Xperi’s expanding connected-car business helped power second-quarter growth as the company added new automotive partners, expanded the reach of its DTS AutoStage platform and posted stronger financial results driven in part by increasing advertising revenue. The entertainment technology company reported Q2 revenue of $114 million, up 8% from a year earlier. Adjusted EBITDA climbed 61% to $24.5 million. Advertising and related revenue surged 54%, reflecting continued expansion of the company’s media and automotive platforms. “The results of the second quarter clearly demonstrate strong execution against our strategic plan, including accelerated advertising and related revenue growth of over 50%,” Xperi CEO Jon Kirchner said on a Wednesday (Aug. 5) earnings call. “We continued to scale our platforms in both the home and automotive markets, which we believe provides sustainable competitive differentiation and drives long-term growth.” For broadcasters and automakers, the quarter underscored Xperi’s growing emphasis on connected vehicles, where the company sees opportunities to combine in-car entertainment, broadcast radio and advertising. The DTS AutoStage platform reached 17 million cumulative vehicles shipped during the quarter, a 42% increase from a year earlier. The platform is now deployed across 13 automotive brands, with Chinese EV giant BYD becoming the 14th automaker to join the program. Under the agreement, BYD plans to deploy Xperi’s audio and video platform across export models in its lineup, expanding the company’s reach in international markets. Xperi also continued building services around AutoStage that extend beyond the dashboard. During the quarter, Cumulus Media became the first customer for advanced analytics available through the DTS AutoStage broadcaster portal. That service provides broadcasters with data on listening behavior in connected vehicles. It also represents an advertising-related revenue stream for Xperi. The company also strengthened its HD Radio business. “In another win supporting the long-term adoption of our technologies, we signed a
Xperi Reports Strong Q2 Fueled By <b>Connected Cars</b>, HD Radio. | Story | insideradio.com
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