Company: IDCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001405495-25-000022
Chunk: 85

Company: InterDigital, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 85
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 including the incurrence or issuance of debt and the refinancing or restructuring of existing debt. Based on our past performance and current expectations, we believe our available sources of funds, including cash, cash equivalents, short-term investments, and cash generated from our operations, will be sufficient to finance our operations, capital requirements, debt obligations, existing stock repurchase program, dividend program, and other contractual obligations discussed below in both the short-term over the next twelve months, and the long-term beyond twelve months.

20

Cash, cash equivalents, restricted cash, and short-term investments

As of March 31, 2025 and December 31, 2024, we had the following amounts of cash and cash equivalents, restricted cash, and short-term investments (in thousands):

March 31, 2025December 31, 2024Increase / (Decrease)Cash and cash equivalents$536,639 $527,360 $9,279 Restricted cash included within prepaid and other current assets11,476 24,187 (12,711)Short-term investments346,653 430,848 (84,195)Total cash, cash equivalents, restricted cash, and short-term investments$894,768 $982,395 $(87,627)

The net decrease in cash, cash equivalents, restricted cash, and short-term investments was attributable to cash used in financing activities of $43.0 million, cash used in investing activities of $26.7 million, excluding sales and purchases of short-term investments, and cash used in operating activities of $20.0 million. Refer to the sections below for further discussion of these items.

Cash flows (used in) provided by operating activities

Cash flows (used in) provided by operating activities in the first quarter 2025 and 2024 (in thousands) were as follows:

Three Months Ended March 31,20252024ChangeNet cash (used in) provided by operating activities$(19,989)$50,773 $(70,762)

Our cash flows (used in) provided by operating activities are principally derived from cash receipts from patent license agreements, offset by cash operating expenses and income tax payments. The $70.8 million change in net cash (used in) provided by operating activities was driven by lower cash receipts primarily due to large cash receipts in first quarter 2024 related to catch-up revenues from agreements signed in first quarter 2024 and due to timing of cash receipts under existing agreements. This decrease was partially offset by lower