GlobeNewswire Inc | Mar 18, 2021 08:30AM EDT

March 18, 2021

WILMINGTON, Del., March 18, 2021 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today provided revenue guidance for first quarter 2021.

The company expects first quarter 2021totalrevenue to be between $77 million and $81 million, which includes revenue from one Consumer Electronics license agreement signed during the quarter.

Richard J.Brezski, Chief Financial Officer,InterDigital noted,We expect our revenue this quarter to exceed our first quarter 2020 revenue of $76.2 million, which highlights the benefits of having a broader and more diverse licensing program.

This revenue guidancedoes not include the potential impact of any new patent license, technology solutions or patent sale agreements that may be signed, or any arbitration or dispute resolutions that may occur, during the balance of first quarter 2021.

About InterDigital

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400 index.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the companys current expectations with respect to first quarter 2021 revenue. Words such as expects, projects, forecasts, anticipates, and variations of such words or similar expressions are intended to identify such forward-looking statements.

Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors, including, but not limited to: (i) the entry into additional patent license, patent sales or technology solutions agreements; (ii) the accuracy of market sales projections of the companys licensees, changes in our estimates of first quarter 2021 sales by our per-unit licensees, delays in payments from our licensees and related matters; (iii) amounts of royalties payable following routine audits, if any, and the timely receipt of such amounts during first quarter 2021; (iv) the timing, expenses, and outcome of the companys litigation and arbitration proceedings and the timely receipt of any related awards; (v) new developments in the companys litigation or arbitration proceedings; (vi) changes in our interpretations of, and assumptions and calculations with respect to the impact on the company of, the Tax Reform Act, as well as further guidance that may be issued regarding the Tax Reform Act; and (vii) the potential effects that the ongoing COVID-19 pandemic could have on our financial position, results of operations and cash flows. We undertake no duty to update publicly any forward-looking statement, whetheras a result ofnew information, future events or otherwise except as may be required by applicable law, regulation or other competent legal authority.

InterDigital is a registered trademark of InterDigital, Inc.

For more information, visit: www.interdigital.com.

InterDigital Contact:Tiziana FiglioliaEmail: tiziana.figliolia@interdigital.com+1 (302) 300-1857