Paul will share with you some general observations regarding the quarter, and then Keith will give further details on our financial results and guidance. In addition to today's earnings release, there is an earnings presentation which you can access along with the webcast in the IR portion of our website. We have provided reconciliations of these non-GAAP measures to the most directly comparable GAAP measures in the earnings release, the earnings presentation, and on the investor relations section of our website. Our third quarter revenue of $87.3 million was in line with our expectations, and we remain confident in the strength of our business.
Importantly, our non-Pay TV recurring revenue was up 31% year over year for the third quarter. Let me first address the change to our revenue guidance we announced this morning. We have continued to make good progress on other significant deals in our pipeline, and we remain focused on getting the best economics we can over the long term. Our revised revenue guidance range reflects multiple opportunities that we are actively pursuing.
To the extent that they do not close in 2025, they become a strong catalyst to growth in 2026. The separation unleashed the opportunity for us to expand our pipeline and grow as an independent organization. We have continued to expand beyond Pay TV, which has been our core business historically, and into new growth opportunities in semiconductors, OTT, social media, and e-commerce. License agreements we have signed in these verticals are now driving growth in our non-Pay TV recurring revenue stream.
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