Adeia Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. The company achieved record post-separation revenue and cash from operations in the fourth quarter, driven by strong deal momentum. Adeia signed 10 deals in Q4, bringing the total to 32 deals for the full year, including four new customer agreements with Amazon, Canon, and a luxury retailer e-commerce customer.
The company reported a best-in-class operating margin of 67% for the fourth quarter. Adeia continued its balanced capital allocation approach, making $50.0 million in principal payments towards its term loan B, reducing the outstanding balance to $487.1 million. Additionally, the company repurchased $20.0 million of its common stock, representing over 1.4 million shares, with $180.0 million remaining under its repurchase plan.
For the full year 2024, Adeia grew its total patent portfolio by an impressive 12% year-over-year, ending with over 12,000 total patent assets. This growth was fueled by R&D efforts focused on innovations for generative AI, disruptive technologies for adjacent media markets, and emerging technologies for the semiconductor industry. The company maintained its quarterly dividend program, declaring a $0.05 per share dividend payable on March 31, 2025.
Adeia reiterated its full-year 2025 revenue outlook in the range of $390 million to $430 million. Management expressed confidence in adding new customers in target growth markets while maintaining a high renewal rate in core markets. The strong operational execution and financial performance in 2024 provide a solid foundation for continued growth in 2025.
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