Company: IDCC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001405495-25-000063
Chunk: 110

Company: InterDigital, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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$60,071 10%Catch-up revenue(a), included above$264,791 $324,274 $(59,483)(18)%

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

Total revenue of $675.8 million increased $60.1 million from first nine months 2024 primarily due to revenue from fifteen new patent license agreements signed in the last eighteen months, including the agreement signed with Honor in third quarter 2025 and the previously announced agreements with vivo Mobile, OPPO, Lenovo, and HP. Additionally, the Samsung arbitration ruling contributed to the increase. These increases were partially offset by catch-up revenue recognized in first nine months 2024 from the Samsung TV agreement, Lenovo UK ruling and arbitration agreement, and other new agreements signed during first nine months 2024.

In first nine months 2025 and 2024, 64% and 77% of our total revenue, respectively, was attributable to companies that individually accounted for 10% or more of our total revenue. In first nine months 2025 and 2024, the following companies accounted for 10% or more of our total revenue:

Nine Months Ended September 30, 20252024Customer A33%38%Customer G16%—%Customer B15%16%Customer E<10%23%

Operating Expenses 

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

Nine Months Ended September 30, 20252024Increase/(Decrease)Research and portfolio development$154,172 $147,851 $6,321 4%Licensing61,301 149,212 (87,911)(59)%General and administrative47,245 41,665 5,580 13%Total operating expenses$262,718 $338,728 $(76,010)(22)%

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Operating expenses decreased 22% to $262.7 million in first nine months 2025 from $338.7 million in first nine months 2024. The $76.0 million decrease in total operating expenses was primarily due to changes in the following items (in thousands):

 Increase/(Decrease)Revenue share$(71,081)Intellectual property enforcement(22,405)Depreciation and amortization5,317 Net litigation fee reimbursement3,877 Share-based compensation2,513