- InterDigital press release ( NASDAQ: IDCC ): Q4 GAAP EPS of $1.08 beats by $0.16 .
- Revenue of $117.1M (+4.7% Y/Y) beats by $3.17M .
- Recurring revenue was $103.6 million and increased 2%.
- Operating expenses were $78.5 million and decreased 9%. The decrease was primarily driven by a reduction of non-recurring costs from restructuring activities.
- Adjusted EBITDA 2 was $64.9 million and increased 8%.
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The company expects recurring revenue for first quarter 2023 will be between $94 and $98 million. This range covers existing agreements and includes a conservative estimate that the company will recognize under its binding arbitration agreement with Samsung. It does not include the potential impact of any new agreements that may be signed during the balance of first quarter 2023.
The company expects first quarter 2023 operating expenses will be in the range of $75 to $79 million. In addition, the company expects non-operating expenses, comprised of interest expense and other income (expense), will be in the range of $1 to $3 million and the effective tax rate will be approximately 25%.
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InterDigital GAAP EPS of $1.08 beats by $0.16, revenue of $117.1M beats by $3.17M