Adeia reports Q1 EPS 25c, consensus 21c

Reports Q1 revenue $83.41M, consensus $81.85M. “The results of our first quarter demonstrate the strength of our business model and continued execution as we generated over $67 million in cash from operations,” said Paul E. Davis, chief executive officer of Adeia. “Our first quarter was very active as we closed deals with ten customers across a diverse mix of end markets and geographies. We further expanded our patent portfolios both through strategic acquisitions and R&D investments focused on emerging trends such as generative AI and the challenges of Moore’s Law facing the semiconductor industry. Additionally, we remain on-track to achieving our strategic objectives for the year as we made significant progress on key customer engagements in markets that will drive future growth, including in OTT, adjacent media markets, and in our semiconductor business.”