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HD Radio Is in 58% of New Cars in North America

Xperi releases Q1 financial results, reports drop in revenue

Xperi says HD Radio now comes standard in 58% of new vehicles built for the North American market, compared to 52% three years ago.

It issued that update while releasing financial results for the first quarter of the year.

“Hyundai and Genesis have now made Xperi’s HD Radio a standard feature across their North American models,” the company continued.

It said its DTS AutoStage hybrid radio platform now is deployed in 6 million vehicles globally, a 50% increase since August of last year, and that its new video service for that platform is deployed in hundreds of thousands of cars in seven countries.

Those services for radio and connected car are part of Xperi’s wider business, which also includes its media platform, Pay TV, consumer electronics and other components.

The company said its revenue in the first three months of this year was $118.8 million, down $8 million from the same period last year. Of that difference, $4.5 million was due to the subsequent divestiture of its AutoSense business.

Xperi posted a net loss of $13.4 million compared to a loss of $32.9 million a year ago.

“Entering our second full year as an independent company, we continued to advance our transformation, delivered solid financial results across our key growth areas, and made progress on several strategic initiatives,” said CEO Jon Kirchner.

“While revenue was down year over year due in part to the impact of the AutoSense and imaging divestiture, we saw strong growth in connected car, media platform and video-over-broadband, which are our most attractive opportunities.”

He said the company will seek to reduce expenses in coming months.

“We expect the next several quarters will be an exciting time for Xperi as our TiVo OS footprint begins to scale, our video-over-broadband offering continues to grow at double-digit rates, and our connected car deployments accelerate. We believe we are on track to achieve the multi-year targets we announced in September 2022, as these growth drivers and the continued execution of our strategy set the stage for significant long-term revenue growth and margin expansion.”