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Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 8,382	$ 1,419	$ 9,281	$ 30,440

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

NOTE 8 – DEBT

The outstanding amounts of debt were as follows (in thousands):


	June 30, 2024			December 31, 2023
2021 Refinanced Term Loan B		—		$	601,250
2024 Term Loan B	$	549,111			—
Unamortized debt discount and issuance costs		(13,501	)		(15,555	)
		535,610			585,695
Less: current portion, net of debt discount and issuance costs		(24,753	)		(66,145	)
Total long-term debt, net of current portion	$	510,857		$	519,550

Term Loan B

On June 8, 2021, the Company entered into Amendment No. 1 (“Amendment No. 1”) to that certain Credit Agreement dated June 1, 2020 by and among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent (the “2020 Credit Agreement”). The 2020 Credit Agreement initially provided for a five-year senior secured term loan B facility in an aggregate principal amount of $1,050 million (the “2020 Term Loan B Facility”). In connection with Amendment No. 1, the Company made a voluntary prepayment of $50.6 million of the term loan outstanding under the 2020 Credit Agreement using cash on hand. Amendment No. 1 provided for, among other things, (i) a new tranche of term loans (the “2021 Refinanced Term Loan B”) in an aggregate principal amount of $810.0 million, (ii) a reduction of the interest rate margin applicable to such loans to (x) in the case of base rate loans, 2.50% per annum and (y) in the case of Eurodollar loans, LIBOR plus a margin of 3.50% per annum, (iii) a prepayment premium of 1.00% in connection with any repricing transaction with respect to the 2021 Refinanced Term Loan B within six months of the closing date of Amendment No. 1, (iv) an extension of the maturity to June 8, 2028, and (v) certain additional amendments, including amendments to provide the Company with additional flexibility under the covenant governing restricted payments.

On May 30, 2023, the Company entered into Amendment No. 2 (“Amendment No. 2”) to the 2020 Credit Agreement, to replace the reference to LIBOR as the base rate with the reference to the Secured Overnight Financing Rate “SOFR” as administered by the Federal Reserve Bank of New York. The new reference rate was effective July 1, 2023.

On May 20, 2024, the Company entered into Amendment No. 3 (“Amendment No. 3”) to the 2020 Credit Agreement, which provided for, among other things, (i) a repricing of the 2020 Term Loan B Facility through a refinancing of the entire amount of the 2021 Refinanced Term Loan B with a new tranche of term loans (the “2024 Term Loan B”) in an aggregate principal amount of $561.1 million, (ii) a reduction of the interest rate margin applicable to such loans to (x) in the case of SOFR loans,

SOFR plus a margin of 3.00% per annum and (y) in the case of base rate loans, 2.00% per annum, (iii) a reduction in the excess cash flow mandatory payment thresholds and (iv) a prepayment premium of 1.00% in connection with any repricing transaction with respect to the 2024 Term Loan B within six months of the closing date of Amendment No. 3. The 2024 Term Loan B will mature on June 8, 2028, the same date upon which the 2021 Refinanced Term Loan B matured prior to giving effect to Amendment No. 3.

The obligations under the 2020 Credit Agreement, inclusive of any changes by Amendment No. 1, Amendment No. 2 and Amendment No. 3, continue to be guaranteed by the Company’s wholly-owned material domestic subsidiaries (collectively, the “Guarantors”) and continue to be secured by a lien on substantially all of the assets of the Company and the Guarantors.

The 2020 Credit Agreement, as amended, contains customary events of default, upon the occurrence of which, after any applicable cure period, the lenders will have the ability to accelerate all outstanding loans thereunder. The 2020 Credit Agreement, as amended, also contains customary representations and warranties and affirmative and negative covenants that, among other things and subject to certain exceptions, restrict the ability of the Company and its subsidiaries to create or incur certain liens, incur or guarantee additional indebtedness, merge or consolidate with other companies, transfer or sell assets and make restricted payments. The Separation did not require the Company to obtain any waivers under the 2020 Credit Agreement, and the Company completed the Separation in compliance with all of the covenants contained in the 2020 Credit Agreement. The 2020 Credit Agreement, as amended, requires the Company to maintain a total net leverage ratio of no greater than 3.00x in order access an annual basket from which to make restricted payments (such as dividend payments and share repurchases). The Company was in compliance with all requirements as of June 30, 2024. The 2020 Credit Agreement, as amended, also requires the Company to continue to make cash payments on an annual basis based on certain leverage ratios and excess cash flow generated for the immediately preceding fiscal year. The cash payments are applied to the remaining principal balance due at final maturity.

Interest Expense and Expected Principal Payments

At June 30, 2024, the Company had $549.1 million in total debt outstanding. There were also $13.5 million of unamortized debt discount and issuance costs recorded as a reduction from the carrying amount of the debt. The interest rate on the 2024 Term Loan B as of June 30, 2024, including the amortization of debt discount and issuance costs, was 9.6% and interest is payable monthly. Interest expense was $12.9 million and $25.4 million for the three and six months ended June 30, 2024, respectively. Interest expense was $15.4 million and $31.3 million for the three and six months ended June 30, 2023, respectively. Amortized debt discount and issuance costs, which were included in interest expense, amounted to $0.9 million and $1.6 million for the three and six months ended June 30, 2024, respectively, and $1.1 million and $2.2 million for the three and six months ended June 30, 2023, respectively.

As of June 30, 2024, future minimum principal payments for long-term debt, excluding any additional principal payment required by the excess cash flow provision, are summarized as follows (in thousands):


	Amounts
2024 (remaining 6 months)	$	14,028
2025		28,056
2026		28,056
2027		28,056
2028		450,915
Total	$	549,111

Fair Value - Schedule of Carrying Amounts and Estimated Fair Values (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unamortized debt discount and issuance costs	$ 13,501	$ 15,555
Term B Loan Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unamortized debt discount and issuance costs	$ 13,500	$ 15,600

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

Revenue - Additional Information (Details) $ in Thousands	6 Months Ended
Revenue - Additional Information (Details) $ in Thousands	Jun. 30, 2024 USD ($) RevenueModel	Dec. 31, 2023 USD ($)
Revenue Recognition [Line Items]
Number of revenue models used for company licenses \| RevenueModel	3
Accounts receivable allowance for credit losses \| $	$ 713	$ 1,463
Maximum
Revenue Recognition [Line Items]
Practical expedient, timing of revenue recognition differs from the timing of cash collection, period	1 year
Revenue recognition practical expedient amortization period	1 year
Practical expedient revenue expected to be recognized from unsatisfied performance obligations, duration	1 year

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 87,350	$ 83,217	$ 170,755	$ 200,524
Operating expenses:
Research and development	14,799	13,116	28,724	26,127
Selling, general and administrative	24,617	26,394	48,646	49,256
Amortization expense	20,030	23,650	43,187	47,339
Litigation expense	4,262	2,334	7,192	4,956
Total operating expenses	63,708	65,494	127,749	127,678
Operating income	23,642	17,723	43,006	72,846
Interest expense	(13,296)	(15,540)	(27,471)	(31,478)
Other income and expense, net	1,428	1,617	2,828	3,237
Loss on debt extinguishment	(453)	0	(453)	0
Income before income taxes	11,321	3,800	17,910	44,605
Provision for income taxes	2,939	2,381	8,629	14,165
Net income	$ 8,382	$ 1,419	$ 9,281	$ 30,440
Net income per share:
Basic	$ 0.08	$ 0.01	$ 0.09	$ 0.29
Diluted	$ 0.07	$ 0.01	$ 0.08	$ 0.27
Weighted average number of shares used in per share calculations
Basic	108,667	106,464	108,216	106,027
Diluted	112,536	112,775	112,757	113,105

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ 2,939	$ 2,381	$ 8,629	$ 14,165
U.S. federal tax rate			21.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Goodwill and Identified Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill	$ 313,660,000		$ 313,660,000		$ 313,660,000
Changes in carrying value of goodwill			0
Impairment charges	$ 0	$ 0	$ 0	$ 0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity

NOTE 10 – STOCKHOLDERS’ EQUITY

Equity Incentive Plans

The 2020 EIP

On June 1, 2020, the Company adopted the 2020 Equity Incentive Plan (the “2020 EIP”). Under the 2020 EIP, the Company may grant equity-based awards to employees, non-employee directors, and consultants for services rendered to the Company (or any parent or subsidiary) in the form of stock options, stock awards, restricted stock awards, restricted stock units, stock appreciation rights, dividend equivalents and performance awards (or any combination thereof).

At the Company’s 2024 Annual Stockholders Meeting on May 9, 2024, the Company’s stockholders approved an amendment and restatement of the 2020 EIP, which provided for (i) an increase of the number of shares reserved for issuance by 8,900,000 (from an initial share reserve of 16,800,000 under the prior 2020 EIP to 25,700,000 under the amended and restated 2020 EIP) and (ii) the removal of the “fungible share ratio” for future awards, such that all equity awards granted on or after May 9, 2024 will count on a one-to-one basis against the number of shares authorized for issuance under the 2020 EIP (whereas each share granted pursuant to “full value”

awards (i.e. stock awards, restricted stock awards, restricted stock units, performance awards and dividend equivalents) prior to May 9, 2024 are counted against shares available for issuance on a 1.5 to 1 ratio). As of June 30, 2024, there were approximately 8.1 million shares reserved for future grants under the 2020 EIP.

The 2020 EIP provides for option grants designed as either incentive stock options or non-statutory options. Options generally are granted with an exercise price not less than the value of the common stock on the grant date and have a term of ten years from the date of grant and vest over a four-year period.

The vesting criteria for restricted stock awards and restricted stock units is generally the passage of time or meeting certain performance-based objectives, and continued employment through the vesting period, which is generally four years for time-based awards.

Assumed Plans

On June 1, 2020, the Company assumed all then-outstanding stock options, awards, and shares available and reserved for issuance under all legacy Equity Incentive Plans of TiVo (collectively, the “Assumed Plans”). Stock options assumed from the Assumed Plans generally have vesting periods of four years and a contractual term of seven years. Awards of restricted stock and restricted stock units assumed from the Assumed Plans are generally subject to a four year vesting period. The Company has not issued any awards under these plans since the 2020 EIP was amended in 2022. The number of shares subject to stock options and restricted stock units outstanding under these plans are included in the tables below.

A summary of the stock option activity is presented below (in thousands, except per share amounts):


	Options Outstanding
	Number of Shares Subject to Options			Weighted Average Exercise Price Per Share
Balance at December 31, 2023		213		$	14.26
Options granted		—		$	—
Options exercised		(53	)	$	10.62
Options canceled / forfeited / expired		(27	)	$	12.39
Balance at June 30, 2024		133		$	16.04
Vested and exercisable at June 30, 2024		133		$	16.04

Restricted Stock Awards

Information with respect to outstanding restricted stock units (including both time-based vesting and performance-based vesting) as of June 30, 2024 is as follows (in thousands, except per share amounts):


	Restricted Stock Awards
	Number of Shares Subject to Time- based Vesting			Number of Shares Subject to Performance- based Vesting			Total Number of Shares			Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2023		7,591			1,781			9,372		$	10.44
Awards granted		2,124			945			3,069		$	12.04
Awards vested / earned		(2,089	)		—			(2,089	)	$	9.98
Awards canceled / forfeited		(463	)		(479	)		(942	)	$	13.31
Balance at June 30, 2024		7,163			2,247			9,410		$	10.79

Performance Awards

Performance awards may be granted to employees or consultants based upon, among other things, the contributions, responsibilities and other compensation of the particular employee or consultant. The value and the vesting of such performance awards are generally linked to one or more performance goals or certain market conditions determined by the Company, in each case on a specified date or dates or over any period or periods determined by the Company, and may range from zero to 200 percent of the grant. For performance awards subject to a market vesting condition (“market-based PSUs”), the fair value per award is fixed at the grant date and the amount of compensation expense is not adjusted during the performance period regardless of changes in the level of achievement of the market condition.

Employee Stock Purchase Plans

On June 1, 2020, the Company adopted the 2020 Employee Stock Purchase Plan (the “2020 ESPP”). The 2020 ESPP is implemented through consecutive overlapping 24-month offering periods, each of which is comprised of four six-month purchase periods. The first offering period commenced on September 1, 2020 and ended on August 31, 2022. Due to the Separation, the next offering period under the 2020 ESPP plan commenced on December 1, 2022. Each subsequent offering period under the 2020 ESPP will be twenty-four (24) months long and will commence on each December 1 with four six-month purchase periods. Participants may contribute up to 100% of their base earnings and commissions through payroll deductions, and the accumulated deductions will be applied to the purchase of shares on each semi-annual purchase date. The purchase price per share will equal 85% of the fair market value per share on the start date of the offering period or, if lower, 85% of the fair market value per share on the semi-annual purchase date.

An eligible employee’s right to buy the Company’s common stock under the 2020 ESPP may not accrue at a rate in excess of $25,000 of the fair market value of such shares per calendar year for each calendar year of an offering period. If the fair market value per share of the Company’s common stock on any purchase date during an offering period is less than the fair market value per share on the start date of the 24-month offering period, then that offering period will automatically terminate and a new 24-month offering period will begin on the next business day. All participants in the terminated offering will be transferred to the new offering period. Due to the fair market value per share of Company’s common stock on November 30, 2023 as compared to the fair market value per share on June 1, 2023, the offering period was automatically terminated and a new 24-month offering period began on December 1, 2023 and will end on November 30, 2025.

At the 2022 Annual Stockholders Meeting on April 29, 2022, the Company’s stockholders approved an amendment to the 2020 ESPP and increased by 6.0 million the number of shares reserved for issuance. As of June 30, 2024, there were approximately 5.2 million shares reserved for grant under the Company’s 2020 ESPP.

Modification of Equity Awards

In connection with the Separation and under the provisions of the existing plans described above, the Company’s outstanding stock options and equity awards were converted to units denominated in the equity of the Company, Xperi Inc., or both. The number of units and exercise prices of outstanding stock options and equity awards were converted based on the conversion ratios established in the Employee Matters Agreement that the Company entered into in connection with the Separation. The intent of the conversion ratios was to preserve the value of the awards immediately before and after the Separation. Upon the Separation, employees holding stock options and equity awards denominated in the Company’s pre-Separation stock received a number of otherwise-similar stock options and awards in post-Separation Company’s stock and/or Xperi Inc.’s stock based on the conversion ratios outlined for each group of employees. For purposes of the vesting of these equity awards, continued employment or service with the Company or with Xperi Inc. is treated as continued employment for purposes of both the Company’s and Xperi Inc.’s equity awards and the vesting terms of each converted grant remained unchanged. There were no changes to the plan terms described above with the exception that the price on the grant date, or October 1, 2022 was adjusted to exclude the value of Xperi Inc. based on the conversion ratios applied to other equity awards.

Dividends

Stockholders of the Company’s common stock are entitled to receive dividends when declared by the Company’s board of directors (the “Board”). During the period ended June 30, 2024 and 2023, quarterly dividends declared were $0.05 per common share, respectively. The capacity to pay dividends in the future depends on many factors, including the Company’s financial condition, results of operations, capital requirements, capital structure, industry practice and other business conditions that the Board considers relevant.

Stock Repurchase Programs

On June 12, 2020 the Board authorized a new stock repurchase program providing for the repurchase of up to $150.0 million of the Company’s Common Stock dependent on market conditions, share prices and other factors. On April 22, 2021, the Board authorized an additional $100.0 million of purchases under the existing stock repurchase plan.

There were no shares repurchased during the three and six months ended June 30, 2024. As of June 30, 2024, the Company had repurchased a total of approximately 10.0 million shares of common stock, since inception of the plan, at an average price of $17.24 per share for a total cost of $172.2 million. The shares repurchased are recorded as treasury stock and are accounted for under the cost method. No expiration date has been specified for this plan. As of June 30, 2024, the total remaining amount available for repurchase under this plan was $77.8 million. The Company may execute authorized repurchases from time to time under the plan.

The Company accounts for stock repurchases using the cost method and records retirement of treasury stock as a reduction of the cumulative treasury stock paid-in capital balance. Once the cumulative balance is reduced to zero, any remaining difference resulting from the retirement of treasury stock is recorded as a reduction of retained earnings.

The Company issues restricted stock awards as part of the equity incentive plans described above. For the majority of restricted awards, shares are withheld to satisfy required withholding taxes at the vesting date. Shares withheld to satisfy required withholding taxes in connection with the vesting of restricted awards are treated as common stock repurchases in the Condensed Consolidated Financial Statements because they reduce the number of shares that would have been issued on vesting. However, these withheld shares are not included in common stock repurchases under the Company’s authorized share repurchase plan. During the three months ended June 30, 2024 and 2023, the Company withheld 0.1 million and 0.1 million shares of common stock to satisfy $1.4 million and $0.9 million of required withholding taxes, respectively. During the six months ended June 30, 2024 and 2023, the Company withheld 0.8 million and 0.8 million shares of common stock to satisfy $9.1 million and $7.5 million of required withholding taxes, respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment and Geographic Information - Schedule of Geographic Revenue Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 87,350	$ 83,217	$ 170,755	$ 200,524
Total Revenue \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	100.00%	100.00%	100.00%	100.00%
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 71,608	$ 69,936	$ 140,047	$ 151,065
U.S. \| Total Revenue \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	82.00%	84.00%	75.00%	76.00%
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 3,376	$ 3,287	$ 6,573	$ 8,243
Canada \| Total Revenue \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	4.00%	4.00%	4.00%	4.00%
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 10,325	$ 7,363	$ 19,840	$ 35,983
Asia \| Total Revenue \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	11.00%	9.00%	18.00%	18.00%
Europe and Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 1,586	$ 2,195	$ 3,389	$ 4,383
Europe and Middle East \| Total Revenue \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	2.00%	3.00%	2.00%	2.00%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 455	$ 436	$ 906	$ 850
Other \| Total Revenue \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	1.00%	0.00%	1.00%	0.00%

Net Income Per Share - Computation of Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income	$ 8,382	$ 1,419	$ 9,281	$ 30,440
Denominator:
Weighted average shares of common stock outstanding	108,667	106,464	108,216	106,027
Add: Effect of dilutive securities associated with options	0	0	2	0
Add: Effect od dilutive securities associated with restricted stock awards and units	3,860	6,311	4,532	7,078
Add: Effect of dilutive securities associated with employee stock purchase program	9		7
Weighted average common shares - dilutive	112,536	112,775	112,757	113,105
Basic net income per share	$ 0.08	$ 0.01	$ 0.09	$ 0.29
Diluted net income per share	$ 0.07	$ 0.01	$ 0.08	$ 0.27
Anti-dilutive employee stock-based awards, excluded	1,306	1,816	788	613

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 12 – INCOME TAXES

The Company’s income tax provision and effective tax rate for interim periods are based on its estimated annual effective tax rate adjusted for discrete items during the period. For the three and six months ended June 30, 2024, the Company recorded income tax expense of $2.9 million and $8.6 million, respectively. For the three and six months ended June 30, 2023, the Company recorded income tax expense of $2.4 million and $14.2 million, respectively. The effective tax rate varies from the 21% U.S. federal tax rate primarily due to unrealized foreign exchange gain or loss on prior year South Korea withholding tax refund claims. The decrease in income tax expense for the six months ended June 30, 2024, as compared to the same period in the prior year was primarily due to a year to date decrease in pretax income.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt - Summary of Future Minimum Principal Payments for Long-term Debt, Excluding Any Additional Payment Required by the Excess Cash Flow Provision (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Debt Disclosure [Abstract]
2024 (remaining 6 months)	$ 14,028
2025	28,056
2026	28,056
2027	28,056
2028	450,915
Total	$ 549,111

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance at Dec. 31, 2022	$ 301,412	$ 117	$ 636,266	$ (211,223)	$ (51)	$ (123,697)
Beginning balance (in shares) at Dec. 31, 2022		105,167,000		12,225,000
Net income	30,440					30,440
Other comprehensive loss	(30)				(30)
Cash dividends paid on common stock	(10,636)		(10,636)
Issuance of common stock in connection with exercise of stock options	409		409
Issuance of common stock in connection with exercise of stock options (in shares)		38,000
Issuance of common stock in connection with employee stock purchase plan	719		719
Issuance of common stock in connection with employee stock purchase plan (in shares)		87,000
Issuance of restricted stock, net of shares canceled	2	$ 2
Issuance of restricted stock, net of shares canceled (in shares)		2,078,000
Withholding taxes related to net share settlement of restricted awards	$ (7,491)			$ (7,491)
Withholding taxes related to net share settlement of restricted awards (in shares)	800,000	(764,000)		764,000
Stock-based compensation expense	$ 8,196		8,196
Ending balance at Jun. 30, 2023	323,021	$ 119	634,954	$ (218,714)	(81)	(93,257)
Ending balance (in shares) at Jun. 30, 2023		106,606,000		12,989,000
Beginning balance at Mar. 31, 2023	322,614	$ 119	635,001	$ (217,783)	(47)	(94,676)
Beginning balance (in shares) at Mar. 31, 2023		106,285,000		12,889,000
Net income	1,419					1,419
Other comprehensive loss	(34)				(34)
Cash dividends paid on common stock	(5,322)		(5,322)
Issuance of common stock in connection with employee stock purchase plan	719		719
Issuance of common stock in connection with employee stock purchase plan (in shares)		87,000
Issuance of restricted stock, net of shares canceled (in shares)		334,000
Withholding taxes related to net share settlement of restricted awards	$ (931)			$ (931)
Withholding taxes related to net share settlement of restricted awards (in shares)	100,000	(100,000)		100,000
Stock-based compensation expense	$ 4,556		4,556
Ending balance at Jun. 30, 2023	323,021	$ 119	634,954	$ (218,714)	(81)	(93,257)
Ending balance (in shares) at Jun. 30, 2023		106,606,000		12,989,000
Beginning balance at Dec. 31, 2023	356,622	$ 121	635,331	$ (222,497)	(8)	(56,325)
Beginning balance (in shares) at Dec. 31, 2023		107,384,000		13,346,000
Net income	9,281					9,281
Other comprehensive loss	(88)				(88)
Cash dividends paid on common stock	(10,853)		(10,853)
Issuance of common stock in connection with exercise of stock options	562		562
Issuance of common stock in connection with exercise of stock options (in shares)		53,000
Issuance of common stock in connection with employee stock purchase plan	975		975
Issuance of common stock in connection with employee stock purchase plan (in shares)		120,000
Issuance of restricted stock, net of shares canceled	2	$ 2
Issuance of restricted stock, net of shares canceled (in shares)		2,089,000
Withholding taxes related to net share settlement of restricted awards	$ (9,102)			$ (9,102)
Withholding taxes related to net share settlement of restricted awards (in shares)	800,000	(792,000)		792,000
Stock-based compensation expense	$ 11,737		11,737
Ending balance at Jun. 30, 2024	359,136	$ 123	637,752	$ (231,599)	(96)	(47,044)
Ending balance (in shares) at Jun. 30, 2024		108,854,000		14,138,000
Beginning balance at Mar. 31, 2024	349,951	$ 122	635,552	$ (230,226)	(71)	(55,426)
Beginning balance (in shares) at Mar. 31, 2024		108,453,000		14,015,000
Net income	8,382					8,382
Other comprehensive loss	(25)				(25)
Cash dividends paid on common stock	(5,433)		(5,433)
Issuance of common stock in connection with exercise of stock options	66		66
Issuance of common stock in connection with exercise of stock options (in shares)		7,000
Issuance of common stock in connection with employee stock purchase plan	975		975
Issuance of common stock in connection with employee stock purchase plan (in shares)		120,000
Issuance of restricted stock, net of shares canceled	1	$ 1
Issuance of restricted stock, net of shares canceled (in shares)		397,000
Withholding taxes related to net share settlement of restricted awards	$ (1,373)			$ (1,373)
Withholding taxes related to net share settlement of restricted awards (in shares)	100,000	(123,000)		123,000
Stock-based compensation expense	$ 6,592		6,592
Ending balance at Jun. 30, 2024	$ 359,136	$ 123	$ 637,752	$ (231,599)	$ (96)	$ (47,044)
Ending balance (in shares) at Jun. 30, 2024		108,854,000		14,138,000

Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Schedule Of Investments [Line Items]
Cash, cash equivalents and short -term investments	$ 94,500	$ 83,600
Provision for credit loss expense related available for sale debt securities	0	0	$ 0
Operating Accounts
Schedule Of Investments [Line Items]
Cash, cash equivalents and short -term investments	$ 59,000	$ 48,800

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 5)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 19
-Subparagraph (1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-19

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 19
-Subparagraph (3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-19

+ Details

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

There have been no significant changes in the Company’s significant accounting policies during the three and six months ended June 30, 2024, as compared to the significant accounting policies described in the Form 10-K.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates and assumptions that require management’s most significant, challenging, and subjective judgment include identifying the performance obligations in the contract, estimating variable consideration, estimating quarterly royalties prior to receiving the royalty reports from the licensee, determining standalone selling price, and allocating consideration in a contract with multiple performance obligations, the assessment of the recoverability of goodwill, the assessment of useful lives and recoverability of other intangible assets and long-lived assets, recognition and measurement of current and deferred income tax assets and liabilities, the assessment of unrecognized tax benefits and purchase accounting resulting from business combinations, among others. Actual results experienced by the Company may differ from management’s estimates. These estimates may change, as new events occur and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known.

Recently Adopted Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”), which deferred the application dates of Topic 848 to December 31, 2024. In the second quarter of 2023, the Company adopted Topic 848 and modified its debt agreement to reference the other rate. The adoption did not have a material impact to the Company’s Condensed Consolidated Financial Statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09.

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 551	$ 609
Operating leases, weighted average remaining lease term (years)	7 years 11 months 4 days		8 years 4 months 6 days
Operating leases, weighted average discount rate	8.50%		8.50%

Discontinued Operations - Schedule of Purchase Price Allocation Reflective of Measurement Period Adjustments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Identifiable intangible assets:
Goodwill	$ 313,660	$ 313,660

- Definition

+ References

+ Details

Composition of Certain Financial Statement Captions - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 23,047	$ 22,304
Less: accumulated depreciation and amortization	(16,343)	(15,333)
Total property and equipment, net	6,704	6,971
Equipment, furniture and other
Property, Plant and Equipment [Line Items]
Total property and equipment	16,821	17,267
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 6,226	$ 5,037

Goodwill and Identified Intangible Assets - Identified Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 857,217	$ 850,241
Finite-lived intangible assets, Accumulated Amortization	(546,256)	(503,069)
Finite-lived intangible assets, Net	310,961	347,172
Acquired patents / core technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	661,336	654,360
Finite-lived intangible assets, Accumulated Amortization	(350,375)	(323,261)
Finite-lived intangible assets, Net	$ 310,961	331,099
Acquired patents / core technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	3 years
Acquired patents / core technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years
Existing technology / content database
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 38,681	38,681
Finite-lived intangible assets, Accumulated Amortization	$ (38,681)	(38,681)
Existing technology / content database \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	5 years
Existing technology / content database \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years
Customer contracts and related relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 155,900	155,900
Finite-lived intangible assets, Accumulated Amortization	(155,900)	(139,827)
Finite-lived intangible assets, Net	$ 0	16,073
Customer contracts and related relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	3 years
Customer contracts and related relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	9 years
Trademarks/trade name
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Assets	$ 1,300	1,300
Finite-lived intangible assets, Accumulated Amortization	$ (1,300)	$ (1,300)
Trademarks/trade name \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	4 years
Trademarks/trade name \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years

Composition of Certain Financial Statement Captions

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Certain Financial Statement Captions

NOTE 4 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS

Other current assets consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Prepaid income taxes	$	3,561	$	3,752
Prepaid expenses		2,505		2,185
Prepaid insurance		707		1,123
Other		3,237		640
Total other current assets	$	10,010	$	7,700

Property and equipment, net, consisted of the following (in thousands):


	June 30, 2024			December 31, 2023
Equipment, furniture and other	$	16,821		$	17,267
Leasehold improvements		6,226			5,037
Total property and equipment		23,047			22,304
Less: accumulated depreciation and amortization		(16,343	)		(15,333	)
Total property and equipment, net	$	6,704		$	6,971

Other long-term assets consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Long-term deferred tax assets	$	27,482	$	23,885
Other assets		3,604		4,361
Total other long-term assets	$	31,086	$	28,246

Accrued liabilities consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Employee compensation and benefits	$	5,230	$	8,378
Accrued expenses		4,315		3,601
Current portion of guarantee (1)		1,500		2,400
Current portion of operating lease liabilities		382		503
Accrued income taxes		29		325
Other		1,978		2,135
Total accrued liabilities	$	13,434	$	17,342

(1) Refer to “Note 14 – Commitments and Contingencies” for further detail on the nature of the guarantee.

Other long-term liabilities consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Long-term portion of guarantee (1)	$	17,035	$	16,135
Other		2,052		1,975
Total other long-term liabilities	$	19,087	$	18,110

(1) Refer to “Note 14 – Commitments and Contingencies” for further detail on the nature of the guarantee.

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Jul. 25, 2024
Cover [Abstract]
Entity Registrant Name	ADEIA INC.
Trading Symbol	ADEA
Entity Central Index Key	0001803696
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		108,902,611
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-39304
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4734590
Entity Address, Address Line One	3025 Orchard Parkway
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	473-2500
Document Quarterly Report	true
Document Transition Report	false
Security12b Title	Common Stock (par value $0.001 per share)
Security Exchange Name	NASDAQ

Revenue - Schedule of Remaining Performance Obligations (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 459,053
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 81,267
Performance obligations expected to be satisfied, expected timing	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 160,750
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 63,986
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 50,145
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 43,256
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2029-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 59,649
Performance obligations expected to be satisfied, expected timing

Composition of Certain Financial Statement Captions - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term portion of guarantee	$ 17,035	$ 16,135
Other	2,052	1,975
Total other long-term liabilities	$ 19,087	$ 18,110

Stockholders' Equity - Summary of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of Shares Subject to Options
Number of Shares, Beginning balance (shares) \| shares	213
Number of Shares, Options granted (shares) \| shares
Number of Shares, Options exercised (shares) \| shares	(53)
Number of Shares, Options canceled / forfeited / expired (shares) \| shares	(27)
Number of Shares, Ending balance (shares) \| shares	133
Number of Shares Subject to Options, Vested and Exercisable \| shares	133
Weighted Average Exercise Price Per Share
Weighted Average Exercise Price Per Share, Beginning balance (USD per share) \| $ / shares	$ 14.26
Weighted Average Exercise Price Per Share, Options granted (USD per share) \| $ / shares
Weighted Average Exercise Price Per Share, Options exercised (USD per share) \| $ / shares	10.62
Weighted Average Exercise Price Per Share, Options canceled / forfeited / expired (USD per share) \| $ / shares	12.39
Weighted Average Exercise Price Per Share, Ending balance (USD per share) \| $ / shares	16.04
Weighted Average Exercise Price Per Share, Vested and Exercisable (USD per share) \| $ / shares	$ 16.04

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable allowance for credit losses	$ 713	$ 1,463
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	122,992,000	120,730,000
Common stock, shares outstanding (in shares)	108,854,000	107,384,000
Treasury stock, shares (in shares)	14,138,000	13,346,000

Debt - Additional Information (Details) - USD ($)			3 Months Ended		6 Months Ended
Debt - Additional Information (Details) - USD ($)	May 20, 2024	Jun. 01, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Line Of Credit Facility [Line Items]
Voluntary prepayment against the term loan					$ 52,139,000	$ 103,750,000
Unamortized debt discount and issuance costs			$ 13,501,000		13,501,000		$ 15,555,000
Borrowings			535,610,000		535,610,000		$ 585,695,000
Interest expense			13,296,000	$ 15,540,000	27,471,000	31,478,000
Amortized costs			900,000	1,100,000	1,601,000	2,239,000
2020 Term Loan B Facility
Line Of Credit Facility [Line Items]
Loan facility, term		5 years
Borrowing capacity		$ 1,050,000,000
Voluntary prepayment against the term loan		$ 50,600,000
2021 Refinanced Term Loan B
Line Of Credit Facility [Line Items]
Borrowing capacity			810,000,000		$ 810,000,000
Debt instrument, prepayment premium					1.00%
Debt instrument, maturity date					Jun. 08, 2028
2021 Refinanced Term Loan B \| Base Rate
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate					2.50%
2021 Refinanced Term Loan B \| Eurodollar, London Interbank Offered Rate (LIBOR)
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate					3.50%
2021 Convertible Notes
Line Of Credit Facility [Line Items]
Unamortized debt discount and issuance costs			13,500,000		$ 13,500,000
Borrowings			$ 549,100,000		$ 549,100,000
2024 Term Loan B
Line Of Credit Facility [Line Items]
Borrowing capacity	$ 561,100,000
Debt instrument, prepayment premium	1.00%
Debt instrument, maturity date	Jun. 08, 2028
Interest rate			9.60%		9.60%
Interest expense			$ 12,900,000	$ 15,400,000	$ 25,400,000	$ 31,300,000
2024 Term Loan B \| Base Rate
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.00%
2024 Term Loan B \| SOFR
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	3.00%

Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

NOTE 16 – SUBSEQUENT EVENTS

Declaration of Cash Dividends

On July 24, 2024, the Board declared a cash dividend of $0.05 per share of common stock, payable on September 17, 2024 to the stockholders of record at the close of business on August 27, 2024.

Net Income Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income Per Share

NOTE 9 – NET INCOME PER SHARE

The following table sets forth the computation of net income per share (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Numerator:
Net income	$	8,382	$	1,419	$	9,281	$	30,440

Denominator:
Weighted average shares of common stock outstanding		108,667		106,464		108,216		106,027
Add: Effect of dilutive securities associated with options		—		—		2		—
Add: Effect of dilutive securities associated with restricted stock awards and units		3,860		6,311		4,532		7,078
Add: Effect of dilutive securities associated with employee stock purchase program		9		—		7		—
Weighted average common shares - dilutive		112,536		112,775		112,757		113,105

Basic net income per share	$	0.08	$	0.01	$	0.09	$	0.29

Diluted net income per share	$	0.07	$	0.01	$	0.08	$	0.27

Anti-dilutive employee stock-based awards, excluded		1,306		1,816		788		613

Basic net income per share is computed using the weighted average number of shares of common stock outstanding during the period, excluding any unvested restricted stock units that are subject to repurchase. Diluted net income per share is computed using the treasury stock method to calculate the weighted average number of shares of common stock and, if dilutive, potential common shares outstanding during the period. Potentially dilutive common shares include unvested restricted stock units and incremental common shares issuable upon the exercise of stock options, less shares repurchased from assumed proceeds. The assumed proceeds calculation includes actual proceeds to be received from the employee upon exercise and the average unrecognized stock compensation cost during the period.

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Marketable Securities

The following is a summary of marketable securities at June 30, 2024 and December 31, 2023 (in thousands):


	June 30, 2024
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Estimated Fair Values
Marketable securities
Commercial paper	$	11,154	$	—	$	(17	)	$	—	$	11,137
Corporate bonds and notes		16,687		7		(44	)		—		16,650
Treasury and agency notes and bills		3,481		—		(2	)		—		3,479
Total debt securities		31,322		7		(63	)		—		31,266
Money market funds		4,200		—		—			—		4,200
Total equity securities		4,200		—		—			—		4,200
Total marketable securities	$	35,522	$	7	$	(63	)	$	—	$	35,466
Reported in:
Cash and cash equivalents										$	7,469
Marketable securities										$	27,997
Total marketable securities										$	35,466


	December 31, 2023
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Estimated Fair Values
Marketable securities
Commercial paper	$	12,421	$	5	$	(4	)	$	—	$	12,422
Treasury and agency notes and bills		10,746		—		(1	)		—		10,745
Corporate bonds and notes		5,813		34		(2	)		—		5,845
Total debt securities		28,980		39		(7	)		—		29,012
Money market funds		5,778		—		—			—		5,778
Total equity securities		5,778		—		—			—		5,778
Total marketable securities	$	34,758	$	39	$	(7	)	$	—	$	34,790
Reported in:
Cash and cash equivalents										$	5,778
Marketable securities										$	29,012
Total marketable securities										$	34,790

Estimated Fair Value of AFS Debt Securities by Contractual Maturity

The estimated fair value of AFS debt securities by contractual maturity at June 30, 2024 is shown below (in thousands). Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.


	Amortized Cost		Estimated Fair Value
Due in one year or less	$	17,597	$	17,571
Due in one to two years		8,202		8,182
Due in two to three years		5,523		5,513
Total	$	31,322	$	31,266

Stockholders' Equity - Additional Information (Details)			3 Months Ended		6 Months Ended		49 Months Ended
Stockholders' Equity - Additional Information (Details)	May 09, 2024 shares	Apr. 29, 2022 shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 USD ($) $ / shares shares	Apr. 22, 2021 USD ($)	Jun. 12, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared, per share \| $ / shares			$ 0.05	$ 0.05
Stock repurchase program, authorized amount \| $								$ 100,000,000	$ 150,000,000
Treasury stock, total repurchase during period (in shares)			0		0		10,000,000
Treasury stock, average price of share repurchased (in dollars per share) \| $ / shares							$ 17.24
Treasury stock, total cost of repurchased stock \| $							$ 172,200,000
Stock repurchase program, remaining amount available for repurchase \| $			$ 77,800,000		$ 77,800,000		$ 77,800,000
Withholding taxes related to net share settlement of restricted awards (in shares)			100,000	100,000	800,000	800,000
Tax withholding on restricted stock awards \| $			$ 1,373,000	$ 931,000	$ 9,102,000	$ 7,491,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved for issuance		6,000,000
Expiration period					24 months
Shares reserved for grant (in shares)			5,200,000		5,200,000		5,200,000
Rolling expiration period					24 months
Maximum employee subscription rate			100.00%		100.00%		100.00%
Purchase price of common stock, percent					85.00%
Maximum employee subscription amount \| $			$ 25,000		$ 25,000		$ 25,000
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance awards, percentage of grant available to vest					0.00%
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance awards, percentage of grant available to vest					200.00%
2020 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation full value awards counted against shares available for issuance ratio	1.5
Additional shares reserved for issuance	8,900,000
Expiration period					10 years
Vesting period					4 years
2020 EIP \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance	16,800,000
2020 EIP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance	25,700,000
2020 EIP \| Time-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
2020 EIP \| Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for grant (in shares)			8,100,000		8,100,000		8,100,000
Assumed Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period					7 years
Vesting period					4 years
Assumed Plans \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting	The accompanying interim unaudited Condensed Consolidated Financial Statements have been prepared by the Company in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. The amounts as of December 31, 2023 have been derived from the Company’s annual audited Consolidated Financial Statements included in its Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 23, 2024 (the “Form 10-K”). These Condensed Consolidated Financial Statements should be read in conjunction with the annual audited Consolidated Financial Statements and notes thereto included in the Form 10-K as of and for the year ended December 31, 2023.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates and assumptions that require management’s most significant, challenging, and subjective judgment include identifying the performance obligations in the contract, estimating variable consideration, estimating quarterly royalties prior to receiving the royalty reports from the licensee, determining standalone selling price, and allocating consideration in a contract with multiple performance obligations, the assessment of the recoverability of goodwill, the assessment of useful lives and recoverability of other intangible assets and long-lived assets, recognition and measurement of current and deferred income tax assets and liabilities, the assessment of unrecognized tax benefits and purchase accounting resulting from business combinations, among others. Actual results experienced by the Company may differ from management’s estimates. These estimates may change, as new events occur and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”), which deferred the application dates of Topic 848 to December 31, 2024. In the second quarter of 2023, the Company adopted Topic 848 and modified its debt agreement to reference the other rate. The adoption did not have a material impact to the Company’s Condensed Consolidated Financial Statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09.
Revenue Recognition	Revenue Recognition General Revenue is recognized when control of the intellectual property (“IP”) rights is transferred to a customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for the licensing of the Company’s IP, which may include various combinations of IP rights and services which are generally capable of being distinct and accounted for as separate performance obligations. In situations where foreign withholding taxes are withheld by the Company’s licensee, revenue is recognized gross of withholding taxes that are remitted directly by the licensee to a local tax authority. Some of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the individual performance obligations are separately accounted for if they are distinct. In a contract with multiple performance obligations, the transaction price is allocated among the separate performance obligations on a relative standalone selling price basis. The determination of standalone selling price considers market conditions, the size and scope of the contract, customer and geographic information, and other factors. When observable prices are not available, standalone selling price for separate performance obligations is based on the adjusted market assessment approach to estimate the price that a customer in the relevant market would be willing to pay for licensing the Company’s IP rights. The allocation of transaction price among performance obligations in a contract may impact the amount and timing of revenue recognized in the Consolidated Statements of Income during a given period. When a contract with a customer includes variable consideration, an estimate of the consideration which the Company expects to be entitled to for transferring the promised IP rights or services is made at contract inception and in each subsequent reporting period until the uncertainty associated with the variable consideration is resolved. The amount of variable consideration is estimated by considering all available information (historical, current, and forecast) and is updated as additional information becomes available. The estimate of variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. When the uncertainty associated with variable consideration relates to potential price adjustments as a result of a legal contract dispute, the Company estimates variable consideration using the expected value method or the most likely amount method, whichever is more appropriate in the circumstances, and considers all available information, including historical data and experience. Estimating variable consideration related to potential future price adjustments requires significant judgment in evaluating the possible outcomes. Subsequent changes in the transaction price resulting from changes in the estimate of variable consideration are allocated to the performance obligations in the contract on the same basis as at contract inception. When variable consideration is in the form of a sales-based or usage-based royalty in exchange for a license of IP, revenue is recognized at the later of when the subsequent sale or usage occurs or the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied or partially satisfied. Description of Revenue-Generating Activities IP License Arrangements The Company licenses (i) its media patent portfolio (“Media IP licensing”) to multichannel video programming distributors, over-the-top video service providers, consumer electronics manufacturers, social media, and other new media companies and (ii) its semiconductor technologies and associated patent portfolio (“Semiconductor IP licensing”) to memory, logic, sensors, radio frequency component, and foundry companies. The Company generally licenses its IP portfolios under three models: (i) fixed-fee Media IP licensing, (ii) fixed-fee or minimum guarantee Semiconductor IP licensing, and (iii) per-unit or per-subscriber Media IP or Semiconductor IP royalty licensing. Fixed-fee Media IP licensing The Company’s long-term fixed-fee Media IP licensing contracts provide its customers with rights to future patented technologies over the term of the contract that are highly interdependent or highly interrelated to the patented technologies provided at the inception of the contract. The Company treats these rights as a single performance obligation with revenue recognized on a straight-line basis over the term of the fixed-fee license contract. The transaction price is adjusted for the effect of any significant financing components calculated using borrower-specific, risk-adjusted interest rates, with the related interest income or expense being recognized over time on an effective rate basis. Fixed-fee or minimum guarantee Semiconductor IP licensing The Company enters into Semiconductor IP licenses that have a fixed fee or a minimum guarantee, whereby licensees pay a fixed fee for the right to incorporate the Company’s IP technologies in the licensee’s products over the license term. In contracts with a minimum guarantee, the fixed fee component corresponds to a minimum number of units or dollars that the customer must produce or pay, with additional per-unit fees for any units or dollars exceeding the minimum. The Company generally recognizes the full fixed fee as revenue at the beginning of the license term when the customer has the right to use the IP and begins to benefit from the license, adjusted for the effect of any significant financing components calculated using borrower-specific, risk-adjusted interest rates, with the related interest income or expense being recognized over time on an effective rate basis. For minimum guarantee contracts where the customer exceeds the minimum, the Company recognizes revenue relating to any additional per-unit fees in the periods it believes the customer has exceeded the minimum and adjusts the revenue based on actual usage once that is reported by the customer. Per-unit or per-subscriber Media IP or Semiconductor IP royalty licensing The Company recognizes revenue from per-unit or per-subscriber IP royalty licenses in the period in which the licensee’s sales or production are estimated to have occurred, which results in an adjustment to revenue when actual sales or production are subsequently reported by the licensee, which is generally in the month or quarter following usage or shipment. Estimating customers’ monthly or quarterly royalties prior to receiving the royalty reports requires the Company to make significant assumptions and judgments related to forecasted trends and growth rates used to estimate quantities shipped or manufactured by customers, which could have a material impact on the amount of revenue it reports on a quarterly basis. IP license contracts with multiple performance obligations At times, the Company enters into long-term license contracts with more than one performance obligation, which may include releases from past patent infringement claims or one or more prospective licenses. In these arrangements, the Company allocates the transaction price between releases for past patent infringement claims and prospective licenses based on their relative standalone selling prices, which requires significant management judgment. In determining the standalone selling price of each performance obligation, the Company considers such factors as the number of past and projected future subscribers, units shipped, and units manufactured, as well as the per-subscriber or per-unit licensing rates the Company generally receives from licensees of comparable sizes in comparable markets and geographies. As a release from past patent infringement claims is generally satisfied at execution of the contract, the transaction price allocated to the release from past patent infringement claims is generally recognized in the period the contract is executed. Transaction price allocated to prospective Media IP licenses is recognized ratably over the license term, and transaction price allocated to prospective Semiconductor IP licenses is recognized upon execution of the contract. Practical Expedients and Exemptions The Company applies a practical expedient to not perform an evaluation of whether a contract includes a significant financing component when the timing of revenue recognition differs from the timing of cash collection by one year or less. The Company applies a practical expedient to expense costs to obtain a contract with a customer as incurred as a component of selling, general and administrative expenses when the amortization period would have been one year or less. The Company applies a practical expedient when disclosing revenue expected to be recognized from unsatisfied performance obligations to exclude contracts with customers with an original duration of less than one year; amounts attributable to variable consideration arising from (i) a sales-based or usage-based royalty of an intellectual property license or (ii) when variable consideration is allocated entirely to a wholly unsatisfied performance obligation; or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 18
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Leases (Tables)

3 Months Ended

6 Months Ended

Mar. 31, 2024

Jun. 30, 2024

Leases [Abstract]

Schedule of Operating Lease Costs

The components of operating lease costs were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Fixed lease cost	$	511	$	539	$	1,023		1,110
Variable lease cost		207		146		482		297
Total operating lease cost	$	718	$	685	$	1,505	$	1,407

Schedule of Other Information Related to Leases

Other information related to leases was as follows (in thousands, except lease term and discount rate):


	Three Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	551	$	609
ROU assets obtained in exchange for new lease liabilities:
Operating leases	$	—	$	—


	June 30, 2024			December 31, 2023
Weighted-average remaining lease term (years):
Operating leases		7.93			8.35
Weighted-average discount rate:
Operating leases		8.5	%		8.5	%

Schedule of Future Minimum Lease Payments and Related Lease Liabilities

Future minimum lease payments and related lease liabilities as of June 30, 2024 were as follows (in thousands):


	Operating Lease Payments (1)
2024 (remaining 6 months)	$	162
2025		568
2026		2,069
2027		2,132
2028		1,887
Thereafter		7,772
Total lease payments		14,590
Less: imputed interest		(4,796	)
Present value of lease liabilities:	$	9,794

Less: current obligations under leases (accrued liabilities)		382
Noncurrent operating lease liabilities	$	9,412

(1) Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance and real estate taxes.

The Company and Basis of Presentation - Additional Information (Details)		6 Months Ended
	Oct. 01, 2022 NumberOfShare	Jun. 30, 2024 Segment Patent $ / shares	Dec. 31, 2023 $ / shares	Oct. 03, 2022 $ / shares
Organization Consolidation And Presentation [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.001	$ 0.001	$ 0.001
Number of patents and applications \| Patent		11,500
Number of principal segment \| Segment		1
Distribution of outstanding shares, percentage	100.00%
Common stock, conversion ratio	4
Number of each shares of common stock held on record date \| NumberOfShare	10

Goodwill and Identified Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Identified Intangible Assets

Identified intangible assets consisted of the following (in thousands):


	Average	June 30, 2024							December 31, 2023
	Life (Years)	Gross Assets		Accumulated Amortization			Net		Gross Assets		Accumulated Amortization			Net
Finite-lived intangible assets:
Acquired patents / core technology	3-10	$	661,336	$	(350,375	)	$	310,961	$	654,360	$	(323,261	)	$	331,099
Customer contracts and related relationships	3-9		155,900		(155,900	)		—		155,900		(139,827	)		16,073
Existing technology / content database	5-10		38,681		(38,681	)		—		38,681		(38,681	)		—
Trademarks/trade name	4-10		1,300		(1,300	)		—		1,300		(1,300	)		—
Total intangible assets		$	857,217	$	(546,256	)	$	310,961	$	850,241	$	(503,069	)	$	347,172

Estimated Future Amortization Expense

As of June 30, 2024, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands):


	Amounts
2024 (remaining 6 months)	$	27,201
2025		54,397
2026		54,263
2027		53,911
2028		48,868
Thereafter		72,321
Total	$	310,961

Stockholders' Equity - Summary of Restricted Stock Awards (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock awards, beginning balance (shares)	9,372
Restricted stock awards, granted (shares)	3,069
Restricted stock awards, vested / earned (shares)	(2,089)
Restricted stock awards, canceled / forfeited (shares)	(942)
Restricted stock awards, ending balance (shares)	9,410
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value per share of restricted stock, beginning balance (USD per share) \| $ / shares	$ 10.44
Weighted average grant date fair value per share of restricted stock and units, granted (USD per share) \| $ / shares	12.04
Weighted average grant date fair value per share of restricted stock, vested / earned (USD per share) \| $ / shares	9.98
Weighted average grant date fair value of restricted stock, canceled / forfeited (USD per share) \| $ / shares	13.31
Weighted average grant date fair value per share of restricted stock and units, ending balance (USD per share) \| $ / shares	$ 10.79
Performance Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock awards, beginning balance (shares)	1,781
Restricted stock awards, granted (shares)	945
Restricted stock awards, vested / earned (shares)
Restricted stock awards, canceled / forfeited (shares)	(479)
Restricted stock awards, ending balance (shares)	2,247
Time Based Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock awards, beginning balance (shares)	7,591
Restricted stock awards, granted (shares)	2,124
Restricted stock awards, vested / earned (shares)	(2,089)
Restricted stock awards, canceled / forfeited (shares)	(463)
Restricted stock awards, ending balance (shares)	7,163

Fair Value

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value

NOTE 6 – FAIR VALUE

The Company follows the authoritative guidance for fair value measurement and the fair value option for financial assets and financial liabilities. The Company carries its financial instruments at fair value with the exception of its long-term debt. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, or an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:


Level 1	Quoted prices in active markets for identical assets.

Level 2	Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

When applying fair value principles in the valuation of assets, the Company is required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company calculates the fair value of its Level 1 and Level 2 instruments based on the exchange traded price of similar or identical instruments, where available, or based on other observable inputs. There were no significant transfers into or out of Level 1 or Level 2 that occurred between December 31, 2023 and June 30, 2024.

The following sets forth the fair value, and classification within the hierarchy, of the Company’s assets required to be measured at fair value on a recurring basis as of June 30, 2024 (in thousands):


	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Commercial paper - debt securities (1)	$	11,137	$	—	$	11,137	$	—
Corporate bonds and notes - debt securities (2)		16,650		—		16,650		—
Treasury and agency notes and bills - debt securities (1)		3,479		—		3,479		—
Money market funds - equity securities (3)		4,200		4,200		—		—
Total Assets	$	35,466	$	4,200	$	31,266	$	—

(1)

Reported as AFS debt securities in the Condensed Consolidated Balance Sheet as these were purchased with original maturities of more than three months at date of purchase; otherwise reported as cash and cash equivalents.

(2)

Reported as AFS debt securities in the Condensed Consolidated Balance Sheet.

(3)

Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet.

The following sets forth the fair value, and classification within the hierarchy, of the Company’s assets required to be measured at fair value on a recurring basis as of December 31, 2023 (in thousands):


	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Commercial paper - debt securities (1)	$	12,422	$	—	$	12,422	$	—
Treasury and agency notes and bills - debt securities (1)		10,745		—		10,745		—
Corporate bonds and notes - debt securities (2)		5,845		—		5,845		—
Money market funds - equity securities (3)		5,778		5,778		—		—
Total Assets	$	34,790	$	5,778	$	29,012	$	—

(1)

(2)

Reported as AFS debt securities in the Condensed Consolidated Balance Sheet.

(3)

Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet.

Financial Instruments Not Recorded at Fair Value

The Company’s long-term debt is carried at amortized cost and is measured at fair value on a quarterly basis for disclosure purposes. The carrying amounts and estimated fair values are as follows (in thousands):


	June 30, 2024				December 31, 2023
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
2021 Refinanced Term Loan B (1)		—		—		585,695		584,231
2024 Term Loan B (1)		535,610		534,940		—		—
Total long-term debt, net	$	535,610	$	534,940	$	585,695	$	584,231

(1) Carrying amounts of long-term debt are net of unamortized debt discount and issuance costs of $13.5 million and $15.6 million as of June 30, 2024 and December 31, 2023, respectively. See “Note 8 – Debt” for additional information.

If reported at fair value in the Condensed Consolidated Balance Sheets, the Company’s debt would be classified within Level 2 of the fair value hierarchy. The fair value of the debt was estimated based on the quoted market prices for the same or similar issues.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Financial Instruments - Estimated Fair Value of AFS Debt Securities by Contractual Maturity (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Amortized Cost
Amortized Cost, Due in one year or less	$ 17,597
Amortized Cost, Due in one to two years	8,202
Amortized Cost, Due in two to three years	5,523
Amortized Cost, Total	31,322
Estimated Fair Value
Estimated Fair Value, Due in one year or less	17,571
Estimated Fair Value, Due in one to two years	8,182
Estimated Fair Value, Due in two to three years	5,513
Estimated Fair Value, Total	$ 31,266

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

NOTE 13 – LEASES

The Company leases office and research facilities and office equipment under operating leases which expire through 2032. The Company’s leases have remaining lease terms of one to eight years, some of which may include options to extend the leases for five years or longer, and some of which may include options to terminate the leases within the next five years or less. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets; expense for these leases is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred and are not included within the lease liability and right-of-use assets calculation. As a practical expedient, the Company elected, for all office and facility leases, not to separate non-lease components (e.g., common-area maintenance costs) from lease components (e.g., fixed payments including rent) and instead to account for each separate lease component and its associated non-lease components as a single lease component.

As most of the leases do not provide an implicit rate, the Company generally, for purposes of discounting lease payments, uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date.

The components of operating lease costs were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Fixed lease cost	$	511	$	539	$	1,023		1,110
Variable lease cost		207		146		482		297
Total operating lease cost	$	718	$	685	$	1,505	$	1,407

Other information related to leases was as follows (in thousands, except lease term and discount rate):


	Three Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	551	$	609
ROU assets obtained in exchange for new lease liabilities:
Operating leases	$	—	$	—


	June 30, 2024			December 31, 2023
Weighted-average remaining lease term (years):
Operating leases		7.93			8.35
Weighted-average discount rate:
Operating leases		8.5	%		8.5	%

Future minimum lease payments and related lease liabilities as of June 30, 2024 were as follows (in thousands):


	Operating Lease Payments (1)
2024 (remaining 6 months)	$	162
2025		568
2026		2,069
2027		2,132
2028		1,887
Thereafter		7,772
Total lease payments		14,590
Less: imputed interest		(4,796	)
Present value of lease liabilities:	$	9,794

Less: current obligations under leases (accrued liabilities)		382
Noncurrent operating lease liabilities	$	9,412

(1) Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance and real estate taxes.

Subsequent Events - Additional Information (Details) - $ / shares		3 Months Ended
	Jul. 24, 2024	Jun. 30, 2024	Jun. 30, 2023
Subsequent Event [Line Items]
Dividends payable per share		$ 0.05	$ 0.05
Subsequent Event
Subsequent Event [Line Items]
Dividends declaration date	Jul. 24, 2024
Dividends payable per share	$ 0.05
Dividends payable date	Sep. 17, 2024
Dividends record date	Aug. 27, 2024

Revenue - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Unbilled contracts receivable	$ 89,187	$ 74,919
Other current assets	682	620
Long-term unbilled contracts receivable	63,943	73,843
Other long-term assets	932	1,007
Total contract assets	$ 154,744	$ 150,389

Stock-Based Compensation Expense - Schedule of Assumptions Used to Value Awards Granted (Details)	1 Months Ended			6 Months Ended
	May 31, 2024	May 31, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
2020 ESPP
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life (in years)				2 years	2 years
Risk-free interest rate				4.80%	4.30%
Dividend yield				1.70%	2.00%
Expected volatility				57.00%	63.50%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life (in years)	3 years	3 years	3 years
Risk-free interest rate	4.50%	3.60%	4.50%
Dividend yield	1.80%	2.30%	1.90%
Expected volatility	57.00%	63.30%	68.50%

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 14 – COMMITMENTS AND CONTINGENCIES

Purchase and Other Contractual Obligations

In the ordinary course of business, the Company enters into contractual agreements with third parties that include non-cancelable payment obligations, for which it is liable in future periods. These arrangements primarily include unconditional purchase obligations to service providers. As of June 30, 2024, the Company’s total future unconditional purchase obligations were approximately $3.0 million, including $1.2 million due in the remainder of 2024, $1.6 million due in 2025 and $0.2 million due thereafter.

Guarantee

Prior to the Separation, Adeia Media LLC, a subsidiary of the Company (“Adeia Media”), and a subsidiary of Xperi Inc. (“Xperi Sub”) entered into an agreement (the “Specified Agreement”) with a third party pursuant to which Adeia Media guarantees the performance of Xperi Sub under the Specified Agreement, including its payment obligations to such third party. In connection with the Separation, Adeia Media and Xperi Sub entered into a separate cross business agreement (the “Cross Business Agreement”) effective as of October 1, 2022, under which Adeia Media agreed to make guarantee payments to Xperi Sub in amounts based on certain of its operating expenses and other minimum performance obligations under the Specified Agreement through 2031. Consequently, on October 1, 2022, the Company recognized a guarantee liability pursuant to ASC 460 “Guarantees” of $19.7 million, which represents the fair value of Adeia Media’s projected payments of such operating expenses during the term of the Cross Business Agreement. Subsequent changes to the carrying value of the guarantee are recognized as part of the Company’s results of operations. The maximum potential amount of future payments subject to the guarantee is approximately $7.5 million per annum between 2024 and 2031.

As of June 30, 2024 and December 31, 2023, the balance of the guarantee liability was $18.5 million. The Company made no guarantee payment during the three and six months ended June 30, 2024. During the three months and six months ended June 30, 2023, the Company made guarantee payments of $0.6 million and $1.1 million, respectively. The Company recognized other income of $0.3 million during the six months ended June 30, 2023 in the Condensed Consolidated Statement of Operations as a result of a change in the carrying value of the guarantee liability.

Indemnifications

In the normal course of business, the Company provides indemnifications of varying scopes and amounts to certain of its licensees, customers, and business partners against claims made by third parties arising from the use of the Company’s intellectual property, services or technologies. The Company cannot reasonably estimate the possible range of losses that may be incurred pursuant to its indemnification obligations, if any. Variables affecting any such assessment include, but are not limited to: the nature of the claim asserted; the relative merits of the claim; the financial ability of the party suing the indemnified party to engage in protracted litigation; the number of parties seeking indemnification; the nature and amount of damages claimed by the party suing the indemnified party; and the willingness of such party to engage in settlement negotiations. To date, no such claims have been filed against the Company and no liability has been recorded in the Company’s financial statements.

As permitted under Delaware law, the Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company believes, given the absence of any such payments in the Company’s history, and the estimated low probability of such payments in the future, that the estimated fair value of these indemnification agreements is immaterial. In addition, the Company has directors’ and officers’ liability insurance coverage that is intended to reduce its financial exposure and may enable the Company to recover any payments under the indemnification agreements, should they occur.

Contingencies

At each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of losses is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies.

Litigation related

On June 23, 2017, Adeia Guides Inc. (formerly known as Rovi Guides, Inc.) and Adeia Media Solutions Inc. (formerly known as TiVo Solutions Inc.) (together, “Adeia Media”) filed a patent infringement complaint against Videotron Ltd. and Videotron G.P. (together, “Videotron”) in Toronto, Canada, alleging infringement of six patents (“Videotron 1”). On June 10, 2022, the Federal Court of Canada issued its decision in the case finding in favor of Videotron and its legacy “illico” platform. Specifically, the Court found invalid each of the asserted claims related to the four remaining patents involved in the case. In Canada, the prevailing party in patent litigation is entitled to reimbursement of certain of its costs and expenses. Accordingly, the Company paid $2.5 million for expense reimbursement in the fourth quarter of 2022. On September 12, 2022, Adeia Media filed a notice of appeal with the Federal Court of Appeal of Canada appealing the decision of the Federal Court of Canada. On January 30, 2023, Adeia Media filed its opening memorandum of fact and law. Videotron filed its memorandum of fact and law on April 17, 2023. On November 28, 2023, the Federal Court of Appeal of Canada held a hearing on the appeal and took the matter under reserve. On August 6, 2024, the Federal Court of Appeal of Canada issued a judgment in the appeal in which it dismissed the appeal.

On January 19, 2018, Adeia Media filed a patent infringement complaint against Bell Canada (and four of its affiliates) (collectively, “Bell”) in Toronto, Canada, alleging infringement of six patents (“Bell 1”). On February 2, 2018, Adeia Media filed a patent infringement complaint against Telus Corporation (and two of its affiliates) (collectively, “Telus”) in Toronto, Canada, alleging infringement of the same six patents (“Telus 1”). Bell 1and Telus 1 were heard together for purposes of pre-trial and trial proceedings. On October 7, 2022, the Federal Court of Canada issued its decision in the two cases finding in favor of Bell and Telus and their respective IPTV services, Bell Fibe TV and Telus Optik TV. Specifically, the Court found invalid each of the asserted claims of the four remaining patents involved in the case. In Canada, the prevailing party in patent litigation is entitled to reimbursement of certain of its costs and expenses. Accordingly, the Company paid $2.8 million for expense reimbursement in the second quarter of 2023. On November 7, 2022, Adeia Media filed a notice of appeal with the Federal Court of Appeal of Canada appealing the decision of the Federal Court of Canada. On June 2, 2023, Adeia Media filed its opening memorandum of fact and law. Bell and Telus filed a combined memorandum of fact and law on August 18, 2023. On November 29, 2023, the Federal Court of Appeal of Canada held a hearing on the appeal and took the matter under reserve. On August 6, 2024, the Federal Court of Appeal of Canada issued a judgment in the appeal in which it dismissed the appeal.

The Company is unable to predict the final outcome of other lawsuits, including other patent infringement lawsuits in Canada, to which it is a party and therefore cannot determine the likelihood of loss nor estimate a range of possible losses. An adverse decision in any of these proceedings could significantly harm the Company's business and consolidated financial position, results of operations or cash flows.

The Company and its subsidiaries are involved in litigation matters and claims in the normal course of business. In the past, the Company and its subsidiaries have litigated to enforce their respective patents and other intellectual property rights, to enforce the terms of license agreements, to protect trade secrets, to determine the validity and scope of the proprietary rights of others and to defend itself or its customers against claims of infringement or invalidity. The Company expects it or its subsidiaries will be involved in similar legal proceedings in the future, including proceedings regarding infringement of its patents, and proceedings to ensure proper and full payment of royalties by licensees under the terms of its license agreements.

Fair Value - Schedule of Fair Value Assets Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 35,466	$ 34,790
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,200	5,778
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	31,266	29,012
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,200	5,778
Money market funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,200	5,778
Money market funds \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Money market funds \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,650	5,845
Corporate bonds and notes \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Corporate bonds and notes \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,650	5,845
Corporate bonds and notes \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Treasury and agency notes and bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,479	10,745
Treasury and agency notes and bills \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Treasury and agency notes and bills \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,479	10,745
Treasury and agency notes and bills \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	11,137	12,422
Commercial paper \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Commercial paper \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	11,137	12,422
Commercial paper \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0

Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Geographic Revenue Information

The table below lists the geographic revenue for the periods indicated (in thousands):


	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
U.S.	$	71,608	82	%	$	69,936	84	%	$	140,047	75	%	$	151,065	76	%
Canada		3,376	4			3,287	4			6,573	4			8,243	4
Asia		10,325	11			7,363	9			19,840	18			35,983	18
Europe and Middle East		1,586	2			2,195	3			3,389	2			4,383	2
Other		455	1			436	—			906	1			850	—
	$	87,350	100	%	$	83,217	100	%	$	170,755	100	%	$	200,524	100	%

Summary of Customers Comprising 10% or More of Total Revenues

The following table sets forth revenue generated from customers which comprise 10% or more of total revenue for the periods indicated:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Customer A		19.7	%		20.7	%		20.1	%		17.1	%
Customer B		11.4	%		13.3	%		11.9	%		11.1	%
Customer C	*				10.4	%	*			*
Customer D	*			*			*				10.4	%

* denotes less than 10% of total revenue.

Revenue

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

NOTE 3 – REVENUE

Revenue Recognition

General

Revenue is recognized when control of the intellectual property (“IP”) rights is transferred to a customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for the licensing of the Company’s IP, which may include various combinations of IP rights and services which are generally capable of being distinct and accounted for as separate performance obligations. In situations where foreign withholding taxes are withheld by the Company’s licensee, revenue is recognized gross of withholding taxes that are remitted directly by the licensee to a local tax authority.

Some of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the individual performance obligations are separately accounted for if they are distinct. In a contract with multiple performance obligations, the transaction price is allocated among the separate performance obligations on a relative standalone selling price basis. The determination of standalone selling price considers market conditions, the size and scope of the contract, customer and geographic information, and other factors. When observable prices are not available, standalone selling price for separate performance obligations is based on the adjusted market assessment approach to estimate the price that a customer in the relevant market would be willing to pay for licensing the Company’s IP rights. The allocation of transaction price among performance obligations in a contract may impact the amount and timing of revenue recognized in the Consolidated Statements of Income during a given period.

When a contract with a customer includes variable consideration, an estimate of the consideration which the Company expects to be entitled to for transferring the promised IP rights or services is made at contract inception and in each subsequent reporting period until the uncertainty associated with the variable consideration is resolved. The amount of variable consideration is estimated by considering all available information (historical, current, and forecast) and is updated as additional information becomes available. The estimate of variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. When the uncertainty associated with variable consideration relates to potential price adjustments as a result of a legal contract dispute, the Company estimates variable consideration using the expected value method or the most likely amount method, whichever is more appropriate in the circumstances, and considers all available information, including historical data and experience. Estimating variable consideration related to potential future price adjustments requires significant judgment in evaluating the possible outcomes. Subsequent changes in the transaction price resulting from changes in the estimate of variable consideration are allocated to the performance obligations in the contract on the same basis as at contract inception.

When variable consideration is in the form of a sales-based or usage-based royalty in exchange for a license of IP, revenue is recognized at the later of when the subsequent sale or usage occurs or the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied or partially satisfied.

Description of Revenue-Generating Activities

IP License Arrangements

The Company licenses (i) its media patent portfolio (“Media IP licensing”) to multichannel video programming distributors, over-the-top video service providers, consumer electronics manufacturers, social media, and other new media companies and (ii) its semiconductor technologies and associated patent portfolio (“Semiconductor IP licensing”) to memory, logic, sensors, radio frequency component, and foundry companies. The Company generally licenses its IP portfolios under three models: (i) fixed-fee Media IP licensing, (ii) fixed-fee or minimum guarantee Semiconductor IP licensing, and (iii) per-unit or per-subscriber Media IP or Semiconductor IP royalty licensing.

Fixed-fee Media IP licensing

The Company’s long-term fixed-fee Media IP licensing contracts provide its customers with rights to future patented technologies over the term of the contract that are highly interdependent or highly interrelated to the patented technologies provided at the inception of the contract. The Company treats these rights as a single performance obligation with revenue recognized on a straight-line basis over the term of the fixed-fee license contract. The transaction price is adjusted for the effect of any significant financing components calculated using borrower-specific, risk-adjusted interest rates, with the related interest income or expense being recognized over time on an effective rate basis.

Fixed-fee or minimum guarantee Semiconductor IP licensing

The Company enters into Semiconductor IP licenses that have a fixed fee or a minimum guarantee, whereby licensees pay a fixed fee for the right to incorporate the Company’s IP technologies in the licensee’s products over the license term. In contracts with a minimum guarantee, the fixed fee component corresponds to a minimum number of units or dollars that the customer must produce or pay, with additional per-unit fees for any units or dollars exceeding the minimum. The Company generally recognizes the full fixed fee as revenue at the beginning of the license term when the customer has the right to use the IP and begins to benefit from the license, adjusted for the effect of any significant financing components calculated using borrower-specific, risk-adjusted interest rates, with the related interest income or expense being recognized over time on an effective rate basis. For minimum guarantee contracts where the customer exceeds the minimum, the Company recognizes revenue relating to any additional per-unit fees in the periods it believes the customer has exceeded the minimum and adjusts the revenue based on actual usage once that is reported by the customer.

Per-unit or per-subscriber Media IP or Semiconductor IP royalty licensing

The Company recognizes revenue from per-unit or per-subscriber IP royalty licenses in the period in which the licensee’s sales or production are estimated to have occurred, which results in an adjustment to revenue when actual sales or production are subsequently reported by the licensee, which is generally in the month or quarter following usage or shipment. Estimating customers’ monthly or quarterly royalties prior to receiving the royalty reports requires the Company to make significant assumptions and judgments related to forecasted trends and growth rates used to estimate quantities shipped or manufactured by customers, which could have a material impact on the amount of revenue it reports on a quarterly basis.

IP license contracts with multiple performance obligations

At times, the Company enters into long-term license contracts with more than one performance obligation, which may include releases from past patent infringement claims or one or more prospective licenses. In these arrangements, the Company allocates the transaction price between releases for past patent infringement claims and prospective licenses based on their relative standalone selling prices, which requires significant management judgment.

In determining the standalone selling price of each performance obligation, the Company considers such factors as the number of past and projected future subscribers, units shipped, and units manufactured, as well as the per-subscriber or per-unit licensing rates the Company generally receives from licensees of comparable sizes in comparable markets and geographies.

As a release from past patent infringement claims is generally satisfied at execution of the contract, the transaction price allocated to the release from past patent infringement claims is generally recognized in the period the contract is executed. Transaction price allocated to prospective Media IP licenses is recognized ratably over the license term, and transaction price allocated to prospective Semiconductor IP licenses is recognized upon execution of the contract.

Practical Expedients and Exemptions

The Company applies a practical expedient to not perform an evaluation of whether a contract includes a significant financing component when the timing of revenue recognition differs from the timing of cash collection by one year or less.

The Company applies a practical expedient to expense costs to obtain a contract with a customer as incurred as a component of selling, general and administrative expenses when the amortization period would have been one year or less.

The Company applies a practical expedient when disclosing revenue expected to be recognized from unsatisfied performance obligations to exclude contracts with customers with an original duration of less than one year; amounts attributable to variable consideration arising from (i) a sales-based or usage-based royalty of an intellectual property license or (ii) when variable consideration is allocated entirely to a wholly unsatisfied performance obligation; or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation.

Revenue Details

Revenue Disaggregation

The following information depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors by disaggregating revenue by category, market vertical and geographic location (presented in “Note 15 – Segment and Geographic Information”). This information includes revenue recognized from contracts with customers and revenue from other sources, including sales-based or usage-based royalty revenues and fees associated with releases for past infringement.

Recurring and non-recurring revenue

Recurring revenue includes the following: (i) for fixed-fee Media IP license agreements, revenue associated with rights to existing and future patented technologies during reporting periods beginning with the reporting period in which the agreement is executed through the end of the term of the agreement, which are recognized on a straight-line basis; and (ii) for per-unit or per-subscriber Media IP or Semiconductor IP royalty license agreements, revenue associated with sales-based or usage-based royalties in exchange for a license of IP, which are recognized in the period such subsequent sales or usage occurs.

Non-recurring revenue includes the following: (i) for fixed-fee or minimum guarantee Semiconductor IP license agreements, revenue in the amount of such fixed fee or minimum guarantee associated with the right to use the IP, which is recognized upon execution of the agreement; and (ii) for all license agreements, revenue in the amount of the fees associated with releases for past patent infringement or licenses, in each case with respect to reporting periods prior to the execution of the agreement, which is recognized upon execution of the agreement.

Revenue disaggregated by recurring and non-recurring nature was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Recurring revenue	$	82,269	$	81,606	$	165,045	$	165,972
Non-recurring revenue		5,081		1,611		5,710		34,552
Total revenue	$	87,350	$	83,217	$	170,755	$	200,524

Revenue by market vertical

Revenue disaggregated by market vertical was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Media	$	83,626	$	80,645	$	164,063	$	163,279
Semiconductor		3,724		2,572		6,692		37,245
Total revenue	$	87,350	$	83,217	$	170,755	$	200,524

Contract Balances

Contracts Assets

Contract assets primarily consist of unbilled contracts receivable that are expected to be received from customers in future periods, where the revenue recognized to date exceeds the amount billed. The amount of unbilled contracts receivable may not exceed their net realizable value and are classified as long-term assets if the payments are expected to be received more than one year from the reporting date. Contract assets also include the incremental costs of obtaining a contract with a customer, principally sales commissions when the renewal commission is not commensurate with the initial commission.

Contract assets were recorded in the Condensed Consolidated Balance Sheets as follows (in thousands):


	June 30, 2024		December 31, 2023
Unbilled contracts receivable	$	89,187	$	74,919
Other current assets		682		620
Long-term unbilled contracts receivable		63,943		73,843
Other long-term assets		932		1,007
Total contract assets	$	154,744	$	150,389

Contract Liabilities

Contract liabilities are comprised of deferred revenue related to multi-period licensing arrangements for which the Company is paid in advance, while the underlying performance obligation is satisfied at a future date or over time.

Allowance for Credit Losses

The allowance for credit losses represents the Company’s best estimate of lifetime expected credit losses inherent in accounts receivable and unbilled contracts receivable. The Company’s long-term unbilled contracts receivable is derived from fixed-fee or minimum-guarantee Semiconductor IP licensing and is primarily comprised of contracts with large, well-capitalized companies. It is generally considered to be of high credit quality due to past collection history and the nature of the customers.

The allowance for credit losses at June 30, 2024 and December 31, 2023 was $0.7 million and $1.5 million, respectively and is presented as part of accounts receivable, net in the Condensed Consolidated Balance Sheets.

Additional Disclosures

The following table presents additional revenue and contract disclosures (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenue recognized in the period from:
Amounts included in deferred revenue at the beginning of the period	$	1,703	$	4,107	$	3,708	$	8,889
Performance obligations satisfied in previous periods (1)	$	4,864	$	1,131	$	5,076	$	1,884

(1) Performance obligations satisfied in previous periods consist mainly of fees associated with releases for past patent infringement, settlements of litigation during the period, and revenue from past royalties owed pursuant to expired or terminated IP license agreements. For long-term and multi-year revenue contracts, the Company recorded revenue from the releases for past infringement during the three months and six months ended June 30, 2024 and 2023 and expects to record revenue from the prospective license in future periods.

Remaining revenue under contracts with performance obligations represents the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) under certain of the Company’s fixed fee arrangements (in thousands).


	As of June 30, 2024
Revenue from contracts with performance obligations expected to be satisfied in:
2024 (remaining 6 months)	$	81,267
2025		160,750
2026		63,986
2027		50,145
2028		43,256
Thereafter		59,649
Total	$	459,053

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Stock-Based Compensation Expense (Tables)

6 Months Ended

Jun. 30, 2024

Effect of Recording Stock-Based Compensation Expense

The effect of recording stock-based compensation (“SBC”) expense for the three and six months ended June 30, 2024 and 2023 is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	1,093	$	736		1,902		1,330
Selling, general and administrative		5,499		3,820		9,835		6,866
Total stock-based compensation expense	$	6,592	$	4,556	$	11,737	$	8,196

There were no options granted during the three and six months ended June 30, 2024 and 2023

2020 ESPP

Schedule of Assumptions Used to Value Awards Granted

Grants under the 2020 ESPP occur in June and December, as discussed in “Note 10 – Stockholders’ Equity”. The following assumptions were used to value the shares for these grants.


	June 2024			June 2023
Expected life (years)		2.0			2.0
Risk-free interest rate		4.8	%		4.3	%
Dividend yield		1.7	%		2.0	%
Expected volatility		57.0	%		63.5	%

Restricted Stock Units

Schedule of Assumptions Used to Value Awards Granted

The following assumptions were used to value the restricted stock units subject to market conditions granted during the six months ended June 30, 2024 and 2023:


	May 2024			May 2023			March 2023
Expected life (years)		3.0			3.0			3.0
Risk-free interest rate		4.5	%		3.6	%		4.5	%
Dividend yield		1.8	%		2.3	%		1.9	%
Expected volatility		57.0	%		63.3	%		68.5	%

Stock-Based Compensation Expense - Effect of Recording Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 6,592	$ 4,556	$ 11,737	$ 8,196
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,093	736	1,902	1,330
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 5,499	$ 3,820	$ 9,835	$ 6,866

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the stock option activity is presented below (in thousands, except per share amounts):


	Options Outstanding
	Number of Shares Subject to Options			Weighted Average Exercise Price Per Share
Balance at December 31, 2023		213		$	14.26
Options granted		—		$	—
Options exercised		(53	)	$	10.62
Options canceled / forfeited / expired		(27	)	$	12.39
Balance at June 30, 2024		133		$	16.04
Vested and exercisable at June 30, 2024		133		$	16.04

Summary of Restricted Stock Awards


	Restricted Stock Awards
	Number of Shares Subject to Time- based Vesting			Number of Shares Subject to Performance- based Vesting			Total Number of Shares			Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2023		7,591			1,781			9,372		$	10.44
Awards granted		2,124			945			3,069		$	12.04
Awards vested / earned		(2,089	)		—			(2,089	)	$	9.98
Awards canceled / forfeited		(463	)		(479	)		(942	)	$	13.31
Balance at June 30, 2024		7,163			2,247			9,410		$	10.79

Revenue - Schedule of Remaining Performance Obligations (Details 1) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 459,053

Segment and Geographic Information - Schedule of Summary of Customers Comprising 10% or More of Total Revenues (Details) - Sales Revenue Net - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Customer A
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	19.70%	20.70%	20.10%	17.10%
Customer B
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)	11.40%	13.30%	11.90%	11.10%
Customer C
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)		10.40%
Customer D
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (or more)				10.40%

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 8,382	$ 1,419	$ 9,281	$ 30,440
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustment	0	0	0	9
Net unrealized losses on available-for-sale debt securities	(25)	(34)	(88)	(39)
Other comprehensive loss, net of tax	(25)	(34)	(88)	(30)
Total comprehensive income	$ 8,357	$ 1,385	$ 9,193	$ 30,410

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 9,281	$ 30,440
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	1,010	769
Amortization of intangible assets	43,187	47,339
Stock-based compensation expense	11,737	8,196
Deferred income taxes	(3,596)	1,501
Loss on debt extinguishment	453	0
Amortization of debt issuance costs	1,601	2,239
Other	(1,272)	493
Changes in operating assets and liabilities:
Accounts receivable	14,666	27,708
Unbilled contracts receivable	(4,368)	(25,467)
Other assets	5,331	6,868
Accounts payable	(2,864)	6,987
Accrued and other liabilities	(1,716)	(16,447)
Deferred revenue	17,240	1,442
Net cash from operating activities	90,690	92,068
Cash flows from investing activities:
Purchases of property and equipment	(1,214)	(1,545)
Purchases of intangible assets	(8,476)	(95)
Purchases of short-term investments	(18,701)	(23,766)
Proceeds from maturities of investments	20,150	0
Net cash from investing activities	(8,241)	(25,406)
Cash flows from financing activities:
Dividends paid	(10,853)	(10,636)
Repayment of debt	(52,139)	(103,750)
Proceeds from employee stock purchase program and exercise of stock options	1,539	1,130
Repurchases of common stock for tax withholdings on equity awards	(9,102)	(7,491)
Net cash from financing activities	(70,555)	(120,747)
Net increase (decrease) in cash and cash equivalents	11,894	(54,085)
Cash and cash equivalents at beginning of period	54,560	114,555
Cash and cash equivalents at end of period	66,454	60,470
Supplemental disclosure of cash flow information:
Interest paid	24,470	29,009
Income taxes paid, net of refunds	5,984	2,840
Unpaid purchases of property and equipment at the end of the period	$ 0	$ 963

The Company and Basis of Presentation

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Company and Basis of Presentation

NOTE 1 – THE COMPANY AND BASIS OF PRESENTATION

Adeia Inc. (the “Company”), a Delaware corporation, is one of the industry’s largest intellectual property (“IP”) licensing platforms, with a diverse portfolio of media and semiconductor IP consisting of over 11,500 patents and patent applications worldwide.

On October 1, 2022, the Company completed the previously announced separation (“the Separation”) of its product business into a separate, independent, publicly-traded company, Xperi Inc. (“Xperi Inc.”). The Separation was structured as a spin-off, which was achieved through the Company’s distribution of 100 percent of the outstanding shares of Xperi Inc.’s common stock to holders of the Company’s common stock as of the close of business on the record date of September 21, 2022 (the “Record Date”). Each Company stockholder of record received four shares of Xperi Inc. common stock for every ten shares of Company common stock that it held on the Record Date. Following the Separation, the Company retains no ownership in Xperi Inc., which is now listed under the ticker symbol “XPER” on the New York Stock Exchange. Effective at the open of business on October 3, 2022, the Company’s shares of common stock, par value $0.001 per share, began trading on the Nasdaq Global Select Market under the new ticker symbol “ADEA”.

Additionally, as a result of the Separation, the Company changed its operational structure in the fourth quarter of 2022, resulting in one reportable segment, IP Licensing.

The accompanying interim unaudited Condensed Consolidated Financial Statements have been prepared by the Company in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. The amounts as of December 31, 2023 have been derived from the Company’s annual audited Consolidated Financial Statements included in its Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 23, 2024 (the “Form 10-K”). These Condensed Consolidated Financial Statements should be read in conjunction with the annual audited Consolidated Financial Statements and notes thereto included in the Form 10-K as of and for the year ended December 31, 2023.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements reflect all adjustments necessary (consisting of normal recurring adjustments) to state fairly the financial position of the Company and its results of operations and cash flows as of and for the periods presented. The results of operations for the three months and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2024 or any future period and the Company makes no representations related thereto.

Segment and Geographic Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment and Geographic Information

NOTE 15 – SEGMENT AND GEOGRAPHIC INFORMATION

The Company has one reportable segment: Intellectual Property (“IP”) Licensing. Reportable segments are identified based on the Company’s organizational structure and information reviewed by the Company’s chief operating decision maker (“CODM”) to evaluate performance and allocate resources. The Company’s Chief Executive Officer is also the CODM as defined by the authoritative guidance on segment reporting.

A portion of the Company’s revenue is derived from licensees headquartered outside of the U.S., and it is expected that this revenue will continue to account for a portion of total revenue in future periods. The table below lists the geographic revenue for the periods indicated (in thousands):


	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
U.S.	$	71,608	82	%	$	69,936	84	%	$	140,047	75	%	$	151,065	76	%
Canada		3,376	4			3,287	4			6,573	4			8,243	4
Asia		10,325	11			7,363	9			19,840	18			35,983	18
Europe and Middle East		1,586	2			2,195	3			3,389	2			4,383	2
Other		455	1			436	—			906	1			850	—
	$	87,350	100	%	$	83,217	100	%	$	170,755	100	%	$	200,524	100	%

For the three and six months ended June 30, 2024 and 2023, there were two and three customers, respectively, that each accounted for 10% or more of total revenue. The following table sets forth revenue generated from customers which comprise 10% or more of total revenue for the periods indicated:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Customer A		19.7	%		20.7	%		20.1	%		17.1	%
Customer B		11.4	%		13.3	%		11.9	%		11.1	%
Customer C	*				10.4	%	*			*
Customer D	*			*			*				10.4	%

* denotes less than 10% of total revenue.

As of June 30, 2024, the Company had one customer representing 69% of aggregate accounts receivable. At December 31, 2023, the Company had two customers representing 42% and 28% of aggregate accounts receivable, respectively.

As of June 30, 2024 and December 31, 2023, property and equipment, net, was all located in the U.S.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Amounts of Debt

The outstanding amounts of debt were as follows (in thousands):


	June 30, 2024			December 31, 2023
2021 Refinanced Term Loan B		—		$	601,250
2024 Term Loan B	$	549,111			—
Unamortized debt discount and issuance costs		(13,501	)		(15,555	)
		535,610			585,695
Less: current portion, net of debt discount and issuance costs		(24,753	)		(66,145	)
Total long-term debt, net of current portion	$	510,857		$	519,550

Summary of Future Minimum Principal Payments for Long-term Debt, Excluding Any Additional Payment Required by the Excess Cash Flow Provision


	Amounts
2024 (remaining 6 months)	$	14,028
2025		28,056
2026		28,056
2027		28,056
2028		450,915
Total	$	549,111

Revenue - Schedule of Revenue Disaggregated by Recurring and Non-recurring (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue Recognition [Line Items]
Total revenue	$ 87,350	$ 83,217	$ 170,755	$ 200,524
Recurring revenue
Revenue Recognition [Line Items]
Total revenue	82,269	81,606	165,045	165,972
Non-recurring revenue
Revenue Recognition [Line Items]
Total revenue	$ 5,081	$ 1,611	$ 5,710	$ 34,552

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Financial Instruments

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Financial Instruments

NOTE 5 – FINANCIAL INSTRUMENTS

The Company has investments in debt securities, which include corporate bonds and notes, treasury and agency notes and bills, commercial paper, certificates of deposit, and in equity securities consisting of money market funds. The Company classifies its debt securities as available-for-sale (“AFS”), which are accounted for at fair value with credit related losses recognized as a provision for credit losses in its Consolidated Statements of Income and all non-credit related unrealized gains and losses recognized in accumulated other comprehensive income or loss on the Consolidated Balance Sheets. Under ASU 2016-01 (Topic 321), equity securities are measured at fair value with unrealized gains and losses recognized in other income and expense, net, in the Consolidated Statements of Income.

The following is a summary of marketable securities at June 30, 2024 and December 31, 2023 (in thousands):


	June 30, 2024
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Estimated Fair Values
Marketable securities
Commercial paper	$	11,154	$	—	$	(17	)	$	—	$	11,137
Corporate bonds and notes		16,687		7		(44	)		—		16,650
Treasury and agency notes and bills		3,481		—		(2	)		—		3,479
Total debt securities		31,322		7		(63	)		—		31,266
Money market funds		4,200		—		—			—		4,200
Total equity securities		4,200		—		—			—		4,200
Total marketable securities	$	35,522	$	7	$	(63	)	$	—	$	35,466
Reported in:
Cash and cash equivalents										$	7,469
Marketable securities										$	27,997
Total marketable securities										$	35,466


	December 31, 2023
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Estimated Fair Values
Marketable securities
Commercial paper	$	12,421	$	5	$	(4	)	$	—	$	12,422
Treasury and agency notes and bills		10,746		—		(1	)		—		10,745
Corporate bonds and notes		5,813		34		(2	)		—		5,845
Total debt securities		28,980		39		(7	)		—		29,012
Money market funds		5,778		—		—			—		5,778
Total equity securities		5,778		—		—			—		5,778
Total marketable securities	$	34,758	$	39	$	(7	)	$	—	$	34,790
Reported in:
Cash and cash equivalents										$	5,778
Marketable securities										$	29,012
Total marketable securities										$	34,790

At June 30, 2024 and December 31, 2023, the Company had $94.5 million and $83.6 million, respectively, in cash and cash equivalents and short-term investments. A portion of these amounts was held in marketable securities, as shown above. The remaining balances of $59.0 million and $48.8 million at June 30, 2024 and December 31, 2023, respectively, consisted of cash held in operating accounts not included in the tables above.

Debt Securities

The gross realized gains and losses on sales of marketable debt securities were immaterial during the three months and six months ended June 30, 2024 and 2023. Unrealized losses on AFS debt securities were immaterial as of June 30, 2024 and December 31, 2023. The Company evaluated whether the decline in fair value has resulted from credit losses or other factors and concluded these amounts were related to temporary fluctuations in value of AFS securities and were due primarily to changes in interest rates and market conditions of the underlying securities. The Company did not recognize a provision for credit losses related to its AFS debt securities during the three months and six months ended June 30, 2024 and 2023, respectively.


	Amortized Cost		Estimated Fair Value
Due in one year or less	$	17,597	$	17,571
Due in one to two years		8,202		8,182
Due in two to three years		5,523		5,513
Total	$	31,322	$	31,266

Fair Value - Schedule of Carrying Amounts and Estimated Fair Values (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total long-term debt, net - Carrying Amount	$ 535,610	$ 585,695
Recurring
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total long-term debt, net - Carrying Amount	535,610	585,695
Total long-term debt, net - Estimated Fair Value	534,940	584,231
Recurring \| 2021 Refinanced Term Loan B
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total long-term debt, net - Carrying Amount	0	585,695
Total long-term debt, net - Estimated Fair Value	0	584,231
Recurring \| 2024 Term Loan B
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total long-term debt, net - Carrying Amount	535,610	0
Total long-term debt, net - Estimated Fair Value	$ 534,940	$ 0

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Stock-Based Compensation Expense

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

NOTE 11 – STOCK-BASED COMPENSATION EXPENSE

The effect of recording stock-based compensation (“SBC”) expense for the three and six months ended June 30, 2024 and 2023 is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	1,093	$	736		1,902		1,330
Selling, general and administrative		5,499		3,820		9,835		6,866
Total stock-based compensation expense	$	6,592	$	4,556	$	11,737	$	8,196

There were no options granted during the three and six months ended June 30, 2024 and 2023.

The Company uses a Monte Carlo simulation to determine the grant date fair value of performance stock awards subject to market conditions, or market-based PSUs. The following assumptions were used to value the restricted stock units subject to market conditions granted during the six months ended June 30, 2024 and 2023:


	May 2024			May 2023			March 2023
Expected life (years)		3.0			3.0			3.0
Risk-free interest rate		4.5	%		3.6	%		4.5	%
Dividend yield		1.8	%		2.3	%		1.9	%
Expected volatility		57.0	%		63.3	%		68.5	%

Grants under the 2020 ESPP occur in June and December, as discussed in “Note 10 – Stockholders’ Equity”. The following assumptions were used to value the shares for these grants.


	June 2024			June 2023
Expected life (years)		2.0			2.0
Risk-free interest rate		4.8	%		4.3	%
Dividend yield		1.7	%		2.0	%
Expected volatility		57.0	%		63.5	%

Composition of Certain Financial Statement Captions - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Employee compensation and benefits	$ 5,230	$ 8,378
Accrued expenses	4,315	3,601
Current portion of guarantee	1,500	2,400
Current portion of operating lease liabilities	$ 382	$ 503
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total accrued liabilities	Total accrued liabilities
Accrued income taxes	$ 29	$ 325
Other	1,978	2,135
Total accrued liabilities	$ 13,434	$ 17,342

Leases - Schedule of Operating Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Fixed lease cost	$ 511	$ 539	$ 1,023	$ 1,110
Variable lease cost	207	146	482	297
Total operating lease cost	$ 718	$ 685	$ 1,505	$ 1,407

Fair Value (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured on Recurring Basis


	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Commercial paper - debt securities (1)	$	11,137	$	—	$	11,137	$	—
Corporate bonds and notes - debt securities (2)		16,650		—		16,650		—
Treasury and agency notes and bills - debt securities (1)		3,479		—		3,479		—
Money market funds - equity securities (3)		4,200		4,200		—		—
Total Assets	$	35,466	$	4,200	$	31,266	$	—

(1)

(2)

Reported as AFS debt securities in the Condensed Consolidated Balance Sheet.

(3)

Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet.


	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Commercial paper - debt securities (1)	$	12,422	$	—	$	12,422	$	—
Treasury and agency notes and bills - debt securities (1)		10,745		—		10,745		—
Corporate bonds and notes - debt securities (2)		5,845		—		5,845		—
Money market funds - equity securities (3)		5,778		5,778		—		—
Total Assets	$	34,790	$	5,778	$	29,012	$	—

(1)

(2)

Reported as AFS debt securities in the Condensed Consolidated Balance Sheet.

(3)

Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet.

Schedule of Carrying Amounts and Estimated Fair Values

The carrying amounts and estimated fair values are as follows (in thousands):


	June 30, 2024				December 31, 2023
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
2021 Refinanced Term Loan B (1)		—		—		585,695		584,231
2024 Term Loan B (1)		535,610		534,940		—		—
Total long-term debt, net	$	535,610	$	534,940	$	585,695	$	584,231

Revenue - Schedule of Revenue Disaggregated by Market Vertical (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue Recognition [Line Items]
Total revenue	$ 87,350	$ 83,217	$ 170,755	$ 200,524
Media Platform
Revenue Recognition [Line Items]
Total revenue	83,626	80,645	164,063	163,279
Semiconductor
Revenue Recognition [Line Items]
Total revenue	$ 3,724	$ 2,572	$ 6,692	$ 37,245

- Definition

+ References

+ Details

Composition of Certain Financial Statement Captions (Tables)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Current Assets

Other current assets consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Prepaid income taxes	$	3,561	$	3,752
Prepaid expenses		2,505		2,185
Prepaid insurance		707		1,123
Other		3,237		640
Total other current assets	$	10,010	$	7,700

Schedule of Property and Equipment, Net

Property and equipment, net, consisted of the following (in thousands):


	June 30, 2024			December 31, 2023
Equipment, furniture and other	$	16,821		$	17,267
Leasehold improvements		6,226			5,037
Total property and equipment		23,047			22,304
Less: accumulated depreciation and amortization		(16,343	)		(15,333	)
Total property and equipment, net	$	6,704		$	6,971

Schedule of Other Long Term Assets

Other long-term assets consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Long-term deferred tax assets	$	27,482	$	23,885
Other assets		3,604		4,361
Total other long-term assets	$	31,086	$	28,246

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Employee compensation and benefits	$	5,230	$	8,378
Accrued expenses		4,315		3,601
Current portion of guarantee (1)		1,500		2,400
Current portion of operating lease liabilities		382		503
Accrued income taxes		29		325
Other		1,978		2,135
Total accrued liabilities	$	13,434	$	17,342

(1) Refer to “Note 14 – Commitments and Contingencies” for further detail on the nature of the guarantee.

Schedule of Other Long-Term Liabilities

Other long-term liabilities consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Long-term portion of guarantee (1)	$	17,035	$	16,135
Other		2,052		1,975
Total other long-term liabilities	$	19,087	$	18,110

(1) Refer to “Note 14 – Commitments and Contingencies” for further detail on the nature of the guarantee.

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends paid on common stock, price per share	$ 0.05	$ 0.05	$ 0.1	$ 0.1

Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Computation of Net Income Per Share

The following table sets forth the computation of net income per share (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Numerator:
Net income	$	8,382	$	1,419	$	9,281	$	30,440

Denominator:
Weighted average shares of common stock outstanding		108,667		106,464		108,216		106,027
Add: Effect of dilutive securities associated with options		—		—		2		—
Add: Effect of dilutive securities associated with restricted stock awards and units		3,860		6,311		4,532		7,078
Add: Effect of dilutive securities associated with employee stock purchase program		9		—		7		—
Weighted average common shares - dilutive		112,536		112,775		112,757		113,105

Basic net income per share	$	0.08	$	0.01	$	0.09	$	0.29

Diluted net income per share	$	0.07	$	0.01	$	0.08	$	0.27

Anti-dilutive employee stock-based awards, excluded		1,306		1,816		788		613

Segment and Geographic Information - Additional Information (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 Customer	Jun. 30, 2023 Customer	Jun. 30, 2024 Segment Customer	Jun. 30, 2023 Customer	Dec. 31, 2023
Segment Reporting Information [Line Items]
Number of principal businesses segment \| Segment			1
Number of customers more than 10% of revenue \| Customer	2	3	2	3
Customer One \| Accounts Receivable \| Credit Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage (or more)			69.00%		42.00%
Customer Two \| Accounts Receivable \| Credit Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage (or more)					28.00%

Goodwill and Identified Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identified Intangible Assets

NOTE 7 – GOODWILL AND IDENTIFIED INTANGIBLE ASSETS

Goodwill

The carrying value of goodwill at June 30, 2024 and December 31, 2023 was $313.7 million. There were no changes to the carrying value of goodwill from January 1, through June 30, 2024. Goodwill at each reporting unit is evaluated for potential impairment annually, as of the beginning of the fourth quarter, and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The process of evaluating goodwill for potential impairment is subjective and requires significant estimates, assumptions and judgments particularly related to the identification of reporting units, the assignment of assets and liabilities to reporting units and estimating the fair value of each reporting unit. No impairment charges were recognized for the three months and six months ended June 30, 2024 and 2023.

Identified Intangible Assets

Identified intangible assets consisted of the following (in thousands):


	Average	June 30, 2024							December 31, 2023
	Life (Years)	Gross Assets		Accumulated Amortization			Net		Gross Assets		Accumulated Amortization			Net
Finite-lived intangible assets:
Acquired patents / core technology	3-10	$	661,336	$	(350,375	)	$	310,961	$	654,360	$	(323,261	)	$	331,099
Customer contracts and related relationships	3-9		155,900		(155,900	)		—		155,900		(139,827	)		16,073
Existing technology / content database	5-10		38,681		(38,681	)		—		38,681		(38,681	)		—
Trademarks/trade name	4-10		1,300		(1,300	)		—		1,300		(1,300	)		—
Total intangible assets		$	857,217	$	(546,256	)	$	310,961	$	850,241	$	(503,069	)	$	347,172

As of June 30, 2024, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands):


	Amounts
2024 (remaining 6 months)	$	27,201
2025		54,397
2026		54,263
2027		53,911
2028		48,868
Thereafter		72,321
Total	$	310,961

Debt - Schedule of Outstanding Amounts of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Line Of Credit Facility [Line Items]
Long-term debt, Gross	$ 549,111
Unamortized debt discount and issuance costs	(13,501)	$ (15,555)
Long-term debt	535,610	585,695
Less: current portion, net of debt discount and issuance costs	(24,753)	(66,145)
Long-term debt, net	510,857	519,550
2021 Refinanced Term Loan B
Line Of Credit Facility [Line Items]
Long-term debt, Gross	0	601,250
2024 Term Loan B
Line Of Credit Facility [Line Items]
Long-term debt, Gross	$ 549,111	$ 0

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Discontinued Operations - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue	$ 87,350,000	$ 83,217,000	$ 170,755,000	$ 200,524,000
Operating income	23,642,000	17,723,000	43,006,000	72,846,000
Goodwill impairment charges	$ 0	$ 0	$ 0	$ 0

- Definition

+ References

+ Details

Composition of Certain Financial Statement Captions - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid income taxes	$ 3,561	$ 3,752
Prepaid expenses	2,505	2,185
Prepaid insurance	707	1,123
Other	3,237	640
Total other current assets	$ 10,010	$ 7,700

Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle accounting standards update adoption date	Jun. 30, 2023
Change in accounting principle, accounting standards update, immaterial effect [true false]	true
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate202101Member

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

Leases - Schedule of Future Minimum Lease Payments and Related Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Lease Payments
2024 (remaining 9 months)	$ 162
2025	568
2026	2,069
2027	2,132
2028	1,887
Thereafter	7,772
Total lease payments	14,590
Less: imputed interest	(4,796)
Present value of lease liabilities:	9,794
Less: current obligations under leases (accrued liabilities)	382	$ 503
Noncurrent operating lease liabilities	$ 9,412	$ 9,730

Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenue disaggregated by recurring and non-recurring nature was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Recurring revenue	$	82,269	$	81,606	$	165,045	$	165,972
Non-recurring revenue		5,081		1,611		5,710		34,552
Total revenue	$	87,350	$	83,217	$	170,755	$	200,524

Revenue disaggregated by market vertical was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Media	$	83,626	$	80,645	$	164,063	$	163,279
Semiconductor		3,724		2,572		6,692		37,245
Total revenue	$	87,350	$	83,217	$	170,755	$	200,524

Schedule of Contract Assets

Contract assets were recorded in the Condensed Consolidated Balance Sheets as follows (in thousands):


	June 30, 2024		December 31, 2023
Unbilled contracts receivable	$	89,187	$	74,919
Other current assets		682		620
Long-term unbilled contracts receivable		63,943		73,843
Other long-term assets		932		1,007
Total contract assets	$	154,744	$	150,389

Schedule of Revenue Recognized in Period

The following table presents additional revenue and contract disclosures (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenue recognized in the period from:
Amounts included in deferred revenue at the beginning of the period	$	1,703	$	4,107	$	3,708	$	8,889
Performance obligations satisfied in previous periods (1)	$	4,864	$	1,131	$	5,076	$	1,884

Schedule of Remaining Performance Obligations


	As of June 30, 2024
Revenue from contracts with performance obligations expected to be satisfied in:
2024 (remaining 6 months)	$	81,267
2025		160,750
2026		63,986
2027		50,145
2028		43,256
Thereafter		59,649
Total	$	459,053

Commitments and Contingencies - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Oct. 01, 2022
Commitments And Contingencies Disclosure [Line Items]
Total purchase commitments	$ 3,000,000		$ 3,000,000
Purchase commitments remainder of 2024	1,200,000		1,200,000
Purchase commitments due in 2025	1,600,000		1,600,000
Purchase commitments due thereafter	200,000		200,000
Guarantee liability	18,500,000		18,500,000		$ 18,500,000
Maximum potential amount of future payments subject to guarantee	7,500,000		$ 7,500,000
Guarantor obligations potential amount of future payments start year			2024
Guarantor obligations potential amount of future payments end year			2031
Guarantee Payment	$ 0	$ 600,000	$ 0	$ 1,100,000
Other income				300,000
Accrued estimated expense reimbursement		$ 2,800,000		$ 2,800,000		$ 2,500,000
Cross Business Agreement
Commitments And Contingencies Disclosure [Line Items]
Guarantee liability							$ 19,700,000

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 66,454	$ 54,560
Marketable securities	27,997	29,012
Accounts receivable, net of allowance for credit losses of $713 and $1,463, respectively	25,735	39,651
Unbilled contracts receivable, net	89,187	74,919
Other current assets	10,010	7,700
Total current assets	219,383	205,842
Long-term unbilled contracts receivable	63,943	73,843
Property and equipment, net	6,704	6,971
Operating lease right-of-use assets	9,121	9,484
Intangible assets, net	310,961	347,172
Goodwill	313,660	313,660
Long-term income tax receivable	113,816	120,338
Other long-term assets	31,086	28,246
Total assets	1,068,674	1,105,556
Current liabilities:
Accounts payable	4,788	9,623
Accrued legal fees	3,317	1,796
Accrued liabilities	13,434	17,342
Current portion of long-term debt	24,753	66,145
Deferred revenue	26,931	7,132
Total current liabilities	73,223	102,038
Deferred revenue, less current portion	15,113	17,672
Long-term debt, net	510,857	519,550
Noncurrent operating lease liabilities	9,412	9,730
Long-term income tax payable	81,846	81,834
Other long-term liabilities	19,087	18,110
Total liabilities	709,538	748,934
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock: $0.001 par value; (2024: authorized 15,000 shares; 2023: authorized 15,000 shares and no shares issued and outstanding)
Common stock: $0.001 par value; (2024: authorized 350,000 shares, issued 122,992 shares, outstanding 108,854 shares; 2023: authorized 350,000 shares, issued 120,730 shares, outstanding 107,384 shares)	123	121
Additional paid-in capital	637,752	635,331
Treasury stock at cost (2024: 14,138 shares; 2023: 13,346 shares)	(231,599)	(222,497)
Accumulated other comprehensive loss	(96)	(8)
Accumulated deficit	(47,044)	(56,325)
Total stockholders' equity	359,136	356,622
Total liabilities and equity	$ 1,068,674	$ 1,105,556

Revenue - Schedule of Revenue Recognized in Period (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Amounts included in deferred revenue at the beginning of the period	$ 1,703	$ 4,107	$ 3,708	$ 8,889
Performance obligations satisfied in previous periods	$ 4,864	$ 1,131	$ 5,076	$ 1,884

Goodwill and Identified Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining 6 months)	$ 27,201
2025	54,397
2026	54,263
2027	53,911
2028	48,868
Thereafter	72,321
Finite-lived intangible assets, Net	$ 310,961	$ 347,172

Financial Instruments - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Marketable Securities [Line Items]
Debt securities, Cost	$ 31,322	$ 28,980
Debt securities, Gross Unrealized Gains	7	39
Debt securities, Gross Unrealized Losses	(63)	(7)
Debt securities, Allowance for Credit Losses	0	0	$ 0
Debt securities, Estimated Fair Values	31,266	29,012
Equity securities, Cost	4,200	5,778
Equity securities, Gross Unrealized Gains	0	0
Equity securities, Gross Unrealized Losses	0	0
Equity securities, Allowance for Credit Losses	0	0
Equity securities, Estimated Fair Values	4,200	5,778
Marketable securities, Cost	35,522	34,758
Marketable securities, Gross Unrealized Gains	7	39
Marketable securities, Gross Unrealized Losses	(63)	(7)
Marketable securities, Allowance for Credit Losses	0	0
Marketable securities, Estimated Fair Values	35,466	34,790
Corporate bonds and notes
Marketable Securities [Line Items]
Debt securities, Cost	16,687	5,813
Debt securities, Gross Unrealized Gains	7	34
Debt securities, Gross Unrealized Losses	(44)	(2)
Debt securities, Allowance for Credit Losses	0	0
Debt securities, Estimated Fair Values	16,650	5,845
Treasury and agency notes and bills
Marketable Securities [Line Items]
Debt securities, Cost	3,481	10,746
Debt securities, Gross Unrealized Gains	0	0
Debt securities, Gross Unrealized Losses	(2)	(1)
Debt securities, Allowance for Credit Losses	0	0
Debt securities, Estimated Fair Values	3,479	10,745
Commercial paper
Marketable Securities [Line Items]
Debt securities, Cost	11,154	12,421
Debt securities, Gross Unrealized Gains	0	5
Debt securities, Gross Unrealized Losses	(17)	(4)
Debt securities, Allowance for Credit Losses	0	0
Debt securities, Estimated Fair Values	11,137	12,422
Money market funds
Marketable Securities [Line Items]
Equity securities, Cost	4,200	5,778
Equity securities, Gross Unrealized Gains	0	0
Equity securities, Gross Unrealized Losses	0	0
Equity securities, Allowance for Credit Losses	0	0
Equity securities, Estimated Fair Values	4,200	5,778
Cash and cash equivalents
Marketable Securities [Line Items]
Marketable securities, Estimated Fair Values	7,469	5,778
Available-for-sale debt securities
Marketable Securities [Line Items]
Marketable securities, Estimated Fair Values	$ 27,997	$ 29,012

Composition of Certain Financial Statement Captions - Schedule of Other Long Term Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term deferred tax assets	$ 27,482	$ 23,885
Other assets	3,604	4,361
Total other long-term assets	$ 31,086	$ 28,246

Leases - Additional Information (Details)	6 Months Ended
Leases - Additional Information (Details)	Jun. 30, 2024
Lessee Lease Description [Line Items]
Lease expiration year	2032
Operating lease existence of option to terminate	true
Operating lease existence of option to extend	true
Operating lease description	The Company’s leases have remaining lease terms of one to eight years, some of which may include options to extend the leases for five years or longer, and some of which may include options to terminate the leases within the next five years or less. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets;
Minimum
Lessee Lease Description [Line Items]
Remaining lease term	1 year
Lessee term of period to extend	5 years
Maximum
Lessee Lease Description [Line Items]
Remaining lease term	8 years