Adeia reports Q4 EPS 47c, consensus 43c

Reports Q4 revenue $119.2M, consensus $114.22M. The company said, “Our fourth quarter results showed the evolution of our business model as we continued to grow and expand into our target growth markets. During the quarter, we signed 10 deals across multiple verticals, bringing the total deals for the year to 32. We are very pleased with our deal execution closing out the year with 4 new customer agreements, including important new strategic deals with Amazon, Canon and with a luxury retailer e-commerce customer. These new deals further expand and diversify our customer base. In addition, we continued our strong track record of renewal agreements with Roku and Sharp in the consumer electronics market. Our record post-separation revenue and operating cash flows, and our best-in-class operating margin of 67%, were driven by our strong deal momentum in the fourth quarter. We also executed on our balanced capital allocation approach in the quarter, making accelerated debt payments of $50.0 million, repurchasing $20.0 million of our common stock, acquiring strategic patent assets and maintaining our dividend program.”