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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