TiVo Announces Fourth Quarter Financial Results
Today TiVo announced their fourth quarter financial results. Here’s a summary taken directly from this document.
- Service and Technology revenues increased 22% year-over-year to $57.4 million in the fourth quarter
- Net loss was $18.7 million in the fourth quarter, compared to a net loss of $21.1 million in the year-ago quarter.
- Adjusted EBITDA loss was $14.2 million in the fourth quarter, compared to a loss of $19.9 million in the year-ago quarter
- TiVo-Owned subscriptions increased 16% year-over-year to end the year at 1.7 million
- Amazon Unbox On TiVo officially launched and now broadly available
“As TiVo enters Fiscal 2008, we believe there are five engines that will drive the Company’s momentum in the coming year that didn’t exist last year.
- First, delivering broadband content directly to the television becomes a reality this year through our deal with Amazon, as well as through our other broadband content features such as TiVoCast, Home Movies via OneTrueMedia, which provides friends and family a private channel to view personal content through their TiVo service, and the TiVo Desktop autotranscode functionality, which gets internet video off of the Web and displays it on the TV set.
- Second, our mass distribution strategy becomes a reality as the TiVo service on Comcast product is expected to launch in its initial market in the near-future and Cox is targeted for initial market availability later this year.
- Third, we came out of the holiday season with the full attention of our retail partners focused on the important role that TiVo can play in their goal to offer bundles of High Definition television products and services to consumers. We will be highly focused this year on launching a lower-priced, mass appeal High Definition product.
- Fourth, for the first time, TiVo plans to advertise throughout the year with a far more extensive effort to educate the market on TiVo’s superior brand and the service’s highly differentiated features.
- Fifth, we believe our financial model will move us significantly closer to Adjusted EBITDA break-even for Fiscal Year 2008 and substantially improve the perception of the Company’s long-term financial prospects.