Xperi Holding Boosts FY22 Revenues Outlook
(RTTNews) - Xperi Holding Corp. (XPER) announced Thursday a $10 million increase in both its annual revenue and operating cash flow guidance for 2022, primarily due to a recently resolved contract dispute with a customer.
For fiscal 2022, the company now projects revenue in a range of $920 million to $960 million, up from the prior guidance range between $920 million and $950 million. Operating cash flow is now seen between $210 million and $240 million, up from the prior guidance range between $200 million and $230 million.
On average, analysts polled by Thomson Reuters expect the company to report revenues of $927.75 million for the year.
The Company's FotoNation subsidiary filed a request for arbitration in January 2020 against a large mobile imaging customer for breach of contract. In settling the arbitration, Xperi entered into an agreement that resolves all outstanding disputes, provides an upfront payment to Xperi for past licensing fees and requires additional license fees and payments to Xperi over the next few years.
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