InterDigital Issues Updated Guidance for Third Quarter 2022
October 03 2022 - 6:30AM
InterDigital, Inc. (NASDAQ: IDCC), a mobile and video technology
research and development company, today announced that it expects
third quarter 2022 total revenue to be between $112 million and
$115 million, up from its previous expectations of $96 million to
$100 million.
The updated guidance includes approximately $100 million of
recurring revenue and reflects continuing success in the core
smartphone licensing program as well as new licensing agreements
signed within our consumer electronics, automotive and IoT revenue
category.
The company’s recently announced license agreement with a major
technology company has no impact on third quarter 2022 revenue.
The company noted that its third quarter operating expenses are
now expected to be in the range of $88 - $90 million, including an
$11 - $13 million increase to the company’s performance-based
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.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
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 our
current beliefs, plans and expectations, including, without
limitation, our belief that we will continue to be able to execute
strongly on our business during the ongoing COVID-19 pandemic.
Words such as “believe,” “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “forecast,” “goal,” “could,” "would,"
"should," "if," "may," "might," "future," "target," "trend," "seek
to," "will continue," "predict," "likely," "in the event," and
variations of any such words or similar expressions are intended to
identify such forward-looking statements.
Forward-looking statements are made on the basis of management’s
current views and assumptions and are not guarantees of future
performance. Forward-looking statements are inherently subject to
risks and uncertainties that could cause actual results, and actual
events that occur, to differ materially from results contemplated
by the forward-looking statements. These risks and uncertainties
include, but are not limited to: (i) unanticipated delays,
difficulties or accelerations in the execution of patent license
agreements; (ii) our ability to leverage our strategic
relationships and secure new patent license agreements on
acceptable terms; (iii) our ability to enter into sales and/or
licensing partnering arrangements for certain of our patent assets;
(iv) our ability to enter into partnerships with leading inventors
and research organizations and identify and acquire technology and
patent portfolios that align with our roadmap; (v) our ability to
commercialize our technologies and enter into customer agreements;
(vi) the failure of the markets for our current or new technologies
and products to materialize to the extent or at the rate that we
expect; (vii) unexpected delays or difficulties related to the
development of our technologies and products; (viii) changes in our
interpretations of, and assumptions and calculations with respect
to the impact on us of, the 2017 Tax Cuts and Jobs Act and other
tax legislation; (ix) risks related to the potential impact of new
accounting standards on our financial position, results of
operations or cash flows; (x) failure to accurately forecast the
impact of our restructuring activities on our financial statements
and our business; (xi) the resolution of current legal proceedings,
including any awards or judgments relating to such proceedings,
additional legal or regulatory proceedings, changes in the
schedules or costs associated with legal proceedings or adverse
rulings in such proceedings; (xii) the timing and impact of
potential administrative and legislative matters; (xiii) changes or
inaccuracies in market projections; (xiv) our ability to obtain
liquidity though debt and equity financings; (xv) the potential
effects that the COVID-19 pandemic and/or general economic or other
conditions could have on our financial position, results of
operations and cash flows; and (xvi) changes in our business
strategy.
We undertake no duty to revise or update publicly any
forward-looking statement for any reason, except as otherwise
required by law.
InterDigital
Contact:Email: investor.relations@interdigital.com+1
(302) 300-1857
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