ADEIA CORP

Adeia reported second-quarter 2026 revenue of $96.1 million and raised its long-term annual revenue target to $600 million from $500 million, driven by accelerating hybrid bonding adoption in the semiconductor market. The company doubled its semiconductor revenue goal to $200 million annually, citing a new super cycle fueled by AI infrastructure, while keeping its media revenue target at $400 million. Non-Pay-TV recurring revenue grew 54% year over year and is now nearly double the size of Pay-TV recurring revenue. Adeia signed six license agreements in the quarter, including a multiyear renewal with Google and a deal with RPX covering 10 e-commerce customers. Full-year 2026 revenue guidance was reiterated at $395 million to $435 million, and the company generated $54.6 million in cash from operations.

Adeia Inc. reported second-quarter 2026 revenue of $96.1 million and raised its long-term annual revenue outlook to $600 million from $500 million, driven by confidence that its semiconductor business can reach $200 million in annual revenue. The company signed a multi-year license renewal with Google that includes YouTube TV, one of the largest Pay-TV providers, and a multi-year agreement with RPX covering 10 new e-commerce customers. GAAP net income was $17.4 million, or $0.15 per diluted share, while non-GAAP diluted EPS was $0.34 and adjusted EBITDA reached $56.4 million. Adeia also reiterated its full-year 2026 revenue guidance of $395 million to $435 million and paid down $6.1 million on its term loan while repurchasing $10 million of common stock.

Adeia Inc. benefited from recent licensing successes, according to Meridian Contrarian Fund's first-quarter 2026 investor letter. The fund highlighted Adeia as a leading contributor, noting that shares rallied after the intellectual property licensing company announced several key licensing renewals and new agreements with large streaming and pay TV providers, and signed a key license with AMD. The fund initially invested in 2023 after Adeia was spun out from a larger company, seeing promise that its intellectual property was needed by semiconductor companies to enable high-intensity computing for AI. While the fund trimmed its position modestly into strength, it continues to see an attractive risk/reward profile given Adeia's high-margin, recurring revenue model and potential for additional upside from incremental licensing wins. As of June 26, 2026, Adeia's stock closed at $30.82 per share, with a market capitalization of $3.48 billion, a one-month return of 6.96%, and a 116.41% gain over the past 52 weeks.

Adeia Inc, a patent licensing company, ranks ninth in Donald Trump’s 2026 portfolio of AI and tech stock picks. The stock has gained 55 percent since the trade date. Adeia holds about 14,000 patents covering semiconductors, memory chips, and media streaming, with customers including Disney, Microsoft, and AMD. The global intellectual property licensing market is projected to grow from 13.9 billion dollars in 2024 to 21.6 billion dollars by 2030, a 7.5 percent annual rate, driven by AI and semiconductor innovation. Riverwater Partners Sustainable Value Strategy initiated a position in Adeia during the fourth quarter of 2025.