Adeia Inc. reported a revenue of $87.7 million for the first quarter of 2025, marking a 5.1% increase from $83.4 million in the same period of 2024. The company's net income rose significantly to $11.8 million, compared to $0.9 million a year earlier, resulting in a basic net income per share of $0.11, up from $0.01. This growth in revenue was primarily driven by new multi-year licensing agreements, including a notable deal with Amazon, which contributed to both recurring and non-recurring revenue streams.
Operating expenses for the quarter totaled $64.8 million, slightly up from $64.0 million in the previous year. The increase was attributed to higher research and development costs, which rose by 18% to $16.5 million, and selling, general, and administrative expenses, which increased by 18% to $28.4 million. Notably, amortization expenses decreased significantly from $23.2 million to $14.1 million, reflecting the full amortization of certain intangible assets in 2024. Litigation expenses doubled to $5.9 million, reflecting increased legal activity.
Adeia's operational metrics showed a slight decline in cash provided by operating activities, which fell to $57.1 million from $67.2 million year-over-year. The company reported total cash, cash equivalents, and marketable securities of $116.5 million as of March 31, 2025, an increase from $110.4 million at the end of 2024. The company also made principal payments of $17.1 million on its long-term debt, which stood at $470 million at the end of the quarter.
In terms of strategic developments, Adeia repurchased approximately 0.8 million shares of its common stock for $10 million during the quarter, as part of a broader $200 million share repurchase program initiated in October 2024. The company continues to focus on its IP licensing segment, which remains its sole reportable segment, and anticipates ongoing growth driven by its extensive patent portfolio and new licensing agreements.
Looking ahead, Adeia expects to maintain its financial trajectory, supported by its strong cash position and ongoing licensing activities. The company remains vigilant regarding macroeconomic conditions that could impact its operations, particularly in the consumer electronics market, but is optimistic about its ability to navigate these challenges while continuing to deliver value to shareholders.
About Adeia Inc.
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