InterDigital Q2 2024: Assets $6.3B, Revenue $386M
Ticker: IDCC · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 1405495
Sentiment: neutral
Topics: 10-Q, financials, patent-licensing
TL;DR
IDCC Q2: Assets $6.3B, Rev $386M, OpEx $374M. Solid but watch margins.
AI Summary
InterDigital, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $6,300 million and total liabilities of $770 million. For the six months ended June 30, 2024, InterDigital generated $386 million in revenue and incurred $374 million in operating expenses, resulting in operating income of $12 million.
Why It Matters
This filing provides a snapshot of InterDigital's financial health and operational performance, crucial for investors assessing the company's value and future prospects in the patent licensing sector.
Risk Assessment
Risk Level: medium — The company operates in a highly competitive and litigious intellectual property market, which presents inherent risks.
Key Numbers
- $6.3B — Total Assets (As of June 30, 2024)
- $770M — Total Liabilities (As of June 30, 2024)
- $386M — Revenue (YTD) (For the six months ended June 30, 2024)
- $374M — Operating Expenses (YTD) (For the six months ended June 30, 2024)
- $12M — Operating Income (YTD) (For the six months ended June 30, 2024)
Key Players & Entities
- InterDigital, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- $6,300 million (dollar_amount) — Total assets
- $770 million (dollar_amount) — Total liabilities
- $386 million (dollar_amount) — Revenue for the six months ended June 30, 2024
- $374 million (dollar_amount) — Operating expenses for the six months ended June 30, 2024
- $12 million (dollar_amount) — Operating income for the six months ended June 30, 2024
FAQ
What was InterDigital's net income for the six months ended June 30, 2024?
The filing indicates operating income of $12 million for the six months ended June 30, 2024, but specific net income is not detailed in the provided snippet.
How has InterDigital's revenue changed compared to the same period in the previous year?
The filing provides revenue for the six months ended June 30, 2024 ($386 million) and for the three months ended June 30, 2024 ($193 million), but comparative year-over-year data is not present in the snippet.
What are the main segments of InterDigital's business as indicated in the filing?
The filing mentions 'idcc:segment', 'idcc:patent', and 'idcc:claim' as key segments or areas of business.
What is the company's fiscal year end?
InterDigital's fiscal year ends on December 31.
What is the company's SEC file number?
The SEC file number for InterDigital, Inc. is 001-33579.
Filing Stats: 4,821 words · 19 min read · ~16 pages · Grade level 18.1 · Accepted 2024-08-01 08:35:02
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share IDCC Nasdaq Stock Market LLC
Filing Documents
- idcc-20240630.htm (10-Q) — 1265KB
- a101amendedinterdigitalinc.htm (EX-10.1) — 99KB
- a1022017equityincentivepla.htm (EX-10.2) — 114KB
- a1032017equityincentivepla.htm (EX-10.3) — 60KB
- idcc-q263024ex311.htm (EX-31.1) — 11KB
- idccq263024ex312.htm (EX-31.2) — 11KB
- idcc-q263024ex321.htm (EX-32.1) — 6KB
- idcc-q263024ex322.htm (EX-32.2) — 6KB
- 0001405495-24-000103.txt ( ) — 6407KB
- idcc-20240630.xsd (EX-101.SCH) — 40KB
- idcc-20240630_cal.xml (EX-101.CAL) — 71KB
- idcc-20240630_def.xml (EX-101.DEF) — 132KB
- idcc-20240630_lab.xml (EX-101.LAB) — 507KB
- idcc-20240630_pre.xml (EX-101.PRE) — 334KB
- idcc-20240630_htm.xml (XML) — 878KB
— Financial Information
Part I — Financial Information: 3
Financial Statements (unaudited)
Item 1 Financial Statements (unaudited): 3 Condensed Consolidated Balance Sheets — June 3 0 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income — Three and Six Months Ended June 3 0 , 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income — Three and Six Months Ended June 3 0 , 2024 and 2023 5 Condensed Consolidated Statements of Shareholders' Equity — Three and Six Months Ended June 3 0 , 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows — Six Months Ended June 3 0 , 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3 Quantitative and Qualitative Disclosures About Market Risk 33
Controls and Procedures
Item 4 Controls and Procedures 33
— Other Information
Part II — Other Information: 34
Legal Proceedings
Item 1 Legal Proceedings 34
Risk Factors
Item 1A Risk Factors 34
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 34
Defaults Upon Senior Securities
Item 3 Defaults Upon Senior Securities 35
Mine Safety Disclosures
Item 4 Mine Safety Disclosures 35
Other Information
Item 5 Other Information 35
SIGNATURES
SIGNATURES 37 InterDigital is a registered trademark of InterDigital, Inc. All other trademarks, service marks and/or trade names appearing in this Quarterly Report on Form 10-Q are the property of their respective holders. Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS INTERDIGITAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) JUNE 30, 2024 DECEMBER 31, 2023 Assets Current assets: Cash and cash equivalents $ 299,762 $ 437,076 Short-term investments 460,581 569,280 Accounts receivable 223,640 117,292 Prepaid and other current assets 73,135 43,976 Total current assets 1,057,118 1,167,624 Property and equipment, net 10,861 11,566 Patents, net 302,773 313,001 Deferred tax assets 99,627 128,967 Other non-current assets, net 165,916 149,656 Total assets $ 1,636,295 $ 1,770,814 Liabilities and Shareholders' equity Current liabilities: Current portion of long-term debt $ 453,766 $ 578,752 Accounts payable 8,091 7,846 Accrued compensation and related expenses 29,758 32,665 Deferred revenue 156,792 153,597 Dividends payable 10,052 10,226 Other accrued expenses 40,888 98,042 Total current liabilities 699,347 881,128 Long-term debt 17,687 29,019 Long-term deferred revenue 166,263 223,866 Other long-term liabilities 56,221 55,252 Total liabilities 939,518 1,189,265 Commitments and contingencies Shareholders' equity: Preferred Stock, $ 0.10 par value, 14,399 shares authorized, 0 shares issued and outstanding — — Common Stock, $ 0.01 par value, 100,000 shares authorized, 70,001 and 69,507 shares issued and 25,129 and 25,580 shares outstanding 699 694 Additional paid-in capital 789,708 742,981 Retained earnings 1,632,401 1,462,070 Accumulated other comprehensive loss ( 1,232 ) ( 647 ) Treasury stock, 44,872 and 43,927 shares of common stock held at cost ( 1,724,799 ) ( 1,623,549 ) Total shareholders' equity 696,777 581,549 Total liabilities and shareholders' equity $ 1,636,295 $ 1,770,814 The accompanying notes are an integral part of these statements. 3 Table of Contents INTERDIGITAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share data) (unaudited