Xperi Inc. posted a net loss of $30.3 million in its second quarter, compared to a net loss of $38.4 million in the same period last year. For the first half of this year it has lost $44 million.
The company reported $119.6 million in revenue in the three-month period and $238.4 million for the half year.
“Our Q2 progress is a clear example of the positive effects of our continued business transformation efforts,” said CEO Jon Kirchner in releasing the quarterly data.
“We delivered solid financial results with improved profitability while continuing to execute on our strategic growth initiatives. Our growing TiVo OS and video-over-broadband footprint is setting the stage for future monetization, and we expect this will be a core element of our long-term revenue growth and margin expansion.”
In its connected car business, with which Radio World readers are most familiar, Xperi said that in Q2 it was awarded a multi-year program with “an Asia-based Tier 1 automotive supplier” to integrate DTS immersive audio codec in vehicles. It said HD Radio penetration continues to increase and is being deployed in additional models from Ford, GM, Audi, Volvo, Acura, Mazda and Lotus; and it said DTS AutoStage is now deployed in more than 7 million vehicles globally, adding over a million vehicles in the quarter.
On the media platform side, Xperi in Q2 signed its seventh TiVo OS partner and said Smart TVs “Powered by TiVo” are now available in 15 European countries under 17 brands.
In Pay TV, Xperi at mid-year had 2.25 million video-over-broadband (IPTV) subscriber households, continuing a trend of subscriber growth, and it expanded its TiVo Broadband business.
In consumer electronics it signed multiple license agreements with HP, Inc. to integrate DTS audio solutions into the HP Commercial division’s laptops and PCs and expand its Headphone:X solution in HP’s HyperX brand, among other deals.
In January Xperi divested its AutoSense and the related imaging business.
