{"id":814439,"date":"2025-02-18T16:34:57","date_gmt":"2025-02-18T21:34:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/adeia-announces-fourth-quarter-and-full-year-2024-financial-results\/"},"modified":"2025-02-18T16:34:57","modified_gmt":"2025-02-18T21:34:57","slug":"adeia-announces-fourth-quarter-and-full-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/adeia-announces-fourth-quarter-and-full-year-2024-financial-results\/","title":{"rendered":"Adeia Announces Fourth Quarter and Full Year 2024 Financial Results"},"content":{"rendered":"
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\n Achieved record post-separation revenue and cash from operations in the fourth quarter
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\n Signed 10 deals in the fourth quarter and 32 during the year
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\n Paid down $50 million of debt and repurchased $20 million of common stock in the fourth quarter<\/em>
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SAN JOSE, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) — Adeia Inc. (Nasdaq: ADEA) (the \u201cCompany\u201d or \u201cAdeia\u201d) today announced financial results for the fourth quarter and full year ended December 31, 2024.<\/p>\n

\u201cOur fourth quarter results showed the evolution of our business model as we continued to grow and expand into our target growth markets. During the quarter, we signed 10 deals across multiple verticals, bringing the total deals for the year to 32. We are very pleased with our deal execution closing out the year with 4 new customer agreements, including important new strategic deals with Amazon, Canon and with a luxury retailer e-commerce customer. These new deals further expand and diversify our customer base. In addition, we continued our strong track record of renewal agreements with Roku and Sharp in the consumer electronics market,\u201d said Paul E. Davis, chief executive officer of Adeia. \u201cOur record post-separation revenue and operating cash flows, and our best-in-class operating margin of 67%, were driven by our strong deal momentum in the fourth quarter. We also executed on our balanced capital allocation approach in the quarter, making accelerated debt payments of $50.0 million, repurchasing $20.0 million of our common stock, acquiring strategic patent assets and maintaining our dividend program.\u201d<\/p>\n

\u201cIn 2024 we grew our total patent portfolio by an impressive 12% year over year, ending with over 12,000 total patent assets at year-end,\u201d continued Davis. \u201cThe growth in our patent portfolio was fueled by our internal R&D efforts focused on innovations for generative AI, disruptive technologies targeted towards our adjacent media markets, and emerging technologies for the semiconductor industry. Our R&D teams are dedicated to solving the critical future needs of the semiconductor and media markets, and this continues to drive both new deal wins and renewals with our existing customers. I\u2019m encouraged by the progress we\u2019ve made in our business in 2024 including the expansion of our pipeline of new opportunities. In the coming year, we plan to add new customers in our target growth markets while maintaining our high renewal rate in our core markets. Our strong operational execution and financial performance over the past year provide a solid foundation for growth in 2025.\u201d<\/p>\n

\n Fourth Quarter Financial Highlights <\/strong>\n <\/p>\n