Company: IDCC
Filing Date: 2025-02-06
Form Type: 10-K
Source: 0001405495-25-000011
Chunk: 108

Company: InterDigital, Inc.
Filing Date: 2025-02-06
Form: 10-K
Item: Item 7
Chunk 108
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 the Notes to the Consolidated Financial Statements included in Part II, Item 8 of this Form 10-K for details of our defined benefit plan obligations.  Estimated future benefit payments included above are through 2030.

As discussed above 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 these contractual obligations discussed below in both the short-term over the next twelve month, and the long-term beyond twelve months.

As of December 31, 2024, we have a debt obligation of $17.0 million related to the Technicolor Patent Acquisition. Additionally, we are subject to a revenue-sharing arrangement with Technicolor resulting from the Technicolor Acquisitions. There is no liability associated with the revenue-share agreement at December 31, 2024, as there are no minimum or maximum payments under the revenue-sharing arrangement, and, except in certain circumstances, the arrangement continues through December 31, 2038. Refer to Note 10, "Obligations," within the Notes to the Consolidated Financial Statements included in Part II, Item 8 of this Form 10-K for further information.  Due to the uncertainty regarding the timing and amount of future payments related to these items, the amounts are excluded from the contractual obligations table above.

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RESULTS OF OPERATIONS

2024 Compared with 2023

Revenues

The following table compares 2024 revenues to 2023 revenues (in thousands):

Year Ended December 31, 20242023Increase/(Decrease)Recurring revenues:Smartphone$316,899 $347,124 $(30,225)(9)%CE, IoT/Auto89,252 59,858 29,394 49 %Other2,296 1,410 886 63 %Total recurring revenues408,447 408,392 55 — %Catch-up revenues (a)460,069 141,196 318,873 226 %Total revenues$868,516 $549,588 $318,928 58 %

(a)    Catch-up revenues are comprised of past patent royalties and revenues from static fixed-fee agreements.

Total revenues of $868.5 million increased 58% from $549.6 million in 2023 primarily due to catch-up revenues from new agreements signed in 2024, including the Samsung TV and OPPO agreements, as well as revenue recognized on the