InterDigital Tops Q4 Consensus Aided By Incremental Revenue From New Patent License Agreements - InterDigital (NASDAQ:IDCC)

InterDigital Inc IDCC reported a fourth-quarter FY21 revenue growth of 23% year-on-year to $111.8 million, beating the consensus of $101.5 million.
Recurring revenue rose 14% Y/Y to $101.6 million due to additional revenues from new patent license agreements signed in 2021.
Total patent royalties increased 27.7% Y/Y to $111.4 million, and Fixed-fee royalty revenue climbed 18.4% Y/Y to $91.7 million.
The operating profit climbed 715% Y/Y as expenses remained flattish.
EPS of $0.70 beat the consensus of $0.34.
InterDigital generated $71.2 million in operating cash flow and held $948.6 million in cash and equivalents.
"We closed 2021 by signing five license agreements in the fourth quarter, bringing the total number of new license agreements, including renewals, for the year up to a record of 13," said Liren Chen, CEO.
Outlook: InterDigital sees Q1 FY22 revenue of $95 million - $100 million versus the consensus of $99.8 million.
Price Action: IDCC shares traded higher by 0.10% at $68.88 on the last check Thursday.