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InterDigital ( NASDAQ: IDCC ) has reported prelim Q4 results.
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The company expects Q4 total revenue to be ~$114M, including recurring revenue of $101 million from the company's prior expectation of $98M to $102M vs consensus of $102.55M .
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It was driven primarily by new agreements signed in the second half of the quarter.
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Q4 operating expenses to be ~$79M, updated from its previous expectation of $76M to $79M.
- The company expects net non-operating income will be ~$1M, from its previous expectation of net non-operating expense of $4M to $6M. The increase in the company’s expectation was driven by higher interest income, as well as foreign currency gains.
- Net income is expected to be ~$28M, or $0.93 per diluted share vs consensus of $0.74 .
- Adjusted EBITDA is expected to be ~$60 million.
- Cash and cash equivalents, restricted cash and short-term investments are expected to total $1.2B as of December 31, 2022, and include ~$400M of customer receipts during 4Q22.
For further details see:
InterDigital gains on raising Q4 guidance