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August 3, 2026
Signed multi-year license renewal with Google, which includes YouTube TV, one of the largest Pay-TV providers
Signed multi-year license agreement with RPX, encompassing 10 new e-commerce customers
Long-term annual revenue outlook increased to $600 million on the strength of our semiconductor business
SAN JOSE, Calif., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (the “Company” or “Adeia”) today announced financial results for the second quarter ended June 30, 2026.
“Second quarter revenue of $96 million was in line with our expectations, and we generated $55 million in operating cash flow with a 59% adjusted EBITDA margin,” said Paul E. Davis, chief executive officer of Adeia. “We closed six license agreements during the quarter, across OTT, e-commerce, consumer electronics and Pay-TV. We closed a significant multi-year renewal with Google, which has been a valued licensee for approximately 15 years and whose YouTube TV platform is one of the fastest growing Pay-TV services in the country. We also signed a seminal, multi-year license agreement with RPX, adding 10 new e-commerce customers under a single agreement. With the RPX deal and a new license agreement with L'Oréal, we now have 15 customers across six agreements in e-commerce — a business we built from the ground up over just the past two years. Non-Pay-TV recurring revenue for the quarter grew 54% year-over-year, continuing a multi-quarter trend as our non-Pay-TV pipeline remains robust and continues to grow.”
Davis continued, “We are raising our long-term annual revenue outlook to $600 million from $500 million driven by confidence in our semiconductor business being able to reach $200 million in annual revenue. This new semiconductor outlook is based on the trajectory of hybrid bonding adoption across both memory and logic in connection with the AI infrastructure build-out and high-performance computing demand. Our media growth target remains strong at $400 million, supported by continued momentum in OTT, e-commerce, consumer electronics and social media. I am very pleased with the progress we have made in the first half of the year and we remain focused on execution across the business to achieve our goals for the year. Our strategic initiatives remain on track, including increasing our long-term revenue, growing our IP portfolio primarily through our organic innovation engine, maintaining a balanced capital allocation approach and growing our opportunity pipeline.”
Second Quarter Financial Highlights
Business Highlights
Capital Allocation
During the quarter, the Company made $6.1 million in principal payments towards its term loan, bringing the outstanding balance to $392.6 million as of June 30, 2026.
During the quarter, the Company repurchased $10.0 million of its common stock, representing 0.4 million shares and bringing the remaining amount available under its stock repurchase plan to $140.0 million as of June 30, 2026.
On June 15, 2026, the Company distributed $5.5 million to stockholders of record on May 26, 2026, for a quarterly cash dividend of $0.05 per share of common stock.
The Board of Directors declared a dividend of $0.05 per share, payable on September 14, 2026, to stockholders of record on August 24, 2026.
Financial Outlook
The Company is reiterating its full year 2026 outlook as follows:
Conference Call Information
The Company will hold its second quarter 2026 earnings conference call at 2:00 PM Pacific Time (5:00 PM Eastern Time) on Monday, August 3, 2026. To access the call in the U.S., please dial +1 (888) 660-6411, and for international callers, dial +1 (929) 203-0849. All participants should dial in 15 minutes prior to the start of the conference call. The Company also suggests utilizing the webcast link to access the live call and the replay at Q2 2026 Earnings Call Webcast. A live and replay webcast will be available on the Adeia Investor Relations website at https://investors.adeia.com.
Non-GAAP Financial Measures
In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company’s earnings release contains non-GAAP financial measures adjusted, where applicable, for either one-time or ongoing non-cash acquired intangibles amortization charges, costs related to actual or planned business combinations including transaction fees, integration costs, severance, facility closures, and retention bonuses, separation costs, all forms of stock-based compensation, leadership transition costs, loss on debt extinguishment, expensed debt refinancing costs, impairment of intangible assets, impact of certain foreign currency adjustments, discontinued operations and related tax effects. In addition, adjusted EBITDA adjusts for recurring charges of interest expense, income taxes, depreciation and amortization. Management believes that the non-GAAP measures used in this release provide investors with important perspectives on the Company’s ongoing business and financial performance and are helpful to provide investors with an understanding of our core operating results reflecting our normal business operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, the terms used in this press release, such as EBITDA margin, which is defined as EBITDA as a percentage of revenue, adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating expenses, non-GAAP net income and non-GAAP diluted earnings per share (EPS) do not have a standardized meaning. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures in the tables attached hereto. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. All financial data is presented on a GAAP basis except where the Company indicates its presentation is on a non-GAAP basis.
Set forth are reconciliations of the Company’s reported and forecasted GAAP to non-GAAP financial metrics please view them on the IR website.
Adeia (Nasdaq: ADEA) is the technology company known for developing foundational innovations that enable next-generation solutions for the media and semiconductor industries. We invent and license foundational technologies that shape the future of digital entertainment, ecommerce, and high-performance computing. Our portfolio transforms technologies into an experience that is intelligent, immersive, and personal. For more, please visit www.adeia.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company’s current expectations, assumptions, estimates and projections that involve risks and uncertainties. In this context, forward-looking statements often address expected future business, financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond the Company’s control, and are not guarantees of future results.
Forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: the Company’s ability to implement its business strategy; the Company’s ability to enter into new and renewal license agreements with customers on favorable terms; the Company’s ability to retain and hire key personnel; uncertainty as to the long-term value of the Company’s common stock; legislative, regulatory and economic developments affecting the Company’s business; general economic and market developments and conditions; the Company’s ability to grow and expand its patent portfolios; changes in technology and development of new technology in the industries in which in which the Company operates; our involvement in litigation and administrative proceedings to enforce or defend our IP rights; the evolving legal, regulatory and tax regimes under which the Company operates; unforeseen liabilities and expenses; risks associated with the Company’s indebtedness; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, natural disasters and global health pandemics, each of which may have an adverse impact on the Company’s business, results of operations, and financial condition. These risks, as well as other risks associated with the Company’s business, are more fully discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. While the list of factors presented here is, and the list of factors presented in the Company’s filings with the SEC are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.
Causes of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, failure to complete licensing arrangements on anticipated terms and timeline, failure to prevail in litigation we may bring against third parties, including against FuboTV Inc. described herein, financial loss, legal liability to third parties and similar risks, the cost of litigation may exceed our current expectations, and failure to attract or retain employees, any of which could have a material adverse effect on the Company’s consolidated financial condition, results of operations, liquidity or trading price of common stock. The Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
Investor Relations:
Chris Chaney
Vice President, Investor Relations
[email protected]
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