InterDigital Inc (IDCC)

[LTE]

<<Moreover, IDCC also expects recurring revenue to increase throughout 2024. It has guided for a total revenue for the fiscal year between 620 and 670 million dollars. Excluding Samsung's catch-up payment, that leaves us with 460-510 million dollars in revenue. If that number includes another $50M in catch-up payments, which was the total for fiscal year 2022, recurring revenue is guided to be 410M-460M dollars. This equals a guided expected increase of 1-10% this year (and IDCC tends to beat, or at least meet the upper end of its guidance ranges).>>
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Gamco, thanks - that looks like a good analysis - sometimes Seeking Alpha can
be lame. It looks consistent with this from the earnings call transcript:

<< For fiscal year 2024, we have guided to total revenue in the range of $620 million to $670 million. We expect an adjusted even on margin of roughly 50% due to the revenue share associated with large catch-up revenue from recent CE licenses. With that, we expect non-GAAP diluted earnings per share of $7.45 to $8.76.

Longer term, our goal remains to achieve and sustain a 60% adjusted EBITDA margin on $650 million of annual recurring revenue from device licenses with upside from the greenfield opportunity in video streaming and cloud services.>>

<<With all that we accomplished in 2023, the most important thing is that we built on our strong foundation and have carried that momentum into 2024. The Samsung TV agreement Liren discussed is a significant step toward reaching our goals in CE and IoT. On the strength of the Samsung TV deal, we expect Q1 revenue will be in the range of $245 million to $255 million. This includes $152 million to
$160 million of catch-up sales, and almost $22 million of recurring revenue, or more than $85 million on an annualized basis from CE and IoT.>>

https://s25.q4cdn.com/626766191/files/doc_downloads/2024/02/2024-feb-15-idcc-oq-transcript-v2.pdf