Xperi increases annual revenue and cash flow forecast by $10 million

SAN JOSE, Calif., June 23, 2022–(BUSINESS WIRE)–Xperi Holding Corporation (NASDAQ: XPER) (“Xperi” or the “Company”) today announced a $10 million increase in its annual revenue and cash flow guidance for operating for 2022. This increase is mainly due to a recently resolved contract dispute with a customer.

Updated full-year 2022 operating revenue and cash flow forecasts are as follows:

Category

Previous perspectives

Updated outlook

Revenue

$910M to $950M

$920M to $960M

Operating cash flow

$200M to $230M

$210M to $240M

The Company’s FotoNation subsidiary filed for arbitration in January 2020 against a major mobile imaging customer for breach of contract. Upon settlement of the arbitration, Xperi entered into an agreement that resolves all outstanding disputes, provides upfront payment to Xperi for prior license fees, and requires additional license fees and payments from Xperi over the next few years. .

“We are very pleased to have reached a resolution to this long-standing dispute,” said Jon Kirchner, CEO of Xperi. “This resolution, along with a recent long-term renewal from a major IP licensing customer, provides the basis for increasing our revenue and operating cash flow guidance.” We continue to execute our long-term strategy, despite a difficult market environment.

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 than amended. These forward-looking statements are based on the Company’s current expectations, estimates and projections regarding the Company’s updated financial and cash flow outlook. In this context, forward-looking statements often address expected future business, financial performance and condition, and often contain words such as “expect”, “anticipate”, “intend”, ” plan”, “believe”, “could”, “seek”, “see”, “will”, “may”, “should”, “could”, “potentially”, “estimate”, “continue”, “expect” , “target”, similar expressions or the negatives of these words or other comparable terms that convey uncertainty of future events or results. All forward-looking statements, by their nature, address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the anticipated benefits of the transaction. . These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in the 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, accordingly, you should not place undue reliance on such statements and should exercise caution when you rely on forward-looking statements. Important risk factors that could cause such a difference include, but are not limited to: expected tax treatment, unforeseen liabilities, future capital expenditures, revenues, cost savings, expenses, profits, synergies, the economic performance, indebtedness, financial condition, losses, prospects, business strategies and expansion and growth of the Company’s business; the Company’s ability to implement its business strategy; pricing trends, including the Company’s ability to achieve economies of scale; 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 activities; general economic and market developments and conditions; failure to remedy material weaknesses in our internal control over financial reporting; changes in the legal, regulatory and tax regimes under which the 4 Company operates; the unpredictability and severity of catastrophic events, including but not limited to acts of terrorism or the outbreak of war or hostilities, including Russia’s invasion of Ukraine, and Natural disasters ; the extent to which the COVID-19 pandemic continues to negatively impact our business, results of operations and financial condition will depend on future developments, including actions taken in response to the pandemic, which are highly uncertain and unpredictable; the impact of semiconductor supply chain constraints on our customers; and any plans to separate the Company’s IP and Products activities. These and other risks associated with the business are more fully described in the Company’s filings with the United States Securities and Exchange Commission (“SEC”), including the Company’s annual report. the Company on Form 10-K. Although the list of factors set forth herein and the list of factors set forth in the Company’s filings with the SEC are believed to be representative, no such list should be taken as a complete statement of all potential risks and uncertainties. . Factors not listed may present additional material impediments to the making of forward-looking statements. The consequences of material differences in results from those anticipated in the forward-looking statements could include, among others, business interruption, operational problems, financial loss, legal liability to third parties and similar risks, each of which may have a material adverse effect. on the consolidated financial condition, results of operations, liquidity or market price of the Company’s common shares. The Company undertakes no obligation to publicly provide revisions or updates to any forward-looking statement, whether as a result of new information, future developments or otherwise, if circumstances change, except as securities laws securities and other applicable laws require it.

About Xperi Holding Corporation

Xperi invents, develops and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered through its brands (Adeia, DTS, HD Radio, IMAX Enhanced, TiVo), and by its startup, Perceive, make entertainment more entertaining and smart devices smarter. Xperi technologies are embedded in billions of consumer devices, media platforms and semiconductors worldwide, driving added value for partners, customers and consumers.

Xperi, Adeia, DTS, IMAX Enhanced, HD Radio, Perceive, TiVo and their respective logos are trademarks or registered trademarks of affiliates of Xperi Holding Corporation in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.

Source: Xperi Holding Corp.
XPER-C

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220621005172/en/

contacts

Xperi investor contact:
Jill Koval, Arbor Advisory Group
+1 203-832-4449
[email protected]

Media Contact:
Amy Brennan, Senior Manager, Corporate Communications
+1 949-518-6846
[email protected]

About Aldrich Stanley

Check Also

Edtech must evolve as blended learning to stay relevant

The outbreak of the COVID-19 pandemic has brought sweeping changes to virtually every business. The …