Slides
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XPERI Q2 2026 Earnings August 5 , 2026
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2 © 2026 Xperi Inc. All rights reserved. Safe Harbor This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding: expectations regarding our future results of operations and financial position, growth, profitability, cash flow generation, and margin expansion; our financial outlook for 2026, including, without limitation, revenue, Adjusted EBITDA margin, operating cash flow, capital expenditures, stock-based compensation expense, non- GAAP tax expense, and diluted share count; the adoption, deployment and commercialization by third parties of products and services that utilize our technologies; memory-related investments and costs, objectives for future operations and ongoing strategies and operating initiatives; the growth, monetization and financial performance of the Media Platform business, including, without limitation, advertising and related revenue, partnerships, audience engagement, users, footprint, Monthly Active Users, ARPU growth, and advertising-related margin expansion; IPTV subscriber household and revenue growth, expansion and monetization of the DTS AutoStage footprint, including, without limitation, through data, analytics, advertising, and other monetization opportunities; future customer contracts, renewals, partnerships, product launches, and market opportunities; and other business, strategic, operational and financial objectives and expectations. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company’s current expectations, assumptions, estimates and projections that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” "goal," and similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward- looking statements. These risks, uncertainties and other factors are described under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025, as updated in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 to be filed with the Securities and Exchange Commission (the “SEC”), and our other filings with the SEC from time to time. Any forward-looking statements speak only as of the date of this presentation and are based on information available to the Company as of the date of this presentation, and the Company does not assume any obligation to, and does not intend to, publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
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3 © 2026 Xperi Inc. All rights reserved. MARKETS Media Platform Connected Car Pay TV Consumer Electronics WHERE SOLUTIONS TiVo ® DTS ® HD Radio IMAX ® Enhanced1 WHO MISSION Xperi invents, develops, and delivers technologies that enable extraordinary experiences WHAT VISION Smarter technology = Extraordinary experiences WHY 1 IMAX® Enhanced is acertification and licensing program operated by IMAX Corporation and DTS, Inc.
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4 © 2026 Xperi Inc. All rights reserved. Q2 Financial Metrics Summary ▪ Revenue of $114M, increased 8% Y/Y ▪ GAAP operating expenses, excluding cost of revenue, decreased 10% Y/Y ▪ Non-GAAP adjusted operating expense 1,2 decreased 6% Y/Y primarily due to workforce reductions ▪ GAAP net loss of ($1.5M) and non-GAAP Adjusted EBITDA1 of $24.5M (at 21% of revenue) ▪ GAAP net loss per share of ($0.03) and non-GAAP1 earnings per share of $0.28 ▪ Operating cash flow of $15M 1 For further information on supplemental Non-GAAP metrics, refer to the “Non-GAAP Financial Measures” and GAAP to Non-GAAP Reconciliation tables below. 2 Adjusted Operating Expense = Total operating expense less cost of licensing and other revenue (excluding depreciation and amortization of intangible assets) and cost of advertising and related revenue (excluding depreciation and amortization of intangible assets).
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5 © 2026 Xperi Inc. All rights reserved. HIGHLIGHTS: 6.3 million TiVo One Monthly Active Users* at end of Q2, a 70% increase year-over-year Media Platform revenue grew 44% year-over-year Average Revenue Per User (ARPU*) for trailing 12 months ending June 30, 2026 was $6.70 Executed homepage video campaigns in U.S. and Europe for global advertising brands Advanced integration of TiVo One ad platform with key partners including Teads and Kargo Media Platform * See definitions at bottom of slide #9
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6 © 2026 Xperi Inc. All rights reserved. Connected Car HIGHLIGHTS: AutoStage footprint grew 42% year- over-year, reaching 17 million total vehicles across 13 brands BYD committed to AutoStage audio and video platform for its export models Signed Cumulus as the first customer for AutoStage broadcaster portal* Signed multi-year HD Radio program with a large Asian Tier 1 supplier New models with HD Radio launched in U.S., Canada and Mexico by BMW, Toyota, Mercedes -Benz, and VW * Revenue is advertising -related and will be recognized within Media Platform Chart of intra-day listener activity from AutoStage Broadcaster Portal
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7 © 2026 Xperi Inc. All rights reserved. HIGHLIGHTS: 3.4 million IPTV subscriber households at quarter end, a 13% increase year- over-year Expanded advertising reach through a Programmatic Dynamic Ad Insertion (PDAI) partnership with NCTC Entered into agreements with NCTC member operators Summit Broadband, EPB, and Buckeye to adopt TiVo as their PDAI platform Pay TV
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8 © 2026 Xperi Inc. All rights reserved. Consumer Electronics HIGHLIGHTS: Closed a multi-year renewal for DTS audio solutions, including new commitments for DTS Clear Dialogue across multiple TV and PC brands Renewed DTS agreements with leading TV, audio, and video receiver brands, including Sony, Yamaha, Pioneer, and Insignia Renewed DTS agreements for PC and mobile devices with MSI and Tecno Reallytek
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9 © 2026 Xperi Inc. All rights reserved. 9 * ▪ More than 7 million TiVo One Monthly Active Users1 ▪ Media Platform revenue growth of ~100% with TiVo One ARPU2 exit rate above $10 ▪ Begin generating advertising and related revenue on the AutoStage footprint 2026 Growth Goals – On Track 1 “TiVo One Monthly Active User” is defined as a unique device that has connected to the TiVo video service, which includes the TiVo One advertising platform, at least once within the last 30 days. 2 "Average Revenue Per User (ARPU) for TiVo One" is calculated by dividing advertising and related revenue (excluding automotive-related revenue) for the trailing four quarters by the average number of TiVo One Monthly Active Users during that same period.
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10 © 2026 Xperi Inc. All rights reserved. Q2 2026 Revenue Breakdown 1 Includes Classic Guides, Discovery, Linux, CubiTV, as well as Consumer Hardware and Subscriptions. Market ($ in thousands) Q2 2025 Q2 2026 Y/Y Change Y/Y % Change Pay TV 49,937 44,665 (5,272) -11% - Core Pay TV1 26,424 18,876 (7,548) -29% - IPTV 23,513 25,789 2,276 10% Consumer Electronics 18,763 12,237 (6,526) -35% Connected Car 25,105 40,070 14,965 60% Media Platform 12,128 17,520 5,392 44% TOTAL 105,933 114,492 8,559 8%
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11 © 2026 Xperi Inc. All rights reserved. ($ in thousands, except per share amounts) Q2 2025 GAAP Q2 2026 GAAP Y/Y Change Q2 2025 Non-GAAP3 Q2 2026 Non-GAAP3 Y/Y Change Revenue 105,933 114,492 8,559 105,933 114,492 8,559 Cost of revenue1 33,549 36,070 2,521 32,705 35,567 2,862 Adjusted operating expense2 83,517 75,509 (8,008) 64,452 60,586 (3,866) Operating income/(loss) (11,133) 2,913 14,046 8,776 18,339 9,563 Adjusted EBITDA n/a n/a n/a 15,208 24,462 9,254 Adjusted EBITDA Margin n/a n/a n/a 14.4% 21.4% +7 points Other income, net 988 413 (575) 988 413 (575) Tax expense 4,636 4,826 190 4,916 5,165 249 Net income/(loss) (14,781) (1,500) 13,281 4,848 13,587 8,739 Earnings (loss) per share (0.32) (0.03) 0.29 0.11 0.28 0.17 Number of shares outstanding 45,846 48,421 2,575 45,979 49,173 3,194 1 Excluding depreciation and amortization of intangible assets; Cost of Revenue includes cost for both licensing and advertising and related. 2 Adjusted Operating Expense = Total operating expense less cost of licensing and other revenue (excluding depreciation and amortization of intangible assets) and cost of advertising and related revenue (excluding depreciation and amortization of intangible assets). 3 See tables for reconciliation of GAAP to non-GAAP. Q2 2026 Financial Results Summary
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12 © 2026 Xperi Inc. All rights reserved. Balance Sheet and Cash Flow Finished second quarter of 2026 with $91 million of cash and cash equivalents, an increase of $20 million from last quarter Operating Cash Flow of $15 million in second quarter of 2026, an improvement of $5 million from second quarter of 2025 Free Cash Flow1 of $8 million in second quarter of 2026, an improvement of $3 million from last year Received final payment of $12 million for sale of Perceive to Amazon 1 For further information on supplemental Non-GAAP metrics, refer to the “Non-GAAP Financial Measures” and GAAP to Non- GAAP Reconciliation tables below.
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13 © 2026 Xperi Inc. All rights reserved. Financial Outlook for FY 2026 1 See discussion of "Non-GAAP Financial Measures" below. 2 With respect to Adjusted EBITDA Margin and non-GAAP Tax Expense, the Company has determined that it is unable to provide a quantitative reconciliation of this forward-looking non-GAAP measure to the most directly comparable forward-looking GAAP measure with a reasonable degree of confidence in its accuracy without unreasonable effort, as items including restructuring and impacts from discrete tax adjustments and tax law changes are inherently uncertain and depend on various factors, many of which are beyond the Company's control. 3 Capital Expenditures is defined as the sum of two items from the Consolidated Statements of Cash Flows: “Capitalized Internal-Use Software” and “Purchases of Property and Equipment”. Category 2026 Outlook Revenue $440M to $470M Adjusted EBITDA Margin1, 2 17% to 19% Additional Information 2026 Outlook Operating Cash Flow $15M to $25M Capital Expenditures3 ~$25M Non-GAAP Tax Expense2 ~$20M Basic and Fully Diluted Share Count 48M to 49M Stock-based Compensation ~$29M Increased from prior range of $15-20M due to memory-related investment in software platform modifications and price increases in planned equipment Decreased from prior estimate of ~$31M
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14 © 2023 Xperi. All rights rese rved. 14 We create extraordinary experiences at home, in the car, and on the go for millions of consumers around the world. Connected Car Media Platform Pay TVConsumer Electronics
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Reconciliation Tables
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16 © 2026 Xperi Inc. All rights reserved. Non-GAAP Financial Measures In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company’s press release and presentation contain non-GAAP financial measures, including Non-GAAP Operating Income/(Loss), Non-GAAP Net Income/(Loss), Non-GAAP Net Income/(Loss) Per Share, Non-GAAP Adjusted EBITDA, Non- GAAP Adjusted EBITDA Margin, Non-GAAP Adjusted Operating Expense, Free Cash Flow, and Non-GAAP Tax Expense. Non-GAAP Operating Income/(Loss) is defined as GAAP Operating Income/(Loss), less the impact of stock-based compensation; amortization of intangible assets; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance. Non-GAAP Net Income/(Loss) is defined as GAAP Net Income/(Loss) excluding the impact of stock-based compensation; amortization of intangible assets; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance; and related tax effects for each adjustment. Non-GAAP Net Income/(Loss) Per Share is defined as Non-GAAP Income/(Loss) divided by Non-GAAP weighted average shares outstanding - diluted. Non-GAAP Adjusted EBITDA is defined as GAAP Net Income/(Loss), less the impact of interest expense; provision for income taxes; stock-based compensation; depreciation expense; amortization of intangible assets; amortization of capitalized cloud computing costs; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance. Non-GAAP Adjusted EBITDA Margin is defined as Non-GAAP Adjusted EBITDA divided by total revenue. Non-GAAP Adjusted Operating Expense is defined as GAAP operating expense, less cost of revenue, excluding depreciation and amortization of intangible assets; less the impact of stock- based compensation; amortization of intangible assets; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance. Free Cash Flow is defined as net cash from operatingactivities,less cash investmentsfor capitalizedinternal-use software and purchasesof property and equipment. Non-GAAP Tax Expense is defined as the GAAP provision for income taxes, adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments. Management believes that the non-GAAP measures used in this presentation provide investors with important perspectives into the Company’s ongoing business and financial performance and provide a better understanding of our core operating results reflecting our normal business operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, the terms used in this presentation, such as adjusted EBITDA, do not have a standardized meaning. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures in the tables attached hereto. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. All financial data is presented on a GAAP basis except where the Company indicates its presentation is on a non-GAAP basis.
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17 © 2026 Xperi Inc. All rights reserved. GAAP to Non-GAAP Net (Loss) Income Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended June 30, 2026 2025 Reconciliation of GAAP net loss: GAAP net loss $ (1,500 ) $ (14,781 ) Adjustments to GAAP net loss: Stock-based compensation(1) 6,830 10,327 Amortization of intangible assets 8,092 9,144 Impairment of long-lived assets 197 — Transaction, integration and restructuring related costs: Transaction, integration and restructuring costs (2) 103 73 Severance and retention(3) 204 365 Income tax adjustment(4) (339 ) (280 ) Non-GAAP net income $ 13,587 $ 4,848 (1) Stock-based compensation included in above line items: Cost of licensing and other revenue, excluding depreciation and amortization of intangible assets $ 332 $ 676 Cost of advertising and related revenue, excluding depreciation and amortization of intangible assets $ 129 $ 168 Research and development $ 1,565 $ 3,191 Selling, general and administrative $ 4,804 $ 6,292 (2) Transaction, integration and restructuring costs included in above line items: Selling, general and administrative $ 103 $ 73 Interest and other income, net $ — $ — (3) Severance and retention included in above line items: Cost of licensing and other revenue, excluding depreciation and amortization of intangible assets $ 14 $ — Cost of advertising and related revenue, excluding depreciation and amortization of intangible assets $ 28 $ — Research and development $ (5 ) $ 21 Selling, general and administrative $ 167 $ 344 (4) The provision for income taxes is adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments.
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18 © 2026 Xperi Inc. All rights reserved. GAAP to Non-GAAP Net (Loss) Income per Share Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended June 30, 2026 2025 Reconciliation of GAAP net loss per share: GAAP net loss per share $ (0.03 ) $ (0.32 ) Adjustments to GAAP net loss per share attributable to the Company: Stock-based compensation 0.14 0.23 Amortization of intangible assets 0.17 0.20 Impairment of long-lived assets — — Transaction, integration and restructuring related costs 0.01 0.01 Income tax adjustment (0.01 ) (0.01 ) Non-GAAP net income per share $ 0.28 $ 0.11 GAAP weighted-average number of shares - basic and diluted 48,421 45,846 Non-GAAP weighted-average number of shares - diluted 49,173 45,979
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19 © 2026 Xperi Inc. All rights reserved. Operating (Loss) Income Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended June 30, 2026 2025 GAAP operating income (loss) $ 2,913 $ (11,133 ) Adjustments to GAAP operating income (loss): Stock-based compensation 6,830 10,327 Amortization of intangible assets 8,092 9,144 Impairment of long-lived assets 197 — Transaction, integration and restructuring related costs: Transaction, integration and restructuring costs 103 73 Severance and retention 204 365 Non-GAAP operating income $ 18,339 $ 8,776
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20 © 2026 Xperi Inc. All rights reserved. Adjusted EBITDA and Free Cash Flow Reconciliations Three Months Ended June 30, 2026 2025 GAAP net loss $ (1,500 ) $ (14,781 ) Adjustments to GAAP net loss: Interest expense 847 915 Provision for income taxes 4,826 4,636 Stock-based compensation 6,830 10,327 Depreciation expense 3,951 3,448 Amortization of intangible assets 8,092 9,144 Amortization of capitalized cloud computing costs 912 1,081 Impairment of long-lived assets 197 — Transaction, integration and restructuring related costs: Transaction, integration and restructuring costs 103 73 Severance and retention 204 365 Non-GAAP Adjusted EBITDA $ 24,462 $ 15,208 Non-GAAP Adjusted EBITDA Margin(1) 21.4 % 14.4 % Computation of free cash flow: Net cash provided by operating activities $ 14,560 $ 10,107 Adjustments: Capitalized internal-use software (6,427 ) (4,225 ) Purchases of property and equipment (497 ) (561 ) Non-GAAP free cash flow $ 7,636 $ 5,321 (1) Non-GAAP Adjusted EBITDA Margin is calculated by dividing Non-GAAP Adjusted EBITDA, derived as above, by the Company's total revenue, expressed as a percentage. XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited)
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21 © 2026 Xperi Inc. All rights reserved. Adjusted Operating Expense Reconciliation XPERI INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands) (unaudited) Three Months Ended June 30, 2026 2025 Total GAAP operating expenses $ 111,579 $ 117,066 Less: Cost of licensing and other revenue, excluding depreciation and amortization of intangible assets (19,829 ) (22,128 ) Less: Cost of advertising and related revenue, excluding depreciation and amortization of intangible assets (16,241 ) (11,421 ) GAAP adjusted operating expense 75,509 83,517 Adjustments to GAAP adjusted operating expense: Stock-based compensation: Research and development (1,565 ) (3,191 ) Selling, general and administrative (4,804 ) (6,292 ) Amortization of intangible assets (8,092 ) (9,144 ) Impairment of long-lived assets (197 ) — Transaction, integration and restructuring related costs: Transaction and integration related costs recorded in selling, general and administrative (103 ) (73 ) Severance and retention recorded in research and development 5 (21 ) Severance and retention recorded in selling, general and administrative (167 ) (344 ) Non-GAAP adjusted operating expense $ 60,586 $ 64,452