TiVo — Q4 FY2016 Earnings Presentation
11 slides from TiVo's earnings presentation, Mar 1, 2016
Slide 1: Fourth Quarter Fiscal Year 2016 Earnings Presentation
Fourth Quarter Fiscal Year 2016 Earnings Presentation March 1, 2016 Exhibit 99.2
Slide 2: Disclaimer
Disclaimer Caution Regarding Forward Looking Statements. This presentation contains forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on current expectations and assumptions that are subject to risks and uncertainties and actual r
Slide 3: Why TiVo
Why TiVo 2 • Growing operator business • Great brand & reputation • Strong intellectual property • Accelerating earnings Growth • Strong focus on driving shareholder value TiVo provides critical ingredients for consumers and operators making the transition from traditional video to an on-demand, str
Slide 4: Fiscal Year 2016 Highlights
Fiscal Year 2016 Highlights 3 • Operator-related service & software revenue (1) grew 59% over Fiscal Year 2015. – New distribution with Millicom, Frontier, WOW!, NCTC, Supercanal, Global Satellite, and several others – Extended Virgin Media relationship – Acquired Cubiware to accelerate internationa
Slide 5: Operator Service and Software Revenue
$- $10 $20 $30 $40 $50 $60 $70 $80 $90 FY13 FY14 FY15 FY16 FY15 Q4 FY16 Q4 Operator Service and Software Revenue MSO Opportunity as of Q4 FY16 4 • Exited FY16 at ~$100M run rate • 54% YoY growth in Q4 operator-related service & software revenue • 70 operator deployments • Incremental service & softw
Slide 6: TiVo's Service Provider Clients
TiVo’s Service Provider Clients 6 “TiVo is the best connected TV certainly in the U.K. and I would argue in the world. It is produced by connected TV experts. It's all they do, that's why we've partnered with them.” — Neil Berkett, Former CEO, Virgin Media 5
Slide 7: Overview of TiVo Service Provider Products
Overview of TiVo Service Provider Products 7 TiVo has software for full range of offerings targeting different subscriber bases and different service infrastructures Enabled on a Wide Range of Hardware Platforms Integrated MSO & OTT services Mobile 6 Cloud/IPTV
Slide 8: Accelerated Profitability
$- $20 $40 $60 $80 $100 $120 $140 $160 $180 FY15 FY16 FY17 E Accelerated Profitability 7 • Fiscal Year 2017 Adjusted EBITDA of $145M to $155M • $30M or almost 29% Y/Y improvement at the midpoint • Net income up 107% Y/Y at midpoint • Achieved through a combination of revenue growth and cost manageme
Slide 9: Significant Adjusted EBITDA Improvement excluding impact of IP
Significant Adjusted EBITDA Improvement excluding impact of IP 8 • Close to a 50% reduction in Adjusted EBITDA losses excluding IP licensing revenue in FY’17 at midpoint of guidance ($70) ($60) ($50) ($40) ($30) ($20) F'13 FY'14 FY'15 FY'16 FY'17 Guidance range
Slide 10: FY 2017 Adjusted EBITDA Waterfall
$14.0 $46.0 $- $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 $160.0 $180.0 FY'16 Actual AEBITDA MSO HW, NRE, IP Licensing & TO Service Margin Operator Service Margin Growth & Cost Reductions FY'17 Projected AEBITDA AE BIT DA (M 's) FY 2017 Adjusted EBITDA Waterfall 9 $118.0 Guidance range of $145M -$
Slide 11: Fiscal Year 2017 Catalysts & Upside
Fiscal Year 2017 Catalysts & Upside 10 • Strong operator revenue growth • Incremental distribution wins • Will introduce next generation consumer product • Progress on intellectual property enforcement with nearing Samsung trial • Accelerated profitability in FY’17