InterDigital, Inc. - IDCC STOCK NEWS

InterDigital, Inc. (NASDAQ: IDCC) has nominated Derek Aberle to its Board of Directors, bringing extensive experience in wireless technology and global patent licensing. Aberle, Co-founder and Executive Vice Chairman of XCOM Labs, previously held senior roles at Qualcomm, including President. His expertise in negotiating significant licensing deals is expected to enhance InterDigital's growth and strengthen existing relationships in the rapidly evolving technology landscape. Chairman S. Doug Hutcheson emphasized Aberle's alignment with InterDigital's innovative mission and outlook towards new opportunities.

InterDigital has released a report, in collaboration with ABI Research, highlighting the transformative potential of 5G technology. It predicts that 5G will generate $7 trillion in economic value by 2030, driven by innovations across consumer and enterprise applications. The report emphasizes the rapid adoption of 5G and its critical role in enhancing network capacity. It also discusses the importance of industry collaboration, particularly through the 3GPP, for advancing 5G capabilities. Future developments, such as 5G Advanced, promise to introduce features like AI and improvements in network efficiency.

InterDigital reported a strong financial performance for Q2 2022, with total revenue reaching $124.7 million, a 42% increase from $87.7 million in Q2 2021. The growth was primarily driven by new patent license agreements and record levels of revenue from consumer electronics, automotive, and IoT markets. Net income rose to $21.1 million or $0.69 per diluted share, compared to $1.6 million or $0.05 per diluted share in 2021. The company expects recurring revenue for Q3 2022 to be between $96 and $100 million.

InterDigital applauds the appointment of Xiaofei Wang as Chair of the AIML Topic Interest Group within the IEEE 802.11 working group. This group focuses on exploring artificial intelligence and machine learning applications for Wi-Fi technologies. His leadership will enhance InterDigital's contributions to WLAN standardization. The AIML TIG began its research in July 2022 and is set to conclude in March 2023. This recognition emphasizes Wang's significant research background in 802.11 standards development.

InterDigital, Inc. (NASDAQ:IDCC) will release its Q2 2022 financial results before market open on August 4, 2022. The company will host a conference call at 10:00 a.m. ET the same day to discuss its performance.

Participants can access the call via webcast or by telephone registration at InterDigital's website.

InterDigital, Inc. (NASDAQ:IDCC) has announced a multi-year, worldwide, non-exclusive, royalty-bearing licensing agreement with Zebra Technologies impacting its 4G, 5G, and WiFi technologies. This marks the 16th such agreement in the past 18 months, demonstrating InterDigital's strong licensing momentum. Over 80 companies, including major firms like Apple and Huawei, have licensed InterDigital’s patents, which have been integrated into approximately 800 million devices sold last year and over six billion devices over the past decade.

InterDigital, Inc. (NASDAQ:IDCC) announced that Ravikumar Pragada has received the IEEE Benjamin Franklin Key Award for his contributions to 5G technology. As a Senior Principal Engineer, Pragada's work in millimeter wave spectrum and cellular systems has been pivotal in advancing wireless connectivity. His leadership has driven innovations such as the EdgeHaul mmWave mesh-backhaul system, critical for achieving the high-speed requirements of 5G. This recognition emphasizes InterDigital's commitment to pioneering wireless technologies.

InterDigital, Inc. (NASDAQ: IDCC) has revised its second quarter 2022 revenue expectations to between $120 million and $124 million, an increase from the previous estimate of $114 million to $120 million. The updated guidance includes approximately $98 million to $100 million in recurring revenue, primarily from licensing agreements with major automakers like GM and Ford. Additionally, the company anticipates non-operating expenses of $18 million to $21 million, influenced by a one-time refinancing charge.

InterDigital, Inc. (NASDAQ: IDCC) announced the appointment of Dr. Rajesh Pankaj as the new Chief Technology Officer, effective July 5, 2022. Dr. Pankaj previously held a significant role at Qualcomm, overseeing research in various technologies, including 5G and AI. He holds extensive experience, having contributed to a large patent portfolio and led innovations such as software for Mars drone Ingenuity. Dr. Henry Tirri will transition to a Senior Advisor role, ensuring a smooth handover. This leadership change is expected to enhance InterDigital's capabilities in wireless and video technologies.