Company: IDCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001405495-25-000051
Chunk: 49

Company: InterDigital, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 49
---
% or more of our total revenue. In second quarter 2025 and 2024, the following licensees accounted for 10% or more of our total revenue:

Three Months Ended June 30, 20252024Customer A52%11%Customer B15%—%Customer C11%15%Customer D<10%54%

Operating Expenses

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

Three Months Ended June 30, 20252024Increase/(Decrease)Research and portfolio development$53,674 $50,145 $3,529 7 %Licensing23,909 25,156 (1,247)(5)%General and administrative17,586 14,286 3,300 23 %Total Operating expenses$95,169 $89,587 $5,582 6 %

25

Operating expenses increased $5.6 million to $95.2 million in second quarter 2025 compared to $89.6 million in second quarter 2024. The $5.6 million increase in total operating expenses was primarily due to changes in the following items (in thousands):

 Increase/(Decrease)Performance-based compensation$4,084 Net litigation fee reimbursement3,200 Depreciation and amortization2,089 Intellectual property enforcement(6,582)Other2,791 Total increase in operating expenses$5,582 

The $5.6 million increase in operating expenses was driven by an increase in performance-based compensation due to higher accrual rates driven by licensing successes and a $2.1 million increase in depreciation and amortization due to non-cash patent acquisitions and investments in internal infrastructure. Additionally, the increase was due to a $3.2 million one-time contra expense for a net litigation fee reimbursement resulting from intellectual property enforcement successes received in second quarter 2024. These increases were partially offset by a $6.6 million decrease in intellectual property enforcement costs primarily due to our fourth quarter 2024 resolution of the OPPO and Lenovo proceedings, as well as decreased activity related to the Samsung arbitration.

Research and portfolio development expense: Research and portfolio development expense increased compared to second quarter 2024 primarily due to the increase in depreciation and amortization noted above, as well as the increase in performance-based compensation costs.

Licensing expense: Licensing expense was relatively flat compared to second quarter 2024,