InterDigital Files Q3 2024 10-Q Report
Ticker: IDCC · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 1405495
Sentiment: neutral
Topics: 10-Q, financials, patent-licensing
TL;DR
IDCC Q3 10-Q filed. Financials and ops update for 9 months ending Sep 30, 2024.
AI Summary
InterDigital, Inc. filed its 10-Q report for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year. Key financial data and business operations for this period are detailed within the report.
Why It Matters
This filing provides investors with an update on InterDigital's financial performance and operational status for the third quarter of 2024, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided header information.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-10-31 — Filing Date (Shows when the report was officially submitted to the SEC.)
Key Players & Entities
- InterDigital, Inc. (company) — Filer of the 10-Q report
- 2024-09-30 (date) — End of the reporting period
- 2024-10-31 (date) — Filing date
FAQ
What is the primary business of InterDigital, Inc. as indicated by its SIC code?
InterDigital, Inc.'s Standard Industrial Classification (SIC) code is 6794, which corresponds to 'PATENT OWNERS & LESSORS'.
What is the fiscal year end for InterDigital, Inc.?
InterDigital, Inc.'s fiscal year ends on December 31st (1231).
What is the SEC file number for InterDigital, Inc.?
The SEC file number for InterDigital, Inc. is 001-33579.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
What is the business address of InterDigital, Inc.?
The business address for InterDigital, Inc. is 200 Bellevue Parkway, Suite 300, Wilmington, DE 19809-3727.
Filing Stats: 4,862 words · 19 min read · ~16 pages · Grade level 17.8 · Accepted 2024-10-31 08:36:32
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share IDCC Nasdaq Stock Market LLC
Filing Documents
- idcc-20240930.htm (10-Q) — 1306KB
- idcc-q393024ex311.htm (EX-31.1) — 11KB
- idccq393024ex312.htm (EX-31.2) — 11KB
- idcc-q393024ex321.htm (EX-32.1) — 6KB
- idcc-q393024ex322.htm (EX-32.2) — 6KB
- 0001405495-24-000117.txt ( ) — 6039KB
- idcc-20240930.xsd (EX-101.SCH) — 38KB
- idcc-20240930_cal.xml (EX-101.CAL) — 71KB
- idcc-20240930_def.xml (EX-101.DEF) — 126KB
- idcc-20240930_lab.xml (EX-101.LAB) — 497KB
- idcc-20240930_pre.xml (EX-101.PRE) — 329KB
- idcc-20240930_htm.xml (XML) — 866KB
— Financial Information
Part I — Financial Information: 3
Financial Statements (unaudited)
Item 1 Financial Statements (unaudited): 3 Condensed Consolidated Balance Sheets — September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income — Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income — Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Shareholders' Equity — Three and Nine Months Ended Se ptember 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows — Nine Months Ended September 30, 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 34
Mine Safety Disclosures
Item 4 Mine Safety Disclosures 35
Other Information
Item 5 Other Information 35
SIGNATURES
SIGNATURES 36 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) SEPTEMBER 30, 2024 DECEMBER 31, 2023 Assets Current assets: Cash and cash equivalents $ 401,090 $ 437,076 Short-term investments 412,120 569,280 Accounts receivable 212,420 117,292 Prepaid and other current assets 128,106 43,976 Total current assets 1,153,736 1,167,624 Property and equipment, net 10,872 11,566 Patents, net 299,567 313,001 Deferred tax assets 110,739 128,967 Other non-current assets, net 150,436 149,656 Total assets $ 1,725,350 $ 1,770,814 Liabilities and Shareholders' equity Current liabilities: Current portion of long-term debt $ 454,250 $ 578,752 Accounts payable 8,015 7,846 Accrued compensation and related expenses 38,966 32,665 Deferred revenue 156,885 153,597 Dividends payable 11,366 10,226 Other accrued expenses 42,289 98,042 Total current liabilities 711,771 881,128 Long-term debt 18,302 29,019 Long-term deferred revenue 216,665 223,866 Other long-term liabilities 56,075 55,252 Total liabilities 1,002,813 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, 70,137 and 69,507 shares issued and 25,242 and 25,580 shares outstanding 701 694 Additional paid-in capital 794,644 742,981 Retained earnings 1,654,774 1,462,070 Accumulated other comprehensive gain (loss) 134 ( 647 ) Treasury stock, 44,895 and 43,927 shares of common stock held at cost ( 1,727,716 ) ( 1,623,549 ) Total shareholders' equity 722,537 581,549 Total liabilities and shareholders' equity $ 1,725,350 $ 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)