diluted share.
Non-GAAP net income amounted to $111 million, or $1.14 per diluted share.
Dolby repurchased approximately 186,000 shares of its common stock for approximately $15 million.
Revenue by Segment
Forward Guidance
Dolby provided estimates for its second quarter of fiscal 2025 and full year fiscal 2025.
Positive Outlook
- Total revenue is estimated to range from $355 million to $385 million for Q2 2025.
- Licensing revenue is estimated to range from $330 million to $360 million for Q2 2025.
- Diluted earnings per share is anticipated to range from $0.77 to $0.92 on a GAAP basis and from $1.19 to $1.34 on a non-GAAP basis for Q2 2025.
- Total revenue is expected to range from $1.33 billion to $1.39 billion for the full year of fiscal 2025.
- Licensing revenue is estimated to range from $1.22 billion to $1.28 billion for the full year of fiscal 2025.
Challenges Ahead
- Dolby's financial outlook relies on estimates of royalty-based revenue that are subject to uncertainty.
- Actual results could differ materially due to macroeconomic conditions, including supply chain constraints, international conflicts, geopolitical instability, and fluctuations in inflation and interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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