Calling it a major milestone, Xperi says the number of cars incorporating HD Radio has surpassed 100 million.
It made that announcement in releasing its third-quarter financial results. CEO Jon Kirchner noted that a full year has passed since Xperi spun off from Adeia, “a year highlighted by significant design wins and strong business momentum across our key growth areas, coupled with solid financial performance, including comparable 6 percent revenue growth over the prior year trailing 12 months.”
Revenue in the quarter was $130.4 million compared to $121.6 million in the same period last year. Xperi posted a GAAP operating loss in the quarter of $31.1 million, compared to a loss of $399.1 million a year ago.
Kirchner said Xperi is “entering a particularly exciting phase as our business momentum is translating into tangible operational milestones, such as video services powered by TiVo now shipping in Vestel Smart TVs, as well as in BMW cars.”
The connected car is a key part of the company’s business, and video is playing a growing role within that context. Xperi noted that the DTS AutoStage Video Service, “Powered by TiVo,” recently was integrated into the BMW 5-Series.
“These vehicles are now in showrooms across the United States, Germany, United Kingdom, Italy, France, Spain and South Korea. BMW will expand the AutoStage Video rollout in these regions to a broad range of additional models across various vehicle segments.”
Within the radio space, Xperi noted that in the quarter it won a new HD Radio and DTS AutoStage program with Ford Motor Co. for its new radio platform unveiled at the North American Auto Show this fall. It said that program is now in production for certain North American vehicles.
Kirchner said reaching 100 million cars with HD Radio demonstrates “the relevance and longevity of our technology platform and related ecosystem,” according to an Insider Monkey transcript of the investor call.
Xperi’s business areas include its media platform, connected cars, pay TV, consumer electronics and an AI-based platform called Perceive.
