Xperi signs up Skyworth to integrate TiVo OS

Xperi Inc. Announces Fourth Quarter and Full Year 2023 Results

SAN JOSE, Calif. — Xperi Inc. (NYSE: XPER) (the “Company” or “Xperi”), an entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, today announced fourth quarter and full-year 2023 financial results for the period ended December 31, 2023.

Financial Highlights

                                                                         Full Year  Full Year
GAAP Highlights ($ millions, except per share data)   Q4 FY23   Q4 FY22       2023       2022
---------------------------------------------------  --------  --------  ---------  ---------
Revenue                                                $137.2    $135.5     $521.3     $502.3
GAAP Operating Loss                                   ($29.8)  ($299.1)   ($129.6)   ($749.4)
GAAP Net Loss                                         ($25.3)  ($298.0)    (139.7)    (761.2)
GAAP Loss per Share Attributable to the Company       ($0.57)   ($7.06)    ($3.18)   ($18.02)

Recent Key Operating Achievements

Media Platform

• Skyworth, a Top 10 global Smart TV manufacturer, has signed an agreement to integrate the TiVo Operating System into their 2024 Smart TV lineup.
• Vestel is now shipping Smart TVs Powered by TiVo into seven European countries, including the U.K. and Germany, and is expected to continue expanding into additional European countries under more than a dozen brands such as JVC, Telefunken, and Vestel.
• Sharp and Argos (a leading U.K. consumer electronics retailer) expect to have Smart TVs Powered by TiVo in retail stores this spring across Europe and the U.K., respectively. Argos will launch TVs with TiVO OS under their house brand Bush.

Connected Car

• BMW is deploying DTS AutoStage Video Service, Powered by TiVo, across select new cars in production and certain late-model vehicles already on the road via an over-the-air (OTA) update, with plans to expand deployments to its Mini brand.
• Won three new DTS AutoStage contracts with major Asian and European automotive partners.
• Ended 2023 with committed business in Connected Car totaling more than $300M, growth of more than 10% from the prior year when adjusting for the AutoSense divestiture.

Pay TV

• Ended 2023 with 1.9 million video-over-broadband (“IPTV”) subscribers generating approximately $60M in revenue, up 38% year over year; signed agreement with Summit Broadband and launched multiple new service providers, including Hawaii Telecom and EverFast Fiber.
• Launched TiVo Broadband, a streaming-based media platform delivering subscription video-on-demand, TiVo+ free ad-supported TV, and customer specific linear channels to broadband-only customers.