Q1 2024 Earnings
May 8, 2024
Safe Harbor
This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding: expectations regarding our future results of operations and financial position, margin expansion and overall growth, including, without limitation, anticipated revenue growth and Adjusted EBITDA margin growth, the deployment by third parties of their products that use our technology, objectives for future operations, and ongoing strategies and operating
initiatives, including, without limitation, expansion expectations, reduction of expenses and our pursuit of strategic
alternatives for Perceive. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company's current expectations, assumptions, estimates and projections that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words "expect," "anticipate," "intend," "plan," "believe," "could," "seek," "see," "will," "may," "would," "might," "potentially," "estimate," "continue," "expect," "target," and similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. These statements involve risks,
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materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the "SEC") and our other filings with the SEC from time to time. Any forward-looking statements speak only as of the date of this presentation and are based on
information available to the Company as of the date of this presentation, and the Company does not assume any
obligation to, and does not intend to, publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
2 | © 2024 Xperi Inc. All rights reserved. |
MISSION | VISION | MARKETS | SOLUTIONS | ||||||||
WHAT | WHY | WHERE | WHO | ||||||||
Xperi invents, | Smarter technology = | Media Platform | TiVo® | ||||||||
develops, and delivers | Extraordinary experiences | Connected Car | DTS® | ||||||||
technologies that enable | Pay TV | HD Radio | |||||||||
extraordinary experiences | Consumer Electronics | IMAX® Enhanced1 |
1 IMAX® Enhanced is a certification and licensing program operated by IMAX Corporation and DTS, Inc.
3 | © 2024 Xperi Inc. All rights reserved. |
Q1 Financial Highlights
- Q1 revenue of $119M, down 6% year over year (Q1 2023 revenue was $127M, including $4.5M from AutoSense and related imaging solutions)
- Total GAAP operating expenses, including cost of revenue, decreased 6% year over year primarily due to the AutoSense and related imaging divestiture
- Non-GAAPadjusted operating expenses* decreased 8%
- GAAP net loss of ($13.4M) and non-GAAP adj EBITDA* of $5.4M (5% of revenue)
- GAAP loss per share of ($0.29) and non-GAAP loss per share* of ($0.05)
- For further information on supplemental Non-GAAP metrics, refer to the "Non-GAAP Financial Measures" and GAAP to Non-GAAP Reconciliation tables below
4 | © 2024 Xperi Inc. All rights reserved. |
Growth Solutions | Core Solutions |
Media Platform
Markets and
Connected Car
Pay TV
Consumer
Electronics
TiVo OS (Connected TV Advertising)
DTS AutoStage (in-cabin entertainment)
Video-Over-Broadband (IPTV streaming)
HD Radio
Music Metadata
Search & Discovery
Classic Guides
Consumer Hardware & Subs
DTS:X
IMAX® Enhanced1
Audio
1 IMAX® Enhanced is a certification and licensing program operated by IMAX Corporation and DTS, Inc.
5 | © 2024 Xperi Inc. All rights reserved. |
Monetizable Footprint = ~10M Devices/Households + ~10M Cars Exiting '25
Combining Home + Car illustrates the breadth of our expected monetization reach
HOME | CAR | |||||
Connected TV / | Video-over- | DTS AutoStage | ||||
Media Platform | Broadband (IPTV) | |||||
FY23 | 2 Yrs | FY23 | 2 Yrs | FY23 | 2 Yrs | |
Active Footprint | <1M | >7M | 1.9M | >2.8M | ~5M | >10M |
Streaming Hours | 140M | >5B | 3.0B | ~5.4B | - | - |
ARPU | <$10 | $20-$30 | $32 | ~$40 | ~$1 | >$2 |
Revenue | $49M1 | $190M+ | $60M | $100M+ | ~$5M | $20M+ |
1 Media Platform revenue is the combination of TiVo OS, TV viewership data, IPG/CTV advertising, and TVOS middleware licensing
6 | © 2024 Xperi Inc. All rights reserved. |
Media Platform
Additional Japanese global
brand expected to launch smart TVs "Powered by TiVo" across
Europe & U.K. prior to UEFA Euro 2024
Argos, a major U.K. retailer, is selling TVs "Powered by TiVo"
online and in stores now, under
their "Bush" house brand
Vestel is now shipping TVs
"Powered by TiVo" into most
major European countries,
under more than a dozen
brands
7
Connected Car
HD Radio adoption has steadily expanded to 58% of all cars
North America
Hyundai and Genesis have made HD Radio standard across North American models
DTS AutoStage now deployed in more than six million vehicles worldwide
AutoStage Video Service, Powered by TiVo, now deployed in hundreds of thousands of cars across seven countries
© 2024 Xperi Inc. All rights reserved.
Pay TV
Ended Q1 2024 with over 2M
Video-over-Broadband
(IPTV) subscriber households, continuing the trend of consecutive quarters of
double-digit subscriber growth
Expanded TiVo Broadband
with the signing of three new operators in the quarter -
Midco, Bluepeak, and Buckeye Broadband
9
Consumer Electronics
Disney+ announced "Queen Rock Montreal" and 18 fan-favorite Marvel films will be available for streaming in
the IMAX® Enhanced1 format with DTS:X immersive sound
Completed several DTS:X license renewals with major U.S. consumer electronics manufacturers, including
TCL, Hisense, and Xiaomi
Signed new DTS:X license agreements with major global PC manufacturers, ASUS and MSI, to integrate our decoder onto their motherboards
1 IMAX® Enhanced is a certification and licensing | |
program operated by IMAX Corporation and DTS, Inc. | |
10 | © 2024 Xperi Inc. All rights reserved. |
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Xperi Inc. published this content on 08 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2024 20:16:31 UTC.