# Xperi Inc. (XPER)

Informational only - not investment advice.

CIK: 0001788999
SIC: 7372 Services-Prepackaged Software
SIC breadcrumb: [Services](/division/I/) > [Business Services](/major-group/73/) > [SIC 7372 Services-Prepackaged Software](/industry/7372/)
Latest 10-K filed: 2026-02-26
SEC page: https://www.sec.gov/edgar/browse/?CIK=1788999
Filing source: https://www.sec.gov/Archives/edgar/data/1788999/000119312526076849/xper-20251231.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-02-26 · accession 0001193125-26-076849 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001788999.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 448,105,000 USD | 2025 | verified |
| Net income | -56,339,000 USD | 2025 | verified |
| Assets | 615,829,000 USD | 2025 | verified |
| Free cash flow | -5,899,000 USD | 2025 | computed |
| Net margin | -12.57% | 2025 | computed |
| Operating margin | -9.76% | 2025 | computed |
| Revenue YoY | -9.23% | 2025 | computed |
| ROE | -13.61% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | XPER | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | -12.6% | 1.5% | 20 | 122 |
| Operating margin | -9.8% | 1.3% | 25 | 121 |
| Revenue growth | -9.2% | 13.5% | 7 | 124 |
| FCF margin | -1.3% | 19.3% | 10 | 120 |
| ROE | -13.6% | 2.0% | 22 | 112 |
| ROA | -9.1% | 0.9% | 19 | 124 |
| Liabilities / equity | 0.49 | 0.91 | 22 | 113 |
| Current ratio | 2.42 | 1.57 | 77 | 124 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 7372 Services-Prepackaged Software, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 448105000 | USD | 2025 | 2026-02-26 |
| Net income | -56339000 | USD | 2025 | 2026-02-26 |
| Assets | 615829000 | USD | 2025 | 2026-02-26 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-26. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001788999.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue |  | 376,101,000 | 486,483,000 | 502,260,000 | 521,334,000 | 493,688,000 | 448,105,000 |
| Net income |  | -138,327,000 | -175,622,000 | -757,484,000 | -136,613,000 | -14,008,000 | -56,339,000 |
| Operating income |  | -152,563,000 | -161,828,000 | -749,432,000 | -129,637,000 | -87,075,000 | -43,731,000 |
| Diluted EPS |  | -3.29 | -4.18 | -18.02 | -3.18 | -0.31 | -1.23 |
| Operating cash flow |  | -23,777,000 | -23,453,000 | -28,445,000 | 62,000 | -55,340,000 | -515,000 |
| Capital expenditures |  | 6,601,000 | 8,893,000 | 13,103,000 | 6,815,000 | 5,043,000 | 5,384,000 |
| Share buybacks |  |  |  |  | 0.00 | 19,990,000 | 0.00 |
| Assets |  |  | 1,228,712,000 | 736,911,000 | 673,635,000 | 667,760,000 | 615,829,000 |
| Liabilities |  |  | 212,755,000 | 287,925,000 | 286,500,000 | 238,683,000 | 201,754,000 |
| Stockholders' equity | 713,970,000 | 1,080,183,000 | 1,015,957,000 | 448,986,000 | 387,135,000 | 429,077,000 | 414,075,000 |
| Cash and cash equivalents |  |  | 120,695,000 | 160,127,000 | 142,085,000 | 130,564,000 | 96,824,000 |
| Free cash flow |  | -30,378,000 | -32,346,000 | -41,548,000 | -6,753,000 | -60,383,000 | -5,899,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin |  | -36.78% | -36.10% |  | -26.20% | -2.84% | -12.57% |
| Operating margin |  | -40.56% | -33.26% | -149.21% | -24.87% | -17.64% | -9.76% |
| Return on equity |  | -12.81% | -17.29% | -168.71% | -35.29% | -3.26% | -13.61% |
| Return on assets |  |  | -14.29% | -102.79% | -20.28% | -2.10% | -9.15% |
| Liabilities / equity |  |  | 0.21 | 0.64 | 0.74 | 0.56 | 0.49 |
| Current ratio |  |  | 2.31 | 2.21 | 1.92 | 1.64 | 2.42 |

## As-reported value updates

2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/XPER/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-06. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001788999.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | -9.54 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | -0.76 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  | -38,395,000 | -0.90 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 130,390,000 | -41,426,000 | -0.96 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 137,233,000 | -24,792,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-31 | 118,844,000 | -13,120,000 | -0.29 | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 119,591,000 | -30,299,000 | -0.67 | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 132,891,000 | -16,805,000 | -0.37 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 122,362,000 | 46,216,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-31 | 114,033,000 | -18,366,000 | -0.41 | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 105,933,000 | -14,781,000 | -0.32 | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 111,632,000 | -6,107,000 | -0.13 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 116,507,000 | -17,085,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-31 | 114,206,000 |  | -0.17 | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 114,492,000 | -1,500,000 | -0.03 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from XPER's latest 10-K: [/company/XPER/business/](/company/XPER/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from XPER's latest 10-K: [/company/XPER/risk-factors/](/company/XPER/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1788999/000178899926000018/xper-20260630.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-06
Report date: 2026-06-30

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis is intended to promote understanding of our results of operations and financial condition and should be read in conjunction with the attached unaudited condensed consolidated financial statements and notes thereto, and with our audited financial statements and notes thereto for the fiscal year ended December 31, 2025 found in our Form 10-K filed by Xperi Inc. (“Xperi,” the “Company” “we,” “us,” “our,” and similar references) on February 26, 2026 (our “Form 10-K”).

Business Overview

We are a leading media and entertainment technology company. Our technologies are integrated into consumer devices, connected cars, and a variety of media platforms worldwide, enabling our unique audiences to connect with entertainment content in a more intelligent, immersive, and personal way. As our audiences engage with content on our platforms, we operate a global, cross-screen advertising solution that enables brands to reach millions of engaged consumers across our rapidly expanding digital entertainment ecosystem, driving increased value for our partners, customers, and consumers. We operate in one reportable business segment and group our revenue into four categories: Pay-TV, Consumer Electronics, Connected Car and Media Platform. Headquartered in Silicon Valley with operations around the world, we have approximately 1,380 employees and more than 35 years of operating experience.

Macroeconomic Conditions

Macroeconomic conditions, including geopolitical conflicts in the Middle East, disruptions in global energy supplies, memory chip shortages, inflationary pressures, elevated interest rates, recessionary risks, volatility in financial and credit markets, changes in economic policy, reduced discretionary spending, tariffs, and global supply chain disruptions, have adversely affected, and may continue to adversely affect, our business and the business of our customers. While we closely monitor these developments and adjust our strategies where appropriate, the extent and duration of their impact on our business, operating results, and financial condition remain uncertain.

Restructuring Activities

In November 2025, we approved a restructuring plan designed to improve cost efficiency and better align our operating structure with our long-term strategies and prevailing market conditions. The plan involved a reduction of approximately 250 employees across all business and functional areas and became effective immediately. In connection with this plan, we incurred restructuring and related charges of $13.9 million and $0.3 million in the fourth quarter of 2025 and the first half of 2026, respectively, substantially all of which consisted of employee severance and related costs. As of June 30, 2026, the remaining amount of accrued restructuring charges was immaterial. Upon completion, we estimate that the reductions will generate annualized savings in the range of approximately $30 million to $35 million. For further information, refer to Note 14—Restructuring of the notes to condensed consolidated financial statements.

30

Results of Operations

The following table presents our historical operating results for the periods indicated as a percentage of revenue:

[[GREPCENT_TABLE]]
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[[/GREPCENT_TABLE]]

Comparison of the Three and Six Months Ended June 30, 2026 and 2025

Revenue

We generate revenue primarily through the licensing of our technologies and solutions and the monetization of our global, cross-screen advertising platform. While licensing revenue continues to represent a significant portion of our total revenue, advertising and related revenue has grown substantially in recent periods, driven by the expansion of our advertising ecosystem and ongoing enhancements to our advertising products and capabilities. For a discussion of our revenue recognition policies and a description of our revenue-generating activities, see Note 2—Revenue to the unaudited condensed consolidated financial statements.

[[GREPCENT_TABLE]]
[["","","Three Months Ended June 30,"],["","","2026","","","2025","","","$ Change","","","% Change"],["","","(dollars in thousands)"],["Licensing and other revenue","","$","99,510","","","$","96,207","","","$","3,303","","","","3","%"],["Advertising and related revenue","","","14,982","","","","9,726","","","","5,256","","","","54","%"],["Total revenue","","$","114,492","","","$","105,933","","","$","8,559","","","","8","%"]]
[[/GREPCENT_TABLE]]

Licensing and other revenue increased by $3.3 million, or 3%, for the three months ended June 30, 2026 compared to the same period in the prior year. The increase was primarily driven by a $15.0 million increase in Connected Car revenue, mainly due to higher minimum guarantee (“MG”) revenue from HD Radio and music metadata. This increase was partially offset by a $6.5 million decrease in Consumer Electronics revenue, primarily due to the absence of certain MG and settlement revenue recognized in the prior-year period, and a $5.3 million decrease in Pay-TV revenue, primarily reflecting declines in core guide products and related subscription revenue, partially offset by growth in TiVo video-over-broadband (“IPTV”) solutions.

Advertising and related revenue increased by $5.3 million, or 54%, for the three months ended June 30, 2026 compared to the same period in the prior year. The increase was primarily attributable to growth in ad impressions delivered, driven by continued expansion of TiVo One platform users, expanded advertising partnerships, and enhancements to our advertising products and services.

31

[[GREPCENT_TABLE]]
[["","","Six Months Ended June 30,"],["","","2026","","","2025","","","$ Change","","","% Change"],["","","(dollars in thousands)"],["Licensing and other revenue","","$","206,357","","","$","204,229","","","$","2,128","","","","1","%"],["Advertising and related revenue","","","22,341","","","","15,737","","","","6,604","","","","42","%"],["Total revenue","","$","228,698","","","$","219,966","","","$","8,732","","","","4","%"]]
[[/GREPCENT_TABLE]]

Licensing and other revenue increased by $2.1 million, or 1%, for the six months ended June 30, 2026 compared to the same period in the prior year. The increase was primarily driven by a $19.7 million increase in Connected Car revenue, mainly due to higher MG revenue from HD Radio, and a $2.5 million increase within Media Platform primarily due to middleware licensing. These increases were partially offset by a $10.9 million decrease in Consumer Electronics revenue, primarily due to the absence of certain MG and settlement revenue recognized in the prior-year period, as well as memory-related challenges in certain end product categories, and a $9.2 million decrease in Pay-TV revenue, primarily reflecting declines in core guide products and related subscription revenue, partially offset by growth in IPTV.

Advertising and related revenue increased by $6.6 million, or 42%, for the six months ended June 30, 2026 compared to the same period in the prior year. The increase was primarily attributable to growth in ad impressions delivered, driven by continued expansion of TiVo One platform users, expanded advertising partnerships, and enhancements to our advertising products and services.

Operating Expenses

[[GREPCENT_TABLE]]
[["","","Three Months Ended June 30,"],["","","2026","","","2025","","","$ Change","","","% Change"],["","","(dollars in thousands)"],["Cost of licensing and other revenue, excluding depreciation and amortization of intangible assets","","$","19,829","","","$","22,128","","","$","(2,299",")","","","(10",")%"],["Cost of advertising and related revenue, excluding depreciation and amortization of intangible assets","","","16,241","","","","11,421","","","","4,820","","","","42","%"],["Research and development","","","21,806","","","","29,783","","","","(7,977",")","","","(27",")%"],["Selling, general and administrative","","","41,463","","","","41,142","","","","321","","","","1","%"],["Depreciation expense","","","3,951","","","","3,448","","","","503","","","","15","%"],["Amortization expense","","","8,092","","","","9,144","","","","(1,052",")","","","(12",")%"],["Impairment of long-lived assets","","","197","","","","\u2014","","","","197","","","NM"],["Total operating expenses","","$","111,579","","","$","117,066","","","$","(5,487",")","","","(5",")%"]]
[[/GREPCENT_TABLE]]

NM - Not meaningful. Amount is immaterial and no further disclosure is considered necessary.

[[GREPCENT_TABLE]]
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[[/GREPCENT_TABLE]]

NM - Not meaningful. Amount is immaterial and no further disclosure is considered necessary.

32

Cost of Licensing and Other Revenue, Excluding Depreciation and Amortization of Intangible Assets

Cost of licensing and other revenue, excluding depreciation and amortization of intangible assets, consists primarily of employee-related costs, content and data costs, royalties paid to third parties, hosting fees, service center expenses, maintenance costs and an allocation of facilities costs, as well as other expenses related to provi

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1788999/000119312526076849/xper-20251231.htm
Complete FY 2025 MD&A: /company/XPER/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-02-26
Report date: 2025-12-31

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis is intended to promote understanding of the results of operations and financial condition and should be read in conjunction with our consolidated financial statements and notes thereto. This discussion may contain forward-looking statements that reflect the plans, estimates and beliefs of Xperi. The words “expects,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “could,” “would,” “may,” “will,” “intends,” “potentially,” “projects,” “targets,” or other words of similar meaning and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those set forth under Item 1A, “Risk Factors” and elsewhere in this report. We disclaim and do not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law.

This section of Form 10-K generally discusses 2025 and 2024 items and year-to-year comparisons between 2025 and 2024. Discussions of 2023 items and year-to-year comparisons between 2024 and 2023 that are not included in this Form 10-K can be found in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of the Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025, which is available free of charge on the SEC’s website at www.sec.gov and our Investor Relations website at investor.xperi.com.

Business Overview

We are a leading media and entertainment technology company. Our technologies are integrated into consumer devices, connected cars, and a variety of media platforms worldwide, enabling our unique audiences to connect with entertainment content in a more intelligent, immersive, and personal way. As our audiences engage with content on our platform, we operate a global, cross-screen advertising solution that enables brands to reach millions of engaged consumers across our rapidly expanding digital entertainment ecosystem, driving increased value for our partners, customers, and consumers. We operate in one reportable business segment and group our revenue into four categories: Pay-TV, Consumer Electronics, Connected Car and Media Platform. Headquartered in Silicon Valley with operations around the world, we have approximately 1,460 employees and more than 35 years of operating experience.

Divestitures

In December 2023, we entered into a definitive agreement with Tobii AB, an eye tracking and attention computing company, pursuant to which we agreed to sell our AutoSense in-cabin safety business and related imaging solutions (the “AutoSense Divestiture”). The AutoSense Divestiture was completed in January 2024 and has streamlined our business and further enhanced our focus on entertainment markets.

In August 2024, we entered into an Asset Purchase Agreement with Amazon.com Services LLC to sell substantially all of the assets and certain liabilities of Perceive Corporation (“Perceive”, later known as Xperi Pylon Corporation and subsequently dissolved in December 2024), a subsidiary focused on edge inference hardware and software technologies, for a gross amount of $80.0 million in cash, including a holdback of $12.0 million to be held for 18 months after the closing of the transaction (the “Perceive Transaction”) to secure our and Perceive’s indemnification obligations. The Perceive Transaction was completed in October 2024, allowing us to be fully focused on entertainment-based solutions to grow our independent media platform and licensing businesses.

Macroeconomic Conditions

Macroeconomic conditions—including rising inflation and interest rates, recessionary concerns, financial and credit market volatility, shifts in economic policy, reduced discretionary spending by consumers and businesses, tariffs, and global supply chain disruptions—have adversely affected, and may continue to affect, our business and that of our customers. While we remain committed to closely monitoring these macroeconomic developments and intend to adapt our business strategies as needed, the ultimate impact on our business, operating results, and financial condition remains uncertain.

Restructuring Activities

In November 2025, we approved a restructuring plan designed to improve cost efficiency and better align our operating structure with our long-term strategies and prevailing market conditions. The plan involved a reduction of approximately 250 employees across all business and functional areas and became effective immediately. In connection with this plan, we incurred restructuring and related charges of $13.9 million in 2025, substantially all of which consisted of employee severance and related costs. These charges are reflected within cost of revenue (excluding depreciation and amortization of intangible assets),

51

research and development, and selling, general and administrative expenses in our Consolidated Statements of Operations. We expect to substantially complete the restructuring activities by the end of the first half of 2026. Upon completion, we estimate that the reductions will generate annualized savings in the range of approximately $30 million to $35 million. For further information, refer to Note 15—Restructuring Activities of the Notes to Consolidated Financial Statements.

Results of Operations

The following table presents our historical operating results for the periods indicated as a percentage of revenue:

[[GREPCENT_TABLE]]
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[[/GREPCENT_TABLE]]

Comparison of Fiscal Years Ended December 31, 2025 and 2024

Revenue

We derive the majority of our revenue from licensing our technologies and solutions to customers. For our revenue recognition policy including descriptions of revenue-generating activities, refer to Note 3—Revenue of the Notes to Consolidated Financial Statements.

The following table sets forth our revenue by year:

[[GREPCENT_TABLE]]
[["","","Year Ended December 31,"],["","","2025","","","2024","","","$ Change","","","% Change"],["","","(dollars in thousands)"],["Revenue","","$","448,105","","","$","493,688","","","$","(45,583",")","","","(9",")%"]]
[[/GREPCENT_TABLE]]

Revenue decreased by $45.6 million, or 9%, for the year ended December 31, 2025 compared to the prior year, primarily due to a $54.0 million decline in Pay‑TV revenue and the impact of the AutoSense and Perceive divestitures. The decrease in Pay‑TV revenue was driven by lower revenue from core guide products, principally due to higher minimum guarantee (“MG”) revenue recognized in the prior year, as well as lower consumer hardware and related subscription revenue as certain products reached end of life in 2025. These decreases were partially offset by continued growth in IPTV solutions.

The overall decline was partially mitigated by a $13.2 million increase in Connected Car revenue, primarily reflecting higher MG and licensing revenue related to HD Radio. This increase was offset in part by a reduction in Audio Solutions revenue due to the absence of certain MG revenue recognized in the prior year.

52

Operating Expenses

[[GREPCENT_TABLE]]
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[[/GREPCENT_TABLE]]

Cost of Revenue, Excluding Depreciation and Amortization of Intangible Assets

Cost of revenue, excluding depreciation and amortization of intangible assets, consists primarily of employee-related costs, royalties paid to third parties, hardware product-related costs, content and data costs, hosting fees, maintenance costs and an allocation of facilities costs, as well as service center and other expenses related to providing our offerings, and non-recurring engineering (“NRE”) services.

Cost of revenue, excluding depreciation and amortization of intangible assets, for the year ended December 31, 2025 was $126.6 million, as compared to $113.8 million for the year ended December 31, 2024, an increase of $12.8 million, or 11%. The increase was primarily driven by higher costs associated with advertising revenue and increased personnel-related expenses.

Research and Development

Research and development (“R&D”) costs consist primarily of employee-related costs, stock-based compensation (“SBC”) expense, engineering consulting expenses associated with new product and technology development, product commercialization, quality assurance and testing costs, as well as other costs related to patent applications and examinations, materials, supplies, and an allocation of facilities costs. Other than certain software development costs that are capitalized, all research and development costs are expensed as incurred.

R&D expense for the year ended December 31, 2025 was $135.1 million as compared to $191.4 million for the year ended December 31, 2024, a decrease of $56.3 million, or 29%. The decrease was primarily attributable to a reduction in R&D headcount, reduced expenses associated with the Perceive Transaction, lower SBC and outside services costs, and lower R&D spending in the AutoSense in-cabin safety business and related imaging solutions following the AutoSense Divestiture.

Selling, General and Administrative

Selling expenses consist primarily of compensation and related costs (including SBC expense) for sales and marketing personnel engaged in sales and licensee support, marketing programs, public relations, promotional materials, travel, and trade shows. General and administrative expenses consist primarily of compensation and related costs (including SBC expense) for management, information technology, finance and legal personnel, legal fees and related expenses, facilities costs, and professional services. Our general and administrative expenses, other than facilities-related expenses and fringe benefits, are not allocated to other expense line items.

Selling, general and administrative expenses for the year ended December 31, 2025 were $181.9 million as compared to $218.1

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/XPER/mda/fy2025/
All MD&A years: /company/XPER/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/XPER/mda/fy2024/): filed 2025-02-27; accession 0000950170-25-029159 (https://www.sec.gov/Archives/edgar/data/1788999/000095017025029159/xper-20241231.htm)
- [FY 2023 MD&A](/company/XPER/mda/fy2023/): filed 2024-03-01; accession 0000950170-24-023915 (https://www.sec.gov/Archives/edgar/data/1788999/000095017024023915/xper-20231231.htm)
- [FY 2022 MD&A](/company/XPER/mda/fy2022/): filed 2023-03-06; accession 0000950170-23-006053 (https://www.sec.gov/Archives/edgar/data/1788999/000095017023006053/xper-20221231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 7372 Services-Prepackaged Software) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity

Macro-to-micro threads including this sector: [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/XPER.md · JSON record: /company/XPER.json · verified financials: /company/XPER/financials.json / /company/XPER/financials.csv · machine TOC for the whole site: /llms.txt