Xperi Holding 10-Q 7 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 25, 2023
Cover [Abstract]
Entity Registrant Name	ADEIA INC.
Trading Symbol	ADEA
Entity Central Index Key	0001803696
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		106,753,387
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-39304
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4734590
Entity Address, Address Line One	3025 Orchard Parkway
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	473-2500
Document Quarterly Report	true
Document Transition Report	false
Security12b Title	Common Stock (par value $0.001 per share)
Security Exchange Name	NASDAQ

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 83,217	$ 107,815	$ 200,524	$ 246,347
Operating expenses:
Research and development	13,116	11,010	26,127	20,660
Selling, general and administrative	26,394	34,836	49,256	68,660
Amortization expense	23,650	24,406	47,339	48,932
Litigation expense	2,334	2,842	4,956	3,920
Total operating expenses	65,494	73,094	127,678	142,172
Operating income from continuing operations	17,723	34,721	72,846	104,175
Interest expense	(15,540)	(9,440)	(31,478)	(17,869)
Other income and expense, net	1,617	431	3,237	768
Income from continuing operations before income taxes	3,800	25,712	44,605	87,074
Provision for income taxes	2,381	10,552	14,165	16,069
Net income from continuing operations	1,419	15,160	30,440	71,005
Net loss from discontinued operations, net of tax		(21,633)		(53,502)
Net income (loss)	1,419	(6,473)	30,440	17,503
Less: Net loss attributable to noncontrolling interest in discontinued operations		(848)		(1,816)
Net income (loss) attributable to the Company	$ 1,419	$ (5,625)	$ 30,440	$ 19,319
Basic
Continuing operations	$ 0.01	$ 0.15	$ 0.29	$ 0.69
Discontinued operations		(0.2)		(0.5)
Net income	0.01	(0.05)	0.29	0.19
Diluted
Continuing operations	0.01	0.14	0.27	0.67
Discontinued operations		(0.2)		(0.49)
Net income	$ 0.01	$ (0.06)	$ 0.27	$ 0.18
Weighted average number of shares used in per share calculations-basic	106,464	104,001	106,027	103,841
Weighted average number of shares used in per share calculations-diluted	112,775	105,160	113,105	105,362

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,419	$ (6,473)	$ 30,440	$ 17,503
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustment		(2,025)	9	(2,918)
Net unrealized losses on available-for-sale debt securities	(34)	143	(39)	22
Other comprehensive income (loss), net of tax	(34)	(1,882)	(30)	(2,896)
Comprehensive income	1,385	(8,355)	30,410	14,607
Less: Comprehensive loss attributable to noncontrolling interest		(848)		(1,816)
Comprehensive income (loss) attributable to the Company	$ 1,385	$ (7,507)	$ 30,410	$ 16,423

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 60,470	$ 114,555
Available-for-sale debt securities	23,841
Accounts receivable, net of allowance for credit losses of $1,463 and $713, respectively	30,174	58,480
Unbilled contracts receivable, net	74,941	73,754
Other current assets	10,948	11,924
Total current assets	200,374	258,713
Long-term unbilled contracts receivable	64,986	40,705
Property and equipment, net	5,013	4,550
Operating lease right-of-use assets	5,048	5,993
Intangible assets, net	385,232	432,476
Goodwill	313,660	313,660
Long-term income tax receivable	109,733	113,679
Other long-term assets	38,561	40,750
Total assets	1,122,607	1,210,526
Current liabilities:
Accounts payable	15,534	8,546
Accrued liabilities	14,089	31,277
Current portion of long-term debt	36,400	109,813
Deferred revenue	20,088	17,076
Total current liabilities	86,111	166,712
Deferred revenue, less current portion	9,113	10,683
Long-term debt, net	591,482	619,580
Noncurrent operating lease liabilities	3,655	4,794
Long-term income tax payable	88,768	87,302
Other long-term liabilities	20,457	20,043
Total liabilities	799,586	909,114
Commitments and contingencies (Note 15)
Stockholders' equity:
Preferred stock: $0.001 par value; (2023: authorized 15,000 shares; 2022: authorized 15,000 shares and no shares issued and outstanding)
Common stock: $0.001 par value; (2023: authorized 350,000 shares, issued 119,595 shares, outstanding 106,606 shares; 2022: authorized 350,000 shares, issued 117,392 shares, outstanding 105,167 shares)	119	117
Additional paid-in capital	634,954	636,266
Treasury stock at cost (2023: 12,989 shares; 2022: 12,225 shares)	(218,714)	(211,223)
Accumulated other comprehensive loss	(81)	(51)
Accumulated deficit	(93,257)	(123,697)
Total stockholders' equity	323,021	301,412
Total liabilities and equity	$ 1,122,607	$ 1,210,526

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable allowance for credit losses	$ 1,463	$ 713
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	119,595,000	117,392,000
Common stock, shares outstanding (in shares)	106,606,000	105,167,000
Treasury stock, shares (in shares)	12,989,000	12,225,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 30,440	$ 17,503
Adjustments to reconcile net income to net cash from operating activities:
Depreciation of property and equipment	769	11,371
Amortization of intangible assets	47,339	78,485
Stock-based compensation expense	8,196	32,284
Deferred income taxes	1,501	(1,641)
Amortization of debt issuance costs	2,239	2,231
Other	493	917
Changes in operating assets and liabilities:
Accounts receivable	27,708	14,820
Unbilled contracts receivable	(25,467)	(82,767)
Other assets	6,868	(1,291)
Accounts payable	6,987	6,868
Accrued and other liabilities	(16,447)	4,340
Deferred revenue	1,442	3,913
Net cash from operating activities	92,068	87,033
Cash flows from investing activities:
Purchases of property and equipment	(1,545)	(8,870)
Proceeds from sale of property and equipment	0	86
Purchases of intangible assets	(95)	(233)
Purchases of short-term investments	(23,766)	(4,490)
Proceeds from sales of investments	0	28,254
Proceeds from maturities of investments	0	26,053
Net cash from investing activities	(25,406)	40,800
Cash flows from financing activities:
Dividends paid	(10,636)	(10,418)
Repayment of debt	(103,750)	(20,250)
Proceeds from employee stock purchase program and exercise of stock options	1,130	8,059
Repurchases of common stock	0	(17,260)
Repurchases of common stock for tax withholdings on equity awards	(7,491)	(11,475)
Net cash from financing activities	(120,747)	(51,344)
Effect of exchange rate changes on cash and cash equivalents	0	(2,291)
Net increase (decrease) in cash and cash equivalents	(54,085)	74,198
Cash and cash equivalents at beginning of period	114,555	201,121
Cash and cash equivalents at end of period	60,470	275,319
Supplemental disclosure of cash flow information:
Interest paid	29,009	15,590
Income taxes paid, net of refunds	2,840	13,400
Unpaid purchases of property and equipment at the end of the period	$ 963	$ 822

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) $ in Millions	Jun. 30, 2022 USD ($)
Statement of Cash Flows [Abstract]
Cash and cash equivalents, current assets of discontinued operations	$ 144.8

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Noncontrolling Interest
Beginning balance at Dec. 31, 2021	$ 1,340,428	$ 113	$ 1,340,480	$ (178,022)	$ (752)	$ 187,814	$ (9,205)
Beginning balance (in shares) at Dec. 31, 2021		103,260,000		10,200,000
Issuance of subsidiary shares to noncontrolling interest			(6)				6
Net income (loss)	17,503					19,319	(1,816)
Other comprehensive loss	(2,896)				(2,896)
Cash dividends paid on common stock	(10,418)					(10,418)
Issuance of common stock in connection with exercise of stock options	63		63
Issuance of common stock in connection with exercise of stock options (in shares)		5,000
Issuance of common stock in connection with employee stock purchase plan	7,994	$ 1	7,993
Issuance of common stock in connection with employee stock purchase plan (in shares)		739,000
Issuance of restricted stock, net of shares canceled	2	$ 2
Issuance of restricted stock, net of shares canceled (in shares)		1,738,000
Repurchases of common stock, shares exchanged	(11,475)			$ (11,475)
Repurchases of common stock, shares exchanged (in shares)		(683,000)		505,000
Withholding taxes related to net share settlement of restricted awards	$ (11,500)
Withholding taxes related to net share settlement of restricted awards (in shares)	700,000
Repurchases of common stock	$ (17,260)			$ (17,260)
Repurchases of common stock, (in shares)		(1,029,000)		1,029,000
Stock-based compensation expense	32,284		32,284
Ending balance at Jun. 30, 2022	1,356,225	$ 116	1,380,814	$ (206,757)	(3,648)	196,715	(11,015)
Ending balance (in shares) at Jun. 30, 2022		104,030,000		11,734,000
Beginning balance at Mar. 31, 2022	1,354,647	$ 116	1,365,277	$ (206,350)	(1,766)	207,539	(10,169)
Beginning balance (in shares) at Mar. 31, 2022		103,921,000		11,726,000
Issuance of subsidiary shares to noncontrolling interest			(2)				2
Net income (loss)	(6,473)					(5,625)	(848)
Other comprehensive loss	(1,882)				(1,882)
Cash dividends paid on common stock	(5,199)					(5,199)
Issuance of common stock in connection with exercise of stock options	58		58
Issuance of common stock in connection with exercise of stock options (in shares)		4,000
Issuance of restricted stock, net of shares canceled (in shares)		129,000
Repurchases of common stock, shares exchanged	(407)			$ (407)
Repurchases of common stock, shares exchanged (in shares)		(24,000)		8,000
Withholding taxes related to net share settlement of restricted awards	$ (400)
Withholding taxes related to net share settlement of restricted awards (in shares)	100,000
Stock-based compensation expense	$ 15,481		15,481
Ending balance at Jun. 30, 2022	1,356,225	$ 116	1,380,814	$ (206,757)	(3,648)	196,715	$ (11,015)
Ending balance (in shares) at Jun. 30, 2022		104,030,000		11,734,000
Beginning balance at Dec. 31, 2022	301,412	$ 117	636,266	$ (211,223)	(51)	(123,697)
Beginning balance (in shares) at Dec. 31, 2022		105,167,000		12,225,000
Net income (loss)	30,440					30,440
Other comprehensive loss	(30)				(30)
Cash dividends paid on common stock	(10,636)		(10,636)
Issuance of common stock in connection with exercise of stock options	409		409
Issuance of common stock in connection with exercise of stock options (in shares)		38,000
Issuance of common stock in connection with employee stock purchase plan	719		719
Issuance of common stock in connection with employee stock purchase plan (in shares)		87,000
Issuance of restricted stock, net of shares canceled	2	$ 2
Issuance of restricted stock, net of shares canceled (in shares)		2,078,000
Withholding taxes related to net share settlement of restricted awards	$ (7,491)			$ (7,491)
Withholding taxes related to net share settlement of restricted awards (in shares)	800,000	(764,000)		764,000
Stock-based compensation expense	$ 8,196		8,196
Ending balance at Jun. 30, 2023	323,021	$ 119	634,954	$ (218,714)	(81)	(93,257)
Ending balance (in shares) at Jun. 30, 2023		106,606,000		12,989,000
Beginning balance at Mar. 31, 2023	322,614	$ 119	635,001	$ (217,783)	(47)	(94,676)
Beginning balance (in shares) at Mar. 31, 2023		106,285,000		12,889,000
Net income (loss)	1,419					1,419
Other comprehensive loss	(34)				(34)
Cash dividends paid on common stock	(5,322)		(5,322)
Issuance of common stock in connection with employee stock purchase plan	719		719
Issuance of common stock in connection with employee stock purchase plan (in shares)		87,000
Issuance of restricted stock, net of shares canceled (in shares)		334,000
Withholding taxes related to net share settlement of restricted awards	$ (931)			$ (931)
Withholding taxes related to net share settlement of restricted awards (in shares)	100,000	(100,000)		100,000
Stock-based compensation expense	$ 4,556		4,556
Ending balance at Jun. 30, 2023	$ 323,021	$ 119	$ 634,954	$ (218,714)	$ (81)	$ (93,257)
Ending balance (in shares) at Jun. 30, 2023		106,606,000		12,989,000

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends paid on common stock, price per share	$ 0.05	$ 0.05	$ 0.1	$ 0.10

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,419	$ (5,625)	$ 30,440	$ 19,319

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	NOTE 1 – THE COMPANY AND BASIS OF PRESENTATION Adeia Inc. (the “Company”), a Delaware corporation, is one of the industry’s largest intellectual property (“IP”) licensing platforms, with a diverse portfolio of media and semiconductor IP and more than 10,000 patents and patent applications worldwide. On October 1, 2022, the Company completed the previously announced separation (“the Separation”) of its product business into a separate, independent, publicly-traded company, Xperi Inc. (“Xperi Inc.”). The Separation was structured as a spin-off, which was achieved through the Company’s distribution of 100 percent of the outstanding shares of Xperi Inc.’s common stock to holders of the Company’s common stock as of the close of business on the record date of September 21, 2022 (the “Record Date”). Each Company stockholder of record received four shares of Xperi Inc. common stock for every ten shares of Company common stock that it held on the Record Date. Following the Separation, the Company retains no ownership in Xperi Inc., which is now listed under the ticker symbol “XPER” on the New York Stock Exchange. Effective at the open of business on October 3, 2022, the Company’s shares of common stock, par value $ 0.001 per share, began trading on the Nasdaq Global Select Market under the new ticker symbol “ADEA”. The accounting requirements for reporting the separation of Xperi Inc. as a discontinued operation were met when the Separation was completed. Accordingly, the historical financial results of Xperi Inc. for periods prior to the Separation are presented as net loss from discontinued operations, net of tax on the Condensed Consolidated Statements of Operations. For further information on discontinued operations, see “Note 7 – Discontinued Operations” . Unless noted otherwise, discussion in the Notes to the Condensed Consolidated Financial Statements pertains to continuing operations. Additionally, as a result of the Separation, the Company changed its operational structure in the fourth quarter of 2022, resulting in one reportable segment: IP Licensing. The accompanying interim unaudited Condensed Consolidated Financial Statements have been prepared by the Company in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. The amounts as of December 31, 2022 have been derived from the Company’s annual audited Consolidated Financial Statements included in its Annual Report on Form 10-K for the year ended December 31, 2022, filed on March 1, 2023 (the “Form 10-K”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements reflect all adjustments necessary (consisting of normal recurring adjustments) to state fairly the financial position of the Company and its results of operations and cash flows as of and for the periods presented. These Condensed Consolidated Financial Statements should be read in conjunction with the annual audited Consolidated Financial Statements and notes thereto included in the Form 10-K as of and for the year ended December 31, 2022. The results of operations for the three months and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023 or any future period and the Company makes no representations related thereto. Reclassification Certain reclassifications have been made to prior period balances in order to conform to the current period’s presentation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no significant changes in the Company’s significant accounting policies during the three and six months ended June 30, 2023, as compared to the significant accounting policies described in the Form 10-K. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates and assumptions that require management’s most significant, challenging and subjective judgment include identifying the performance obligations in the contract, estimating variable consideration, estimating quarterly royalties prior to receiving the royalty reports from the licensees, determining standalone selling prices, allocating consideration in a contract with multiple performance obligations, the assessment of the recoverability of goodwill, the assessment of useful lives and recoverability of other intangible assets and long-lived assets, recognition and measurement of current and deferred income tax assets and liabilities, the assessment of unrecognized tax benefits and purchase accounting resulting from business combinations, among others. Actual results experienced by the Company may differ from management’s estimates. These estimates may change, as new events occur and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known. Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), which provides further clarification on the scope of Topic 848 so that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions in Topic 848. ASU 2020-04 became effective upon issuance and may be applied prospectively to contract modifications made on or before December 31, 2022. ASU 2021-01 became effective upon issuance and may be applied on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020 or prospectively for contract modifications made on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”), which deferred the application dates of Topic 848 to December 31, 2024. In the second quarter of 2023 , the Company adopted Topic 848 and modified its debt agreement to reference to other rates. The adoption did not have a material impact to the Company’s Condensed Consolidated Financial Statements.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	NOTE 3 – REVENUE Revenue Recognition General Revenue is recognized when control of the intellectual property (“IP”) rights is transferred to a customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for the licensing of the Company’s IP, which may include various combinations of IP rights and services which are generally capable of being distinct and accounted for as separate performance obligations. In situations where foreign withholding taxes are withheld by the Company’s licensee, revenue is recognized gross of withholding taxes that are remitted directly by the licensee to a local tax authority. Some of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the individual performance obligations are separately accounted for if they are distinct. In a contract with multiple performance obligations, the transaction price is allocated among the separate performance obligations on a relative standalone selling price basis. The determination of standalone selling price considers market conditions, the size and scope of the contract, customer and geographic information, and other factors. When observable prices are not available, standalone selling price for separate performance obligations is based on the adjusted market assessment approach to estimate the price that a customer in the relevant market would be willing to pay for licensing the Company’s IP rights. The allocation of transaction price among performance obligations in a contract may impact the amount and timing of revenue recognized in the Condensed Consolidated Statements of Operations during a given period. When a contract with a customer includes variable consideration, an estimate of the consideration which the Company expects to be entitled to for transferring the promised IP rights or services is made at contract inception and in each subsequent reporting period until the uncertainty associated with the variable consideration is resolved. The amount of variable consideration is estimated by considering all available information (historical, current, and forecast) and is updated as additional information becomes available. The estimate of variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Subsequent changes in the transaction price resulting from changes in the estimate of variable consideration are allocated to the performance obligations in the contract on the same basis as at contract inception. When variable consideration is in the form of a sales-based or usage-based royalty in exchange for a license of IP, revenue is recognized at the later of when the subsequent sale or usage occurs or the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied or partially satisfied. Description of Revenue-Generating Activities IP License Arrangements The Company licenses (i) its media patent portfolios (“Media IP licensing”) to multichannel video programming distributors, over-the-top video service providers, consumer electronics manufacturers, social media and other new media companies and (ii) its semiconductor technologies and associated patent portfolios (“Semiconductor IP licensing”) to memory, logic, sensors, radio frequency component and foundry companies. The Company generally licenses its IP portfolios under three models: (i) fixed-fee Media IP licensing, (ii) fixed-fee or minimum guarantee Semiconductor IP licensing, and (iii) per-unit or per-subscriber Media IP or Semiconductor IP royalty licensing. Fixed-fee Media IP Licensing The Company’s long-term, fixed-fee Media IP licensing contracts provide its customers with rights to future patented technologies over the term of the contract that are highly interdependent or highly interrelated to the patented technologies provided at the inception of the contract. The Company treats these rights as a single performance obligation with revenue recognized on a straight-line basis over the term of the fixed-fee license contract. Fixed-fee or Minimum Guarantee Semiconductor IP Licensing The Company has entered into Semiconductor IP licenses that have a fixed fee or a minimum guarantee, whereby licensees pay a fixed fee for the right to incorporate the Company’s IP technologies in the licensee’s products over the license term. In contracts with a minimum guarantee, the fixed fee component corresponds to a minimum number of units or dollars that the customer must produce or pay, with additional per-unit fees for any units or dollars exceeding the minimum. The Company generally recognizes the full fixed fee as revenue at the beginning of the license term when the customer has the right to use the IP and begins to benefit from the license, net of the effect of any significant financing component calculated using customer-specific, risk-adjusted lending rates, with the related interest income being recognized over time on an effective rate basis. For minimum guarantee contracts where the customer exceeds the minimum, the Company recognizes revenue relating to any additional per-unit fees in the periods it believes the customer has exceeded the minimum and adjusts the revenue based on actual usage once that is reported by the customer. Per-unit or Per-subscriber Media IP or Semiconductor IP Royalty Licensing The Company recognizes revenue from per-unit or per-subscriber IP royalty licenses in the period in which the licensee’s sales or production are estimated to have occurred, which results in an adjustment to revenue when actual sales or production are subsequently reported by the licensee, which is generally in the month or quarter following usage or shipment. Estimating customers’ monthly or quarterly royalties prior to receiving the royalty reports requires the Company to make significant assumptions and judgments related to forecasted trends and growth rates used to estimate quantities shipped or manufactured by customers, which could have a material impact on the amount of revenue it reports on a quarterly basis. IP License Contracts with Multiple Performance Obligations At times, the Company enters into long-term license contracts with more than one performance obligation, which may include releases from past patent infringement claims or one or more prospective licenses. In these arrangements, the Company allocates the transaction price between releases for past patent infringement claims and prospective licenses based on their relative standalone selling prices, which requires significant management judgment. In determining the standalone selling price of each performance obligation, the Company considers such factors as the number of past and projected future subscribers, units shipped and units manufactured, as well as the per-subscriber or per-unit licensing rates the Company generally receives from licensees of comparable sizes in comparable markets and geographies. As a release from past patent infringement claims is generally satisfied at execution of the contract, the transaction price allocated to the release from past patent infringement claims is generally recognized in the period the contract is executed. Transaction price allocated to prospective Media IP licenses is recognized ratably over the license term, and transaction price allocated to prospective Semiconductor IP licenses is recognized upon execution of the contract. Practical Expedients and Exemptions The Company applies a practical expedient to not perform an evaluation of whether a contract includes a significant financing component when the timing of revenue recognition differs from the timing of cash collection by one year or less. The Company applies a practical expedient to expense costs to obtain a contract with a customer as incurred as a component of selling, general and administrative expenses when the amortization period would have been one year or less. The Company applies a practical expedient when disclosing revenue expected to be recognized from unsatisfied performance obligations to exclude contracts with customers with an original duration of less than one year ; amounts attributable to variable consideration arising from (i) a sales-based or usage-based royalty of an IP license or (ii) when variable consideration is allocated entirely to a wholly unsatisfied performance obligation; or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation. Revenue Details Contract Balances Contracts Assets Contract assets primarily consist of unbilled contracts receivable that are expected to be received from customers in future periods, where the revenue recognized to date exceeds the amount billed. The amount of unbilled contracts receivable may not exceed their net realizable value and are classified as long-term assets if the payments are expected to be received more than one year from the reporting date. Contract assets also include the incremental costs of obtaining a contract with a customer, principally sales commissions when the renewal commission is not commensurate with the initial commission. Contract assets were recorded in the Condensed Consolidated Balance Sheets as follows (in thousands): June 30, 2023 December 31, 2022 Unbilled contracts receivable $ 74,941 $ 73,754 Sales commissions recorded in other current assets 576 512 Long-term unbilled contracts receivable (1) 64,986 40,705 Sales commissions recorded in other long-term assets 1,131 1,144 Total contract assets $ 141,634 $ 116,115 (1) The long-term unbilled contracts receivable increase relates primarily to the recognition of revenue from two long-term semiconductor patent portfolio license agreements entered into during the six months ended June 30, 2023. Contract Liabilities Contract liabilities are comprised of deferred revenue related to multi-period licensing arrangements for which the Company is paid in advance, while the underlying performance obligation is satisfied at a future date or over time. Allowance for Credit Losses The allowance for credit losses represents the Company’s best estimate of lifetime expected credit losses inherent in accounts receivable and unbilled contracts receivable. The Company’s long-term unbilled contracts receivable is derived from fixed-fee or minimum-guarantee Semiconductor IP licensing and is primarily comprised of contracts with large, well-capitalized companies. It is generally considered to be of high credit quality due to past collection history and the nature of the customers. The Company allowance for credit losses at June 30, 2023 and December 31, 2022 was $ 1.5 million and $ 0.7 million, respectively and it is presented as part of accounts receivable, net in the Condensed Consolidated Balance Sheets. Additional Disclosures The following table presents additional revenue and contract disclosures (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenue recognized in the period from: Amounts included in deferred revenue at the beginning of the period $ 4,107 $ 1,356 $ 8,889 $ 2,709 Performance obligations satisfied in previous periods (1) $ 1,131 $ 5,520 $ 1,884 $ 5,637 (1) Performance obligations satisfied in previous periods consist of settlements of litigation for past royalties owed pursuant to expired or terminated IP license agreements and revenue from releases for past patent infringement claims. Remaining revenue under contracts with performance obligations represents the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) under certain of the Company’s fixed fee arrangements (in thousands). As of Revenue from contracts with performance obligations expected to be satisfied in: 2023 (remaining 6 months) $ 79,492 2024 148,449 2025 143,824 2026 47,060 2027 36,556 Thereafter 76,527 Total $ 531,908

Composition of Certain Financia

Composition of Certain Financial Statement Captions	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Composition of Certain Financial Statement Captions	NOTE 4 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS Other current assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Prepaid income taxes $ 7,456 $ 7,252 Prepaid expenses 1,477 1,924 Prepaid insurance 690 2,103 Other 1,325 645 $ 10,948 $ 11,924 Property and equipment, net, consisted of the following (in thousands): June 30, 2023 December 31, 2022 Equipment, furniture and other $ 15,231 $ 14,148 Leasehold improvements 5,206 5,057 20,437 19,205 Less: accumulated depreciation and amortization ( 15,424 ) ( 14,655 ) $ 5,013 $ 4,550 Other long-term assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Long-term deferred tax assets $ 33,776 $ 35,278 Other assets 4,785 5,472 $ 38,561 $ 40,750 Accrued liabilities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Employee compensation and benefits $ 4,286 $ 6,978 Accrued expenses 2,733 12,745 Current portion of operating lease liabilities 2,230 2,108 Accrued legal fees 1,829 4,942 Current portion of guarantee (1) 600 2,431 Other 2,411 2,073 $ 14,089 $ 31,277 (1) Refer to “Note 15 – Commitments and Contingencies” for further detail on the nature of the guarantee. Other long-term liabilities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Long-term portion of guarantee (1) $ 18,505 $ 18,064 Other 1,952 1,979 $ 20,457 $ 20,043 (1) Refer to “Note 15 – Commitments and Contingencies” for further detail on the nature of the guarantee.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Financial Instruments	NOTE 5 – FINANCIAL INSTRUMENTS The Company has investments in debt securities which include corporate bonds and notes, treasury and agency notes and bills, commercial paper, certificates of deposit, and in equity securities consisting of money market funds. The Company classifies its debt securities as available-for-sale (“AFS”), which are accounted for at fair value with credit related losses recognized as a provision for credit losses in its Condensed Consolidated Statements of Operations and all non-credit related unrealized gains and losses recognized in accumulated other comprehensive income or loss in its Condensed Consolidated Balance Sheets. Under ASU 2016-01 (Topic 321), equity securities are measured at fair value with unrealized gains and losses recognized in other income and expense, net, in the Condensed Consolidated Statements of Operations. The following is a summary of marketable securities at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Cost Gross Gross Allowance for Credit Losses Estimated Marketable securities Municipal Bonds and Notes $ 1,836 $ — $ ( 7 ) $ — $ 1,829 Treasury and Agency Notes and Bills 11,312 1 ( 13 ) — 11,300 Commercial paper 16,421 — ( 23 ) — 16,398 Total debt securities 29,569 1 ( 43 ) — 29,527 Money market funds 4,333 — — — 4,333 Total equity securities 4,333 — — — 4,333 Total marketable securities $ 33,902 $ 1 $ ( 43 ) $ — $ 33,860 Reported in: Cash and cash equivalents $ 10,019 Available-for-sale debt securities $ 23,841 Total marketable securities $ 33,860 December 31, 2022 Cost Gross Gross Allowance for Credit losses Estimated Marketable securities Commercial paper $ 29,018 $ 3 $ ( 6 ) $ — $ 29,015 Total debt securities 29,018 3 ( 6 ) — 29,015 Money market funds 4,107 — — — 4,107 Total equity securities 4,107 — — — 4,107 Total marketable securities $ 33,125 $ 3 $ ( 6 ) $ — $ 33,122 Reported in: Cash and cash equivalents $ 33,122 At June 30, 2023 and December 31, 2022, the Company had $ 60.5 million and $ 114.6 million, respectively, in cash and cash equivalents. A portion of these amounts was held in marketable securities, as shown above. The remaining balances of $ 50.5 million and $ 81.5 million at June 30, 2023 and December 31, 2022, respectively, consisted of cash held in operating accounts not included in the tables above. Debt Securities The gross realized gains and losses on sales of marketable debt securities were immaterial during the three and six months ended June 30, 2023 and 2022, respectively. Unrealized losses on AFS debt securities were immaterial as of June 30, 2023 and December 31, 2022. The Company evaluated whether the decline in fair value has resulted from credit losses or other factors and concluded these amounts were related to temporary fluctuations in value of AFS securities and were due primarily to changes in interest rates and market conditions of the underlying securities. The Company does not intend to sell the debt securities and it is more-likely-than-not that it will not be required to sell the investments before recovery of their amortized cost basis. The Company did not recognize a provision for credit losses related to its AFS debt securities for the three and six months ended June 30, 2023 and 2022, respectively. No impairment charges were recorded on the AFS debt securities for the three and six months ended June 30, 2023. The following table summarizes the fair value and gross unrealized losses related to individual AFS debt securities at June 30, 2023 and December 31, 2022, which have been in a continuous unrealized loss position, aggregated by investment category and length of time (in thousands): Less Than 12 Months 12 Months or More Total Fair Value June 30, 2023 Fair Value Gross Fair Value Gross Fair Value Gross Cash and Cash Equivalents AFS Debt Securities Municipal Bonds and Notes $ 1,829 $ ( 7 ) $ — $ — $ 1,829 $ ( 7 ) $ — $ 1,829 Treasury and Agency Notes and Bills 11,300 ( 13 ) — — 11,300 ( 13 ) 1,398 $ 9,902 Commercial paper 16,398 ( 23 ) — — 16,398 ( 23 ) 4,288 $ 12,110 Total $ 29,527 $ ( 43 ) $ — $ — $ 29,527 $ ( 43 ) $ 5,686 $ 23,841 Less Than 12 Months 12 Months or More Total Fair Value December 31, 2022 Fair Value Gross Fair Value Gross Fair Value Gross Cash and Cash Equivalents AFS Debt Securities Commercial paper $ 29,015 $ ( 6 ) $ — $ — $ 29,015 $ ( 6 ) $ 29,015 $ — The estimated fair value of marketable debt securities by contractual maturity at June 30, 2023 is shown below (in thousands). Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without penalties. Estimated Due in one year or less $ 29,527

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	NOTE 6 – FAIR VALUE The Company follows the authoritative guidance for fair value measurement and the fair value option for financial assets and financial liabilities. The Company carries its financial instruments at fair value with the exception of its long-term debt. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, or an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets. Level 2 Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. When applying fair value principles in the valuation of assets, the Company is required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company calculates the fair value of its Level 1 and Level 2 instruments based on the exchange traded price of similar or identical instruments, where available, or based on other observable inputs. There were no significant transfers into or out of Level 1 or Level 2 that occurred between December 31, 2022 and June 30, 2023. The following sets forth the fair value, and classification within the hierarchy, of the Company’s assets required to be measured at fair value on a recurring basis as of June 30, 2023 (in thousands): Fair Value Quoted Significant Significant Assets Marketable securities Money market funds - equity securities (1) $ 4,333 $ 4,333 $ — $ — Municipal bonds and notes - debt securities (2) 1,829 — 1,829 — Treasury and agency notes and bills - debt securities (3) 11,300 — 11,300 — Commercial paper - debt securities (3) 16,398 — 16,398 — Total Assets $ 33,860 $ 4,333 $ 29,527 $ — (1) Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet. (2) Reported as AFS debt securities in the Condensed Consolidated Balance Sheet (3) Reported as cash and cash equivalents as these were purchased with original maturities of three months or less at the date of purchase; otherwise reported as AFS debt securities in the Condensed Consolidated Balance Sheet. The following sets forth the fair value, and classification within the hierarchy, of the Company’s assets required to be measured at fair value on a recurring basis as of December 31, 2022 (in thousands): Fair Value Quoted Significant Significant Assets Marketable securities Money market funds - equity securities (1) $ 4,107 $ 4,107 $ — $ — Commercial paper - debt securities (2) 29,015 — 29,015 — Total Assets $ 33,122 $ 4,107 $ 29,015 $ — (1) Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet. (2) Reported as cash and cash equivalents as these were purchased with original maturities of three months or less at the date of purchase. Financial Instruments Not Recorded at Fair Value The Company’s long-term debt is carried at amortized cost and is measured at fair value on a quarterly basis for disclosure purposes. The carrying amounts and estimated fair values are as follows (in thousands): June 30, 2023 December 31, 2022 Carrying Estimated Carrying Estimated Refinanced Term B Loans (1) 627,882 623,958 729,393 700,217 Total long-term debt, net $ 627,882 $ 623,958 $ 729,393 $ 700,217 (1) Carrying amounts of long-term debt are net of unamortized debt discount and issuance costs of $ 17.6 million and $ 19.9 million as of June 30, 2023 and December 31, 2022, respectively. See “Note 9 – Debt ” for additional information. If reported at fair value in the Condensed Consolidated Balance Sheets, the Company’s debt would be classified within Level 2 of the fair value hierarchy. The fair value of the debt was estimated based on the quoted market prices for the same or similar issues.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	NOTE 7 – DISCONTINUED OPERATIONS On October 1, 2022, the Company completed the Separation of its product business into a separate, independent, publicly-traded company, Xperi Inc. The accounting requirements for reporting the Separation of Xperi Inc. as a discontinued operation were met when the Separation was completed. Accordingly, the historical financial results of Xperi Inc. prior to the Separation are presented as discontinued operations and, as such, are excluded from continuing operations and results of operations from all periods presented. For further information on the Separation, see “Note 1 – The Company and Basis of Presentation ”. The Company’s presentation of discontinued operations excludes general corporate overhead costs, which were historically allocated to Xperi Inc., that do not meet the requirements to be presented in discontinued operations, although such costs are not reflective of the on-going operations of the Company. Such allocations included labor and non-labor costs related to the Company’s corporate support functions (e.g., administration, human resources, finance, accounting, tax, information technology, corporate development, legal, among others) that historically provided support to Xperi Inc. prior to the Separation. In addition, discontinued operations excludes the historical intercompany balances and transactions between the Company and Xperi Inc. that were eliminated in consolidation. In connection with the Separation, the Company incurred separation costs of $ 43.7 million from January 1, 2020 to June 30, 2023. Separation costs primarily consist of third-party advisory, consulting, legal and professional services, IT and employee bonus costs directly related to the Separation, as well as other items that are incremental and one-time in nature. Out of these costs, $ 28.6 million were incurred prior to the Separation and are included in net loss from discontinued operations, net of tax. The remaining separation costs of $ 15.1 million were incurred after the Separation and are reflected in continuing operations within operating expenses in the Company’s Condensed Consolidated Statement of Operations. During the three and six months ended June 30, 2022, the Company incurred $ 3.0 and $ 5.8 million in separation costs, respectively, which are included in net loss from discontinued operations, net of tax. During the three and six months ended June 30, 2023, separation costs were not material. The Company and Xperi Inc. entered into various agreements to effect the Separation and provide a framework for their on-going relationship, including a separation and distribution agreement, transition services agreement, employee matters agreement, tax matters agreement, cross business license agreement and data sharing agreement. The transition services agreement consists of services that Xperi Inc. and its subsidiaries will provide to the Company and its subsidiaries for a transitional period, as defined in the agreement. The services to be provided include back office functions and assistance with regard to administrative tasks relating to day-to-day activities as needed, including finance, accounting and tax activities, IT services, customer support, facilities services, human resources, and general corporate support, as well as pass-through services provided by certain vendors. The impact of these transition services on the Company’s Condensed Consolidated Financial Statements for the three and six months ended June 30, 2023 was not material. Net Loss from Discontinued Operations, Net of Tax The financial results of Xperi Inc. for the three and six months ended June 30, 2022 are presented as net loss from discontinued operations, net of tax, in the Condensed Consolidated Statements of Operations. The following table presents financial results of Xperi Inc. (in thousands): Three Months Ended Six Months Ended Revenue $ 126,203 $ 245,091 Operating expenses: Cost of revenue 26,879 54,286 Research and development 51,368 101,607 Selling, general and administrative 37,633 74,329 Depreciation expense 5,115 10,678 Amortization expense 14,760 29,553 Litigation expense 319 994 Total operating expenses 136,074 271,447 Operating loss ( 9,871 ) ( 26,356 ) Other income and expense, net ( 176 ) 456 Loss before taxes ( 10,047 ) ( 25,900 ) Provision for income taxes 11,586 27,602 Net loss from discontinued operations, net of tax $ ( 21,633 ) $ ( 53,502 ) Less: net loss attributable to noncontrolling interest ( 848 ) ( 1,816 ) Net loss attributable to discontinued operations $ ( 20,785 ) $ ( 51,686 ) Net Cash Flows of Discontinued Operations The following table presents selected financial information related to cash flows from discontinued operations (in thousands): Six Months Ended Net cash from operating activities $ ( 2,919 ) Net cash from investing activities $ ( 8,415 )

Goodwill and Identified Intangi

Goodwill and Identified Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Identified Intangible Assets	NOTE 8 – GOODWILL AND IDENTIFIED INTANGIBLE ASSETS Goodwill The carrying value of goodwill at June 30, 2023 and December 31, 2022 wa s $ 313.7 million. There were no changes t o the carrying value of goodwill from January 1, through June 30, 2023. Goodwill at its reporting unit is evaluated for potential impairment annually, as of the beginning of the fourth quarter, and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The process of evaluating goodwill for potential impairment is subjective and requires significant estimates, assumptions and judgments particularly related to the identification of reporting units, the assignment of assets and liabilities to reporting units and estimating the fair value of each reporting unit. No impairment charges were recognized for the three and six months ended June 30, 2023. Identified Intangible Assets Identified intangible assets consisted of the following (in thousands): Average June 30, 2023 December 31, 2022 Life Gross Accumulated Net Gross Accumulated Net Finite-lived intangible assets Acquired patents / core technology 3 - 10 $ 646,023 $ ( 296,695 ) $ 349,328 $ 645,928 $ ( 270,275 ) $ 375,653 Existing technology / content database 5 - 10 38,681 ( 38,164 ) 517 38,681 ( 36,614 ) 2,067 Customer contracts and related relationships 3 - 9 155,900 ( 120,540 ) 35,360 155,900 ( 101,252 ) 54,648 Trademarks/trade name 4 - 10 1,300 ( 1,273 ) 27 1,300 ( 1,192 ) 108 Total intangible assets $ 841,904 $ ( 456,672 ) $ 385,232 $ 841,809 $ ( 409,333 ) $ 432,476 As of June 30, 2023, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands): Amounts 2023 (remaining 6 months) $ 46,210 2024 68,821 2025 52,743 2026 52,609 2027 52,258 Thereafter 112,591 $ 385,232

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	NOTE 9 – DEBT The outstanding amounts of debt were as follows (in thousands): June 30, 2023 December 31, 2022 Refinanced Term B Loans $ 645,500 $ 749,250 Unamortized debt discount and issuance costs ( 17,618 ) ( 19,857 ) 627,882 729,393 Less: current portion, net of debt discount and issuance costs ( 36,400 ) ( 109,813 ) Total long-term debt, net of current portion $ 591,482 $ 619,580 Refinanced Term B Loans On June 8, 2021, the Company amended that certain Credit Agreement dated June 1, 2020 by and among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent (the “2020 Credit Agreement”). The 2020 Credit Agreement initially provided for a five-year senior secured term B loan facility in an aggregate principal amount of $ 1,050 million (the “2020 Term B Loan Facility”). In connection with the amendment (the “Amendment”), the Company made a voluntary prepayment of $ 50.6 million of the term loan outstanding under the 2020 Credit Agreement using cash on hand. The Amendment provided for, among other things, (i) a new tranche of term loans (the “Refinanced Term B Loans”) in an aggregate principal amount of $ 810.0 million, (ii) a reduction of the interest rate margin applicable to such loans to (x) in the case of base rate loans, 2.50 % per annum and (y) in the case of Eurodollar loans, LIBOR plus a margin of 3.50 % per annum, (iii) a prepayment premium of 1.00 % in connection with any repricing transaction with respect to the Refinanced Term B Loans within six months of the closing date of the Amendment, (iv) an extension of the maturity to June 8, 2028 , and (v) certain additional amendments, including amendments to provide the Company with additional flexibility under the covenant governing restricted payments. The Company commenced repaying quarterly installments under the Refinanced Term B Loans in the third quarter of 2021. On May 30, 2023, the Company amended the 2020 Credit Agreement to replace the reference to LIBOR as the base rate with the reference to the Secured Overnight Financing Rate “SOFR” as administered by the Federal Reserve Bank of New York. The new reference rate is effective July 1, 2023. The obligations under the 2020 Credit Agreement, inclusive of any changes by the Amendment, continue to be guaranteed by the Company’s wholly-owned material domestic subsidiaries (collectively, the “Guarantors”) and continue to be secured by a lien on substantially all of the assets of the Company and the Guarantors. The 2020 Credit Agreement, as amended, contains customary events of default, upon the occurrence of which, after any applicable cure period, the lenders will have the ability to accelerate all outstanding loans thereunder. The 2020 Credit Agreement, as amended, also contains customary representations and warranties and affirmative and negative covenants that, among other things and subject to certain exceptions, restrict the ability of the Company and its subsidiaries to create or incur certain liens, incur or guarantee additional indebtedness, merge or consolidate with other companies, transfer or sell assets and make restricted payments. The Separation did not require the Company to obtain any waivers under the 2020 Credit Agreement, and the Company completed the Separation in compliance with all of the covenants contained in the 2020 Credit Agreement. The 2020 Credit Agreement, as amended, requires the Company to maintain a total net leverage ratio of no greater than 3.00x in order access an annual basket from which to make restricted payments (such as dividend payments and share repurchases). The Company was in compliance with all requirements as of June 30, 2023. The 2020 Credit Agreement, as amended, also requires the Company to make additional cash payments on an annual basis beginning in April 2023 based on certain leverage ratios and excess cash flow generated for the immediately preceding fiscal year. The additional cash payments are applied to the remaining principal balance due at final maturity. Accordingly, the Company made additional cash payments of $ 73.5 million during the six months ended June 30, 2023 under the excess cash flow provisions. The payments were made earlier than required under the 2020 Credit Agreement. After the Separation, the Company remains the obligor under the Refinanced B Term Loans. Interest Expense and Expected Principal Payments At June 30, 2023, $ 645.5 million in total debt was outstanding. There were also $ 17.6 million of unamortized debt discount and issuance costs recorded as a reduction from the carrying amount of the debt. The interest rate on the Refinanced Term B Loans as of June 30, 2023, including the amortization of debt discount and issuance costs, was 9.58 % an d interest is payable monthly. Interest expense was $ 15.4 million and $ 31.3 million for the three and six months ended June 30, 2023, respectively. Interest expense was $ 9.4 million and $ 17.9 million for the three and six months ended June 30, 2022, respe ctively. Amortized debt discount and issuance costs, which were included in interest expense, amounted to $ 1.1 million and $ 2.2 m illion for the three and six months ended June 30, 2023, respectively, and $ 1.1 million and $ 2.2 million for the three and six months ended June 30, 2022, respectively. As of June 30, 2023, future minimum principal payments for long-term debt, excluding any additional principal payment required by the excess cash flow provision, are summarized as follows (in thousands): Amounts 2023 (remaining 6 months) $ 20,250 2024 40,500 2025 40,500 2026 40,500 2027 40,500 Thereafter 463,250 Total $ 645,500

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Income Per Share	NOTE 10 – NET INCOME PER SHARE The following table sets forth the computation of basic and diluted shares (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 1,419 $ 15,160 $ 30,440 $ 71,005 Net loss attributable to discontinued operations — ( 20,785 ) — ( 51,686 ) Net income attributable to the Company $ 1,419 $ ( 5,625 ) $ 30,440 $ 19,319 Denominator: Weighted average shares of common stock outstanding 106,464 104,001 106,027 103,841 Add: Effect of dilutive securities associated with options — 1 — 1 Add: Effect of dilutive securities associated with restricted stock awards and units 6,311 1,158 7,078 1,520 Weighted average common shares - dilutive 112,775 105,160 113,105 105,362 Basic net income (loss) per share Net income from continuing operations $ 0.01 $ 0.15 $ 0.29 $ 0.69 Net loss attributable to discontinued operations — ( 0.20 ) — ( 0.50 ) Net income attributable to the Company $ 0.01 $ ( 0.05 ) $ 0.29 $ 0.19 Diluted net income (loss) per share Net income from continuing operations $ 0.01 $ 0.14 $ 0.27 $ 0.67 Net loss attributable to discontinued operations — ( 0.20 ) — ( 0.49 ) Net income attributable to the Company $ 0.01 $ ( 0.06 ) $ 0.27 $ 0.18 Anti-dilutive employee stock-based awards, excluded 1,816 7,900 613 3,800 Basic net income (loss) per share is computed using the weighted average number of shares of common stock outstanding during the period, excluding any unvested restricted stock units that are subject to repurchase. Diluted net income (loss) per share is computed using the treasury stock method to calculate the weighted average number of shares of common stock and, if dilutive, potential common shares outstanding during the period. Potentially dilutive common shares include unvested restricted stock units and incremental common shares issuable upon the exercise of stock options, less shares repurchased from assumed proceeds. The assumed proceeds calculation includes actual proceeds to be received from the employee upon exercise and the average unrecognized stock compensation cost during the period.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	NOTE 11 – STOCKHOLDERS’ EQUITY Equity Incentive Plans The 2020 Equity Incentive Plan On June 1, 2020, the Company adopted the 2020 Equity Incentive Plan (the “2020 EIP”). Under the 2020 EIP, the Company may grant equity-based awards to employees, non-employee directors, and consultants for services rendered to the Company (or any parent or subsidiary) in the form of stock options, stock awards, restricted stock awards, restricted stock units, stock appreciation rights, dividend equivalents and performance awards (or any combination thereof). A total of 16.8 million shares have been reserved for issuance under the 2020 EIP provided that each share issued pursuant to “full value” awards (i.e., stock awards, restricted stock awards, restricted stock units, performance awards and dividend equivalents) are counted against shares available for issuance under the 2020 EIP on a 1.5 to 1 ratio. At the 2022 Annual Stockholders Meeting o n April 29, 2022, th e Company’s shareholders approved an amendment to the 2020 EIP and increased by 8.8 million the number of shares reserved for issuance. The 2020 EIP provides for option grants designed as either incentive stock options or nonstatutory options. Options generally are granted with an exercise price not less than the value of the common stock on the grant date and have a term of ten years from the date of grant and vest over a four-year period. The vesting criteria for restricted stock awards and restricted stock units is generally the passage of time or meeting certain performance-based objectives, and continued employment through the vesting period, which is generally four years for time-based awards. Assumed Plans On June 1, 2020, the Company assumed all then-outstanding stock options, awards, and shares available and reserved for issuance under all legacy Equity Incentive Plans of TiVo (collectively, the “Assumed Plans”). Stock options assumed from the Assumed Plans generally have vesting periods of four years and a contractual term of seven years . Awards of restricted stock and restricted stock units assumed from the Assumed Plans are generally subject to a four year vesting period. The number of shares subject to stock options and restricted stock units outstanding under these plans are included in the tables below. Shares reserved under the Assumed Plans will be available for future grants. As of June 30, 2023, there were 2.8 million shares reserved for future grants under both the 2020 EIP and the Assumed Plans. A summary of the stock option activity is presented below (in thousands, except per share amounts): Options Outstanding Number of Weighted Balance at December 31, 2022 364 $ 13.06 Options granted — $ — Options exercised ( 38 ) $ 10.67 Options canceled / forfeited / expired ( 35 ) $ 11.29 Balance at June 30, 2023 291 $ 13.58 Restricted Stock Units Information with respect to outstanding restricted stock units (including both time-based vesting and performance-based vesting) as of June 30, 2023 is as follows (in thousands, except per share amounts) : Restricted Stock and Restricted Stock Units Number of Number of Total Weighted Balance at December 31, 2022 9,048 1,525 10,573 $ 10.48 Awards and units granted 1,725 731 2,456 $ 10.23 Awards and units vested / earned ( 2,078 ) — ( 2,078 ) $ 10.30 Awards and units canceled / forfeited ( 270 ) — ( 270 ) $ 9.79 Balance at June 30, 2023 8,425 2,256 10,681 $ 10.47 Performance Awards and Units Performance awards may be granted to employees or consultants based upon, among other things, the contributions, responsibilities and other compensation of the particular employee or consultant. The value and the vesting of such performance awards are generally linked to one or more performance goals or certain market conditions determined by the Company, in each case on a specified date or dates or over any period or periods determined by the Company, and may range from zero to 200 percent of the grant. For performance awards subject to a market vesting condition (“market-based PSUs”), the fair value per award is fixed at the grant date and the amount of compensation expense is not adjusted during the performance period regardless of changes in the level of achievement of the market condition. Employee Stock Purchase Plans On June 1, 2020, the Company adopted the 2020 Employee Stock Purchase Plan (the “2020 ESPP”). The 2020 ESPP is implemented through consecutive overlapping 24 -month offering periods, each of which is comprised of four six-month purchase periods. The first offering period commenced on September 1, 2020 and ended on August 31, 2022. Due to the Separation, the next offering period under the 2020 ESPP plan commenced on December 1, 2022. Each subsequent offering period under the 2020 ESPP will be twenty-four (24) months long and will commence on each December 1 with four six-month purchase periods. Participants may contribute up to 100 % of their base earnings and commissions through payroll deductions, and the accumulated deductions will be applied to the purchase of shares on each semi-annual purchase date. The purchase price per share will equal 85 % of the fair market value per share on the start date of the offering period or, if lower, 85 % of the fair market value per share on the semi-annual purchase date. An eligible employee’s right to buy the Company’s common stock under the 2020 ESPP may not accrue at a rate in excess of $ 25,000 of the fair market value of such shares per calendar year for each calendar year of an offering period. If the fair market value per share of the Company’s common stock on any purchase date during an offering period is less than the fair market value per share on the start date of the 24 -month offering period, then that offering period will automatically terminate and a new 24 -month offering period will begin on the next business day. All participants in the terminated offering will be transferred to the new offering period. Due to the fair market value per share of Company’s common stock on May 31, 2023 as compared to the fair market value per share on December 1, 2022, the offering period was automatically terminated and a new 24-month offering period began on June 1, 2023 and will end on May 31, 2025. At the 2022 Annual Stockholders Meeting on April 29, 2022, the Company's shareholders approved an amendment to the 2020 ESPP and increased by 6.0 million the number of shares reserved for issuance. As of June 30, 2023, there were 5.4 million shares reserved for grant under the Company’s 2020 ESPP. Modification of Equity Awards In connection with the Separation and under the provisions of the existing plans described above, the Company’s outstanding stock options and equity awards were converted to units denominated in the equity of the Company, Xperi Inc., or both. The number of units and exercise prices of outstanding stock options and equity awards were converted based on the conversion ratios established in the Employee Matters Agreement that the Company entered into in connection with the Separation. The intent of the conversion ratios was to preserve the value of the awards immediately before and after the Separation. Upon the Separation, employees holding stock options and equity awards denominated in the Company’s pre-Separation stock received a number of otherwise-similar stock options and awards in post-Separation Company’s stock and/or Xperi Inc.’s stock based on the conversion ratios outlined for each group of employees. For purposes of the vesting of these equity awards, continued employment or service with the Company or with Xperi Inc. is treated as continued employment for purposes of both the Company’s and Xperi Inc.’s equity awards and the vesting terms of each converted grant remained unchanged. There were no changes to the plan terms described above with the exception that the price on the grant date, or October 1, 2022 was adjusted to exclude the value of Xperi Inc. based on the conversion ratios applied to other equity awards. Dividends Stockholders of the Company’s common stock are entitled to receive dividends when declared by the Company’s board of directors (the “Board”). During the three and six months ended June 30, 2023 and 2022, quarterly dividends declared were $ 0.05 and $ 0.10 per common share, respectively. The capacity to pay dividends in the future depends on many factors, including the Company’s financial condition, results of operations, capital requirements, capital structure, industry practice and other business conditions that the Board considers relevant. Stock Repurchase Programs On June 12, 2020 the Board authorized a stock repurchase program providing for the repurchase of up to $ 150.0 million of the Company's Common Stock dependent on market conditions, share prices and other factors. On April 22, 2021, the Board authorized an additional $ 100.0 million of purchases under the existing stock repurchase plan. As of June 30, 2023, the Company had repurchased a total of approximately 10.0 million shares of common stock, since inception of the plan, at an average price of $ 17.24 per share for a total cost of $ 172.2 million. The shares repurchased are recorded as treasury stock and are accounted for under the cost method. No expiration date has been specified for this plan. As of June 30, 2023, the total remaining amount available for repurchase under this plan w as $ 77.8 million. The Company may execute authorized repurchases from time to time under the plan. In connection with the stock repurchase program, all shares repurchased by the Company as of June 1, 2020 and recorded as treasury stock were canceled and retired. The Company accounts for stock repurchases using the cost method and records retirement of treasury stock as a reduction of the cumulative treasury stock paid-in capital balance. Once the cumulative balance is reduced to zero, any remaining difference resulting from the retirement of treasury stock is recorded as a reduction of retained earnings. The Company issues restricted stock awards as part of the equity incentive plans described above. For the majority of restricted awards, shares are withheld to satisfy required withholding taxes at the vesting date. Shares withheld to satisfy required withholding taxes in connection with the vesting of restricted awards are treated as common stock repurchases in the Condensed Consolidated Financial Statements because they reduce the number of shares that would have been issued on vesting. However, these withheld shares are not included in common stock repurchases under the Company’s authorized share repurchase plan. During the three months ended June 30, 2023 and 2022, the Company with held 0.1 mill ion and 0.1 million shares of common stock to satisfy $ 0.9 million and $ 0.4 million of required withholding taxes, respectively. During the six months ended June 30, 2023 and 2022, the Company withheld 0.8 million and 0.7 million shares of common stock to satisfy $ 7.5 m illion and $ 11.5 million of required withholding taxes, respectively.

Stock-Based Compensation Expens

Stock-Based Compensation Expense	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	NOTE 12 – STOCK-BASED COMPENSATION EXPENSE The effect of recording stock-based compensation (“SBC”) expense for the three and six months ended June 30, 2023 and 2022 is as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Research and development $ 736 $ 393 1,330 768 Selling, general and administrative 3,820 4,550 6,866 12,321 Total stock-based compensation expense $ 4,556 $ 4,943 $ 8,196 $ 13,089 In connection with termination of employment with a former executive on March 1, 2022, the Company entered into a Separation Agreement and Release with the executive, dated February 18, 2022 (the “Separation Agreement”). Pursuant to the Separation Agreement, the Company approved, among other severance benefits, accelerated vesting of 372,244 of outstanding performance and time-based restricted stock units. As a result of this modification, the Company recorded incremental SBC of approximately $ 2.2 million during the six months ended June 30, 2022. There were no options granted during the three and six months ended June 30, 2023 and 2022. The following assumptions were used to value the restricted stock units subject to market conditions granted in the following months during the three and six months ended June 30, 2023 and 2022: May 2023 March 2023 June 2022 April 2022 Expected life (years) 3.0 3.0 3.0 3.0 Risk-free interest rate 3.6 % 4.5 % 2.8 % 2.8 % Dividend yield 2.3 % 1.9 % 1.2 % 1.2 % Expected volatility 63.3 % 68.5 % 37.5 % 40.9 % Prior to the Separation, ESPP grants occurred in March and September. Due to the Separation, the offering period under the 2020 ESPP plan commenced on December 1, 2022, and due to the fair value of the Company’s common stock on May 31, 2023 as compared to December 1, 2022, a new offering period commenced on June 1, 2023. ESPP grants occurs in June and December, as discussed in “Note 11 – Stockholders’ Equity. ” The following assumptions were used to value the ESPP shares for these grants: June 2023 March 2022 Expected life (years) 2.0 2.0 Risk-free interest rate 4.3 % 1.3 % Dividend yield 2.0 % 1.1 % Expected volatility 63.5 % 48.5 %

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 13 – INCOME TAXES The Company’s income tax provision and effective tax rate for interim periods are based on its estimated annual effective tax rate adjusted for discrete items during the period. For the three and six months ended June 30, 2023, the Company recorded income tax expense of $ 2.4 million and $ 14.2 million, respectively. For the three and six months ended June 30, 2022, the Company recorded income tax expense of $ 10.6 million and $ 16.1 million, respectively. The effective tax rate varies from the 21 % U.S. federal tax rate primarily due to foreign exchange gain or loss on prior year South Korea withholding tax refund claims. The decrease in income tax expense for the three and six months ended June 30, 2023, as compared to the same period in the prior year was primarily due to a decrease in pretax income.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	NOTE 14 – LEASES The Company leases office and research facilities and office equipment under operating leases which expire through 2027. The Company’s leases have remaining lease terms of two to four years , some of which may include options to extend the leases for five years or longer, and some of which may include options to terminate the leases within the next five years or less. Leases with an initial term of 12 months or less are not recorded on the Condensed Consolidated Balance Sheets; expense for these leases is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred and are not included within the lease liability and right-of-use assets calculation. As a practical expedient, the Company elected, for all office and facility leases, not to separate nonlease components (e.g., common-area maintenance costs) from lease components (e.g., fixed payments including rent) and instead to account for each separate lease component and its associated non-lease components as a single lease component. As most of the leases do not provide an implicit rate, the Company generally, for purposes of discounting lease payments, uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The components of operating lease costs were as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Fixed lease cost $ 539 $ 562 $ 1,110 $ 1,066 Variable lease cost 146 68 297 287 Total operating lease cost $ 685 $ 630 $ 1,407 $ 1,353 Other information related to leases was as follows (in thousands, except lease term and discount rate): Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 609 $ 574 $ 1,197 $ 1,124 ROU assets obtained in exchange for new lease liabilities: Operating leases $ — $ — $ — $ 1,153 June 30, 2023 December 31, 2022 Weighted-average remaining lease term (years): Operating leases 2.72 3.19 Weighted-average discount rate: Operating leases 5.4 % 5.4 % Future minimum lease payments and related lease liabilities as of June 30, 2023 were as follows (in thousands): Operating Lease Payments (1) 2023 (remaining 6 months) $ 1,236 2024 2,525 2025 1,975 2026 291 2027 299 Thereafter — Total lease payments 6,326 Less: imputed interest ( 441 ) Present value of lease liabilities: $ 5,885 Less: current obligations under leases (accrued liabilities) 2,230 Noncurrent operating lease liabilities $ 3,655 (1) Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance and real estate taxes.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 15 – COMMITMENTS AND CONTINGENCIES Purchase and Other Contractual Obligations In the ordinary course of business, the Company enters into contractual agreements with third parties that include non-cancelable payment obligations, for which it is liable in future periods. These arrangements primarily include unconditional purchase obligations to service providers. As of June 30, 2023, the Company’s total future unconditional purchase obligations were approximately $ 3.3 million, including $ 1.1 million due in the remainder of 2023, $ 1.3 million due in 2024 and the remaining $ 0.9 million due in 2025. Guarantee Prior to the Separation, Adeia Media LLC, a subsidiary of the Company (“Adeia Media”), and a subsidiary of Xperi Inc. (“Xperi Sub”) entered into an agreement (the “Specified Agreement”) with a third party pursuant to which Adeia Media guarantees the performance of Xperi Sub under the Specified Agreement, including its payment obligations to such third party. In connection with the Separation, Adeia Media and Xperi Sub entered into a separate cross business agreement (the “Cross Business Agreement”) effective as of October 1, 2022, under which Adeia Media agreed to make guarantee payments to Xperi Sub in amounts based on certain of its operating expenses and other minimum performance obligations under the Specified Agreement through 2031. Consequently, on October 1, 2022, the Company recognized a guarantee liability pursuant to ASC 460 “Guarantees” of $ 19.7 million, which represents the fair value of Adeia Media’s projected payments of such operating expenses during the term of the Cross Business Agreement. Subsequent changes to the carrying value of the guarantee are recognized as part of the Company’s results of operations. The maximum potential amount of future payments subject to the guarantee is approximately $ 7.5 million per annum between 2023 and 2031 . As of June 30, 2023 and December 31, 2022, the balance of the guarantee liability was $ 19.1 million and $ 20.5 million, respectively. During the three months and six months ended June 30, 2023, the Company made guarantee payments of $ 0.6 million and $ 1.1 million, respectively. The Company recognized other income of $ 0.3 million during the six months ended June 30, 2023 in the Condensed Consolidated Statement of Operations as a result of a change in the carrying value of the guarantee liability. Indemnifications In the normal course of business, the Company provides indemnifications of varying scopes and amounts to certain of its licensees, customers, and business partners against claims made by third parties arising from the use of the Company’s intellectual property, services or technologies. The Company cannot reasonably estimate the possible range of losses that may be incurred pursuant to its indemnification obligations, if any. Variables affecting any such assessment include, but are not limited to: the nature of the claim asserted; the relative merits of the claim; the financial ability of the party suing the indemnified party to engage in protracted litigation; the number of parties seeking indemnification; the nature and amount of damages claimed by the party suing the indemnified party; and the willingness of such party to engage in settlement negotiations. To date, no such claims have been filed against the Company and no liability has been recorded in the Company’s financial statements. As permitted under Delaware law, the Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company believes, given the absence of any such payments in the Company’s history, and the estimated low probability of such payments in the future, that the estimated fair value of these indemnification agreements is immaterial. In addition, the Company has directors’ and officers’ liability insurance coverage that is intended to reduce its financial exposure and may enable the Company to recover any payments under the indemnification agreements, should they occur. Contingencies At each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of losses is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. Litigation related On June 23, 2017, Adeia Guides Inc. (formerly known as Rovi Guides, Inc.) and Adeia Media Solutions Inc. (formerly known as TiVo Solutions Inc.) (together, “Adeia Media”) filed a patent infringement complaint against Videotron Ltd. and Videotron G.P. (together, “Videotron”) in Toronto, Canada, alleging infringement of six patents (“Videotron 1”). On June 10, 2022, the Federal Court of Canada issued its decision in the case finding in favor of Videotron and its legacy illico platform. Specifically, the Court found invalid each of the asserted claims related to the four remaining patents involved in the case. In Canada, the prevailing party in patent litigation is entitled to reimbursement of certain of its costs and expenses. Accordingly, the Company accrued and paid $ 2.5 million for expense reimbursement during the year ended December 31, 2022. On September 12, 2022, Adeia Media filed a notice of appeal with the Federal Court of Appeal of Canada appealing the decision of the Federal Court of Canada. On January 30, 2023, Adeia Media filed its opening memorandum of fact and law. Videotron filed its memorandum of fact and law on April 17, 2023. On January 19, 2018, Adeia Media filed a patent infringement complaint against Bell Canada (and four of its affiliates) (collectively, “Bell”) in Toronto, Canada, alleging infringement of six patents (“Bell 1”). On February 2, 2018, Adeia Media filed a patent infringement complaint against Telus Corporation (and two of its affiliates) (collectively, “Telus”) in Toronto, Canada, alleging infringement of the same six patents (“Telus 1”). Bell 1and Telus 1 were heard together for purposes of pre-trial and trial proceedings. On October 7, 2022, the Federal Court of Canada issued its decision in the two cases finding in favor of Bell and Telus and their respective IPTV services, Bell Fibe TV and Telus Optik TV. Specifically, the Court found invalid each of the asserted claims of the four remaining patents involved in the case. In Canada, the prevailing party in patent litigation is entitled to reimbursement of certain of its costs and expenses. Accordingly, the Company paid $ 2.6 million for expense reimbursement in the second quarter of 2023. On November 7, 2022, Adeia Media filed a notice of appeal with the Federal Court of Appeal of Canada appealing the decision of the Federal Court of Canada. On June 2, 2023, Adeia Media filed its opening memorandum of fact and law. The Bell and Telus memorandum of fact and law is due August 18, 2023. The Company is unable to predict the final outcome of other lawsuits, including other patent infringement lawsuits in Canada, to which it is a party and therefore cannot determine the likelihood of loss nor estimate a range of possible losses. An adverse decision in any of these proceedings could significantly harm the Company's business and consolidated financial position, results of operations or cash flows. The Company and its subsidiaries are involved in litigation matters and claims in the normal course of business. In the past, the Company and its subsidiaries have litigated to enforce their respective patents, to enforce the terms of license agreements, to determine the validity and scope of the proprietary rights of others and to defend itself or its customers against claims of infringement or invalidity. The Company expects it or its subsidiaries will be involved in similar legal proceedings in the future, including proceedings regarding infringement of its patents, and proceedings to ensure proper and full payment of royalties by licensees under the terms of its license agreements.

Segment and Geographic Informat

Segment and Geographic Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment and Geographic Information	NOTE 16 – SEGMENT AND GEOGRAPHIC INFORMATION The Company changed its operational structure in the fourth quarter of 2022, resulting in one reportable segment: Intellectual Property (“IP”) Licensing. Reportable segments are identified based on the Company’s organizational structure and information reviewed by the Company’s chief operating decision maker (“CODM”) to evaluate performance and allocate resources. The Company’s Chief Executive Officer is also the CODM as defined by the authoritative guidance on segment reporting. The table below lists the geographic revenue for the periods indicated (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 U.S. and Canada $ 73,223 88 % $ 100,111 93 % $ 159,308 80 % $ 231,051 94 % Asia 7,363 9 5,690 5 35,983 18 11,419 5 Europe and Middle East 2,195 3 1,490 2 4,383 2 2,842 1 Other 436 — 524 — 850 — 1,035 — $ 83,217 100 % $ 107,815 100 % $ 200,524 100 % $ 246,347 100 % For the three months ended June 30, 2023 and 2022, there were three and two customers, respectively, that each accounted for 10% or more of total revenue. For the six months ended June 30, 2023 and 2022, there were three customers, respectively, that each accounted for 10% or more of total revenue. The following table sets forth revenue generated from customers which comprise 10% or more of total revenue for the periods indicated: Three Months Ended Six Months Ended 2023 2022 2023 2022 Customer A 20.7 % 15.9 % 17.1 % 14.0 % Customer B 13.3 % * 11.1 % * Customer C 10.4 % * * * Customer D * 26.0 % * 11.4 % Customer E * * 10.4 % * Customer F * * * 23.0 % * denotes less than 10% of total revenue. As of June 30, 2023, the Company had one customer representing 54 % of aggregate accounts receivable. At December 31, 2022, the Company had two customers representing 36 % and 29 % of aggregate accounts receivable, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 17 – SUBSEQUENT EVENTS Declaration of Cash Dividends On J uly 27, 2023 , the Board declared a cash dividend of $ 0.05 per share of common stock, payable on September 18, 2023 for the stockholders of record at the close of business on August 28, 2023 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting	The accompanying interim unaudited Condensed Consolidated Financial Statements have been prepared by the Company in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. The amounts as of December 31, 2022 have been derived from the Company’s annual audited Consolidated Financial Statements included in its Annual Report on Form 10-K for the year ended December 31, 2022, filed on March 1, 2023 (the “Form 10-K”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements reflect all adjustments necessary (consisting of normal recurring adjustments) to state fairly the financial position of the Company and its results of operations and cash flows as of and for the periods presented. These Condensed Consolidated Financial Statements should be read in conjunction with the annual audited Consolidated Financial Statements and notes thereto included in the Form 10-K as of and for the year ended December 31, 2022.
Reclassification	Reclassification Certain reclassifications have been made to prior period balances in order to conform to the current period’s presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates and assumptions that require management’s most significant, challenging and subjective judgment include identifying the performance obligations in the contract, estimating variable consideration, estimating quarterly royalties prior to receiving the royalty reports from the licensees, determining standalone selling prices, allocating consideration in a contract with multiple performance obligations, the assessment of the recoverability of goodwill, the assessment of useful lives and recoverability of other intangible assets and long-lived assets, recognition and measurement of current and deferred income tax assets and liabilities, the assessment of unrecognized tax benefits and purchase accounting resulting from business combinations, among others. Actual results experienced by the Company may differ from management’s estimates. These estimates may change, as new events occur and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), which provides further clarification on the scope of Topic 848 so that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions in Topic 848. ASU 2020-04 became effective upon issuance and may be applied prospectively to contract modifications made on or before December 31, 2022. ASU 2021-01 became effective upon issuance and may be applied on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020 or prospectively for contract modifications made on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”), which deferred the application dates of Topic 848 to December 31, 2024. In the second quarter of 2023 , the Company adopted Topic 848 and modified its debt agreement to reference to other rates. The adoption did not have a material impact to the Company’s Condensed Consolidated Financial Statements.
Revenue Recognition	Revenue Recognition General Revenue is recognized when control of the intellectual property (“IP”) rights is transferred to a customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for the licensing of the Company’s IP, which may include various combinations of IP rights and services which are generally capable of being distinct and accounted for as separate performance obligations. In situations where foreign withholding taxes are withheld by the Company’s licensee, revenue is recognized gross of withholding taxes that are remitted directly by the licensee to a local tax authority. Some of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the individual performance obligations are separately accounted for if they are distinct. In a contract with multiple performance obligations, the transaction price is allocated among the separate performance obligations on a relative standalone selling price basis. The determination of standalone selling price considers market conditions, the size and scope of the contract, customer and geographic information, and other factors. When observable prices are not available, standalone selling price for separate performance obligations is based on the adjusted market assessment approach to estimate the price that a customer in the relevant market would be willing to pay for licensing the Company’s IP rights. The allocation of transaction price among performance obligations in a contract may impact the amount and timing of revenue recognized in the Condensed Consolidated Statements of Operations during a given period. When a contract with a customer includes variable consideration, an estimate of the consideration which the Company expects to be entitled to for transferring the promised IP rights or services is made at contract inception and in each subsequent reporting period until the uncertainty associated with the variable consideration is resolved. The amount of variable consideration is estimated by considering all available information (historical, current, and forecast) and is updated as additional information becomes available. The estimate of variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Subsequent changes in the transaction price resulting from changes in the estimate of variable consideration are allocated to the performance obligations in the contract on the same basis as at contract inception. When variable consideration is in the form of a sales-based or usage-based royalty in exchange for a license of IP, revenue is recognized at the later of when the subsequent sale or usage occurs or the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied or partially satisfied. Description of Revenue-Generating Activities IP License Arrangements The Company licenses (i) its media patent portfolios (“Media IP licensing”) to multichannel video programming distributors, over-the-top video service providers, consumer electronics manufacturers, social media and other new media companies and (ii) its semiconductor technologies and associated patent portfolios (“Semiconductor IP licensing”) to memory, logic, sensors, radio frequency component and foundry companies. The Company generally licenses its IP portfolios under three models: (i) fixed-fee Media IP licensing, (ii) fixed-fee or minimum guarantee Semiconductor IP licensing, and (iii) per-unit or per-subscriber Media IP or Semiconductor IP royalty licensing. Fixed-fee Media IP Licensing The Company’s long-term, fixed-fee Media IP licensing contracts provide its customers with rights to future patented technologies over the term of the contract that are highly interdependent or highly interrelated to the patented technologies provided at the inception of the contract. The Company treats these rights as a single performance obligation with revenue recognized on a straight-line basis over the term of the fixed-fee license contract. Fixed-fee or Minimum Guarantee Semiconductor IP Licensing The Company has entered into Semiconductor IP licenses that have a fixed fee or a minimum guarantee, whereby licensees pay a fixed fee for the right to incorporate the Company’s IP technologies in the licensee’s products over the license term. In contracts with a minimum guarantee, the fixed fee component corresponds to a minimum number of units or dollars that the customer must produce or pay, with additional per-unit fees for any units or dollars exceeding the minimum. The Company generally recognizes the full fixed fee as revenue at the beginning of the license term when the customer has the right to use the IP and begins to benefit from the license, net of the effect of any significant financing component calculated using customer-specific, risk-adjusted lending rates, with the related interest income being recognized over time on an effective rate basis. For minimum guarantee contracts where the customer exceeds the minimum, the Company recognizes revenue relating to any additional per-unit fees in the periods it believes the customer has exceeded the minimum and adjusts the revenue based on actual usage once that is reported by the customer. Per-unit or Per-subscriber Media IP or Semiconductor IP Royalty Licensing The Company recognizes revenue from per-unit or per-subscriber IP royalty licenses in the period in which the licensee’s sales or production are estimated to have occurred, which results in an adjustment to revenue when actual sales or production are subsequently reported by the licensee, which is generally in the month or quarter following usage or shipment. Estimating customers’ monthly or quarterly royalties prior to receiving the royalty reports requires the Company to make significant assumptions and judgments related to forecasted trends and growth rates used to estimate quantities shipped or manufactured by customers, which could have a material impact on the amount of revenue it reports on a quarterly basis. IP License Contracts with Multiple Performance Obligations At times, the Company enters into long-term license contracts with more than one performance obligation, which may include releases from past patent infringement claims or one or more prospective licenses. In these arrangements, the Company allocates the transaction price between releases for past patent infringement claims and prospective licenses based on their relative standalone selling prices, which requires significant management judgment. In determining the standalone selling price of each performance obligation, the Company considers such factors as the number of past and projected future subscribers, units shipped and units manufactured, as well as the per-subscriber or per-unit licensing rates the Company generally receives from licensees of comparable sizes in comparable markets and geographies. As a release from past patent infringement claims is generally satisfied at execution of the contract, the transaction price allocated to the release from past patent infringement claims is generally recognized in the period the contract is executed. Transaction price allocated to prospective Media IP licenses is recognized ratably over the license term, and transaction price allocated to prospective Semiconductor IP licenses is recognized upon execution of the contract. Practical Expedients and Exemptions The Company applies a practical expedient to not perform an evaluation of whether a contract includes a significant financing component when the timing of revenue recognition differs from the timing of cash collection by one year or less. The Company applies a practical expedient to expense costs to obtain a contract with a customer as incurred as a component of selling, general and administrative expenses when the amortization period would have been one year or less. The Company applies a practical expedient when disclosing revenue expected to be recognized from unsatisfied performance obligations to exclude contracts with customers with an original duration of less than one year ; amounts attributable to variable consideration arising from (i) a sales-based or usage-based royalty of an IP license or (ii) when variable consideration is allocated entirely to a wholly unsatisfied performance obligation; or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets	Contract assets were recorded in the Condensed Consolidated Balance Sheets as follows (in thousands): June 30, 2023 December 31, 2022 Unbilled contracts receivable $ 74,941 $ 73,754 Sales commissions recorded in other current assets 576 512 Long-term unbilled contracts receivable (1) 64,986 40,705 Sales commissions recorded in other long-term assets 1,131 1,144 Total contract assets $ 141,634 $ 116,115 (1) The long-term unbilled contracts receivable increase relates primarily to the recognition of revenue from two long-term semiconductor patent portfolio license agreements entered into during the six months ended June 30, 2023.
Schedule of Revenue Recognized in Period	The following table presents additional revenue and contract disclosures (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenue recognized in the period from: Amounts included in deferred revenue at the beginning of the period $ 4,107 $ 1,356 $ 8,889 $ 2,709 Performance obligations satisfied in previous periods (1) $ 1,131 $ 5,520 $ 1,884 $ 5,637 (1) Performance obligations satisfied in previous periods consist of settlements of litigation for past royalties owed pursuant to expired or terminated IP license agreements and revenue from releases for past patent infringement claims.
Schedule of Remaining Performance Obligations	Remaining revenue under contracts with performance obligations represents the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) under certain of the Company’s fixed fee arrangements (in thousands). As of Revenue from contracts with performance obligations expected to be satisfied in: 2023 (remaining 6 months) $ 79,492 2024 148,449 2025 143,824 2026 47,060 2027 36,556 Thereafter 76,527 Total $ 531,908

Composition of Certain Financ_2

Composition of Certain Financial Statement Captions (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Prepaid income taxes $ 7,456 $ 7,252 Prepaid expenses 1,477 1,924 Prepaid insurance 690 2,103 Other 1,325 645 $ 10,948 $ 11,924
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (in thousands): June 30, 2023 December 31, 2022 Equipment, furniture and other $ 15,231 $ 14,148 Leasehold improvements 5,206 5,057 20,437 19,205 Less: accumulated depreciation and amortization ( 15,424 ) ( 14,655 ) $ 5,013 $ 4,550
Schedule of Other Long Term Assets	Other long-term assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Long-term deferred tax assets $ 33,776 $ 35,278 Other assets 4,785 5,472 $ 38,561 $ 40,750
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Employee compensation and benefits $ 4,286 $ 6,978 Accrued expenses 2,733 12,745 Current portion of operating lease liabilities 2,230 2,108 Accrued legal fees 1,829 4,942 Current portion of guarantee (1) 600 2,431 Other 2,411 2,073 $ 14,089 $ 31,277 (1) Refer to “Note 15 – Commitments and Contingencies” for further detail on the nature of the guarantee.
Schedule of Other Long-Term Liabilities	Other long-term liabilities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Long-term portion of guarantee (1) $ 18,505 $ 18,064 Other 1,952 1,979 $ 20,457 $ 20,043 (1) Refer to “Note 15 – Commitments and Contingencies” for further detail on the nature of the guarantee.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Marketable Securities	The following is a summary of marketable securities at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Cost Gross Gross Allowance for Credit Losses Estimated Marketable securities Municipal Bonds and Notes $ 1,836 $ — $ ( 7 ) $ — $ 1,829 Treasury and Agency Notes and Bills 11,312 1 ( 13 ) — 11,300 Commercial paper 16,421 — ( 23 ) — 16,398 Total debt securities 29,569 1 ( 43 ) — 29,527 Money market funds 4,333 — — — 4,333 Total equity securities 4,333 — — — 4,333 Total marketable securities $ 33,902 $ 1 $ ( 43 ) $ — $ 33,860 Reported in: Cash and cash equivalents $ 10,019 Available-for-sale debt securities $ 23,841 Total marketable securities $ 33,860 December 31, 2022 Cost Gross Gross Allowance for Credit losses Estimated Marketable securities Commercial paper $ 29,018 $ 3 $ ( 6 ) $ — $ 29,015 Total debt securities 29,018 3 ( 6 ) — 29,015 Money market funds 4,107 — — — 4,107 Total equity securities 4,107 — — — 4,107 Total marketable securities $ 33,125 $ 3 $ ( 6 ) $ — $ 33,122 Reported in: Cash and cash equivalents $ 33,122
Fair Value and Gross Unrealized Losses Related to Individual Available-for-Sale Debt Securities	The following table summarizes the fair value and gross unrealized losses related to individual AFS debt securities at June 30, 2023 and December 31, 2022, which have been in a continuous unrealized loss position, aggregated by investment category and length of time (in thousands): Less Than 12 Months 12 Months or More Total Fair Value June 30, 2023 Fair Value Gross Fair Value Gross Fair Value Gross Cash and Cash Equivalents AFS Debt Securities Municipal Bonds and Notes $ 1,829 $ ( 7 ) $ — $ — $ 1,829 $ ( 7 ) $ — $ 1,829 Treasury and Agency Notes and Bills 11,300 ( 13 ) — — 11,300 ( 13 ) 1,398 $ 9,902 Commercial paper 16,398 ( 23 ) — — 16,398 ( 23 ) 4,288 $ 12,110 Total $ 29,527 $ ( 43 ) $ — $ — $ 29,527 $ ( 43 ) $ 5,686 $ 23,841 Less Than 12 Months 12 Months or More Total Fair Value December 31, 2022 Fair Value Gross Fair Value Gross Fair Value Gross Cash and Cash Equivalents AFS Debt Securities Commercial paper $ 29,015 $ ( 6 ) $ — $ — $ 29,015 $ ( 6 ) $ 29,015 $ —
Estimated Fair Value of Marketable Debt Securities by Contractual Maturity	The estimated fair value of marketable debt securities by contractual maturity at June 30, 2023 is shown below (in thousands). Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without penalties. Estimated Due in one year or less $ 29,527

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets Measured on Recurring Basis	Fair Value Quoted Significant Significant Assets Marketable securities Money market funds - equity securities (1) $ 4,333 $ 4,333 $ — $ — Municipal bonds and notes - debt securities (2) 1,829 — 1,829 — Treasury and agency notes and bills - debt securities (3) 11,300 — 11,300 — Commercial paper - debt securities (3) 16,398 — 16,398 — Total Assets $ 33,860 $ 4,333 $ 29,527 $ — (1) Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet. (2) Reported as AFS debt securities in the Condensed Consolidated Balance Sheet (3) Reported as cash and cash equivalents as these were purchased with original maturities of three months or less at the date of purchase; otherwise reported as AFS debt securities in the Condensed Consolidated Balance Sheet. The following sets forth the fair value, and classification within the hierarchy, of the Company’s assets required to be measured at fair value on a recurring basis as of December 31, 2022 (in thousands): Fair Value Quoted Significant Significant Assets Marketable securities Money market funds - equity securities (1) $ 4,107 $ 4,107 $ — $ — Commercial paper - debt securities (2) 29,015 — 29,015 — Total Assets $ 33,122 $ 4,107 $ 29,015 $ — (1) Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet. (2) Reported as cash and cash equivalents as these were purchased with original maturities of three months or less at the date of purchase.
Schedule of Carrying Amounts and Estimated Fair Values	The carrying amounts and estimated fair values are as follows (in thousands): June 30, 2023 December 31, 2022 Carrying Estimated Carrying Estimated Refinanced Term B Loans (1) 627,882 623,958 729,393 700,217 Total long-term debt, net $ 627,882 $ 623,958 $ 729,393 $ 700,217 (1) Carrying amounts of long-term debt are net of unamortized debt discount and issuance costs of $ 17.6 million and $ 19.9 million as of June 30, 2023 and December 31, 2022, respectively. See “Note 9 – Debt ” for additional information.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Summary of Consolidated Statement of Operations, Balance Sheet and Cash flows of Discontinued Operation	The financial results of Xperi Inc. for the three and six months ended June 30, 2022 are presented as net loss from discontinued operations, net of tax, in the Condensed Consolidated Statements of Operations. The following table presents financial results of Xperi Inc. (in thousands): Three Months Ended Six Months Ended Revenue $ 126,203 $ 245,091 Operating expenses: Cost of revenue 26,879 54,286 Research and development 51,368 101,607 Selling, general and administrative 37,633 74,329 Depreciation expense 5,115 10,678 Amortization expense 14,760 29,553 Litigation expense 319 994 Total operating expenses 136,074 271,447 Operating loss ( 9,871 ) ( 26,356 ) Other income and expense, net ( 176 ) 456 Loss before taxes ( 10,047 ) ( 25,900 ) Provision for income taxes 11,586 27,602 Net loss from discontinued operations, net of tax $ ( 21,633 ) $ ( 53,502 ) Less: net loss attributable to noncontrolling interest ( 848 ) ( 1,816 ) Net loss attributable to discontinued operations $ ( 20,785 ) $ ( 51,686 ) The following table presents selected financial information related to cash flows from discontinued operations (in thousands): Six Months Ended Net cash from operating activities $ ( 2,919 ) Net cash from investing activities $ ( 8,415 )

Goodwill and Identified Intan_2

Goodwill and Identified Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Identified Intangible Assets	Identified intangible assets consisted of the following (in thousands): Average June 30, 2023 December 31, 2022 Life Gross Accumulated Net Gross Accumulated Net Finite-lived intangible assets Acquired patents / core technology 3 - 10 $ 646,023 $ ( 296,695 ) $ 349,328 $ 645,928 $ ( 270,275 ) $ 375,653 Existing technology / content database 5 - 10 38,681 ( 38,164 ) 517 38,681 ( 36,614 ) 2,067 Customer contracts and related relationships 3 - 9 155,900 ( 120,540 ) 35,360 155,900 ( 101,252 ) 54,648 Trademarks/trade name 4 - 10 1,300 ( 1,273 ) 27 1,300 ( 1,192 ) 108 Total intangible assets $ 841,904 $ ( 456,672 ) $ 385,232 $ 841,809 $ ( 409,333 ) $ 432,476
Estimated Future Amortization Expense	As of June 30, 2023, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands): Amounts 2023 (remaining 6 months) $ 46,210 2024 68,821 2025 52,743 2026 52,609 2027 52,258 Thereafter 112,591 $ 385,232

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Amounts of Debt	The outstanding amounts of debt were as follows (in thousands): June 30, 2023 December 31, 2022 Refinanced Term B Loans $ 645,500 $ 749,250 Unamortized debt discount and issuance costs ( 17,618 ) ( 19,857 ) 627,882 729,393 Less: current portion, net of debt discount and issuance costs ( 36,400 ) ( 109,813 ) Total long-term debt, net of current portion $ 591,482 $ 619,580
Summary of Future Minimum Principal Payments for Long-term Debt, Excluding Any Additional Payment Required by the Excess Cash Flow Provision	As of June 30, 2023, future minimum principal payments for long-term debt, excluding any additional principal payment required by the excess cash flow provision, are summarized as follows (in thousands): Amounts 2023 (remaining 6 months) $ 20,250 2024 40,500 2025 40,500 2026 40,500 2027 40,500 Thereafter 463,250 Total $ 645,500

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted shares (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 1,419 $ 15,160 $ 30,440 $ 71,005 Net loss attributable to discontinued operations — ( 20,785 ) — ( 51,686 ) Net income attributable to the Company $ 1,419 $ ( 5,625 ) $ 30,440 $ 19,319 Denominator: Weighted average shares of common stock outstanding 106,464 104,001 106,027 103,841 Add: Effect of dilutive securities associated with options — 1 — 1 Add: Effect of dilutive securities associated with restricted stock awards and units 6,311 1,158 7,078 1,520 Weighted average common shares - dilutive 112,775 105,160 113,105 105,362 Basic net income (loss) per share Net income from continuing operations $ 0.01 $ 0.15 $ 0.29 $ 0.69 Net loss attributable to discontinued operations — ( 0.20 ) — ( 0.50 ) Net income attributable to the Company $ 0.01 $ ( 0.05 ) $ 0.29 $ 0.19 Diluted net income (loss) per share Net income from continuing operations $ 0.01 $ 0.14 $ 0.27 $ 0.67 Net loss attributable to discontinued operations — ( 0.20 ) — ( 0.49 ) Net income attributable to the Company $ 0.01 $ ( 0.06 ) $ 0.27 $ 0.18 Anti-dilutive employee stock-based awards, excluded 1,816 7,900 613 3,800

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	Options Outstanding Number of Weighted Balance at December 31, 2022 364 $ 13.06 Options granted — $ — Options exercised ( 38 ) $ 10.67 Options canceled / forfeited / expired ( 35 ) $ 11.29 Balance at June 30, 2023 291 $ 13.58
Summary of Restricted Stock Units	: Restricted Stock and Restricted Stock Units Number of Number of Total Weighted Balance at December 31, 2022 9,048 1,525 10,573 $ 10.48 Awards and units granted 1,725 731 2,456 $ 10.23 Awards and units vested / earned ( 2,078 ) — ( 2,078 ) $ 10.30 Awards and units canceled / forfeited ( 270 ) — ( 270 ) $ 9.79 Balance at June 30, 2023 8,425 2,256 10,681 $ 10.47

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	6 Months Ended
	Jun. 30, 2023
Effect of Recording Stock-Based Compensation Expense	The effect of recording stock-based compensation (“SBC”) expense for the three and six months ended June 30, 2023 and 2022 is as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Research and development $ 736 $ 393 1,330 768 Selling, general and administrative 3,820 4,550 6,866 12,321 Total stock-based compensation expense $ 4,556 $ 4,943 $ 8,196 $ 13,089
Employee Stock Purchase Plan
Schedule of Assumptions Used to Value Awards Granted	June 2023 March 2022 Expected life (years) 2.0 2.0 Risk-free interest rate 4.3 % 1.3 % Dividend yield 2.0 % 1.1 % Expected volatility 63.5 % 48.5 %
Restricted Stock Units
Schedule of Assumptions Used to Value Awards Granted	The following assumptions were used to value the restricted stock units subject to market conditions granted in the following months during the three and six months ended June 30, 2023 and 2022: May 2023 March 2023 June 2022 April 2022 Expected life (years) 3.0 3.0 3.0 3.0 Risk-free interest rate 3.6 % 4.5 % 2.8 % 2.8 % Dividend yield 2.3 % 1.9 % 1.2 % 1.2 % Expected volatility 63.3 % 68.5 % 37.5 % 40.9 %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Operating Lease Costs	The components of operating lease costs were as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Fixed lease cost $ 539 $ 562 $ 1,110 $ 1,066 Variable lease cost 146 68 297 287 Total operating lease cost $ 685 $ 630 $ 1,407 $ 1,353
Schedule of Other Information Related to Leases	Other information related to leases was as follows (in thousands, except lease term and discount rate): Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 609 $ 574 $ 1,197 $ 1,124 ROU assets obtained in exchange for new lease liabilities: Operating leases $ — $ — $ — $ 1,153 June 30, 2023 December 31, 2022 Weighted-average remaining lease term (years): Operating leases 2.72 3.19 Weighted-average discount rate: Operating leases 5.4 % 5.4 %
Schedule of Future Minimum Lease Payments and Related Lease Liabilities	Future minimum lease payments and related lease liabilities as of June 30, 2023 were as follows (in thousands): Operating Lease Payments (1) 2023 (remaining 6 months) $ 1,236 2024 2,525 2025 1,975 2026 291 2027 299 Thereafter — Total lease payments 6,326 Less: imputed interest ( 441 ) Present value of lease liabilities: $ 5,885 Less: current obligations under leases (accrued liabilities) 2,230 Noncurrent operating lease liabilities $ 3,655 (1) Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance and real estate taxes.

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Geographic Revenue Information	The table below lists the geographic revenue for the periods indicated (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 U.S. and Canada $ 73,223 88 % $ 100,111 93 % $ 159,308 80 % $ 231,051 94 % Asia 7,363 9 5,690 5 35,983 18 11,419 5 Europe and Middle East 2,195 3 1,490 2 4,383 2 2,842 1 Other 436 — 524 — 850 — 1,035 — $ 83,217 100 % $ 107,815 100 % $ 200,524 100 % $ 246,347 100 %
Summary of Customers Comprising 10% or More of Total Revenues	For the six months ended June 30, 2023 and 2022, there were three customers, respectively, that each accounted for 10% or more of total revenue. The following table sets forth revenue generated from customers which comprise 10% or more of total revenue for the periods indicated: Three Months Ended Six Months Ended 2023 2022 2023 2022 Customer A 20.7 % 15.9 % 17.1 % 14.0 % Customer B 13.3 % * 11.1 % * Customer C 10.4 % * * * Customer D * 26.0 % * 11.4 % Customer E * * 10.4 % * Customer F * * * 23.0 % * denotes less than 10% of total revenue.

The Company and Basis of Pres_2

The Company and Basis of Presentation - Additional Information (Details)		3 Months Ended	6 Months Ended
	Oct. 01, 2022 NumberOfShare	Dec. 31, 2022 Segment $ / shares	Jun. 30, 2023 Segment Patent $ / shares	Oct. 03, 2022 $ / shares
Organization Consolidation And Presentation [Line Items]
Common stock, par value (in dollars per share) | $ / shares		$ 0.001	$ 0.001	$ 0.001
Number of principal segment | Segment		1	1
Distribution of outstanding shares, percentage	100%
Common stock, conversion ratio	4
Number of each shares of common stock held on record date | NumberOfShare	10
Xperi Inc
Organization Consolidation And Presentation [Line Items]
Ownership interest, percentage	0%
Minimum
Organization Consolidation And Presentation [Line Items]
Number of patents and applications | Patent			10,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle accounting standards update adoption date	Jun. 30, 2023
Change in accounting principle, accounting standards update, immaterial effect [true false]	false
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate202101Member

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) RevenueModel	Dec. 31, 2022 USD ($)
Revenue Recognition [Line Items]
Number of revenue models used for company licenses | RevenueModel	3
Accounts receivable allowance for credit losses | $	$ 1,463	$ 713
Maximum
Revenue Recognition [Line Items]
Practical expedient, timing of revenue recognition differs from the timing of cash collection, period	1 year
Revenue recognition practical expedient amortization period	1 year
Practical expedient revenue expected to be recognized from unsatisfied performance obligations, duration	1 year

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Unbilled contracts receivable	$ 74,941	$ 73,754
Sales commissions recorded in other current assets	576	512
Long-term unbilled contracts receivable	64,986	40,705
Sales commissions recorded in other long-term assets	1,131	1,144
Total contract assets	$ 141,634	$ 116,115

Revenue - Schedule of Revenue R

Revenue - Schedule of Revenue Recognized in Period (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Amounts included in deferred revenue at the beginning of the period	$ 4,107	$ 1,356	$ 8,889	$ 2,709
Performance obligations satisfied in previous periods	$ 1,131	$ 5,520	$ 1,884	$ 5,637

Revenue - Schedule of Remaining

Revenue - Schedule of Remaining Performance Obligations (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 531,908
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 79,492
Performance obligations expected to be satisfied, expected timing	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 148,449
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 143,824
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 47,060
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 36,556
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 76,527
Performance obligations expected to be satisfied, expected timing

Revenue - Schedule of Remaini_2

Revenue - Schedule of Remaining Performance Obligations (Details 1) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 531,908

Composition of Certain Financ_3

Composition of Certain Financial Statement Captions - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid income taxes	$ 7,456	$ 7,252
Prepaid expenses	1,477	1,924
Prepaid insurance	690	2,103
Other	1,325	645
Other current assets, total	$ 10,948	$ 11,924

Composition of Certain Financ_4

Composition of Certain Financial Statement Captions - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,437	$ 19,205
Less: accumulated depreciation and amortization	(15,424)	(14,655)
Property and equipment, net	5,013	4,550
Equipment, furniture and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,231	14,148
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,206	$ 5,057

Composition of Certain Financ_5

Composition of Certain Financial Statement Captions - Schedule of Other Long Term Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term deferred tax assets	$ 33,776	$ 35,278
Other assets	4,785	5,472
Other long-term assets, total	$ 38,561	$ 40,750

Composition of Certain Financ_6

Composition of Certain Financial Statement Captions -Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Employee compensation and benefits	$ 4,286	$ 6,978
Accrued expenses	2,733	12,745
Current portion of operating lease liabilities	2,230	2,108
Accrued legal fees	1,829	4,942
Current portion of guarantee	$ 600	$ 2,431
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities, total	Accrued liabilities, total
Other	$ 2,411	$ 2,073
Accrued liabilities, total	$ 14,089	$ 31,277

Composition of Certain Financ_7

Composition of Certain Financial Statement Captions - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term portion of guarantee	$ 18,505	$ 18,064
Other	1,952	1,979
Other long-term liabilities, total	$ 20,457	$ 20,043

Financial Instruments - Summary

Financial Instruments - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Debt securities, Cost	$ 29,569	$ 29,018
Debt securities, Gross Unrealized Gains	1	3
Debt securities, Gross Unrealized Losses	(43)	(6)
Debt securities, Allowance for Credit Losses	0	0
Debt securities, Estimated Fair Values	29,527	29,015
Equity securities, Cost	4,333	4,107
Equity securities, Gross Unrealized Gains	0	0
Equity securities, Gross Unrealized Losses	0	0
Equity securities, Allowance for Credit Losses	0	0
Equity securities, Estimated Fair Values	4,333	4,107
Marketable securities, Cost	33,902	33,125
Marketable securities, Gross Unrealized Gains	1	3
Marketable securities, Gross Unrealized Losses	(43)	(6)
Marketable securities, Allowance for Credit Losses	0	0
Marketable securities, Estimated Fair Values	33,860	33,122
Municipal Bonds and Notes
Marketable Securities [Line Items]
Debt securities, Cost	1,836
Debt securities, Gross Unrealized Gains	0
Debt securities, Gross Unrealized Losses	(7)
Debt securities, Allowance for Credit Losses	0
Debt securities, Estimated Fair Values	1,829
Treasury and agency notes and bills
Marketable Securities [Line Items]
Debt securities, Cost	11,312
Debt securities, Gross Unrealized Gains	1
Debt securities, Gross Unrealized Losses	(13)
Debt securities, Allowance for Credit Losses	0
Debt securities, Estimated Fair Values	11,300
Commercial paper
Marketable Securities [Line Items]
Debt securities, Cost	16,421	29,018
Debt securities, Gross Unrealized Gains	0	3
Debt securities, Gross Unrealized Losses	(23)	(6)
Debt securities, Allowance for Credit Losses	0	0
Debt securities, Estimated Fair Values	16,398	29,015
Money market funds
Marketable Securities [Line Items]
Equity securities, Cost	4,333	4,107
Equity securities, Gross Unrealized Gains	0	0
Equity securities, Gross Unrealized Losses	0	0
Equity securities, Allowance for Credit Losses	0	0
Equity securities, Estimated Fair Values	4,333	4,107
Cash and cash equivalents
Marketable Securities [Line Items]
Marketable securities, Estimated Fair Values	10,019	$ 33,122
Available-for-sale debt securities
Marketable Securities [Line Items]
Marketable securities, Estimated Fair Values	$ 23,841

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Schedule Of Investments [Line Items]
Cash, cash equivalents and short -term investments	$ 60,500,000	$ 60,500,000	$ 114,600,000
Impairment charges related to marketable debt securities	0	0
Operating Accounts
Schedule Of Investments [Line Items]
Cash, cash equivalents and short -term investments	$ 50,500,000	$ 50,500,000	$ 81,500,000

Financial Instruments - Fair Va

Financial Instruments - Fair Value and Gross Unrealized Losses Related to Individual Available-for-Sale Debt Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	$ 29,527
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	(43)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Gross Unrealized Losses	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	29,527
Available-for-sale Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses	(43)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Cash and Cash Equivalents	5,686
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, AFS Debt Securities	23,841
Municipal Bonds and Notes
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	1,829
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	(7)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Gross Unrealized Losses	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	1,829
Available-for-sale Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses	(7)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Cash and Cash Equivalents	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, AFS Debt Securities	1,829
Treasury and agency notes and bills
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	11,300
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	(13)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Gross Unrealized Losses	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	11,300
Available-for-sale Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses	(13)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Cash and Cash Equivalents	1,398
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, AFS Debt Securities	9,902
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	16,398	$ 29,015
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	(23)	(6)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Fair Value	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or more, Gross Unrealized Losses	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	16,398	29,015
Available-for-sale Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses	(23)	(6)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Cash and Cash Equivalents	4,288	29,015
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, AFS Debt Securities	$ 12,110	$ 0

Financial Instruments - Estimat

Financial Instruments - Estimated Fair Value of Marketable Debt Securities by Contractual Maturity (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Due in one year or less	$ 29,527

Fair Value - Schedule of Fair V

Fair Value - Schedule of Fair Value Assets Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 33,860	$ 33,122
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,333	4,107
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	29,527	29,015
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,333	4,107
Money market funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,333	4,107
Money market funds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Money market funds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Municipal bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,829
Municipal bonds and notes | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0
Municipal bonds and notes | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,829
Municipal bonds and notes | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0
Treasury and agency notes and bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	11,300
Treasury and agency notes and bills | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0
Treasury and agency notes and bills | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	11,300
Treasury and agency notes and bills | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,398	29,015
Commercial paper | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Commercial paper | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,398	29,015
Commercial paper | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0

Fair Value - Schedule of Carryi

Fair Value - Schedule of Carrying Amounts and Estimated Fair Values (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total long-term debt, net - Carrying Amount	$ 627,882	$ 729,393
Recurring
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total long-term debt, net - Carrying Amount	627,882	729,393
Total long-term debt, net - Estimated Fair Value	623,958	700,217
Recurring | Refinanced Term B Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total long-term debt, net - Carrying Amount	627,882	729,393
Total long-term debt, net - Estimated Fair Value	$ 623,958	$ 700,217

Fair Value - Schedule of Carr_2

Fair Value - Schedule of Carrying Amounts and Estimated Fair Values (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unamortized debt discount and issuance costs	$ 17,618	$ 19,857
Term B Loan Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unamortized debt discount and issuance costs	$ 17,600	$ 19,900

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) $ in Millions		3 Months Ended		6 Months Ended		9 Months Ended	42 Months Ended
	Oct. 01, 2022 NumberOfShare	Dec. 31, 2022 Segment	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Segment	Jun. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Distribution of outstanding shares, percentage	100%
Stockholder of record received shares	4
Number of each shares of common stock held on record date | NumberOfShare	10
Number of principal businesses segment | Segment		1		1
Separation costs			$ 3		$ 5.8	$ 28.6	$ 43.7
Operating Expenses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Separation costs				$ 15.1

Discontinued Operations - Summa

Discontinued Operations - Summary of Financial Results (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Operating expenses:
Net loss from discontinued operations, net of tax	$ (21,633)	$ (53,502)
Net loss attributable to discontinued operations	(20,785)	(51,686)
Xperi Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	126,203	245,091
Operating expenses:
Cost of revenue	26,879	54,286
Research and development	51,368	101,607
Selling, general and administrative	37,633	74,329
Depreciation expense	5,115	10,678
Amortization expense	14,760	29,553
Litigation expense	319	994
Total operating expenses	136,074	271,447
Operating loss	(9,871)	(26,356)
Other income and expense, net	(176)	456
Loss before taxes	(10,047)	(25,900)
Provision for income taxes	11,586	27,602
Net loss from discontinued operations, net of tax	(21,633)	(53,502)
Less: net loss attributable to noncontrolling interest	(848)	(1,816)
Net loss attributable to discontinued operations	$ (20,785)	$ (51,686)

Discontinued Operations - Sum_2

Discontinued Operations - Summary Selected Financial Information Related to Cash Flows (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash from operating activities	$ (2,919)
Net cash from investing activities	$ (8,415)

Goodwill and Identified Intan_3

Goodwill and Identified Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill	$ 313,660,000	$ 313,660,000	$ 313,660,000
Changes in carrying value of goodwill		0
Impairment charges	$ 0	$ 0

Goodwill and Identified Intan_4

Goodwill and Identified Intangible Assets - Identified Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 841,904	$ 841,809
Finite-lived intangible assets, Accumulated Amortization	(456,672)	(409,333)
Finite-lived intangible assets, Net	385,232	432,476
Acquired patents / core technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	646,023	645,928
Finite-lived intangible assets, Accumulated Amortization	(296,695)	(270,275)
Finite-lived intangible assets, Net	$ 349,328	375,653
Acquired patents / core technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	3 years
Acquired patents / core technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years
Existing technology / content database
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 38,681	38,681
Finite-lived intangible assets, Accumulated Amortization	(38,164)	(36,614)
Finite-lived intangible assets, Net	$ 517	2,067
Existing technology / content database | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	5 years
Existing technology / content database | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years
Customer contracts and related relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 155,900	155,900
Finite-lived intangible assets, Accumulated Amortization	(120,540)	(101,252)
Finite-lived intangible assets, Net	$ 35,360	54,648
Customer contracts and related relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	3 years
Customer contracts and related relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	9 years
Trademarks/trade name
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 1,300	1,300
Finite-lived intangible assets, Accumulated Amortization	(1,273)	(1,192)
Finite-lived intangible assets, Net	$ 27	$ 108
Trademarks/trade name | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	4 years
Trademarks/trade name | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years

Goodwill and Identified Intan_5

Goodwill and Identified Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining 6 months)	$ 46,210
2024	68,821
2025	52,743
2026	52,609
2027	52,258
Thereafter	112,591
Finite-lived intangible assets, Net	$ 385,232	$ 432,476

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Amounts of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Line Of Credit Facility [Line Items]
Long-term debt, Gross	$ 645,500
Unamortized debt discount and issuance costs	(17,618)	$ (19,857)
Long-term debt	627,882	729,393
Less: current portion, net of debt discount and issuance costs	(36,400)	(109,813)
Long-term debt, net	591,482	619,580
Refinanced Term B Loans
Line Of Credit Facility [Line Items]
Long-term debt, Gross	$ 645,500	$ 749,250

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)			3 Months Ended		6 Months Ended
	Jun. 08, 2021	Jun. 01, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Line Of Credit Facility [Line Items]
Voluntary prepayment against the term loan					$ 103,750,000	$ 20,250,000
Unamortized debt discount and issuance costs			$ 17,618,000		17,618,000		$ 19,857,000
Additional cash payment under excess cash flow provision					73,500,000
Borrowings			627,882,000		627,882,000		$ 729,393,000
Interest expense			15,540,000	$ 9,440,000	31,478,000	17,869,000
Amortized costs			1,100,000	1,100,000	2,239,000	2,231,000
2020 Term B Loan Facility
Line Of Credit Facility [Line Items]
Loan facility, term		5 years
Borrowing capacity		$ 1,050,000,000
Refinanced Term B Loans
Line Of Credit Facility [Line Items]
Borrowing capacity			$ 810,000,000		$ 810,000,000
Voluntary prepayment against the term loan	$ 50,600,000
Debt instrument, prepayment premium					1%
Debt instrument, maturity date					Jun. 08, 2028
Interest rate			9.58%		9.58%
Interest expense			$ 15,400,000	$ 9,400,000	$ 31,300,000	$ 17,900,000
Refinanced Term B Loans | Base Rate
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate					2.50%
Refinanced Term B Loans | Eurodollar, London Interbank Offered Rate (LIBOR)
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate					3.50%
2021 Convertible Notes
Line Of Credit Facility [Line Items]
Unamortized debt discount and issuance costs			17,600,000		$ 17,600,000
Borrowings			$ 645,500,000		$ 645,500,000

Debt - Summary of Future Minimu

Debt - Summary of Future Minimum Principal Payments for Long-term Debt, Excluding Any Additional Payment Required by the Excess Cash Flow Provision (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
2023 (remaining 6 months)	$ 20,250
2024	40,500
2025	40,500
2026	40,500
2027	40,500
Thereafter	463,250
Total	$ 645,500

Net Income Per Share - Computat

Net Income Per Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income from continuing operations	$ 1,419	$ 15,160	$ 30,440	$ 71,005
Net loss attributable to discontinued operations		(20,785)		(51,686)
Net income (loss) attributable to the Company	$ 1,419	$ (5,625)	$ 30,440	$ 19,319
Denominator:
Weighted average shares of common stock outstanding	106,464	104,001	106,027	103,841
Add: Effect of dilutive securities associated with options		1		1
Add: Effect od dilutive securities associated with restricted stock awards and units	6,311	1,158	7,078	1,520
Weighted average common shares - dilutive	112,775	105,160	113,105	105,362
Basic net income (loss) per share
Net income from continuing operations	$ 0.01	$ 0.15	$ 0.29	$ 0.69
Net loss attributable to discontinued operations		(0.2)		(0.5)
Net income	0.01	(0.05)	0.29	0.19
Diluted net income (loss) per share
Net income from continuing operations	0.01	0.14	0.27	0.67
Net loss attributable to discontinued operations		(0.2)		(0.49)
Net income	$ 0.01	$ (0.06)	$ 0.27	$ 0.18
Anti-dilutive employee stock-based awards, excluded	1,816	7,900	613	3,800

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details)		3 Months Ended		6 Months Ended		37 Months Ended
	Apr. 29, 2022 shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Apr. 22, 2021 USD ($)	Jun. 12, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared, per share | $ / shares		$ 0.05	$ 0.1	$ 0.05	$ 0.1
Stock repurchase program, authorized amount | $							$ 100,000,000	$ 150,000,000
Treasury stock, total repurchase during period (in shares)						10,000,000
Treasury stock, average price of share repurchased (in dollars per share) | $ / shares						$ 17.24
Treasury stock, total cost of repurchased stock | $					$ 17,260,000	$ 172,200,000
Stock repurchase program, remaining amount available for repurchase | $		$ 77,800,000		$ 77,800,000		$ 77,800,000
Withholding taxes related to net share settlement of restricted awards		100,000	100,000	800,000	700,000
Tax withholding on restricted stock awards | $		$ 931,000	$ 400,000	$ 7,491,000	$ 11,500,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved for issuance	6,000,000
Expiration period				24 months
Shares reserved for grant (in shares)		5,400,000		5,400,000		5,400,000
Rolling expiration period				24 months
Maximum employee subscription rate		100%		100%		100%
Purchase price of common stock, percent				85%
Maximum employee subscription amount | $		$ 25,000		$ 25,000		$ 25,000
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance awards, percentage of grant available to vest				0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance awards, percentage of grant available to vest				200%
2020 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation full value awards counted against shares available for issuance ratio				1.5
Number of shares reserved for issuance		16,800,000		16,800,000		16,800,000
Additional shares reserved for issuance	8,800,000
Expiration period				10 years
Vesting period				4 years
2020 EIP | Time-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Assumed Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period				7 years
Vesting period				4 years
Assumed Plans | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
2020 EIP and Assumed Plans | Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for grant (in shares)		2,800,000		2,800,000		2,800,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Number of Shares Subject to Options
Number of Shares, Beginning balance (shares) | shares	364
Number of Shares, Options exercised (shares) | shares	(38)
Number of Shares, Options canceled / forfeited / expired (shares) | shares	(35)
Number of Shares, Ending balance (shares) | shares	291
Weighted Average Exercise Price Per Share
Weighted Average Exercise Price Per Share, Beginning balance (USD per share) | $ / shares	$ 13.06
Weighted Average Exercise Price Per Share, Options exercised (USD per share) | $ / shares	10.67
Weighted Average Exercise Price Per Share, Options canceled / forfeited / expired (USD per share) | $ / shares	11.29
Weighted Average Exercise Price Per Share, Ending balance (USD per share) | $ / shares	$ 13.58

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Restricted Stock Units (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Time-Based Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock awards and units, beginning balance (shares)	9,048
Restricted stock awards and units, granted (shares)	1,725
Restricted stock awards and units, vested / earned (shares)	(2,078)
Restricted stock awards and units, canceled / forfeited (shares)	(270)
Restricted stock awards and units, ending balance (shares)	8,425
Performance-Based Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock awards and units, beginning balance (shares)	1,525
Restricted stock awards and units, granted (shares)	731
Restricted stock awards and units, ending balance (shares)	2,256
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock awards and units, beginning balance (shares)	10,573
Restricted stock awards and units, granted (shares)	2,456
Restricted stock awards and units, vested / earned (shares)	(2,078)
Restricted stock awards and units, canceled / forfeited (shares)	(270)
Restricted stock awards and units, ending balance (shares)	10,681
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value per share of restricted stock and units, beginning balance (USD per share) | $ / shares	$ 10.48
Weighted average grant date fair value per share of restricted stock and units, granted (USD per share) | $ / shares	10.23
Weighted average grant date fair value per share of restricted stock and units, vested / earned (USD per share) | $ / shares	10.3
Weighted average grant date fair value of restricted stock and units, canceled / forfeited (USD per share) | $ / shares	9.79
Weighted average grant date fair value per share of restricted stock and units, ending balance (USD per share) | $ / shares	$ 10.47

Stock-Based Compensation Expe_3

Stock-Based Compensation Expense - Effect of Recording Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 4,556	$ 4,943	$ 8,196	$ 13,089
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	736	393	1,330	768
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 3,820	$ 4,550	$ 6,866	$ 12,321

Stock-Based Compensation Expe_4

Stock-Based Compensation Expense - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Mar. 01, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, options granted		0	0	0	0
Separation Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, accelerated vesting	372,244
Incremental stock-based compensation					$ 2.2

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Schedule of Assumptions Used to Value Awards Granted (Details)	1 Months Ended
	Jun. 30, 2023	May 31, 2023	Mar. 31, 2023	Jun. 30, 2022	Apr. 30, 2022	Mar. 31, 2022
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life (in years)	2 years					2 years
Risk-free interest rate	4.30%					1.30%
Dividend yield	2%					1.10%
Expected volatility	63.50%					48.50%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life (in years)		3 years	3 years	3 years	3 years
Risk-free interest rate		3.60%	4.50%	2.80%	2.80%
Dividend yield		2.30%	1.90%	1.20%	1.20%
Expected volatility		63.30%	68.50%	37.50%	40.90%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ 2,381	$ 10,552	$ 14,165	$ 16,069
U.S. federal tax rate			21%

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023
Lessee Lease Description [Line Items]
Operating lease existence of option to extend	true
Operating lease description	The Company’s leases have remaining lease terms of two to four years, some of which may include options to extend the leases for five years or longer, and some of which may include options to terminate the leases within the next five years or less. Leases with an initial term of 12 months or less are not recorded on the Condensed Consolidated Balance Sheets;
Minimum
Lessee Lease Description [Line Items]
Remaining lease term	2 years
Lessee term of period to extend	5 years
Maximum
Lessee Lease Description [Line Items]
Remaining lease term	4 years

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Fixed lease cost	$ 539	$ 562	$ 1,110	$ 1,066
Variable lease cost	146	68	297	287
Total operating lease cost	$ 685	$ 630	$ 1,407	$ 1,353

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 609	$ 574	$ 1,197	$ 1,124
Operating lease, ROU assets obtained in exchange for new lease liabilities				$ 1,153
Operating leases, weighted average remaining lease term (years)	2 years 8 months 19 days		2 years 8 months 19 days		3 years 2 months 8 days
Operating leases, weighted average discount rate	5.40%		5.40%		5.40%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments and Related Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating Lease Payments
2023 (remaining 6 months)	$ 1,236
2024	2,525
2025	1,975
2026	291
2027	299
Total lease payments	6,326
Less: imputed interest	(441)
Present value of lease liabilities:	5,885
Current portion of operating lease liabilities	2,230	$ 2,108
Noncurrent operating lease liabilities	$ 3,655	$ 4,794

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Oct. 01, 2022
Commitments And Contingencies Disclosure [Line Items]
Total purchase commitments	$ 3.3	$ 3.3
Purchase commitments remainder of 2023	1.1	1.1
Purchase commitments due in 2024	1.3	1.3
Purchase commitments due in 2025	0.9	0.9
Guarantee liability	19.1	19.1	$ 20.5
Maximum potential amount of future payments subject to guarantee	7.5	$ 7.5
Guarantor obligations potential amount of future payments start year		2023
Guarantor obligations potential amount of future payments end year		2031
Guarantee Payment	0.6	$ 1.1
Other income		0.3
Accrued estimated expense reimbursement	$ 2.6	$ 2.6	$ 2.5
Cross Business Agreement
Commitments And Contingencies Disclosure [Line Items]
Guarantee liability				$ 19.7

Segment and Geographic Inform_3

Segment and Geographic Information - Additional Information (Details)	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2023 Customer	Dec. 31, 2022 Segment	Jun. 30, 2022 Customer	Jun. 30, 2023 Customer Segment	Jun. 30, 2022 Customer	Dec. 31, 2022
Segment Reporting Information [Line Items]
Number of principal businesses segment | Segment		1		1
Number of customers more than 10% of revenue | Customer	3		2	3	3
Customer One | Accounts Receivable | Credit Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage (or more)				54%		36%
Customer Two | Accounts Receivable | Credit Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage (or more)						29%

Segment and Geographic Inform_4

Segment and Geographic Information - Schedule of Geographic Revenue Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Foreign revenues	$ 83,217	$ 107,815	$ 200,524	$ 246,347
Total Revenue | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	100%	100%	100%	100%
U.S. and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Foreign revenues	$ 73,223	$ 100,111	$ 159,308	$ 231,051
U.S. and Canada | Total Revenue | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	88%	93%	80%	94%
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Foreign revenues	$ 7,363	$ 5,690	$ 35,983	$ 11,419
Asia | Total Revenue | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	9%	5%	18%	5%
Europe and Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Foreign revenues	$ 2,195	$ 1,490	$ 4,383	$ 2,842
Europe and Middle East | Total Revenue | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	3%	2%	2%	1%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Foreign revenues	$ 436	$ 524	$ 850	$ 1,035

Segment and Geographic Inform_5

Segment and Geographic Information - Schedule of Summary of Customers Comprising 10% or More of Total Revenues (Details) - Sales Revenue Net - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Customer A
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	20.70%	15.90%	17.10%	14%
Customer B
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	13.30%		11.10%
Customer C
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	10.40%
Customer D
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)		26%		11.40%
Customer E
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)			10.40%
Customer F
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)				23%

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - $ / shares		3 Months Ended		6 Months Ended
	Jul. 27, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Subsequent Event [Line Items]
Dividends payable per share		$ 0.05	$ 0.1	$ 0.05	$ 0.1
Subsequent Event
Subsequent Event [Line Items]
Dividends declaration date	Jul. 27, 2023
Dividends payable per share	$ 0.05
Dividends payable date	Sep. 18, 2023
Dividends record date	Aug. 28, 2023