Adeia Inc

adeia.com

What Do They Do?

Licenses media technologies to media and consumer-electronics companies, and semiconductor technologies to chipmakers.

How Do They Make Money?

Media customers pay monthly per-subscriber fees, fixed fees for specified periods, or royalties tied to sales or usage. Semiconductor customers pay fixed or minimum-guarantee fees, per-unit or production-based fees, and milestone fees; additional per-unit fees apply beyond a minimum.

revenue

Segment	Share	Revenue	How money arrives
Media Platform Mix	94% FY2022: 83%		Mix
Semiconductor	5.8% FY2022: 17%

Who Are Their Customers?

Adeia licenses media IP to television, streaming and social media services and consumer electronics makers, and semiconductor IP to chipmakers.

Do Revenues Turn Into Profits?

Yes. It kept 25 cents of every revenue dollar as net income in FY2025 and turned 35 cents into free cash flow.

Operating income, FY2025

39% of revenue

▲ +36% vs FY2024 ($128.6M, 34%)

Net income, FY2025

25% of revenue

▲ +72% vs FY2024 ($64.6M, 17%)

Free cash flow, FY2025

35% of revenue

▼ −26% vs FY2024 ($210.6M, 56%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +12%; vs $85.7M in Q2 FY2025
Net income: ▲ +4%; vs $16.7M in Q2 FY2025

Media Platform share of revenue vs 94.5% in Q2 FY2025

Aug 3, 2026 Raised long-term annual revenue outlook to $600 million The company cited confidence in its semiconductor business reaching $200 million in annual revenue.
May 4, 2026 CEO Paul E. Davis plans to step down He plans to remain until a successor is named, with the search targeted for completion by the fourth quarter of 2026.
Mar 9, 2026 Signed a semiconductor license with Advanced Micro Devices The multi-year license provides access to Adeia's semiconductor intellectual property portfolio and resolves all existing litigation between the companies.

Growing. Revenue grew 13% in 4 years, from $391.2M in FY2021 to $443.4M in FY2025, about 3% a year.

E-commerce licensing E-commerce moves beyond a possible adjacent market: the older report lists it as an area for future licensing, while the latest says Adeia has traction and multiple deals there.

Broader semiconductor technologies The older report focused on hybrid bonding and advanced processing nodes; the latest also describes thermal solutions, microLEDs and co-optimization.

Revenue over time

Media Platform Semiconductor

$500M$250M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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