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Trickledown - Friday (12/16) was options expiration day for IDCC (also a triple witch option expiration day for the market). Short interest was just over 2 million shares as of 11/30 so I would expect that a lot of those shorts closed their position primarily due to the new coverage by Jefferies sporting a $80 price target.
Selling for tax related reasons ends at the end of December so it may be easier for the price of IDCC to rise. This would provide the shorts with another reason to close out their position. JMHO
Paullee - from your post #429711 on 1/14/22:
_________________________
Lenovo Makes $80M Play To Resolve InterDigital IP Dispute
By Joanne Faulkner · Listen to article
Law360, London (January 14, 2022, 1:46 PM GMT) -- Lenovo offered to pay InterDigital a lump payment of $80 million on Friday to end a long-running battle over fair and reasonable licensing terms for mobile phone standard patents, arguing that it was comparable with deals struck by other major manufacturers.
The Chinese tech company has offered to make a lump payment of $80 million to InterDigital as it seeks to end a long-running battle over mobile phone standard patents. (AP Photo/Ahn Young-joon)
China's Lenovo said during the early stages of a High Court trial in London to settle terms for global licenses for 3G, 4G and 5G standard patents owned by InterDigital that it had always been willing to pay for a license. But the company said it wanted similar terms to those that had been offered to its rivals including Apple, Samsung and Huawei.
InterDigital, a U.S. company, has been holding out for a "discriminatory premium" compared with the rates paid by other manufacturers — "to the tune of hundreds of millions of dollars and to which it is not entitled," Lenovo said in court documents.
The large amounts of money demanded by InterDigital are also at odds with the value of its patent portfolio, Daniel Alexander QC, counsel for Lenovo told the court on Friday.
InterDigital is trying to justify an "inflated rate" for its patents that increases the royalty burden for Lenovo and potentially the whole industry, Alexander said.
The U.S. company, meanwhile, did not put an exact figure on the amount it is seeking, arguing that a number of payment terms had to be considered by the court.
The 16-day trial is set to establish a fair, reasonable and non-discriminatory licensing rate, known as FRAND, for InterDigital's technology. The research and development company is also asking the court to make provisions for it to recover past damages for years of patent infringement by Lenovo.
Lenovo says that InterDigital's offers so far do not conform with FRAND principles. The Chinese company will urge the English courts to adopt the same approach as courts in China and the U.S. that give dominant weight to comparable agreements with other manufacturers when deciding what standard essential patent owners can charge.
This is the second FRAND license case to reach trial in the U.K. It follows in the wake of the Supreme Court's landmark decision in a case known as Unwired that England's courts have the authority to set global rates for use of standard-essential patents.
When it decides what rate to set, the court will have to resolve a dispute over whether it is appropriate to include in the FRAND terms a mechanism that takes into account the results of the international parallel proceedings.
Adrian Speck QC, counsel for InterDigital, focused during the hearing on Thursday on what he described as an "unwillingness" by Lenovo to resolve licensing talks that have been going on since 2009.
Speck accused Lenovo of opting to continue expensive litigation rather than trying to reach a fair royalty rate for InterDigital's portfolio and to delay handing over patent fees. Lenovo has been "thumbing its nose" at efforts to persuade it to take the license it lawfully needs to make and sell mobile products worldwide, Speck continued.
The only terms upon which Lenovo would do a deal "is if it was more economically advantageous than what it would cost to string out litigation," the lawyer added.
Lenovo is also ignoring the fact that the license the English court is being asked to consider is a worldwide license for every device sold by the company, Speck said. Any national determination for U.S. and Chinese patents do not have a worldwide scope.
InterDigital is arguing that it should be able to block sales of Lenovo's devices if it refuses to accept the court-determined licensing terms.
According to InterDigital, the Chinese manufacturer is trying to avoid the Supreme Court's 2020 decision. FRAND is not a "hard-edged principle of non-discrimination" — it does not require a patent owner to always offer the most advantageous terms it has ever offered, the company said in court documents.
Five InterDigital portfolio patents are also the subject of ongoing, parallel technical trials at the High Court.
In the second judgment handed down earlier this month, a judge found that one of InterDigital's standard-essential patents for 3G wireless technology is invalid because it lacks novelty. The patent covers the way in which data blocks of specified sizes are transmitted by mobile phones, according to the judgment.
This contrasts with the first technical decision from July in which InterDigital emerged on top. The High Court ruled in that instance that the Chinese tech giant had infringed a valid standard-essential patent for 4G wireless technology.
InterDigital is represented by Adrian Speck QC, Mark Chacksfield QC, Isabel Jamal, Thomas Jones and Edmund Eustace of 8 New Square, instructed by Alex Brodie and Matt Hervey of Gowling WLG.
Lenovo and Motorola are represented by Daniel Alexander QC and William Duncan of 8 New Square and James Segan QC and Ravi Mehta of Blackstone Chambers, instructed by Daniel Lim of Kirkland & Ellis International LLP.
The case is InterDigital Technology Corporation and others v Lenovo Group Limited and others, case number HP-2019-000032, in the Business and Property Courts, Intellectual Property List, Chancery Division of the High Court of Justice of England and Wales.
–Additional reporting by Bonnie Eslinger. Editing by Ed Harris.
Paul Lee - Thank you sir. EOM
Does anyone have access to this:
Lenovo Fights To Invalidate InterDigital 4G Patent On Appeal
By Sophia Dourou
December 14, 2022, 6:30 PM GMT
Lenovo asked an appeals court Wednesday to find an InterDigital patent for technology used in 4G is invalid, arguing an earlier judge took the wrong approach in deciding whether the invention...
Jefferies analyst Mark Lipacis initiates coverage on InterDigital (NASDAQ:IDCC) with a Buy rating and announces Price Target of $80.
InterDigital Declares Regular Quarterly Cash Dividend
Source: GlobeNewswire Inc.
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.35 per share on its common stock, payable on January 25, 2023, to shareholders of record at the close of business on January 11, 2023.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
Alan Stein
Vice President, Technology
Why Did Interdigital Join the Streaming Video Alliance?
InterDigital is involved in many industry alliances and standards bodies dedicated to the transition to streaming video, particularly focused on streaming over cellular wireless networks at scale. We believe our unique research expertise can contribute to the good work of SVTA in a few domains, specifically video compression, network streaming protocols, and energy reduction/sustainability.
What Do You Believe is the Biggest Technical Challenge Facing the Streaming Video Industry the Alliance Can Help Address?
We believe the streaming industry is suffering from the “launch codec” legacy device difficulty with H.264, as broadcast and cable experienced with MPEG-2 a few years ago. It is challenging to migrate to more efficient codecs, despite their dramatic increase in efficiency. In fact, VVC delivers a greater than 3:1 benefit when compared to H.264. We are also concerned with streaming’s relative energy consumption as compared to multicast-capable systems like ATSC 3.0. We believe a hybrid broadcast-broadband approach could mitigate some of the inefficiencies, which would be good for both the industry and the planet.
How Does an Organization Like the Streaming Video Alliance Bring Value to the Industry?
The streaming industry has grown quickly, often leaving gaps in authoritative voices to provide apples-to-apples comparisons of solutions. SVTA members intimately understand quality of experience and the challenges of scale, and this group can be industry’s leading voice, as supported by unbiased testing and reporting.
About
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.
New white paper examines the innovative solutions ushering the video entertainment industry towards a more sustainable future
11/14/2022 | 04:00am
WILMINGTON, Del., Nov. 14, 2022 (GLOBE NEWSWIRE) -- As the carbon footprint of the video entertainment industry has ballooned to exceed even that of the airline industry, an important question has been what will it take to make sustainability a key element of video content creation? A new whitepaper released today by InterDigital, Inc. (NASDAQ: IDCC) and written by Futuresource Consulting explores the reasons why the video entertainment industry must lead on positive climate action, set higher standards when it comes to energy efficiency, and integrate solutions that mitigate energy consumption across the end-to-end video chain.
The whitepaper, Sustainability in Video Entertainment, discusses how the content industry is embracing sustainable change by leveraging the supporting technologies and strategies that actively contribute to a more environmentally friendly production environment. Many within the industry have high hopes for developments including remote production; greater overall efficiency in the delivery of IP-based services; the rise of virtual production; cloud-based solutions; environmentally optimized outside broadcasting (OB) trucks; universally efficient data centers; and the manufacturing drive to make consumer products more efficient and authenticated through transparent energy certification.
“This paper comes at a moment when industry stakeholders are thinking about how they can get a handle on the industry’s carbon footprint, and in response, develop the solutions which are seriously needed to minimize the environmental impact of content creation, exchange, and delivery,” said Erik Reinhard, Distinguished Scientist, InterDigital. “It reflects the industry view that more needs to be done within the video entertainment sector to measure and address what it can to achieve more sustainable operations for the video content we all enjoy.”
The paper reveals:
The carbon footprint for production is immense: medium-sized films have an average carbon footprint of 769 metric tons of CO2e, with large films generating substantially more emissions, creating 1,081 metric tons per production
An average day of filming generates more than one person’s annual carbon footprint while an average hour filming is equivalent to the carbon footprint of a return flight from London to New York
Going cloud native saves energy: production services are highly virtualized and as a result, harness more energy efficient equipment than conventional on-premises set ups
Data centers worldwide are becoming more efficient: Power Usage Effectiveness (PUE) averages 1.5 today, but newer installations achieve far better performance
More than a billion hours of content is consumed on a single streaming platform every single day and as a consequence the video streaming industry’s annual carbon footprint now exceeds that of the airline industry
“The video industry is now laser-focused on increasing the sustainability of visual entertainment. From filming and content creation, through broadcast distribution and internet streaming, to consumer devices themselves, all elements of the delivery chain are actively improving efficiency,” says Simon Forrest, Principal Technology Analyst, Futuresource Consulting. “Yet there are continuous challenges: on current trajectories, global TV energy usage alone could increase 5% by 2026 as consumers upgrade to higher resolution screens and transition to 4K HDR video. So, there are clear opportunities for further innovation in video coding and delivery mechanisms to help mitigate this potential rise.”
The paper argues that energy-aware streaming protocols promise over 50% in energy savings per hour of content, and InterDigital is an active contributor with innovative solutions in this space. Investigating solutions and technologies to reduce the energy consumption of visual media, InterDigital’s Video Lab has developed critical energy-aware image processing methods, which can help reduce energy consumption without changing visual quality, alongside energy-aware activities in ITU (International Telecommunication Union), DVB (Digital Video Broadcasting), MPEG (Moving Picture Experts Group) and SMPTE (Society of Motion Picture and Television Engineers), as well as foundational support for new video codecs like VVC (Versatile Video Coding), which boasts a significant bitrate reduction and more efficient transmission of 4K UHD (Ultra High Definition) content.
To read the whitepaper, Sustainability in Video Entertainment, please click here.
About InterDigital ®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.InterDigital.com
InterDigital Contact:
Roya StephensEmail: Roya.Stephens@interdigital.com+1 (202) 349-1714
Source: InterDigital, Inc.
2022 GlobeNewswire, Inc. source Press Releases
Copyright 2022 © Acquiremedia
InterDigital Awarded Five Horizon Europe 6G Flagship Projects Targeting Revolutionary Technology Advancement and Experimental Infrastructures
Source: GlobeNewswire Inc.?
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that it has been awarded funding to support five Horizon Europe 6G Flagship research projects. Specifically, the five flagship projects include 6G-XR, CENTRIC, PREDICT-6G, 6G-BRICKS, and 6G-SHINE, each uniquely dedicated to enabling revolutionary technology advancement and experimental infrastructures in 6G.
InterDigital’s awarded flagship projects are part of a portfolio of 35 research, innovation, and trial projects curated by the EU’s Smart Networks and Services Joint Undertaking (SNS JU) to enable the evolution of 5G ecosystems and promote 6G research in Europe. Jointly led by the European Commission and 6G-IA industry association, the SNS JU is responsible for fostering European leadership and technology sovereignty in 6G while boosting 5G deployment across the European continent. The program has allocated upwards of €250 million to fund the portfolio of 6G flagship projects.
“We are honored to be awarded five Horizon Europe 6G flagship projects to help shape the 6G vision. Being selected for each of these unique projects will enable us to leverage our research heritage and expertise that will shape 6G development in Europe through the future,” said InterDigital’s Chief Technology Officer Rajesh Pankaj. “A competitive research environment helps drive our industry forward by pushing the limits of what is possible in the wireless technology landscape. These awards demonstrate InterDigital’s continuous contributions to the European wireless research and innovation ecosystem, as we build upon a strong record of engagement in the Horizon 2020 5G public-private partnership program.”
Of the 35 projects within the SNS JU Horizon Europe portfolio, those awarded to InterDigital are aimed at exploring novel technologies and system architectures to be adopted in commercial networks in the medium or long term, as well as developing EU-wide experimentation platforms that can serve as a sandbox to validate technical 6G enablers. More information on the projects can be found below.
CENTRIC project targets the development of radio access technologies towards fulfilling the ultimate vision of a 6G user centric Artificial Intelligence (AI) native air interface.
PREDICT-6G project focuses on laying the foundations of an AI-powered Digital Twin framework to predict the behavior of the end-to-end 6G network and using this framework to enhance the reliability and time sensitivity of the network.
6G-SHINE project in turn focuses on the design of short-range communication protocols that can meet the extreme bandwidth, latency and energy requirements emerging for 6G.
6G-XR project targets the development of an experimental research infrastructure to evaluate and validate the performance of key 6G candidate technologies, components, and architectures, with focus on enabling next generation Extended Reality (XR) services.
6G-BRICKS project focuses on setting up an experimental research facility to evaluate two key 6G candidate technologies, namely Reconfigurable Intelligent Surfaces (RIS) and cell-free massive multiple input multiple output (MIMO).
About InterDigital?®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital?Contact:
Roya Stephens
Email:?Roya.Stephens@InterDigital.com
+1 (202) 349-1714
InterDigital Announces Financial Results for Third Quarter 2022
Source: GlobeNewswire Inc.
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced results for the quarter ended September 30, 2022.
“We significantly strengthened our business by renewing our license with Apple through 2029,” said Liren Chen, CEO and President of InterDigital. “In addition, new agreements drove our sixth consecutive quarter of recurring revenue growth in the consumer electronics and IoT/automotive markets. All together, we have signed sixteen agreements over the last eighteen months with a total estimated contract value of more than $1.5 billion. I look forward to building on this foundation as we pursue significant growth opportunities in licensing both devices and services.”
Third Quarter 2022 Financial Highlights
Total revenue, which includes both recurring and non-recurring revenue, of $114.8 million decreased 20% from $143.5 million in third quarter 2021 primarily due to $50.1 million of non-recurring revenues in third quarter 2021.
Recurring revenue increased 8% to $101.0 million, compared to recurring revenue of $93.4 million in third quarter 2021. The company increased recurring revenue in both its smartphone (up 4%) and CE, IoT/Auto markets (up 60%).
Operating expenses were $82.9 million, compared to $106.7 million in third quarter 2021. The decrease was primarily driven by a $21.3 million reduction of non-recurring costs from restructuring activities, revenue share costs and a reduction in performance-based compensation.
Income from operations was $31.8 million compared to $36.8 million in third quarter 2021.
Net income1 was $22.2 million, or $0.74 per diluted share, compared to $26.2 million, or $0.83 per diluted share, in third quarter 2021.
Adjusted EBITDA2 was $56.4 million compared to $78.3 million in third quarter 2021, primarily driven by $50.1 million of non-recurring revenue in third quarter 2021.
Near Term Outlook
The company expects recurring revenue for fourth quarter to be between $98 and $102 million. This revenue guidance covers existing agreements, including the company’s recent renewal of its license agreement with Apple, and does not include the potential impact of any additional new agreements that may be signed during the balance of fourth quarter 2022.
The company expects fourth quarter operating expenses will be in the range of $76 to $79 million. In addition, the company expects non-operating expenses, comprised of interest expense and other income (expense), will be in the range of $4 to $6 million and the effective tax rate will be in the range of 21% to 24%.
Conference Call Information
InterDigital will host a conference call on Thursday, November 3, 2022 at 10:00 a.m. ET to discuss its third quarter 2022 financial performance and other company matters.
For a live Internet webcast of the conference call, visit www.interdigital.com and click on the “Webcast” link on the Investors page. The company encourages participants to take advantage of the Internet option.
For telephone access to the conference call, visit www.interdigital.com and click on the “Dial In Registration” link on the Investors page. Registration is necessary to obtain a dial in phone number and PIN to join.
An Internet replay of the conference call will be available on InterDigital’s website under Events in the Investor’s section. The replay will be available for one year.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit the InterDigital website: www.interdigital.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding our current beliefs, plans and expectations, including, without limitation, our belief that we will continue to be able to execute strongly on our business during the ongoing COVID-19 pandemic. Words such as “believe,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “forecast,” “goal,” “could,” "would," "should," "if," "may," "might," "future," "target," "trend," "seek to," "will continue," "predict," "likely," "in the event," and variations of any such words or similar expressions are intended to identify such forward-looking statements.
Forward-looking statements are made on the basis of management’s current views and assumptions and are not guarantees of future performance. Forward-looking statements are inherently subject to risks and uncertainties that could cause actual results, and actual events that occur, to differ materially from results contemplated by the forward-looking statements. These risks and uncertainties include, but are not limited to: (i) unanticipated delays, difficulties or accelerations in the execution of patent license agreements; (ii) our ability to leverage our strategic relationships and secure new patent license agreements on acceptable terms; (iii) our ability to enter into sales and/or licensing partnering arrangements for certain of our patent assets; (iv) our ability to enter into partnerships with leading inventors and research organizations and identify and acquire technology and patent portfolios that align with our roadmap; (v) our ability to commercialize our technologies and enter into customer agreements; (vi) the failure of the markets for our current or new technologies and products to materialize to the extent or at the rate that we expect; (vii) unexpected delays or difficulties related to the development of our technologies and products; (viii) changes in our interpretations of, and assumptions and calculations with respect to the impact on us of, the 2017 Tax Cuts and Jobs Act, as well as further guidance that may be issued regarding such act; (ix) risks related to the potential impact of new accounting standards on our financial position, results of operations or cash flows; (x) failure to accurately forecast the impact of our restructuring activities on our financial statements and our business; (xi) the resolution of current legal proceedings, including any awards or judgments relating to such proceedings, additional legal or regulatory proceedings, changes in the schedules or costs associated with legal proceedings or adverse rulings in such proceedings; (xii) the timing and impact of potential administrative and legislative matters; (xiii) changes or inaccuracies in market projections; (xiv) our ability to obtain liquidity though debt and equity financings; (xv) the potential effects that the ongoing COVID-19 pandemic and/or general economic or other conditions could have on our financial position, results of operations and cash flows; and (xvi) changes in our business strategy.
We undertake no duty to revise or update publicly any forward-looking statement for any reason, except as otherwise required by law.
Footnotes
1 Throughout this press release, net income and diluted earnings per share (“EPS”) are attributable to InterDigital, Inc. (e.g., after adjustments for non-controlling interests), unless otherwise stated.
2 Adjusted EBITDA is a supplemental non-GAAP financial measure that InterDigital believes provides investors with important insight into the company's ongoing business performance. InterDigital defines Adjusted EBITDA as net income attributable to InterDigital, Inc. plus net loss attributable to non-controlling interest, income tax (provision) benefit, other income (expense) & interest expense, depreciation and amortization, share-based compensation, and other items. Other items may include restructuring costs, impairment charges and other non-recurring items. InterDigital’s computation of Adjusted EBITDA might not be comparable to Adjusted EBITDA reported by other companies. The presentation of Adjusted EBITDA, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. A reconciliation of Adjusted EBITDA to net income attributable to InterDigital, Inc., the most directly comparable GAAP financial measure, is provided below.
3 Free cash flow is a supplemental non-GAAP financial measure that InterDigital believes is helpful in evaluating the company’s ability to invest in its business, make strategic acquisitions and fund share repurchases, among other things. A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in the company’s cash balance for the period. InterDigital defines free cash flow as net cash used in operating activities less purchases of property and equipment and capitalized patent costs. InterDigital’s computation of free cash flow might not be comparable to free cash flow reported by other companies. The presentation of free cash flow, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. A reconciliation of free cash flow to net cash used in operating activities, the most directly comparable GAAP financial measure, is provided below.
SUMMARY CONSOLIDATED STATEMENTS OF INCOME
(in thousands except per share data)
(unaudited)
For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 REVENUES: Recurring revenues: Smartphone$87,467 $84,143 $262,908 $223,701 CE, IoT/Auto 13,579 8,498 36,455 21,951 Other — 747 911 4,467 Total recurring revenues 101,046 93,388 300,274 250,119 Non-recurring revenues 13,718 50,108 40,465 63,475 Total revenues$114,764 $143,496 $340,739 $313,594 OPERATING EXPENSES: Patent administration and licensing 46,720 56,150 134,232 133,694 Development 21,789 22,546 56,487 66,999 Selling, general and administrative 14,418 20,978 34,818 46,994 Restructuring activities — 7,045 3,280 20,290 Total Operating expenses 82,927 106,719 228,817 267,977 Income from operations 31,837 36,777 111,922 45,617 INTEREST EXPENSE (7,659) (5,773) (19,446) (19,429)OTHER INCOME (EXPENSE), NET 912 (1,537) (15,109) 2,226 Income before income taxes 25,090 29,467 77,367 28,414 INCOME TAX PROVISION (3,323) (4,253) (17,312) (6,039)NET INCOME$21,767 $25,214 $60,055 $22,375 Net loss attributable to noncontrolling interest (455) (1,014) (1,230) (11,042)NET INCOME ATTRIBUTABLE TO INTERDIGITAL, INC.$22,222 $26,228 $61,285 $33,417 NET INCOME PER COMMON SHARE — BASIC$0.75 $0.85 $2.03 $1.09 WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — BASIC 29,659 30,737 30,255 30,792 NET INCOME PER COMMON SHARE — DILUTED$0.74 $0.83 $2.00 $1.07 WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — DILUTED 29,940 31,431 30,638 31,272 CASH DIVIDENDS DECLARED PER COMMON SHARE$0.35 $0.35 $1.05 $1.05
SUMMARY CONSOLIDATED CASH FLOWS
(in thousands)
(unaudited)
For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Income before income taxes$25,090 $29,467 $77,367 $28,415 Taxes paid (222) (5,042) (4,585) (9,835)Non-cash expenses 25,243 35,882 90,313 95,272 Change in deferred revenue 274,034 150,703 146,334 64,044 Change in operating working capital, deferred charges and other (342,874) (114,746) (379,898) (118,733)Purchases of property and equipment and capitalized patent costs (9,054) (8,857) (31,139) (30,022)FREE CASH FLOW 3 (27,783) 87,407 (101,608) 29,141 Net proceeds from debt refinancing (796) — 139,193 — Repurchase of common stock — (11,859) (74,445) (23,000)Dividends paid (10,380) (10,794) (31,924) (32,319)Other (552) 708 (7,028) (1,471)NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS$(39,511) $65,462 $(75,812) $(27,649)
SUMMARY CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
SEPTEMBER 30, 2022 DECEMBER 31, 2021ASSETS Cash, cash equivalents and short-term investments$ 863,423 $ 941,627 Accounts receivable, net 403,043 31,113 Prepaid and other current assets 86,028 77,545 Property & equipment and patents, net 373,795 376,962 Other long-term assets, net 201,926 200,909 TOTAL ASSETS$ 1,928,215 $ 1,628,156 LIABILITIES AND SHAREHOLDERS’ EQUITY Accounts payable, accrued liabilities, taxes payable & dividends payable$ 79,480 $ 79,888 Current deferred revenue 210,981 291,673 Long-term deferred revenue 276,589 19,463 Long-term debt & other long-term liabilities 659,370 484,215 TOTAL LIABILITIES 1,226,420 875,239 TOTAL INTERDIGITAL, INC. SHAREHOLDERS' EQUITY 695,775 745,239 Noncontrolling interest 6,020 7,678 TOTAL EQUITY 701,795 752,917 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$ 1,928,215 $ 1,628,156
RECONCILIATION OF NON-GAAP MEASURES
The table below presents a reconciliation of Adjusted EBITDA to net income attributable to InterDigital, Inc., the most directly comparable GAAP financial measure (in thousands):
For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Net income attributable to InterDigital, Inc.$22,222 $26,228 $61,285 $33,417 Net loss attributable to non-controlling interest (455) (1,014) (1,230) (11,042)Income tax provision 3,323 4,253 17,312 6,039 Other income (expense) & interest expense 6,747 7,310 34,555 17,203 Depreciation and amortization 18,713 19,421 59,149 58,971 Share-based compensation 5,846 15,082 15,209 21,010 Other items(a) — 7,045 3,280 22,290 Adjusted EBITDA2$56,396 $78,325 $189,560 $147,888
(a) Other items in the above table includes $7.0 million of restructuring costs during the three months ended September 30, 2021 and restructuring costs of $3.3 million and $20.3 million during the nine months ended September 30, 2022 and 2021, respectively. The nine months ended September 30, 2021 also includes $2.0 million of additional non-recurring personnel-related costs expenses related to new employee agreements.
The table below presents a reconciliation of free cash flow to net cash (used in) provided by operating activities, the most directly comparable GAAP financial measure (in thousands):
For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Net cash (used in) provided by operating activities$(18,729) $96,264 $(70,469) $59,163 Purchases of property and equipment (110) (940) (872) (1,877)Capitalized patent costs (8,944) (7,917) (30,267) (28,145)Free cash flow3$(27,783) $87,407 $(101,608) $29,141
CONTACT:InterDigital, Inc. Email: investor.relations@interdigital.com +1 (302) 300-1857
Paullee - Thank you, sir! EOM
Monterey2000 - I do not know who at InterDigital has the authority to pull the trigger for buying back shares but during the past 60 days they should have loaded the wagon at an average price of $45. JMHO
Bim524 - I keep looking for positive information concerning InterDigital and remain hopeful.
Paullee - thank you and I am encouraged to see 'Joint Motions'.
Paullee - I appreciate your recent post regarding the Lenovo legal situation. EOM
InterDigital Announces Date for Third Quarter 2022 Financial Results
Source: GlobeNewswire Inc.?
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that the company will release its third quarter 2022 financial results before market open on Thursday, November 3, 2022.
InterDigital executives will host a conference call that same day at 10:00 a.m. Eastern Time (ET) to discuss the company's performance.
For a live Internet webcast of the conference call, visit www.interdigital.com and click on the “Webcast” link on the Investors page. The company encourages participants to take advantage of the Internet option.
For telephone access to the conference call, visit www.interdigital.com and click on the “Dial In Registration” link on the Investors page. Registration is necessary to obtain a dial in phone number and PIN to join.
An Internet replay of the conference call will be available on InterDigital’s website under Events in the Investor’s section. The replay will be available for one year.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
investor.relations@interdigital.com
+1 (302) 300-1857
InterDigital inks 7-year, $938M patent deal with Apple
MIKE DANO, Editorial Director, 5G & Mobile Strategies
10/3/2022
Apple plans to spend nearly $1 billion over the next seven years for a license to InterDigital's patents. The move potentially indicates the iPhone maker's continued willingness to engage with the likes of Ericsson and Nokia for similar patent-licensing deals.
"On September 30, 2022, InterDigital, Inc. (the "Company") renewed a patent license agreement with Apple, Inc," InterDigital wrote in a brief SEC filing Monday. "The Company expects to recognize approximately $134 million in revenue each year over the seven-year term of the license, which commenced on October 1, 2022."
InterDigital did not provide additional details. However, the issue had been pressing against the R&D company. InterDigital focuses on developing high-end technologies, including those in the 5G realm, and then earning revenues on its patents through licensing deals.
"Apple has been our licensee since 2007 before the shift of the very first iPhone," InterDigital CEO Liren Chen said in August during his company's most recent quarterly conference call, according to a Seeking Alpha transcript. "So, such a long-term relationship here there has been multiple renewals happening. We feel confident about the current negotiation based on how much our technology has advanced; frankly, they have become even more important with the connected world with a lot of market video content being consumed on the device."
He also pointed out that InterDigital's deal with Samsung – the world's other big smartphone maker – is also up for renewal in the fourth quarter of this year.
"It's worth noting that both Apple and Samsung has a much higher concentration of the premium devices in their worldwide sales. So these devices will make more and better use of our high-end technology," InterDigital's Chen suggested.
InterDigital's stock was up slightly Monday to around $47 per share following its announcement with Apple.
Into the future
It's unclear how InterDigital's deal with Apple might affect the iPhone maker's ongoing negotiations with Ericsson. The two are almost a year into a new patent-licensing battle wherein Ericsson is working to derive higher patent-licensing revenues from Apple via its 5G patent holdings.
And Ericsson appears to be firming up its position against Apple. Late last month, the United States International Trade Commission (ITC) issued a new order that puts Ericsson "in great shape," according to Florian Mueller, an intellectual property expert who maintains the Foss Patents website.
Mueller argued that, at this stage, Apple is facing some serious legal setbacks, and it's possible that the iPhone vendor will reach some kind of cross-licensing patent agreement with Ericsson before the December start of a trial on the topic.
Mueller has also speculated that Apple may soon need to ink a new deal with Nokia for 5G patents also. Nokia, for its part, is working to assert its 5G patents against a range of smartphone makers. In that effort, the company recently managed to convince a German court to ban the sale of Oppo smartphones in that country in order to force Oppo to the negotiating table.
https://www.lightreading.com/5g/interdigital-inks-7-year-$938m-patent-deal-with-apple/d/d-id/780810
bim524 - I may very well be wrong but my understanding of a fixed fee license takes into account both the inclusion of 5G and the future volume of units sold during the license time period.
bim524 - Adding 5G to the Apple license increases the fixed fee by 20%. The situation with Samsung should be the same which I anticipate to be another $14 mil annually.
Lenovo needs to be resolved with a 5G license plus recognition for past royalty catch up. I anticipate (hope) that this is completed prior to year end 2022. JMHO
Off topic??? - Apple loses second bid to challenge Qualcomm patents at U.S. Supreme Court
By: Blake Brittain | October 3, 2022
WASHINGTON - The U.S. Supreme Court on Monday again declined to hear Apple Inc (NASDAQ:AAPL)'s bid to revive an effort to cancel three Qualcomm (NASDAQ:QCOM) Inc smartphone patents despite the settlement of the underlying dispute between the two tech giants.
The justices left in place a lower court's decision against Apple after similarly turning away in June the company's appeal of a lower court ruling in a closely related case challenging two other Qualcomm patents.
Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of mobile-technology patents. That case was part of a broader global dispute between the tech giants.
Apple challenged the validity of the patents at issue in this case at the U.S. Patent and Trademark Office's Patent Trial and Appeal Board.
The companies settled their underlying fight in 2019, signing an agreement worth billions of dollars that let Apple continue using Qualcomm chips in iPhones. The settlement included an Apple license to thousands of Qualcomm patents, but allowed the patent-board proceedings to continue.
The board upheld the patents in 2020, and Apple appealed to the patent-specialist U.S. Court of Appeals for the Federal Circuit. Cupertino, California-based Apple argued it had proper legal standing to appeal because San Diego-based Qualcomm could sue again after the license expires, potentially as soon as 2025.
A Federal Circuit three-judge panel, in a 2-1 ruling, dismissed the case last year for a lack of standing, finding that Apple's risk of being sued again was speculative and the challenge would not affect its payment obligations under the settlement.
Qualcomm has again argued that Apple has not shown a concrete injury to justify the appeal, just like in the "materially identical" case that the high court rejected.
Item 8.01.
Other Events.
On September 30, 2022, InterDigital, Inc. (the “Company”) renewed a patent license agreement with Apple, Inc. The Company expects to recognize approximately $134 million in revenue each year over the seven-year term of the license, which commenced on October 1, 2022.
Paullee - Thanks for posting. EOM
InterDigital Board of Directors Declares Regular Quarterly Cash Dividend
Source: GlobeNewswire Inc.
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.35 per share on its common stock, payable on October 26, 2022, to shareholders of record at the close of business on October 12, 2022.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
investor.relations@interdigital.com
+1 (302) 300-1857
Monterey2000 - Good post and I believe each of your observations are correct. I would add the following:
* Today's number of outstanding shares has never been this low at 29.66 million
* Institutional stock ownership has never been this high at 89.31%
* Short Interest has more than doubled during the past 4 months going from 1.06 million at the end of April to 2.41 million by mid August
Taking these statistics into consideration, if an institution needs to make an investment change to accommodate cash withdrawals or investment allocation concerns, the price of IDCC will change much more rapidly than it has in the past. JMHO
Reply to:
...........
??
August 2, 2022
United States Securities and Exchange Commission
Division of Corporation Finance
Office of Real Estate & Construction
100 F Street, N.E.
Washington, DC 20549
Attention: Frank Knapp
Re:
InterDigital, Inc.
Form 10-K for the Fiscal Year Ended December 31, 2021
Filed February 17, 2022
File No. 001-33579
Dear Mr. Knapp:
This letter responds to a letter from the staff of the Division of Corporation Finance (the “Staff”) of the U.S. Securities and Exchange Commission dated July 20, 2022, concerning the InterDigital, Inc. (“InterDigital” or the “Company”) Form 10-K for the fiscal year ended December 31, 2021 filed February 17, 2022. For the convenience of the Staff, we have repeated the Staff’s comment below in bold text and followed it with the Company’s response.
Form 10-K for the Fiscal Year Ended December 31, 2021
Notes to Consolidated Financial Statements
2. Summary of Accounting Policies and New Accounting Guidance
Compensation Programs, page 65
1.
Please tell us how you considered the guidance in SAB Topic No. 14.D.2 Question 6 in your determination to use the simplified method rather than historical exercise data to estimate the expected term of stock options. In addition, please tell us what consideration you gave to enhancing your footnote to disclose why the simplified method was used.
Response:
The Company advises the Staff that it has determined that it is appropriate to use the simplified method to estimate the expected term of the option awards because the Company has concluded that it does not have sufficient historical option exercise data for the very limited subset of employees receiving stock option grants to provide a reasonable basis on which to estimate the expected term of its options.
InterDigital | 200 Bellevue Parkway, Suite 300 | Wilmington, DE 19809 | USA | T: +1 302.281.3600 | F: +1 302.281.3763
InterDigital began to issue stock option awards to a limited subset of its employee base (i.e. less than ten employees) in January 2013, after having not issued stock options in over seven years. The Company’s prior grants of stock options were to a much broader population (i.e. most levels of the organization) and typically had a contractual term of ten years. The new grants beginning in 2013 generally had a seven-year contractual period and were initially limited to the executive team only (i.e. less than ten employees). For the last five years, options grants have been further limited to an even smaller subset, with a maximum of one to three executives per year receiving grants. The stock options granted have been “plain vanilla” as described within SAB Topic No. 14.D.2 Question 6. For these reasons, we do not believe our historical exercise patterns provide a reasonable basis to estimate the term of these grants to executives.
Provided that we continue to grant options on a very limited basis, we will enhance our disclosure for future periods as follows:
For stock options considered to be “plain vanilla” options, the Company estimates the expected term based on the simplified method as The expected life of our stock option awards is based on the simplified method as prescribed by Staff Accounting Bulletin Topic 14. The simplified method was used because the Company does not believe it has sufficient historical exercise data to provide a reasonable basis for the expected term of its grants.
Should you have any questions regarding foregoing matters or wish to discuss further the response above, you may contact me at (302) 281-3621.
Very truly yours,
/s/ Richard J. Brezski
Richard J. Brezski
EVP, Chief Financial Officer
InterDigital | 200 Bellevue Parkway, Suite 300 | Wilmington, DE 19809 | USA | T: +1 302.281.3600 | F: +1 302.281.3763
Any observations?
..............
United States securities and exchange commission logo July 20, 2022 Richard J. Brezski Chief Financial Officer InterDigital, Inc. 200 Bellevue Parkway, Suite 300 Wilmington, DE 19809 Re: InterDigital, Inc. Form 10-K for the Fiscal Year Ended December 31, 2021 Filed February 17, 2022 File No. 001-33579 Dear Richard J. Brezski: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to the comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to the comment, we may have additional comments. Form 10-K for the Fiscal Year Ended December 31, 2021 Notes to Consolidated Financial Statements 2. Summary of Significant Accounting Policies and New Accounting Guidance Compensation Programs, page 65 1. Please tell us how you considered the guidance in SAB Topic No. 14.D.2 Question 6 in your determination to use the simplified method rather than historical exercise data to estimate the expected term of stock options. In addition, please tell us what consideration you gave to enhancing your footnote to disclose why the simplified method was used. Richard J. Brezski InterDigital, Inc. July 20, 2022 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Frank Knapp, Staff Accountant at (202) 551-3805 or Jennifer Monick, Assistant Chief Accountant at (202) 551-3295 with any questions. FirstName LastNameRichard J. Brezski Sincerely, Comapany NameInterDigital, Inc. Division of Corporation Finance July 20, 2022 Page 2 Office of Real Estate & Construction FirstName LastName
Any guesses about which Chinese company this new license agreement is with or in what products this Sequans chip is in? Thanks in advance.
Advanced HDR by Technicolor and the Future of TV
Advanced HDR by Technicolor and the Future of TV
AUGUST 24, 2022 / POSTED BY: INTERDIGITAL COMMS
From conversation with InterDigital Vice President of Technology Alan Stein
The evolution of television has been fostered by innovations that fundamentally enhance the visual impact of our viewing experiences. A ground-breaking innovation in television evolution was sparked by the introduction of high dynamic range (HDR) production and display solutions that enhance the viewing experience with crisper content and more vibrant colors on high-definition televisions. Alongside complementary innovations across the video ecosystem, InterDigital is a leading contributor to an award-winning suite of HDR technology solutions that are today unlocking new opportunities for the video ecosystem.
Looking Backwards
But first, a look back at history.
The earliest television content was exclusively broadcast in black-and-white after television sets gained widespread adoption in the 1940s following WWII. After the introduction of the color television in the 1960s, television manufacturers had to accommodate state-of-the-art color television broadcasts on both color-capable televisions, as well as on older, black-and-white televisions. It was imperative to create a solution that ensured broadcasts designed for color-capable televisions could also be decoded and applied “backwards” to display a comparable quality picture on black-and-white displays.
The concept of “backwards compatibility” has fueled innovation in the video ecosystem by offering solutions that support the highest quality of content while also optimizing broadcasts to older versions of devices and capabilities. Fast forward to today, and the latest innovations in television are still being bolstered by backwards-compatible technology techniques to foster the highest quality broadcast regardless of display type.
In fact, contributions made by InterDigital and industry partners Philips and Technicolor to the award-winning Advanced HDR by Technicolor* solutions have helped democratize device access to some of the highest quality, most visually enhanced content. As audiences begin to demand and consume more high-definition content, InterDigital’s Advanced HDR contributions ensure that consumers who receive HDR content on a standard-dynamic range (SDR) device, or even SDR content received on an HDR device, can enjoy the highest-quality visual experience.
What is Advanced HDR by Technicolor?
A suite of HDR production, distribution, and display solutions developed through the research and technology contributions of InterDigital and Philips, Advanced HDR by Technicolor fundamentally enhances the image quality and the viewing experience for both HDR and SDR video content. A valuable television technology, our state-of-the-art solutions can format both SDR and HDR content without compromising the viewing experience of each unique display, regardless of device capability.
In production, HDR depends on the type of content being watched, whether live or pre-broadcast, produced in a studio or outdoors. In a live sports context, producers are primarily concerned with ensuring lighting levels are consistent, so they do not distract from the viewing experience, whether on an HDR or SDR television. As such, our HDR solutions may be leveraged for live broadcasts of outdoor sports, as it uses machine learning to mitigate dynamic changes in natural light and to deliver high quality images for live events in real time.
In fact, the solutions provided by Advanced HDR by Technicolor were recently adopted by Sinclair Broadcasting Group, a media conglomerate owning TV stations in more than 100 U.S. markets, with critical coverage of live news, sports, and more. By incorporating our HDR solutions within their broadcasts, a Sinclair station may use the ATSC 3.0 standard to deliver HDR and high-definition content to all viewers, but a local subscriber with an SDR television can still receive the HDR content optimized for their SDR device. Regardless of the caliber of the viewing device, the solutions we provide through Advanced HDR by Technicolor ensure the viewing experience is optimized.
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Alternatively, cinematic productions pose different challenges than live broadcasts. In situations where a cinematographer is involved, artistic decisions around light and color are more easily controlled, with some scenes presenting more brightly lit scenes while others are saturated with dark colors and lower intensity light.
?An example of the importance of HDR technology solutions was revealed during a climactic battle scene in Season 8 of HBO’s Game of Thrones. Specifically, show producers were criticized for the very low levels of ambient light during what was heralded as the longest battle sequence ever filmed in cinematic history, “The Battle of Winterfell”. Viewers of the episode largely complained that critical scenes were dark and unclear, with show producers suggesting that the culprit could be improperly configured display devices, streaming from a lower bitrate source, or a combination of these factors. From another perspective, the show directors also claimed that the darkness of the episode was artistically enhanced to convey the horror and confusion of war, but the intended artistic effect likely did not arrive to viewers without properly-configured HDR technology and devices.
Most televisions are factory-configured to showcase the best display in a brightly lit showroom, but most television buyers don’t adjust or optimize their television settings for typical viewing in a darker living room after installation. In the example from Game of Thrones, many of the televisions and devices used to watch the episode were not configured to showcase the dark and shadowy tones of the battle scenes as the show creators intended.
Content is a critical component of the video ecosystem, and as consumers begin to expect more immersive video, the ability to preserve a content creator's original intent in SDR, while also delivering high-quality HDR content, helps democratize access to immersive viewing experiences. InterDigital’s contributions to Advanced HDR by Technicolor offer critical solutions to optimize content delivery for both HDR and SDR devices, while preserving the creative intent of the content creator.
What’s Next?
Like many groundbreaking innovations, HDR is challenged with the chicken-or-the-egg approach to adoption of this new technology and its enabled content. Interested audiences may be wary to purchase HDR televisions until there is a greater amount of HDR content to consume, while broadcasters are apprehensive to publish HDR content if more consumers do not have the appropriate devices on which to enjoy them. Critically, our HDR solutions help to accommodate both SDR and HDR device types while seeding the ground to support the crisper, more immersive HDR content that audiences desire as more consumers transition from SDR to HDR devices.
As we innovate towards the future, newer platforms and greater diversity in device types will emerge. Our contributions to the solutions provided by Advanced HDR by Technicolor provide a critical ingredient to deliver the best television viewing experience, regardless of circumstance.
*Advanced HDR by Technicolor is a trademark owned by Technicolor and licensed to Philips
Amazon launches AWS Private 5G so companies can build their own 4G mobile networks
Paul Sawers@psawers / 7:05 AM EDT•August 12, 2022
Amazon’s cash-cow cloud division AWS has launched a new service designed to help companies deploy their own private 5G networks — eventually, at least.
AWS first announced AWS Private 5G in early preview late last year, but it’s now officially available to AWS customers starting in its U.S. East (Ohio), U.S. East (N. Virginia), and U.S. West (Oregon) regions, with plans to roll it out internationally “in the near future.”
But — and this is a big “but” — despite its name, AWS Private 5G currently only supports 4G LTE.
“It supports 4G LTE today, and will support 5G in the future, both of which give you a consistent, predictable level of throughput with ultra low latency,” AWS chief evangelist Jeff Barr wrote in a blog post.
With AWS Private 5G, companies order the hardware (a radio unit) and a bunch of special SIM cards directly from AWS, and AWS then provides all the necessary software and APIs (application programming interfaces) to enable businesses to set up their own private mobile network on-site. This incorporates the AWS Management Console, through which users specify where they want to build their network and their required capacity, with AWS automating the network setup and deployment once the customer has activated their small-cell radio units.
Crucially, the AWS-managed network infrastructure plays nicely with other AWS services, including its Identity and Access Management (IAM) offering which enables IT to control who and what devices can access the private network. AWS Private 5G also channels into Amazon’s CloudWatch observability service, which provides insights into the network’s health among other useful data points.
In terms of costs, AWS charges $10 per hour for each radio unit it installs, with each radio supporting speeds of 150 Mbps across up to 100 SIMs (i.e. individual devices). On top of that, AWS will bill for all data that transfers outwards to the internet, charged at Amazon’s usual EC2 (Elastic Compute Cloud) rates.
So in effect, Amazon is promising industries — such as smart factories or other locations (remote or otherwise) with high-bandwidth requirements — instant, localized 5G, while shoehorning them onto its sticky cloud infrastructure where the usual fees apply.
Public vs private
It’s clear that 5G has the potential to transform many industries, and will be the bedrock of everything from robotics and self-driving cars, to virtual reality and beyond. But public 5G networks, which is what most consumers with 5G-enabled devices currently rely on, have limited coverage and the bandwidth may be shared by million of users. On top of that, companies have little control over the network, even if their premises are within range of the network. And that is why private 5G networks are an appealing proposition, particularly for enterprises with mission-critical applications that demand low-latency data transfers round-the-clock.
AWS Private 5G uses Citizen Broadband Radio Service (CBRS), a shared 3.5 GHz wireless spectrum that the Federal Communications Commission (FCC) authorized in early 2020 for use in commercial environments, as it had previously been reserved for the Department of Defense (DoD). So this update essentially opened CBRS to myriad use-cases, including businesses looking to build new 5G services, or extend existing 4G/LTE services.
At the same time, the FCC announced key Spectrum Access System (SAS) administrators who would be authorized to manage wireless communications in the CBRS band, a process effectively designed to protect “high priority” users (e.g. the DoD) from interference. Any device connecting to the CBRS spectrum needs authorization from a SAS administrator, which today includes Google, Sony, CommScope, Federated Wireless, Key Bridge Wireless, and Amdocs.
And this is a key component of the new AWS Private 5G service — it’s fully-integrated into the SAS administration process, with AWS managing everything on behalf of the customer, including taking on responsibility for interference issues among other troubleshooting tidbits relating to spectrum access.
So Amazon’s new private 5G offering is perhaps something of a misnomer as it stands today, insofar as it currently only supports 4G LTE. But the OnGo Alliance (then called the CBRS Alliance) completed its 5G specs for CBRS more than two years ago now, and the intervening months have been about setting the foundation to enable fully commercial 5G services — just yesterday, Samsung Electronics America announced a partnership with Kajeet to deploy a new private 5G network on CBRS.
But while “AWS Private 5G” is a nod to what it’s built to support in the future, the current branding may cause some consternation among interested parties seeking local 5G deployments today.
https://techcrunch.com/2022/08/12/amazon-launches-aws-private-5g-so-companies-can-build-their-own-on-site-mobile-networks/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuMXN0aGVhZGxpbmVzLmNvbS8&guce_referrer_sig=AQAAAD22vgEx8OrcizvHtGXPbX7wfCx0xvLA1mXsYWSP64QvyLbnMyc8x9WyEcRN3t-1dCEjJ4OUAyS11xApGdkCpE6nG9ayx5rZxogjXvnymeXYYEpsnA8179tpD4Ffq4i2ABMjcicDow3mPSnwBFCl-fmbGJPxIhHqzNImmg1KTtaH
IDCC new 52 week low. EOM
Monterey2000 - I agree that Technicolor must be the source. Appreciate your thoughts concerning this.
This may have already been posted:
<iframe width="640" height="360" scrolling="no" frameborder="0" style="border: none;" src="https://www.bitchute.com/embed/ze1Ycyy59Ibs/"></iframe>
I noticed that B of A was involved in the renewal of the convertible bond issue earlier this year. I am guessing that part of that discussion was for B of A to begin coverage of IDCC common stock. B of A looked at their stable of analysts and thought that Tal Liani was best positioned to assign IDCC coverage because he had been covering QCOM. He should have taken that assignment seriously. JMHO
Today's 10 Q, page 10:
First six months of 2022
Non-cash acquisition of patents $30,100,000
Any thoughts? From who? What patent family?
Amazon guess: drone delivery system
Monterey2000 - I agree with you about the lack of understanding that the B of A analysts had prior to being on this conference call was glaring! I also want to note that both Liren and Rich were most kind in their replies to them. B of A coverage could be very beneficial to IDCC in the future if their analysts would do just a little bit of homework.
If B of A likes what they see in tomorrow's press release, they should at least enhance their rating of IDCC's stock above "under preform" with a new "target price". Either that or discontinue coverage.
Hope that this link works:
Simply Wall St: These 4 Measures Indicate That InterDigital (NASDAQ:IDCC) Is Using Debt Safely.
https://simplywall.st/stocks/us/software/nasdaq-idcc/interdigital/news/these-4-measures-indicate-that-interdigital-nasdaqidcc-is-us
Item 4.01 Changes in Registrant’s Certifying Accountant.
Effective February 1, 2022, BIO-key International Inc’s (the “Company”) independent registered public accounting firm, Rotenberg Meril Solomon Bertiger & Guttilla, P.C. Certified Public Accountants (“Rotenberg”), combined with Marcum LLP. Rotenberg continued to operate as an independent registered public accounting firm as a wholly-owned subsidiary of Marcum LLP.
Rotenberg continued to serve as the Company’s independent registered public accounting firm through the filing of the Company’s Report on Form 10-Q for the quarter ended March 31, 2022. On July 20, 2022, the Audit Committee of BIO-key approved the engagement of Marcum LLP to serve as the independent registered public accounting firm of the Company for the year ended December 31, 2022.
During the two years ended December 31, 2021 and through the date of this report, the Company did not consult Marcum LLP with respect to any of (i) the application of accounting principles to a specified transaction, either completed or proposed; (ii) the type of audit opinion that might be rendered on the Company’s financial statements; or (iii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K) or an event of the type described in Item 304(a)(1)(v) of Regulation S-K.
Rotenberg’s transition into Marcum has progressed and Rotenberg has formally resigned on July 20, 2022, as our independent registered public accounting firm and the services previously provided by Rotenberg will now be provided by Marcum LLP.
Rotenberg’s report on our financial statements for the fiscal years ended December 31, 2021, and 2020 did not contain an adverse opinion or a disclaimer of opinion, nor was it qualified or modified as to audit scope or accounting principles.
During the years ended December 31, 2021 and 2020 and the subsequent interim period through the quarter ended March 31, 2022 (i) we did not have any disagreements with Rotenberg on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to Rotenberg’s satisfaction, would have caused them to make reference thereto in their reports on the Company’s financial statements for such periods, and (ii) there were no reportable events, as defined in Item 304(a)(1)(v) of Regulation S-K.