Adeia (ADEA) FY2025 results: revenue $443 million, up 17.9% on the year
Adeia Inc. (ADEA) reported revenue of $443 million for fiscal 2025, the year ended 31 December 2025, up 17.9% on the year before. Net income was $111 million, up 71.9%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
Revenue
$443 million
+17.9% on the year
FY2018FY2025
Operating margin
39.5%
34.2% a year earlier
FY2018FY2025
Net income
$111 million
+71.9% on the year
FY2018FY2025
Diluted EPS
$0.99
+73.7% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 14 new.
Record fourth-quarter revenue and operating income: Revenue was $182.6 million, up from $119.2 million a year earlier and $87.3 million in the third quarter. Operating income was $108.8 million, up from $57.5 million.
Adjusted EBITDA reached a quarterly record: Adjusted EBITDA was $133.9 million in the fourth quarter, against $80.3 million a year earlier. For 2025 it was $277.6 million, against $234.3 million in 2024.
Nine deals signed in the quarter: Eight of the nine deals were with media customers and one with a semiconductor customer. Four of the nine were with new customers.
Full-year deal count and new customers: The company signed 26 agreements in 2025 across OTT, semiconductors, consumer electronics, Pay-TV and e-commerce. Twelve of the 26 were with new customers.
Term loan paydown continued: Principal payments of $21.1 million in the quarter reduced the term loan balance to $426.7 million at December 31, 2025. Debt repayment for 2025 was $60.4 million.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
158
212
153
-25.6%
Capital expenditure
1.8
1.8
3.8
-0.8%
Free cash flow
156
211
149
-25.8%
Free cash flow margin
35.2%
56.0%
38.3%
Cash from investing
-40.3
-24.0
-34.5
Cash from financing
-124
-164
-178
Depreciation and amortisation
58.6
72.8
95.3
-19.5%
Share-based compensation
34.7
26.6
18.1
+30.2%
Buybacks
21.3
18.7
0.0
+14.1%
Dividends paid
21.8
21.8
21.3
+0.0%
Dividend per share
$0.20
$0.20
$0.20
0.0%
Diluted shares, weighted
113m
113m
113m
-0.3%
Shares outstanding at period end
109m
108m
107m
+0.9%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
481
397
357
+21.2%
Debt
418
475
586
-12.0%
Operating lease liabilities
8.7
9.5
9.7
-7.9%
Other liabilities
132
216
154
-39.2%
Total liabilities and equity
1,039
1,098
1,106
-5.3%
Fixed assets
6.1
6.3
7.0
-2.6%
Goodwill
314
314
314
0.0%
Intangible assets
303
301
347
+0.8%
Investments
63.6
31.6
29.0
+101.5%
Cash and equivalents
73.1
78.8
54.6
-7.2%
Receivables
28.6
34.1
39.7
-16.1%
Other assets
251
332
315
-24.6%
Total assets
1,039
1,098
1,106
-5.3%
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.