Toyota will include HD Radio as a standard feature in its next-generation infotainment system in the U.S., which means nearly all new Toyota cars in the country will have an HD Radio in future.
Xperi announced the development this past week while releasing its financial results for the fourth quarter and past year.
“Toyota has been a valued customer for some time, although the extent of their prior implementation was in mid-line and upper-end vehicles,” said CEO Jon Kirchner during an investor call.
“I think this represents a decision recognizing the importance of HD Radio in the broader infotainment suite. It’s representative of the continued progress we make with the HD Radio ecosystem in North America, and it lays a foundation as well for follow-on next-generation entertainment features, which ties in with what we’re doing with DTS AutoStage.”
On that front, Xperi said 16 car companies are testing its DTS AutoStage technology in Europe, North America and Asia. “Multiple partners, including two major OEMs, are in advanced stages of testing.”
Radio people know Xperi largely as the parent of HD Radio and DTS AutoStage, but it has numerous other businesses including IP licensing, pay TV, consumer electronics, driver monitoring and TiVo.
Overall, Kirchner said the recent quarter was “solid” and that the company “continued to successfully deliver against the key strategic objectives we set following our merger with TiVo nearly two years ago.”
Revenue in the quarter was $214.4 million, compared to $433.9 million for the period in 2020, which included prior revenue from Xperi’s Comcast agreement. Xperi said quarterly revenue without that earlier adjustment was up 2% in Q4. The company posted a loss per share of 14 cents using GAAP calculations and earnings per share of 30 cents using non-GAAP.
For the year 2021 Xperi reported revenue of $877.7 million, down from $892 million the year before. It reported a GAAP loss per share of 53 cents and a non-GAAP earnings per share of $2.03. It said it had “returned over $100 million to stockholders through dividends and share repurchases” in 2021.