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Xperi Reports Q2 Financials

Company posts another GAAP loss but cites “strategic momentum”

Xperi Inc. reported revenue of $126.9 million in its second business quarter, almost exactly as much as it brought in for the same quarter a year earlier as well as the first quarter of this year.

But the technology firm posted a GAAP loss of $35.2 million in the quarter, or 90 cents per share, larger than the $22.3 million loss a year ago.

The company completed a spinoff from Adeia last fall.

In the first quarter of this year Xperi had revenue of $126.8 million and a GAAP operating loss of $33. 6 million. The company has posted losses in each of the three quarters since the spinoff.

(GAAP refers to generally accepted accounting principles. Like many publicly held companies, Xperi also reports non-GAAP results including adjusted EBITDA. It posted a non-GAAP operating loss of $1.2 million. You can see those figures in the Xperi results statement.)

CEO Jon Kirchner said Xperi said in a statement today, “We are pleased to see strategic momentum continue in key growth areas of our business, particularly in Media Platform and Connected Car. We had a productive quarter with TV partners, and now expect to see Smart TVs with our TiVo OS ship in North America next year. Further, our automotive design wins continue to build. These accomplishments continue to position us for long-term revenue growth and improved profitability.”

The company has business in various sectors including smart TV, pay TV and consumer electronics. Among other things it announced Sharp will be the second smart TV OEM to launch “TVs Powered by TiVo,” which are expected to ship in 2024 starting in Europe. Vestel was the first.

More familiar to Radio World readers is the company’s in-car and digital radio business. Xperi said that in the second quarter it expanded its DTS AutoStage in-cabin entertainment platform to 4 million vehicles globally in five automotive brands and that it had contracted with broadcast groups representing 4,000 radio stations to enhance the metadata and content delivered to AutoStage users.

It also said HD Radio launched in 10 additional models in North America, expanding the technology’s penetration.