InterDigital, Inc. (NASDAQ:IDCC) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET

Company Participants

Richard Lloyd - Communications Director

Liren Chen - President and Chief Executive Officer

Richard Brezski - Chief Financial Officer

Conference Call Participants

Scott Searle - ROTH Capital Partners, LLC

Anja Soderstrom - Sidoti & Company, LLC

Operator

Please stand by. Good day and welcome to the InterDigital, Inc., First Quarter 2022 Earnings Call. Today’s conference is being recorded. At this time, I’d like to turn the conference over to Mr. Richard Lloyd. Please go ahead, sir.

Richard Lloyd

Good morning to everyone, and welcome to InterDigital’s first 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 section of our 2021 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 measures, 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

Thanks, Richard. This was another strong quarter underlying our success in converting our current [ph] technology footprint into a strong recurring revenue base and in managing our cost base in a disciplined manner. [From our highlight numbers] [ph], total revenue increased by 23% year-over-year to $101.3 million, while net income increased to $18 million, up more than 3 times from $5.6 million in the first quarter of last year. Rich will provide more details in his section.

Through the course of this quarter, we demonstrated our strength was a leading technology innovator in wireless and video expanded our patent portfolio, so several of our engineers upon into leadership position within standard and the industry bodies, and once again, added to this our 5G licensees.