Company: IDCC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001405495-25-000063
Chunk: 81

Company: InterDigital, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 common stock. 

As of October 30, 2025, there was $147.9 million remaining under the share repurchase authorization, which we plan to utilize to periodically repurchase additional common shares. See Part II, Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds—Issuer Purchases of Equity Securities of this Quarterly Report on Form 10-Q.

Cash & Short-term Investments

As of September 30, 2025, we had $1.3 billion of cash, restricted cash, and short-term investments and approximately $1.6 billion of cash payments due under contracted fixed price agreements, which includes our conservative estimates of the minimum cash receipts that we expect to receive under the Lenovo arbitration.

91% of our third quarter 2025 revenue is from fixed-fee agreements. Such agreements often have prescribed payment schedules that are uneven and sometimes front-loaded, resulting in timing differences between when we collect the cash payments and recognize the related revenue.

22

The following table reconciles the timing differences between cash receipts and recognized revenue during the three and nine months ended September 30, 2025 and 2024, including the resulting operating cash flow (in thousands):

Three Months Ended September 30,Nine Months Ended September 30,Cash vs. Non-cash revenue:2025202420252024Fixed fee cash receipts (a)$492,020 $160,300 $676,739 $384,990 Other cash receipts (b)8,390 9,919 41,834 35,275 Change in deferred revenue(119,991)(50,495)(48,785)3,913 Change in receivables(228,066)(11,220)(27,661)95,128 Other12,329 20,175 33,658 96,408 Total Revenue$164,682 $128,679 $675,785 $615,714 Net cash provided by operating activities$395,930 $77,631 $481,059 $79,494 

(a)  Fixed fee cash receipts are comprised of cash receipts from Dynamic Fixed-Fee Agreement royalties, including the associated catch-up revenue.

(b) Other cash receipts are primarily comprised of cash receipts related to our variable patent royalty revenue and catch-up revenue.

When we collect payments on a front-loaded basis, we recognize a deferred revenue liability equal to the cash received and accounts receivable recorded which relate to revenue