Xperi reported $114 million in revenue in the third quarter. That was up 2% from the $111.6 million in the same period a year ago.
It said its media platform business is experiencing accelerated growth in revenue. Xperi also highlighted growth in users of its TiVo One service and the selection of TiVo’s operating system by an electronics retailer in Europe. And of interest to radio, it said DTS AutoStage continues to expand.
Within its quarterly revenue total, Xperi’s connected car revenue fell 14% compared to Q3 of last year. Its media platform revenue rose 102%. Consumer electronics revenue fell 28% but pay TV grew 7%.
For the quarter, the company posted a net loss of $5.2 million for the period, compared to a loss of $6.1 million the year before. Those figures use GAAP or generally accepted accounting principles. Using non-GAAP accounting, it had a net gain of $11.7 million.
The announcement of results is here, and you can see its investor presentation slides here.
The company is the parent of DTS AutoStage, and it provided an update on that business.
It said AutoStage is in 18 million cars shipped, across 13 brands and covering 150 countries.
The AutoStage Broadcaster Portal recently expanded to 550 U.S. metro areas, as we’ve reported, and the company said it signed eight additional broadcasters to its premium tier during the quarter (that money shows up in its media platform division, not the connected car arm).
During the quarter it also signed a multi-year HD Radio program with “a large Asian Tier 1 supplier supporting multiple OEMs,” and it expanded the reach of HD Radio reach with new model launches from Hyundai, Kia, Volkswagen, Toyota, Honda and Subaru.
More broadly the company cited success in building its TiVo One footprint and said it has begun to see substantial growth in advertising and related revenue from that.
CEO Jon Kirchner raised the company’s full-year outlook range for adjusted EBITDA margin and operating cash flow. Xperi expects that full-year revenue will end up at $450 million to $462 million.
He also announced that CFO Robert Andersen will retire from Xperi after a successor is named.
