Xperi (XPER)
Market Price (6/22/2026): $7.91 | Market Cap: $374.6 MilSector: Information Technology | Industry: Application Software
Xperi (XPER)
Market Price (6/22/2026): $7.91Market Cap: $374.6 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 42% Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Autonomous Technologies. Themes include Video Streaming, Music Streaming, Show more. | Trading close to highsDist 52W High is -3.3% Weak multi-year price returns2Y Excs Rtn is -33%, 3Y Excs Rtn is -112% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -25 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.6% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 101x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.2% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16% Key risksXPER key risks include [1] persistent unprofitability and indicators of potential financial distress, Show more. |
| Low stock price volatilityVol 12M is 42% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Autonomous Technologies. Themes include Video Streaming, Music Streaming, Show more. |
| Trading close to highsDist 52W High is -3.3% |
| Weak multi-year price returns2Y Excs Rtn is -33%, 3Y Excs Rtn is -112% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -25 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.6% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 101x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.2% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16% |
| Key risksXPER key risks include [1] persistent unprofitability and indicators of potential financial distress, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 6/16/2026
Xperi (XPER) stock has gained about 30% since 2/28/2026 because of the following key factors:
1. Xperi reported strong fiscal Q1 2026 earnings, significantly exceeding analyst expectations, driven by improved profitability.
The company announced its fiscal Q1 2026 results on May 6, 2026, with non-GAAP diluted earnings per share (EPS) of $0.23, substantially beating analyst forecasts of $0.14 by 64.29%. While revenue remained relatively flat year-over-year at $114.2 million, it still surpassed expectations of $109.23 million. Profitability saw a material improvement, with GAAP operating income turning positive at $2.2 million from a prior-year loss, and non-GAAP operating income nearly doubling to $19.1 million. This enhancement was largely due to strategic workforce reductions, which decreased GAAP operating expenses by 20% and non-GAAP adjusted operating expenses by 14% year-over-year.
2. Robust growth in the Media Platform segment and expansion of key product footprints fueled investor confidence.
Xperi's Media Platform revenue grew 45% year-over-year in fiscal Q1 2026, primarily due to accelerating advertising monetization and new partnerships. The TiVo One monthly active users (MAU) more than doubled year-over-year to 5.5 million, with the company aiming for over 7 million MAUs by year-end 2026. Furthermore, the DTS AutoStage footprint expanded by over 45% year-over-year, now reaching 16 million vehicles across 13 automotive brands. In April 2026, Xperi also launched the DTS AutoStage Broadcaster Portal Premium Tier, enhancing radio intelligence and measurement standards. The company reaffirmed its full-year 2026 guidance for revenue between $440 million and $470 million and an adjusted EBITDA margin of 17% to 19%, signaling confidence in its future trajectory.
Show more
Xperi (XPER) stock has gained about 30% since 2/28/2026 because of the following key factors:
1. Xperi reported strong fiscal Q1 2026 earnings, significantly exceeding analyst expectations, driven by improved profitability.
The company announced its fiscal Q1 2026 results on May 6, 2026, with non-GAAP diluted earnings per share (EPS) of $0.23, substantially beating analyst forecasts of $0.14 by 64.29%. While revenue remained relatively flat year-over-year at $114.2 million, it still surpassed expectations of $109.23 million. Profitability saw a material improvement, with GAAP operating income turning positive at $2.2 million from a prior-year loss, and non-GAAP operating income nearly doubling to $19.1 million. This enhancement was largely due to strategic workforce reductions, which decreased GAAP operating expenses by 20% and non-GAAP adjusted operating expenses by 14% year-over-year.
2. Robust growth in the Media Platform segment and expansion of key product footprints fueled investor confidence.
Xperi's Media Platform revenue grew 45% year-over-year in fiscal Q1 2026, primarily due to accelerating advertising monetization and new partnerships. The TiVo One monthly active users (MAU) more than doubled year-over-year to 5.5 million, with the company aiming for over 7 million MAUs by year-end 2026. Furthermore, the DTS AutoStage footprint expanded by over 45% year-over-year, now reaching 16 million vehicles across 13 automotive brands. In April 2026, Xperi also launched the DTS AutoStage Broadcaster Portal Premium Tier, enhancing radio intelligence and measurement standards. The company reaffirmed its full-year 2026 guidance for revenue between $440 million and $470 million and an adjusted EBITDA margin of 17% to 19%, signaling confidence in its future trajectory.
Show more
Updated on 6/16/2026
Xperi (XPER) stock has gained about 30% since 2/28/2026 because of the following key factors:
1. Xperi reported strong fiscal Q1 2026 earnings, significantly exceeding analyst expectations, driven by improved profitability.
The company announced its fiscal Q1 2026 results on May 6, 2026, with non-GAAP diluted earnings per share (EPS) of $0.23, substantially beating analyst forecasts of $0.14 by 64.29%. While revenue remained relatively flat year-over-year at $114.2 million, it still surpassed expectations of $109.23 million. Profitability saw a material improvement, with GAAP operating income turning positive at $2.2 million from a prior-year loss, and non-GAAP operating income nearly doubling to $19.1 million. This enhancement was largely due to strategic workforce reductions, which decreased GAAP operating expenses by 20% and non-GAAP adjusted operating expenses by 14% year-over-year.
2. Robust growth in the Media Platform segment and expansion of key product footprints fueled investor confidence.
Xperi's Media Platform revenue grew 45% year-over-year in fiscal Q1 2026, primarily due to accelerating advertising monetization and new partnerships. The TiVo One monthly active users (MAU) more than doubled year-over-year to 5.5 million, with the company aiming for over 7 million MAUs by year-end 2026. Furthermore, the DTS AutoStage footprint expanded by over 45% year-over-year, now reaching 16 million vehicles across 13 automotive brands. In April 2026, Xperi also launched the DTS AutoStage Broadcaster Portal Premium Tier, enhancing radio intelligence and measurement standards. The company reaffirmed its full-year 2026 guidance for revenue between $440 million and $470 million and an adjusted EBITDA margin of 17% to 19%, signaling confidence in its future trajectory.
3. Positive analyst sentiment and elevated price targets contributed to the upward stock movement.
Following the strong fiscal Q1 2026 results, several analysts reiterated "Buy" ratings for Xperi's stock. As of early May 2026, the average analyst price target for Xperi was $11.00, with individual targets ranging from $9.00 to $13.00. This average target implied a significant upside potential of 42.67% from the stock's price around that time, with the overall analyst consensus being a "Strong Buy".
Show less
Xperi (XPER) stock has gained about 30% since 2/28/2026 because of the following key factors:
1. Xperi reported strong fiscal Q1 2026 earnings, significantly exceeding analyst expectations, driven by improved profitability.
The company announced its fiscal Q1 2026 results on May 6, 2026, with non-GAAP diluted earnings per share (EPS) of $0.23, substantially beating analyst forecasts of $0.14 by 64.29%. While revenue remained relatively flat year-over-year at $114.2 million, it still surpassed expectations of $109.23 million. Profitability saw a material improvement, with GAAP operating income turning positive at $2.2 million from a prior-year loss, and non-GAAP operating income nearly doubling to $19.1 million. This enhancement was largely due to strategic workforce reductions, which decreased GAAP operating expenses by 20% and non-GAAP adjusted operating expenses by 14% year-over-year.
2. Robust growth in the Media Platform segment and expansion of key product footprints fueled investor confidence.
Xperi's Media Platform revenue grew 45% year-over-year in fiscal Q1 2026, primarily due to accelerating advertising monetization and new partnerships. The TiVo One monthly active users (MAU) more than doubled year-over-year to 5.5 million, with the company aiming for over 7 million MAUs by year-end 2026. Furthermore, the DTS AutoStage footprint expanded by over 45% year-over-year, now reaching 16 million vehicles across 13 automotive brands. In April 2026, Xperi also launched the DTS AutoStage Broadcaster Portal Premium Tier, enhancing radio intelligence and measurement standards. The company reaffirmed its full-year 2026 guidance for revenue between $440 million and $470 million and an adjusted EBITDA margin of 17% to 19%, signaling confidence in its future trajectory.
3. Positive analyst sentiment and elevated price targets contributed to the upward stock movement.
Following the strong fiscal Q1 2026 results, several analysts reiterated "Buy" ratings for Xperi's stock. As of early May 2026, the average analyst price target for Xperi was $11.00, with individual targets ranging from $9.00 to $13.00. This average target implied a significant upside potential of 42.67% from the stock's price around that time, with the overall analyst consensus being a "Strong Buy".
Show less
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Stock Movement Drivers
Fundamental Drivers
The 29.5% change in XPER stock from 2/28/2026 to 6/21/2026 was primarily driven by a 31.7% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.13 | 7.94 | 29.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 448 | 448 | 0.0% |
| P/S Multiple | 0.6 | 0.8 | 31.7% |
| Shares Outstanding (Mil) | 47 | 47 | -1.7% |
| Cumulative Contribution | 29.5% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| XPER | 29.5% | |
| Market (SPY) | 9.2% | 37.7% |
| Sector (XLK) | 38.1% | 36.6% |
Fundamental Drivers
The 37.1% change in XPER stock from 11/30/2025 to 6/21/2026 was primarily driven by a 42.1% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.79 | 7.94 | 37.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 454 | 448 | -1.3% |
| P/S Multiple | 0.6 | 0.8 | 42.1% |
| Shares Outstanding (Mil) | 46 | 47 | -2.3% |
| Cumulative Contribution | 37.1% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| XPER | 37.1% | |
| Market (SPY) | 9.9% | 40.5% |
| Sector (XLK) | 34.1% | 36.6% |
Fundamental Drivers
The 1.9% change in XPER stock from 5/31/2025 to 6/21/2026 was primarily driven by a 17.6% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.79 | 7.94 | 1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 489 | 448 | -8.3% |
| P/S Multiple | 0.7 | 0.8 | 17.6% |
| Shares Outstanding (Mil) | 45 | 47 | -5.4% |
| Cumulative Contribution | 1.9% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| XPER | 1.9% | |
| Market (SPY) | 28.1% | 43.7% |
| Sector (XLK) | 66.8% | 37.8% |
Fundamental Drivers
The -32.9% change in XPER stock from 5/31/2023 to 6/21/2026 was primarily driven by a -11.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.83 | 7.94 | -32.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 448 | 0.0% |
| P/S Multiple | � | 0.8 | 0.0% |
| Shares Outstanding (Mil) | 42 | 47 | -11.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| XPER | -32.9% | |
| Market (SPY) | 85.7% | 42.0% |
| Sector (XLK) | 137.9% | 36.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| XPER Return | -14% | -52% | 28% | -7% | -43% | 31% | -63% |
| Peers Return | -8% | -34% | -15% | 89% | -46% | -8% | -51% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| XPER Win Rate | 42% | 8% | 50% | 50% | 42% | 50% | |
| Peers Win Rate | 50% | 25% | 52% | 78% | 53% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| XPER Max Drawdown | -28% | -68% | -40% | -42% | -48% | -18% | |
| Peers Max Drawdown | -27% | -42% | -17% | -55% | -62% | -43% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADSK, HIT, BMR, QNT, RTB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | XPER | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.9% | -7.8% |
| % Gain to Breakeven | 12.3% | 8.5% |
| Time to Breakeven | 13 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.8% | -6.7% |
| % Gain to Breakeven | 13.4% | 7.1% |
| Time to Breakeven | 15 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.4% | -33.7% |
| % Gain to Breakeven | 73.5% | 50.9% |
| Time to Breakeven | 133 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -17.7% | -19.2% |
| % Gain to Breakeven | 21.5% | 23.8% |
| Time to Breakeven | 47 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -25.0% | -12.2% |
| % Gain to Breakeven | 33.3% | 13.9% |
| Time to Breakeven | 222 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -13.6% | -6.8% |
| % Gain to Breakeven | 15.8% | 7.3% |
| Time to Breakeven | 18 days | 15 days |
In The Past
Xperi's stock fell -10.9% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 12.3% gain to breakeven.
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Asset Allocation
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| Event | XPER | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -42.4% | -33.7% |
| % Gain to Breakeven | 73.5% | 50.9% |
| Time to Breakeven | 133 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -25.0% | -12.2% |
| % Gain to Breakeven | 33.3% | 13.9% |
| Time to Breakeven | 222 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -36.3% | -17.9% |
| % Gain to Breakeven | 57.0% | 21.8% |
| Time to Breakeven | 94 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -30.1% | -15.4% |
| % Gain to Breakeven | 43.1% | 18.2% |
| Time to Breakeven | 168 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -79.4% | -53.4% |
| % Gain to Breakeven | 386.1% | 114.4% |
| Time to Breakeven | 2260 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -25.2% | -8.6% |
| % Gain to Breakeven | 33.6% | 9.5% |
| Time to Breakeven | 2735 days | 47 days |
In The Past
Xperi's stock fell -10.9% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 12.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Xperi (XPER)
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Xperi Holding Corporation (XPER) is a technology licensing company that invents, develops, and delivers a wide array of solutions primarily for the consumer and entertainment sectors. Operating globally, the company generates revenue by licensing its innovations through two main segments: Product Licensing and Intellectual Property Licensing. This business model allows Xperi to monetize its technological advancements across various industries without manufacturing the end products themselves.
The company's key offerings include a portfolio of advanced technologies under well-known brands. These encompass audio solutions (DTS), digital radio (HD Radio), imaging, and edge-based machine learning (Perceive). Xperi also provides multi-channel video user experience solutions, notably through its TiVo and IMAX Enhanced brands. Beyond entertainment, Xperi's Invensas brand focuses on licensing intellectual property for the semiconductor industry, covering critical areas such as memory, sensors, and radio frequency (RF) components.
Xperi serves a diverse customer base across multiple markets. Its consumer-facing technologies are licensed to major consumer electronics manufacturers and automotive companies, including their supply chain partners. In the media and entertainment space, Xperi's customers include multichannel video programming distributors, OTT video service providers, and emerging social and new media companies. Furthermore, its semiconductor licensing business caters to foundry companies and manufacturers involved in memory, sensors, and RF component production.
```AI Analysis | Feedback
Here are 1-2 brief analogies for Xperi (XPER):
- Xperi is like Dolby Laboratories (DLB) for a broader set of entertainment, automotive, and digital technologies, licensing its audio (DTS), video (IMAX Enhanced), and user experience innovations (TiVo) to manufacturers worldwide.
- Think of Xperi as an ARM Holdings for multimedia and smart entertainment solutions, licensing core underlying technologies and brands like DTS and TiVo that power products from consumer electronics to cars.
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- Audio Technologies (DTS): Xperi licenses audio solutions that provide immersive and high-quality sound experiences for various devices.
- Digital Radio Technologies (HD Radio): Xperi licenses digital radio solutions for improved sound quality, additional content, and enhanced features in broadcast radio.
- Imaging Technologies: Xperi licenses various imaging solutions for consumer electronics, automotive, and other applications.
- Edge-based Machine Learning (Perceive): Xperi licenses technologies that enable efficient on-device artificial intelligence and machine learning capabilities.
- Multi-channel Video User Experience Solutions (TiVo): Xperi licenses solutions for content discovery, DVR, and user interface experiences for video service providers and consumer electronics.
- Semiconductor and Wafer Bonding Technologies (Invensas): Xperi licenses advanced semiconductor packaging and wafer bonding technologies for memory, sensors, and RF components.
- IMAX Enhanced Program: Xperi licenses a certification and licensing program that combines IMAX's cinematic image and sound with DTS audio and HDR technologies for premium home entertainment.
AI Analysis | Feedback
Xperi (symbol: XPER) primarily sells its technologies and solutions to other companies (Business-to-Business or B2B) through licensing agreements. While specific customer names are not provided in the company's public description, its major customers are identifiable by the following categories of companies:
- Consumer Electronics Manufacturers: These companies license Xperi's audio, imaging, and multi-channel video user experience solutions for their products.
- Automotive Manufacturers and Supply Chain Partners: Businesses in the automotive sector utilize Xperi's digital radio, imaging, and other technologies.
- Media and Entertainment Companies: This category includes multichannel video programming distributors, OTT video service providers, social media companies, and other new media entities that license Xperi's media-related technologies.
- Semiconductor Industry Companies: This encompasses memory, sensors, RF component, and foundry companies.
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Here is information on Xperi's management team:
Jon Kirchner, Chief Executive Officer
Jon Kirchner has been a leader in the technology sector for over two decades and currently serves as the Chief Executive Officer and President of Xperi Inc.. He joined DTS in 1993, where he held various leadership positions, including President, Chief Operating Officer, and Chief Financial Officer, before becoming CEO in 2010. Kirchner was a key architect behind the 2016 merger of DTS and Tessera, which formed Xperi, and later navigated the 2022 separation of Xperi's product business (Xperi Inc.) from its intellectual property licensing business (Adeia Inc.). He is recognized for transforming DTS from a small startup into a globally recognized leader in audio enhancement and delivery technology. His experience includes leading international growth businesses and successfully raising public and private capital.
Robert Andersen, Chief Financial Officer
Robert Andersen serves as the Chief Financial Officer of Xperi Inc.. He was appointed to this role following the completion of the merger between Xperi and TiVo in June 2020.
Geir Skaaden, Chief Products and Services Officer
Geir Skaaden is the Chief Products and Services Officer at Xperi Inc.. He was part of the new senior leadership team announced after the merger of Xperi and TiVo in June 2020.
Matthew Milne, President of TiVo Ads and Chief Revenue Officer
Matthew Milne holds the titles of President of TiVo Ads and Chief Revenue Officer at Xperi Inc.. He was appointed to these roles as part of the new leadership team following the merger of Xperi and TiVo in June 2020.
John Pernin, Chief Strategy and Corporate Development Officer
John Pernin is the Chief Strategy and Corporate Development Officer for Xperi Inc.. He was included in the new senior leadership team announced in June 2020, following the merger of Xperi and TiVo.
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The key risks to Xperi's business are:
1. Financial Health and Profitability Challenges
Xperi faces significant financial health concerns, including a low Altman Z-Score, which indicates potential financial distress. The company has reported negative free cash flow yield and return on equity, alongside negative operating and net margins, highlighting ongoing profitability challenges. Revenue has been declining in certain segments, notably Core Pay TV, which experienced a 38% decrease in 2025. High research and development expenses coupled with continued losses further strain its financial position. There is also investor skepticism regarding the timeline for monetizing its growing user base despite achieving platform scale.2. Intense Competition and Risk of Technology Obsolescence
Xperi operates in markets characterized by rapid change, technological evolution, and the potential for obsolescence. The company faces an increasingly competitive landscape across all its businesses. Its Media Platform and Pay-TV solutions, for instance, compete with other TV operating systems, program guides, over-the-top (OTT) applications, and even proprietary solutions developed by customers themselves. The ability to consistently develop and deliver innovative technologies and services in a timely manner is crucial, and a failure to do so poses a significant threat.3. Intellectual Property Licensing and Litigation Risks
Xperi's business model heavily relies on its intellectual property (IP) licensing. A primary risk involves the expiration of license agreements and the potential cessation of associated royalty income, as well as the risk of licensees failing or refusing to pay royalties. The company is exposed to the initiation, delays, setbacks, or losses arising from IP litigation, including the potential invalidation or limitation of key patents. The timing of new license agreements and ongoing legal costs can also lead to fluctuations in operating results. Furthermore, engaging in IP litigation with large electronics manufacturers can complicate efforts to sell product-side businesses to those same manufacturers.AI Analysis | Feedback
The following are clear emerging threats for Xperi (XPER):
The increasing ubiquity and consumer preference for streaming audio services (e.g., Spotify, Apple Music, podcasts, satellite radio) delivered through integrated automotive infotainment systems (e.g., Apple CarPlay, Android Auto, or built-in apps). This trend could significantly diminish the long-term demand from automotive manufacturers and supply chain partners for traditional broadcast digital radio technologies, such as Xperi's HD Radio, as consumers increasingly bypass over-the-air broadcasts in favor of internet-delivered content.
The continued maturation and widespread adoption of highly integrated and sophisticated smart TV operating systems (e.g., Roku OS, Google TV, Apple TV, Samsung Tizen, LG webOS) and the user interfaces provided directly by major streaming services. As these default platforms become the primary and often sufficient gateways for content discovery and consumption, the need for consumer electronics manufacturers, multichannel video programming distributors, and OTT service providers to license separate "multi-channel video user experience solutions" from Xperi (under the TiVo brand) could significantly decrease, potentially eroding a core licensing market.
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Xperi Holding Corporation (NASDAQ: XPER) operates in several significant addressable markets through its various product and licensing solutions. These markets include automotive, consumer electronics, pay-TV, media platforms, and semiconductor technologies.
Connected Car (DTS, HD Radio, DTS AutoStage)
- The global automotive car audio market, where Xperi's DTS and HD Radio technologies are utilized, was valued at approximately USD 11.24 billion in 2025 and is projected to reach around USD 24.95 billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 8.3% from 2026 to 2035. Asia Pacific held the largest share of this market in 2025. Another estimate places the global car audio market at USD 11.10 billion in 2025, with a projected growth to USD 20.72 billion by 2034 at a CAGR of 7.21%.
- The global digital mobile radio (DMR) market, relevant to Xperi's digital radio offerings, was valued at USD 7.44 billion in 2025 and is expected to grow to USD 18.76 billion by 2033, with a CAGR of 12.26% from 2026-2033. North America was the largest regional market in 2024, while Asia Pacific held a significant share in 2025.
- The broader global digital radio broadcasting market was valued at $83.18 billion in 2025 and is forecast to reach $132.72 billion by 2030, with a CAGR of 9.8%. North America constituted the largest region in this market in 2025.
- Xperi's DTS AutoStage connected car platform has expanded its footprint to over 14 million vehicles as of year-end 2025, predominantly in North America. HD Radio technology is currently available in more than 115 million vehicles worldwide.
Media Platform (TiVo, TiVo OS)
- The global video streaming market, where TiVo's video user experience solutions and media platforms operate, was valued at USD 811.37 billion in 2025 and is projected to reach USD 3,394.56 billion by 2034, demonstrating a substantial CAGR of 17.00%. North America held the largest share of this market in 2025.
- The video streaming software market is projected to grow globally from USD 13.3 billion in 2024 to USD 29.7 billion by 2029, at a CAGR of 17.5%.
- The global video live streaming solutions market was valued at USD 6.17 billion in 2024 and is expected to grow to USD 35.61 billion by 2033, exhibiting a CAGR of 21.5% from 2026 to 2033. North America was the dominant region in 2021.
- Xperi's TiVo One advertising platform surpassed 5.3 million monthly active users at the end of 2025, with a target to exceed 7 million by the end of 2026 and achieve an annual revenue per user (ARPU) exit rate above $10. The TiVo OS Smart TV footprint was approaching one million units as of November 2025.
Semiconductor and Edge-based Machine Learning (Invensas, Perceive)
- The global edge AI hardware market, which includes technologies like Xperi's Perceive, was valued at USD 21.86 billion in 2024 and is projected to reach USD 107.15 billion by 2034, with a CAGR of 17.3% from 2025-2034. North America was the leading market in 2024. Another estimate values the global edge AI market at USD 35.81 billion in 2025, with a projected growth to USD 385.89 billion by 2034, exhibiting a CAGR of 33.30%.
- The global advanced memory packaging market, where Xperi's Invensas technologies play a role, was valued at USD 31.3 billion in 2025 and is expected to reach USD 46.2 billion by 2032, growing at a CAGR of 5.7%. Other sources estimate the global memory packaging market at USD 27.56 billion in 2023, reaching USD 49.26 billion in 2032 with a CAGR of 6.80%. The broader advanced semiconductor packaging market could grow to $80.5 billion by 2033. The advanced packaging market size is expected to grow from USD 51.62 billion in 2025 to USD 90.11 billion by 2031 at a 9.42% CAGR. Furthermore, the global advanced packaging market, valued at USD 40.86 billion in 2025, is anticipated to reach USD 87.01 billion by 2035, growing at a CAGR of 7.59%, with Asia Pacific leading the growth.
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Expected Drivers of Future Revenue Growth for Xperi (XPER)
- Growth and Monetization of the TiVo One Media Platform: Xperi is actively expanding its TiVo One ad platform by increasing monthly active users (MAUs) and improving Average Revenue Per User (ARPU) through advertising and data monetization. The company aims to more than double Media Platform revenue in 2026 and grow TiVo One MAUs to over 7 million.
- Expansion of Connected Car Solutions (DTS AutoStage): The Connected Car segment, driven by DTS AutoStage, is a key growth area. Xperi is increasing its presence in the automotive market through new OEM partnerships and the introduction of services like DTS AutoStage video, as exemplified by its partnership with Mercedes-Benz.
- Growth in IPTV (Video-over-Broadband) Subscriber Households: Within the Pay TV segment, despite declines in traditional Pay TV, Xperi is experiencing growth in its IPTV subscriber base through multi-year agreements with major operators.
- Strategic Partnerships and New Product Introductions: Xperi is focused on securing new strategic partnerships and launching innovative products and services across its technology platforms to drive future revenue.
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1. Share Repurchases
- A stock repurchase program for up to $150.0 million was authorized on June 12, 2020.
- On April 22, 2021, an additional $100.0 million was authorized for purchases under the existing stock repurchase plan.
- Xperi Inc. announced a new share repurchase program on April 29, 2024, for up to $100 million of its common stock, with no set expiration date.
2. Share Issuance
- Proceeds from the issuance of common stock under employee stock purchase plans were $5.974 million in 2025 and $7.855 million in 2024.
- Shares are withheld to satisfy required withholding taxes at the vesting date for restricted stock units, totaling $8.3 million during the six months ended June 30, 2021.
- Xperi Inc. completed a spin-off of its product business from its IP licensing business (Adeia) on or about October 1, 2022, distributing Xperi Inc. common stock to existing Xperi Holding Corporation stockholders.
4. Outbound Investments
- Xperi divested its Perceive business on October 2, 2024, which contributed approximately $5.3 million of revenue in fiscal year 2024.
5. Capital Expenditures
- Capital expenditures were $14 million in 2022, $13 million in 2023, and $17 million in 2024.
- Capital expenditures were approximately $20 million in 2025.
- For 2026, Xperi projects capital expenditures to be between $15 million and $20 million.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Xperi Earnings Notes | 12/16/2025 | |
| Is Xperi Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.10 |
| Mkt Cap | 0.4 |
| Rev LTM | 448 |
| Op Inc LTM | -1 |
| FCF LTM | -4 |
| FCF 3Y Avg | -1 |
| CFO LTM | 4 |
| CFO 3Y Avg | 1 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.3% |
| Rev Chg 3Y Avg | 4.8% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 44.0% |
| Op Inc Chg 3Y Avg | 33.5% |
| Op Mgn LTM | -3.3% |
| Op Mgn 3Y Avg | 5.0% |
| QoQ Delta Op Mgn LTM | 2.1% |
| CFO/Rev LTM | 0.8% |
| CFO/Rev 3Y Avg | 4.9% |
| FCF/Rev LTM | -4.0% |
| FCF/Rev 3Y Avg | -1.5% |
Price Behavior
Price Behavior
| Market Price | $7.94 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 11/20/2003 | |
| Distance from 52W High | -3.3% | |
| 50 Days | 200 Days | |
| DMA Price | $7.28 | $6.35 |
| DMA Trend | up | up |
| Distance from DMA | 9.1% | 25.0% |
| 3M | 1YR | |
| Volatility | 42.6% | 42.6% |
| Downside Capture | 87.50 | 163.17 |
| Upside Capture | 160.28 | 121.19 |
| Correlation (SPY) | 33.6% | 41.7% |
XPER Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.07 | 0.58 | 0.91 | 1.27 | 1.52 | 1.22 |
| Up Beta | -1.74 | -0.31 | -0.25 | 0.48 | 1.14 | 1.00 |
| Down Beta | 3.94 | 3.52 | 1.35 | 1.80 | 2.12 | 1.38 |
| Up Capture | 136% | 173% | 172% | 189% | 136% | 110% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 25 | 34 | 64 | 125 | 354 |
| Down Capture | -249% | -67% | 99% | 116% | 144% | 109% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 14 | 26 | 56 | 117 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XPER | |
|---|---|---|---|---|
| XPER | 4.3% | 42.4% | 0.21 | - |
| Sector ETF (XLK) | 59.9% | 23.1% | 1.96 | 36.5% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 41.9% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 10.0% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -5.5% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 20.6% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 31.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XPER | |
|---|---|---|---|---|
| XPER | -24.3% | 48.9% | -0.51 | - |
| Sector ETF (XLK) | 22.9% | 25.3% | 0.80 | 33.7% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 36.3% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 0.9% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 3.0% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 26.6% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 17.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XPER | |
|---|---|---|---|---|
| XPER | -15.0% | 49.4% | -0.17 | - |
| Sector ETF (XLK) | 25.4% | 24.7% | 0.93 | 36.9% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 39.0% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 2.4% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 12.6% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 28.7% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 13.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | 11.9% | 19.0% | 7.5% |
| 2/25/2026 | 4.0% | 14.9% | 0.5% |
| 11/5/2025 | 1.9% | -2.2% | -10.1% |
| 8/6/2025 | 5.6% | 9.5% | 7.7% |
| 5/7/2025 | 15.4% | 19.3% | 12.7% |
| 2/26/2025 | -3.2% | -3.6% | -4.1% |
| 11/6/2024 | -12.4% | -16.5% | -2.7% |
| 8/5/2024 | -3.0% | -1.8% | 17.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 9 |
| # Negative | 7 | 8 | 6 |
| Median Positive | 7.2% | 14.9% | 7.7% |
| Median Negative | -5.8% | -2.9% | -7.1% |
| Max Positive | 15.4% | 24.1% | 20.4% |
| Max Negative | -12.4% | -16.5% | -24.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | 11.9% | 19.0% | 7.5% |
| 2/25/2026 | 4.0% | 14.9% | 0.5% |
| 11/5/2025 | 1.9% | -2.2% | -10.1% |
| 8/6/2025 | 5.6% | 9.5% | 7.7% |
| 5/7/2025 | 15.4% | 19.3% | 12.7% |
| 2/26/2025 | -3.2% | -3.6% | -4.1% |
| 11/6/2024 | -12.4% | -16.5% | -2.7% |
| 8/5/2024 | -3.0% | -1.8% | 17.2% |
| 5/8/2024 | -6.6% | -7.8% | -24.2% |
| 2/28/2024 | -2.6% | -5.2% | 7.2% |
| 11/13/2023 | 8.9% | 24.1% | 20.4% |
| 8/9/2023 | -8.5% | -2.3% | -14.2% |
| 5/9/2023 | 1.0% | -1.0% | 18.6% |
| 2/21/2023 | 14.5% | 14.9% | 1.7% |
| 11/8/2022 | -5.8% | 1.0% | -3.9% |
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 9 |
| # Negative | 7 | 8 | 6 |
| Median Positive | 7.2% | 14.9% | 7.7% |
| Median Negative | -5.8% | -2.9% | -7.1% |
| Max Positive | 15.4% | 24.1% | 20.4% |
| Max Negative | -12.4% | -16.5% | -24.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/01/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 03/06/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/14/2022 | 10-12B/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/01/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 03/06/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/14/2022 | 10-12B/A |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 440.00 Mil | 455.00 Mil | 470.00 Mil | 0 | Affirmed | Guidance: 455.00 Mil for 2026 | |
| 2026 Adjusted EBITDA Margin | 17.0% | 18.0% | 19.0% | 0 | 0 | Affirmed | Guidance: 18.0% for 2026 |
| 2026 Operating Cash Flow | 15.00 Mil | 20.00 Mil | 25.00 Mil | 0 | Affirmed | Guidance: 20.00 Mil for 2026 | |
| 2026 Capital Expenditures | 15.00 Mil | 17.50 Mil | 20.00 Mil | 0 | Affirmed | Guidance: 17.50 Mil for 2026 | |
| 2026 Non-GAAP Tax Expense | 20.00 Mil | 0 | Affirmed | Guidance: 20.00 Mil for 2026 | |||
| 2026 Basic and Fully Diluted Share Count | 48.00 Mil | 48.50 Mil | 49.00 Mil | 0 | Affirmed | Guidance: 48.50 Mil for 2026 | |
| 2026 Stock-based Compensation | 31.00 Mil | 0 | Affirmed | Guidance: 31.00 Mil for 2026 | |||
Prior: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 440.00 Mil | 455.00 Mil | 470.00 Mil | 1.1% | Higher New | Actual: 450.00 Mil for 2025 | |
| 2026 Operating Margin | 17.0% | 18.0% | 19.0% | 12.5% | 2.0% | Higher New | Actual: 16.0% for 2025 |
| 2026 Free Cash Flow | 15.00 Mil | 20.00 Mil | 25.00 Mil | ||||
| 2026 Capital Expenditures | 15.00 Mil | 17.50 Mil | 20.00 Mil | ||||
| 2026 Non-GAAP Tax Expense | 20.00 Mil | ||||||
| 2026 Basic and Fully Diluted Share Count | 48.00 Mil | 48.50 Mil | 49.00 Mil | ||||
| 2026 Stock-based Compensation | 31.00 Mil | ||||||
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 6/21/2026