Xperi Raises 2022 Guidance by $10M on Resolved Contract Dispute

Xperi announced Thursday a $10 million increase in annual revenue and operating cash flow guidance for 2022 due to a resolved contract dispute with a customer. Revenue guidance is now $920 million-$960 million for the year ending Dec. 30 with cash flow guidance of $210 million-$240 million, the company said. Xperi's FotoNation subsidiary filed a request for arbitration in January 2020 against a mobile imaging customer for breach of contract. In settling the arbitration, Xperi signed an agreement that resolves all outstanding disputes, provides an upfront payment to Xperi for past licensing fees and requires additional license fees and payments to the company over the next few years, it said.