Xperi experienced a drop in revenue in the second quarter of this year compared to the same period last year.
But the entertainment technology company said it is on track to exceed its growth goals for active users and devices. It said there are now 12 million vehicles on the road with its DTS AutoStage platform (up from 10 million six months ago), as well as 3.7 million TiVo One Monthly Active Users and 3 million global IPTV subscriber households.
Issuing preliminary results for Q2, the company reported a decline in revenue from the same period last year, down from $119.6 million to $105.9 million. Of that drop, $1.9 million was attributable to a business divestiture late last year.
It also reported a preliminary net loss of $14.8 million in the quarter, down from a net loss a year ago of $30.3 million.
Xperi is paring back its projections for the overall year, citing macroeconomic uncertainty.
“We made significant progress in the quarter toward our strategic growth initiatives,” CEO Jon Kirchner said in the announcement. “However, as the quarter progressed, the changing macroeconomic environment created increased uncertainty for our customers, ultimately impacting our financial results for the quarter. In light of this market backdrop, we are updating our full-year financial outlook.”
It will release its complete quarterly financials on Aug. 6.
