TiVo Inc. (NASDAQ:TIVO) Q4 2019 Earnings Conference Call - Final Transcript

Feb 18, 2020 • 05:00 pm ET


TiVo Inc. (NASDAQ:TIVO) Q4 2019 Earnings Conference Call - Final Transcript


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Good afternoon. My name is Jesse and I'll be your conference operator today. At this time, I'd like to welcome everyone to the TiVo Corporation Fourth Quarter and Fiscal Year 2019 Results Conference Call. All lines have been placed on mute to prevent any background noise.

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

Nicole Noutsios

I'm Nicole Noutsios, Investor Relations at TiVo. With me today are Dave Shull, CEO and Wes Gutierrez, CFO. We just distributed a press release and filed an 8-K detailing our fourth quarter and full year 2019 financial results. In addition, we posted a downloadable model on our IR site showing our historical financial results and GAAP to non-GAAP reconciliation. We are simultaneously webcasting this call. After this call, a transcript of the Company's prepared remarks will be available and thereafter you will be able to access a recording of this call on our website at tivo.com as well.Our discussion includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, TiVo's future product business, our operating results and strategies to drive long-term profitable growth, our future actions to achieve additional annualized cost savings, our future product offerings and deployments and market acceptance of these offerings, the future growth, business opportunities and our operating results of each of the product and IP businesses, the timing and completion of the TiVo-Xperi combination, the achievement of anticipated cost and revenue synergies from the TiVo-Xperi combination and growth of the combined business, the acceptance of the combined TiVo-Xperi offerings by the marketplaces we serve, the timing, completion and its success, the planned future separation of the combined Company's product and IP businesses and the realization of stockholder value resulting from these transactions. We caution you not to put undue reliance on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from these forward-looking statements as described in our risk factors and our reports filed with the SEC. Any forward-looking statements made on this call reflect our analysis as of today. We have no plans or duty to update them except as required by law.

With that I will now turn the call over to our CEO, Dave Shull.

David Shull

Thank you for joining us for our fourth quarter 2019 earnings call. When I joined TiVo just eight months ago, I had a clear vision of how we would succeed as a business and it involved two key ideas. The first was genuinely understanding how people are going to consume entertainment content over the next five to 10 years. Entertainment content options are simultaneously expanding and fragmenting for everyone. This expansion and fragmentation is accelerating and the lines are now completely blurred between those who produce content and those who distribute it. Today, Netflix is making movies and Disney is a streaming service.

Further, it seems that every day there's a new participant using new channels and