Xperi Inc.

Good day, everyone. Thank you for standing by. Welcome to the Xperia first quarter 2026 earnings conference call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the call will be open for questions. I would now like to turn the call over to Sam Levinson from Arbor Advisory Group. Sam, please go ahead.

Thank you, Abby. Good afternoon. Thank you for joining us as Xperia reports its first quarter 2026 financial results. With me in today's call are John Kirshner, Chief Executive Officer, and Robert Anderson, Chief Financial Officer. In addition to today's earnings release, there's an earnings presentation on our investor relations website at expiry.investor.expiry.com. We encourage you to download the presentation and follow along with today's commentary. Before we begin, I would like to provide a few reminders. First, I'd like to note that unless otherwise stated, all comparisons are to the same period in the prior year. Second, today's discussion contains forward-looking statements about our anticipated business and financial performance that are predictions, projections, or other statements about future events, which are based on management's current expectations and beliefs, and therefore subject to risks, uncertainties, and changes in circumstances. For more information on the risks and uncertainties that could cause our actual results to differ materially from what we discussed today, please refer to the risk factors and the MD&A sections in our SEC filings, including our Form 10-K for the year ended December 31, 2025, and our Form 10-Q for the quarter ended March 31, 2026, to be filed with the SEC. Please note that the company does not intend to update or alter these forward-looking statements to reflect events or circumstances arising after this call. Third, we refer to certain non-GAAP financial measures which are detailed in the earnings release and accompanied by reconciliations that are most directly comparable GAAP measures which can be found in the Investor Relations section of our website. And last, a replay of this conference call will be available on our website shortly after the conclusion of this call. I'll now turn the call over to Xperia's CEO, John Kirshner.

Thank you, Sam, and thank you everyone for joining us on our first quarter 2026 earnings call. Overall, the first quarter results are evidence of the success we're achieving in delivering on our financial objectives, and the notable progress we've made in delivering on our monetization strategy that we outlined for the year. Let me first provide an overview of the progress we made during the quarter against our key goals and priorities, progress that gives us confidence in our ability to monetize our growing platform. During the quarter, our TiVo 1 footprint grew to exceed 5.5 million monthly active users, and our auto stage footprint grew to over 16 million vehicles globally. In addition to footprint growth, both our product feature set and ecosystem expanded, and we continued to add advertising partners and sellers to the TiVo One platform. Taken together, this progress combined to help us accelerate advertising monetization, resulting in media platform revenue growth of 45% year over year. We've also started to reap benefits from the strategic investments made over the past few years as evidenced by our results. Turning to our financial results for the quarter, I'm very pleased with a strong start to the year, which reflects both solid execution against our strategic plan and earlier than planned contract signings within CE and Connected Car. As I said, I'm particularly pleased with the progress we're making on driving monetization across our business. Given these results, we reaffirm the guidance we gave for the full year. Let me now go through each of our four business areas, starting with media platforms. We recorded 12 million of revenue for media platform in the quarter, reflecting year-over-year growth of 45%, primarily driven by growth and advertising monetization. We experienced progress through our direct sales programs as we continued to execute campaigns across our owned and operated inventory and also began to benefit from our new partnerships. As noted earlier, our footprint also continued to grow. as TiVo One monthly active users more than doubled year-over-year to 5.5 million. Just after the end of the quarter, we signed a multi-year partnership with Samba TV, a television technology company that offers real-time insights and audience analytics. Through this partnership, we're adding intelligence and measurement capabilities to TiVo One connected TV inventory. This collaboration bolsters our TiVo ads business by enriching our connected TV advertising platform with Samba's industry-leading data and analytics, thereby improving ad targeting and campaign performance measurement. The relationship expands TiVo's ad sales and measurement capabilities, and we believe positions the TiVo One ad platform as an even more valuable cross-screen advertising solution for advertisers and agencies seeking better CTV audience targeting and comprehensive campaign insights. Average revenue per user for TiVo 1 was $7.10, a slight decrease from the fourth quarter as over the trailing 12 months, the number of average monthly users grew faster than monetization revenue. As advertising monetization revenue accelerates, we expect ARPU to advance toward double-digit dollars in the second half of 2026. Moving to connected car, auto stage footprint expanded over 45% year-over-year, reaching over 16 million vehicles across 13 automotive brands. Just after quarter end, we launched AutoStage Broadcast Portal, a subscription service that we believe delivers unprecedented visibility and insights into audience behavior and listening metrics across 300 U.S. radio markets. In addition, we signed multi-year HD radio renewal agreements and launched HD radio and new models, including from Audi, Honda, Mercedes, and Toyota. We also continued to advance our connected car roadmap, including advanced sound features and expanding services that are expected to support broadcaster and OEM partner advertising monetization. Moving to our pay TV business, as noted earlier, our IPTV subscriber base continued to grow. increasing 19% year-over-year to reach 3.28 million subscriber households at quarter end. During the quarter, we signed the first agreements for new service offerings, such as programmatic dynamic ad insertion and our native digital rights management. In addition, we delivered an innovative 4K sports experience with multi-view capability to IPTV households for the Winter Olympics and Super Bowl. We also expanded our set-top box partnership with Kayon, and executed a multi-year discovery agreement with DirecTV. Moving to our consumer electronics business, during the quarter, we renewed DTS decoder and post-processing contracts with leading TV brands, including Vizio, Xiaomi, TCL, and a major U.S. retailer. We also entered into multi-year partnership with Tencent Music, China's leading music platform for DTS X encoding of its music catalog. Offering immersive audio is a premium feature to Tencent QQ Music subscribers. Overall, these renewals and partnerships support our focus on expanding the adoption of our consumer audio technologies. As we put our 2026 goals in context, we made strong progress toward our objectives in the first quarter. Our monthly active users on the TiVo One platform continued to grow, reaching 5.5 million at quarter end. more than doubling from the same period last year. We remain confident in reaching our target of over 7 million monthly active users by year-end. On the monetization front, Media Platform's 45% year-over-year revenue growth was driven primarily by growth in advertising monetization. As our ecosystem and advertiser engagement expands, we believe we have a clear plan to reach our goal of doubling revenue to over 80 million. Also, as monetization revenue from advertising and data sales continues to grow in line with our expectations, we expect the TiVo One annual revenue per user, or ARPU, to finish the year above $10. Lastly, we've seen some very exciting progress on AutoStage, our connected car platform. While Footprint continued to expand well past all of our original goals, We are now seeing clear demand among broadcasters and advertisers for the data coming off our platform. The first data license agreements are expected in the second quarter, with more to follow, and we plan to commence advertising trials with partners in the U.S. and Europe later this year. Overall, we remain very pleased with our start to 2026. Let me now turn the call over to Robert to discuss our financial results in more detail. Robert?