Company: IDCC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001405495-25-000063
Chunk: 88

Company: InterDigital, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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4,887)4,483$4504,9474,5669,513(4,947)4,566$4755,0004,6409,640(5,000)4,640$5005,0494,7069,755(5,049)4,706

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(a) Represents incremental shares issuable upon concurrent conversion of convertible notes, exercise of warrants and settlement of the hedge agreements.

27

RESULTS OF OPERATIONS

Third Quarter 2025 Compared to Third Quarter 2024 

Revenue

The following table compares third quarter 2025 revenue to third quarter 2024 revenue (in thousands):

Three Months Ended September 30, 20252024Increase/(Decrease)Smartphone$136,407 $87,426 $48,981 56%CE, IoT/Auto28,219 40,633 (12,414)(31)%Other56 620 (564)(91)%Total Revenue$164,682 $128,679 $36,003 28%Catch-up revenue(a), included above$17,678 $30,045 $(12,367)(41)%

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

Total revenue of $164.7 million increased $36.0 million from third quarter 2024 primarily due to revenue from nine new patent license agreements signed in the last twelve months, including the agreement signed with Honor in third quarter 2025 and the previously announced agreements with vivo Mobile and OPPO. Additionally, the Samsung arbitration decision contributed to the increase. These increases were partially offset by catch-up revenue recognized on new agreements and the resolution of litigation in third quarter 2024.

In third quarter 2025 and 2024, 54% and 83%, respectively, of our total revenue was attributable to licensees that individually accounted for 10% or more of our total revenue. In third quarter 2025 and 2024, the following licensees accounted for 10% or more of our total revenue:

Three Months Ended September 30, 20252024Customer A23%20%Customer B20%26%Customer C11%—%Customer D<10%13%Customer E<10%12%Customer F<10%12%

Operating Expenses

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