TiVo announces results for Q3

November 29, 2007 – TiVo has announced that it posted an adjusted EBITDA of $0.3mn for the third quarter of this year, and a net loss of $8.2mn for the period.

Service and technology revenues for the third quarter of 2007 reached $58.3mn, up from $52.5mn in the same period of last year.  TiVo-owned subscription gross additions reached 69,000 in the three months to October of this year, compared to 101,000 in the same period of last year, and totalled 1.7mn.

“This was another solid quarter for TiVo as we continued to improve our financial profile by posting substantially better than guided adjusted EBITDA of $0.3mn and net loss of $8.2mn,” said Tom Rogers, CEO of TiVo.  “In terms of the newer elements of our business driving long-term growth… we are moving forward on the international front with a launch of TiVo in Canada at retail; in our advertising business, we announced a multi-year partnership with NBC to provide their advertisers with both interactive advertising solutions and audience research and measurement tools; and we made progress on our litigation with EchoStar, which is moving closer to resolution.”

Cumulative total subscriptions for DIRECTV TiVo subscriptions reached 4.1mn, with a decline reported as DIRECTV is no longer deploying new TiVo boxes.  The company has also reported that its broadband strategy “gained traction” in the third quarter of this year, with churn “significantly less” for broadband-connected users.  There are now more than 15,000 titles available to TiVo users through Amazon Unbox and over 4mn songs available through Rhapsody.

TiVo anticipates service and technology revenues in the fourth quarter of this year to reach $58 to $60mn, and expects to post a net loss of $9mn to $12mn.