InterDigital Issues Guidance for Third Quarter 2021
September 15 2021 - 4:30PM
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.
For more information, visit: www.interdigital.com.
InterDigital
Contact:Email: investor.relations@interdigital.com +1
(302) 300-1857
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