InterDigital, Inc. (NASDAQ:IDCC) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

Raiford Garrabrant - Head, Investor Relations
Liren Chen - President & Chief Executive Officer
Rich Brezski - Chief Financial Officer

Conference Call Participants

Arjun Bhatia - William Blair
Anja Soderstrom - Sidoti

Operator

Good day everyone and thank you for standing by. Welcome to InterDigital Second Quarter 2024 Earnings 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] Today's conference is being recorded.

I will hand the call over to the Head of Investor Relations, Raiford Garrabrant. Please go ahead.

Raiford Garrabrant

Thank you, Carmen. Good morning to everyone and welcome to InterDigital's second quarter 2024 earnings conference call. I'm 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 calls, we will offer some highlights about the quarter and the company and then open the call up 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 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. I'm pleased to share that we have delivered Q2 results at $223 million that far exceeds the top end of our guidance for the quarter, a record first half revenue of $487 million and we have raised our 2024 full year revenue guidance by $70 million to a new range of $690 million to $740 million as a result of the continued positive momentum in the business.