Xperi Inc. (NYSE:XPER) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET

Company Participants

Mike Iburg - Head-Investor Relations

Jon Kirchner - Chief Executive Officer

Robert Andersen - Chief Financial Officer

Conference Call Participants

Hamed Khorsand - BWS Financial

Jason Kreyer - Craig-Hallum

Nick Zangler - Stephens

Operator

Good day, everyone. Thank you for standing by. Welcome to Xperi First Quarter 2023 Earnings Conference Call. During today’s presentation, all parties will be in a listen only mode. Following the presentation, the call will be open for questions.

I would now like to turn the call over to Mike Iburg, Xperi's Head of Investor Relations. Mike, please go ahead.

Mike Iburg

Good afternoon. And thank you for joining us as Xperi reports its first quarter 2023 financial results. With me on today’s call are Jon Kirchner, Chief Executive Officer; and Robert Andersen, Chief Financial Officer.

In addition to today's earnings release, there is an earnings presentation, which can be accessed along with this webcast on our Investor Relations website at investor.xperi.com. Before we begin, I would like to provide a few reminders. First, I would like to note that unless otherwise stated, all comparisons are to the same quarter in the prior year. In addition, the first quarter of 2022 was calculated on a carve-out basis prior to experience separation from Xperi Holding Corporation on October 1, 2022. Xperi Holding Corporation is now known as Adeia Inc.

Second, today's discussion contains forward-looking statements that are predictions, projections and other statements about future events which are based on management's current expectations and beliefs and therefore, subject to risks, uncertainties and changes in circumstances. For more information on the risks and uncertainties that could cause our actual results to differ materially from what we discuss today, please refer to the Risk Factors and MD&A section in our SEC filings, including our most recent Form 10-K.

Please note that the company does not intend to update or alter these forward-looking statements to reflect events or circumstances arising after this call. Third, we refer to certain non-GAAP financial measures, which are detailed in the earnings release and accompanied by reconciliations to the most directly comparable GAAP measures, which can be found in the Investor Relations section on our website, Lastly, a replay of this conference call will be available on our website shortly after the conclusion of this call.

I will now turn the call over to Xperi's CEO, Jon Kirchner