The following is a summary of the InterDigital, Inc. (IDCC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• InterDigital forecasted 2024 annual revenue between $620 million and $670 million.

• Q1 2024 revenue stands at $264 million, a 30% year-over-year increase, exceeding upper-end guidance.

• All-time high Q1 2024 total revenue from CE and IoT at $183 million, driven by new licensing agreements.

• Earnings from operations stood at $51 million and free cash flow at $41 million for Q1.

• Since 2011, InterDigital returned about $1.8 billion to shareholders via share buybacks and dividends.

Business Progress:

• They signed seven new license agreements in Q1 2024, including a landmark contract with Samsung TV.

• Significant progress in CE and IT sectors due to new agreements in the first quarter.

• German court issued injunctions against Lenovo and OPPO for 4G and 5G copyright infringements.

• The Indian court ordered OPPO to pay royalties and fined them for delaying negotiations.

• The company ranks among the top 25 for new patent applications globally, showcasing its innovative strength.

• InterDigital's research team demonstrated AI leadership at the Mobile World Congress in Barcelona.

• Future growth areas identified in areas such as cloud-based video services.

More details: InterDigital IR

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