ADEA

MKT CAP:$3B

Adeia Inc.

Market Cap

$3B

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$28.93+$11.35 (+64.56%)

Apr 17, 2026

Company Details

Adeia Inc., together with its subsidiaries, operates as a consumer and entertainment product/solutions licensing company worldwide. It licenses its innovations to companies in the entertainment industry under the Adeia brand. The company li...

CEO

Paul E. Davis

IPO Date

Nov 20, 2003

Website

adeia.com

Key Metrics TTM

Revenue

$443M

+17.9% YoY

Net Income

$111M

EPS (Diluted)

$0.98

Free Cash Flow

$156M

Revenue / Share

$3.93

Gross Margin

86.9%

Operating Margin

45.4%

Net Margin

25.1%

FCF Margin

35.2%

P/S

7.5x

P/E

30.0x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 26, 2026

$443M+17.9%EPS $0.99

Q4 2025

Feb 26, 2026

$183M+53.3%EPS $0.65

Q3 2025

Nov 6, 2025

$87M+1.4%EPS $0.08

Q2 2025

Aug 7, 2025

$86M-1.8%EPS $0.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 18	$72M	$40M	-$12M
Q2 20	$138M	$93M	-$14M
Q3 22	$89M	$43M	$19M
Q4 22	$103M	$79M	$35M
Q1 23	$117M	$93M	$59M
Q2 23	$83M	$59M	$20M
Q3 23	$101M	$78M	$42M
Q4 23	$87M	$63M	$25M
Q1 24	$83M	$60M	$22M
Q2 24	$87M	$67M	$28M
Q3 24	$86M	$72M	$31M
Q4 24	$119M	$105M	$62M
Q1 25	$88M	$73M	$29M
Q2 25	$86M	$71M	$24M
Q3 25	$87M	$73M	$32M
Q4 25	$183M	$168M	$117M

Valuation

Quarter	P/S	P/E
Q3 18	10.2x	—
Q2 20	9.8x	—
Q3 22	9.2x	—
Q4 22	8.3x	—
Q1 23	7.5x	—
Q2 23	8.5x	—
Q3 23	8.2x	26.0x
Q4 23	8.6x	49.5x
Q1 24	9.4x	85.0x
Q2 24	9.3x	72.2x
Q3 24	9.7x	80.8x
Q4 24	8.9x	51.6x
Q1 25	8.8x	44.2x
Q2 25	8.8x	39.8x
Q3 25	8.8x	45.5x
Q4 25	7.5x	30.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 18	$29M	$26M
Q2 20	$35M	$33M
Q3 22	$55M	$51M
Q4 22	$41M	$41M
Q1 23	$63M	$63M
Q2 23	$29M	$27M
Q3 23	$21M	$21M
Q4 23	$39M	$35M
Q1 24	$67M	$58M
Q2 24	$23M	$23M
Q3 24	$14M	$14M
Q4 24	$107M	$95M
Q1 25	$57M	$57M
Q2 25	$23M	$23M
Q3 25	$18M	$17M
Q4 25	$60M	$59M

Capital Expenditures

Quarter	CapEx
Q3 18	$3M
Q2 20	$1M
Q3 22	$4M
Q4 22	$0
Q1 23	$390.0K
Q2 23	$1M
Q3 23	$391.0K
Q4 23	$4M
Q1 24	$9M
Q2 24	$421.0K
Q3 24	$60.0K
Q4 24	$13M
Q1 25	$228.0K
Q2 25	$192.0K
Q3 25	$796.0K
Q4 25	$590.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 18	-18.2%	-5.4%
Q2 20	+8.7%	+62.0%
Q3 22	+36.3%	-21.3%
Q4 22	+61.5%	-19.3%
Q1 23	+62.1%	-30.7%
Q2 23	-39.5%	-58.3%
Q3 23	+13.6%	-16.2%
Q4 23	-15.9%	-10.4%
Q1 24	-28.9%	+4.4%
Q2 24	+5.0%	-5.9%
Q3 24	-15.1%	-6.3%
Q4 24	+37.2%	-7.2%
Q1 25	+5.1%	-3.5%
Q2 25	-1.8%	+4.6%
Q3 25	+1.4%	-0.3%
Q4 25	+53.3%	+15.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 18	$7M	10.3%
Q2 20	$0	0.0%
Q3 22	$17M	19.0%
Q4 22	$3M	3.2%
Q1 23	$4M	3.1%
Q2 23	$5M	5.5%
Q3 23	$5M	4.8%
Q4 23	$5M	5.7%
Q1 24	$5M	6.2%
Q2 24	$7M	7.5%
Q3 24	$7M	8.6%
Q4 24	$7M	6.3%
Q1 25	$8M	9.4%
Q2 25	$9M	10.1%
Q3 25	$9M	9.9%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q3 18	$24M	$28M
Q2 20	$38M	$68M
Q3 22	$12M	$13M
Q4 22	$12M	$32M
Q1 23	$13M	$21M
Q2 23	$13M	$26M
Q3 23	$14M	$22M
Q4 23	$14M	$24M
Q1 24	$14M	$24M
Q2 24	$15M	$24M
Q3 24	$15M	$26M
Q4 24	$16M	$27M
Q1 25	$16M	$28M
Q2 25	$16M	$32M
Q3 25	$16M	$24M
Q4 25	$19M	$33M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 18	-18.2%	15.0%	-3.3
Q2 20	8.7%	7.2%	15.9
Q3 22	36.3%	70.2%	106.5
Q4 22	61.5%	56.2%	117.7
Q1 23	62.1%	68.9%	131.0
Q2 23	-39.5%	52.1%	12.6
Q3 23	13.6%	64.5%	78.0
Q4 23	-15.9%	55.6%	39.7
Q1 24	-28.9%	53.3%	24.4
Q2 24	5.0%	51.7%	56.6
Q3 24	-15.1%	50.7%	35.6
Q4 24	37.2%	61.5%	98.7
Q1 25	5.1%	44.6%	49.8
Q2 25	-1.8%	37.9%	36.1
Q3 25	1.4%	49.4%	50.8
Q4 25	53.3%	68.5%	121.8

Rule of 40

Revenue Segments

Quarter	Intellectual Property Licensing Revenue	Media Platform	Semiconductor
Q3 22	$89M	—	—
Q3 23	—	$96M	$6M
Q1 24	—	$80M	$3M
Q2 24	—	$84M	$4M
Q3 24	—	$82M	$4M
Q1 25	—	$84M	$4M
Q2 25	—	$81M	$5M
Q3 25	—	$80M	$8M
Q4 25	—	$173M	$10M

Revenue by Geography

Quarter	Asia	Europe And Middle East	Other Asia	U.S. And Canada	Canada	United States
Q1 23	$29M	$2M	$414.0K	$86M	—	—
Q2 23	$7M	$2M	$436.0K	$73M	—	—
Q3 23	$21M	$2M	$450.0K	$78M	—	—
Q1 24	$10M	$2M	$451.0K	—	$3M	$68M
Q2 24	$10M	$2M	$455.0K	—	$3M	$72M
Q3 24	$12M	$2M	$468.0K	—	$3M	$68M
Q4 24	$17M	$3M	$467.0K	—	$3M	$95M
Q1 25	$11M	$2M	$465.0K	—	$3M	$72M
Q2 25	$12M	$2M	$464.0K	—	$3M	$68M
Q3 25	$15M	$2M	$479.0K	—	$3M	$66M
Q4 25	$17M	$4M	$477.0K	—	$3M	$158M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$214M	$53M	$267M
Q2 22	$275M	$10M	$286M
Q3 22	$271M	$1M	$272M
Q4 22	$115M	$0	$115M
Q1 23	$82M	$0	$82M
Q2 23	$60M	$24M	$84M
Q3 23	$52M	$30M	$82M
Q4 23	$55M	$29M	$84M
Q1 24	$58M	$31M	$89M
Q2 24	$66M	$28M	$94M
Q3 24	$61M	$28M	$89M
Q4 24	$79M	$32M	$110M
Q1 25	$84M	$32M	$117M
Q2 25	$84M	$32M	$116M
Q3 25	$56M	$59M	$115M
Q4 25	$73M	$64M	$137M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 18	49M	-0.2%	-1.0%
Q2 20	69M	+41.3%	+39.3%
Q3 22	105M	+51.1%	+112.0%
Q4 22	105M	+0.6%	+114.3%
Q1 23	113M	+7.9%	+131.7%
Q2 23	113M	-0.6%	+63.1%
Q3 23	113M	+0.1%	+8.1%
Q4 23	113M	-0.1%	+7.3%
Q1 24	113M	+0.1%	-0.4%
Q2 24	113M	-0.4%	-0.2%
Q3 24	113M	+0.5%	+0.2%
Q4 24	114M	+0.4%	+0.7%
Q1 25	113M	-0.5%	+0.0%
Q2 25	112M	-0.7%	-0.3%
Q3 25	113M	+0.6%	-0.3%
Q4 25	113M	+0.1%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 18	—	—
Q2 20	—	—
Q3 22	—	—
Q4 22	$860.8K	120
Q1 23	$977.6K	120
Q2 23	$693.5K	120
Q3 23	$845.0K	120
Q4 23	$668.2K	130
Q1 24	$641.6K	130
Q2 24	$671.9K	130
Q3 24	$662.3K	130
Q4 24	$794.5K	150
Q1 25	$584.5K	150
Q2 25	$571.6K	150
Q3 25	$582.3K	150
Q4 25	$1M	150

Revenue / Employee