TiVo subscribers down 131 thousand in quarter to end-January 2010
Monday, March 8th, 2010ALVISO, CA — TiVo Inc. (NASDAQ: TIVO), a creator and leader in advanced television services and digital video recorders (DVRs), today reported financial results for the fourth quarter and fiscal year ended January 31, 2010.
For the fourth quarter, service and technology revenues were $45.3 million, compared with $48.5 million for the same period last year and $47.1 million in the prior quarter.
Highlights
- Adjusted EBITDA for the fourth quarter was a loss of ($3.2) million, beating guidance
- Net loss for the fourth quarter was ($10.2) million, better than guidance
- Launches TiVo Premiere DVR and new high-definition user interface, taking the advanced television experience to the next level
- The United States Court of Appeals for the Federal Circuit rules in TiVo’s favor; Paves the way for the Company to receive further damages in the future
- RCN to launch TiVo in second quarter
- TiVo partners with conditional access provider Conax to offer European multi-channel operators a fully comprehensive end-to-end solution
Subscriptions:
Three Months Ended Twelve Months Ended January 31, January 31, ------------------ ------------------ (Subscriptions in thousands) 2010 2009 2010 2009 -------- -------- -------- -------- TiVo-Owned Subscription Gross Additions 46 59 148 187 Subscription Net Additions/(Losses): TiVo-Owned (72) (4) (189) (91) MSOs/Broadcasters (59) (121) (541) (520) -------- -------- -------- -------- Total Subscription Net Additions/(Losses) (131) (125) (730) (611) Cumulative Subscriptions: TiVo-Owned 1,465 1,654 1,465 1,654 MSOs/Broadcasters 1,140 1,681 1,140 1,681 -------- -------- -------- -------- Total Cumulative Subscriptions 2,605 3,335 2,605 3,335 % of TiVo-Owned Cumulative Subscriptions paying recurring fees 58% 59% 58% 59% ======== ======== ======== ========
Included in the 1,465,000 TiVo-Owned subscriptions are approximately 279,000 lifetime subscriptions that have reached the end of the period TiVo uses to recognize lifetime subscription revenue. These lifetime subscriptions no longer generate subscription revenue.
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