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Quarterly Results Of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results Of Operations (Unaudited)

NOTE 21 – QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth the Company's unaudited quarterly Consolidated Statements of Operations for each of the quarters indicated and has been retrospectively adjusted to reflect Xperi Inc.'s historical financial results as discontinued operations. The information for each quarter has been derived from the Company's unaudited condensed consolidated financial statements and has been prepared on a basis consistent with these audited consolidated financial statements, and reflect, in the opinion of management, all adjustments of a normal, recurring nature that are necessary for a fair presentation of the financial information contained in those statements. The following quarterly financial data should be read in conjunction with our consolidated financial statements (in thousands, except per share amounts):

 

 

 

Three Months Ended

 

 

 

Dec 31, 2022

 

 

Sep 30, 2022

 

 

Jun 30, 2022

 

 

Mar 31, 2022

 

 

Dec 31, 2021

 

 

Sep 30, 2021

 

 

Jun 30, 2021

 

 

Mar 31, 2021

 

Revenue

 

$

103,290

 

 

$

89,296

 

 

$

107,815

 

 

$

138,532

 

 

$

89,705

 

 

$

101,647

 

 

$

101,846

 

 

$

98,014

 

Total operating expenses

 

 

70,047

 

 

 

73,654

 

 

 

73,094

 

 

 

69,078

 

 

 

72,738

 

 

 

64,160

 

 

 

70,385

 

 

 

64,901

 

Operating income from continuing operations

 

 

33,243

 

 

 

15,642

 

 

 

34,721

 

 

 

69,454

 

 

 

16,967

 

 

 

37,487

 

 

 

31,461

 

 

 

33,113

 

Income from continuing operations before income taxes

 

 

18,640

 

 

 

4,058

 

 

 

25,712

 

 

 

61,362

 

 

 

7,354

 

 

 

29,249

 

 

 

13,564

 

 

 

22,644

 

Provision for (benefit from) income taxes

 

 

(55,090

)

 

 

10,401

 

 

 

10,552

 

 

 

5,517

 

 

 

(11,314

)

 

 

8,676

 

 

 

(387

)

 

 

7,853

 

Net income from continuing operations

 

 

73,730

 

 

 

(6,343

)

 

 

15,160

 

 

 

55,845

 

 

 

18,668

 

 

 

20,573

 

 

 

13,951

 

 

 

14,791

 

Net loss attributable to discontinued operations, net of tax

 

 

—

 

 

 

(382,585

)

 

 

(20,785

)

 

 

(30,902

)

 

 

(33,227

)

 

 

(65,640

)

 

 

(15,069

)

 

 

(9,504

)

Net income (loss) attributable to the Company

 

$

73,730

 

 

$

(388,928

)

 

$

(5,625

)

 

$

24,943

 

 

$

(14,559

)

 

$

(45,067

)

 

$

(1,118

)

 

$

5,287

 

Income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.70

 

 

$

(0.06

)

 

$

0.15

 

 

$

0.54

 

 

$

0.18

 

 

$

0.20

 

 

$

0.13

 

 

$

0.14

 

Discontinued operations

 

 

—

 

 

 

(3.66

)

 

 

(0.20

)

 

 

(0.30

)

 

 

(0.32

)

 

 

(0.63

)

 

 

(0.14

)

 

 

(0.09

)

Net income (loss)

 

$

0.70

 

 

$

(3.72

)

 

$

(0.05

)

 

$

0.24

 

 

$

(0.14

)

 

$

(0.43

)

 

$

(0.01

)

 

$

0.05

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.65

 

 

$

(0.06

)

 

$

0.14

 

 

$

0.53

 

 

$

0.18

 

 

$

0.19

 

 

$

0.13

 

 

$

0.14

 

Discontinued operations

 

 

—

 

 

 

(3.61

)

 

 

(0.20

)

 

 

(0.29

)

 

 

(0.31

)

 

 

(0.61

)

 

 

(0.14

)

 

 

(0.09

)

Net income (loss)

 

$

0.65

 

 

$

(3.67

)

 

$

(0.06

)

 

$

0.24

 

 

$

(0.13

)

 

$

(0.42

)

 

$

(0.01

)

 

$

0.05

 

Weighted average number of shares-basic

 

 

105,135

 

 

 

104,510

 

 

 

104,001

 

 

 

103,679

 

 

 

104,249

 

 

 

104,849

 

 

 

104,906

 

 

 

104,940

 

Weighted average number of shares-diluted

 

 

113,392

 

 

 

105,850

 

 

 

105,160

 

 

 

105,332

 

 

 

105,915

 

 

 

106,910

 

 

 

107,267

 

 

 

107,776