TiVo market cap is $777.7 m, and annual revenue was $668.13 m in FY 2019

TiVo Net income (Q1, 2020)-179.2 M

TiVo EBIT (Q1, 2020)-157.6 M

TiVo Cash, 31-Mar-2020108.5 M

TiVo EV1.4 B

TiVo revenue breakdown by business segment: 9.7% from Out-of-License Settlements and 90.3% from Goods and Services Transferred at a Point in Time

TiVo revenue breakdown by geographic segment: 39.6% from Goods and Services Transferred Over Time, 20.1% from Rest of the World and 40.3% from United States

USD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Revenue | 649.1m | 826.5m | 695.9m | 668.1m |

| 23% | 27% | (16%) | |

## Cost of goods sold | 158.7m | 214.4m | 188.6m | |

## Gross profit | 490.4m | 612.0m | 507.2m | |

| 76% | 74% | 73% | |

## R&D expense | 125.2m | 194.4m | 177.3m | 148.4m |

## General and administrative expense | 192.8m | 205.0m | 181.0m | 191.4m |

## Operating expense total | 468.9m | 607.3m | 806.2m | 347.6m |

## Depreciation and amortization | 123.7m | 188.8m | 168.8m | 134.0m |

## EBIT | 21.4m | 4.8m | (299.0m) | (342.6m) |

| 3% | 1% | (43%) | (51%) |

## Interest expense | 43.7m | 42.8m | 49.2m | |

## Pre tax profit | (24.4m) | (48.2m) | (339.0m) | (391.1m) |

## Income tax expense | (61.7m) | (10.3m) | 14.1m | 14.1m |

## Net Income | 32.7m | (38.0m) | (349.3m) | (410.1m) |

## EPS | 0.4 | (0.3) | (2.8) |

USD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Cash | 192.6m | 129.0m | 162.0m | 373.7m |

## Accounts Receivable | 117.1m | 180.8m | 152.9m | 158.0m |

## Prepaid Expenses | 27.0m | |||

## Inventories | 13.2m | 11.6m | 7.4m | 3.2m |

## Current Assets | 507.4m | 502.9m | 512.0m | 613.2m |

## PP&E | 48.4m | 55.2m | 53.6m | 48.3m |

## Goodwill | 1.8b | 1.8b | 1.5b | 1.2b |

## Total Assets | 3.3b | 3.2b | 2.8b | 2.4b |

## Accounts Payable | 226.5m | 135.9m | 105.0m | 11.8m |

## Short-term debt | 7.0m | 7.0m | 373.4m | 343.0m |

## Current Liabilities | 282.6m | 198.2m | 524.4m | 520.3m |

## Long-term debt | 1.0b | 103.3m | 678.4m | 704.1m |

## Total Debt | 1.0b | 110.3m | 1.1b | 1.0b |

## Total Liabilities | 1.4b | 1.0b | 1.3b | 1.3b |

## Common Stock | 121.0k | 123.0k | 126.0k | 129.0k |

## Preferred Stock | ||||

## Additional Paid-in Capital | 3.3b | 3.3b | 3.2b | 3.2b |

## Retained Earnings | (1.4b) | (1.4b) | (1.7b) | (2.1b) |

## Total Equity | 1.9b | 1.9b | 1.5b | 1.1b |

## Debt to Equity Ratio | 0.5 x | 0.1 x | 0.7 x | |

## Debt to Assets Ratio | 0.3 x | 0 x | 0.4 x | |

## Financial Leverage | 1.7 x | 1.7 x | 1.8 x | 2.2 x |

USD | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 |
---|---|---|---|---|---|---|---|---|---|---|

## Cash | 187.6m | 89.9m | 92.8m | 140.3m | 132.2m | 149.7m | 113.2m | 147.3m | 144.5m | 108.5m |

## Accounts Receivable | 174.8m | 184.9m | 191.0m | 188.3m | 190.2m | 173.7m | 156.5m | 177.8m | 183.8m | 164.6m |

## Prepaid Expenses | 30.8m | 27.4m | ||||||||

## Inventories | 11.6m | 10.9m | 11.7m | 13.2m | 10.2m | 8.0m | 6.1m | 3.8m | 3.1m | 2.9m |

## Current Assets | 512.6m | 450.7m | 475.4m | 524.8m | 537.0m | 529.5m | 467.7m | 476.9m | 494.4m | 303.5m |

## PP&E | 45.7m | 40.3m | 44.3m | 54.2m | 53.7m | 50.7m | 51.3m | 51.0m | 50.4m | 43.7m |

## Goodwill | 1.8b | 1.8b | 1.8b | 1.8b | 1.8b | 1.8b | 1.5b | 1.5b | 1.4b | 1.0b |

## Total Assets | 3.3b | 3.2b | 3.2b | 3.1b | 3.1b | 3.0b | 2.7b | 2.7b | 2.5b | 1.9b |

## Accounts Payable | 226.6m | 120.9m | 125.0m | 105.3m | 99.8m | 92.6m | 104.2m | 110.7m | 13.7m | 8.9m |

## Short-term debt | 7.0m | 7.0m | 7.0m | 7.0m | 7.0m | 7.0m | 330.5m | 285.9m | 289.3m | 66.5m |

## Current Liabilities | 278.9m | 175.4m | 199.4m | 157.2m | 151.8m | 149.2m | 484.6m | 447.9m | 446.7m | 196.4m |

## Long-term debt | 1.0b | 1.0b | 1.0b | 1.0b | 1.0b | 1.0b | 739.2m | 735.5m | 685.6m | 684.2m |

## Total Debt | 1.0b | 1.0b | 1.0b | 1.0b | 1.0b | 1.0b | 1.1b | 1.0b | 974.9m | 750.6m |

## Total Liabilities | 1.4b | 1.3b | 1.3b | 1.3b | 1.3b | 1.3b | 1.3b | 1.2b | 1.2b | 962.0m |

## Common Stock | 121.0k | 122.0k | 132.0k | 124.0k | 125.0k | 126.0k | 127.0k | 127.0k | 129.0k | 130.0k |

## Preferred Stock | ||||||||||

## Additional Paid-in Capital | 3.3b | 3.3b | 3.3b | 3.3b | 3.3b | 3.2b | 3.2b | 3.2b | 3.2b | 3.2b |

## Retained Earnings | (1.4b) | (1.4b) | (1.4b) | (1.4b) | (1.4b) | (1.4b) | (1.7b) | (1.7b) | (1.9b) | (2.3b) |

## Total Equity | 1.9b | 1.9b | 1.8b | 1.9b | 1.8b | 1.8b | 1.5b | 1.4b | 1.3b | 902.6m |

## Debt to Equity Ratio | 0.5 x | 0.6 x | 0.6 x | 0.6 x | 0.6 x | 0.6 x | 0.7 x | 0.7 x | ||

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.4 x | 0.4 x | ||

## Financial Leverage | 1.8 x | 1.7 x | 1.7 x | 1.7 x | 1.7 x | 1.7 x | 1.9 x | 1.9 x | 2 x | 2.1 x |

USD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Net Income | 32.7m | (38.0m) | (349.3m) | (410.1m) |

## Depreciation and Amortization | 123.7m | 188.8m | 168.8m | 134.0m |

## Accounts Receivable | (11.6m) | (31.9m) | 51.5m | (5.8m) |

## Inventories | 2.3m | 1.6m | 4.1m | 1.9m |

## Accounts Payable | 3.7m | |||

## Cash From Operating Activities | 133.5m | 132.1m | 158.5m | 113.4m |

## Purchases of PP&E | (20.3m) | (38.0m) | (23.9m) | (17.5m) |

## Cash From Investing Activities | 185.7m | (107.5m) | (32.6m) | 161.5m |

## Long-term Borrowings | (251.0m) | (689.5m) | (7.0m) | (717.9m) |

## Dividends Paid | (87.1m) | (87.1m) | (89.0m) | (42.5m) |

## Cash From Financing Activities | (228.1m) | (90.3m) | (92.4m) | (63.3m) |

## Net Change in Cash | 91.0m | (63.7m) | 33.0m | 211.8m |

USD | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q4, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 |
---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | (34.7m) | (39.4m) | (56.4m) | (38.0m) | (17.7m) | (38.3m) | (61.1m) | (26.6m) | 147.3m | (187.6m) | (179.2m) |

## Depreciation and Amortization | 47.2m | 94.2m | 141.0m | 188.8m | 46.6m | 93.1m | 135.7m | 33.5m | 67.1m | 100.6m | 33.1m |

## Accounts Receivable | (28.0m) | (36.2m) | (42.2m) | (31.9m) | 16.0m | 14.3m | 30.5m | (3.7m) | (25.6m) | (31.8m) | (9.0m) |

## Inventories | 1.6m | 2.3m | 1.5m | 1.6m | (1.6m) | 1.3m | 3.6m | 1.3m | 1.3m | 2.0m | 253.0k |

## Accounts Payable | (18.9m) | (26.0m) | (41.7m) | ||||||||

## Cash From Operating Activities | (19.7m) | 25.1m | 51.3m | 132.1m | 35.7m | 61.8m | 113.7m | 4.3m | 31.9m | 41.6m | (20.7m) |

## Purchases of PP&E | (7.1m) | (13.1m) | (22.5m) | (38.0m) | (7.9m) | (14.2m) | (17.1m) | (4.3m) | (8.9m) | (15.7m) | (2.7m) |

## Cash From Investing Activities | 36.1m | (84.6m) | (88.2m) | (107.5m) | (5.8m) | (13.6m) | (24.9m) | 10.6m | 78.0m | 74.0m | 48.6m |

## Long-term Borrowings | (684.2m) | (697.3m) | (700.5m) | (689.5m) | (1.7m) | (3.5m) | (5.2m) | (46.6m) | (96.0m) | (96.0m) | (296.8m) |

## Dividends Paid | (21.7m) | (43.3m) | (65.2m) | (87.1m) | (22.2m) | (44.3m) | (66.7m) | (22.5m) | (32.5m) | (42.5m) | |

## Cash From Financing Activities | (22.3m) | (44.7m) | (64.5m) | (90.3m) | (19.2m) | (44.5m) | (67.7m) | (63.6m) | (124.7m) | (133.0m) | (292.2m) |

## Net Change in Cash | (5.0m) | (102.7m) | (99.8m) | (63.7m) | 11.3m | 3.2m | 20.7m | (48.8m) | (14.6m) | (17.5m) | (265.2m) |

USD | Y, 2020 |
---|---|

## EV/EBIT | -9 x |

## EV/CFO | -68.6 x |

## Financial Leverage | 2.1 x |

TiVo's Pay-TV Subscribers was reported to be 160 m in FY, 2018.

FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | |
---|---|---|---|---|

## Active Athletes | 50 k | 132 k | 144 k | |

## E-books | 10 m | 11.40 m | 12.10 m | 12.50 m |

## Games | 79 k | 117 k | 122 k | 129 k |

## Music Albums | 3.40 m | 3.70 m | 3.90 m | 4 m |

## Patents (Foreign) | 3 k | 2.50 k | 2.60 k | |

## Patents Pending (Foreign) | 800 | 900 | ||

## Patents Pending (US) | 700 | 600 | ||

## Patents to Date | 6 k | 5.50 k | 4.20 k | |

## Pay-TV Subscribers | 136 m | 154 m | 160 m | |

## Songs | 31 m | 32.80 m | 34 m | 35 m |

## Sporting Events | 55 k | 123 k | 159 k | |

## Video Programs | 6.50 m | 10 m | 16.70 m | 19.70 m |