The loss for the three months ending January 31 compares to US$7.2 million profit for the same period last year, when the firm also received US$54.4 million from a legal settlement with AT&T.
However, the set-top-box firm said that fourth quarter net income would have beaten expectations had its litigation spend not been US$10.4 million – above the previously anticipated US$7 million to US$9 million. It added that excluding this spend, adjusted EBITDA was US$7.8 million
In the quarter, revenue reached US$88.9 million, compared to US$66.4 million in the same period a year earlier, with MSO revenue climbing 83% year-on-year. The firm also said that total subscriptions topped three million, up 38% over last year.
Looking ahead, Tom Rogers, President and CEO of TiVo, said that the firm was on-track to launch a “TV Everywhere web portal powered by TiVo with our first MSO customer.” He added that the firm will be releasing its “thin-client IP set-top box, TiVo Mini, in retail in the very near-future.”
He also said that TiVo anticipates that its research analytics business will become a larger contributor to its growth in the coming year. TiVo recently launched its TRA Crossmedia measurement service, which combines internet data, including display, online video, and social media with television viewing and purchase behaviour data.