Adeia Inc. reported its financial results for the second quarter of 2025, revealing a slight decline in revenue compared to the same period in 2024. The company generated $85.7 million in revenue for the three months ended June 30, 2025, down from $87.4 million in the prior year, marking a decrease of 1.8%. However, for the six-month period, revenue increased by 1.6% to $173.4 million, compared to $170.8 million in 2024. The company's net income for the second quarter was $16.7 million, or $0.15 per diluted share, significantly up from $8.4 million, or $0.07 per diluted share, in the same quarter last year.
The decrease in quarterly revenue was primarily attributed to a lack of non-recurring revenue, which had been bolstered in the previous year by a settlement agreement with X Corp. Recurring revenue, however, saw an increase of 3.4% year-over-year, driven by new licensing agreements. Operating expenses rose to $69.3 million in the second quarter, up from $63.7 million in the prior year, largely due to increased selling, general, and administrative costs, which rose by 31% to $32.1 million. This increase was attributed to higher personnel costs and advertising expenses.
Adeia's balance sheet as of June 30, 2025, showed total assets of $1.08 billion, a decrease from $1.10 billion at the end of 2024. The company reported cash and cash equivalents of $84.2 million, alongside marketable securities of $32.2 million. Total liabilities decreased to $680.0 million from $701.4 million, with long-term debt standing at $427.9 million. The company made significant principal payments of $28.2 million on its term loan during the first half of 2025.
In terms of strategic developments, Adeia repurchased approximately 0.8 million shares of its common stock for $10 million during the first quarter of 2025, as part of its ongoing stock repurchase program. The company also declared a cash dividend of $0.05 per share, payable in September 2025. Looking ahead, Adeia anticipates continued growth in recurring revenue driven by new licensing agreements, although it remains cautious about potential impacts from macroeconomic conditions and market volatility. The company expects to maintain sufficient liquidity to meet its operational needs and capital requirements over the next 12 months.
About Adeia Inc.
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