TiVo One, the cross-screen advertising platform owned by Xperi, saw its monthly active users increase by over 30% in the third quarter, reaching 4.8 million at the end of Q3. This growth combines a developing TV operating system (TVOS) business in Europe with established IPTV operations in North and Latin America.

Xperi expects TiVo One to surpass 7 million monthly active users by 2026, and the recent quarter’s growth suggests it is on track to meet that goal. Alongside its Q3 earnings, Xperi announced the addition of another Asia-based smart TV manufacturer and a new European TV brand to the TiVo operating system, bringing its total TVOS customers to ten.

According to Xperi CEO John Kirchner, expanding the platform’s reach is key to increasing scale in the U.S. and major European markets, which will help boost revenue from the installed user base. With TiVo One’s progress, Xperi has begun reporting average revenue per user (ARPU), which currently stands at $8.75. The company aims to raise this figure above $10 by year-end.

Xperi defines a TiVo One monthly active user as a unique device that connects to the TiVo video service, including its advertising platform, at least once in the past 30 days. The advertising platform is integrated into the operating system of certain “Powered by TiVo” devices, such as smart TVs and broadband video products.

In its automotive segment, Xperi’s AutoStage platform is now deployed in 13 million vehicles. Despite these advances, Xperi faced some challenges in Q3. Revenue reached $112 million, exceeding forecasts but marking a 16% decline compared to the previous year. This drop was expected, partly due to a large minimum guarantee arrangement with Panasonic in the pay-TV business.

Xperi also announced the layoff of 250 employees as part of a restructuring plan to improve cost efficiency and align with long-term strategies and current market conditions. The company began the year with about 1,680 employees and expects a one-time restructuring charge of $16 million to $18 million related to these job cuts.

Most TiVo One users are in the Americas, where IPTV subscribers grew by 32% year-over-year to 3.2 million households. IPTV revenue increased by 18% year-over-year to $4 million, supported by a renewed contract with the National Content and Technology Cooperative, which represents smaller U.S. cable operators.

On the TVOS side, Xperi is now working with a second U.S. original equipment manufacturer (OEM) partner in addition to Sharp. This new partner is expected to deliver TiVo-powered TVs to select U.S. retailers before the end of the year. Xperi anticipates that U.S. distribution of smart TVs powered by TiVo will expand in 2025 and achieve national coverage by the second half of 2026.

In a significant shift, Xperi recently announced it will stop manufacturing digital video recorders, the product that originally established the TiVo brand. CEO John Kirchner stated, “We’re closing one innovative and industry-changing chapter in the company’s history. The TiVo brand will continue to empower consumers to find, watch, and enjoy the content they love on innovative video over broadband and smart TV solutions.”

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