InterDigital Inc (IDCC)

[Monterey2000]

Here is Brezski's comments alluding to the large payment in his opening statement.

Adjusted EBITDA adjust for the timing of payments and better depicts the ongoing cash generation power of the business. For example, you can see our accounts receivable increased to over $400 million at the end of Q3 due to the partly frontloaded payment structure of one of our recent agreements. We expect the collection of this receivable in the fourth quarter will drive record free cash flows in the quarter, but will be moderated in our fourth quarter adjusted EBITDA.

IDCC 2022 3rd QtrTranscript