INTERDIGITAL, INC., 10-Q filed on 4/30/2026
Quarterly Report
v3.26.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2026
Apr. 28, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 1-33579  
Entity Registrant Name INTERDIGITAL, INC.  
Entity Incorporation, State or Country Code PA  
Entity Tax Identification Number 82-4936666  
Entity Address, Address Line One 200 Bellevue Parkway  
Entity Address, Address Line Two Suite 300  
Entity Address, City or Town Wilmington  
Entity Address, State or Province DE  
Entity Address, Postal Zip Code 19809-3727  
City Area Code 302  
Local Phone Number 281-3600  
Title of 12(b) Security Common Stock, par value $0.01 per share  
Trading Symbol IDCC  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   25,845,029
Entity Central Index Key 0001405495  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 607,599 $ 738,960
Short-term investments 474,260 504,200
Accounts receivable 208,327 69,816
Prepaid and other current assets 96,491 74,994
Total current assets 1,386,677 1,387,970
Property and equipment, net 22,871 23,713
Patents, net 319,158 318,756
Deferred tax assets 133,328 141,326
Other non-current assets, net 209,164 192,525
Total assets 2,071,198 2,064,290
Current liabilities:    
Current portion of long-term debt 377,787 458,376
Accounts payable 17,342 10,048
Accrued compensation and related expenses 32,795 50,050
Deferred revenue 261,103 193,722
Dividends payable 18,106 17,980
Other accrued expenses 31,207 22,326
Total current liabilities 738,340 752,502
Long-term debt 10,500 16,292
Long-term deferred revenue 159,362 135,882
Other long-term liabilities 58,910 58,494
Total liabilities 967,112 963,170
Commitments and contingencies
Shareholders' equity:    
Preferred Stock, $0.10 par value, 14,399 shares authorized, 0 shares issued and outstanding 0 0
Common Stock, $0.01 par value, 100,000 shares authorized, 71,979 and 70,965 shares issued and 25,873 and 25,685 shares outstanding 719 709
Additional paid-in capital 1,063,941 816,903
Retained earnings 2,170,071 2,113,240
Accumulated other comprehensive (loss) gain (636) 299
Treasury stock, 46,106 and 45,280 shares of common stock held at cost (2,130,009) (1,830,031)
Total shareholders' equity 1,104,086 1,101,120
Total liabilities and shareholders' equity $ 2,071,198 $ 2,064,290
v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
shares in Thousands
Mar. 31, 2026
Dec. 31, 2025
Shareholders' equity:    
Preferred stock, par value (in USD per share) $ 0.10 $ 0.10
Preferred stock, shares authorized (in shares) 14,399 14,399
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in USD per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 100,000 100,000
Common stock, shares issued (in shares) 71,979 70,965
Common stock, shares outstanding (in shares) 25,873 25,685
Treasury stock, shares of common held at cost (in shares) 46,106 45,280
v3.26.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue    
Revenue $ 205,416 $ 210,507
Operating expenses:    
Research and portfolio development 55,835 47,430
Licensing 52,119 17,677
General and administrative 15,201 13,568
Total operating expenses 123,155 78,675
Income from operations 82,261 131,832
Interest expense (9,067) (9,871)
Other income, net 6,600 10,258
Income before income taxes 79,794 132,219
Income tax provision (4,465) (16,617)
Net income $ 75,329 $ 115,602
Net income per common share:    
Basic (in USD per share) $ 2.93 $ 4.49
Diluted (in USD per share) $ 2.14 $ 3.45
Weighted average number of common shares outstanding:    
Basic (in shares) 25,721 25,741
Diluted (in shares) 35,280 33,505
Cash dividends declared per common share (in USD per share) $ 0.70 $ 0.60
v3.26.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 75,329 $ 115,602
Unrealized (loss) gain on investments, net of tax (935) 256
Comprehensive income $ 74,394 $ 115,858
v3.26.1
Condensed Consolidated Statements of Shareholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Beginning balance (in shares) at Dec. 31, 2024   70,577        
Beginning balance at Dec. 31, 2024 $ 857,215 $ 705 $ 808,540 $ 1,775,823 $ (458) $ (1,727,395)
Treasury stock, beginning balance (in shares) at Dec. 31, 2024           44,895
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 115,602     115,602    
Net change in unrealized gain (loss) on short-term investments 256       256  
Dividends declared (15,577)   450 (16,027)    
Exercise of common stock options (in shares)   100        
Exercise of common stock options 7,315 $ 1 7,314      
Issuance of common stock, net (in shares)   218        
Issuance of common stock, net (32,176) $ 2 (32,178)      
Share-based compensation 9,498   9,498      
Repurchase of common stock (in shares)           24
Repurchase of common stock (5,249)         $ (5,249)
Ending balance (in shares) at Mar. 31, 2025   70,895        
Ending balance at Mar. 31, 2025 $ 936,884 $ 708 793,624 1,875,398 (202) $ (1,732,644)
Treasury stock, ending balance (in shares) at Mar. 31, 2025           44,919
Beginning balance (in shares) at Dec. 31, 2025 25,685 70,965        
Beginning balance at Dec. 31, 2025 $ 1,101,120 $ 709 816,903 2,113,240 299 $ (1,830,031)
Treasury stock, beginning balance (in shares) at Dec. 31, 2025 45,280         45,280
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 75,329     75,329    
Net change in unrealized gain (loss) on short-term investments (935)       (935)  
Dividends declared (18,106)   392 (18,498)    
Issuance of common stock, net (in shares)   212        
Issuance of common stock, net (55,003) $ 2 (55,005)      
Share-based compensation 10,339   10,339      
Repurchase of common stock (in shares)           24
Repurchase of common stock (8,165)         $ (8,165)
Settlement of the 2027 Notes (in shares)   802        
Settlement of the 2027 Notes (495) $ 8 (503)      
Settlement of the 2027 Hedge (in shares)           802
Settlement of the 2027 Hedge $ 2   291,815     $ (291,813)
Ending balance (in shares) at Mar. 31, 2026 25,873 71,979        
Ending balance at Mar. 31, 2026 $ 1,104,086 $ 719 $ 1,063,941 $ 2,170,071 $ (636) $ (2,130,009)
Treasury stock, ending balance (in shares) at Mar. 31, 2026 46,106         46,106
v3.26.1
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Stockholders' Equity [Abstract]    
Dividends declared (in USD per share) $ 0.70 $ 0.60
v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 75,329 $ 115,602
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,208 18,213
Change in deferred revenue 85,861 (38,750)
Deferred income taxes 8,247 10,651
Share-based compensation 10,339 9,498
Other (944) (1,057)
Increase in assets:    
Receivables (138,511) (115,966)
Deferred charges and other assets (44,764) (2,201)
Increase (decrease) in liabilities:    
Accounts payable 6,800 1,730
Accrued compensation and other expenses (5,484) (17,709)
Net cash provided by (used in) operating activities 16,081 (19,989)
Cash flows from investing activities:    
Purchases of short-term investments (126,614) (86,864)
Proceeds from maturities and sales of short-term investments 156,389 173,029
Purchases of property and equipment (911) (14,508)
Capitalized patent costs (14,167) (12,149)
Long-term investments 1,709 0
Net cash provided by investing activities 16,406 59,508
Cash flows from financing activities:    
Payments on long-term debt (88,017) (1,284)
Net proceeds from exercise of stock options 0 7,316
Taxes withheld upon restricted stock unit vestings (55,003) (32,177)
Repurchase of common stock (8,165) (5,249)
Dividends paid (17,980) (11,557)
Net cash used in financing activities (169,165) (42,951)
Net decrease in cash, cash equivalents, and restricted cash (136,678) (3,432)
Cash, cash equivalents, and restricted cash, beginning of period [1] 754,268 551,547
Cash, cash equivalents, and restricted cash, end of period [1] $ 617,590 $ 548,115
[1]
Refer to Note 1, "Basis of Presentation," for additional supplemental cash flow information. Additionally, refer to Note 3, "Cash, Concentration of Credit Risk and Fair Value of Financial Instruments" for a reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets.
v3.26.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
In the opinion of management, the accompanying unaudited, condensed consolidated financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the financial position of InterDigital, Inc. (individually and/or collectively with its subsidiaries referred to as “InterDigital,” the “Company,” “we,” “us” or “our,” unless otherwise indicated) as of March 31, 2026, the results of our operations for the three months ended March 31, 2026 and 2025 and our cash flows for the three months ended March 31, 2026 and 2025. The accompanying unaudited, condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, accordingly, do not include all of the detailed schedules, information and notes necessary to state fairly the financial condition, results of operations and cash flows in conformity with United States generally accepted accounting principles (“GAAP”). The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP for year-end financial statements. Therefore, these financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (our “2025 Form 10-K”) as filed with the Securities and Exchange Commission (“SEC”) on February 5, 2026. Definitions of capitalized terms not defined herein appear within our 2025 Form 10-K. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire year. We have one reportable segment.
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.
Change in Accounting Policies
There have been no material changes or updates to our existing accounting policies from the disclosures included in our 2025 Form 10-K, except as indicated below in "New Accounting Guidance".
Reclassifications
Certain reclassifications have been made to prior year amounts to conform to the current year presentation.
Supplemental Cash Flow Information
The following table presents additional supplemental cash flow information for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
Supplemental cash flow information:20262025
Income taxes paid, including foreign withholding taxes$6,462 $10,204 
Non-cash investing and financing activities:
Non-cash acquisition of patents3,000 13,000 
Dividend payable18,106 15,577 
Accrued capitalized patent costs and property and equipment purchases(494)4,470 
Right-of-use assets obtained in exchange of operating lease liabilities597 — 
Settlement of the 2027 Notes and Hedge Transactions
291,310 — 
Unsettled repurchase of common stock451 411 
New Accounting Guidance
Accounting Standards Update: Induced Conversions of Convertible Debt Instruments
In November 2024, the FASB issued ASU No. 2024-04, "Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments". The amendments in the ASU require disclosures for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU 2024-04 is effective for fiscal years beginning after December 15, 2025, with early adoption allowed. We adopted this guidance as of January 1, 2026, and there was no impact of this adoption on our consolidated financial statements.
Accounting Standards Update: Targeted Improvements to the Accounting for Internal-Use Software
In September 2025, the FASB issued ASU No. 2025-06, "Intangibles—Goodwill and Other Internal-Use Software (Subtopic 350-40)". The amendments in the ASU amend certain aspects of the accounting for and disclosure of software costs under ASC 350-40. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, with early adoption allowed. We adopted this guidance as of January 1, 2026, and there was no material impact of this adoption on our consolidated financial statements.
Accounting Standards Update: Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU No. 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses". The amendments in the ASU require disclosures about specific types of expenses included in the expense captions presented on the Consolidated Statements of Income, as well as disclosures about selling expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, with early adoption allowed. We are currently evaluating the impact of adoption on our financial disclosures.
Accounting Standards Update: Interim Reporting (Topic 270): Narrow-Scope Improvements
In December 2025, the FASB issued ASU 2025-11 to amend the guidance in “Interim Reporting” (Topic 270). The update provides clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures and a new disclosure principle for reporting material events occurring after the most recent annual period. The amendments do not change the underlying objectives of interim reporting but are designed to enhance clarity in application. The guidance is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years. We are currently evaluating the impact of adoption on our consolidated financial statements.
v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Disaggregated Revenue
The following table presents the disaggregation of our revenue for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
 20262025
Increase/(Decrease)
Smartphone$123,391 $183,991 $(60,600)(33)%
CE, IoT/Auto81,891 26,267 55,624 212 %
Other134 249 (115)(46)%
Total Revenue$205,416 $210,507 $(5,091)(2)%
Catch-up revenue (a), included above
$63,623 $84,785 $(21,162)(25)%
(a)    Catch-up revenue represents revenue associated with reporting periods prior to the execution of the license agreement.
During the three months ended March 31, 2026, we recognized $61.4 million of revenue that had been included in deferred revenue as of the beginning of the period. As of March 31, 2026, we had contract assets of $58.4 million included within "Accounts receivable" and $27.0 million included within "Other non-current assets, net" in the condensed consolidated balance sheet. As of December 31, 2025, we had contract assets of $19.7 million included within "Accounts receivable" and $21.0 million included within "Other non-current assets, net" in the condensed consolidated balance sheet.
Contracted Revenue
Based on contracts signed and committed as of March 31, 2026, we expect to recognize the following revenue from dynamic fixed-fee royalty payments over the term of such contracts (in thousands):
Revenue (a)
Remainder of 2026$393,262 
2027512,557 
2028416,769 
2029356,840 
2030220,601 
Thereafter73,758 
Total Revenue$1,973,787 
(a)    This table includes estimated revenue related to our Lenovo arbitration. In accordance with ASC 606, this estimate is limited to the amount of revenue we expect to recognize only to the extent we believe it is probable that a subsequent change in the estimate would not result in a significant revenue reversal.
v3.26.1
Cash, Concentration of Credit Risk and Fair Value of Financial Instruments
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
CASH, CONCENTRATION OF CREDIT RISK AND FAIR VALUE OF FINANCIAL INSTRUMENTS CASH, CONCENTRATION OF CREDIT RISK AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, and Restricted Cash
Cash, cash equivalents, and restricted cash currently consist of money market and demand accounts. The following table provides a reconciliation of total cash, cash equivalents, and restricted cash as of March 31, 2026, December 31, 2025, and March 31, 2025 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands):
 March 31,December 31,March 31,
 202620252025
Cash and cash equivalents$607,599 $738,960 $536,639 
Restricted cash included within prepaid and other current assets9,991 15,308 11,476 
Total cash, cash equivalents, and restricted cash
$617,590 $754,268 $548,115 
Concentration of Credit Risk and Fair Value of Financial Instruments
Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash equivalents, short-term investments, and accounts receivable. We place our cash equivalents and short-term investments only in highly rated financial instruments and in United States government instruments.
Our accounts receivable and contract assets are derived principally from patent license and technology solutions agreements. Three licensees comprised 81% and 55% of our accounts receivable balances as of March 31, 2026 and December 31, 2025, respectively. We perform ongoing credit evaluations of our licensees, who generally include large, multinational, wireless telecommunications and consumer electronics equipment manufacturers. We believe that the book values of our financial instruments approximate their fair values.
Fair Value Measurements
We use various valuation techniques and assumptions when measuring the fair value of our assets and liabilities. We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. This guidance established a hierarchy that prioritizes fair value measurements based on the types of input used for the various valuation techniques (market approach, income approach and cost approach). The levels of the hierarchy are described below:
Level 1 Inputs — Level 1 includes financial instruments for which quoted market prices for identical instruments are available in active markets.
Level 2 Inputs — Level 2 includes financial instruments for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets with insufficient volume or infrequent transactions (less active markets) or model-driven valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data, including market interest rate curves, referenced credit spreads and pre-payment rates.
Level 3 Inputs — Level 3 includes financial instruments for which fair value is derived from valuation techniques including pricing models and discounted cash flow models in which one or more significant inputs are unobservable, including the Company’s own assumptions. The pricing models incorporate transaction details such as contractual terms, maturity and, in certain instances, timing and amount of future cash flows, as well as assumptions related to liquidity and credit valuation adjustments of marketplace participants.
Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of financial assets and financial liabilities and their placement within the fair value hierarchy. We use quoted market prices for similar assets to estimate the fair value of our Level 2 investments.
Recurring Fair Value Measurements
Our financial assets are generally included within short-term investments on our condensed consolidated balance sheets, unless otherwise indicated. Our financial assets and liabilities that are accounted for at fair value on a recurring basis are presented in the tables below as of March 31, 2026 and December 31, 2025 (in thousands):
 Fair Value as of March 31, 2026
 Level 1Level 2Level 3Total
Assets:    
Money market and demand accounts (a)
$598,672 $— $— $598,672 
Commercial paper
— 111,958 — 111,958 
U.S. government securities (b)
— 232,898 — 232,898 
Corporate bonds, asset backed and other securities
— 148,322 — 148,322 
  Total$598,672 $493,178 $— $1,091,850 
 Fair Value as of December 31, 2025
 Level 1Level 2Level 3Total
Assets:    
Money market and demand accounts (a)
$745,024 $— $— $745,024 
Commercial paper
— 121,361 — 121,361 
U.S. government securities— 240,556 — 240,556 
Corporate bonds, asset backed and other securities (c)
— 151,527 — 151,527 
  Total$745,024 $513,444 $— $1,258,468 
______________________________
(a)Primarily included within cash and cash equivalents.
(b)As of March 31, 2026, $18.9 million of U.S. government securities was included within cash and cash equivalents.
(c)As of December 31, 2025, $9.2 million of corporate bonds, asset backed and other securities was included within cash and cash equivalents.
Fair Value of Long-Term Debt
Convertible Notes
The principal amount, carrying value and related estimated fair value of the Company's convertible notes (the "Convertible Notes") reported as of March 31, 2026 and December 31, 2025 was as follows (in thousands). The aggregate fair value of the principal amount of the Convertible Notes is a Level 2 fair value measurement.
March 31, 2026December 31, 2025
Principal
Amount		Carrying
Value		Fair
Value		Principal
Amount		Carrying
Value		Fair
Value
2027 Senior Convertible Long-Term Debt$379,983 $377,787 $1,481,934 $459,986 $456,786 $1,905,819 
Technicolor Patent Acquisition Long-term Debt
The carrying value and related estimated fair value of the Technicolor Patent Acquisition (as defined below) long-term debt reported as of March 31, 2026 and December 31, 2025 was as follows (in thousands). The aggregate fair value of the Technicolor Patent Acquisition long-term debt is a Level 3 fair value measurement.
March 31, 2026December 31, 2025
Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Technicolor Patent Acquisition Long-Term Debt$10,500 $11,225 $17,882 $18,178 
v3.26.1
Other Assets and Liabilities
 3 Months Ended
Mar. 31, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER ASSETS AND LIABILITIES OTHER ASSETS AND LIABILITIES
The amounts included in "Prepaid and other current assets" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Tax receivables$50,565 $39,638 
Prepaid assets30,498 13,335 
Restricted cash9,991 15,308 
Other current assets5,437 6,713 
Total Prepaid and other current assets$96,491 $74,994 
The amounts included in "Other non-current assets, net" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Tax receivables$100,854 $98,846 
Contract asset27,000 21,000 
Goodwill24,073 24,073 
Right-of-use assets13,631 13,797 
Long-term investments11,718 11,718 
Other non-current assets31,888 23,091 
Total Other non-current assets, net$209,164 $192,525 
The amounts included in "Other accrued expenses" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Accrued legal fees$20,016 $14,008 
Other accrued expenses11,191 8,318 
Total Other accrued expenses$31,207 $22,326 
The amounts included in "Other long-term liabilities" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Deferred compensation liabilities$25,927 $25,454 
Operating lease liabilities13,435 13,540 
Other long-term liabilities19,548 19,500 
Total Other long-term liabilities$58,910 $58,494 
v3.26.1
Obligations
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
OBLIGATIONS OBLIGATIONS
2027 Notes and Related Note Hedge and Warrant Transactions
On May 27, 2022, we issued $460.0 million in aggregate principal amount of 3.50% Senior Convertible Notes due in 2027 (the "2027 Notes"). The net proceeds from the issuance of the 2027 Notes, after deducting the initial purchasers' transaction fees and offering expenses, were approximately $450.0 million. The 2027 Notes bear interest at a rate of 3.50% per year, payable in cash on June 1 and December 1 of each year, commencing on December 1, 2022, and mature on June 1, 2027, unless earlier redeemed, converted or repurchased.
The 2027 Notes will be convertible into cash up to the aggregate principal amount of the 2027 Notes to be converted and in respect of the remainder, if any, of the Company’s obligation in excess of the aggregate principal amount of the 2027 Notes being converted, pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination thereof, at the Company’s election, at an initial conversion rate of 12.9041 shares of common stock per $1,000 principal amount of the 2027 Notes (which is equivalent to an initial conversion price of approximately $77.49 per share). From the period January 1, 2024 through June 30, 2026, the holders of the 2027 Notes have the right, but not the obligation, to convert any portion of the principal amount of the 2027 Notes. As such, the 2027 Notes are included in "Current portion of long-term debt" in our condensed consolidated balance sheets as of March 31, 2026 and December 31, 2025.
The 2027 Notes are the Company’s senior unsecured obligations and rank equally in right of payment with any of the Company’s current and any future senior unsecured indebtedness. The 2027 Notes are effectively subordinated to all of the Company’s future secured indebtedness, if any, to the extent of the value of the related collateral, and the 2027 Notes are structurally subordinated to indebtedness and other liabilities, including trade payables, of the Company’s subsidiaries.
On May 24 and May 25, 2022, in connection with the offering of the 2027 Notes, we entered into convertible note hedge transactions ("2027 Note Hedge Transactions") that cover, subject to customary anti-dilution adjustments, approximately 5.9 million shares of common stock, in the aggregate, at a strike price that initially corresponds to the initial conversion price of the 2027 Notes, subject to adjustment, and are exercisable upon any conversion of the 2027 Notes. Also, on May 24 and May 25, 2022, we entered into privately negotiated warrant transactions ("2027 Warrant Transactions"), whereby we sold warrants to acquire, subject to customary anti-dilution adjustments, approximately 6.0 million shares of common stock. As of March 31, 2026, the warrants under the 2027 Warrant Transactions had a weighted average strike price of $105.55 per share, subject to adjustment, and mature beginning September 2027 through April 2028.
In December 2025, holders elected to convert $80.0 million principal amount of the 2027 Notes, which was settled in the first quarter of 2026. We paid the $80.0 million principal amount in cash and issued 0.8 million shares to settle the conversion spread. These shares issued were offset by 0.8 million shares received upon partial settlement of the 2027 Note Hedge Transactions, resulting in no incremental outstanding shares resulting from the conversion.
The following table reflects the carrying value of our Convertible Notes long-term debt as of March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
3.50% Senior Convertible Notes due 2027
$379,983 $459,986 
Less: Deferred financing costs(2,196)(3,200)
Net carrying amount of the Convertible Notes377,787 456,786 
Less: Current portion of long-term debt(377,787)(456,786)
Long-term net carrying amount of the Convertible Notes$— $— 
The following table presents the amount of interest cost recognized, which is included within "Interest expense" in our condensed consolidated statements of income, for the three months ended March 31, 2026 and 2025 relating to the contractual interest coupon and the amortization of deferred financing costs of the 2027 Notes (in thousands):
Three Months Ended March 31,
20262025
Contractual coupon interest$3,325 $4,025 
Amortization of deferred financing costs511 502 
Total$3,836 $4,527 
Technicolor Patent Acquisition Long-Term Debt
On July 30, 2018, we completed our acquisition of the patent licensing business of Technicolor SA ("Technicolor"), a worldwide technology leader in the media and entertainment sector (the "Technicolor Patent Acquisition"). In conjunction with the Technicolor Patent Acquisition, we assumed Technicolor’s rights and obligations under a joint licensing program with Sony relating to digital televisions and standalone computer display monitors, which commenced in 2015 (the "Madison Arrangement"). An affiliate of CPPIB Credit Investments Inc. ("CPPIB Credit"), a wholly owned subsidiary of Canada Pension Plan Investment Board, is a third-party investor in the Madison Arrangement. CPPIB Credit made certain payments to Technicolor and Sony and agreed to contribute cash to fund certain capital reserve obligations under the arrangement in exchange for a percentage of future revenue, specifically through September 11, 2030 in regard to the Technicolor patents.
Upon our assumption of Technicolor’s rights and obligations under the Madison Arrangement, our relationship with CPPIB Credit meets the criteria in ASC 470-10-25 - Sales of Future Revenues or Various Other Measures of Income ("ASC 470"), which relates to cash received from an investor in exchange for a specified percentage or amount of revenue or other measure of income of a particular product line, business segment, trademark, patent, or contractual right for a defined period. Under this guidance, we recognized the fair value of our contingent obligation to CPPIB Credit, as of the acquisition date, as long-term debt in our condensed consolidated balance sheet. This initial fair value measurement was based on the perspective of a market participant and included significant unobservable inputs which are classified as Level 3 inputs within the fair value hierarchy. The fair value of the long-term debt as of March 31, 2026 and December 31, 2025 is disclosed within Note 3, "Cash, Concentration of Credit Risk and Fair Value of Financial Instruments." Our repayment obligations are contingent upon future royalty revenue generated from the Madison Arrangement and there are no minimum or maximum payments under the arrangement.
Under ASC 470, amounts recorded as debt are amortized under the interest method. At each reporting period, we will review the discounted expected future cash flows over the life of the obligation. The Company made an accounting policy election to utilize the catch-up method when there is a change in the estimated future cash flows, whereby we will adjust the carrying amount of the debt to the present value of the revised estimated future cash flows, discounted at the original effective interest rate, with a corresponding adjustment recognized as interest expense within “Interest Expense” in the condensed consolidated statements of income. The effective interest rate as of the acquisition date was approximately 14.5%. This rate represents the discount rate that equates the estimated future cash flows with the fair value of the debt as of the acquisition date and is used to compute the amount of interest to be recognized each period based on the estimated life of the future revenue streams. During the three months ended March 31, 2026 and 2025, we recognized $0.6 million and $0.3 million, respectively, of interest expense related to this debt. This amount was included within “Interest Expense” in the condensed consolidated statements of income. Any future payments made to CPPIB Credit, or additional proceeds received from CPPIB Credit, will decrease or increase the long-term debt balance accordingly. We made $8.0 million and $1.3 million in payments to CPPIB Credit during the three months ended March 31, 2026 and 2025, respectively.
Technicolor Contingent Consideration
As part of the Technicolor Patent Acquisition, we entered into a revenue-sharing arrangement with Technicolor that created a contingent consideration liability. Under the revenue-sharing arrangement, Technicolor receives 42.5% of future cash receipts from new licensing efforts under the Madison Arrangement only, subject to certain conditions and hurdles. As of March 31, 2026, the contingent consideration liability from the revenue-sharing arrangement was deemed not probable and is therefore not reflected within the condensed consolidated financial statements.
v3.26.1
Litigation and Legal Proceedings
 3 Months Ended
Mar. 31, 2026
Gain (Loss) from Litigation Settlement [Abstract]  
LITIGATION AND LEGAL PROCEEDINGS LITIGATION AND LEGAL PROCEEDINGS
ARBITRATIONS AND COURT PROCEEDINGS
Amazon
United Kingdom Proceedings
In August 2025, Amazon.com, Inc. and certain of its subsidiaries (“Amazon”) filed a claim in the High Court of Justice of England and Wales against the Company and certain of its subsidiaries. The claims allege the non-infringement and invalidity of certain patents relating to video coding and video streaming technologies. Amazon is seeking, among other relief, a rate-setting and order that InterDigital offer Amazon a RAND license as declared by the Court, or a declaration that InterDigital is in breach of its RAND commitment and an unwilling licensor and damages arising from such breach, and a declaration that the challenged patents are invalid and non-essential and not infringed.
The Company made a jurisdictional challenge, which was denied in December 2025. The Company has appealed that decision. A subset of the issues raised by Amazon’s complaint are scheduled to be tried in September 2026, with the remainder to be scheduled later.
Brazil Proceedings
In September 2025, Amazon filed a claim in the Second Business Court of Sao Paulo (“Sao Paulo Court”) against the Company and certain of its subsidiaries. The claims allege the non-infringement and non-essentiality of certain patents relating to video coding and video streaming technologies. Amazon is seeking a declaration that the challenged Brazilian patents are not infringed, and a declaration preventing enforcement by the Company of any video coding patents anywhere in Brazil.
In November 2025, the Company and certain of its subsidiaries filed a claim in the Regional Business Court of Rio de Janeiro against Amazon. The claim alleges infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patents.
Germany Proceedings
In November and December 2025, the Company and certain of its subsidiaries filed patent infringement claims in three separate proceedings in the Munich and Mannheim Regional Courts against Amazon. The claims allege infringement of certain of the Company’s patents relating to video coding and video streaming technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents. Trials are expected in two of the three proceedings in third quarter and fourth quarter 2026.
UPC Proceedings
In November and December of 2025, the Company and certain of its subsidiaries filed patent infringement claims in three separate proceedings in the Mannheim Local Divisional Court and Dusseldorf Local Divisional Court of the UPC against Amazon. The claims allege infringement of certain of the Company’s patents relating to video coding and video streaming technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents.
International Trade Commission and Companion District Court Proceedings
In November 2025, the Company and certain of its subsidiaries filed a companion patent infringement complaint against Amazon in the Federal District Court of the District of Delaware. The claims allege infringement of certain of the Company’s patents relating to video coding and video streaming technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents.The case is currently stayed pending resolution of the ITC case described below.
In December 2025, the Company and certain of its subsidiaries filed a complaint in the United States International Trade Commission ("ITC") alleging that Amazon is engaged in unfair trade practices, and that certain of Amazon's video-capable electronic devices like smart TVs, streaming devices, tablets and smart display devices, and components thereof, infringe certain claims of the asserted patents. As relief, the Company is seeking, among other relief, a limited exclusion order against Amazon barring from entry into the United States all of Amazon’s products that infringe the asserted patents and cease and desist orders prohibiting Amazon from importing, selling, offering for sale, marketing, advertising, and distributing, infringing products. The ITC has instituted the investigation.
Eastern District of Virginia Proceedings
In December 2025, the Company and certain of its subsidiaries filed a claim in the Federal District Court of the Eastern District of Virginia against Amazon. The claim alleges infringement of four of the Company’s patents relating to video coding and video streaming technologies. The Company is seeking, among other relief, damages to prevent further infringement of the asserted patents.
Western District of Texas Proceedings
In February 2026, the Company and certain of its subsidiaries filed a complaint with the District Court for the Western District of Texas. The claim alleges infringement of six of the Company’s patents covering certain networking technologies relating to the delivery of video content. The Company is seeking, among other relief, damages to prevent further infringement of the asserted patents.
Disney
US Central District of California Proceedings
In February 2025, the Company and certain of its subsidiaries filed a claim in the Federal District Court of the Central District of California against The Walt Disney Co. and certain of its subsidiaries (“Disney”). The claim alleges infringement of certain of the Company’s patents relating to video coding and video streaming technologies. The Company is seeking, among other relief, damages to prevent further infringement of the asserted patents.
In March 2025, Disney filed an answer and asserted multiple counterclaims against the Company. In April 2025 Disney filed a motion for an anti-suit injunction to prevent enforcement of any potential injunctive relief in Brazil, which the court denied. In March of 2026, the court issued a claim construction decision holding that certain claims of a subset of the asserted patents were invalid for lack of sufficient definiteness; the balance of the decision was favorable. The Company is seeking reconsideration as to one of the claims held to be indefinite, and further intends to appeal such conclusions.
A trial is scheduled for February 2027.
Brazil Proceedings
In February 2025, the Company and certain of its subsidiaries filed a claim in the Regional Business Court of Rio de Janeiro against Disney. The claim alleges infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patents.
In March 2025, Disney filed an answer and asserted a rate-setting counterclaim. In May 2025, the Company requested an anti-interference injunction to prevent Disney from continuing with its anti-suit injunction in California.
In September 2025, the Court granted the Company’s preliminary injunction request. The Appellate Court initially granted Disney’s request to stay the preliminary injunction pending hearing of an appeal, but that stay was lifted.
In October 2025, the Company filed another claim in the Regional Business Court of Rio de Janeiro against Disney. The claim alleges infringement of one of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patent.
Germany Proceedings
In February and April of 2025, the Company and certain of its subsidiaries filed patent infringement claims in four separate proceedings in the Munich Regional Court against Disney. The claims allege infringement of certain of the Company’s patents relating to video coding and video streaming technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents.
In October 2025, the Court held a hearing and issued an order finding validity of and infringement by Disney of one of the Company’s patents. The order enjoined Disney from further infringement. Disney is currently appealing the Court’s determinations. In January 2026, the Court imposed fines of €550,000 for Disney’s violations of the injunction following a request for coercive measures from the Company.
In November 2025, the Court held another hearing and issued another order finding infringement by Disney of another of the Company’s patents. The order also enjoined Disney from further infringement. In February 2026, the Court held another hearing and issued another order finding infringement by Disney of another of the Company’s patents. The order also enjoined Disney from further infringement. A hearing on the remaining asserted patent has not yet been scheduled.
UPC Proceedings
In February and April of 2025, the Company and certain of its subsidiaries filed patent infringement claims in four separate proceedings in the Mannheim Local Divisional Court and Dusseldorf Local Divisional Court of the UPC against Disney. The claims allege infringement of certain of the Company’s patents relating to video coding and video streaming technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents.
The Mannheim Court has scheduled a hearing for one of the two asserted patents in May 2026 with the remainder to be scheduled in the second half of 2026. The Dusseldorf Court has scheduled hearings for two asserted patents in June and July 2026.
Delaware Proceedings
In August 2025, a subsidiary of Disney filed an antitrust complaint against the Company and certain of its subsidiaries, and Technicolor in the Federal District Court of the District of Delaware. The claims allege the Company has engaged in monopolistic conduct in the licensing of its patents relating to video coding and video streaming technologies. Disney is seeking, among other relief, injunctive relief to halt the licensing practices it views as unlawful, and damages.
In September 2025, the Company filed a motion to dismiss Disney’s complaint, or in the alternative, stay the case pending resolution of the Company’s cases against Disney in California, Europe, and Brazil. In October 2025, the Antitrust Division of the United States Department of Justice filed a Statement of Interest in the Delaware case.
Dolby
In March 2026, Dolby Laboratories filed two complaints in the Central District of California seeking declaratory judgment relief with respect to six of the Company’s patents. The first complaint seeks declarations of invalidity and noninfringement with respect to one of the Company’s video technology patents that is also currently being asserted against Disney. The second complaint seeks declarations of noninfringement with respect to five of the Company’s video technology patents that are also being asserted against Amazon, Hisense and TCL. In April 2026, the Company filed a motion to dismiss the first complaint; the deadline to respond to the second complaint has not yet passed.
Hisense
UPC Proceedings
In February 2026, the Company and certain of its subsidiaries filed patent infringement claims in the Mannheim Local Divisional Court of the UPC against Hisense Group Co., Ltd. and certain of its subsidiaries (“Hisense”). The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents.
Germany Proceedings
In February 2026, the Company and certain of its subsidiaries filed patent infringement claims in the Munich Regional Court against Hisense. The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents. The Munich Court has scheduled a hearing for January 2027.
India Proceedings
In February 2026, the Company and certain of its subsidiaries filed patent infringement claims in the Delhi High Court against Hisense. The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents, damages, and a declaration that the Company is FRAND compliant and that Hisense is an unwilling licensee with respect to the FRAND claims.
Brazil Proceedings
In February 2026, the Company and certain of its subsidiaries filed a claim in the Regional Business Court of Rio de Janeiro against Hisense. The claim alleges infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patents.
International Trade Commission and Companion District Court Proceedings
In February 2026, the Company and certain of its subsidiaries filed a companion patent infringement complaint against Hisense in the Federal District Court of the Northern District of Georgia. The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patents. The case is currently stayed pending resolution of the ITC case described below.
In February 2026, the Company and certain of its subsidiaries filed a complaint in the ITC alleging that Hisense (and TCL, as further described below) is engaged in unfair trade practices by selling for importation, importing, and selling after importation products that infringe six of the Company's patents. The products include certain video-capable electronic devices like smart TVs, monitor display devices, and components thereof that infringe certain claims of the asserted patents. As relief, the Company is seeking, among other relief, a limited exclusion order against Hisense barring from entry into the United States all of Hisense’s products that infringe the asserted patents and cease and desist orders prohibiting Hisense from importing, selling, offering for sale, marketing, advertising, and distributing, infringing products. The ITC has instituted the investigation.
Lenovo
In fourth quarter 2024, the Company reached an agreement with Lenovo Group Limited and certain of its subsidiaries (“Lenovo”) to enter into binding arbitration to determine the final terms of a new patent license agreement, which will be effective from January 1, 2024. In November 2024, the Company filed a request for arbitration with the International Chamber of Commerce. In March 2025, the International Chamber of Commerce confirmed the full tribunal for the arbitration. The Company anticipates that the arbitration hearing will occur before year end.
Samsung
The Company reached an agreement with Samsung Electronics Co. Ltd. (“Samsung”) to enter into binding arbitration to determine the final terms of a renewed patent license agreement to certain of the Company’s patents, to be effective from January 1, 2023. In July 2025, a panel of International Chamber of Commerce arbitrators determined the royalties of the patent license between the Company and Samsung covering Samsung’s products other than digital televisions and computer display monitors, which have been licensed under a separate agreement. The panel set the total royalties at $1.05 billion for the eight-year patent license.
In December 2025, Samsung filed a request to the International Chamber of Commerce seeking to challenge the previously determined royalties.
TCL
UPC Proceedings
In February 2026, the Company and certain of its subsidiaries filed patent infringement claims in the Munich Local Divisional Court of the UPC against TCL Technology Group Corp. and certain of its subsidiaries (“TCL”). The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents.
Germany Proceedings
In February 2026, the Company and certain of its subsidiaries filed patent infringement claims in the Munich Regional Court against TCL. The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents. The Munich Court has scheduled a hearing for January 2027.
India Proceedings
In February 2026, the Company and certain of its subsidiaries filed patent infringement claims in the Delhi High Court against TCL. The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents, damages, and a declaration that the Company is FRAND compliant and that TCL is an unwilling licensee with respect to the FRAND claims.
Brazil Proceedings
In February 2026, the Company and certain of its subsidiaries filed a claim in the Regional Business Court of Rio de Janeiro against TCL. The claim alleges infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patents. A hearing has been scheduled for July 2026.
International Trade Commission and Companion District Court Proceedings
In February 2026, the Company and certain of its subsidiaries filed a companion patent infringement complaint against TCL in the Federal District Court of the Eastern District of Texas. The claims allege infringement of certain of the Company’s patents relating to video coding technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patents. The case is currently stayed pending resolution of the ITC case described below.
In February 2026, the Company and certain of its subsidiaries filed a complaint in the ITC, referenced above with respect to Hisense, alleging that TCL is engaged in unfair trade practices by selling for importation, importing, and selling after importation products that infringe six of the Company's patents. The products include certain video-capable electronic devices like smart TVs, monitor display devices, and components thereof that infringe certain claims of the asserted patents. As relief, the Company is seeking, among other relief, a limited exclusion order against TCL barring from entry into the United States all of TCL’s products that infringe the asserted patent and cease and desist orders prohibiting TCL from importing, selling, offering for sale, marketing, advertising, and distributing, infringing products. The ITC has instituted the investigation.
Tesla
In December 2023, Tesla and certain of its subsidiaries filed a claim in the UK High Court against the Company and Avanci. The claim alleges invalidity of three of the Company’s patents relating to 5G standards: European Patent (UK) Nos. 3,718,369, 3,566,413, and 3,455,985. Tesla sought, among other relief, a declaration that the patents at issue are invalid, not essential, and not infringed, revocation of the patents at issue, a declaration that the terms of the Avanci 5G Connected Vehicle platform license are not FRAND, and a determination of FRAND terms for a license between Tesla and Avanci covering its Avanci’s 5G Connected Vehicle platform. In March 2024, the Company filed a jurisdiction challenge; the jurisdiction challenge was heard during May and June 2024, and in July 2024 the UK High Court issued a judgment dismissing Tesla’s FRAND claims against the Company and Avanci, and maintaining Tesla’s patent claims against the Company. The patent claims against the Company were further stayed by the UK High Court. An appeal hearing was held in December 2024, and the UK Court of Appeal upheld the lower court's decision and refused Tesla’s request for permission to appeal. Tesla filed an application for permission to appeal to the Supreme Court. In July 2025, the Supreme Court granted Tesla’s request for permission to appeal the issues of whether pool licenses are arguably required to be FRAND, whether all members of the Avanci 5G Platform must be joined to the case, and whether Tesla’s claim advances the possibility of a bilateral license from the Company. In September 2025, the Company filed an application for permission to cross-appeal. The Supreme Court heard the appeal in April 2026, and a decision is forthcoming.
Transsion
UPC Proceedings
In September 2025, the Company and certain of its subsidiaries filed patent infringement claims in the Munich Local Divisional Court of the UPC against Transsion Holdings Pvt Ltd and certain of its subsidiaries (“Transsion”). The claims allege infringement of certain of the Company’s patents relating to cellular SEP technologies and video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents. The Munich Court has scheduled a hearing for March 2027.
India Proceedings
In September and October 2025, the Company and certain of its subsidiaries filed patent infringement claims in the Delhi High Court against Transsion. The claims allege infringement of certain of the Company’s patents relating to cellular SEP technologies and video coding technologies. The Company is seeking, among other relief, injunctive relief to prevent further infringement of the asserted patents, damages, and a declaration that the Company is FRAND compliant and that Transsion is an unwilling licensee with respect to the FRAND claims.
Brazil Proceedings
In September 2025, the Company and certain of its subsidiaries filed a claim in the Regional Business Court of Rio de Janeiro against Transsion. The claim alleges infringement of certain of the Company’s patents relating to cellular SEP technologies. The Company is seeking, among other relief, damages and injunctive relief to prevent further infringement of the asserted patents. In March 2026, the Court issued a preliminary injunction enjoining Transsion from selling 5G-compliant devices in Brazil. Transsion has appealed this decision, and the appeal is pending.
OTHER
We are party to certain other disputes and legal actions in the ordinary course of business, including arbitrations and legal proceedings with licensees regarding the terms of their agreements and the negotiation thereof. We do not currently believe that these matters, even if adversely adjudicated or settled, would have a material adverse effect on our financial condition, results of operations or cash flows. None of the preceding matters have met the requirements for accrual or disclosure of a potential range as of March 31, 2026, except as noted above.
v3.26.1
Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
In the three months ended March 31, 2026 and 2025, the Company had an estimated effective tax rate of 5.6% and 12.6%, respectively. The change in effective tax rate is due to an increase in the amount of tax benefits related to share-based compensation. During the three months ended March 31, 2026 and 2025, the Company recorded discrete net benefits of $10.4 million and $3.9 million, respectively, primarily related to share-based compensation.
The One Big Beautiful Bill Act (the “OBBBA”) was signed into law on July 4th, 2025. The OBBBA contains significant tax law changes with various effective dates affecting business taxpayers. The tax law changes affecting the Company primarily involve changes to the timing and amount of certain tax deductions, including those related to FDII, GILTI, depreciation, R&D expenditures, and interest expense. This bill did not have a material impact on our financial statements in first quarter 2026.
The effective tax rate reported in any given year will continue to be influenced by a variety of factors, including timing differences between the recognition of book and tax revenue, the level of pre-tax income or loss, the foreign vs. domestic classification of the Company’s customers, and any discrete items that may occur.
During the three months ended March 31, 2026 and 2025, the Company paid approximately $3.1 million and $3.2 million, respectively, in foreign source creditable withholding tax.
v3.26.1
Net Income Per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
NET INCOME PER SHARE NET INCOME PER SHARE
Basic Earnings Per Share ("EPS") is calculated by dividing net income or loss available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if options or other securities with features that could result in the issuance of common stock were exercised or converted to common stock or resulting from the unvested outstanding restricted stock units ("RSUs"). The following tables reconcile the numerator and the denominator of the basic and diluted net income per share computation (in thousands, except for per share data):
Three Months Ended March 31,
20262025
Net income
$75,329 $115,602 
Weighted-average shares outstanding:
Basic25,721 25,741 
Dilutive effect of stock options and RSUs
1,039 1,275 
Dilutive effect of warrants
4,124 2,819 
Dilutive effect of convertible securities
4,396 3,670 
Diluted35,280 33,505 
Earnings per share:
Basic$2.93 $4.49 
Dilutive effect of stock options and RSUs
(0.09)(0.17)
Dilutive effect of warrants
(0.34)(0.38)
Dilutive effect of convertible securities
(0.36)(0.49)
Diluted$2.14 $3.45 
Shares of common stock issuable upon the exercise or conversion of certain securities have been excluded from our computation of EPS because the strike price or conversion rate, as applicable, of such securities was greater than the average market price of our common stock and, as a result, the effect of such exercise or conversion would have been anti-dilutive. Set forth below are the securities and the weighted average number of shares of common stock underlying such securities that were excluded from our computation of EPS for the periods presented (in thousands):
Three Months Ended March 31,
20262025
Warrants1,858 3,136 
Convertible Notes and Warrants
Refer to Note 5, "Obligations," for information about the Company's convertible notes and warrants and related conversion and strike prices. During periods in which the average market price of the Company's common stock is above the applicable conversion price of the Company's convertible notes, or above the strike price of the Company's outstanding warrants, the impact of conversion or exercise, as applicable, would be dilutive and such dilutive effect is reflected in diluted EPS. As a result, in periods where the average market price of the Company's common stock is above the conversion price or strike price, as applicable, under the if-converted method, the Company calculates the number of shares issuable under the terms of the convertible notes and the warrants based on the average market price of the stock during the period, and includes that number in the total diluted shares outstanding for the period.
v3.26.1
Segment Performance Measures and Expenses
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT PERFORMANCE MEASURES AND EXPENSES SEGMENT PERFORMANCE MEASURES AND EXPENSES
Our Chief Executive Officer, who is our chief operating decision maker (“CODM”), assesses company-wide performance and allocates resources based on consolidated financial information. Consequently, we view the entire organization as one reportable segment and the strategic purpose of all operating activities is to support that one segment. Our CODM evaluates company-wide performance based on multiple performance measures, including, but not limited to, net income. Our CODM does not generally evaluate our performance using asset or historical cash flow information.
The table below provides the calculation of net income, which is the performance measure that is most consistent with GAAP, and the significant operating expenses included in this performance measure (in thousands):

 Three months ended March 31,
 20262025
Revenue$205,416 $210,507 
Less:
Departmental expenses (a)
48,605 41,337 
Depreciation and amortization19,208 18,213 
Intellectual property enforcement
17,505 6,978 
Share-based compensation10,339 9,498 
Revenue share costs27,498 2,649 
Other non-operating expense (income), net (b)
2,467 (387)
Income tax provision4,465 16,617 
Net income$75,329 $115,602 
(a) Includes personnel costs, consulting costs, outside services, administrative costs, and other operating expenses.
(b) Includes interest income, interest expense, and other non-operating income and expenses
v3.26.1
Other Income, Net
 3 Months Ended
Mar. 31, 2026
Other Income and Expenses [Abstract]  
OTHER INCOME, NET OTHER INCOME, NET
The amounts included in "Other income, net" in the condensed consolidated statements of income for the three months ended March 31, 2026 and 2025 were as follows (in thousands):
Three Months Ended March 31,
20262025
Interest and investment income$10,529 $9,264 
Other(3,929)994 
Other income, net$6,600 $10,258 
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
During first quarter 2026, the following Section 16 officers adopted, modified or terminated “Rule 10b5-1 trading arrangements”, as such term is defined in Item 408(a) of Regulation S-K:

ActionDateTrading Arrangement
Maximum Shares to be Sold
Expiration Date
Rule 10b5-1Non-Rule 10b5-1
John D. Markley, Jr.TerminateMarch 11, 2026X1,100November 6, 2026
John D. Markley, Jr.AdoptMarch 11, 2026X2,400March 31, 2027
Julia MattisAdoptMarch 4, 2026X1,600March 4, 2027
Non-Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Terminated false
John D. Markley, Jr. [Member]  
Trading Arrangements, by Individual  
Name John D. Markley, Jr.
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 11, 2026
Rule 10b5-1 Arrangement Terminated true
Termination Date March 11, 2026
Expiration Date March 31, 2027
Arrangement Duration 385 days
Aggregate Available 2,400
Julia Mattis [Member]  
Trading Arrangements, by Individual  
Name Julia Mattis
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 4, 2026
Expiration Date March 4, 2027
Arrangement Duration 365 days
Aggregate Available 1,600
v3.26.1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation The accompanying unaudited, condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, accordingly, do not include all of the detailed schedules, information and notes necessary to state fairly the financial condition, results of operations and cash flows in conformity with United States generally accepted accounting principles (“GAAP”). The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP for year-end financial statements. Therefore, these financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (our “2025 Form 10-K”) as filed with the Securities and Exchange Commission (“SEC”) on February 5, 2026. Definitions of capitalized terms not defined herein appear within our 2025 Form 10-K. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire year. We have one reportable segment.
Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.
Reclassifications
Reclassifications
Certain reclassifications have been made to prior year amounts to conform to the current year presentation.
New Accounting Guidance
New Accounting Guidance
Accounting Standards Update: Induced Conversions of Convertible Debt Instruments
In November 2024, the FASB issued ASU No. 2024-04, "Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments". The amendments in the ASU require disclosures for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU 2024-04 is effective for fiscal years beginning after December 15, 2025, with early adoption allowed. We adopted this guidance as of January 1, 2026, and there was no impact of this adoption on our consolidated financial statements.
Accounting Standards Update: Targeted Improvements to the Accounting for Internal-Use Software
In September 2025, the FASB issued ASU No. 2025-06, "Intangibles—Goodwill and Other Internal-Use Software (Subtopic 350-40)". The amendments in the ASU amend certain aspects of the accounting for and disclosure of software costs under ASC 350-40. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, with early adoption allowed. We adopted this guidance as of January 1, 2026, and there was no material impact of this adoption on our consolidated financial statements.
Accounting Standards Update: Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU No. 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses". The amendments in the ASU require disclosures about specific types of expenses included in the expense captions presented on the Consolidated Statements of Income, as well as disclosures about selling expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, with early adoption allowed. We are currently evaluating the impact of adoption on our financial disclosures.
Accounting Standards Update: Interim Reporting (Topic 270): Narrow-Scope Improvements
In December 2025, the FASB issued ASU 2025-11 to amend the guidance in “Interim Reporting” (Topic 270). The update provides clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures and a new disclosure principle for reporting material events occurring after the most recent annual period. The amendments do not change the underlying objectives of interim reporting but are designed to enhance clarity in application. The guidance is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years. We are currently evaluating the impact of adoption on our consolidated financial statements.
Fair Value Measurements
Fair Value Measurements
We use various valuation techniques and assumptions when measuring the fair value of our assets and liabilities. We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. This guidance established a hierarchy that prioritizes fair value measurements based on the types of input used for the various valuation techniques (market approach, income approach and cost approach). The levels of the hierarchy are described below:
Level 1 Inputs — Level 1 includes financial instruments for which quoted market prices for identical instruments are available in active markets.
Level 2 Inputs — Level 2 includes financial instruments for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets with insufficient volume or infrequent transactions (less active markets) or model-driven valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data, including market interest rate curves, referenced credit spreads and pre-payment rates.
Level 3 Inputs — Level 3 includes financial instruments for which fair value is derived from valuation techniques including pricing models and discounted cash flow models in which one or more significant inputs are unobservable, including the Company’s own assumptions. The pricing models incorporate transaction details such as contractual terms, maturity and, in certain instances, timing and amount of future cash flows, as well as assumptions related to liquidity and credit valuation adjustments of marketplace participants.
Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of financial assets and financial liabilities and their placement within the fair value hierarchy. We use quoted market prices for similar assets to estimate the fair value of our Level 2 investments.
Net Income Per Share Basic Earnings Per Share ("EPS") is calculated by dividing net income or loss available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if options or other securities with features that could result in the issuance of common stock were exercised or converted to common stock or resulting from the unvested outstanding restricted stock units ("RSUs").
v3.26.1
Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of supplemental cash flow information
The following table presents additional supplemental cash flow information for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
Supplemental cash flow information:20262025
Income taxes paid, including foreign withholding taxes$6,462 $10,204 
Non-cash investing and financing activities:
Non-cash acquisition of patents3,000 13,000 
Dividend payable18,106 15,577 
Accrued capitalized patent costs and property and equipment purchases(494)4,470 
Right-of-use assets obtained in exchange of operating lease liabilities597 — 
Settlement of the 2027 Notes and Hedge Transactions
291,310 — 
Unsettled repurchase of common stock451 411 
v3.26.1
Revenue (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregation of revenue
The following table presents the disaggregation of our revenue for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
 20262025
Increase/(Decrease)
Smartphone$123,391 $183,991 $(60,600)(33)%
CE, IoT/Auto81,891 26,267 55,624 212 %
Other134 249 (115)(46)%
Total Revenue$205,416 $210,507 $(5,091)(2)%
Catch-up revenue (a), included above
$63,623 $84,785 $(21,162)(25)%
(a)    Catch-up revenue represents revenue associated with reporting periods prior to the execution of the license agreement.
Schedule of contracted revenue
Based on contracts signed and committed as of March 31, 2026, we expect to recognize the following revenue from dynamic fixed-fee royalty payments over the term of such contracts (in thousands):
Revenue (a)
Remainder of 2026$393,262 
2027512,557 
2028416,769 
2029356,840 
2030220,601 
Thereafter73,758 
Total Revenue$1,973,787 
(a)    This table includes estimated revenue related to our Lenovo arbitration. In accordance with ASC 606, this estimate is limited to the amount of revenue we expect to recognize only to the extent we believe it is probable that a subsequent change in the estimate would not result in a significant revenue reversal.
v3.26.1
Cash, Concentration of Credit Risk and Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of cash and cash equivalents The following table provides a reconciliation of total cash, cash equivalents, and restricted cash as of March 31, 2026, December 31, 2025, and March 31, 2025 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands):
 March 31,December 31,March 31,
 202620252025
Cash and cash equivalents$607,599 $738,960 $536,639 
Restricted cash included within prepaid and other current assets9,991 15,308 11,476 
Total cash, cash equivalents, and restricted cash
$617,590 $754,268 $548,115 
Schedule of restricted cash and cash equivalents The following table provides a reconciliation of total cash, cash equivalents, and restricted cash as of March 31, 2026, December 31, 2025, and March 31, 2025 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands):
 March 31,December 31,March 31,
 202620252025
Cash and cash equivalents$607,599 $738,960 $536,639 
Restricted cash included within prepaid and other current assets9,991 15,308 11,476 
Total cash, cash equivalents, and restricted cash
$617,590 $754,268 $548,115 
Schedule of fair value on a recurring basis Our financial assets and liabilities that are accounted for at fair value on a recurring basis are presented in the tables below as of March 31, 2026 and December 31, 2025 (in thousands):
 Fair Value as of March 31, 2026
 Level 1Level 2Level 3Total
Assets:    
Money market and demand accounts (a)
$598,672 $— $— $598,672 
Commercial paper
— 111,958 — 111,958 
U.S. government securities (b)
— 232,898 — 232,898 
Corporate bonds, asset backed and other securities
— 148,322 — 148,322 
  Total$598,672 $493,178 $— $1,091,850 
 Fair Value as of December 31, 2025
 Level 1Level 2Level 3Total
Assets:    
Money market and demand accounts (a)
$745,024 $— $— $745,024 
Commercial paper
— 121,361 — 121,361 
U.S. government securities— 240,556 — 240,556 
Corporate bonds, asset backed and other securities (c)
— 151,527 — 151,527 
  Total$745,024 $513,444 $— $1,258,468 
______________________________
(a)Primarily included within cash and cash equivalents.
(b)As of March 31, 2026, $18.9 million of U.S. government securities was included within cash and cash equivalents.
(c)As of December 31, 2025, $9.2 million of corporate bonds, asset backed and other securities was included within cash and cash equivalents.
Schedule of aggregate fair value
The principal amount, carrying value and related estimated fair value of the Company's convertible notes (the "Convertible Notes") reported as of March 31, 2026 and December 31, 2025 was as follows (in thousands). The aggregate fair value of the principal amount of the Convertible Notes is a Level 2 fair value measurement.
March 31, 2026December 31, 2025
Principal
Amount		Carrying
Value		Fair
Value		Principal
Amount		Carrying
Value		Fair
Value
2027 Senior Convertible Long-Term Debt$379,983 $377,787 $1,481,934 $459,986 $456,786 $1,905,819 
The aggregate fair value of the Technicolor Patent Acquisition long-term debt is a Level 3 fair value measurement.
March 31, 2026December 31, 2025
Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Technicolor Patent Acquisition Long-Term Debt$10,500 $11,225 $17,882 $18,178 
v3.26.1
Other Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of prepaid and other current assets
The amounts included in "Prepaid and other current assets" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Tax receivables$50,565 $39,638 
Prepaid assets30,498 13,335 
Restricted cash9,991 15,308 
Other current assets5,437 6,713 
Total Prepaid and other current assets$96,491 $74,994 
Schedule of other non-current assets
The amounts included in "Other non-current assets, net" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Tax receivables$100,854 $98,846 
Contract asset27,000 21,000 
Goodwill24,073 24,073 
Right-of-use assets13,631 13,797 
Long-term investments11,718 11,718 
Other non-current assets31,888 23,091 
Total Other non-current assets, net$209,164 $192,525 
Schedule of other accrued expenses
The amounts included in "Other accrued expenses" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Accrued legal fees$20,016 $14,008 
Other accrued expenses11,191 8,318 
Total Other accrued expenses$31,207 $22,326 
Schedule of other long-term liabilities
The amounts included in "Other long-term liabilities" in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
March 31, 2026December 31, 2025
Deferred compensation liabilities$25,927 $25,454 
Operating lease liabilities13,435 13,540 
Other long-term liabilities19,548 19,500 
Total Other long-term liabilities$58,910 $58,494 
v3.26.1
Obligations (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of debt
The following table reflects the carrying value of our Convertible Notes long-term debt as of March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
3.50% Senior Convertible Notes due 2027
$379,983 $459,986 
Less: Deferred financing costs(2,196)(3,200)
Net carrying amount of the Convertible Notes377,787 456,786 
Less: Current portion of long-term debt(377,787)(456,786)
Long-term net carrying amount of the Convertible Notes$— $— 
Schedule of accretion of the debt discount, and the amortization of financing costs
The following table presents the amount of interest cost recognized, which is included within "Interest expense" in our condensed consolidated statements of income, for the three months ended March 31, 2026 and 2025 relating to the contractual interest coupon and the amortization of deferred financing costs of the 2027 Notes (in thousands):
Three Months Ended March 31,
20262025
Contractual coupon interest$3,325 $4,025 
Amortization of deferred financing costs511 502 
Total$3,836 $4,527 
v3.26.1
Net Income Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of numerator and the denominator of the basic and diluted The following tables reconcile the numerator and the denominator of the basic and diluted net income per share computation (in thousands, except for per share data):
Three Months Ended March 31,
20262025
Net income
$75,329 $115,602 
Weighted-average shares outstanding:
Basic25,721 25,741 
Dilutive effect of stock options and RSUs
1,039 1,275 
Dilutive effect of warrants
4,124 2,819 
Dilutive effect of convertible securities
4,396 3,670 
Diluted35,280 33,505 
Earnings per share:
Basic$2.93 $4.49 
Dilutive effect of stock options and RSUs
(0.09)(0.17)
Dilutive effect of warrants
(0.34)(0.38)
Dilutive effect of convertible securities
(0.36)(0.49)
Diluted$2.14 $3.45 
Schedule of excluded from our computation of EPS Set forth below are the securities and the weighted average number of shares of common stock underlying such securities that were excluded from our computation of EPS for the periods presented (in thousands):
Three Months Ended March 31,
20262025
Warrants1,858 3,136 
v3.26.1
Segment Performance Measures and Expenses (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of calculation of net income
The table below provides the calculation of net income, which is the performance measure that is most consistent with GAAP, and the significant operating expenses included in this performance measure (in thousands):

 Three months ended March 31,
 20262025
Revenue$205,416 $210,507 
Less:
Departmental expenses (a)
48,605 41,337 
Depreciation and amortization19,208 18,213 
Intellectual property enforcement
17,505 6,978 
Share-based compensation10,339 9,498 
Revenue share costs27,498 2,649 
Other non-operating expense (income), net (b)
2,467 (387)
Income tax provision4,465 16,617 
Net income$75,329 $115,602 
(a) Includes personnel costs, consulting costs, outside services, administrative costs, and other operating expenses.
(b) Includes interest income, interest expense, and other non-operating income and expenses
v3.26.1
Other Income, Net (Tables)
 3 Months Ended
Mar. 31, 2026
Other Income and Expenses [Abstract]  
Schedule of other income, net
The amounts included in "Other income, net" in the condensed consolidated statements of income for the three months ended March 31, 2026 and 2025 were as follows (in thousands):
Three Months Ended March 31,
20262025
Interest and investment income$10,529 $9,264 
Other(3,929)994 
Other income, net$6,600 $10,258 
v3.26.1
Basis of Presentation - Narrative (Details)
 3 Months Ended
Mar. 31, 2026
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of reportable segments 1
v3.26.1
Basis of Presentation - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Supplemental cash flow information:      
Income taxes paid, including foreign withholding taxes $ 6,462 $ 10,204  
Non-cash investing and financing activities:      
Non-cash acquisition of patents 3,000 13,000  
Dividend payable 18,106 15,577 $ 17,980
Accrued capitalized patent costs and property and equipment purchases (494) 4,470  
Right-of-use assets obtained in exchange of operating lease liabilities 597 0  
Settlement of the 2027 Notes and Hedge Transactions 291,310 0  
Unsettled repurchase of common stock $ 451 $ 411  
v3.26.1
Revenue - Disaggregated Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Total revenue $ 205,416 $ 210,507
Total Revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 205,416 210,507
Increase/(decrease) in disaggregated revenue $ (5,091)  
Percentage increase/(decrease) in disaggregated revenue (as a percent) (2.00%)  
Smartphone    
Disaggregation of Revenue [Line Items]    
Total revenue $ 123,391 183,991
Increase/(decrease) in disaggregated revenue $ (60,600)  
Percentage increase/(decrease) in disaggregated revenue (as a percent) (33.00%)  
CE, IoT/Auto    
Disaggregation of Revenue [Line Items]    
Total revenue $ 81,891 26,267
Increase/(decrease) in disaggregated revenue $ 55,624  
Percentage increase/(decrease) in disaggregated revenue (as a percent) 212.00%  
Other    
Disaggregation of Revenue [Line Items]    
Total revenue $ 134 249
Increase/(decrease) in disaggregated revenue $ (115)  
Percentage increase/(decrease) in disaggregated revenue (as a percent) (46.00%)  
Catch-up revenue    
Disaggregation of Revenue [Line Items]    
Total revenue $ 63,623 $ 84,785
Increase/(decrease) in disaggregated revenue $ (21,162)  
Percentage increase/(decrease) in disaggregated revenue (as a percent) (25.00%)  
v3.26.1
Revenue - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]    
Revenue recognized that had been included in deferred revenue as of the beginning of the period $ 61,400  
Contract assets, current 58,400 $ 19,700
Contract asset $ 27,000 $ 21,000
v3.26.1
Revenue - Remaining Performance Obligation (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 1,973,787
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 393,262
Revenue, remaining performance obligation, expected timing of satisfaction, period 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 512,557
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 416,769
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 356,840
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 220,601
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2031-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 73,758
Revenue, remaining performance obligation, expected timing of satisfaction, period
v3.26.1
Cash, Concentration of Credit Risk and Fair Value of Financial Instruments - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Fair Value Disclosures [Abstract]        
Cash and cash equivalents $ 607,599 $ 738,960 $ 536,639  
Restricted cash included within prepaid and other current assets 9,991 15,308 11,476  
Total cash, cash equivalents, and restricted cash [1] $ 617,590 $ 754,268 $ 548,115 $ 551,547
[1]
Refer to Note 1, "Basis of Presentation," for additional supplemental cash flow information. Additionally, refer to Note 3, "Cash, Concentration of Credit Risk and Fair Value of Financial Instruments" for a reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets.
v3.26.1
Cash, Concentration of Credit Risk and Fair Value of Financial Instruments - Narrative (Details)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Three Largest Licensees | Accounts Receivable | Licensee Concentration Risk    
Concentration Risk [Line Items]    
Accounts receivable percentage (as a percent) 81.00% 55.00%
v3.26.1
Cash, Concentration of Credit Risk and Fair Value of Financial Instruments - Fair Value of Financial Assets and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Assets:        
Total $ 1,091,850 $ 1,258,468    
Cash and cash equivalents [1] 617,590 754,268 $ 548,115 $ 551,547
Commercial paper        
Assets:        
Fair value 111,958 121,361    
U.S. government securities        
Assets:        
Fair value 232,898 240,556    
Corporate bonds, asset backed and other securities        
Assets:        
Fair value 148,322 151,527    
Money market and demand accounts        
Assets:        
Cash and cash equivalents 598,672 745,024    
U.S. government securities        
Assets:        
Cash and cash equivalents 18,900      
Corporate bonds, asset backed and other securities        
Assets:        
Cash and cash equivalents   9,200    
Level 1        
Assets:        
Total 598,672 745,024    
Level 1 | Commercial paper        
Assets:        
Fair value 0 0    
Level 1 | U.S. government securities        
Assets:        
Fair value 0 0    
Level 1 | Corporate bonds, asset backed and other securities        
Assets:        
Fair value 0 0    
Level 1 | Money market and demand accounts        
Assets:        
Cash and cash equivalents 598,672 745,024    
Level 2        
Assets:        
Total 493,178 513,444    
Level 2 | Commercial paper        
Assets:        
Fair value 111,958 121,361    
Level 2 | U.S. government securities        
Assets:        
Fair value 232,898 240,556    
Level 2 | Corporate bonds, asset backed and other securities        
Assets:        
Fair value 148,322 151,527    
Level 2 | Money market and demand accounts        
Assets:        
Cash and cash equivalents 0 0    
Level 3        
Assets:        
Total 0 0    
Level 3 | Commercial paper        
Assets:        
Fair value 0 0    
Level 3 | U.S. government securities        
Assets:        
Fair value 0 0    
Level 3 | Corporate bonds, asset backed and other securities        
Assets:        
Fair value 0 0    
Level 3 | Money market and demand accounts        
Assets:        
Cash and cash equivalents $ 0 $ 0    
[1]
Refer to Note 1, "Basis of Presentation," for additional supplemental cash flow information. Additionally, refer to Note 3, "Cash, Concentration of Credit Risk and Fair Value of Financial Instruments" for a reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets.
v3.26.1
Cash, Concentration of Credit Risk and Fair Value of Financial Instruments - Fair Value of Long-Term Debt (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Technicolor Patent Acquisition Long-Term Debt    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Carrying Value $ 10,500 $ 17,882
Fair Value 11,225 18,178
Convertible Debt | Convertible Notes 2027    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Principal Amount 379,983 459,986
Carrying Value 377,787 456,786
Fair Value $ 1,481,934 $ 1,905,819
v3.26.1
Other Assets and Liabilities - Prepaid and Other Current Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]      
Tax receivables $ 50,565 $ 39,638  
Prepaid assets 30,498 13,335  
Restricted cash 9,991 15,308 $ 11,476
Other current assets 5,437 6,713  
Total Prepaid and other current assets $ 96,491 $ 74,994  
v3.26.1
Other Assets and Liabilities - Other Non-Current Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Tax receivables $ 100,854 $ 98,846
Contract asset 27,000 21,000
Goodwill 24,073 24,073
Right-of-use assets 13,631 13,797
Long-term investments 11,718 11,718
Other non-current assets 31,888 23,091
Total Other non-current assets, net $ 209,164 $ 192,525
v3.26.1
Other Assets and Liabilities - Other Accrued Expenses (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Accrued legal fees $ 20,016 $ 14,008
Other accrued expenses 11,191 8,318
Total Other accrued expenses $ 31,207 $ 22,326
v3.26.1
Other Assets and Liabilities - Other Long-Term Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Deferred compensation liabilities $ 25,927 $ 25,454
Operating lease liabilities 13,435 13,540
Other long-term liabilities 19,548 19,500
Total Other long-term liabilities $ 58,910 $ 58,494
v3.26.1
Obligations - 2027 Notes, and Related Note Hedge and Warrant Transactions Narrative (Details)
$ / shares in Units, shares in Thousands
 1 Months Ended 3 Months Ended
May 27, 2022
USD ($)
$ / shares
Dec. 31, 2025
USD ($)
Mar. 31, 2026
USD ($)
$ / shares
shares
May 25, 2022
shares
Debt Instrument [Line Items]        
Number of securities (in shares)       6,000
Common Stock        
Debt Instrument [Line Items]        
Stock issued, settlement of convertible debt (in shares)     802  
Treasury Stock        
Debt Instrument [Line Items]        
Settlement of the 2027 Hedge (in shares)     802  
3.50% Senior Convertible Notes due 2027 | 2024 Senior Convertible Long-Term Debt        
Debt Instrument [Line Items]        
Principal amount | $ $ 460,000,000.0      
Interest rate (as a percent) 3.50%   3.50%  
Proceeds from debt | $ $ 450,000,000.0      
Debt instrument convertible ratio 0.0129041      
Conversion price (in USD per share) | $ / shares $ 77.49      
Anti-dilution adjustments (in shares)       5,900
Exercise price (in USD per share) | $ / shares     $ 105.55  
Debt conversion, original debt, amount | $   $ 80,000,000.0    
Repayments of debt | $     $ 80,000,000.0  
Stock issued, settlement of convertible debt (in shares)     800  
Settlement of the 2027 Hedge (in shares)     800  
v3.26.1
Obligations - Carrying Value of 2027 Notes (Details) - USD ($)
$ in Thousands, shares in Millions
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
May 27, 2022
Debt Instrument [Line Items]      
Less: Current portion of long-term debt $ (377,787) $ (458,376)  
Long-term net carrying amount of the Convertible Notes 10,500 16,292  
Convertible Debt      
Debt Instrument [Line Items]      
Less: Deferred financing costs (2,196) (3,200)  
Net carrying amount of the Convertible Notes 377,787 456,786  
Less: Current portion of long-term debt (377,787) (456,786)  
Long-term net carrying amount of the Convertible Notes 0 0  
Convertible Debt | 3.50% Senior Convertible Notes due 2027      
Debt Instrument [Line Items]      
Long-term debt, gross $ 379,983 $ 459,986  
Interest rate (as a percent) 3.50%   3.50%
Stock issued, settlement of convertible debt (in shares) 0.8    
v3.26.1
Obligations - Accretion of Debt Discount and Amortization of Financing Costs (Details) - Convertible Debt - 3.50% Senior Convertible Notes due 2027 - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Debt Instrument [Line Items]    
Contractual coupon interest $ 3,325 $ 4,025
Amortization of deferred financing costs 511 502
Total $ 3,836 $ 4,527
v3.26.1
Obligations - Technicolor Patent Acquisition Long-Term Debt and Contingent Consideration Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Jul. 30, 2018
Business Combination [Line Items]      
Payments on long-term debt $ 88,017 $ 1,284  
Technicolor      
Business Combination [Line Items]      
Effective interest rate percentage (as a percent)     14.50%
Interest debt expense 600 300  
Payments on long-term debt $ 8,000 $ 1,300  
Receive future cash receipts percentage (as a percent) 42.50%    
v3.26.1
Litigation and Legal Proceedings (Details)
€ in Thousands, $ in Millions
 1 Months Ended 2 Months Ended 3 Months Ended
May 31, 2026
patent
Mar. 31, 2026
patent
complaint
Feb. 28, 2026
patent
Dec. 31, 2025
patent
Oct. 31, 2025
patent
Jul. 31, 2025
USD ($)
Dec. 31, 2023
patent
Jul. 31, 2026
patent
Dec. 31, 2025
proceeding
Apr. 30, 2025
proceeding
Jan. 31, 2026
EUR (€)
Amazon Litigation, Munich and Mannheim Regional Courts                      
Loss Contingencies [Line Items]                      
Number of patent infringement proceedings | proceeding                 3    
Number of proceedings, trial expected | proceeding                 2    
Amazon Litigation, Mannheim Local Divisional Court and Dusseldorf Local Divisional Court                      
Loss Contingencies [Line Items]                      
Number of patent infringement proceedings | proceeding                 3    
Amazon Litigation, Eastern District of Virginia Proceedings                      
Loss Contingencies [Line Items]                      
Gain contingency, patents allegedly infringed upon, number       4              
Amazon Litigation, Western District of Texas Proceedings                      
Loss Contingencies [Line Items]                      
Gain contingency, patents allegedly infringed upon, number     6                
Walt Disney, Co. Litigation, Brazil Proceedings                      
Loss Contingencies [Line Items]                      
Gain contingency, patents allegedly infringed upon, number         1            
Walt Disney, Co. Litigation, Munich Regional Court                      
Loss Contingencies [Line Items]                      
Number of patent infringement proceedings | proceeding                   4  
Gain contingency, patents found infringed upon, number         1            
Gain contingency, patents found infringed upon, fine imposed for violation of injunction | €                     € 550
Walt Disney, Co. Litigation, Mannheim Local Divisional Court and Dusseldorf Local Divisional Court of the Unified Patent Court                      
Loss Contingencies [Line Items]                      
Number of patent infringement proceedings | proceeding                   4  
Walt Disney Co. Litigation, Mannheim Local Divisional Court | Forecast                      
Loss Contingencies [Line Items]                      
Gain contingency, patents allegedly infringed upon, number 2                    
Gain contingency, patents allegedly infringed upon, hearing scheduled, number 1                    
Walt Disney, Co. Litigation, Dusseldorf Local Divisional Court | Forecast                      
Loss Contingencies [Line Items]                      
Gain contingency, patents allegedly infringed upon, number               2      
Walt Disney And Amazon, Litigation, Central District of California                      
Loss Contingencies [Line Items]                      
Loss contingency, new claims filed, number | complaint   2                  
Number of patents alleged infringement   6                  
Walt Disney, Co. Litigation, Central District of California                      
Loss Contingencies [Line Items]                      
Number of patents alleged infringement   1                  
Walt Amazon, Co. Litigation, Central District of California                      
Loss Contingencies [Line Items]                      
Number of patents alleged infringement   5                  
International Trade Commission and Companion District Court Proceedings                      
Loss Contingencies [Line Items]                      
Gain contingency, patents allegedly infringed upon, number     6                
Loss Contingency, Nontrial Decision, Binding | Samsung Electronics Co. Ltd. | Patents                      
Loss Contingencies [Line Items]                      
Royalties awarded | $           $ 1,050          
Term of payment of awarded royalties           8 years          
Tesla Proceedings                      
Loss Contingencies [Line Items]                      
Number of patents alleged infringement             3        
v3.26.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Tax Disclosure [Abstract]    
Effective tax rate (as a percent) 5.60% 12.60%
Discrete tax expense (benefit), share based payment arrangement $ 10.4 $ 3.9
Income tax paid, foreign, before refund received $ 3.1 $ 3.2
v3.26.1
Net Income Per Share - Numerator and Denominator of Basic and Diluted (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Numerator    
Net income $ 75,329 $ 115,602
Weighted-average shares outstanding:    
Basic (in shares) 25,721 25,741
Diluted (in shares) 35,280 33,505
Earnings per share:    
Basic (in USD per share) $ 2.93 $ 4.49
Diluted (in USD per share) $ 2.14 $ 3.45
Dilutive effect of stock options and RSUs    
Weighted-average shares outstanding:    
Dilutive effect of stock options and RSUs (in shares) 1,039 1,275
Earnings per share:    
Dilutive effect of stock options and RSUs (in USD per share) $ (0.09) $ (0.17)
Dilutive effect of warrants    
Weighted-average shares outstanding:    
Dilutive effect of warrants (in shares) 4,124 2,819
Earnings per share:    
Dilutive effect of warrants (in USD per share) $ (0.34) $ (0.38)
Dilutive effect of convertible securities    
Weighted-average shares outstanding:    
Dilutive effect of convertible securities (in shares) 4,396 3,670
Earnings per share:    
Dilutive effect of convertible securities (in USD per share) $ (0.36) $ (0.49)
v3.26.1
Net Income Per Share - Antidilutive Securities Excluded from Earnings Per Share (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Warrants    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share, amount (in shares) 1,858 3,136
v3.26.1
Segment Performance Measures and Expenses - Narrative (Details)
 3 Months Ended
Mar. 31, 2026
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
Number of operating segments 1
v3.26.1
Segment Performance Measures and Expenses - Operations and the Significant Operating Expenses (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting Information [Line Items]    
Revenue $ 205,416 $ 210,507
Less:    
Share-based compensation 10,339 9,498
Other non-operating expense (income), net (6,600) (10,258)
Income tax provision 4,465 16,617
Net income 75,329 115,602
Reporting Segment    
Segment Reporting Information [Line Items]    
Revenue 205,416 210,507
Less:    
Departmental expenses 48,605 41,337
Depreciation and amortization 19,208 18,213
Intellectual property enforcement 17,505 6,978
Share-based compensation 10,339 9,498
Revenue share costs 27,498 2,649
Other non-operating expense (income), net 2,467 (387)
Income tax provision 4,465 16,617
Net income $ 75,329 $ 115,602
v3.26.1
Other Income, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Other Income and Expenses [Abstract]    
Interest and investment income $ 10,529 $ 9,264
Other (3,929) 994
Other income, net $ 6,600 $ 10,258