Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

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Equity Bottom-Up

<ul>
<li>XPER made further progress on product placement in the first quarter contributing to expecting revenue acceleration heading into the second half of 2024.</li>
<li>XPER reported first quarter results that included the announcement of a new Japanese TV brand that would begin using TiVo in a line of its TVs</li>
<li>Over the last couple of quarters XPER has announced several wins for its connected car and media platform segments. These wins have developed into revenue for XPER</li>
</ul>


XPER made further progress on product placement in the first quarter contributing to expecting revenue acceleration heading into the second half of 2024.
XPER reported first quarter results that included the announcement of a new Japanese TV brand that would begin using TiVo in a line of its TVs
Over the last couple of quarters XPER has announced several wins for its connected car and media platform segments. These wins have developed into revenue for XPER


<ul>
<li>XPER reported first quarter results setting the path for the Company to generate approximately $200 million in free cash flow in 2022</li>
<li>The outperformance on the revenue line resulted in XPER exceeding our non-GAAP net income and EPS estimates</li>
<li>During the first quarter of 2022, XPER renewed a license with a virtual multichannel video programming distributor (“MVPD”)</li>
</ul>


XPER reported first quarter results setting the path for the Company to generate approximately $200 million in free cash flow in 2022
The outperformance on the revenue line resulted in XPER exceeding our non-GAAP net income and EPS estimates
During the first quarter of 2022, XPER renewed a license with a virtual multichannel video programming distributor (“MVPD”)


<ul>
<li>XPER reported fourth quarter results mostly in line with our estimates, but the progress made on each of its product lines is the highlight of the report</li>
<li>XPER has added customers for its TV operating system (“TVOS”), IPTV solution, connected car, and has grown the number of people using its media platform</li>
<li>The increase in the number of automobile OEMs electing to use AutoStage is on the rise with XPER’s CEO setting the goal of one video integration win this year</li>
</ul>


XPER reported fourth quarter results mostly in line with our estimates, but the progress made on each of its product lines is the highlight of the report
XPER has added customers for its TV operating system (“TVOS”), IPTV solution, connected car, and has grown the number of people using its media platform
The increase in the number of automobile OEMs electing to use AutoStage is on the rise with XPER’s CEO setting the goal of one video integration win this year


<ul>
<li>XPER is gaining momentum within the car and TV, setting up the potential for the second half of the year outperforming expectations.</li>
<li>The additional customer wins are poised to put XPER on pace to grow adjusted EBITDA over 2023 levels. Additionally, these wins could be large enough to generate broader interest.</li>
<li>During CES, XPER announced new design win at Argos, a United Kingdom based brand, and disclosed Konka, a Chinese TV maker, was the previously unnamed third TVOS partner</li>
</ul>


XPER is gaining momentum within the car and TV, setting up the potential for the second half of the year outperforming expectations.
The additional customer wins are poised to put XPER on pace to grow adjusted EBITDA over 2023 levels. Additionally, these wins could be large enough to generate broader interest.
During CES, XPER announced new design win at Argos, a United Kingdom based brand, and disclosed Konka, a Chinese TV maker, was the previously unnamed third TVOS partner


<ul>
<li>XPER held an investor day to highlight the two businesses XPER would separate into on October 1, 2022.</li>
<li>The expectation is the two companies operating separately would be able to grow faster without worries over customer relationship to the other segment.</li>
<li>Xperi has been the underpinning of our investment thesis due to the investments the Company has made in different products and customer engagements.</li>
</ul>


XPER held an investor day to highlight the two businesses XPER would separate into on October 1, 2022.
The expectation is the two companies operating separately would be able to grow faster without worries over customer relationship to the other segment.
Xperi has been the underpinning of our investment thesis due to the investments the Company has made in different products and customer engagements.


United States

Xperi Holding Corp creates, develops, and licenses audio, computational imaging, computer vision and semiconductor packaging and interconnect technologies. The Company offers its products and solutions to mobile, home, datacenter, and automotive industries.

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Xperi (XPER US)

XPER: Design Wins into Revenue

XPER continues to win more TV makers with the news a Japanese brand will be launching using TiVo. Additionally, Hyundai and Genesis have made HD...

BWS Financial Inc

XPER: Streaming Free Cash Flow

XPER is lining up a year where free cash flow could be approximately $200 million without a turnaround in supply constraints for the automobile and...

BWS Financial Inc

XPER: Streaming Execution

XPER continues to show progress in adding new customers and moving further into reaching profitability. The increase in the number of customers...

BWS Financial Inc

XPER: More Wins from CES

XPER has garnered wider support from TV makers for the Company's TV operating system. This should lead to more potential partners as TV makers look...

BWS Financial Inc

XPER: Unlocking Value Thru Separation

The separation of the product business from the IP business should unlock value compared to the combined company. Xperi is expected to grow the...

BWS Financial Inc

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