TiVo Inc. (NASDAQ:TIVO) Q3 2018 Earnings Conference Call Transcript

Nov 07, 2018 • 05:00 pm ET


TiVo Inc. (NASDAQ:TIVO) Q3 2018 Earnings Conference Call Transcript


Loading Event

Loading Transcript


Good afternoon. My name is Jesse and I'll be your conference operator today. At this time, I'd like to welcome everyone to TiVo Corporation 2018 Third Quarter Results Conference Call. All lines have been placed on mute to prevent any background noise. At the end of the call, there will be a question-and-answer session. (Operator Instructions)

I would now like to turn the call over to Nicole Noutsios, TiVo IR.

Nicole Noutsios

I'm Nicole Noutsios, IR at TiVo. With me today are Raghu Rau, interim CEO; and Peter Halt, CFO. We just distributed a press release and filed an 8-K detailing our third quarter 2018 financial results. In addition, we posted a downloadable model on our IR site showing our historical financial results and GAAP to non-GAAP reconciliations. After this call, you will be able to access a recording of this call on our website at TiVo.com, as well as a transcript of the company's prepared remarks.

(Forward-Looking Cautionary Statements)

With that, I will turn the call over to our interim CEO, Raghu Rau. Raghu?

Raghu Rau

Thank you, Nicole and thank you for joining us for our third quarter earnings conference call. We had a good quarter and I'm pleased to share that TiVo remains ahead of our internal plan for 2018 and we are focused on driving sequential revenue growth in Q4. The company continues to explore all possible strategic alternatives to maximize value for our shareholders, and I would like to update you on that front.

As mentioned on our prior earnings call, we believe there is strategic value in each of our product and IP businesses. We remain in various active discussions, but due to the unique nature of our business, the process is taking longer than we had hoped. It is our intention to complete the strategic review process by our fourth quarter and year-end 2018 earnings call. Significantly, the strategic review process is informing our view of TiVo's growth strategy. I'm very excited about the possibilities on this front and would like to discuss these opportunities.

In our products area, we have a number of initiatives we are excited about and believe are key to driving growth. Some are new and others are already in development and have begun showing traction in the market. While we will provide more information in the future, we began investing in a new opportunity that combines our expertise in pay TV and OTT to build unique entertainment Discovery platform for the Internet age.

With the proliferation of content from multiple sources around the world that is delivered through broadcast, TV, OTT, on demand and Internet streaming, TiVo offers a powerful platform to engage audiences through a single, unified content Discovery experience. The platform will enable end-users to experience content from leading digital brands integrated with live, recorded and OTT streaming titles. We are reimagining the guide as one integrated content network that allows you to access all of the content you want to watch seamlessly. We believe this product has the potential to