Xperi Inc. reported a continuation of declining revenue in FY2025, dropping 9.2% year-over-year to $448.1 million. Operating losses narrowed by nearly half, yet net income deteriorated due largely to restructuring charges. The company’s licensing model provides solid recurring royalty streams protected by litigation, but legal risks and contract enforcement challenges persist. A strategic restructuring plan initiated late in 2025 aims to optimize costs and improve operating efficiency, with estimated charges of $16-$18 million focused on workforce reductions. Despite headwinds, Xperi maintains healthy liquidity with a current ratio above 2 and over $96 million in cash reserves. Capital deployment has slowed significantly, with no share repurchases in 2025 following $20 million in buybacks in 2024.