Xperi marks ‘turning point’ after separation of businesses

Xperi, the company that owns TiVo, has announced its first financial results since separating its product and licensing businesses. With its results reported on a carve out basis, the company said revenues for the product business, which includes TiVo, IMAX Enhanced, HD Radio and DTS, were $121.6m in Q3 2022, up 3% year on year.

Jon Kirchner

Operating highlights for the period included Vestel coming on board as the first OEM partner to offer Powered by TiVo SmartTVs in 2023, which the company says “validates the Company’s independent media platform strategy”. It also surpassed 1 million Video Over Broadband (IPTV) subscribers and launched infotainment platform DTS AutoStage with four automotive OEMs including Hyundai and Kia.

“The third quarter marked an exciting turning point in our history as we successfully completed our spin-off into a new standalone publicly traded company,” said Jon Kirchner, chief executive officer of Xperi. “We are extremely pleased with key customer wins during the quarter, demonstrating increased traction and momentum on strategic growth initiatives within our Media Platform, IPTV, and Connected Car businesses. We are reiterating our 2022 guidance, which represents y-o-y revenue growth.”

During a call, Kirchner said Xperi has also signed up Shenzhen KTC Technology as a partner for its TiVo OS. KTC manufactures white-label smart TV sets for third parties.