Xperi Inc. (NYSE:XPER) Q3 2023 Earnings Call Transcript November 13, 2023 5:00 PM ET

Company Participants

Michael Iburg - VP, IR

Jon Kirchner - President, CEO & Director

Robert Andersen - CFO

Conference Call Participants

Jason Kreyer - Craig-Hallum

Steven Frankel - Rosenblatt Securities

Nicholas Zangler - Stephens Inc.

Hamed Khorsand - BWS Financial

Matthew Galinko - Maxim Group

Operator

Good day, everyone. Thank you for standing by. Welcome to the Xperi Third 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 opened for questions. [Operator Instructions]

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

Michael Iburg

Thanks, operator. Good afternoon, and thank you for joining us as Xperi reports its third quarter 2023 financial results. With me on today's call are Jon Kirchner, Chief Executive Officer; and Robert Anderson, Chief Financial Officer. In addition to today's earnings release, there is an earnings presentation, which you can access along with a webcast of this call on our Investor Relations website at investor.xperi.com.

Before we begin, I'd like to provide a few reminders. First, I'd like to note that, unless otherwise stated, all comparisons are to the same quarter of the prior year. In addition, the third quarter of 2022 was calculated on a carve-out basis prior to Xperi seperation from Xperi Holding Corporation on October 1, 2022. Xperi Holding Corporation is now known as Adeia.

Second, today's discussion contains forward-looking statements that are predictions, projections or 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-Q.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 their most directly comparable GAAP measures. Which can be found in the Investor Relations section of 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.