$IDCC
InterDigital, Inc.

2024 Q2 Form 10-Q Financial Statement

#000140549524000072 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $223.5M $263.5M $202.4M
YoY Change 119.99% 30.23% 99.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $39.44M $110.4M $33.68M
YoY Change 39.19% 227.85% 209.47%
% of Gross Profit
Research & Development $50.15M $49.38M $49.43M
YoY Change 0.54% -0.11% 180.66%
% of Gross Profit
Depreciation & Amortization $17.38M $17.24M $19.53M
YoY Change -11.55% -11.71% 1.27%
% of Gross Profit
Operating Expenses $89.59M $159.8M $83.11M
YoY Change 14.54% 92.28% 191.66%
Operating Profit $133.9M $103.7M $119.3M
YoY Change 472.84% -13.02% 295.1%
Interest Expense -$1.358M $11.92M $12.09M
YoY Change -111.19% -1.37% 119.17%
% of Operating Profit -1.01% 11.49% 10.13%
Other Income/Expense, Net $11.68M $9.247M $13.19M
YoY Change -18.8% -29.9% -1186.57%
Pretax Income $134.1M $101.1M $120.4M
YoY Change 423.4% -16.04% 408.62%
Income Tax $24.44M $19.41M $16.85M
% Of Pretax Income 18.23% 19.21% 13.99%
Net Earnings $109.7M $81.65M $105.3M
YoY Change 403.44% -22.43% 484.97%
Net Earnings / Revenue 49.07% 30.98% 52.01%
Basic Earnings Per Share $4.35 $3.20 $3.66
Diluted Earnings Per Share $3.93 $2.88 $3.58
COMMON SHARES
Basic Shares Outstanding 25.24M shares 25.49M shares 29.67M shares
Diluted Shares Outstanding 27.91M shares 28.34M shares 29.37M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $760.3M $984.6M $950.7M
YoY Change -9.56% 3.57% 5.72%
Cash & Equivalents $299.8M $440.2M $430.6M
Short-Term Investments $460.6M $544.4M $520.1M
Other Short-Term Assets $6.591M $9.473M $7.806M
YoY Change -40.99% 21.36% 66.55%
Inventory
Prepaid Expenses $35.78M $32.79M $13.45M
Receivables $223.6M $145.6M $144.0M
Other Receivables $21.54M $0.00 $66.85M
Total Short-Term Assets $1.057B $1.215B $1.196B
YoY Change -11.33% 1.59% 19.5%
LONG-TERM ASSETS
Property, Plant & Equipment $10.86M $11.08M $11.45M
YoY Change -7.04% -3.15% -7.06%
Goodwill $22.42M $22.42M $22.42M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $35.15M $33.48M $19.72M
YoY Change 79.51% 69.83% -7.35%
Other Assets $165.9M $156.1M $114.7M
YoY Change 32.65% 36.0% 10.11%
Total Long-Term Assets $579.2M $591.6M $552.1M
YoY Change 1.96% 7.14% -7.17%
TOTAL ASSETS
Total Short-Term Assets $1.057B $1.215B $1.196B
Total Long-Term Assets $579.2M $591.6M $552.1M
Total Assets $1.636B $1.807B $1.749B
YoY Change -7.04% 3.34% 9.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.091M $168.5M $8.464M
YoY Change -2.67% 1890.6% 40.76%
Accrued Expenses $40.89M $122.2M $57.66M
YoY Change -62.25% 111.86% 8.45%
Deferred Revenue $156.8M $156.0M $178.8M
YoY Change -9.19% -12.78% -25.06%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $453.8M $579.4M
YoY Change 261.2%
Total Short-Term Liabilities $699.3M $903.8M $254.4M
YoY Change 56.63% 255.28% -17.57%
LONG-TERM LIABILITIES
Long-Term Debt $17.69M $28.03M $607.9M
YoY Change -96.35% -95.39% 43.34%
Other Long-Term Liabilities $56.22M $56.93M $55.89M
YoY Change -1.05% 1.85% 10.07%
Total Long-Term Liabilities $73.91M $84.96M $663.8M
YoY Change -86.33% -87.2% 39.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $699.3M $903.8M $254.4M
Total Long-Term Liabilities $73.91M $84.96M $663.8M
Total Liabilities $939.5M $1.183B $1.123B
YoY Change -18.99% 5.29% 34.46%
SHAREHOLDERS EQUITY
Retained Earnings $1.632B $1.533B $1.384B
YoY Change 16.9% 10.76% -4.41%
Common Stock $699.0K $696.0K $693.0K
YoY Change 0.87% 0.43% -3.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.484B
YoY Change 5.28%
Treasury Stock Shares
Shareholders Equity $696.8M $624.3M $619.7M
YoY Change
Total Liabilities & Shareholders Equity $1.636B $1.807B $1.749B
YoY Change -7.04% 3.34% 9.56%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $109.7M $81.65M $105.3M
YoY Change 403.44% -22.43% 484.97%
Depreciation, Depletion And Amortization $17.38M $17.24M $19.53M
YoY Change -11.55% -11.71% 1.27%
Cash From Operating Activities -$48.91M $50.77M -$27.85M
YoY Change 7.64% -282.3% 54.97%
INVESTING ACTIVITIES
Capital Expenditures $13.18M $444.0K $1.209M
YoY Change 1.11% -63.28% 258.75%
Acquisitions
YoY Change
Other Investing Activities $93.90M $26.19M -$5.982M
YoY Change -334.49% -537.85% -105.08%
Cash From Investing Activities $80.72M $16.78M -$14.46M
YoY Change -252.07% -215.99% -113.44%
FINANCING ACTIVITIES
Cash Dividend Paid $10.23M $10.38M
YoY Change -1.52% -3.32%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.590M $0.00
YoY Change
Cash From Financing Activities -184.0M -$49.32M -$218.1M
YoY Change 245.13% -77.39% 1572.69%
NET CHANGE
Cash From Operating Activities -48.91M $50.77M -$27.85M
Cash From Investing Activities 80.72M $16.78M -$14.46M
Cash From Financing Activities -184.0M -$49.32M -$218.1M
Net Change In Cash -152.2M $18.23M -$260.5M
YoY Change 0.24% -107.0% -440.06%
FREE CASH FLOW
Cash From Operating Activities -$48.91M $50.77M -$27.85M
Capital Expenditures $13.18M $444.0K $1.209M
Free Cash Flow -$62.09M $50.33M -$29.06M
YoY Change 6.18% -273.18% 58.73%

Facts In Submission

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CY2024Q1 us-gaap Number Of Reportable Segments
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CY2024Q1 us-gaap Use Of Estimates
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<div style="margin-bottom:9pt;margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></div>
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
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CY2024Q1 us-gaap Income Taxes Paid
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CY2023Q4 us-gaap Accrued Liabilities Current
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98042000 usd
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
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CY2024Q1 us-gaap Other Liabilities Noncurrent
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55252000 usd
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5900000 shares
CY2019Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
4900000 shares
CY2019Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
109.43
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
109.43
CY2024Q1 idcc Payment To Cppib
PaymentToCPPIB
1600000 usd
CY2023Q1 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
138700000 usd
CY2023Q2 idcc Litigation Settlement Attorney Fees
LitigationSettlementAttorneyFees
46200000 usd
CY2023Q2 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
184900000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.192
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.140
CY2023Q1 idcc Effective Income Tax Rate Reconciliation Excluding Valuation Allowance Percent
EffectiveIncomeTaxRateReconciliationExcludingValuationAllowancePercent
0.138
CY2024Q1 idcc Discrete Tax Expense Benefit
DiscreteTaxExpenseBenefit
-1700000 usd
CY2023Q1 idcc Discrete Tax Expense Benefit
DiscreteTaxExpenseBenefit
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CY2024Q1 us-gaap Net Income Loss
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81652000 usd
CY2023Q1 us-gaap Net Income Loss
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105259000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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25510000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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28780000 shares
CY2024Q1 idcc Incremental Common Shares Attributable To Dilutive Effect Of Stock Options Rs Us And Warrants
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889000 shares
CY2023Q1 idcc Incremental Common Shares Attributable To Dilutive Effect Of Stock Options Rs Us And Warrants
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592000 shares
CY2024Q1 idcc Incremental Common Shares Attributable To Dilutive Effect Of Convertible Securities
IncrementalCommonSharesAttributableToDilutiveEffectOfConvertibleSecurities
1942000 shares
CY2023Q1 idcc Incremental Common Shares Attributable To Dilutive Effect Of Convertible Securities
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0 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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28341000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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29372000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
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3.20
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.66
CY2024Q1 idcc Dilutive Stock Options Rs Us And Warrants Effect On Basic Earnings Per Share Per Share
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0.10
CY2023Q1 idcc Dilutive Stock Options Rs Us And Warrants Effect On Basic Earnings Per Share Per Share
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0.08
CY2024Q1 idcc Dilutive Convertible Securities Effect On Basic Earnings Per Share Per Share
DilutiveConvertibleSecuritiesEffectOnBasicEarningsPerSharePerShare
0.22
CY2023Q1 idcc Dilutive Convertible Securities Effect On Basic Earnings Per Share Per Share
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0
CY2024Q1 us-gaap Earnings Per Share Diluted
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2.88
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.58
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7488000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7908000 shares
CY2024Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
11778000 usd
CY2023Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
11680000 usd
CY2024Q1 idcc Other Income Expense
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CY2023Q1 idcc Other Income Expense
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CY2024Q1 us-gaap Other Nonoperating Income Expense
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9247000 usd
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13191000 usd
CY2024Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2400000 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
700000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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