TiVo Q3 down $24.5 million


That’s compared to guidance of a net loss of ($27) million to ($29) million and a net loss of ($20.6) million in Q3 last fiscal year. Net loss per share this quarter on a basic share basis was ($0.21). Adjusted EBITDA was a loss of ($13.9) million, compared to Adjusted EBITDA guidance of a loss of ($17) million to ($19) million, and to an Adjusted EBITDA loss of ($12.2) million in the same quarter last year. TiVo ended the quarter with 2.04M total subscriptions, up 117,000.

For Q3, service and technology revenues were $51.8 million, growing 25% YOY. This compared to guidance of $49 million to $51 million, $41.3 million for the same quarter last year and $49.6 million in the prior quarter.

Said Tom Rogers, TiVo CEO: “Our efforts to get TiVo in more homes globally continues to accelerate as we drove approximately 117,000 net subscription additions and returned to total positive net subscription growth for the first time in four years. We also exceeded our quarterly guidance on service and technology revenues, Adjusted EBITDA and net income. In the U.K., Virgin Media has now deployed its TiVo offering to more than 220,000 subscribers as of the end of October, and RCN recently expanded its TiVo product offering through the deployment of a whole-home solution. Additionally, DirecTV intends to launch its TiVo offering in select markets in December with a nationwide rollout to follow early next year. All of this is a testament to our leadership in advanced television and our ability to drive meaningful solutions to market.”

For Q4, TiVo anticipates net loss to be in the range of ($31) million to ($33) million, and an Adjusted EBITDA loss to be in the range of ($21) million to ($23) million. TiVo anticipates service and technology revenues in the range of $48 million to $50 million. Included in the fourth guidance is higher expected litigation expense relating to AT&T/Microsoft cases where significant activity is scheduled in December and January.