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Revenue, Adjusted EBITDA2 and EPS above top end of guidanceAll-time record annualized recurring revenue4, up 30% YoYCompany reaffirms full year 2025 guidance
WILMINGTON, Del., May 01, 2025 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile, video, and AI technology research and development company, today announced results for the quarter ended March 31, 2025.
"In the first quarter, we licensed vivo Mobile, a major smartphone vendor, to drive revenue above the top end of our guidance and increase our annualized recurring revenue to a record level. We now have seven of the ten largest smartphone vendors and almost 80% of the entire global smartphone market under license," commented Liren Chen, President and CEO, InterDigital. "Early in the second quarter, we signed another major license agreement with HP under our consumer electronics and IoT program. With these new deals, we have signed agreements with a cumulative total contract value of more than $3.6 billion since 2021, giving us a strong base from which to drive additional growth."
First Quarter 2025 Financial Highlights, as compared to First Quarter 2024:
| Three Months Ended March 31, | ||||||
| (in millions, except per share data) | 2025 | 2024 | Change | |||
| GAAP Results: | ||||||
| Revenues (a) | $210.5 | $263.5 | (20)% | |||
| Operating expenses | $78.7 | $159.8 | (51)% | |||
| Net income 1 | $115.6 | $81.7 | 42% | |||
| Net income 1 margin | 55% | 31% | 24 ppt | |||
| Diluted EPS 1 | $3.45 | $2.88 | 20% | |||
| Non-GAAP Results: | ||||||
| Adjusted EBITDA 2 | $159.1 | $130.4 | 22% | |||
| Adjusted EBITDA margin 2 | 76% | 49% | 27 ppt | |||
| Non-GAAP Net income 3 | $125.7 | $94.5 | 33% | |||
| Non-GAAP EPS 3 | $4.21 | $3.58 | 18% | |||
| Additional Information: | ||||||
| Annualized recurring revenue 4 | $502.9 | $387.5 | 30% | |||
| Catch-up revenues | $84.8 | $166.7 | (49)% | |||
| Revenue by program: | ||||||
| Smartphone | $184.0 | $80.3 | 129% | |||
| CE, IoT/Auto | $26.3 | $182.5 | (86)% | |||
| Other | $0.2 | $0.7 | (65)% | |||
(a) Decrease is primarily driven by lower catch-up revenues in Q1'25
Return of Capital to Shareholders
| Share Repurchases | Dividends Declared | Total Returnof Capital | ||||||||||||
| (in millions, except per share data) | Shares | Value | Per Share | Value | ||||||||||
| First quarter 2025 | ||||||||||||||
