TiVo Fis. Q3 Revenue Increases 29%
Staff -- TWICE, 12/17/2001
San Jose, Calif. — Creator of TV services for digital video recorders TiVo reported a 29 percent increase in revenue for its fiscal third quarter ending Oct. 31, hitting $5.3 million, up from $4.1 million in the three-month period ending July 31 and up from $1.1 million in the year-ago period.
Net loss for the third quarter was $34.5 million, flat when compared with the second quarter, but an improvement over a loss of $72.7 million in the same three months in 2000. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the third quarter was a loss of $12.2 million, compared with a loss of $24 million in the second quarter and a loss of $66.1 million for the third quarter of last year.
TiVo's total subscriber base increased by 28 percent in the third quarter sequentially and 65 percent, compared with the same three months last year. During the third quarter, the company activated 51,000 new subscribers, bringing the total to about 280,000 as of Oct. 31.
For the nine months, TiVo revenue reached $12.5 million, up from $2.5 million in the year-ago period. Net loss for the period was $119.1 million, down from $135.1 million in the year-ago nine months. Adjusted EBITDA for the nine months was a loss of $76.6 million, down from the $121.1 million in the same period in 2000.
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