Company: IDCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001405495-25-000051
Chunk: 51

Company: InterDigital, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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$(47,116)(16)%

(a)    Catch-up revenue represents revenue associated with reporting periods prior to the execution of the license agreement.

Total revenue of $511.1 million increased $24.1 million from first half 2024 primarily due to revenue recognized from the Samsung arbitration decision and the first half 2025 agreements with vivo Mobile and HP. Additionally, eight other new patent license agreements signed in the last fifteen months contributed to the increase, including the previously announced OPPO agreement and the Lenovo arbitration agreement. This increase was partially offset by catch-up revenue related to the Samsung TV agreement and the Lenovo UK proceedings recognized in first half 2024.

In first half 2025 and 2024, 69% and 82% of our total revenue, respectively, was attributable to companies that individually accounted for 10% or more of our total revenue. In first half 2025 and 2024, the following companies accounted for 10% or more of our total revenue:

Six Months Ended June 30, 20252024Customer A36%43%Customer E20%—%Customer C13%14%Customer D<10%25%

Operating Expenses 

The following table summarizes the changes in operating expenses between first half 2025 and first half 2024 by category (in thousands):

Six Months Ended June 30, 20252024Increase/(Decrease)Research and portfolio development$101,104 $99,520 $1,584 2 %Licensing41,586 121,745 (80,159)(66)%General and administrative31,154 28,126 3,028 11 %Total operating expenses$173,844 $249,391 $(75,547)(30)%

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Operating expenses decreased 30% to $173.8 million in first half 2025 from $249.4 million in first half 2024. The $75.5 million decrease in total operating expenses was primarily due to changes in the following items (in thousands):

 Increase/(Decrease)Revenue share$(66,495)Intellectual property enforcement(18,865)Depreciation and amortization3,062 Performance-based compensation2,829 Net litigation fee reimbursement2,717 Other1,205 Total decrease in operating expenses$(75,547)

The $75.5 million decrease in operating expenses was driven by a $66.5 million decrease in revenue share costs primarily related to the Samsung TV