Xperi Inc. (NYSE:XPER) Q4 2023 Earnings Conference Call February 28, 2024 5:00 PM ET

Company Participants

Mike Iburg - Head, Investor Relations

Jon Kirchner - Chief Executive Officer

Robert Anderson - Chief Financial Officer

Conference Call Participants

Jason Kreyer - Craig-Hallum

Hamed Khorsand - BWS Financial

Operator

Good day, everyone. Thank you for standing by. Welcome to the Xperi Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Mike Iburg, Xperi Head of Investor Relations. Please go ahead.

Mike Iburg

Thank you, Jon. Good afternoon and thank you for joining us as Xperi reports its fourth quarter and full year 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 this webcast on our Investor Relations website at investor.xperi.com.

Before we begin, I’d like to provide a few reminders. First, I would like to note that unless otherwise stated, all quarterly comparisons are to the same quarter in the prior year. In addition, the first three quarters of 2022 were calculated on a carve-out basis prior to Xperi separation from Xperi Holding Corporation on October 1, 2022. Xperi Holding Corporation is now known as Adeia. As a result, all full year comparisons will be to carve-out financials in the prior year.

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 discussed today, please refer to the risk factors and MD&A section of our SEC filings, including our most recent Form 10-K and 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. With that, I would now like to turn the call over to Xperi’s CEO, Jon Kirchner.