Adeia Inc.

Overview

Adeia operates an IP licensing platform serving the media and semiconductor ecosystems. The company invents, develops, acquires, and licenses technologies that enable entertainment experiences, media services, consumer electronics, and semiconductor devices.

Technology focus

• Media-related areas: media guidance, discovery, search, recommendations, personalization, data analytics, advertising, computer vision, content storage, and high-performance computing.
• Semiconductor-related areas: logic, memory, hybrid bonding (DBI), advanced processing nodes, thermal solutions, co-optimization, and related packaging/integration technologies.

Intellectual property

• Total patent assets: approximately 13,750 media and semiconductor patents and patent applications combined.
• Patent distribution:
  • United States: about 6,250 issued patents and 1,950 patent applications.
  • Foreign (non-U.S.): about 4,100 issued patents and 1,450 patent applications.
• Internal innovation engine accounts for about 80% of the combined patent portfolio.

Markets and customers

Primary markets and customer types:

• MVPDs (multichannel video programming distributors) and virtual MVPDs
• OTT video service providers (SVOD/FAST)
• Consumer electronics manufacturers
• Social media companies
• Semiconductor industry participants (memory, logic, sensors, RF devices)

Revenue concentration (2025): five customers represented 55.7% of aggregate revenue for the year ended December 31, 2025, including major OTT, consumer electronics, social media, and semiconductor companies.

Business model and monetization

• Revenue is primarily generated by licensing patent portfolios and related technologies to leading companies across media and semiconductor sectors.
• Licensing arrangements may include fixed fees, per-unit fees, production-based fees, milestone fees, or combinations of these.
• Some licenses have fixed terms with renewal or replacement obligations; some convert to fully paid-up licenses at expiration.
• The company emphasizes recurring, annual revenue from ongoing licensing relationships across multiple markets.

Corporate structure and history

• Adeia was introduced as the brand for the IP licensing business of Xperi Holding Corporation in February 2022. On October 1, 2022, the IP licensing business became an independent, publicly traded company named Adeia Inc.
• Headquarters and offices:
  • Corporate headquarters: 62,000 square feet in San Jose, California
  • Burbank, California office: ~5,336 square feet
  • Morrisville, North Carolina office: ~2,737 square feet
• Trademarks: Adeia and the Adeia logo are trademarks or registered trademarks of Adeia Inc. or its affiliates.

People and operations

• Employees: approximately 150 full-time employees (as of December 31, 2025), with substantially all located in the United States.
• Talent priorities: competitive compensation, performance-based rewards, development opportunities, and a learning organization mindset. There are no collective bargaining agreements in place.

Selected financial and liquidity items (from 2025 filings)

• Debt: $426.7 million outstanding under Term Loan B (guaranteed by the company and certain subsidiaries; secured by substantially all assets).
• Cash and investments: approximately $73.1 million in cash and cash equivalents; about $63.6 million in marketable securities.
• Equity actions: stock repurchase program authorized up to $200 million; approximately $160.0 million remaining available for repurchases as of December 31, 2025.
• Dividends: quarterly cash dividend of $0.05 per share since July 2020.

IP protection and litigation

• Adeia protects its IP through patents and, when necessary, litigation to enforce licensing rights. The company has pursued settlements and licenses with various parties and has been involved in matters across North America, Europe, and Brazil.

Cybersecurity and governance

• Cybersecurity risk management is integrated into overall risk practices, with oversight by the Board and the audit committee. Controls include multi-factor authentication, layered defenses, third-party risk assessments, incident response engagements, and periodic updates to the audit committee and the Board. External cybersecurity partners support ongoing testing and risk assessment.

Growth opportunities

Areas identified for growth:

• Deeper OTT licensing penetration
• International MVPD licensing expansion
• Co-optimization and 3D integration approaches in semiconductors
• Expansion into adjacent markets such as advertising technology, automotive, e-commerce, gaming, and music streaming