Slide 1: First Quarter 2025 Results
First Quarter 2025 Results May 1, 2025 ©2025 InterDigital, Inc. All Rights Reserved. 1
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Exchange Act, including but not limited to statements related to our outlook for Q2 and full year 2025, and other financial and business goals. Forward-looking statem
Slide 3: Agenda
Q1’25 Highlights Q2’25 and Annual Guidance Agenda Background on InterDigital Appendix ©2025 InterDigital, Inc. All Rights Reserved. 3
Slide 4: Q1'25 Highlights
Q1’25 Highlights ©2025 InterDigital, Inc. All Rights Reserved. 4
Slide 5: Financial Highlights
Revenue, Adj. EBITDAa and Diluted EPS all above the top end of the increased outlook* Annualized Recurring Revenueb (ARR) up 30% YoY Financial to all-time record of $503 million Highlights Smartphone ARRb up 40% YoY to $416 million Adj. EBITDAa up 22% to $159 million Adj. EBITDA margina of
Slide 6: Business Highlights
Signed new license agreement with vivo Mobile, a major Chinese smartphone vendor Recognized by LexisNexis as one of the world’s 100 most innovative companies fourth year in a row Business Honored Martino Freda and Philippe Bordes as 2025 Inventors of the Year Highlights Showcased groundbreak
Slide 7: License Agreement With vivo
vivo is one of the largest smartphone manufacturers based in China License covers >100 million mobile devices shipped License annually Agreement reached through bilateral negotiation Agreement Further validates importance of our foundational With vivo innovation and strength of our IP portfo
Slide 8: Financial Results vs. Outlook
Financial Results vs. Outlook Q1’25 RESULTS Q1’25 OUTLOOK (Increased March 6, 2025) Revenue $210.5M $202M - $206M Adjusted EBITDAa $159.1M $143M - $150M Diluted EPS $3.45 $2.78 - $2.99 Non-GAAP EPSa $4.21 $3.66 - $3.90 aNon-GAAP Measure / Please see appendix for GAAP to Non-GAAP reconciliations. ©20
Slide 9: Q1'25 Results
Q1’25 Results ARRa Revenue +30% YoY $503M <20%> YoY* $388M $264M $211M Q1 ’24 Ce, IoT/Auto Q1 ’25 Q1 ’24 Q1 ’25 Smartphone 300 Adjusted EBITDAb 100% 90% 7 Non-GAAP EPSb +22% YoY 76% 80% 6 +18% YoY 200 70% 5 60% 49% 4 50% 40% 3 100 30% $159M 2 $4.21 $130M 20% $3.58 10% 1 0 0% 0 Q1 ’24 Q1 ’25 Q1 ’24 Q
Slide 10: Q2'25 and Annual Guidance
Q2’25 and Annual Guidance ©2025 InterDigital, Inc. All Rights Reserved. 10
Slide 11: Q2 License Agreement With HP
• Multi-year agreement licenses HP personal computers to our WiFi and video decoding technologies • HP is one of the world’s largest PC manufacturers Q2 License • Agreement reached through bilateral negotiation Agreement • Further validates importance of our foundational innovation and growth potent
Slide 12: Company Reaffirms FY 2025 Guidance
Company Reaffirms FY 2025 Guidance (as of May 1, 2025) Q2’25 OUTLOOK FY25 OUTLOOK Revenue $165M - $170M $660M - $760M Adjusted EBITDAa $107M - $114M $400M - $495M Diluted EPS $1.90 - $2.11 $6.79 - $9.67 Non-GAAP EPSa $2.67 - $2.90 $9.69 - $12.92 The table above presents guidance of the Company's cur
Slide 13: Upcoming Investor Events
Upcoming Investor Events June 3 June 11 William Blair Growth Stock Conference Annual Meeting of Shareholders Chicago, IL Virtual June 4 June 25 BofA Tech Conference Roth 1x1 Conference San Francisco, CA London June 4 Baird Consumer, Tech & Services Conference New York, NY ©2025 InterDigital, Inc. Al
Slide 14: Background on InterDigital
Background on InterDigital As of May 1, 2025 ©2025 InterDigital, Inc. All Rights Reserved. 14
Slide 15: InterDigital
01 Company Introduction Long-term 05 InterDigital 02 Premier Team Growth Strategy Innovating Today, Empowering Tomorrow 04 03 Accelerating Business Essential Technology Momentum Development ©2025 InterDigital, Inc. All Rights Reserved. 15
Slide 16: InterDigital Pioneering Wireless, Video and AI Research
InterDigital Pioneering Wireless, Video and AI Research HIGHLIGHTS Industry-leading Long-term customers Enabling ecosystem World-class team Driving foundational patents Evergreen Subscription-like revenue, Over two billion devices Led by seasoned research in wireless, and $5.7T economic industry vet
Slide 17: World-Class Leadership Team
World-Class Leadership Team Decades of industry experience. Strong track record. Drive deep collaboration and superb execution Liren Chen Rajesh Pankaj Julia Mattis Rich Brezski CEO CTO Chief Licensing CFO Officer (Interim) Michael Cortino Ken Kaskoun Skip Maloney Joshua Schmidt Robert S. Stien Chie
Slide 18: IP as a Service Business Model: A Virtuous Cycle of Innovation
IP as a Service Business Model: A Virtuous Cycle of Innovation We are a foundational R&D company. We share our innovation through the standards process and monetize our technology through IP licensing. PATENT LICENSING PORTFOLIO $ RESEARCH & PRODUCT INNOVATION IMPLEMENTERS STANDARD TECHNOLOGY DEVELO
Slide 19: We Focus on Foundational Technologies
We Focus on Foundational Technologies We solve the most complex problems in the system. The technology we created is broadly applicable to many industries WIRELESS VIDEO AI Cellular wireless - 4G/5G/6G Video compression, transport Using AI for wireless and video and enhancement WiFi and wireless loc
Slide 20: InterDigital Tech Underpins Surging Mobile Traffic
InterDigital Tech Underpins Surging Mobile Traffic Video Drives Surge in Mobile Data Traffic Estimated global media traffic by application category (in exabytes per month)* 2017 10.8 EB 2022 90.4 EB 2027 282.8 EB 0 50 100 150 200 250 300 * One exabyte equals one million terabytes. Source: Ericsson M
Slide 21: Our Innovations Help Drive Video Codec Evolution
Our Innovations Help Drive Video Codec Evolution Uncompressed: 11,600GB Compressed AVC: ~24 GB(1) VP9: ~15 GB HEVC: ~14 GB(1) AV1: ~11 GB VVC: ~9 GB(2) 4K Movie 130-Minute Run Time (1) http://www.iam-media.com/litigation/what-will-tv-cost-you-putting-price-hevc-licences (2) Approximated based on the
Slide 22: The Power of the Global Standards System
CONSUMERS A global system of standards helps ensure interoperability The Power of the Global IMPLEMENTERS Standards like 5G lower barriers to Standards entry for new entrants into a market like smartphones and benefit from System economies of scale OPERATORS AND SERVICE PROVIDERS Standards increase
Slide 23: InterDigital Drives Standard Development
InterDigital Drives Standard Development UNITING PRINCIPLES STRONG LEADERSHIP BROAD COLLABORATIONS Strong belief in global standards Participate in 100+ standard Collaborate with many industry development organizations (SDO) partners and leading universities Focus on technology merits and neutral on
Slide 24: We Have Many Standard Development Leadership Positions
We Have Many Standard Development Leadership Positions Cellular & WiFi Standards RAN2 SA6 ETSI Board Member RIS ISG PDL SAI Steering Group Co-Chair SA Board of Governors AIML Standing Internet WG Chair Chair ISAC ISG Chair Chair Vice Chair Vice Chair 6G Roadmap Vice-Chair Policy & Procedures Committ
Slide 25: One Of Only Three Companies with Multiple 3GPP Chair Positions
One Of Only Three Companies with Multiple 3GPP Chair Positions Radio Access Network Services & System Core Network & (RAN) Aspects (SA) Terminals (CT) WG1 WG1 WG1 Radio Layer1 Services User Equipment To Core Network Protocols WG2 WG2 WG3 Radio Layer 2/3 System Architecture Interworking With External
Slide 26: InterDigital is a Recognized Global Innovation Leader
InterDigital is a Recognized Global Innovation Leader For the fourth year in a row, LexisNexis recognized InterDigital amongst the World’s 100 Most Innovative Business. Innovation Momentum 2025: The Global Top 100, “represents the world’s leading patent owners with the highest innovation momentum.”
Slide 27: Innovation Engine Fuels Evergreen IP Portfolio
Innovation Engine Fuels Evergreen IP Portfolio Our patent portfolio grew > 70% between 2017 & 2025 with the addition of video & DTV related technologies and continuing growth of wireless assets 2017: 2025: ~19,000 Assets ~34,000 Assets Portfolio is evergreen, growing by ~6 new patents each day Cellu
Slide 28: InterDigital Ranks Among the Highest in Patent Quality
InterDigital Ranks Among the Highest in Patent Quality for 5G, Video Codec, and WiFi Patents Average Competitive Impact 5G Patent Holders Video Codec Patent Holders WiFi Patent Holders 0 5 10 15 0 2 4 6 8 0 2 4 6 8 InterDigital InterDigital Company # 1 Company # 2 Company # 2 Company # 2 Company # 3
Slide 29: Accelerating Business Momentum
Accelerating Business Momentum ©2025 InterDigital, Inc. All Rights Reserved. 29
Slide 30: Licensing Success Drives ARR Growth
Licensing Success Drives ARRa Growth More than 40 licenses with TCV > $3.6B closed since the start of 2021 $550M $500M Apple & Samsung Renewals Fortify Base $450M $400M $350M $300M $250M 2020 2021 2022 2023 2024 Q1’25 * *Currently in binding arbitration to set royalty a Please see appendix for a des
Slide 31: Strong Revenue Growth, Margins and Return of Capital
Strong Revenue Growth, Margins and Return of Capital $900 Revenue Non-GAAP EPSa $16.00 $800 25% CAGR > 6.5X growth $14.00 $700 $12.00 $600 $10.00 $500 $869M $8.00 $14.97 $400 $300 $6.00 $550M $9.23 $200 $425M $458M $4.00 $359M $2.00 $5.08 $100 $2.27 $3.73 $0 $0.00 2020 2021 2022 2023 2024 2020 2021
Slide 32: Long-term Growth Strategy
Long-term Growth Strategy ©2025 InterDigital, Inc. All Rights Reserved. 32
Slide 33: Our Technologies Benefit the Economy and the World
Our Technologies Benefit the Economy and the World 5.6 billion Mobile technologies 5G is projected to people globally and services Enables 35 million add nearly $1 subscribed to a generate $5.7 jobs across the trillion to the mobile service, trillion economic wider mobile including 4.7 billion value
Slide 34: We Address Three Attractive Markets
We Address Three Attractive Markets ’25 – ’28E Significant 2025E TAM CAGR Customers Key Market Dynamic Market Increasing ~1.3B Units SMARTPHONES ~3% <10 concentration of (~$470B) top OEMs High shipment growth ~1.6B Units CE, IoT/AUTO ~6% ~100 with fragmentation (~$400B)1 across segments High growth
Slide 35: Clear Pathway to Growth $1B+
Clear Pathway to Growth $1B+ ARRa Target 2030 Q1-2025 2030 ~$500M $416M ~$300M+ ~$200M $86M (by (by 2027) 2027) $0 SMARTPHONE CE, IOT/AUTO STREAMING & Increase penetration Increase penetration CLOUD SERVICES Enhance valuation during renewals Expand market coverage Grow video services licensing progr
Slide 36: Strong Runway for Continued Smartphone Growth
Strong Runway for Continued Smartphone Growth SMARTPHONES GLOBAL MARKET 1.3B global device shipments 2025 Long Tail • Large global market, projected to grow with 3% CAGR 2025-28 • Revenue growth from licensing 3% remaining top OEMs • Driving higher value from key accounts during renewal 19% 78% Lice
Slide 37: Good Momentum in CE - Large Opportunity Remains
Good Momentum in CE - Large Opportunity Remains PCs: 298M 2025 TABLETS: 121M 2025 TVs: 214M 2025 % global device shipments % global device shipments % global device shipments 13% 11% 7% 32% 16% 73% 55% 32% 61% 51% Licensed Primary Opportunity Long Tail Deals with major OEMs such as Approx. 50% licen
Slide 38: Strong Growth Opportunity in Automotive and IoT
Strong Growth Opportunity in Automotive and IoT PASSENGER VEHICLE SHIPMENTS (M) CELLULAR IOT SHIPMENTS (M) 5G Active Licensing Program 4G CAGR ~10% ~80 CAGR ~15% ~60 5G auto market driving Others value Healthcare growth Enterprise ~85% of Industrial 4G auto PoS market ~350 Smart Meters licensed ~250
Slide 39: SVoD and AVoD Are Our Focus Verticals
SVoD and AVoD Are Our Focus Verticals 2025 TAM 2028 TAM TAM CAGR VIDEO SVoD AVoD GLOBAL PAY-TV CONFERENCING CLOUD GAMING +10% +13% +5% $360 B -1% +5% $270 B $190 B $160 B $180 B $170 B $18 B $21 B $5 B $6 B Source: OMDIA ©2025 InterDigital, Inc. All Rights Reserved. 39
Slide 40: Capital Allocation Priorities
Capital Allocation Priorities Maintain fortress Organic investment Inorganic Return Excess cash balance sheet in business investment to shareholders Financial strength Prioritize investment Opportunistic and $1.3B+ in share is a strategic asset into research and strategic repurchases since ‘11 IP po
Slide 41: Target Financial Model for 2030
Target Financial Model for 2030 $1B+ ARRa Powerful Operating High Margin Drives Leverage drives Strong Cash Flow Well 14%+ 60%+ $600M+ positioned to drive Annual Adjusted Adjusted value going Growth EBITDA EBITDAb forward Target Marginb Target Target a Please see appendix for a description of this m
Slide 42: Key Takeaways
World-class leadership and functional teams across the board Accelerating momentum for R&I, standard development, Key patent portfolio creation and licensing driven Takeaways by continuing investment and strong execution Our technologies are critical to devices and services of multiple industries, g
Slide 43: Appendix
Appendix ©2025 InterDigital, Inc. All Rights Reserved. 43
Slide 44: Supplemental Metrics
Supplemental Metrics Annualized recurring revenue ("ARR") for any quarter is defined as total revenues for the quarter less catch-up revenues for the quarter, multiplied by four. Management believes ARR provides useful information about our financial performance, and our progress toward our 2030 tar
Slide 45: Non-GAAP Reconciliation
Non-GAAP Reconciliation Full Year Three Months Ended Outlook Full Year 2020 2021 2022 2023 2024 Q1'24 Q1'25 Q1'25 Q2'25 (In millions) 2025 Net income attributable to InterDigital, Inc. $ 45 $ 55 $ 94 $ 214 $ 359 $ 82 $ 116 $94 - $101 $64 - $71 $224 - $319 Net loss attributable to non-controlling int
Slide 46: Non-GAAP Reconciliation
Non-GAAP Reconciliation Full Year Three Months Ended Outlook Full Year 2020 2021 2022 2023 2024 Q1'24 Q1'25 Q1'25 Q2'25 (In millions, except per share data) 2025 Net income attributable to InterDigital, Inc. $ 45 $ 55 $ 94 $ 214 $ 359 $ 82 $ 116 $94 - $101 $64 - $71 $224 - $319 Share-based compensat