InterDigital, Inc. - IDCC STOCK NEWS

InterDigital, a mobile and video technology R&D company, has provided its third quarter 2021 revenue guidance, expecting between $119 million and $121 million. This includes estimated recurring revenue of $89 million to $91 million, driven by a $15 million increase in recurring revenue and $30 million from a fixed-price license agreement. Operating expenses are projected between $97 million and $105 million, including $18 million to $23 million in one-time restructuring expenses. The guidance excludes potential impacts from future agreements.

InterDigital (NASDAQ:IDCC) has announced a quarterly cash dividend of $0.35 per share on its common stock. This dividend is payable on October 27, 2021 to shareholders of record by October 13, 2021. The company, headquartered in Wilmington, Delaware, focuses on mobile and video technology research, addressing complex technical challenges and enhancing broadband networks and video delivery. InterDigital's strategic relationships with major technology firms bolster its position in the market.

InterDigital (NASDAQ:IDCC) has signed a multi-year, worldwide, non-exclusive, royalty-bearing license with Seiko Solutions Inc. covering 3G, 4G, and 5G cellular wireless technology. This agreement was reached through constructive negotiations and underscores the strong partnership between the two companies. InterDigital's portfolio has attracted approximately 80 licensees over the years, resulting in the sale of over 800 million licensed devices in the current year and more than six billion in the last decade, showcasing the company's significant impact in mobile and video technologies.

InterDigital (NASDAQ:IDCC) will present at the Oppenheimer 24th Annual Technology, Internet, and Communications Virtual Investor Conference on August 10, 2021, at 4:35 PM ET. The presentation will be available via live webcast, with an archived replay accessible afterward. InterDigital specializes in developing advanced mobile and video technologies to address critical industry challenges, partnering with leading technology companies. Founded in 1972, the company is committed to innovation in broadband networks and multimedia solutions.

InterDigital reported Q2 2021 financial results, showing recurring revenue of $78.1 million, down from $85.2 million in Q2 2020. Total revenue decreased to $87.7 million from $104.5 million year-over-year. Operating expenses rose to $90.9 million, reflecting $15.2 million in non-recurring charges linked to restructuring. The company incurred an operating loss of $3.1 million compared to a profit of $31.9 million in the prior year, while net income fell to $1.6 million ($0.05 per diluted share) from $22.3 million ($0.72 per diluted share). Cash and equivalents totaled $837.7 million.

InterDigital (NASDAQ:IDCC) has announced a multi-year, worldwide, non-exclusive licensing agreement with Xiaomi. This agreement includes a royalty bearing license covering Xiaomi's cellular-enabled devices related to InterDigital's essential patents for cellular wireless technologies (3G, 4G, 5G), WiFi, and HEVC video technology. As part of the settlement, both companies agreed to dismiss all pending patent litigation. This partnership will expand InterDigital's reach to millions of consumers globally, adding Xiaomi to their roster of about 80 licensed companies.

InterDigital (NASDAQ:IDCC) announced a UK High Court ruling confirming that Lenovo infringed on its patent essential to the 4G LTE standard. The court found the patent valid, emphasizing the strength of InterDigital's wireless patent portfolio. A trial to set licensing terms is scheduled for early 2022, following this judgment. This legal action is part of InterDigital's ongoing efforts to enforce its R&D investments in mobile and video technology, which are critical to many global technology leaders.

InterDigital (NASDAQ:IDCC) announced it will release its second quarter 2021 financial results on August 5, 2021, before market open. A conference call will follow at 10:00 a.m. ET to discuss financial performance and other matters. Interested parties can access the call via a live webcast on InterDigital's website. The company provides mobile and video technology solutions globally and is included in the S&P SmallCap 600 index.

InterDigital has announced its membership as a founding participant in the University of Texas at Austin’s 6G Research Center (6G@UT). This consortium includes major players such as Samsung, AT&T, NVIDIA, and Qualcomm, focusing on next-generation wireless technologies crucial for the 6G roadmap. The center will investigate areas like ubiquitous sensing and machine learning over a three-year period, with each company sponsoring two projects. Furthermore, InterDigital is also a founding member of the ATIS Next G Alliance, aimed at preparing the U.S. for future wireless advancements.