Xperi Inc. posted an 8% increase in revenue in the second quarter compared to a year earlier, helped by 54% growth in its advertising and related revenue.
The technology company announced Q2 financial results on Wednesday. CEO Jon Kirchner cited “positive momentum in our business and the effectiveness of our strategy to grow both footprint and revenue on our platforms.”
Xperi said monthly active users on its TiVo One platform grew 70 percent from last year, to 6.3 million, helping drive 54 percent year-over-year growth in advertising and related revenue.
“Our AutoStage platform footprint grew 42 percent year-over-year to reach 17 million vehicles, and began generating revenue from listener analytics and data,” Kirchner said.
Its Connected Car and its Media Platform divisions showed the largest increases in revenue percentage in the quarter, while Pay TV and Consumer Electronics declined. [See the company’s summary slides for investors.]
The company has been working to reverse some overall trends that it reported last year, when its revenue declined and net losses grew. Performance over the last couple of quarters has been more encouraging.
For Q2, Xperi reported Q2 revenue of $114.5 million, up from $105.9 million in the quarter a year earlier. It posted a GAAP net loss in the quarter of $1.5 million, but an improvement on the loss of $14.8 million a year earlier. And it celebrated an increase of 61% in its adjusted EBITDA year over year.
For Radio World readers, Xperi’s DTS AutoStage and HD Radio technologies are of most interest.
The company said, “Continued growth in AutoStage platform footprint as well as new automotive OEM programs are beginning to accelerate advertising and related revenue.”
During Q2, as we’ve reported, big EV maker BYD joined the AutoStage program as its 14th automotive brand and committed to deploy the audio and video platform across export models.
In the quarter Xperi also signed Cumulus as the first customer for advanced analytics from the DTS AutoStage broadcaster portal.
And it said it has signed “a multi-year HD Radio program with a large Asian Tier 1 supplier to enable future HD Radio shipment growth.”
