InterDigital's Outstanding 2024 Financial Performance

Strong Business Performance Drives Record Revenue and EPS in 2024

InterDigital, Inc. (Nasdaq: IDCC), a leading research and development company in mobile, video, and AI technologies, reported impressive results for the fourth quarter and the entire year of 2024. The company achieved record revenue and earnings per share (EPS), showcasing a robust growth trajectory.

According to InterDigital's CEO and President, Liren Chen, the company saw its business momentum accelerate throughout the fourth quarter, with revenues increasing by an astonishing 140% year-over-year to reach $253 million. For the full year of 2024, InterDigital reported record revenues of $869 million, marking a 58% increase compared to the previous year. This growth is primarily attributed to significant progress in licensing programs and new partnerships with major device manufacturers.

In addition to the financial achievements, InterDigital announced a 33% increase in its quarterly dividend, raising it from $0.45 to $0.60 per share. This increased dividend reflects the company's commitment to returning capital to its shareholders and its confidence in ongoing business performance.

Summary of Fourth Quarter and Full Year 2024 Results

The financial summary for InterDigital in 2024 is as follows:

Metric	Q4 2024	Q4 2023	Change	FY 2024	FY 2023	Change
Revenue	$252.8 million	$105.5 million	+140%	$868.5 million	$549.6 million	+58%
Net Income	$133.1 million	$39.1 million	+241%	$358.6 million	$214.1 million	+68%
Diluted EPS	$4.09	$1.41	+190%	$12.07	$7.62	+58%

The increase in revenue was supported by catch-up revenues from several new agreements signed in 2024, including partnerships with prominent companies like Samsung and OPPO.

Shareholder Returns and Future Outlook

InterDigital's Board of Directors approved the increase in the company’s quarterly cash dividend, effective with the dividend payment scheduled for the second quarter of 2025. In addition, the company is anticipating healthy cash flows and profits, with projections for first-quarter 2025 revenues between $112 million and $116 million.

The company also announced that its 3.50% Senior Convertible Notes due 2027 will be convertible in the upcoming calendar quarter. This allows for additional opportunities to manage its capital structure effectively.

A conference call will be held by InterDigital to discuss its fourth-quarter and full-year financial performance further. Investors are encouraged to participate in the call through the company’s website.

About InterDigital

InterDigital is a global leader in the development and licensing of advanced wireless technologies, video processing, and artificial intelligence. Established in 1972, the company designs and develops foundational technologies that facilitate the creation of connected, immersive experiences. Its innovations are licensed worldwide to manufacturers of wireless devices and providers of video streaming services among others.

InterDigital, Earnings, Dividend