Company: IDCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001405495-25-000022
Chunk: 86

Company: InterDigital, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 86
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 cash operating expenses primarily due to lower revenue share and litigation costs recognized in first quarter 2025. The table below sets forth the significant items comprising our cash flows provided by operating activities during the three months ended March 31, 2025 and 2024 (in thousands):

Three Months Ended March 31, 20252024ChangeTotal Cash Receipts$46,830 $201,758 $(154,928)Cash Outflows:Cash operating expenses a(50,964)(133,178)82,214 Income taxes paid b(10,204)(9,335)(869)Total cash outflows(61,168)(142,513)81,345 Other working capital adjustments(5,651)(8,472)2,821 Cash flows (used in) provided by operating activities$(19,989)$50,773 $(70,762)

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(a) Cash operating expenses include operating expenses less depreciation and disposals of fixed assets, amortization of patents, and non-cash compensation. Amount includes revenue share costs of $2.6 million and $69.0 million in first quarter 2025 and 2024, respectively.

(b) Income taxes paid include foreign withholding taxes.

Cash flows from investing and financing activities

Net cash provided by investing activities for first quarter 2025 was $59.5 million, a $42.7 million change from $16.8 million in first quarter 2024. During first quarter 2025, we sold $86.2 million of short-term marketable securities, net of purchases, and capitalized $26.7 million of patent costs and property and equipment purchases. During first quarter 2024, we sold $24.6 million of short-term marketable securities, net of purchases, and capitalized $9.4 million of patent costs and property and equipment purchases.

21

Net cash used in financing activities for first quarter 2025 was $43.0 million, a change of $6.4 million from $49.3 million the first quarter 2024. This change was primarily attributable to a $23.5 million increase of taxes withheld on restricted stock unit vestings primarily due to the increased share price at vesting, partially offset by a $23.6 million decrease in share repurchases and $7.3 million of proceeds from the exercise of stock options.

Other

Our combined short-term and long-term deferred revenue balance as of March 31, 2025 was approximately $324