Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €22.60, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 15x in the Software industry in Germany. Total returns to shareholders of 183% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €20.40 per share. Recent Insider Transactions • May 18
Insider recently sold €2.7m worth of stock On the 13th of May, Kevin Tanji sold around 99k shares on-market at roughly €27.11 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Buy Or Sell Opportunity • May 11
Now 34% overvalued after recent price rise Over the last 90 days, the stock has risen 82% to €27.80. The fair value is estimated to be €20.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to decline by 7.8% in a year. Earnings are forecast to decline by 28% in the next year. Declared Dividend • May 11
First quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 26th May 2026 Payment date: 15th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 1.5%. Payout Ratios Payout ratio: 18%. Cash payout ratio: 15%. Tillkännagivande • May 07
Adeia Inc. Announces Paul E. Davis Intends to Step Down as Chief Executive Officer Adeia Inc. announced that after nearly 15 years at the company (including its predecessor companies), with the past four years serving as chief executive officer of Adeia Inc., Paul E. Davis has informed the company and the Board of Directors that he intends to step down as the company’s chief executive officer to focus on his health and personal pursuits. Davis plans to stay on as the chief executive officer until such time as a successor has been named, with a target date for the search to be completed by the fourth quarter of 2026. In accordance with the company’s established governance policies, the Board is launching a search led by a special transition committee of the Board that will be chaired by Dan Moloney, the company’s chairman of the Board. The Transition Committee will benefit from its existing chief executive officer succession planning process and will consider internal and external candidates. A nationally recognized search firm will assist the Transition Committee throughout the process. Davis has built an enduring culture at Adeia that is focused on innovation and connections, both internally and with its customers and partners. He started at Adeia’s predecessor company, Tessera Technologies, in 2011 as associate general counsel and quickly earned the trust and respect of the management team and Board and was named the general counsel within two years of joining the company. He helped guide the company as general counsel, and subsequently as chief legal officer, through several transformative transactions, including its mergers with DTS in 2016 and TiVo in 2020. In May of 2022, Davis was appointed to lead Adeia as its president and chief executive officer following its eventual separation from Xperi in October of 2022. During his tenure, the company grew its patent portfolio by over 35%, fueled by its commitment to investing in internal R&D, and increased its non-Pay-TV recurring revenue by over 60% by closing successful deals in key growth areas such as OTT and semiconductors, including landmark license agreements with Amazon, AMD, Disney, Kioxia, Microsoft and Sandisk. During this time, Adeia strengthened its balance sheet by reducing outstanding debt by nearly 50%, while driving strong financial results including delivering record revenue and earnings in 2025. The Board’s intention is for the next chief executive officer to build upon the successful transformation of the business, continuing to strengthen the company’s technology leadership in the media and semiconductor markets, diversification of its revenue streams, identifying and investing in new growth areas, and fostering a culture that empowers its people to achieve the company’s long-term growth ambitions and value creation goals. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €25.60, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 17x in the Software industry in Germany. Total returns to shareholders of 282% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.41 per share. Tillkännagivande • Apr 08
Adeia Inc. to Report Q1, 2026 Results on May 04, 2026 Adeia Inc. announced that they will report Q1, 2026 results on May 04, 2026 Tillkännagivande • Apr 01
Adeia Inc. Reiterates Earnings Guidance for the Full Year Ending December 31, 2026 Adeia Inc. reiterated earnings guidance for the full year ending December 31, 2026. For the period, the company expects GAAP revenue to be in the range of $395.0 million - $435.0 million and Net income to be in the range of $57.2 million - $80.4 Million. Tillkännagivande • Mar 26
Adeia Inc., Annual General Meeting, May 07, 2026 Adeia Inc., Annual General Meeting, May 07, 2026. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €18.60, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 17x in the Software industry in Germany. Total returns to shareholders of 149% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.87 per share. Declared Dividend • Feb 26
Fourth quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 16th March 2026 Payment date: 30th March 2026 Dividend yield will be 1.1%, which is lower than the industry average of 1.5%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 9.7% over the next 2 years. However, it would need to fall by 78% to increase the payout ratio to a potentially unsustainable range. Tillkännagivande • Feb 25
Adeia Inc. announces Quarterly dividend, payable on March 30, 2026 Adeia Inc. announced Quarterly dividend of USD 0.0500 per share payable on March 30, 2026, ex-date on March 16, 2026 and record date on March 16, 2026. Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: US$1.02 (vs US$0.59 in FY 2024) Full year 2025 results: EPS: US$1.02 (up from US$0.59 in FY 2024). Revenue: US$443.4m (up 18% from FY 2024). Net income: US$111.1m (up 72% from FY 2024). Profit margin: 25% (up from 17% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 10% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 24
Adeia Inc. Provides Earnings Guidance for the Full Year Ending December 31, 2026 Adeia Inc. provided earnings guidance for the full year ending December 31, 2026. For the period, the company expects GAAP revenue to be in the range of $395.0 million - $435.0 million and Net income to be in the range of $57.2 million - $80.4 Million. Tillkännagivande • Jan 27
Adeia Inc. Announces Executive Changes Adeia Inc. announced updates to its executive leadership team designed to strengthen execution towards the company’s long-term strategy and growth priorities. Craig Mitchell has rejoined Adeia as chief semiconductor officer, where he will lead the company’s semiconductor technology research and development organization. In this role, Mitchell is responsible for shaping Adeia’s long-term semiconductor technology vision, driving R&D execution, and deepening engagement across the global semiconductor ecosystem. Mitchell was previously chief executive officer and board director at AKHAN Semiconductor and prior to that had an impressive 30-year history across numerous leadership roles within the company’s predecessor companies, including Invensas and Tessera. Dr. Mark Kokes, appointed chief revenue officer, effective as of January 26, 2026, having previously been the company's Chief Licensing Officer & General Manager, will oversee Adeia’s global sales and go-to-market strategy, including managing the company’s intellectual property (IP) portfolio and revenue-generation activities. Kokes has successfully led the Media Sales and Strategy team since the separation and held prior senior IP officer roles at NantWorks, BlackBerry, and Intertrust Technologies Corporation. He is a 15-year industry veteran of the mobile and connected device industries with numerous patents and published academic articles across a wide range of technical research domains. Bill Thomas, named to a new position within the organization as chief strategy officer, will lead corporate strategy, including long-term planning, market analysis, and growth initiatives. Thomas has a proven track record of driving growth opportunities in the multimedia and tech sectors and is an expert in developing licensing programs, structuring complex licensing deals and forming strategic partnerships to drive market expansion. He has held senior IP licensing and business development leadership positions at VideoLabs, NAGRA, and Intellectual Ventures. Adeia also announced that effective as of March 13, 2026, Dana Escobar, chief licensing officer and general manager, semiconductor, will be transitioning out of the organization. During his tenure, Escobar played a key role in leading the semiconductor business through the company’s separation and establishing a strong foundation that included new customer engagements and meaningful technological advancements. Tillkännagivande • Jan 22
Adeia Inc. to Report Q4, 2025 Results on Feb 23, 2026 Adeia Inc. announced that they will report Q4, 2025 results on Feb 23, 2026 Tillkännagivande • Dec 24
Adeia Inc. Raises Earnings Guidance for the Year Ending December 31, 2025 Adeia Inc. raised earnings guidance for the year ending December 31, 2025. For the period, the company expects Revenue of $425.0 million to $435.0 million compared to $360.0 million to $380.0 million from a year ago. Net income of $96.4 million to $113.9 million compared to $52.4 million to $71.6 million from a year ago. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to €14.30, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Software industry in Germany. Total returns to shareholders of 72% over the past three years. Declared Dividend • Nov 10
Third quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 24th November 2025 Payment date: 15th December 2025 Dividend yield will be 1.5%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 76% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: US$0.081 (vs US$0.18 in 3Q 2024) Third quarter 2025 results: EPS: US$0.081 (down from US$0.18 in 3Q 2024). Revenue: US$87.3m (up 1.4% from 3Q 2024). Net income: US$8.83m (down 54% from 3Q 2024). Profit margin: 10% (down from 22% in 3Q 2024). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Tillkännagivande • Oct 14
Adeia Inc. to Report Q3, 2025 Results on Nov 03, 2025 Adeia Inc. announced that they will report Q3, 2025 results on Nov 03, 2025 Declared Dividend • Aug 11
Second quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 26th August 2025 Payment date: 16th September 2025 Dividend yield will be 1.6%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 2.8% over the next year. However, it would need to fall by 71% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: US$0.15 (vs US$0.077 in 2Q 2024) Second quarter 2025 results: EPS: US$0.15 (up from US$0.077 in 2Q 2024). Revenue: US$85.7m (down 1.8% from 2Q 2024). Net income: US$16.7m (up 100% from 2Q 2024). Profit margin: 20% (up from 9.6% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jul 09
Adeia Inc. to Report Q2, 2025 Results on Aug 05, 2025 Adeia Inc. announced that they will report Q2, 2025 results After-Market on Aug 05, 2025 Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sandeep Vij was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €12.40, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 26x in the Software industry in Germany. Total returns to shareholders of 206% over the past three years. Declared Dividend • May 12
First quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 27th May 2025 Payment date: 17th June 2025 Dividend yield will be 1.6%, which is higher than the industry average of 1.5%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 2.5% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 06
First quarter 2025 earnings released: EPS: US$0.11 (vs US$0.008 in 1Q 2024) First quarter 2025 results: EPS: US$0.11 (up from US$0.008 in 1Q 2024). Revenue: US$87.7m (up 5.1% from 1Q 2024). Net income: US$11.8m (up US$10.9m from 1Q 2024). Profit margin: 14% (up from 1.1% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 08
Adeia Inc. to Report Q1, 2025 Results on May 05, 2025 Adeia Inc. announced that they will report Q1, 2025 results After-Market on May 05, 2025 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €10.70, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 25x in the Software industry in Germany. Total returns to shareholders of 175% over the past three years. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to €16.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Software industry in Germany. Total returns to shareholders of 295% over the past three years. Declared Dividend • Feb 24
Fourth quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 10th March 2025 Payment date: 31st March 2025 Dividend yield will be 1.2%, which is lower than the industry average of 1.5%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 19
Full year 2024 earnings released: EPS: US$0.59 (vs US$0.63 in FY 2023) Full year 2024 results: EPS: US$0.59 (down from US$0.63 in FY 2023). Revenue: US$376.0m (down 3.3% from FY 2023). Net income: US$64.6m (down 4.1% from FY 2023). Profit margin: 17% (in line with FY 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Tillkännagivande • Jan 17
Adeia Inc. to Report Q4, 2024 Results on Feb 18, 2025 Adeia Inc. announced that they will report Q4, 2024 results After-Market on Feb 18, 2025 Declared Dividend • Nov 18
Third quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 27th November 2024 Payment date: 18th December 2024 Dividend yield will be 1.7%, which is higher than the industry average of 1.5%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 79% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: US$0.18 (vs US$0.23 in 3Q 2023) Third quarter 2024 results: EPS: US$0.18 (down from US$0.23 in 3Q 2023). Revenue: US$86.1m (down 15% from 3Q 2023). Net income: US$19.3m (down 20% from 3Q 2023). Profit margin: 22% (down from 24% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Nov 01
Now 21% undervalued Over the last 90 days, the stock has risen 20% to €11.30. The fair value is estimated to be €14.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 34% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 64% in the next year. Tillkännagivande • Oct 22
Adeia Inc. to Report Q3, 2024 Results on Nov 07, 2024 Adeia Inc. announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 New Risk • Sep 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (13% net profit margin). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Declared Dividend • Aug 12
Second quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 27th August 2024 Payment date: 17th September 2024 Dividend yield will be 1.9%, which is higher than the industry average of 1.5%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 42% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • Aug 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (13% net profit margin). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: US$0.077 (vs US$0.013 in 2Q 2023) Second quarter 2024 results: EPS: US$0.077 (up from US$0.013 in 2Q 2023). Revenue: US$87.4m (up 5.0% from 2Q 2023). Net income: US$8.38m (up 491% from 2Q 2023). Profit margin: 9.6% (up from 1.7% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €9.00, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Software industry in Germany. Total returns to shareholders of 94% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €14.17 per share. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Buy Or Sell Opportunity • Jul 24
Now 21% undervalued Over the last 90 days, the stock has risen 14% to €10.60. The fair value is estimated to be €13.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 42% over the last 3 years. Earnings per share has declined by 20%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 29% in the next year. Buy Or Sell Opportunity • Jul 24
Now 21% undervalued Over the last 90 days, the stock has risen 14% to €10.60. The fair value is estimated to be €13.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 42% over the last 3 years. Earnings per share has declined by 20%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 29% in the next year. Tillkännagivande • Jul 16
Adeia Inc. to Report Q2, 2024 Results on Aug 06, 2024 Adeia Inc. announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 Buy Or Sell Opportunity • Jul 02
Now 22% undervalued Over the last 90 days, the stock has risen 4.0% to €10.30. The fair value is estimated to be €13.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 42% over the last 3 years. Earnings per share has declined by 20%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 29% in the next year. Buy Or Sell Opportunity • Jun 22
Now 23% undervalued Over the last 90 days, the stock has risen 5.2% to €10.20. The fair value is estimated to be €13.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 42% over the last 3 years. Earnings per share has declined by 20%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 29% in the next year. Buy Or Sell Opportunity • May 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to €10.10. The fair value is estimated to be €12.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 42% over the last 3 years. Earnings per share has declined by 20%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 29% in the next year. New Risk • May 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Declared Dividend • May 09
First quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 24th May 2024 Payment date: 18th June 2024 Dividend yield will be 1.8%, which is higher than the industry average of 1.5%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 35% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: US$0.008 (vs US$0.28 in 1Q 2023) First quarter 2024 results: EPS: US$0.008 (down from US$0.28 in 1Q 2023). Revenue: US$83.4m (down 29% from 1Q 2023). Net income: US$899.0k (down 97% from 1Q 2023). Profit margin: 1.1% (down from 25% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 16
Adeia Inc. to Report Q1, 2024 Results on May 06, 2024 Adeia Inc. announced that they will report Q1, 2024 results After-Market on May 06, 2024 Tillkännagivande • Mar 28
Adeia Inc., Annual General Meeting, May 09, 2024 Adeia Inc., Annual General Meeting, May 09, 2024, at 10:00 Pacific Standard Time. Agenda: To elect seven members of the Board of Directors to hold office until the next annual meeting or until their successors are duly elected and qualified; to hold an advisory vote to approve the compensation of our named executive officers as described in this proxy statement; to approve an Amended and Restated 2020 Equity Incentive Plan; to ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the Company for the year ending December 31, 2024; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof. Upcoming Dividend • Mar 04
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 11 March 2024. Payment date: 26 March 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.1%). Declared Dividend • Feb 26
Fourth quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 11th March 2024 Payment date: 26th March 2024 Dividend yield will be 1.9%, which is higher than the industry average of 1.5%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 25% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: US$0.63 (vs US$1.35 in FY 2022) Full year 2023 results: EPS: US$0.63 (down from US$1.35 in FY 2022). Revenue: US$388.8m (down 11% from FY 2022). Net income: US$67.4m (down 52% from FY 2022). Profit margin: 17% (down from 32% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jan 30
Adeia Inc. to Report Q4, 2023 Results on Feb 20, 2024 Adeia Inc. announced that they will report Q4, 2023 results After-Market on Feb 20, 2024 Tillkännagivande • Jan 05
Adeia Inc. Appoints Joseph Guiliano as Chief Intellectual Property Officer Adeia Inc. announced that Joseph Guiliano was appointed as Adeia’s chief intellectual property (IP) officer, after serving as outside legal counsel for Adeia’s IP portfolio since 1995. Prior to his appointment as Adeia’s chief IP officer, Guiliano served as the lead outside IP counsel for the media business of Adeia and its predecessor companies since 1995. Most recently, Guiliano was a cofounder and managing partner of Haley Guiliano LLP, an international IP law firm with clients that include both start-up companies as well as established innovators across domestic and international markets. Prior to founding Haley Guiliano, he was the chair of the IP Rights Management practice at Ropes & Gray LLP. Over the course of his three-decade career, Guiliano has handled a wide range of IP legal matters, including patent prosecution, IP transactions, and patent infringement and trade secret misappropriation litigation. He has helped clients navigate intricate issues in a variety of technical disciplines, such as medical devices, cellular telephony, semiconductor processing, and linear and streaming media services. Board Change • Dec 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Phyllis Turner-Brim was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 24
Chief Licensing Officer & GM of Media recently sold €186k worth of stock On the 20th of November, Mark Kokes sold around 20k shares on-market at roughly €9.06 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Nov 17
Upcoming dividend of US$0.05 per share at 2.1% yield Eligible shareholders must have bought the stock before 24 November 2023. Payment date: 18 December 2023. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (1.7%). New Risk • Nov 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings are forecast to decline by an average of 42% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (32% net profit margin). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Reported Earnings • Nov 07
Third quarter 2023 earnings released: EPS: US$0.23 (vs US$3.72 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.23 (up from US$3.72 loss in 3Q 2022). Revenue: US$101.4m (down 52% from 3Q 2022). Net income: US$24.2m (up US$413.2m from 3Q 2022). Profit margin: 24% (up from net loss in 3Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Tillkännagivande • Nov 07
Adeia Inc. Appoints Phyllis Turner-Brim to Board of Directors Adeia Inc. announced that veteran,intellectual property (IP) attorney and advisor, Phyllis Turner-Brim, joined Adeia's board of directors on Friday, November 3, 2023. Turner-Brim brings to Adeia a three-decade IP legal career with 15 years of executive experience advising C-suite executives and senior leaders -- including those in Fortune 500 companies -- on issues ranging from strategy and marketing to technology management and IP enforcement. She is widely recognized for elegantly bridging the disciplines of technology, business and law to realize value derived from investments in IP. Turner-Brim is also an astute student of -- and contributor to -- the discourse driving today's innovation society. Recently, Turner-Brim took on the role of senior vice president and deputy general counsel, Products, Services and Brand Security at HP Inc. (HP) where she leads legal for HP's Personal Systems, Print, Workforce Solutions, 3D Print and Incubation business units. Immediately prior, she was HP's senior vice president and deputy general counsel for Innovation and Brand Protection, where she had global responsibility for HP's IP function, including strategy, patent development, IP sales and licensing, enforcement, anti-counterfeiting and fraud prevention. An active and frequent advisor to HP's C-suite, Turner-Brim is also a member of multiple working groups within the organization, including the Legal, Global Marketing, and Strategy and Incubation Leadership teams. She also served as the vice president and assistant general counsel at Starbucks and was the legal executive at the intersection of IP and technology. Prior to Starbucks, Turner-Brim was the vice president, chief IP counsel at Intellectual Ventures where sheled the teams responsible for outbound licensing, patent acquisitions and IP policy initiatives. She has held similar roles with Intermec Technologies Corp. (now Honeywell), Walmart Stores Inc. and Cabot Microelectronics Corp. Turner-Brim holds a Bachelor of Science degree in chemical engineering from the Illinois Institute of Technology and a Juris Doctor degree from the University of Cincinnati. Tillkännagivande • Oct 17
Adeia Inc. to Report Q3, 2023 Results on Nov 06, 2023 Adeia Inc. announced that they will report Q3, 2023 results After-Market on Nov 06, 2023 Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €8.25, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 25x in the Software industry in Germany. Total returns to shareholders of 195% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.84 per share. New Risk • Oct 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 21% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (25% net profit margin). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). 
