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Share Name | Share Symbol | Market | Type |
---|---|---|---|
TiVo Corporation | NASDAQ:TIVO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.09 | 6.36 | 6.69 | 0 | 01:00:00 |
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
|
|
|
61-1793262
|
(State or other jurisdiction of
incorporation or organization)
|
|
|
|
|
(I.R.S. Employer
Identification No.)
|
2160 Gold Street
|
,
|
San Jose
|
,
|
California
|
95002
|
(Address of principal executive offices, including zip code)
|
Title of Each Class
|
|
Trading Symbol(s)
|
|
Name of Each Exchange on Which Registered
|
Common Stock, par value $0.001 per share
|
|
TIVO
|
|
The Nasdaq Stock Market LLC
|
|
|
(Nasdaq Global Select Market)
|
||
Series A Junior Participating Preferred Stock Purchase Rights
|
|
N/A
|
|
The Nasdaq Stock Market LLC
|
|
|
(Nasdaq Global Select Market)
|
Large accelerated filer
|
☑
|
|
Accelerated filer
|
☐
|
|
Non-accelerated filer
|
☐
|
Smaller reporting company
|
☐
|
|
Emerging growth company
|
☐
|
|
|
|
PART I. FINANCIAL INFORMATION
|
||
ITEM 1.
|
||
|
||
|
||
|
||
|
||
|
||
|
||
ITEM 2.
|
||
ITEM 3.
|
||
ITEM 4.
|
||
|
||
PART II. OTHER INFORMATION
|
||
ITEM 1.
|
||
ITEM 1A.
|
||
ITEM 2.
|
||
ITEM 3.
|
||
ITEM 4.
|
||
ITEM 5.
|
||
ITEM 6.
|
||
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
ASSETS
|
(Unaudited)
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
108,519
|
|
|
$
|
373,719
|
|
Short-term marketable securities
|
—
|
|
|
51,293
|
|
||
Accounts receivable, net
|
164,618
|
|
|
158,016
|
|
||
Inventory
|
2,944
|
|
|
3,197
|
|
||
Prepaid expenses and other current assets
|
27,393
|
|
|
27,023
|
|
||
Total current assets
|
303,474
|
|
|
613,248
|
|
||
Property and equipment, net
|
43,706
|
|
|
48,264
|
|
||
Intangible assets, net
|
386,524
|
|
|
415,054
|
|
||
Goodwill
|
1,018,310
|
|
|
1,189,825
|
|
||
Right-of-use assets
|
56,405
|
|
|
59,888
|
|
||
Other long-term assets
|
56,183
|
|
|
56,293
|
|
||
Total assets
|
$
|
1,864,602
|
|
|
$
|
2,382,572
|
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable and accrued expenses
|
$
|
81,427
|
|
|
$
|
126,249
|
|
Unearned revenue
|
48,502
|
|
|
50,968
|
|
||
Current portion of long-term debt
|
66,450
|
|
|
343,035
|
|
||
Total current liabilities
|
196,379
|
|
|
520,252
|
|
||
Unearned revenue, less current portion
|
37,292
|
|
|
39,879
|
|
||
Long-term debt, less current portion
|
625,867
|
|
|
642,504
|
|
||
Deferred tax liabilities, net
|
29,603
|
|
|
34,231
|
|
||
Long-term lease liabilities
|
58,303
|
|
|
61,603
|
|
||
Other long-term liabilities
|
14,596
|
|
|
10,420
|
|
||
Total liabilities
|
962,040
|
|
|
1,308,889
|
|
||
Contingencies (Note 9)
|
|
|
|
|
|
||
Stockholders' equity:
|
|
|
|
||||
Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued or outstanding
|
—
|
|
|
—
|
|
||
Common stock, $0.001 par value, 250,000 shares authorized; 130,290 shares issued and 127,654 shares outstanding as of March 31, 2020; and 129,216 shares issued and 126,666 shares outstanding as of December 31, 2019
|
130
|
|
|
129
|
|
||
Treasury stock, 2,636 shares and 2,550 shares as of March 31, 2020 and December 31, 2019, respectively, at cost
|
(38,819
|
)
|
|
(38,176
|
)
|
||
Additional paid-in capital
|
3,247,562
|
|
|
3,235,996
|
|
||
Accumulated other comprehensive loss
|
(5,021
|
)
|
|
(3,612
|
)
|
||
Accumulated deficit
|
(2,301,290
|
)
|
|
(2,120,654
|
)
|
||
Total stockholders’ equity
|
902,562
|
|
|
1,073,683
|
|
||
Total liabilities and stockholders’ equity
|
$
|
1,864,602
|
|
|
$
|
2,382,572
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Revenues, net:
|
|
|
|
||||
Licensing, services and software
|
$
|
157,238
|
|
|
$
|
156,161
|
|
Hardware
|
2,623
|
|
|
2,074
|
|
||
Total Revenues, net
|
159,861
|
|
|
158,235
|
|
||
Costs and expenses:
|
|
|
|
||||
Cost of licensing, services and software revenues, excluding depreciation and amortization of intangible assets
|
37,396
|
|
|
39,433
|
|
||
Cost of hardware revenues, excluding depreciation and amortization of intangible assets
|
5,022
|
|
|
4,093
|
|
||
Research and development
|
33,744
|
|
|
41,381
|
|
||
Selling, general and administrative
|
35,897
|
|
|
45,993
|
|
||
Depreciation
|
4,968
|
|
|
5,364
|
|
||
Amortization of intangible assets
|
28,142
|
|
|
28,178
|
|
||
Restructuring and asset impairment charges
|
739
|
|
|
1,813
|
|
||
Goodwill impairment
|
171,572
|
|
|
—
|
|
||
Total costs and expenses
|
317,480
|
|
|
166,255
|
|
||
Operating loss
|
(157,619
|
)
|
|
(8,020
|
)
|
||
Interest expense
|
(17,049
|
)
|
|
(12,161
|
)
|
||
Interest income and other, net
|
187
|
|
|
1,775
|
|
||
Loss on interest rate swaps
|
(5,119
|
)
|
|
(1,721
|
)
|
||
Loss on debt extinguishment
|
—
|
|
|
(199
|
)
|
||
Loss before income taxes
|
(179,600
|
)
|
|
(20,326
|
)
|
||
Income tax (benefit) expense
|
(416
|
)
|
|
6,318
|
|
||
Net loss
|
$
|
(179,184
|
)
|
|
$
|
(26,644
|
)
|
|
|
|
|
||||
Basic loss per share
|
$
|
(1.41
|
)
|
|
$
|
(0.21
|
)
|
Weighted average shares used in computing basic per share amounts
|
127,124
|
|
|
124,422
|
|
||
|
|
|
|
||||
Diluted loss per share
|
$
|
(1.41
|
)
|
|
$
|
(0.21
|
)
|
Weighted average shares used in computing diluted per share amounts
|
127,124
|
|
|
124,422
|
|
||
|
|
|
|
||||
Dividends declared per share
|
$
|
—
|
|
|
$
|
0.18
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Net loss
|
$
|
(179,184
|
)
|
|
$
|
(26,644
|
)
|
Other comprehensive (loss) income, net of tax:
|
|
|
|
||||
Change in foreign currency translation adjustment
|
(1,420
|
)
|
|
(287
|
)
|
||
Unrealized gains on marketable securities
|
|
|
|
||||
Change in unrealized gains on marketable securities
|
—
|
|
|
501
|
|
||
Less: Reclassification adjustment
|
48
|
|
|
—
|
|
||
Other comprehensive (loss) income, net of tax
|
(1,372
|
)
|
|
214
|
|
||
Comprehensive loss
|
$
|
(180,556
|
)
|
|
$
|
(26,430
|
)
|
|
Common stock
|
Treasury stock
|
Additional paid-in capital
|
Accumulated other comprehensive loss
|
Accumulated deficit
|
Total stockholders’ equity
|
||||||||||||||||
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
Balance as of December 31, 2018
|
125,781
|
|
$
|
126
|
|
(1,806
|
)
|
$
|
(32,124
|
)
|
$
|
3,239,395
|
|
$
|
(3,869
|
)
|
$
|
(1,710,587
|
)
|
$
|
1,492,941
|
|
Net loss
|
|
|
|
|
|
|
(26,644
|
)
|
(26,644
|
)
|
||||||||||||
Other comprehensive income, net of tax
|
|
|
|
|
|
214
|
|
|
214
|
|
||||||||||||
Issuance of common stock under employee stock purchase plan
|
735
|
|
1
|
|
|
|
6,951
|
|
|
|
6,952
|
|
||||||||||
Issuance of restricted stock, net
|
325
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
||||||||||
Equity-based compensation
|
|
|
|
|
8,433
|
|
|
|
8,433
|
|
||||||||||||
Dividends
|
|
|
|
|
(22,469
|
)
|
|
|
(22,469
|
)
|
||||||||||||
Withholding taxes related to net share settlement of restricted awards
|
|
|
(140
|
)
|
(1,397
|
)
|
|
|
|
(1,397
|
)
|
|||||||||||
Balance as of March 31, 2019
|
126,841
|
|
$
|
127
|
|
(1,946
|
)
|
$
|
(33,521
|
)
|
$
|
3,232,310
|
|
$
|
(3,655
|
)
|
$
|
(1,737,231
|
)
|
$
|
1,458,030
|
|
|
Common stock
|
Treasury stock
|
Additional paid-in capital
|
Accumulated other comprehensive loss
|
Accumulated deficit
|
Total stockholders’ equity
|
||||||||||||||||
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
Balance as of December 31, 2019
|
129,216
|
|
$
|
129
|
|
(2,550
|
)
|
$
|
(38,176
|
)
|
$
|
3,235,996
|
|
$
|
(3,612
|
)
|
$
|
(2,120,654
|
)
|
$
|
1,073,683
|
|
Cumulative effect adjustment
|
|
|
|
|
|
(37
|
)
|
(1,452
|
)
|
(1,489
|
)
|
|||||||||||
Net loss
|
|
|
|
|
|
|
(179,184
|
)
|
(179,184
|
)
|
||||||||||||
Other comprehensive loss, net of tax
|
|
|
|
|
|
(1,372
|
)
|
|
(1,372
|
)
|
||||||||||||
Issuance of common stock under employee stock purchase plan
|
847
|
|
1
|
|
|
|
5,238
|
|
|
|
5,239
|
|
||||||||||
Issuance of restricted stock, net
|
227
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
||||||||||
Equity-based compensation
|
|
|
|
|
6,328
|
|
|
|
6,328
|
|
||||||||||||
Withholding taxes related to net share settlement of restricted awards
|
|
|
(86
|
)
|
(643
|
)
|
|
|
|
(643
|
)
|
|||||||||||
Balance as of March 31, 2020
|
130,290
|
|
$
|
130
|
|
(2,636
|
)
|
$
|
(38,819
|
)
|
$
|
3,247,562
|
|
$
|
(5,021
|
)
|
$
|
(2,301,290
|
)
|
$
|
902,562
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Operating activities:
|
|
|
|
||||
Net loss
|
$
|
(179,184
|
)
|
|
$
|
(26,644
|
)
|
Adjustments to reconcile net loss to net cash provided by operating activities:
|
|
|
|
||||
Depreciation
|
4,968
|
|
|
5,364
|
|
||
Amortization of intangible assets
|
28,142
|
|
|
28,178
|
|
||
Amortization of convertible note discount and note issuance costs
|
3,597
|
|
|
4,007
|
|
||
Restructuring and asset impairment charges
|
739
|
|
|
1,813
|
|
||
Goodwill impairment
|
171,572
|
|
|
—
|
|
||
Equity-based compensation
|
6,296
|
|
|
8,379
|
|
||
Change in fair value of interest rate swaps
|
4,181
|
|
|
4,646
|
|
||
Loss on debt extinguishment
|
—
|
|
|
199
|
|
||
Deferred income taxes
|
(4,481
|
)
|
|
(672
|
)
|
||
Other operating, net
|
1,411
|
|
|
28
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(9,030
|
)
|
|
(3,672
|
)
|
||
Inventory
|
253
|
|
|
1,303
|
|
||
Prepaid expenses and other current assets and other long-term assets
|
(60
|
)
|
|
(3,860
|
)
|
||
Right-of-use assets, net of lease liabilities
|
(732
|
)
|
|
(413
|
)
|
||
Accounts payable and accrued expenses and other long-term liabilities
|
(41,672
|
)
|
|
(17,947
|
)
|
||
Taxes payable
|
(1,243
|
)
|
|
1,378
|
|
||
Unearned revenue
|
(5,053
|
)
|
|
2,238
|
|
||
Net cash (used in) provided by operating activities - Continuing operations
|
(20,296
|
)
|
|
4,325
|
|
||
Net cash used in operating activities - Discontinued operations
|
(406
|
)
|
|
—
|
|
||
Net cash (used in) provided by operating activities
|
(20,702
|
)
|
|
4,325
|
|
||
Investing activities:
|
|
|
|
||||
Payments for purchase of short- and long-term marketable securities
|
—
|
|
|
(29,849
|
)
|
||
Proceeds from sales or maturities of securities
|
51,310
|
|
|
49,000
|
|
||
Payments for purchase of property and equipment
|
(2,683
|
)
|
|
(4,305
|
)
|
||
Payments for acquisition of patents
|
—
|
|
|
(4,250
|
)
|
||
Other investing, net
|
—
|
|
|
3
|
|
||
Net cash provided by investing activities
|
48,627
|
|
|
10,599
|
|
||
Financing activities:
|
|
|
|
||||
Principal payments on long-term debt
|
(296,788
|
)
|
|
(46,588
|
)
|
||
Payments for dividends
|
—
|
|
|
(22,544
|
)
|
||
Payments for withholding taxes related to net settlement of restricted awards
|
(643
|
)
|
|
(1,397
|
)
|
||
Proceeds from employee stock purchase plan
|
5,239
|
|
|
6,952
|
|
||
Net cash used in financing activities
|
(292,192
|
)
|
|
(63,577
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(933
|
)
|
|
(120
|
)
|
||
Net decrease in cash and cash equivalents
|
(265,200
|
)
|
|
(48,773
|
)
|
||
Cash and cash equivalents at beginning of period
|
373,719
|
|
|
161,955
|
|
||
Cash and cash equivalents at end of period
|
$
|
108,519
|
|
|
$
|
113,182
|
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Computer software and equipment
|
$
|
162,017
|
|
|
$
|
160,893
|
|
Leasehold improvements
|
45,246
|
|
|
46,383
|
|
||
Furniture and fixtures
|
9,991
|
|
|
10,054
|
|
||
Property and equipment, gross
|
217,254
|
|
|
217,330
|
|
||
Less: Accumulated depreciation and amortization
|
(173,548
|
)
|
|
(169,066
|
)
|
||
Property and equipment, net
|
$
|
43,706
|
|
|
$
|
48,264
|
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Accounts payable
|
$
|
8,881
|
|
|
$
|
11,801
|
|
Accrued compensation and benefits
|
20,015
|
|
|
44,456
|
|
||
Other accrued liabilities
|
52,531
|
|
|
69,992
|
|
||
Accounts payable and accrued expenses
|
$
|
81,427
|
|
|
$
|
126,249
|
|
|
Three Months Ended March 31, 2020
|
|
Three Months Ended March 31, 2019
|
||||||||||||||||||||
|
Product
|
|
Intellectual Property Licensing
|
|
Total Revenues, net
|
|
Product
|
|
Intellectual Property Licensing
|
|
Total Revenues, net
|
||||||||||||
Goods and services transferred at a point in time
|
$
|
18,620
|
|
|
$
|
32,674
|
|
|
$
|
51,294
|
|
|
$
|
20,994
|
|
|
$
|
28,127
|
|
|
$
|
49,121
|
|
Goods and services transferred over time
|
67,856
|
|
|
37,211
|
|
|
105,067
|
|
|
70,309
|
|
|
36,701
|
|
|
107,010
|
|
||||||
Out-of-license settlements
|
—
|
|
|
3,500
|
|
|
3,500
|
|
|
—
|
|
|
2,104
|
|
|
2,104
|
|
||||||
Total Revenues, net
|
$
|
86,476
|
|
|
$
|
73,385
|
|
|
$
|
159,861
|
|
|
$
|
91,303
|
|
|
$
|
66,932
|
|
|
$
|
158,235
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
United States
|
$
|
116,892
|
|
|
$
|
107,838
|
|
Rest of the world
|
42,969
|
|
|
50,397
|
|
||
Total Revenues, net
|
$
|
159,861
|
|
|
$
|
158,235
|
|
|
Balance as of
|
|
Cumulative Effect Adjustment
|
|
Balance as of
|
||||||
Effect of adoption
|
December 31, 2019
|
|
|
January 1, 2020
|
|||||||
Accounts receivable, net
|
$
|
158,016
|
|
|
$
|
(1,463
|
)
|
|
$
|
156,553
|
|
Deferred tax liabilities, net
|
34,231
|
|
|
48
|
|
|
34,279
|
|
|||
Accumulated other comprehensive loss
|
(3,612
|
)
|
|
(37
|
)
|
|
(3,649
|
)
|
|||
Accumulated deficit
|
(2,120,654
|
)
|
|
(1,452
|
)
|
|
(2,122,106
|
)
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Accounts receivable, gross
|
$
|
168,898
|
|
|
$
|
160,139
|
|
Less: Allowance for credit losses
|
(4,280
|
)
|
|
(2,123
|
)
|
||
Accounts receivable, net
|
$
|
164,618
|
|
|
$
|
158,016
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Balance at beginning of period
|
$
|
(2,123
|
)
|
|
$
|
(2,842
|
)
|
Cumulative effect adjustment
|
(1,463
|
)
|
|
—
|
|
||
Provision for bad debt
|
(965
|
)
|
|
(68
|
)
|
||
Deductions and write-offs, net
|
271
|
|
|
424
|
|
||
Balance at end of period
|
$
|
(4,280
|
)
|
|
$
|
(2,486
|
)
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Accounts receivable, net
|
$
|
67,479
|
|
|
$
|
56,862
|
|
Prepaid expenses and other current assets
|
3,420
|
|
|
2,600
|
|
||
Other long-term assets
|
10,878
|
|
|
11,514
|
|
||
Total contract assets, net
|
$
|
81,777
|
|
|
$
|
70,976
|
|
•
|
Level 1. Quoted prices in active markets for identical assets or liabilities.
|
•
|
Level 2. Inputs other than Level 1 inputs that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or market-corroborated inputs.
|
•
|
Level 3. Unobservable inputs for the asset or liability.
|
As of December 31, 2019
|
|
Amortized Cost
|
|
Gross Unrealized Gains
|
|
Gross Unrealized Losses
|
|
Estimated Fair Value
|
|
Cash and Cash Equivalents
|
|
Short-Term Investments
|
||||||||||||
Cash
|
|
$
|
119,349
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
119,349
|
|
|
$
|
119,349
|
|
|
$
|
—
|
|
Level 1:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Money market funds
|
|
226,111
|
|
|
—
|
|
|
—
|
|
|
226,111
|
|
|
226,111
|
|
|
—
|
|
||||||
Level 1 Subtotal
|
|
226,111
|
|
|
—
|
|
|
—
|
|
|
226,111
|
|
|
226,111
|
|
|
—
|
|
||||||
Level 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Corporate debt securities
|
|
40,522
|
|
|
—
|
|
|
(1
|
)
|
|
40,521
|
|
|
16,280
|
|
|
24,241
|
|
||||||
U.S. Treasuries / Agencies
|
|
39,009
|
|
|
32
|
|
|
(10
|
)
|
|
39,031
|
|
|
11,979
|
|
|
27,052
|
|
||||||
Level 2 Subtotal
|
|
79,531
|
|
|
32
|
|
|
(11
|
)
|
|
79,552
|
|
|
28,259
|
|
|
51,293
|
|
||||||
Total assets
|
|
$
|
424,991
|
|
|
$
|
32
|
|
|
$
|
(11
|
)
|
|
$
|
425,012
|
|
|
$
|
373,719
|
|
|
$
|
51,293
|
|
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
|
|
Significant Other
Observable Inputs (Level 2) |
|
Significant Other
Observable Inputs (Level 2) |
||||
Liabilities
|
|
|
|
|
||||
Other long-term liabilities
|
|
|
|
|
||||
Interest rate swaps
|
|
$
|
(10,294
|
)
|
|
$
|
(6,120
|
)
|
Total Liabilities
|
|
$
|
(10,294
|
)
|
|
$
|
(6,120
|
)
|
|
March 31, 2020
|
|
December 31, 2019
|
||||||||||||
|
Carrying Amount
|
|
Fair Value (a)
|
|
Carrying Amount
|
|
Fair Value (a)
|
||||||||
2020 Convertible Notes
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
292,699
|
|
|
$
|
292,419
|
|
2021 Convertible Notes
|
48
|
|
|
48
|
|
|
48
|
|
|
48
|
|
||||
2019 Term Loan Facility
|
692,269
|
|
|
734,606
|
|
|
692,792
|
|
|
736,110
|
|
||||
Total Long-term debt
|
$
|
692,317
|
|
|
$
|
734,654
|
|
|
$
|
985,539
|
|
|
$
|
1,028,577
|
|
(a)
|
If reported at fair value in the Condensed Consolidated Balance Sheets, debt issued or assumed by the Company would be classified in Level 2 of the fair value hierarchy.
|
|
March 31, 2020
|
||||||||||
|
Gross
|
|
Accumulated
Amortization |
|
Net
|
||||||
Finite-lived intangible assets
|
|
|
|
|
|
||||||
Developed technology and patents
|
$
|
1,064,962
|
|
|
$
|
(878,295
|
)
|
|
$
|
186,667
|
|
Existing contracts and customer relationships
|
402,186
|
|
|
(220,948
|
)
|
|
181,238
|
|
|||
Content databases and other
|
57,466
|
|
|
(52,847
|
)
|
|
4,619
|
|
|||
Trademarks / Tradenames
|
8,300
|
|
|
(8,300
|
)
|
|
—
|
|
|||
Total finite-lived intangible assets
|
1,532,914
|
|
|
(1,160,390
|
)
|
|
372,524
|
|
|||
Indefinite-lived intangible assets
|
|
|
|
|
|
||||||
TiVo Tradename
|
14,000
|
|
|
—
|
|
|
14,000
|
|
|||
Total intangible assets
|
$
|
1,546,914
|
|
|
$
|
(1,160,390
|
)
|
|
$
|
386,524
|
|
|
December 31, 2019
|
||||||||||
|
Gross
|
|
Accumulated
Amortization |
|
Net
|
||||||
Finite-lived intangible assets
|
|
|
|
|
|
||||||
Developed technology and patents
|
$
|
1,065,506
|
|
|
$
|
(855,934
|
)
|
|
$
|
209,572
|
|
Existing contracts and customer relationships
|
402,695
|
|
|
(216,148
|
)
|
|
186,547
|
|
|||
Content databases and other
|
57,410
|
|
|
(52,475
|
)
|
|
4,935
|
|
|||
Trademarks / Tradenames
|
8,300
|
|
|
(8,300
|
)
|
|
—
|
|
|||
Total finite-lived intangible assets
|
1,533,911
|
|
|
(1,132,857
|
)
|
|
401,054
|
|
|||
Indefinite-lived intangible assets
|
|
|
|
|
|
||||||
TiVo Tradename
|
14,000
|
|
|
—
|
|
|
14,000
|
|
|||
Total intangible assets
|
$
|
1,547,911
|
|
|
$
|
(1,132,857
|
)
|
|
$
|
415,054
|
|
Remainder of 2020
|
$
|
84,228
|
|
2021
|
69,577
|
|
|
2022
|
41,913
|
|
|
2023
|
24,860
|
|
|
2024
|
21,859
|
|
|
Thereafter
|
130,087
|
|
|
Total
|
$
|
372,524
|
|
|
Product
|
|
Intellectual Property Licensing
|
|
Total
|
||||||
December 31, 2019
|
$
|
153,226
|
|
|
$
|
1,036,599
|
|
|
$
|
1,189,825
|
|
Impairment
|
(76,070
|
)
|
|
(95,502
|
)
|
|
(171,572
|
)
|
|||
Foreign currency translation
|
57
|
|
|
—
|
|
|
57
|
|
|||
March 31, 2020
|
$
|
77,213
|
|
|
$
|
941,097
|
|
|
$
|
1,018,310
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Facility-related costs
|
$
|
65
|
|
|
$
|
—
|
|
Severance costs
|
674
|
|
|
1,813
|
|
||
Restructuring and asset impairment charges
|
$
|
739
|
|
|
$
|
1,813
|
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Severance costs
|
$
|
1,720
|
|
|
$
|
2,264
|
|
Accrued restructuring costs
|
$
|
1,720
|
|
|
$
|
2,264
|
|
|
Balance at Beginning of Period
|
|
Restructuring Expense
|
|
Cash Settlements
|
|
Non-Cash Settlements
|
|
Other
|
|
Balance at End of Period
|
||||||||||||
Severance costs
|
$
|
603
|
|
|
$
|
597
|
|
|
$
|
(787
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
413
|
|
Total
|
$
|
603
|
|
|
$
|
597
|
|
|
$
|
(787
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
413
|
|
|
Balance at Beginning of Period
|
|
Restructuring Expense
|
|
Cash Settlements
|
|
Non-Cash Settlements
|
|
Other
|
|
Balance at End of Period
|
||||||||||||
Facility-related costs
|
$
|
—
|
|
|
$
|
65
|
|
|
$
|
—
|
|
|
$
|
(65
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
Severance costs
|
1,522
|
|
|
77
|
|
|
(410
|
)
|
|
—
|
|
|
(24
|
)
|
|
1,165
|
|
||||||
Total
|
$
|
1,522
|
|
|
$
|
142
|
|
|
$
|
(410
|
)
|
|
$
|
(65
|
)
|
|
$
|
(24
|
)
|
|
$
|
1,165
|
|
|
|
|
|
March 31, 2020
|
|
December 31, 2019
|
||||||||||
|
Stated Interest Rate
|
Issue Date
|
Maturity Date
|
Outstanding Principal
|
Carrying Amount
|
|
Outstanding Principal
|
Carrying Amount
|
||||||||
2020 Convertible Notes
|
0.500%
|
March 4, 2015
|
March 1, 2020
|
$
|
—
|
|
$
|
—
|
|
|
$
|
295,000
|
|
$
|
292,699
|
|
2021 Convertible Notes
|
2.000%
|
September 22, 2014
|
October 1, 2021
|
48
|
|
48
|
|
|
48
|
|
48
|
|
||||
2019 Term Loan Facility
|
Variable
|
November 22, 2019
|
November 22, 2024
|
713,210
|
|
692,269
|
|
|
715,000
|
|
692,792
|
|
||||
Total Long-term debt
|
|
|
|
$
|
713,258
|
|
692,317
|
|
|
$
|
1,010,048
|
|
985,539
|
|
||
Less: Current portion of long-term debt
|
|
|
|
|
66,450
|
|
|
|
343,035
|
|
||||||
Long-term debt, less current portion
|
|
|
|
|
$
|
625,867
|
|
|
|
$
|
642,504
|
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Liability component
|
|
|
|
||||
Principal outstanding
|
$
|
—
|
|
|
$
|
295,000
|
|
Less: Unamortized debt discount
|
—
|
|
|
(2,031
|
)
|
||
Less: Unamortized debt issuance costs
|
—
|
|
|
(270
|
)
|
||
Carrying amount
|
$
|
—
|
|
|
$
|
292,699
|
|
|
|
|
|
||||
Equity component
|
$
|
62,858
|
|
|
$
|
62,858
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Stated interest
|
$
|
245
|
|
|
$
|
431
|
|
Amortization of debt discount
|
2,031
|
|
|
3,409
|
|
||
Amortization of debt issuance costs
|
270
|
|
|
432
|
|
||
Total interest expense
|
$
|
2,546
|
|
|
$
|
4,272
|
|
Remainder of 2020
|
$
|
53,623
|
|
2021
|
71,548
|
|
|
2022
|
71,500
|
|
|
2023
|
71,500
|
|
|
2024
|
445,087
|
|
|
Total
|
$
|
713,258
|
|
|
|
|
Notional
|
|
|
|||||
Contract Inception
|
Contract Effective Date
|
Contract Maturity
|
March 31, 2020
|
December 31, 2019
|
Interest Rate Paid
|
Interest Rate Received
|
||||
September 2014
|
January 2016
|
July 2021
|
$
|
125,000
|
|
$
|
125,000
|
|
2.66%
|
One-month USD-LIBOR
|
September 2014
|
March 2017
|
July 2021
|
$
|
200,000
|
|
$
|
200,000
|
|
2.93%
|
One-month USD-LIBOR
|
|
Three Months Ended March 31,
|
||||||
Classification
|
2020
|
|
2019
|
||||
Fixed lease cost
|
$
|
4,080
|
|
|
$
|
4,493
|
|
Variable lease cost
|
1,145
|
|
|
1,381
|
|
||
Short-term lease cost
|
41
|
|
|
193
|
|
||
Less: Sublease income
|
(2,077
|
)
|
|
(2,235
|
)
|
||
Total operating lease cost
|
$
|
3,189
|
|
|
$
|
3,832
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Operating cash flows:
|
|
|
|
||||
Cash paid for amounts included in the measurement of operating Lease liabilities
|
$
|
4,583
|
|
|
$
|
4,895
|
|
Non-cash activity:
|
|
|
|
||||
Right-of-use assets obtained in exchange for operating Lease liabilities, net
|
$
|
—
|
|
|
$
|
1,902
|
|
Remeasurement of Right-of-use assets
|
$
|
(290
|
)
|
|
$
|
—
|
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Right-of-use assets
|
$
|
56,405
|
|
|
$
|
59,888
|
|
|
|
|
|
||||
Lease liabilities - current
|
$
|
12,035
|
|
|
$
|
13,009
|
|
Lease liabilities - non current
|
58,303
|
|
|
61,603
|
|
||
Total Lease liabilities
|
$
|
70,338
|
|
|
$
|
74,612
|
|
|
|
|
|
||||
Weighted average remaining lease term
|
6.0 years
|
|
|
6.0 years
|
|
||
Weighted average discount rate
|
6.7
|
%
|
|
6.6
|
%
|
|
Operating Lease Liabilities
|
|
Sublease Income
|
|
Net Operating Lease Payments
|
||||||
Remainder of 2020
|
$
|
12,312
|
|
|
$
|
(4,325
|
)
|
|
$
|
7,987
|
|
2021
|
16,604
|
|
|
(5,738
|
)
|
|
10,866
|
|
|||
2022
|
13,712
|
|
|
(5,909
|
)
|
|
7,803
|
|
|||
2023
|
11,681
|
|
|
(6,081
|
)
|
|
5,600
|
|
|||
2024
|
11,995
|
|
|
(6,256
|
)
|
|
5,739
|
|
|||
Thereafter
|
19,715
|
|
|
(7,214
|
)
|
|
12,501
|
|
|||
Total lease payments
|
86,019
|
|
|
(35,523
|
)
|
|
50,496
|
|
|||
Less: imputed interest
|
(15,681
|
)
|
|
—
|
|
|
(15,681
|
)
|
|||
Total
|
$
|
70,338
|
|
|
$
|
(35,523
|
)
|
|
$
|
34,815
|
|
|
Three Months Ended March 31,
|
||||
|
2020
|
|
2019
|
||
Weighted average shares used in computing basic per share amounts
|
127,124
|
|
|
124,422
|
|
Dilutive effect of equity-based compensation awards
|
—
|
|
|
—
|
|
Weighted average shares used in computing diluted per share amounts
|
127,124
|
|
|
124,422
|
|
|
Three Months Ended March 31,
|
||||
|
2020
|
|
2019
|
||
Restricted awards
|
5,225
|
|
|
5,085
|
|
Stock options
|
503
|
|
|
1,290
|
|
2020 Convertible Notes (a)
|
7,857
|
|
|
13,411
|
|
2021 Convertible Notes (a)
|
1
|
|
|
1
|
|
Warrants related to 2020 Convertible Notes (a)
|
12,999
|
|
|
12,821
|
|
Weighted average potential shares excluded from the calculation of Diluted EPS
|
26,585
|
|
|
32,608
|
|
(a)
|
See Note 7 for additional details.
|
|
Three Months Ended March 31,
|
||||
|
2020
|
|
2019
|
||
ESPP shares:
|
|
|
|
||
Expected volatility
|
45.3
|
%
|
|
52.3
|
%
|
Expected term
|
1.3 years
|
|
|
1.3 years
|
|
Risk-free interest rate
|
1.4
|
%
|
|
2.5
|
%
|
Expected dividend yield
|
0
|
%
|
|
6.5
|
%
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Weighted average grant date fair value
|
|
|
|
||||
Restricted awards
|
$
|
7.71
|
|
|
$
|
8.58
|
|
ESPP shares
|
$
|
3.91
|
|
|
$
|
3.42
|
|
Equity-based compensation
|
|
|
|
||||
Pre-tax equity-based compensation, excluding amounts included in restructuring expense
|
$
|
6,296
|
|
|
$
|
8,379
|
|
|
Restricted Awards (In Thousands)
|
|
Weighted-Average Grant Date Fair Value
|
|||
Outstanding as of beginning of period
|
6,532
|
|
|
$
|
9.39
|
|
Granted
|
120
|
|
|
$
|
7.71
|
|
Vested
|
(228
|
)
|
|
$
|
15.87
|
|
Forfeited
|
(464
|
)
|
|
$
|
11.18
|
|
Outstanding as of end of period
|
5,960
|
|
|
$
|
8.97
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Foreign withholding tax
|
$
|
2,603
|
|
|
$
|
4,845
|
|
Federal income tax
|
1,346
|
|
|
1,272
|
|
||
State income tax
|
114
|
|
|
(207
|
)
|
||
Foreign income tax
|
7
|
|
|
335
|
|
||
Goodwill impairment
|
(4,563
|
)
|
|
—
|
|
||
Change in unrecognized tax benefits
|
77
|
|
|
73
|
|
||
Income tax (benefit) expense
|
$
|
(416
|
)
|
|
$
|
6,318
|
|
|
Three Months Ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Product
|
|
|
|
||||
Platform Solutions
|
$
|
64,535
|
|
|
$
|
71,037
|
|
Software and Services
|
21,636
|
|
|
19,902
|
|
||
Other
|
305
|
|
|
364
|
|
||
Revenues, net
|
86,476
|
|
|
91,303
|
|
||
Adjusted Operating Expenses (1)
|
67,844
|
|
|
82,890
|
|
||
Adjusted EBITDA (2)
|
18,632
|
|
|
8,413
|
|
||
Intellectual Property Licensing
|
|
|
|
||||
US Pay TV Providers
|
45,109
|
|
|
42,117
|
|
||
CE Manufacturers
|
8,334
|
|
|
8,618
|
|
||
New Media, International Pay TV Providers and Other
|
19,942
|
|
|
16,197
|
|
||
Revenues, net
|
73,385
|
|
|
66,932
|
|
||
Adjusted Operating Expenses (1)
|
22,120
|
|
|
21,807
|
|
||
Adjusted EBITDA (2)
|
51,265
|
|
|
45,125
|
|
||
Corporate
|
|
|
|
||||
Adjusted Operating Expenses (1)
|
11,691
|
|
|
16,097
|
|
||
Adjusted EBITDA (2)
|
(11,691
|
)
|
|
(16,097
|
)
|
||
Consolidated
|
|
|
|
||||
Total Revenues, net
|
159,861
|
|
|
158,235
|
|
||
Adjusted Operating Expenses (1)
|
101,655
|
|
|
120,794
|
|
||
Adjusted EBITDA (2)
|
58,206
|
|
|
37,441
|
|
||
Depreciation
|
4,968
|
|
|
5,364
|
|
||
Amortization of intangible assets
|
28,142
|
|
|
28,178
|
|
||
Restructuring and asset impairment charges
|
739
|
|
|
1,813
|
|
||
Goodwill impairment
|
171,572
|
|
|
—
|
|
||
Equity-based compensation
|
6,296
|
|
|
8,379
|
|
||
Merger, separation and transformation costs
|
4,026
|
|
|
1,132
|
|
||
Transition and integration costs
|
82
|
|
|
595
|
|
||
Operating loss
|
(157,619
|
)
|
|
(8,020
|
)
|
||
Interest expense
|
(17,049
|
)
|
|
(12,161
|
)
|
||
Interest income and other, net
|
187
|
|
|
1,775
|
|
||
Loss on interest rate swaps
|
(5,119
|
)
|
|
(1,721
|
)
|
||
Loss on debt extinguishment
|
—
|
|
|
(199
|
)
|
||
Loss before income taxes
|
$
|
(179,600
|
)
|
|
$
|
(20,326
|
)
|
(1)
|
Adjusted Operating Expenses are defined as operating expenses excluding Depreciation, Amortization of intangible assets, Restructuring and asset impairment charges, Goodwill impairment, Equity-based compensation, Merger, separation and transformation costs and Transition and integration costs.
|
(2)
|
Adjusted EBITDA is defined as operating loss excluding Depreciation, Amortization of intangible assets, Restructuring and asset impairment charges, Goodwill impairment, Equity-based compensation, Merger, separation and transformation costs and Transition and integration costs.
|
|
Three Months Ended March 31,
|
|
|
|
|
|||||||||
|
2020
|
|
2019
|
|
Change $
|
|
Change %
|
|||||||
Revenues, net:
|
|
|
|
|
|
|
|
|||||||
Licensing, services and software
|
$
|
157,238
|
|
|
$
|
156,161
|
|
|
$
|
1,077
|
|
|
1
|
%
|
Hardware
|
2,623
|
|
|
2,074
|
|
|
549
|
|
|
26
|
%
|
|||
Total Revenues, net
|
159,861
|
|
|
158,235
|
|
|
1,626
|
|
|
1
|
%
|
|||
Costs and expenses:
|
|
|
|
|
|
|
|
|||||||
Cost of licensing, services and software revenues, excluding depreciation and amortization of intangible assets
|
37,396
|
|
|
39,433
|
|
|
(2,037
|
)
|
|
(5
|
)%
|
|||
Cost of hardware revenues, excluding depreciation and amortization of intangible assets
|
5,022
|
|
|
4,093
|
|
|
929
|
|
|
23
|
%
|
|||
Research and development
|
33,744
|
|
|
41,381
|
|
|
(7,637
|
)
|
|
(18
|
)%
|
|||
Selling, general and administrative
|
35,897
|
|
|
45,993
|
|
|
(10,096
|
)
|
|
(22
|
)%
|
|||
Depreciation
|
4,968
|
|
|
5,364
|
|
|
(396
|
)
|
|
(7
|
)%
|
|||
Amortization of intangible assets
|
28,142
|
|
|
28,178
|
|
|
(36
|
)
|
|
—
|
%
|
|||
Restructuring and asset impairment charges
|
739
|
|
|
1,813
|
|
|
(1,074
|
)
|
|
(59
|
)%
|
|||
Goodwill impairment
|
171,572
|
|
|
—
|
|
|
171,572
|
|
|
N/a
|
|
|||
Total costs and expenses
|
317,480
|
|
|
166,255
|
|
|
151,225
|
|
|
91
|
%
|
|||
Operating loss
|
(157,619
|
)
|
|
(8,020
|
)
|
|
(149,599
|
)
|
|
1,865
|
%
|
|||
Interest expense
|
(17,049
|
)
|
|
(12,161
|
)
|
|
(4,888
|
)
|
|
40
|
%
|
|||
Interest income and other, net
|
187
|
|
|
1,775
|
|
|
(1,588
|
)
|
|
(89
|
)%
|
|||
Loss on interest rate swaps
|
(5,119
|
)
|
|
(1,721
|
)
|
|
(3,398
|
)
|
|
197
|
%
|
|||
Loss on debt extinguishment
|
—
|
|
|
(199
|
)
|
|
199
|
|
|
N/a
|
|
|||
Loss before income taxes
|
(179,600
|
)
|
|
(20,326
|
)
|
|
(159,274
|
)
|
|
784
|
%
|
|||
Income tax (benefit) expense
|
(416
|
)
|
|
6,318
|
|
|
(6,734
|
)
|
|
(107
|
)%
|
|||
Net loss
|
$
|
(179,184
|
)
|
|
$
|
(26,644
|
)
|
|
$
|
(152,540
|
)
|
|
573
|
%
|
|
Three Months Ended March 31,
|
|
|
|
|
|||||||||
|
2020
|
|
2019
|
|
Change $
|
|
Change %
|
|||||||
Platform Solutions
|
$
|
64,535
|
|
|
$
|
71,037
|
|
|
$
|
(6,502
|
)
|
|
(9
|
)%
|
Software and Services
|
21,636
|
|
|
19,902
|
|
|
1,734
|
|
|
9
|
%
|
|||
Other
|
305
|
|
|
364
|
|
|
(59
|
)
|
|
(16
|
)%
|
|||
Product Revenues
|
86,476
|
|
|
91,303
|
|
|
(4,827
|
)
|
|
(5
|
)%
|
|||
Adjusted Operating Expenses
|
67,844
|
|
|
82,890
|
|
|
(15,046
|
)
|
|
(18
|
)%
|
|||
Adjusted EBITDA
|
$
|
18,632
|
|
|
$
|
8,413
|
|
|
$
|
10,219
|
|
|
121
|
%
|
Adjusted EBITDA Margin
|
21.5
|
%
|
|
9.2
|
%
|
|
|
|
|
|
Three Months Ended March 31,
|
|
|
|
|
|||||||||
|
2020
|
|
2019
|
|
Change $
|
|
Change %
|
|||||||
US Pay TV Providers
|
$
|
45,109
|
|
|
$
|
42,117
|
|
|
$
|
2,992
|
|
|
7
|
%
|
CE Manufacturers
|
8,334
|
|
|
8,618
|
|
|
(284
|
)
|
|
(3
|
)%
|
|||
New Media, International Pay TV Providers and Other
|
19,942
|
|
|
16,197
|
|
|
3,745
|
|
|
23
|
%
|
|||
Intellectual Property Licensing Revenues
|
73,385
|
|
|
66,932
|
|
|
6,453
|
|
|
10
|
%
|
|||
Adjusted Operating Expenses
|
22,120
|
|
|
21,807
|
|
|
313
|
|
|
1
|
%
|
|||
Adjusted EBITDA
|
$
|
51,265
|
|
|
$
|
45,125
|
|
|
$
|
6,140
|
|
|
14
|
%
|
Adjusted EBITDA Margin
|
69.9
|
%
|
|
67.4
|
%
|
|
|
|
|
|
Three Months Ended March 31,
|
|
|
|
|
|||||||||
|
2020
|
|
2019
|
|
Change $
|
|
Change %
|
|||||||
Adjusted Operating Expenses
|
$
|
11,691
|
|
|
$
|
16,097
|
|
|
$
|
(4,406
|
)
|
|
(27
|
)%
|
|
Three Months Ended March 31,
|
|
|
|
|
|||||||||
|
2020
|
|
2019
|
|
Change $
|
|
Change %
|
|||||||
Net cash (used in) provided by operating activities - Continuing operations
|
$
|
(20,296
|
)
|
|
$
|
4,325
|
|
|
$
|
(24,621
|
)
|
|
(569
|
)%
|
Net cash provided by investing activities
|
48,627
|
|
|
10,599
|
|
|
38,028
|
|
|
359
|
%
|
|||
Net cash used in financing activities
|
(292,192
|
)
|
|
(63,577
|
)
|
|
(228,615
|
)
|
|
360
|
%
|
|||
Net cash used in operating activities - Discontinued operations
|
(406
|
)
|
|
—
|
|
|
(406
|
)
|
|
N/a
|
|
|||
Effect of exchange rate changes on cash and cash equivalents
|
(933
|
)
|
|
(120
|
)
|
|
(813
|
)
|
|
678
|
%
|
|||
Net decrease in cash and cash equivalents
|
$
|
(265,200
|
)
|
|
$
|
(48,773
|
)
|
|
$
|
(216,427
|
)
|
|
444
|
%
|
|
March 31, 2020
|
|
December 31, 2019
|
||||||||||||
|
Outstanding Principal
|
|
Carrying Amount
|
|
Outstanding Principal
|
|
Carrying Amount
|
||||||||
2020 Convertible Notes
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
295,000
|
|
|
$
|
292,699
|
|
2021 Convertible Notes
|
48
|
|
|
48
|
|
|
48
|
|
|
48
|
|
||||
2019 Term Loan Facility
|
713,210
|
|
|
692,269
|
|
|
715,000
|
|
|
692,792
|
|
||||
Total
|
$
|
713,258
|
|
|
$
|
692,317
|
|
|
$
|
1,010,048
|
|
|
$
|
985,539
|
|
•
|
significant deterioration in general economic, industry or market conditions;
|
•
|
significant adverse development in cost factors;
|
•
|
significant deterioration in actual or expected financial performance or operating results;
|
•
|
significant adverse changes in legal factors or in the business climate, including adverse regulatory actions or assessments; and
|
•
|
significant sustained decrease in share price.
|
Period
|
|
Total Number of Shares Purchased (1)
|
|
Average Price Paid Per Share (1)
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
|
|
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
|
||||||||
January 2020
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
150,000
|
|
||
February 2020
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
150,000
|
|
||
March 2020
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
150,000
|
|
||
Total
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
|
(1)
|
Excludes shares withheld to satisfy minimum statutory tax withholding requirements in connection with the net share settlement of restricted awards on vesting. During the three months ended March 31, 2020, we withheld 0.1 million shares of common stock to satisfy $0.6 million of required withholding taxes.
|
(2)
|
On February 14, 2017, TiVo Corporation's Board of Directors approved an increase to its common stock repurchase program authorization to $150.0 million. The February 2017 authorization includes amounts which were outstanding under previously authorized share repurchase programs. The February 2017 authorization is subject to restrictions included in the Xperi Merger Agreement, and we do not intend to make purchases under the February 2017 authorization during the pendency thereof.
|
|
|
|
|
Incorporated by Reference
|
|
|
||||
Exhibit Number
|
|
Exhibit Description
|
|
Company Form+
|
|
Filing
Date
|
|
Exhibit
Number
|
|
Filed Herewith
|
2.1
|
|
|
8-K
|
|
2/3/2020
|
|
2.1
|
|
|
|
3.1
|
|
|
8-K
|
|
9/8/2016
|
|
3.1
|
|
|
|
3.2
|
|
|
8-K
|
|
12/24/2019
|
|
3.1
|
|
|
|
3.3
|
|
|
8-K
|
|
5/30/2019
|
|
3.1
|
|
|
|
10.1
|
|
|
8-K
|
|
1/7/2020
|
|
10.1
|
|
|
|
31.01
|
|
|
|
|
|
|
|
|
X
|
|
31.02
|
|
|
|
|
|
|
|
|
X
|
|
32.01
|
|
|
|
|
|
|
|
|
*
|
|
32.02
|
|
|
|
|
|
|
|
|
*
|
|
101.CAL
|
|
Inline XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
|
|
|
X
|
101.DEF
|
|
Inline XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
|
|
|
X
|
101.LAB
|
|
Inline XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
|
|
|
X
|
101.PRE
|
|
Inline XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
|
|
|
X
|
101.SCH
|
|
Inline XBRL Taxonomy Extension Schema Document
|
|
|
|
|
|
|
|
X
|
104
|
|
Cover Page Interactive Data File
|
|
|
|
|
|
|
|
**
|
*
|
Furnished herewith.
|
**
|
Included in Interactive Data File covered by Exhibit 101.
|
TIVO CORPORATION
|
|
|
Authorized Officer:
|
|
|
Date:
|
By:
|
/s/ David Shull
|
May 6, 2020
|
|
David Shull
|
|
|
President and Chief Executive Officer
|
|
|
|
Principal Financial and Accounting Officer:
|
|
|
Date:
|
By:
|
/s/ Wesley Gutierrez
|
May 6, 2020
|
|
Wesley Gutierrez
|
|
|
Chief Financial Officer
|
1 Year TiVo Chart |
1 Month TiVo Chart |
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