TiVo reports 3Q 2018 results

Wednesday, November 7th, 2018
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TiVo Corporation Reports Third Quarter Financial Results

  • Continuing Product Innovation with Launch of TiVo BOLT OTA
  • Expects Sequential Revenue Growth in Q4
  • Strategic Alternatives Review Continues

SAN JOSE, Calif. — TiVo Corporation (NASDAQ: TIVO) today reported financial results for the third quarter ended September 30, 2018.

Update On Strategic Alternatives To Maximize Value For Shareholders

The Company continues to explore all possible strategic alternatives to maximize value for our shareholders. As mentioned on our prior call, we believe there is strategic value in each of our product and IP businesses. We remain in various active discussions, but due to the unique nature of our business, the process is taking longer than we hoped. It is our intention to complete the strategic review process by no later than our fourth quarter and year-end 2018 earnings call. Significantly, the strategic review process is informing our view of TiVo’s growth strategy which we will discuss on our earnings call.

Product Segment Operating Highlights

  • Approximately 22 million subscriber households around the world use TiVo’s advanced television experiences.
  • TiVo introduced TiVo BOLT OTA™ for antenna, a premium, 4K Ultra High Definition (UHD) capable set-top box designed to work with HD antenna, equipped with an on-screen user experience that looks and feels like a high-end cable box. The launch of TiVo BOLT OTA generated a wide range of reviews across consumer, business, financial and lifestyle publications emphasizing the value to customers and many of the key product benefits.
  • A leading provider of integrated telecommunications services in Latin America initiated the process of upgrading customers with the new Passport guide in seven countries.
  • One of the largest suppliers of integrated multimedia services in Eastern Europe selected TiVo’s STB software solutions for use as part of its Ultra HD service.
  • Blue Ridge Communications signed a renewal agreement which includes TiVo Experience 4, TiVo’s Next Gen IPTV Cloud Solution, with services for mobile and streamers.
  • Plex, a leading streaming platform for personal media collections, over-the-air Live TV and DVR, web shows, podcasts, and video news selected TiVo’s video and music metadata for its supported platforms.
  • Com Hem, a leading provider of broadband, TV, play and telephony services in Sweden, has deployed TiVo’s Personalized Content Discovery Platform on its TV and mobile platforms, including both Android and Apple iOS.
  • Frontier Communications has licensed TiVo’s new Sponsored Discovery product, which makes in-guide content advertising more relevant for audiences.
  • Sky implemented TiVo’s Conversation solution in German and Italian.
  • Sky launched TiVo’s metadata solutions to its Sky OTT video service in Spain.
  • Foxtel, Australia’s leading subscription-TV platform, has renewed its license to TiVo’s Search and Recommendation services and will have access to TiVo’s Personalized Content Discovery platform.
  • Alphonso extended its agreement to use TiVo’s TV Viewership Data for its data analytics services for brands, networks and agencies.
  • Discovery, Inc. expanded its multi-year Target Audience Delivery and Audience Works for Marketing software license agreements to include the recently acquired Scripps Networks Interactive, making the company now the #2 in all of TV including broadcast and premium pay.
  • A major TV broadcasting company has licensed TiVo’s Targeted Audience Discovery platform for advanced analytics.