InterDigital Issues Guidance for Third Quarter 2021

Conshohocken, Pennsylvania, UNITED STATES

WILMINGTON, Del., Sept. 15, 2021 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today provided guidance for third quarter 2021. 

The company expects third quarter 2021 total revenue to be between $119 million and $121 million, including approximately $89 million to $91 million of recurring revenue. The increase from second quarter 2021 is driven by both an expected $15 million of recurring revenue and $30 million of non-recurring revenue from a fixed price license agreement signed during third quarter 2021.

This revenue guidance does not include the potential impact of any new patent license, technology solutions or patent sale agreements that may be signed, or any arbitration or dispute resolutions that may occur, during the balance of third quarter 2021.

In addition, the company expects third quarter operating expenses to be in the range of $97 million to $105 million, driven by one-time expenses of approximately $18 million to $23 million associated with a previously announced restructuring and adjustments to compensation accruals.

About InterDigital®

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the company’s current expectations with respect to third quarter 2021 revenue. Words such as “expects,” “projects,” “forecasts,” “anticipates,” and variations of such words or similar expressions are intended to identify such forward-looking statements. 

Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors, including, but not limited to: (i) the outcome of discussions with the works council in France; (ii) the entry into additional patent license, patent sales or technology solutions agreements; (iii) the accuracy of market sales projections of the company’s licensees or our estimates of sales by our per-unit licensees; (iv) delays in payments from our licensees; (v) amounts of royalties payable following routine audits, if any, and the timely receipt of such amounts; (vi) the timing, expenses, and outcome of the company’s litigation and arbitration proceedings and the timely receipt of any related awards; (vii) new developments in the company’s litigation or arbitration proceedings; and (viii) the potential effects that the ongoing COVID-19 pandemic could have on our financial position, results of operations and cash flows. We undertake no duty to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise except as may be required by applicable law, regulation or other competent legal authority. 

InterDigital is a registered trademark of InterDigital, Inc.

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InterDigital Contact:
+1 (302) 300-1857