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Dec 31, 2023
InterDigital Q4 2023 Earnings Report
InterDigital experienced a decrease in revenue but an increase in net income for the fourth quarter of 2023.
Key Takeaways
InterDigital reported a 10% decrease in revenue but a 21% increase in net income for the fourth quarter of 2023. The company's full year revenue increased by 20%, driven by accelerating innovation and licensing momentum. They are guiding to another year of strong growth, with FY24 revenue expected in a range of $620 million to $670 million.
Revenue decreased by 10% year-over-year to $105.5 million.
Net income increased by 21% year-over-year to $39.1 million.
Diluted earnings per share increased by 31% year-over-year to $1.41.
The company expects full year 2024 revenue in a range of $620 million to $670 million.
InterDigital
InterDigital
Forward Guidance
InterDigital anticipates revenue between $245 million and $255 million for Q1 2024 and between $620 million and $670 million for the full year 2024. Adjusted EBITDA is expected to be between $116 million and $131 million for Q1 2024 and between $310 million and $345 million for the full year 2024.
Positive Outlook
- Q1 2024 Revenue guidance: $245M - $255M
- Q1 2024 Adjusted EBITDA guidance: $116M - $131M
- Q1 2024 Diluted EPS guidance: $2.40 - $2.95
- FY 2024 Revenue guidance: $620M - $670M
- FY 2024 Adjusted EBITDA guidance: $310M - $345M
Challenges Ahead
- Q1 2024 outlook doesn't include new agreements
- Includes revenue share costs of $66M to $69M for Q1 2024
- Based on 28.3M weighted-average diluted shares as of January 31, 2024
- FY 2024 Diluted EPS guidance: $4.95 - $6.15
- Includes revenue share costs of $80M to $90M for FY 2024