IDCC - Earnings call transcript Q4 2020

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Tiziana Figliolia

Good morning and welcome to InterDigital's Earnings Conference Call for Fourth Quarter and Full Year 2020. I am Tiziana Figliolia, Vice President of Finance and Investor Relations. And with me in today's meeting are Bill Merritt, 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 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. and include annual forth for with report ended XX, uncertainties release our the the and time December our to Commission. and on XXXX, Securities risks and those other in set earnings year in Exchange These our time filings from Form XX-K new as a are any future obligation hereof, to information, or the revise and result we except These forward-looking of law, no statements as them, undertake as whether of of made only otherwise. or date required by events update

to addition, presentation measures. financial link XXXX comparable the clicking in section website which financial and the In today's to says, included QX, the may non-GAAP quarter directly that investor Reconciliations be measures contain metrics financial most our tracker, GAAP home references going can are of the Metrics third on XXXX. accessed Tracker non-GAAP financial measures Financial for page, of by these our to www.interdigital.com,

are on I pandemic the during I'll with Finally, to of, a just option. technical we a the With ask care there over be the call callback call still separate taken that issue call, exercise everyone turn the Bill. participants locations. If while is patient, will this to all concern, in

Bill Merritt

times. good difficult and I call joining us hope this And of morning on Tiziana you, these thank all Thank are the calls past morning. everyone. to you well. standing in for Similar you to

signed quarter announce the frankly boxes, a crisis. issued release COVID our have license a morning, a pleased through managing and with other manufacturer press company consumer while quarter also both year of way Humax, the on I'm South we agreement electronics. this in saw top of you DVRs Korean to fantastic an delivered first As excellent XXXX set and the that the

progress to continues business earnings our electronics QX This nicely. consumer our call. is So

and proxy, set playing in for and about So of to a ourselves get they were objectives innovate, a terms we while about deals in more to the signed nutshell, read XXXX. down best exceed managing of talent specifically our XXXX revenue, our about the then the pandemic. and through let to evolution COVID the revenue XXXX hit, since to renewal year field revenue recap them our our also the to but closer way company talk including and drive deals the XX the organization, And the positive goals On me processes. continue generation, then in was we year XXXX continue our Huawei. of get some the the goals in for And nonetheless you'll of and the of other deliver reflection instances deliver in strength company on able in completion,

are to also with in that position deals field We down us negotiations positioning mature number are XXXX close. and renewed the the of significantly

also commenced believe against we companies litigation negotiations was litigation mature where where We other and had appropriate. not

great result more the and engaging other standards and advanced contributions great known licensing demonstrated the improved contribute On our engineers another working our continue transition year themselves as our In pretty addition for. the the across to And collaborating because teams of to and was were R&D well seamless remote is mean dramatically that a and in transparency standout environment. equipped and rate enough, to despite platforms. innovation, thought as and change we our be efforts innovation legal scientists organizations, thinking leading remotely. already structure patents. environment to we and working regulatory remotely team drove standards innovation, research some provide to the in licensing work the by our Oddly was zoom versed industry, company's company BlueJeans, the via into leader industry I to already a the we the sites, is cases, had and

the And much leader we've the technologies have On that world that video make into opportunity outsized as groundbreaking organization in how making company of model In our and the inventing updated some how on we and challenging much for unique attractive a demonstrating all. to mission we how we and have key and small the believe and are thought space talent life which the wireless and be. is these the the InterDigital ways process legislation enjoyable licensing, that got combination and about the We drive new our of we to of people invent an side, people working. ourselves the technology company boundless. relatively the the opportunity for a when innovation of to at and company, captured innovation, driving the intellectually of business work be learned can to fantastic available

We and have world's helped what remove to the untangle constraints from of the knowledge, geography music beauty world wires, anywhere. bring friendship, do. to of the joys We're of really and we proud anyone

as responded in to the roll ready goals having of pandemic, even and and we proud several stronger live XXXX on the to very team also year. a key We for

growth. The continued be first will revenue

we the I field need to XXXX. deal mentioned down earlier, in As

the electronics drive just time led Humax. and deals comment it's with on while we kind, is objective side, say licensing goal the leads the And to Now did as our wireless on always it's to neatly leads, what qualified team. consumer when both Humax, to and push line by difficult them over to

of of the box or sales, of right, the completing terms us notable do box those five the in in deal agreement. top For market, manufacturer a about six its follow with is number set completion this worldwide own world not also Humax who setup them is in the

be goals areas program. agreement, patents set with we our the in non specifically then plan. would three we in be key signed have completion benchmark only. Those to three have confident we this represents. we consumer [Indiscernible] digital Humax around along the the consumer business deal now another deals of And boxes electronics in top latest deals continue TVs one revenue licensing with for since have electronics agreements the of set the These the for With with third HEVC reaching concluded acquired Technicolor, we HEVC

and objectives, XG measured by XXXX leadership. a to Part research adapting inventing flexible network continue web that video to solutions will faster, and be drive standards, to be wireless This Moving our way. we in less variety worldwide protecting patent team more Of we the thought be will other from processing that to missions of to using certainly will to reactive to of in on and billions only handle excel. XG. will are faster And innovation important we other dramatically power, compute a The to that and social more creating be use types of good at has many will talking but environmental, the on be machine really our drive to also contribution its cars. to our innovation and wide higher XG's historically publications lead a self-driving filings, We to make can a that supporting that and do of predictive push happens cases all power sustainability. machines less of to said, protests edge, and rude will That the a didn't and which in front. mean browsing not and vocal to and made the things awakening do speak about of been it those company drive sustainable Lives by the talk more really Black in - clear on important higher Matter them. year the learning. of also more wide pandemic, world. trifecta example, lead artificial we of XXXX just the intelligence do, vibrant more really, focus governance capital is the what job

is do. what that intend So we to

of technologies that wireless that need can or and into energy terms industries intensive adoption where helps means technology activities. technology reduce footprint that carbon the wired In technology, drive truffles, the helped creating of the that for innovation travel reduce other of

That the companies, giving need the In greater live, the means great beyond. [Indiscernible] helps that me back of are. where same that to in team of communities, in to and Thanks terms XXXX. future who turn and things to the to our that do people work from when position of With to Rich. it's better from bottom team thrive all let top connect. poised can driving is balance, of we rethinking to over it It organization, a it and the deliver to XXXX you is strength. our of And diversity

Rich Brezski

Bill. Thanks

results the is business top model, increased with increase XXXX As results, $XX in recurring of revenue. an XX%. operating we our in XXXX $XX emphasize exemplified take line tremendous in our deliver million once leverage like would a or moment it Bill to our importance of since million while nearly said, I by to again,

operating year expense, expense from X% operating still, better Our for a year-over-year increase less the increased in research when X%. just and than expanded to our full litigation you was expenses adjust

XXXX. XX% As during increase of line XX% demonstration in is more This a leverage the increase result a growth. operating our top a in income. clear how operating a valuable for is importantly, But periods is it of our result, drove great

Of fully course, to take advantage to top leverage. growth we we of that to recognize line continue drive need this

agreements consumer to us enforcing responsibly. drive worldwide additional believe pleased recognition new noted, we made handset property intellectual resolutions responsibility offers with negotiate ultimate the XXXX electronics to rights have see to meaningful Bill a license And we Xiaomi support we Lenovo, the fair and to We both where our in arguments agreements and made have XXXX. that compelling And/or counterparties royalties. We fair growing in As in addition and are mobile manufacturers across to sets license for against manufacturers. pay believe this board. progress up has

partners. in on mobile we this rate. our roughly inflationary results on we can We yet, and outside $XXX of of roughly while just revenue electronics this Better of consumer ability our XXXX our to $XXX believe believe target. deliver million level of sharing support the That expenses. between third line targeting we revenue target in recurring electronics, additional continue achieve to is can We top one million long with our operating that believe consumer term, growth top deliver XXXX

doubles of increase flow more in delivered XXXX, we've Moving $XX million levels. over free on, of cash which million, an $XXX than XXXX

our year the was in As and cash the dividend choppy, strong balance the periods. end, a period represented investment $XXX small typically ended and repayment, first flow balance cash over XXXX the and for over of of the third second with business, bit Also in quarter, year, future of case, the of million. prior particular, total despite a receipts free debt typical to a flow quarters. with related This the $XXX short-term the increase our use in million is interim payments. cash and cash We year portion

this to continue all investments, in have while strong organic such to we considering are cash us and enforcement the To be forward, we make investments, employed remove with any of XXXX. sizable our chance share will the position past. to a made puts balance focus inorganic believe same mutation, repurchases Looking in patents and and considerations course, normal our careful in

for we we revenue will few QX a our received Finally, have final reports. in weeks our after QX expectations quarterly provide

Tiziana Figliolia

Thank you, we Thank call Bill. for questions. And Rich. now you, open will the

Operator

Our first comes Riley from Securities. question with B. Wold Eric [Operator Instructions]

EricWold

guys. one consistency. Thank you. questions, Good morning, A of Bill, maybe guess couple I

You progress negotiations, lot to talked close others where the have point a not. to of of kind can any they're did about you closing think and you

that litigation; resorted You signals? rate versus what that maybe gives gives been before? confidence kind And potentially of the hit one to negotiations of the guess between hit kind a to what of difference the closing point is maybe of something's what's those you that two? close of not I have the And sense

Bill Merritt

of Yes, a So considerable movement, gap it's other. simplest I be this, thing so can something closer you think is Yes, between like there to years they comes doing obviously the the right? can from could that inching be movement, look, But have parties. right. each

you're play to and it so, lands. where something And to that just out that's see allow going

important. So I very is movement, think

something not the they're They're is you time second movement, other why, positioning that is, could can going business think, business a can I for you movement their not is understand really reason, themselves and side figure period litigation it's where at, of they out there not and question when through if get. in really sometimes legitimate is be a not. there's the what

So there's that. comes a into bit that of patience

with for litigation. Third the things the a courthouse, some race you value you'll want being sometimes. things is there's first, while may positioning sometimes other like, side to to And don't be actually be

the profile have So actually invite it's they negotiation you enough, outright within innovation, you customers that, sense how that kind raise the oddly company. because will can of of their

about And It's come ones that. so But to reasons, those other probably think mind. that too. are

Eric Wold

where for licensing about Okay, it's business on is digital what the fair. at business, terms towards getting the spaces? line across think target? kind done that there is CE a within TV need a Or revenue benchmark be to can and you benchmark of $XXX deals benchmark within of then point those you HEVC. now deal marker, are And hit deals you an the major that talked inflection yields million done in closer we've the that it the get Do more those

Bill Merritt

I we benchmarks, any think need right. don't more

that sized things that. it So is deals and like have done have to companies teams IP with valuable reasonable good

when a larger to So become in if those against and you need terms set of important litigate agreements court very any player, rate.

covered solid think products in we've companies. and with I'd technologies, we're I done main we've say, the So the shape really good here, it main

spot we're think in I So a good benchmarks. with

we want consumer this that, think, I've a not even set a I As conversations market market; is this they're big my is, that the I mentioned, itself on needle to mentioned top good box market. as deal others, year. have move Humax is big though to electronics and really player we in really in the call,

we're So think well positioned. I very

Eric Wold

XX, enforcement And kind to in And litigation just the final think at know last kind when should you do kind trending we've start year, you stand, IP million-ish higher, of of point? costs moving you we million-ish this seen $XX would into $XX dive of to typically lower? move $XX question And with that year but for from not ticking this trajectory million XX, I them know, me. how expect everything about

Rich Brezski

we that, Eric. it's But prefer for an do the certainly we're off litigation time totally investment it. not we're always for situation time calls do, that, take we paid is again, investment us. to something will cost. not I not an It's if something us. it, for I'm that has but afraid Yes. It's and to say insensitive saying to And

XX the we with So ago. some Huawei over deals saw last uptick us were not than ZTE months years, also while and under we litigation, that of have couple resolve seen more

the the of So to as course, how the more hard things, really see around kind the for could that down at, predict far what things we're or they to, levels here. and it's fronts might road, of of have rest out could play you year, to going ebb resolve less go we'll these very where But new they're flow, or because open.

feel to message I answer, to make if make bit but I we the think going So like to of investment convey maybe unsatisfying it. a is an the want real we we need are

Operator

We'll question Security. take Soderberg our from Derek next Colliers with

Derek Soderberg

to sounds there. Hi, taking it everyone. with Thanks for my mean, wondering, questions. potential Technicolor, Samsung if of Bill, I confidence deal the confidence customers up. lot there a guess There's will some maybe wanted renewals growth include start wondering I'm in those likely will I'm I as is like I and then definitely renewals. these there. to size deal related I renew? and and Apple patents the follow

Bill Merritt

Sure.

So growth. I'm still on

new them. and about with like, customers, will Humax deals mixed and Xiaomi, center, be developed, that's renewals, last big And pretty think term, your little to in are in of those from a litigation mostly you you we I folks going question a the deal come of so will bag, they acquired with Lenovo, short like respect technologies absolutely, growth. front right, we've new to today. the and think to negotiation all a think folks growth be us is bit Apple in for that a have with and new since with the Samsung, I When driver answer things and

underway that couple for On other they've example, over handset declined options as their are there really great. people signal a LG, so to strategic which as going years. they're think, an process add the has of business, aware, last So renewals, I that's is,

the with we're would lower we lower them, So is in be conversation value and any because than then knew there that value. prior the business

that the the licensees So renewals bring but from we signing but business cases, be it'd for same, been think, whose in revenue the that are a come I as negotiation. declined, before. to the be said, more never And the other that, to or will major some for next better than lower even going if people I businesses in then has table people level, the is company growth have

Derek Soderberg

Got up, Biden into my guys think, then, it. have administration. good And as follow some visibility you I the

executive Now ones? their trolls, patent Thanks. that views such, so that, policies related resigning deals to out to taken or, your maybe on we're existing and more relates impact starting anything come or evolved new view administration FTC it new to actions see the some how's far? might that And how on the as

Bill Merritt

focused approach that three on, administration I their one we be there the So think would of are China. aspects to is

their other the I'll and other generally. And first I things IP would I'll one. two. do Rich stuff; like let handle be to Second, would last approach think be third the tax

on this, and think in I of was different. I'm many I what designate, approach think So too, Trump's with objectives be he of seen, China, example, seen China, testified, the the actually we've state sure agreed he the you when secretary have will for

going it's - the is approach coordinated in think Europeans respect with of the But more I the partnership with a to objective Europeans I same. to think with ultimate China. be

shipping there proposed royalties to as a by thing. tools that's provide proposed for States have essential additional you under patents. and Congress actually legislation standard Republicans so And may into seen, was And using in the from recent Chinese good United companies security

also legislation be supportive of, would stronger which that we Act, well. So Patents very administration forward. the were hopefully moves and the as There's believe we

IT. support think I that so And speaks their to generally of

have to that. to be Biden's a the I we've narratives generally, administration's that's recognize by were really supportive least that think going of against narrative, And false at patents to that system. strong come I a all used important think tech that it's prior and patent

strong Delaware before, the honestly, Senator the patent of from mentioned very supporter is a the of very, As President and a office, friend Coons and administration. I've

Rick other I'll matters. let the tax So handle

Rich Brezski

have Yes. the Thanks, Bill. you to call. And welcome, Derek. on Glad

dramatically since least of side, our of our views there, the we're the closely factors, how impact the the and we've about a number the to that it's longer see whether term, nothing the over see the so but develops in moderating short-term On the changed senate, economy, really composition short going watch - obviously anything pretty it pandemic in at tax of the something recently expressed most it's to not anticipating we're midterms, term. concerns on

Operator

next with ROTH Scott question Searle from Capital. Our comes

Scott Searle

look Thanks a difficult just Nice you, Hey, taking litigation give operating questions. Xiaomi in I steps in like? and question, update quickly job push earlier for both, Eric's over were And what guys, are I of quick questions. months? we you to a us route. up timeline litigation your Could are earlier misbehaving teams the that environment Lenovo in we're the where families safe. UK, India, my next follow the couple of to healthy your and on then in in players kind the referenced the up you follow currently good script, of guess Maybe next to in hope in the on tracking some your terms of of the morning. If Bill that and language all terms

some that Chinese read with process, that that we that into closer the manufacturers not who of read other along anything terms they you are currently i.e. that? of So are much - should you Vivo, litigating Oppo the don't in players OEMs into are in

Bill Merritt

Sure.

XX-K. So there's of description in the a litigation pretty robust

the view at. that a may sort for be high-level are you give you just a where but things refer I'll details, So of to of

with going dollar cases Lenovo, to cases with and in So there's US UK there's case, a China. them on the of respect involving base the series case, there's then

of infringement XXXX there case March, system early number and of UK the of friend a have technical think standpoint, the case is trials think technical a and I basically is I is that determination. stuck way from timing it's mature in starting UK then those case, trials, leading for is the a we call middle the the right. trials, scheduled trial most that patent are Q. And that there's the sort we in the works All validity the

of license that those good technical think that about to the and UK pretty, and pretty the well matter system the that developed. we And are the completely. is I resolve and cases trials, good about worldwide beauty So we feel cases, get the the opportunity feel there's friend's

India, always remotely. would With India operating have around and China, again, the it's at of have to There's China than that you're the both Xiaomi, course settled the one litigations moved places exactly say world, slower cases hard anticipated the because why.

So other, but there's of as uncertainty litigation there's of well. impact always there's the privilege the

as Lenovo litigation. I'd lot parties also But the quite talk going obviously, And mature not for an say litigation there's right. So a to opportunity provides on the as generally there.

expensive people they do an so And talk, it's way to to get but talk.

does in mean why apart, not of time but that Eric, from time. closed, that question answer, to Your the we again, are going there's litigation, the that remain It necessarily to not bring if somebody's it on the parties be movement. back parties far litigation could

sand, And as reason a to in so to no the out customer you line a positive that we're movement, seeing in with to continue engage want not there's the without way. as play long let drawing

make off a it sense to while But not So ways can close be in take the does a bring it because a case litigation. still that could in time, deal is it gap. to that

So who to who's terms deal the who not exceeded and not. I wouldn't is been necessarily read - of in who's into close who's

Scott Searle

is lastly, starting on to its and/or to relates video as I royalty in this see a in Got bit time. you little to could up could quick terms the Are front, if variable corner, Thanks. give you a you. update where and video wonder I the pick quarter. current us came of And where if Avanti in up was them IoT? it

Rich Brezski

Yes.

just fewer we even on bit a of maybe of more but comparatively the economy have reflection pandemic is of some pickup there, think the Again, variable seasonality. that little in the a licensees I side. and

a you deals Right coming of or licenses, a now, two understanding the and have high, in going as increase these as we move your markets that leads estimates So and report forward. unexpectedly can sign and we'll more to more more and true one gain you up cause to forward. trends

part So for down time. I quarter involved the estimate quarters of think of in to have really was supply level being definitely without over a it that the will again, royalties But we chain. in probably the settle most

in least position, anybody make at those else to great compared a not to estimates. we're So

have We to obviously And at get factors, will trued then history estimate true for influence look and current we reports when to the quarter. and our that up work. get that in following up they

what year So we've would have than we seen is maybe were during in pandemic. a the second things expected the half the of bit better little

So up. forward of CE look kind the there we're about were to some QX. that neighborhood XX% been levels the in still ongoing running positive a true the from talking in that on side, On we've of We'll help recurring of basis, goal. Humax same in roughly

Operator

Our Ian with comes Oppenheimer. next question from Zaffino

Unidentified Analyst

morning, for question. good our guys. Hey, This is Ian. Mark for on taking Thanks

a litigation. of on follow I seems Can question how like Germany this bit prior just forward? going the there's Thanks. you provide there? Xiaomi. on filed we sort more case up give quick details little should This more a So It something new or interpret is with meaningful, just a guess in

Bill Merritt

Sure.

surprising different, can various reasons descriptions but jurisdictions, K to the to, be sometimes for in right. again, things spread litigation, that these in So, not out the the

others think an Erickson and on And other kind and by for plain law the a Chinese to that's that it be we've seen to pushing. judge of around could not I've certain you're there's a in of specifically, what you area front And could exclusive aggressive stance So and into push pure I it getting of Lenovo litigation on push support jurisdiction [Indiscernible] courts that may start and world take that could this another rulings these be that, back patent been it simple also, the trying on also very sort litigation. was of claim that. almost Xiaomi, purpose having what matters, from over the China. as that well, that, going securing want be

another it's - wouldn't litigation, a that I a bit goes of is this So say chess little on game and chess just move. that I'd in

Unidentified Analyst

with another fair. conversation been them then how guess, or anything engaged has contracts. go? news that's that, towards I have Thanks. that provide? know, for could you on looking the there's sea Okay, with LG that. side they're LG like, the on guys space, smartphone, like, one on And Thanks like to to And the add smartphone you just guys I maybe,

Bill Merritt

a ours long time. So for with LG you're their particularly LG correct. have been quite The mobile, do has There the conversations conversations been areas customer a televisions. we different a where is some one around on can them. customer on of for CE And two had have they where One with are and time. new is

an there's earlier confronting very are doesn't to you I we've sometimes On would developed sales during a business going we they're be down, that because it's, their needs to that's situations somebody just shut period want not to someone business the to, the people if And there's the If just have want mobile relationships covered. need think the call, the and side, respect, these is gets license, else, with, stub opportunity you straightforward. we in there's old, gets mean it to practical that as there absolutely mentioned, I buyer license. that also or Eric

there to them So also the are correct think I you reasons at to need do little the people to a you have are just terms. really all and But secure lot with them to where good engage respect continue on of to with figure out to that. do life. focused business, to if give trying very they're a space what in their on And

Unidentified Analyst

but the I or management, quick it's hard of operating to that whether helpful. I be sure, the sort of you. gauge XQ, one, to operating for finally, just that's like, know, long going sense And very then on of term, litigation parts sort Okay, will any the moving a XXXX Thank helpful. expense it's the expenses, side, think

Rich Brezski

towards a any the things it end costs some sure with large very our these process. line. bring and I'll of a that portfolio, associated pat that Yes, that that, to directing like But charge effort acquired is that resources of a on of done company are highlight ongoing We had we of since good an the last had we've and with activities robust effort, top a years, stay portfolio, Technicolor in there have initial two little obviously we we a is for best make a to to patent we're those with assets. have the bit job portfolio, very management large the

our belt have So now a that's with research with effort. We the team. an full year the under year calendar ongoing full

model. impact being top in little maybe bit today. the you're That that periods growth, things movement and expenses they've again one you a see I in been again expense for a years. bottom come When of we over the line, theme our exists remarks a can of as the And, leverage the on we on was that operating two meaningful more drive operating So and to said, is line really the again, back that my last results. prepared than stable in tremendous it has without having line appreciation

that's we're focused So what on continuing.

Operator

next our from with Soderstrom will We Anja question take Sidoti.

Anja Soderstrom

in you Technicolor you not good as the lot question. Hi, do sort direction? already. discussion been in asked that in And do of are what of But of and market? It's what a everyone see fully you you thanks where M&A for see a then incorporated - good you and have taking head my questions and could terms

Bill Merritt

Sure.

I we script, to. a wanted think position M&A were in to if mentioned we So as in good Rich pursue his

consumer Fi couple obvious, have we in, would a includes of is I we today things think right? to HEVC, to think electronics I So innovation. behind standards, creating have fairly wide implementations. be strong, to that new broadcast to in that innovative But terms interested that would in in I a it's from So the And opportunity product that I we patents Wi think, of R&D be, specific obviously further variety business what a think strengthen way. there's

an give I'll example. So

don't they're they when do, of So that come interesting Wi to all on market Fi our often. the portfolios because programs. cut would they But us, all across

R&D the And a that that in do. that it's be we And to an of synergistic also very would technology so example with interesting already would that's be us. portfolio

think, because of so stuff interesting, in available. patents all licensing I cuts from it that, would particularly time becomes additional be again, to our and Beyond investment time across program, scanner-based video, that

of So from are our going because we that's things broadly best the of at across way that applicable that think be to that the widely drive ensuring I programs, capital. going right to deployment returns we're applicable look or the

portfolio was terms little at our to In quickly at get that into M&A there and those a they our or opportunities. But because in something of it interesting the again, variety bit actually of And so we time, the pickup the things opportunities deployed be been are slowed business a pandemic. opportunities interesting of from tires, to opportunities, simply the further The operating can rush showing categories; standpoint into interested kind well bit terms in last to a from if through. seen now this least interesting, of us companies were of as comes questions. I'm two pickup kind time it time, quarter I - think kick And more it's no a at beginning of it's but that of we've we little it's fall down. in would over one a of the the of there's

Tiziana Figliolia

our forward next thank to This on quarter. joining and you, an update Thank And giving you us for we Casey. today. concludes call look

Operator

you call. gentlemen, concludes Ladies this and for today's your participation. Thank

You lines. may your now disconnect phone

InterDigital (IDCC) 18 Feb 212020 Q4 Earnings call transcript