10-K · February 26, 2026
Adeia positions itself as an IP licensing platform focused on media and semiconductors, growing through internal R&D, targeted acquisitions and licensing (media and semiconductor portfolios). The company reported a…
Earnings analysis · 10-Q
ADEA earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Adeia Inc. reported strong Q1 2026 earnings, with revenue of $104.77 million, surpassing both the prior period and estimates, while EPS reached $0.38, also above expectations. Despite a significant increase in…
Read full summary
Adeia Inc. reported strong Q1 2026 earnings, with revenue of $104.77 million, surpassing both the prior period and estimates, while EPS reached $0.38, also above expectations. Despite a significant increase in non-recurring revenues, recurring revenues declined sharply, highlighting volatility in licensing agreements.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.38
- Segment
- IP Licensing
What stood out
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Revenue Growth
Revenue grew by $17.1 million, or 19.5%, from $87.7 million in Q1 2025 to $104.8 million in Q1 2026.
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EPS Surprise
Reported EPS increased to $0.38 from an estimate of $0.32, resulting in a positive surprise of 18.75%.
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Non-Recurring Revenue Surge
Non-recurring revenues skyrocketed by 1067%, from $3.3 million in Q1 2025 to $38.5 million in Q1 2026.
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Operating Cash Flow Increase
Operating cash flow was $58.5 million, up from $57.1 million in Q1 2025, a growth of 2.5%.
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Decreased Interest Expense
Interest expense dropped by $2.1 million (20%) to $8.5 million compared to $10.6 million in Q1 2025.
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Stock Repurchase Program
During Q1 2026, $10 million of common stock was repurchased, with $150 million remaining authorized for repurchase.
What to watch
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Recurring Revenue Decline
Recurring revenues fell by $18.1 million (21.4%) from $84.4 million in Q1 2025 to $66.3 million in Q1 2026.
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Dependence on New Licenses
Revenue growth significantly relies on new license agreements, posing a risk amid potential market volatility.
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Macroeconomic Sensitivity
Adverse macroeconomic conditions could hinder operations, impacting demand and revenue stability.
Management's outlook
Management suggests continued growth driven by licensing agreements but highlights potential market volatility.
Earlier filings 4
10-Q · May 6, 2025
Adeia reported revenue of $87,670 (in thousands) for the three months ended March 31, 2025, up from $83,405 in the prior-year quarter, with operating income increasing to $22,835 from $19,364 and diluted EPS rising to…
10-K · February 19, 2025
Adeia positions itself as an IP‑licensing platform with a large, defensive patent portfolio (approximately 12,250 patent assets) and a strategy to grow via internal R&D, targeted acquisitions and license arrangements…
10-Q · November 12, 2024
Adeia reported third-quarter revenue of $86,101,000 and diluted EPS of $0.17. Revenue declined versus the year-ago quarter (from $101,397,000) and operating income fell to $28,121,000 (operating margin ~32.7%), while…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.