Xperi Posts $502 Million in Revenue for 2022

Entertainment technology company Xperi, which owns the TiVo brand, announced revenue of $136 million during the fourth quarter, up 9% from the year-ago period, and full year 2022 revenue of $502 million, up 3% from 2021.

For the fourth quarter (ended Dec. 31, 2022), Xperi announced a GAAP net loss of $297 million and non-GAAP net income of $4 million. Adjusted EBITDA was $4 million for the fourth quarter, resulting in an adjusted EBITDA margin of 3%, Xperi announced.

The company booked a non-cash charge of $258 million in the fourth quarter for goodwill impairment and real estate restructuring in connection with its year-end review.

Full-year results include the Xperi product business on a carve-out basis for the first nine months, during which time it was part of Xperi Holding Corp., now known as Adeia.

“Our first quarter as an independent company was underscored by substantial market progress, notable design wins, and strong financial performance,” Jon Kirchner, CEO of Xperi, said in a statement. “Consumers are demanding higher-quality digital experiences and our customers and partners are increasingly selecting our independent media platforms to meet that demand. We are intensely focused on expanding our platform adoption and our recent design wins in smart TV and connected car are a testament to the ongoing success of our growth strategy.”

TiVo IPTV continued its double-digit subscriber growth in the quarter and finished 2022 with subscribers up 80% and revenue more than doubling compared to 2021, according to Xperi.

TiVo’s partner Vestel, the first smart-TV OEM to incorporate the TiVo Operating System (TiVo OS), announced the brand lineup for their smart-TVs Powered by TiVo will be Vestel, Hitachi, JVC, Daewoo, Regal and Telefunken. These TVs will feature chipsets from MediaTek. TiVo OS will be integrated onto Amlogic’s 4K and 2K chipsets designed for smart TVs, significantly reducing cost and time-to-market for TV OEMs looking to roll out TiVo’s independent media platform, according to Xperi.

DTS:X, Xperi’s immersive audio technology, will be integrated in LG’s new line of OLED and premium LCD TVs, expected to be in the market in the first half of 2023. The company announced that Sony Pictures Entertainment, Imax Corp. and DTS have extended their agreement to distribute multiple new titles in the Imax Enhanced format, featuring DTS’s premium audio technology. Xperi announced DTS:X is expected to launch on Disney+ in 2023.

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Xperi was awarded its first design win for TiVo’s video platform in connected car with a major European automobile manufacturer, with vehicles expected to ship in late 2023, the company pointed out. DTS AutoStage is now in production with five car brands and being deployed in more than 100 models across 140 countries. The company was awarded a new design win for DTS AutoSense, Xperi’s Driver Monitoring System (DMS) and Occupant Monitoring System (OMS), with a major Asian automotive OEM, which will significantly expand Xperi’s DMS and OMS footprint beginning in 2024, according to the company. Xperi ended 2022 with committed business in connected car, consisting of HD Radio, DTS AutoStage, and DTS AutoSense, totaling more than $300 million.

Xperi Adds Imax Signature Sound, DTS:X to Disney+, LG OLED TVs

Xperi Jan. 4 announced that the integration of its DTS:X audio technology into Imax’s Enhanced signature sound platform is expected to launch on Disney+ this year, with the SVOD/AVOD platform looking to deliver enhanced audio and visual technology to select Disney+ movies in the home.

DTS,  a wholly owned subsidiary of Xperi Inc., is aggressively trying to embed its technology in more consumer electronics devices, including LG’s latest OLED and Premium LCD televisions, to enhance the home entertainment experience.

DTS:X technology for TV claims to offer a cinematic audio experience directly to the living room on compatible 4K HD televisions. With the introduction of LG’s previously reported newest OLED and Premium LCD TVs featuring DTS:X technology, LG’s customers stream movies in immersive sound from their TV speakers. LG also has a line of DTS:X-enabled soundbars designed to be paired with LG TVs to further elevate streaming and Ultra HD Blu-ray Disc movies.

“DTS is enabling a new level of audio experience to the home,” Jea Yoo, president of Korea at Xperi, said in a statement.

Xperi Repositioning DTS Brand, Adding Imaging Tech

On the eve of CES Jan. 7-10, Xperi announced that its FotoNation imaging technology will be offered under the DTS brand along with its audio solutions.

“DTS will now move forward under a single premium brand inclusive of audio, imaging and sensing solutions,” according to an Xperi press release.

“Building upon DTS’s foundation of innovation in audio, our brand repositioning reflects our view that consumers will delight and engage in even more immersive and intuitive ways with their favorite content as we bring more integrated and advanced imaging and sensing technology to optimize content presentation and device playback,” said Kevin Doohan, Xperi’s chief marketing officer. “We are strategically pushing the DTS brand beyond the outstanding sound solutions customers and consumers have always known it to stand for, while integrating FotoNation’s trusted innovative technology and solutions under the redefined DTS brand.”

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At CES, Xperi will demonstrate:

  • Imax Enhanced, the premium home entertainment certification and licensing program from Imax and DTS available on four streaming platforms in seven countries worldwide and 17 device manufacturers;
  • DTS:X TV, a comprehensive immersive audio solution for televisions supporting decode, playback, and transcode of DTS:X bitstreams with full backward compatibility for streaming and disc-based DTS bitstreams;
  • DTS Virtual:X, which creates an immersive home theater experience using only a sound bar, TV speakers, or through speakers connected to an A/V receiver;
  • DTS Play-Fi, which brings wireless audio features such as surround sound, whole-home TV audio streaming, multi-room music, and app-based wireless headphone support to the entertainment hub of every room; and
  • DTS:XPro, an advanced audio decoder solution that brings greater spatial resolution to premium home cinema systems with support for up to 30.2 channels of audio in nearly any practical speaker layout.

 

LG Announces Sound Bar Lineup for CES

LG Electronics announced a new 2019 sound bar lineup to be showcased at CES 2019.

The bar lineup is equipped with artificial intelligence and features two CES Innovation Award recipients (models SL9YG and SL10YG), according to an LG press release. LG’s premium SL9 took home the Best of Innovation title, the company announced.

LG models SL10YG, SL9YG and SL8YG were created in collaboration with Meridian Audio.

“The collaboration goes far beyond basic fine-tuning or the adoption of feature-sets, with both companies joining forces to engineer sound delivery for a truly unrivalled listening experience,” according to the release. “Drawing on 25 years of experience as the Master of Digital Signal Processing, Meridian’s Bass & Space technology improves the soundstage and envelops listeners in rich, uncompromising sound and strong bass. Together with its Image Elevation technology, designed to lift the soundstage in a more lifelike way to boost listeners’ sense of immersion, Meridian creates a true cinematic experience, delivering powerful surround sound like no other.”

Able to up-mix two-channel audio to multiple, distinct channels without generating any distortion, the Meridian Upmix technology increases sound immersion by improving the sound field while upgrading the clarity of vocals and lead instruments, according to LG.

LG’s sound bar models SL10, SL9 and SL8 support both Dolby Atmos and DTS:X. Users can add the Wireless Rear Speaker Kit (sold separately) to achieve a more cinema-like experience, according to LG.

The new sound bars also offer AI smart connectivity and voice recognition with the built-in Google Assistant. Users can control their LG sound bar and get information with a command such as, “Hey Google, increase the volume,” or, “Hey Google, what artist is playing?” Compatibility with Google Assistant-enabled smart products make it possible to control connected devices throughout the home via voice command. Users can say, “Hey Google, ask LG to turn on the air purifier,” to the sound bar to make adjustments.

The sound bars “have a sleek, understated design that perfectly matches the chic style of LG’s exceptional OLED TVs,” according to LG. At 57mm (2.25 in) deep, the LG SL9 can also be installed flush to the wall. An integrated gyroscope sensor gauges the position of the product (fixed to a wall or on a flat surface), adjusting sound directionality to guarantee the optimal listening experience, according to LG.

“LG’s 2019 sound bars deliver amazing performance tuned in close partnership with Meridian Audio with the convenience of smart AI connectivity,” said Kim Dae-chul, head of LG Home Entertainment Company’s audio and video business. “The high-quality sound and versatility of our newest lineup takes home entertainment to a whole new level and satisfies a growing demand for premium sound bar solutions that provide impressive listening experiences, greater convenience and stylish, modern aesthetics.”