TiVo finished the first quarter, ending April 30, with a total of over 7.1 million subscriptions.
This, according to the company, was a 28% increase on the 6.1 million figure posted a year earlier and included 312,000 first quarter net additions.
TiVo-owned susbcriptions increased slightly to 974,000 and gross additions by 8% year-on-year despite a 19% year-on-year reduction in acquistions spend.
Furthermore, TiVo churn, at 1.3%, was the lowest on a quarterly basis in seven years.
TiVo’s net revenues in the first quarter amounted to $107,257,000, down from the $114,734,000 total posted a year earlier. Ajusted EBITDA was $32,149,000 ($29,138,000) and its net income $4,155,000 ($7,879,000) in Q1 2015.
Commenting on the results, interim CEO Naveen Chopra said: “We are very pleased with our solid execution this quarter which continues to position us for a successful combination with Rovi. Rapid change in the video landscape continues to underscore the value of companies that can bring simple, distinctive, and comprehensive navigation to an increasingly fragmented world of video content and consumption. Together, TiVo and Rovi have the user interface, metadata, analytics, personalization technologies, and monetization capabilities to fulfill this vision. During Q1, we continued to deliver significant growth in our Service Provider business while also implementing a combination of previously announced restructuring efforts and new product development initiatives. All in all, it was a strong quarter which positioned us well to continue our mission as part of Rovi.”
