InterDigital (IDCC) Updates Guidance for Q4

January 28, 2021 5:31 PM EST

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InterDigital, Inc. (NASDAQ: IDCC), a mobile and video technology research and development company, today provided revenue guidance for fourth quarter 2020.

The company expects total fourth quarter 2020 revenue to be between $87 million and $90 million, which includes between $85 million and $88 million of recurring revenue.

The company also expects that in the fourth quarter 2020 it will recognize one-time charges of approximately $10-11 million, primarily related to on-going patent portfolio management. The one-time charges are expected to bring the sequential increase in operating expenses to approximately $15 million. The company had previously stated an expected increase of $5 million operating expenses over third quarter levels, primarily driven by litigation activities.

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