Xperi Inc - XPER STOCK NEWS

DTS, a subsidiary of Xperi Inc. (NYSE: XPER), has launched DTS Clear Dialogue, an AI-powered on-device solution for TV OEMs to improve dialogue intelligibility. This technology addresses a major consumer complaint, with 84% of surveyed U.S. adults reporting difficulty understanding dialogue in TV shows and movies. DTS Clear Dialogue uses AI audio processing and machine learning to identify, separate, and enhance spoken dialogue, offering personalized audio experiences.

The solution is language-inclusive and content-agnostic, catering to various viewing scenarios. A significant 79% of surveyed consumers expressed increased interest in smart TVs offering this feature. DTS Clear Dialogue allows users to create personalized profiles, addressing hearing impairments, environmental factors, and individual preferences.

TiVo, a subsidiary of Xperi Inc. (NYSE: XPER), has announced the expanded availability of smart TVs Powered by TiVo across 15 European countries. The TVs, spanning 17 brands including Bush, Panasonic, and Sharp, are now available in sizes ranging from 24 to 75 inches. TiVo aims to have 2 million active devices by the end of 2024, setting the stage for future monetization. The TiVo OS platform offers advanced features such as content aggregation, personalized recommendations, and voice navigation. This expansion represents a significant step in TiVo's strategy to revolutionize the smart TV market with its content-first and user-centric approach.

TiVo Broadband, a solution for operators' broadband-only customers, has added five new operators to its portfolio, now totaling ten. The service, powered by the TiVo IPTV Platform, offers integrated access to various streaming services and content discovery features. TiVo+ has expanded its content offerings with over 200 new FAST channels in the U.S., including local news, Spanish-language programming, and sports channels.

The rollout of Plex represents a significant step in enhancing monetization opportunities for FAST channels, opening up new revenue-sharing possibilities between content providers and operators. TiVo Broadband aims to help operators offer innovative streaming solutions to enhance their broadband services and subscriber experiences.

Xperi Inc. (NYSE: XPER) announced its Q2 2024 financial results, showing improved profitability despite a slight revenue decline. Key highlights include:

- Revenue: $119.6M (vs $126.9M in Q2 2023)
- GAAP net loss: $30.3M (vs $38.4M in Q2 2023)
- Non-GAAP net income: $5.6M (vs $3.7M loss in Q2 2023)
- Adjusted EBITDA: $14.6M (vs $5.2M in Q2 2023)

The company made significant progress in its TiVo OS and video-over-broadband businesses, signing a seventh TV partner and expanding TiVo Broadband with three new operators. Xperi maintains its 2024 outlook with revenue projected between $500M to $530M and an Adjusted EBITDA margin of 12% to 14%.

Xperi's DTS subsidiary has released its Top Most Listened-To Songs In-Vehicle for Q2 2024, based on data from the DTS AutoStage Broadcaster Portal. Key highlights include:

1. Sabrina Carpenter rose to prominence across U.S., U.K., and global charts.

2. Teddy Swims and Benson Boone replaced Q1 chart-toppers.

3. Doja Cat maintained her position from Q1, while Ariana Grande entered the Top 5 in the U.S. and globally.

4. Beyoncé's "Texas Hold 'Em" hit #3 globally.

5. The data reflects actual listening engagement in millions of vehicles equipped with DTS AutoStage.

Xperi (NYSE: XPER), a leading entertainment technology company, is set to release its second-quarter 2024 financial results on August 5, 2024. The results will be announced after the market closes, followed by an earnings conference call at 2 p.m. PST (5 p.m. EST). U.S. participants can join the call by dialing 1-888-596-4144, while international callers can use +1 646-968-2525 with the conference ID 5483252. The call will also be webcast live, providing an accessible option for stakeholders to tune in. Investors are encouraged to log in 15 minutes early to ensure smooth access.

DTS has released its 'Connected Car Entertainment Trends' report highlighting the evolving landscape of in-vehicle entertainment. Key findings indicate audio remains dominant, with nearly 70% of consumers tuning into AM/FM radio, 53% using music streaming services, and 30% opting for satellite radio.

Video consumption in vehicles grew by 25%, with millennials and Gen Z showing increasing interest in gaming, particularly casual games. The report reveals that 46% of millennials and 38% of Gen Z play games while in the car.

In-vehicle entertainment is a significant factor in car purchase decisions, with over 50% of consumers willing to pay more for enhanced entertainment systems. The study also found that 58% of participants prefer rear cabin screens, while 54% favor front cabin screens, and 52% of respondents are interested in paying extra for better in-car entertainment.

Rubric Capital Management, owning 9% of Xperi's common stock, issued an open letter addressing the preliminary results of Xperi's 2024 Annual Meeting. Disappointed by the results, Rubric highlighted that less than 50% of shares voted for the contested nominees, indicating stockholder dissatisfaction.

Rubric's engagement led to several commitments from Xperi's Board, including initiating a strategic alternatives process for Perceive, expanding the Board with new directors in 2024, and eliminating supermajority voting requirements.

Additionally, Xperi promised to achieve $500-$530 million in revenue and 12-14% EBITDA margins in 2024, reaffirm 3-5 year revenue CAGR of 12-15%, and execute a stock repurchase plan. Rubric emphasized the necessity for Xperi to follow through on these commitments.

Institutional Shareholder Services warned that failure to meet these promises could lead to increased activist interventions in the next annual meeting.

Xperi announced preliminary results of its 2024 Annual Meeting of Stockholders, showing that all five incumbent directors have been re-elected: Darcy Antonellis, Laura J. Durr, David C. Habiger, Jon E. Kirchner, and Christopher Seams. The company emphasized the significance of stockholder engagement and commitment to delivering sustainable growth. All other proposals at the meeting were also approved, with final results pending certification. Xperi expressed confidence in its strategy to enhance long-term shareholder value. Legal and financial advisories were provided by Latham & Watkins LLP and Spotlight Advisors , respectively.