Company: IDCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001405495-25-000051
Chunk: 77

Company: InterDigital, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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 our second 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.

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

Three Months Ended June 30,Six Months Ended June 30,Cash vs. Non-cash revenue:2025202420252024Fixed fee cash receipts (a)$162,140 $33,705 $184,719 $224,690 Other cash receipts (b)9,193 14,583 33,444 25,356 Change in deferred revenue32,456 26,866 71,206 54,408 Change in receivables84,439 78,011 200,405 106,348 Other12,368 70,328 21,329 76,233 Total Revenue$300,596 $223,493 $511,103 $487,035 Net cash provided by (used in) operating activities$105,118 $(48,910)$85,129 $1,863 

(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.

20

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 expected to be recognized in future periods. That liability is then reduced as we recognize revenue over the balance of the agreement. The following table shows the projected amortization of our current and long term deferred revenue as of June 30, 2025 (in thousands):

Deferred RevenueRemainder of 2025$107,702 2026141,117 202739,486 20281,141 20291,206 Thereafter1,270 Total Revenue$291,922 

Revenue

Second quarter 2025 revenue of $300.6 million includes $162.3 million of catch-up revenue, while second quarter 2024 revenue of $223.5 million includes $127.6 million of catch-up revenue. The $77.