InterDigital, Inc. - IDCC STOCK NEWS

InterDigital (NASDAQ:IDCC) announced its revenue guidance for Q1 2021, projecting total revenue between $77 million and $81 million. This forecast reflects a growth from $76.2 million in Q1 2020, attributed to an expanded licensing program. The guidance excludes new potential patents or technology licensing agreements that may impact results. CFO Richard J. Brezski highlighted the benefits of a diverse licensing strategy. The release also contains forward-looking statements subject to uncertainties, including market projections and potential COVID-19 effects.

InterDigital has announced the completion of the EPIC project, a significant advancement in 6G technology development. This project involved a consortium of eight partners working to create Forward Error Correction (FEC) technology crucial for achieving terabytes per second in wireless communication. The successful demonstrations included high-throughput wireless baseband technologies, reaching data rates of 206 Gbps in real-time tests. This project represents a critical step towards the future commercialization of 6G systems and supports the transition from GHz to Terahertz bands.

InterDigital, Inc. (NASDAQ: IDCC) has announced the retirement of President and CEO William J. Merritt, effective April 5, 2021, after 25 years with the company. Liren Chen has been appointed as the new President and CEO, also starting on April 5, 2021. Chen, who brings over 25 years of experience from Qualcomm, will join the Board of Directors. The leadership transition aims to capitalize on opportunities in technology development, particularly in 4G and 5G networks, while retaining Merritt's consulting support for a smooth transition.

Shared Spectrum Company and InterDigital, awarded a contract for 5G dynamic spectrum sharing, will enhance Air Force radar coexistence with 5G services at Hill Air Force Base, Utah. This collaboration aims to develop technologies that improve spectrum availability and robustness in contested environments. As part of a broader Department of Defense initiative, the project supports the largest full-scale 5G tests for dual-use applications. The innovative solutions seek to advance military capabilities while ensuring minimal impact on legacy systems.

InterDigital has launched CompareAI, the first iOS app allowing experimentation with advanced image compression algorithms on resource-limited devices. Announced on February 23, 2021, this app enables researchers and developers to compare 15 deep learning-based models offline, marking a significant advancement in image compression technology. Users can select images to compare traditional methods like JPEG with AI techniques, offering insights into image quality and storage efficiency. This innovation builds upon InterDigital's open-source research, CompressAI.

InterDigital, Inc. (NASDAQ:IDCC) reported strong fourth-quarter and full-year financial results for 2020, highlighting a 13% year-over-year revenue growth. Fourth-quarter recurring revenue increased to $89.1 million, a 15% rise from 2019, thanks to new patent licensing agreements. Despite total revenue decreasing to $90.8 million, the company achieved an operating income of $3.1 million, though it faced a net loss of $1.4 million. For the full year, net income rose by 114% to $44.8 million, with earnings per share increasing 118% to $1.44. Free cash flow also grew significantly, reaching $121.1 million.

InterDigital Inc. (IDCC) announced the launch of its ETSI Multi-Access Edge Computing (MEC) Sandbox during a February 12 webinar. Awarded two contracts by the European Telecommunications Standards Institute, InterDigital will develop and maintain the sandbox, designed for app developers to experiment with standardized edge service APIs. The sandbox allows users to simulate various network technologies, fostering hands-on interaction with MEC service APIs. This initiative underscores InterDigital's commitment to enhancing edge computing capabilities.

InterDigital (NASDAQ:IDCC) will announce its Q4 2020 and full-year results on February 18, 2021, prior to market opening. A conference call at 10:00 AM ET the same day will detail the company's financial performance and strategic matters. Investors can access the call via InterDigital's website or by phone. The conference aims to provide insights into financial performance and forthcoming initiatives.

Founded in 1972, InterDigital specializes in mobile and video technology development.

On January 28, 2021, InterDigital (NASDAQ:IDCC) announced projected revenue for Q4 2020, forecasting between $87 million and $90 million, with recurring revenue expected to be between $85 million and $88 million. The company will recognize one-time charges of approximately $10-11 million related to patent portfolio management, contributing to a sequential increase in operating expenses of around $15 million. This follows a prior estimate of a $5 million expense increase driven mainly by litigation.