Company: IDCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001405495-25-000022
Chunk: 66

Company: InterDigital, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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The amounts included in "Other income, net" in the condensed consolidated statements of income for the three months ended March 31, 2025 and 2024 were as follows (in thousands):Three Months Ended March 31,20252024Interest and investment income$9,264 $11,778 Other994 (2,531)Other income, net$10,258 $9,247 

18

Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

OVERVIEW

The following discussion should be read in conjunction with the unaudited, condensed consolidated financial statements and notes thereto contained in Part I, Item 1 of this Quarterly Report on Form 10-Q, in addition to our 2024 Form 10-K, other reports filed with the SEC and the Statement Pursuant to the Private Securities Litigation Reform Act of 1995 — Forward-Looking Statements below. 

Throughout the following discussion and elsewhere in this Form 10-Q, we refer to “catch-up revenues.” For variable and dynamic fixed-fee license agreements, “catch-up revenues” primarily represents revenue associated with reporting periods prior to the execution of the license agreement.

New Agreement

In March 2025, we signed a new multi-year, worldwide, non-exclusive, royalty bearing license agreement with vivo Mobile, a major Chinese smartphone vendor.  We now have seven of the ten largest smartphone vendors and almost 80% of the entire global smartphone market under license.

Subsequent Events

In April 2025, we signed a new multi-year license agreement with HP Inc. The agreement licenses HP personal computers to InterDigital’s Wi-Fi and video decoding technologies. No revenue related to this agreement was recognized in first quarter 2025.

Return of Capital to Shareholders

In February 2025, we announced an additional increase in the quarterly cash dividend by $0.15 per share to $0.60 per share, beginning with the quarterly dividend payable in second quarter 2025. During first quarter 2025, we returned $20.8 million to shareholders, including $15.6 million, or $0.60 per share, of cash dividends declared and $5.2 million through the repurchase of shares of common stock. 

As of April 30, 2025, there was $216.1 million remaining under the share repurchase authorization, which we plan to utilize to periodically repurchase additional common shares