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Sep 30, 2024
Xperi Q3 2024 Earnings Report
Announced third quarter 2024 financial results.
Key Takeaways
Xperi Inc. reported third quarter results with a focus on entertainment-based solutions, growing its media platform and licensing businesses. The TiVo OS Smart TV footprint is approaching one million units, and the company is on track to achieve its year-end target of two million smart TVs. The Perceive transaction closed for gross proceeds of $80 million in cash.
TiVo OS Smart TV footprint is approaching one million activated units and tracking toward a year-end goal of two million.
DTS AutoStage video design won with a Japanese automotive OEM.
Exceeded year-end target of 2.4 million Video over Broadband subscriber households.
Closed Perceive asset sale for gross proceeds of $80 million in cash.
Forward Guidance
The company updated its 2024 outlook ranges.
Positive Outlook
- Focus on entertainment-based solutions to grow independent media platform and licensing businesses.
- TiVo OS Smart TV footprint approaching one million units, on track for two million by year-end.
- Innovation pipeline yielding new product solutions, including AI-driven DTS Clear Dialogue.
- Business transformation efforts driving operating leverage and improved profitability.
- Executed agreement with NCTC for a new Broadband TV solution, expanding U.S. monetization through the TiVo platform.
Historical Earnings Impact
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