10-Q · May 6, 2026
Adeia Inc. reported strong Q1 2026 earnings, with revenue of $104.77 million, surpassing both the prior period and estimates, while EPS reached $0.38, also above expectations. Despite a significant increase in…
Earnings analysis · 10-Q
ADEA earnings analysis
Filed November 4, 2026 · Our reading of the company's report
The latest report
Adeia’s third-quarter revenue of $80.193 million and GAAP diluted EPS of $0.02 declined sequentially and year over year, while missing consensus revenue of $99.6498 million and EPS of $0.29. Management lowered 2026…
Read full summary
Adeia’s third-quarter revenue of $80.193 million and GAAP diluted EPS of $0.02 declined sequentially and year over year, while missing consensus revenue of $99.6498 million and EPS of $0.29. Management lowered 2026 revenue guidance to $375.0 million-$415.0 million from $395.0 million-$435.0 million because of licensing-deal timing, although it reiterated the long-term $600 million target. Eight licensing agreements, including four new customers, provide a positive commercial signal, but near-term visibility and litigation exposure remain significant.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.02
What stood out
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Revenue declined and missed consensus
Third-quarter revenue was $80.193 million, down from $96 million in 2026 Q2 and $87 million in 2025 Q3. Revenue missed the $99.6498 million consensus estimate by approximately 19.5%.
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EPS fell sharply below estimates
GAAP diluted EPS was $0.02, versus $0.15 in 2026 Q2 and $0.08 in 2025 Q3. EPS missed the $0.29 consensus estimate by approximately 27.6%.
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Licensing activity remained active
Adeia reported 8 license agreements during the quarter, including 4 new customers and renewals with Charter and TCL, indicating continued commercial activity despite delayed deal timing.
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Long-term revenue target reiterated
Management reiterated its long-term $600 million annual revenue outlook and said it remains confident in achieving the high end of the revised 2026 revenue range of $375.0 million-$415.0 million.
What to watch
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Licensing deal timing pressured outlook
The 2026 revenue outlook was reduced from $395.0 million-$435.0 million to $375.0 million-$415.0 million because select licensing deals may be delayed, reducing near-term revenue visibility.
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Material litigation exposure
The filing identifies multiple active patent and contract disputes, including the DIRECTV SDNY action in which DIRECTV filed a summary-judgment motion on October 14, 2026. The filing states an adverse decision could significantly harm business, financial position, results of operations, and cash flows.
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DISH proceedings remain unresolved
Adeia’s DISH litigation involves claims concerning 5 patents in Colorado and a separate declaratory-judgment action involving 10 patents in Northern California; neither case had a trial date as of the filing.
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No formal risk-factor update
The risk-factor section states there were no material changes from the 2025 Form 10-K, but the quarter still included new or advancing proceedings, including the Fubo action involving 4 patents and the DIRECTV Central District of California action involving 4 patents.
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Near-term operating momentum weakened
Revenue of $80.193 million was approximately 16.5% below the preceding quarter’s $96 million and approximately 7.8% below the prior-year quarter’s $87 million, indicating worsening quarterly top-line momentum.
Management's outlook
2026 revenue outlook was lowered to $375.0 million-$415.0 million from $395.0 million-$435.0 million because of potential timing delays for select licensing deals. Management reiterated its long-term $600 million annual revenue outlook and stated it remains confident in achieving the high end of the revised 2026 range.
Earlier filings 4
10-K · February 26, 2026
Adeia positions itself as an IP licensing platform focused on media and semiconductors, growing through internal R&D, targeted acquisitions and licensing (media and semiconductor portfolios). The company reported a…
10-Q · May 6, 2025
Adeia reported revenue of $87,670 (in thousands) for the three months ended March 31, 2025, up from $83,405 in the prior-year quarter, with operating income increasing to $22,835 from $19,364 and diluted EPS rising to…
10-K · February 19, 2025
Adeia positions itself as an IP‑licensing platform with a large, defensive patent portfolio (approximately 12,250 patent assets) and a strategy to grow via internal R&D, targeted acquisitions and license arrangements…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.