Inside the Highly Anticipated Casa Dani, Now Open in Century City
One of Spain's most celebrated chefs, Dani Garcia, opened his former New York City restaurant Casa Dani inside the Westfield Century City, next to SBE sibling Katsuya, on July 25, 2025. With classic, upscale takes on traditional Spanish cuisine, Casa Dani has been one of the most anticipated new restaurant openings in Los Angeles this year. Expect ultra-thin paella topped with a roasted Cornish game hen, paper-thin Andalusian tuna carpaccio doused with fruity olive oil, and a cheese-laden wagyu beef burger that should draw plenty of attention on social media.
Sam Nazarian's SBE and Dani Garcia will take a page from New York and offer all-day service with a reasonable $39 three-course prix fixe menu that should cater to office workers and locals. The menu has more than two dozen selections of Spanish and California-inflected dishes, like avocado and bluefin tartare, paccheri alla vodka, chorizo and aji empanadas, and grilled sea bass (note that like half the options come with additional charges). Finish the lunch prix fixe with roasted pineapple with passionfruit yogurt or caramelized rice pudding. A full a la carte lunch menu offers flexibility too, including iberico ham sandwiches in tomato bread or half-sized vegetable or seafood paellas.
Casa Dani's wagyu beef burger.
For dinner, there's more of a focus on luxe ingredients. Tuna is prepared four ways in dishes including the famed porterhouse tuna carpaccio, tuna croquettes, and a duo of tartares with pickled vegetable relish. Only larger-sized paellas are offered in the evenings, which should easily feed two people. A 32-ounce bone-in Australian wagyu rib-eye comes with two sides to conjure a Basque-style beef experience. The entire menu balances an LA-centric desire for raw fish and locally sourced vegetables with some Italian pastas (bucatini Bolognese, paccheri alla vodka), and steakhouse-style grilled mains. The evening dessert menu features burnt Basque cheesecake that's become ubiquitous in Los Angeles, plus yuzu flan and chocolate mousse with vanilla chantilly. Frescor Andalusí, one of the chef's signature desserts, is also on the menu, with orange blossom ice cream, pistachio cake, and jasmine. It's all versatile and easy with a certain amount of polish, one would expect from a chef with multiple Michelin-starred restaurants.
To drink, expect modern takes on Spanish cocktails like a grapefruit-tinted gin and tonic and an olive oil-laden martini with thyme and peppercorns. Wines are sourced from California, Spain, and France, with a solid set of sherry and port.
Casa Dani's interior greatly resembles the modern European vibes of the New York original, with natural tones and surfaces, recalling posh neighborhoods of Mexico City with pops of leafy greens, and appealing green ceramic cups to contrast the camel leather chairs. Toward the open kitchen, a shelf of chilled shellfish, branzino, and snapper signals the restaurant's strength in the seafood department. It should draw plenty of tourists and Westside residents alike looking for buttoned-up Spanish fare in the familiar confines of Westfield Century City.
Casa Dani is open daily from 11:30 a.m. to 3 p.m., and then from 4:30 p.m. to 10 p.m. It's located at 10250 Santa Monica Boulevard, Suite 1799, Los Angeles, CA, 90067. Reservations are available on Resy.
The sleek dining room of Casa Dani in Los Angeles.
Greenery and curtains surround the dining area of Casa Dani in Los Angeles.
Traditional tiling on the ground.
Brown leather chairs and hanging lamps at Casa Dani.
Plants and green colored ceramics at the tables.
Fresh seafood at Casa Dani in Los Angeles's Westfield Century City mall.
Heat lamps over the kitchen pass at Casa Dani.
Spanish tortilla.
Empanadas with aji.
Dropping olive oil into a cocktail.
A gin and tonic with grapefruit.
Roasted pineapple dessert.
A paella with Cornish game hen and herbs.
Thin shaving of tuna carpaccio with olive oil.
Tuna carpaccio.
Casa Dani in Westfield Century City.
Outside Casa Dani in Los Angeles.
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Second Quarter Financial Highlights Revenue was $85.7 million as compared to $87.7 million in the first quarter of 2025 GAAP diluted earnings per share (EPS) was $0.15 and non-GAAP diluted EPS was $0.25 GAAP net income was $16.7 million and adjusted EBITDA was $45.7 million Cash from operations was $23.1 million Paid down $11.1 million on our term loan Business Highlights Signed a new multi-year license agreement with ST Microelectronics, a global leader in analog and digital semiconductors, for access to our semiconductor portfolio Signed a multi-year renewal with a popular domestic OTT streaming service, for access to our media portfolio Signed multi-year license agreements with two new e-commerce customers, including Warby Parker, a rapidly growing eyeglass retailer, for access to our media portfolio Signed a multi-year renewal with a domestic pay-TV provider, for access to our media portfolio Introduced RapidCool, a revolutionary direct-to-chip liquid cooling technology for high performance semiconductors Capital Allocation During the quarter, the Company made $11.1 million in principal payments towards its term loan, bringing the outstanding balance to $458.9 million as of June 30, 2025. 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Financial Outlook The Company is reiterating its prior full-year 2025 revenue outlook, and updating certain other items of its financial outlook, including lower operating expenses: 2025GAAP Outlook 2025Non-GAAP Outlook Category (in millions, except for tax rate) Updated Prior Updated Prior Revenue $390.0 − 430.0 $390.0 − 430.0 $390.0 − 430.0 $390.0 − 430.0 Operating expenses(1) $261.0 − 271.0 $263.0 − 275.0 $160.0 − 166.0 $166.0 − 174.0 Interest expense $40.0 − 42.0 $41.0 − 43.0 $40.0 − 42.0 $41.0 − 43.0 Other income $5.5 − 6.5 $4.0 − 4.5 $5.5 − 6.5 $4.0 − 4.5 Tax rate 10.0% − 30.0% 15.0% − 30.0% 23.0% 23.0% Net income(2) $85.1 − 86.5 $76.5 − 81.6 $150.5 − 175.9 $144.0 − 167.5 Adjusted EBITDA(2) N/A N/A $232.1 − 266.1 $226.3 − 258.3 Diluted shares outstanding 112.0 − 113.0 113.0 − 114.0 112.0 − 113.0 113.0 − 114.0 (1) See tables for reconciliation of GAAP to non-GAAP operating expenses. 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These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company's current expectations, assumptions, estimates and projections that involve risks and uncertainties. In this context, forward-looking statements often address expected future business, financial performance and financial condition, and often contain words such as 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'could,' 'seek,' 'see,' 'will,' 'may,' 'would,' 'might,' 'potentially,' 'estimate,' 'continue,' 'target,' similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond the Company's control, and are not guarantees of future results. 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Investor Contact: Chris ChaneyVice President, Investor Relations IR@ – Tables Follow – SOURCE: ADEIA ADEIA CONSOLIDATED STATEMENTS OF INCOME(in thousands, except per share amounts)(unaudited) Three Months Ended Six Months Ended June 30,2025 June 30,2024 June 30,2025 June 30,2024 Revenue $ 85,735 $ 87,350 $ 173,405 $ 170,755 Operating expenses: Research and development 15,857 14,799 32,324 28,724 Selling, general and administrative 32,129 24,617 60,561 48,646 Amortization expense 14,170 20,030 28,252 43,187 Litigation expense 7,174 4,262 13,028 7,192 Total operating expenses 69,330 63,708 134,165 127,749 Operating income 16,405 23,642 39,240 43,006 Interest expense (10,216 ) (13,296 ) (20,865 ) (27,471 ) Other income and expense, net 1,434 1,428 3,146 2,828 Loss on debt extinguishment — (453 ) — (453 ) Income before income taxes 7,623 11,321 21,521 17,910 Provision for (benefit from) income taxes (9,099 ) 2,939 (7,015 ) 8,629 Net income $ 16,722 $ 8,382 $ 28,536 $ 9,281 Net income per 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income $ 28,536 $ 9,281 Adjustments to reconcile net income to net cash from operating activities: Depreciation of property and equipment 997 1,010 Amortization of intangible assets 28,252 43,187 Stock-based compensation expense 16,944 11,737 Deferred income tax (4,917 ) (3,596 ) Loss on debt extinguishment — 453 Amortization of debt issuance costs 1,652 1,601 Other (230 ) (1,272 ) Changes in operating assets and liabilities: Accounts receivable 5,521 14,666 Unbilled contracts receivable 11,866 (4,368 ) Other assets (15,557 ) 5,331 Accounts payable (4,198 ) (2,864 ) Accrued and other liabilities 1,565 (1,716 ) Deferred revenue 9,825 17,240 Net cash provided by operating activities 80,256 90,690 Cash flows from investing activities: Purchases of property and equipment (420 ) (1,214 ) Purchases of intangible assets (5,350 ) (8,476 ) Purchases of short-term investments (12,989 ) (18,701 ) Proceeds from maturities of investments 12,600 20,150 Net cash used in investing activities (6,159 ) (8,241 ) Cash flows from financing activities: Principal payments on debt agreements (28,178 ) (10,853 ) Payments of dividends (10,857 ) (52,139 ) Proceeds from employee stock purchase program and exercise of stock options 1,392 1,539 Repurchases of common stock (11,326 ) — Repurchases of common stock for tax withholdings on equity awards (19,706 ) (9,102 ) Net cash used in financing activities (68,675 ) (70,555 ) Net increase in cash and cash equivalents 5,422 11,894 Cash and cash equivalents at beginning of period 78,825 54,560 Cash and cash equivalents at end of period $ 84,247 $ 66,454 ADEIA TO NON-GAAP RECONCILIATIONS(in thousands, except per share amounts)(unaudited) Net income Three Months Ended Six Months Ended June 30,2025 June 30,2024 June 30,2025 June 30,2024 GAAP net income $ 16,722 $ 8,382 $ 28,536 $ 9,281 Adjustments to GAAP net income: Stock-based compensation expense: Research and development 1,422 1,093 2,656 1,902 Selling, general and administrative 7,278 5,499 14,288 9,835 Amortization expense 14,170 20,030 28,252 43,187 Transaction costs recorded in selling, general and administrative 43 1,255 1,154 1,255 Separation and other related costs recorded in selling, general and administrative (1) 5,848 767 6,379 2,591 Total operating expenses adjustments 28,761 28,644 52,729 58,770 Loss on debt extinguishment — 453 — 453 Non-GAAP tax adjustment (2) (17,468 ) (6,357 ) (24,093 ) (9,111 ) Non-GAAP net income $ 28,015 $ 31,122 $ 57,172 $ 59,393 Diluted earnings per share Three Months Ended Six Months Ended June 30,2025 June 30,2024 June 30,2025 June 30,2024 GAAP diluted earnings per share $ 0.15 $ 0.07 $ 0.25 $ 0.08 Adjustments to GAAP diluted earnings per share: Stock-based compensation expense: Research and development 0.01 0.01 0.02 0.02 Selling, general and administrative 0.06 0.05 0.13 0.09 Amortization expense 0.13 0.18 0.25 0.38 Transaction costs recorded in selling, general and administrative — 0.01 0.01 0.01 Separation and other related costs recorded in selling, general and administrative (1) 0.05 0.01 0.06 0.02 Total operating expenses adjustments 0.25 0.26 0.47 0.52 Loss on debt extinguishment — — — — Non-GAAP tax adjustment (2) (0.15 ) (0.05 ) (0.21 ) (0.07 ) Non-GAAP diluted earnings per share $ 0.25 $ 0.28 $ 0.51 $ 0.53 (1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc. (2) The provision for income taxes is adjusted to reflect the net income tax effects of the various non-GAAP pretax adjustments. ADEIA NET INCOME TOADJUSTED EBITDA RECONCILIATION(in thousands)(unaudited) Three Months Ended Six Months Ended June 30,2025 June 30,2024 June 30,2025 June 30,2024 GAAP net income $ 16,722 $ 8,382 $ 28,536 $ 9,281 Adjustments to GAAP net income: Stock-based compensation expense: Research and development 1,422 1,093 2,656 1,902 Selling, general and administrative 7,278 5,499 14,288 9,835 Transaction costs recorded in selling, general and administrative 43 1,255 1,154 1,255 Separation and other related costs recorded in selling, general and administrative (1) 5,847 767 6,378 2,591 Amortization expense 14,170 20,030 28,252 43,187 Depreciation expense 488 490 997 1,010 Interest expense 10,216 13,296 20,865 27,471 Other income and expense, net (1,434 ) (1,428 ) (3,146 ) (2,828 ) Loss on debt extinguishment — 453 — 453 Provision for (benefit from) income taxes (9,099 ) 2,939 (7,015 ) 8,629 Adjusted EBITDA $ 45,653 $ 52,776 $ 92,965 $ 102,786 (1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc. ADEIA FOR GUIDANCEON OPERATING EXPENSES(in millions)(unaudited) Year Ended December 31, 2025 Low High GAAP operating expenses $ 261.0 $ 271.0 Amortization expense 57.0 57.0 Stock-based compensation expense 36.0 38.0 Separation and related costs (1) 8.0 10.0 Total of non-GAAP adjustments 101.0 105.0 Non-GAAP operating expenses $ 160.0 $ 166.0 (1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc. ADEIA FOR GUIDANCEON NET INCOME(in millions)(unaudited) Year Ended December 31, 2025 Low High GAAP net income $ 85.1 $ 86.5 Amortization expense 57.0 57.0 Stock-based compensation expense 36.0 38.0 Separation and related costs (1) 8.0 10.0 Total of non-GAAP operating expenses 101.0 105.0 Non-GAAP tax adjustment (2) (35.6 ) (15.6 ) Non-GAAP net income $ 150.5 $ 175.9 (1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc. (2) The provision for income taxes is adjusted to reflect the net income tax effects of the various non-GAAP pretax adjustments. ADEIA FOR GUIDANCE ONADJUSTED EBITDA(in millions)(unaudited) Year Ended December 31, 2025 Low High GAAP net income $ 85.1 $ 86.5 Stock-based compensation expense 36.0 38.0 Separation and related costs (1) 8.0 10.0 Amortization expense 57.0 57.0 Depreciation expense 2.1 2.1 Interest expense 40.0 42.0 Other income (5.5 ) (6.5 ) Income tax expense 9.4 37.0 Total of non-GAAP adjustments 147.0 179.6 Adjusted EBITDA $ 232.1 $ 266.1 (1) Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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