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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.
Dolby
Dolby
Dolby Revenue by Segment
Revenue by Segment
Licensing Revenue
CapyFin.comProducts and Services Revenue
CapyFin.com 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.
- Uncertainty resulting from these factors has greatly reduced its visibility into Dolby’s future outlook.
- Operating expenses are anticipated to range from $230 million to $240 million on a GAAP basis and from $190 million to $200 million on a non-GAAP basis for Q2 2025.
- Diluted earnings per share is anticipated to range from $2.39 to $2.54 on a GAAP basis and from $3.99 to $4.14 on a non-GAAP basis for the full year of fiscal 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income