InterDigital Inc. (NASDAQ:IDCC) Q4 2023 Earnings Call Transcript February 15, 2024 10:00 AM ET

Company Participants

Raiford Garrabrant - Head of Investor Relations

Liren Chen - President and CEO

Richard Brezski - Executive VP, CFO & Treasurer

Conference Call Participants

Scott Searle - ROTH MKM

Jonathan Eisenson - of Bank of America

Anja Soderstrom - Sidoti

Chris Madison - William Blair

Operator

Good day, and thank you for standing by. Welcome to the InterDigital Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a 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 turn the conference over today to your speaker, Raiford Garrabrant. Please go ahead.

Raiford Garrabrant

Good morning to everyone, and welcome to InterDigital's fourth quarter 2023 earnings conference call. I am Raiford Garrabrant, Head of Investor Relations for InterDigital. With me on today's call are Liren Chen, our President and CEO; and Rich Brezski, our CFO. Consistent with prior year-end calls, we will offer some highlights about Q4 and fiscal year 2023 before opening up the call for questions. For additional details, you can access our earnings release and slide presentation that accompany this call on our Investor Relations website.

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 2023 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 the supplemental materials posted to the Investor Relations section of our website.

With that taken care of, I will turn the call over to Liren.

Liren Chen

Thank you, Raiford. Good morning, everyone. Thanks for joining us today. 2023 was another outstanding year for InterDigital. We made excellent progress across our business as we signed new agreement and our smartphone and our consumer electronics and IT programs significantly increased our revenue and net income year-over-year, strengthened our innovation engine with a record number of new patent filings and return more capital to shareholders. Today, we will summarize our progress in Q4 our achievements throughout 2023 and why we feel we are really well positioned for further growth in 2024 and beyond.