Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

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Equity Bottom-Up

<ul>
<li>XPER reported third quarter results in line with our forecast and reaching an inflection point in revenue where the operating leverage of the business becomes visible.</li>
<li>Ahead of the results, there had been worries over XPER’s exposure to consumer electronics and pay TV industries that could cripple revenue growth.</li>
<li>XPER reported third quarter revenue of $130.4 million compared to our forecast of $130.9 million. Adjusted EBITDA reached $9.3 million compared to our forecast of $9.2 million</li>
</ul>


XPER reported third quarter results in line with our forecast and reaching an inflection point in revenue where the operating leverage of the business becomes visible.
Ahead of the results, there had been worries over XPER’s exposure to consumer electronics and pay TV industries that could cripple revenue growth.
XPER reported third quarter revenue of $130.4 million compared to our forecast of $130.9 million. Adjusted EBITDA reached $9.3 million compared to our forecast of $9.2 million


<ul>
<li>XPER held an investor day to highlight the two businesses XPER would separate into on October 1, 2022.</li>
<li>The expectation is the two companies operating separately would be able to grow faster without worries over customer relationship to the other segment.</li>
<li>Xperi has been the underpinning of our investment thesis due to the investments the Company has made in different products and customer engagements.</li>
</ul>


XPER held an investor day to highlight the two businesses XPER would separate into on October 1, 2022.
The expectation is the two companies operating separately would be able to grow faster without worries over customer relationship to the other segment.
Xperi has been the underpinning of our investment thesis due to the investments the Company has made in different products and customer engagements.


<ul>
<li>XPER reported second quarter results underscoring the progress the Company has made in securing new design wins and revenue opportunities for its connected car and media platform segments</li>
<li>Simultaneous with the second quarter results, XPER announced Sharp would use TiVo operating system for smart TVs starting in 2024</li>
<li>New design wins for DTS AutoSense and DTS AutoStage are expected to translate into revenue towards the end of 2024</li>
</ul>


XPER reported second quarter results underscoring the progress the Company has made in securing new design wins and revenue opportunities for its connected car and media platform segments
Simultaneous with the second quarter results, XPER announced Sharp would use TiVo operating system for smart TVs starting in 2024
New design wins for DTS AutoSense and DTS AutoStage are expected to translate into revenue towards the end of 2024


<ul>
<li>XPER reported new customer wins with the release of first quarter results. Continued expansion of XPER’s customer base in connected TV and cars affirms our thesis</li>
<li>XPER had already won a major TV OEM in Europe and has now won a second TV producer planning to use TiVo OS</li>
<li>XPER announced a global program design win with a Japanese automaker for DTS AutoStage</li>
</ul>


XPER reported new customer wins with the release of first quarter results. Continued expansion of XPER’s customer base in connected TV and cars affirms our thesis
XPER had already won a major TV OEM in Europe and has now won a second TV producer planning to use TiVo OS
XPER announced a global program design win with a Japanese automaker for DTS AutoStage


<ul>
<li>XPER reported fourth quarter results benefiting from an increase in IPTV subscribers on its TV platform and greater amount of ad impressions on its media platform.</li>
<li>XPER has been developing several products over the last three years that are beginning to gain traction with customers and showing up on the revenue line</li>
<li>The fourth quarter results affirmed there is demand for the software XPER has developed and it should become more apparent to investors on the profitability trajectory later this year</li>
</ul>


XPER reported fourth quarter results benefiting from an increase in IPTV subscribers on its TV platform and greater amount of ad impressions on its media platform.
XPER has been developing several products over the last three years that are beginning to gain traction with customers and showing up on the revenue line
The fourth quarter results affirmed there is demand for the software XPER has developed and it should become more apparent to investors on the profitability trajectory later this year


United States

Xperi Holding Corp creates, develops, and licenses audio, computational imaging, computer vision and semiconductor packaging and interconnect technologies. The Company offers its products and solutions to mobile, home, datacenter, and automotive industries.

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Xperi (XPER US)

XPER: Scaled for Growth

XPER gained additional customers within each of its product segments. We expect these design wins to contribute to revenue in 2024 and more so in 2025

BWS Financial Inc

XPER: Unlocking Value Thru Separation

The separation of the product business from the IP business should unlock value compared to the combined company. Xperi is expected to grow the...

BWS Financial Inc

XPER: Connected Car Connected Earnings

XPER reported slightly better than our forecast Q2 results. More importantly, XPER disclosed additional customer wins for TiVo OS and DTS...

BWS Financial Inc

XPER: More Design Wins Pathing Revenue

XPER continues to make progress adding new customers. New TVOS and connected car customers were the highlight of the first quarter earnings report

BWS Financial Inc

XPER: Guidance Affirms Trajectory

Fourth quarter results were slightly ahead of our estimates, but it was 2023 guidance that investors were looking forward to. XPER's guidance...

BWS Financial Inc

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