10 Best Emerging Tech Stocks to Buy Now

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8. Xperi Inc. (NYSE:XPER)

Market Capitalization as of September 11: $396.26 million

Number of Hedge Fund Holders: 23

Xperi Inc. (NYSE:XPER) is a multinational technology company that develops software for consumer electronics and connected cars, as well as media platforms for video service over broadband. It offers solutions in areas such as audio, video, and imaging technologies.

The company has 3 key growth areas: connected TV advertising, in-car entertainment, and video-over-broadband. Management believes that these markets will double in size over the next 5-7 years. The goal is to have 20 million monetizable endpoints by the end of 2025.

This includes 7 million devices connected to the platform by that time, 3 million IPTV households using the video-over-broadband solution, and DTS AutoStage in 10 million cars. These 20 million devices could generate nearly $200 million in additional revenue by 2026.

Total revenue for the second quarter of 2024 was approximately $119.59 million, down 5.74% from last year’s reported revenue. Pay TV, the largest revenue category, was up 5%. The Q2 increase was primarily driven by IPTV growth, which was up 45% year-over-year.

The loss per share was $0.67 and consumer electronics revenue declined by 40% due to large deals last year. Connected Car revenue increased by 41% due to a multi-year deal with an Asian automotive supplier. Media platform revenue declined by 25% due to a decline in advertising revenue.

Panasonic announced that they are Xperi Inc.’s (NYSE:XPER) sixth TiVo OS partner. Panasonic smart TVs powered by TiVo are now available in Europe. The company also signed a deal with a top 5 supplier of smart TVs in the US market (launch in next spring). Today, smart TVs powered by TiVo are available in 15 countries across Europe, including the largest economies under 17 different brands.

Xperi Inc. (NYSE:XPER) has successfully transformed its business, streamlining its product portfolio and improving its operations. These strategic initiatives have positioned the company for long-term growth and profitability. It is held by 23 hedge funds currently.

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