Xperi Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Xperi Inc. has submitted its 2023 annual report on Form 10-K, detailing its financial performance and business operations.</b>

AI Summary

Xperi Inc. (XPER) filed a Annual Report (10-K) with the SEC on March 1, 2024. Xperi Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period ending December 31, 2023, and was filed on March 1, 2024. The company's principal business address is 2190 Gold Street, San Jose, CA 95002. Xperi Inc. was formerly known as TiVo Product HoldCo LLC until September 20, 2019, and Xperi, Inc. until June 8, 2022. The filing includes references to various financial statement items such as Accrued Liabilities Current, Prepaid Expense and Other Assets Current, and Sales Revenue Net.

Why It Matters

For investors and stakeholders tracking Xperi Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Xperi's financial health, operational activities, and strategic positioning for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed financial data and risk factors disclosed in the 10-K are essential for stakeholders to understand potential risks and opportunities associated with investing in Xperi Inc.

Risk Assessment

Risk Level: — Xperi Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which inherently contains detailed financial and operational information, but lacks specific forward-looking guidance or significant event disclosures that would elevate the risk level beyond medium.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Xperi's performance and potential challenges in the past fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-03-01 — Filing Date (Date filed)

Key Players & Entities

• Xperi Inc. (company) — Filer name
• 2190 Gold Street, San Jose, CA 95002 (address) — Business address
• TiVo Product HoldCo LLC (company) — Former company name
• Xperi, Inc. (company) — Former company name

FAQ

Industry Context

Xperi Inc. operates in the technology sector, focusing on prepackaged software and related services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and operations.

What Investors Should Do

1. Review the full 10-K document for detailed financial statements and management's discussion and analysis.
2. Analyze the risk factors section to understand potential challenges and uncertainties facing Xperi Inc.
3. Compare the 2023 financial results with previous years to identify trends and performance changes.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-01: Filing Date — Date Xperi Inc. submitted its 10-K to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed by Xperi Inc. for its annual reporting.)

Year-Over-Year Comparison

This is the initial filing of the 2023 annual report; comparisons to prior periods will be found within the document itself.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share XPER New York Stock Excha
• $13.15 — million, based on the closing price of $13.15 for shares of the registrant's common s
• $190 billion — , and Video Game consoles) will surpass $190 billion in 2023 and continue to grow by 3% year

Filing Documents

• xper-20231231.htm (10-K) — 3277KB
• xper-ex2_2.htm (EX-2.2) — 21KB
• xper-ex4_1.htm (EX-4.1) — 22KB
• xper-ex21_1.htm (EX-21.1) — 19KB
• xper-ex23_1.htm (EX-23.1) — 3KB
• xper-ex31_1.htm (EX-31.1) — 13KB
• xper-ex31_2.htm (EX-31.2) — 12KB
• xper-ex32_1.htm (EX-32.1) — 12KB
• xper-ex97_1.htm (EX-97.1) — 29KB
• img124741662_0.jpg (GRAPHIC) — 5KB
• img259503334_0.jpg (GRAPHIC) — 228KB
• 0000950170-24-023915.txt (&nbsp;) — 16960KB
• xper-20231231.xsd (EX-101.SCH) — 2602KB
• xper-20231231_htm.xml (XML) — 3278KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 47 Item 1C. Cybersecurity 47 Item 2.

Properties

Properties 47 Item 3.

Legal Proceedings

Legal Proceedings 47 Item 4. Mine Safety Disclosures 48 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 49 Item 6. (Reserved) 50 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 51 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 62 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 62 Item 9A.

Controls and Procedures

Controls and Procedures 62 Item 9B. Other Information 62 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 62 PART III Item 10. Directors, Executive Officers and Corporate Governance 63 Item 11.

Executive Compensation

Executive Compensation 63 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 63 Item 13. Certain Relationships and Related Transactions, and Director Independence 63 Item 14. Principal Accountant Fees and Services 63 PART IV Item 15. Exhibits and Financial Statement Schedules 64 Item 16. Form 10-K Summary 104

Signatures

Signatures 105 2 Cautionary Statement Regardin g Forward-Looking Statements This annual report on Form 10-K (this "Annual Report") contains forward-looking statements, which are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "plans," "believes," "seeks," "estimates," "could," "would," "may," "will," "intends," "potentially," "projects," "targets" and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this Annual Report. The identification of certain statements as "forward-looking" is not intended to mean that other statements not specifically identified are not forward-looking. All statements other than statements about historical facts are statements that could be deemed forward-looking statements, including, but not limited to, statements that relate to our future revenue, product development, demand, acceptance and market share, growth rate, competitiveness, gross margins, levels of research, development and other related costs, expenditures, the outcome or effects of and expenses related to litigation and administrative proceedings, tax expenses, cash flows, our management's plans and objectives for our current and future operations, the levels of customer spending or research and development activities, the impact of any acquisitions or divestitures on our financial condition and results of operations, general economic conditions, and the sufficiency of financial resources to support future operations and capital expenditures. Although forward-looking statements in this Annual Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks, uncertainties, and changes in condition, significa

B usiness

Item 1. B usiness Corporate Information The principal executive offices of Xperi Inc. ("we", "our", the "Company" or "Xperi") are located at 2190 Gold Street, San Jose, California 95002 USA. Our telephone number is +1 (408) 519-9100. We maintain a corporate website at xperi.com. The reference to our website address does not constitute incorporation by reference of the information contained on this website. Xperi, the Xperi logo, TiVo, the TiVo logo, DTS, the DTS logo, Ergo, DTS HD, DTS Audio Processing, DTS:X Ultra, DTS Virtual:X, DTS Headphone:X, DTS Play-Fi, DTS:X, DTS AutoStage, and HD Radio are trademarks or registered trademarks of Xperi or its affiliated companies in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies. Overview We are a leading consumer and entertainment technology company. We believe we create extraordinary experiences at home and on the go for millions of consumers around the world, enabling audiences to connect with content in a way that is more intelligent, immersive, and personal. Powering smart devices, connected cars, entertainment experiences and more, we bring together ecosystems designed to reach highly engaged consumers, allowing us and our ecosystem partners to uncover significant new business opportunities, now and in the future. Our technologies are integrated into consumer devices and a variety of media platforms worldwide, driving increased value for our partners, customers and consumers. We operate in one reportable business segment and group our business into four categories: Pay-TV, Consumer Electronics, Connected Car and Media Platform. Headquartered in Silicon Valley with operations around the world, we have approximately 2,100 employees and more than 35 years of operating experience. In December 2023, we entered into a definitive agreement with Tobii AB (the "Purchaser"), an eye tracking and attention computing

View Full Filing

View this 10-K filing on SEC EDGAR