InterDigital, Inc. (NASDAQ:IDCC) Q4 2022 Results Conference Call February 15, 2023 10:00 AM ET
Company Participants
Richard Lloyd - Communications Director
Liren Chen - President, CEO and Director
Rich Brezski - Executive VP, CFO and Treasurer
Conference Call Participants
Scott Searle - ROTH
onathan Eisenson - Bank of America
Anja Soderstrom - Sidoti
Alessandra Vecchi - William Blair
Operator
Good day, and thank you for standing by. Welcome to the Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in al listen-only mode. After the speakers presentation, there will be a question and answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker for today, Richard Lloyd. Please go ahead. The floor is yours.
Richard Lloyd
Good morning to everyone, and welcome to InterDigital's fourth quarter 2022 earnings conference call. I am Richard Lloyd, Communications Director. And with me in today's call are Liren Chen, our President and CEO; and Rich Brezski, our CFO. Consistent with last quarter's call, we will offer some highlights about the quarter and the company and then open the call up for questions.
Before we begin our remarks, I need to remind you that in this call, we will make forward-looking statements regarding our current beliefs, plans and expectations which are not guarantees of future performance and are made only as of the date hereof. Forward-looking statements are subject to risks and uncertainties that could cause actual results and events to differ materially from results and events contemplated by such forward-looking statements. These risks and uncertainties include those described in the Risk Factors sections of our 2022 Annual Report on Form 10-K and in our other SEC filings.
In addition, today's presentation may contain references to non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in our financial metrics tracker, which is available on the Investor Relations section of our website.
With that taken care of, I will turn the call over to Liren.
Liren Chen
Thank you, Richard, and good morning, everyone. Thank you for joining us today. 2022 was an excellent year for InterDigital with continued success in our core smartphone licensing program and record-setting performance in our CE and IoT, including Auto licensing programs. We increased recurring revenue to a record level, significantly increased our net income year-over-year, and we believe put the company in its strongest position ever to deliver future business growth.