Xperi is a software and technology licensing company that embeds its products into consumer electronics, connected cars, and pay-TV platforms. Xperi operates under three brands — TiVo, DTS, and HD Radio — and is transitioning from a legacy licensing business toward a media monetization platform. In pay-TV, Xperi licenses UX software (electronic program guides, DVR functionality, metadata, and content discovery) to cable, IPTV, and broadband TV operators globally, with revenue driven primarily by monthly per-subscriber fees. In consumer electronics, Xperi licenses DTS audio codec and post-processing technology to device manufacturers — including Samsung, LG, Sony, and others — for use in TVs, soundbars, smartphones, and gaming consoles. In connected cars, HD Radio is the FCC-approved digital terrestrial broadcast standard embedded in most new North American vehicles, while DTS AutoStage is a broader in-car infotainment platform that Xperi is building into a radio audience measurement and advertising business. Xperi's emerging growth business is TiVo OS, a smart TV operating system licensed to TV OEMs that lack their own platform; as TiVo OS accumulates active users, Xperi monetizes this audience through its TiVo One ad platform via programmatic video ads, home screen placements, subscription revenue shares, and audience data licensing. Licensing revenue comes through per-unit or per-subscriber fees and multi-year minimum guarantee contracts. Xperi's long-term strategy is to build a large monetizable endpoint footprint across smart TVs, IPTV set-top boxes, and connected cars, then layer advertising and data revenue on top.