8-K - IDCC - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): January 13, 2022

INTERDIGITAL, INC.

(Exact name of Registrant as Specified in Charter)

Pennsylvania	1-33579	82-4936666
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

200 Bellevue Parkway, Suite 300

Wilmington, DE 19809-3727

(Address of principal executive offices, Zip code)

302-281-3600

Registrant's telephone number, including area code

Not Applicable

Former Name or Former Address, if Changed Since Last Report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading<br><br> <br>Symbol(s)	Name of each exchange<br><br> <br>on which registered
Common Stock, par value $0.01 per share	IDCC	NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01.	Regulation FD Disclosure.

The slide presentation attached hereto as Exhibit 99.1 will be presented by InterDigital, Inc. (the “Company”) at the 24^th^ Annual Needham Virtual Growth Conference on January 13, 2022. The presentation may also be used by the Company at future investor conferences or meetings.

The information in this report, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report.

Item 9.01.	Financial Statements and Exhibits.
(d)	Exhibits.
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99.1	InterDigital, Inc. Investor Presentation.
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104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INTERDIGITAL, INC.
By:	/s/ Joshua D. Schmidt
Joshua D. Schmidt
Chief Legal Officer and Corporate Secretary

Date: January 13, 2022

Exhibit 99.1

Forward-looking Statements 2 © 2022 InterDigital, Inc. All Rights Reserved. This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding our current beliefs, plans and expectations, including, without limitation, as to projections and trends, our strategy and business plan, our future revenues and expenses and commercial initiatives and other potential business and revenue opportunities. Words such as “believe,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “forecast,” “goal,” “see,” and variations of any such words or similar expressions are intended to identify such forward-looking statements.Forward-looking statements are subject to risks and uncertainties, including those described in the “Risk Factors” sections of our Annual Report on Form 10-K for the year ended December 31, 2020 and our Quarterly Report on Form 10-Q for third quarter 2021, and from time to time in our other filings with the Securities and Exchange Commission. Actual outcomes could differ materially from those expressed in or anticipated by such forward- looking statements due to a variety of factors, including, without limitation: (i) unanticipated delays, difficulties or accelerations in the execution of patent license agreements; (ii) our ability to leverage our strategic relationships and secure new patent license agreements on acceptable terms; (iii) our ability to enter into sales and/or licensing partnering arrangements for certain of our patent assets; (iv) our ability to enter into partnerships with leading inventors and research organizations and identify and acquire technology and patent portfolios that align with our roadmap; (v) our ability to commercialize our technologies and enter into customer agreements; (vi) the failure of the markets for our current or new technologies and products to materialize to the extent or at the rate that we expect; (vii) unexpected delays or difficulties related to the development of our technologies and products; (viii) changes in our interpretations of, and assumptions and calculations with respect to the impact on us of, the 2017 Tax Cuts and Jobs Act, as well as further guidance that may be issued regarding such act; (ix) failure to accurately forecast the impact of our restructuring activities on our financial statements and our business; (x) the resolution of current legal or regulatory proceedings, including any awards or judgments relating to such proceedings, additional legal or regulatory proceedings, changes in the schedules or costs associated with legal or regulatory proceedings or adverse rulings in such legal or regulatory proceedings; (xi) the timing and impact of potential administrative and legislative matters; (xii) changes or inaccuracies in market projections; (xiii) the potential effects that the ongoing COVID-19 pandemic and/or corresponding macroeconomic uncertainty could have on our financial position, results of operations and cash flows; and (ix) changes in our business strategy. We undertake no duty to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.

A Leading Pure Research and Licensing Company With five decades of groundbreaking innovation in key wireless technologies and a dramatic expansion into visual technology and AI over the past few years, InterDigital is a recognized research and licensing leader +20% of our annual revenue invested in research & development 3 © 2022 InterDigital, Inc. All Rights Reserved. ~80 licensees, including Apple, Huawei, Samsung, Sony and Xiaomi ~1/2 of our employees are engineers~90% of engineers are inventorsaa employee data as of June 2021

Why InterDigital We Invent the Technologies that Make Life BoundlessOur Strength: Five decades of pioneering wireless and visual technologies innovationOur Business Model: Develop and share core technology through the global standard process and license related IP to the companies that use itOur Competitive Edge: One of strongest patent portfolios in the world with the combination of wireless, video, andAI technologiesThe Result: Licensing over 6 billion connected devices products, including smartphones, TVs, set top boxes, and laptops in the past 10 years alone 4 © 2022 InterDigital, Inc. All Rights Reserved.

Standards Standards innovation improves all device and service markets Success based on research, not commercial clout "Sell” to engineers and research peers, not companies Standards reward long-term commitment The Path toHorizontal Influence 5 © 2022 InterDigital, Inc. All Rights Reserved.

A History of Long-Term & New Customers Shipments Years as InterDigital Licensee 10+ Years >10 others Amongst our ~80 customers, some have been under license for 20+ years, i.e. Panasonic, NEC, Kyocera and SharpApple and Samsung have been licensed since before they started shipping iPhones and GalaxiesMore recent successes with China-based vendors Every handset customerthat has ever signed a license and plans to stay in the industry is still a customer 6 © 2022 InterDigital, Inc. All Rights Reserved.

Licensing Momentum 13 ~800M >6B New licenses in ‘21,more than double ‘20Includes Xiaomi, Sony, Vizio, Sharp;Three quarters of '21 licenses included video technology 7 © 2022 InterDigital, Inc. All Rights Reserved. Projected licensed devices in 2021One of the largest licensing programs in the world Licensed devices in the past 10 yearsIncluding long term customers

Smartphone Global Manufacturers Market Samsung Apple Xiaomi Huawei Other 0 200 400 600 800 1000 1200 Under Contract 2021 Unlicensed Source: Counterpoint 2021 Forecast Units (‘000) Oppo Vivo Lenovo 1400TAM Other 8 © 2022 InterDigital, Inc. All Rights Reserved.

Growth Drivers that Build Logically Over Several Years Cumulative Revenue Platform Opportunity of ~$650M Recurring revenue opportunity$150M Upside Opportunity: 5G enable new use cases, +8B new cellular enabled devices by 2025(1) SMARTPHONESCONSUMER ELECTRONICS NEW USE CASES (1) Source: OMDIA 9 © 2022 InterDigital, Inc. All Rights Reserved. Increasing 5G adoption drive core smartphone recurring annual revenue base to $500M+

5G: The Power of Continuity The 5G standard comprises a mix of new 5G-specific technologies and 3G/4G technologies that remain necessary for 5G operationOnly 2 releases of the 5G standard have been finalized – we expect as many as 7 or moreWe continue to be a leader in fundamental cellular research and believe we enable more value in 5G devices than any prior generation * InterDigital expresses no views on the accuracy or completeness of the data in the ETSI Special Report and notes that the data may include patents and applications that have been abandoned or have expired. InterDigital ranks among the industry leaders for ETSI-disclosed patents and applications as potentially essential to 5G standards.* 10 © 2022 InterDigital, Inc. All Rights Reserved.

Research & Innovation: Driving Leadership 70+ leadership positions in various standard bodies, including key positions in 3GPP, ETSI, ITU, IEEE and MPEG among othersIn 2021, InterDigital’s AdvantEDGE platform was awarded Best Innovation in Emerging Technology at the Small Cells Forum Awards – 10 award wins and 6 additional shortlistings in the past 5 years 11 © 2022 InterDigital, Inc. All Rights Reserved.

A Patent Portfolio that Combines Depth and Breadth The InterDigital portfolio brings togetherNearly 28,000 patent assets that show enormous strength in key wireless and video technologies but also broad diversity across a range of technology areas Data as of 31-Dec-2021 12 © 2022 InterDigital, Inc. All Rights Reserved.

Nearly $650M returned to shareholders since the beginning of 2016 Capital Allocation Show Strength Ensure R&D Progress Return Cash to Shareholders Opportunistic Resources A strong balance sheet shows staying power in negotiations Essential to keep pace with fast-moving industryStock buybackApproximately $400M in share repurchases since the beginning of 2016Basic share count net reduction by 4.8M shares(~14%)DividendsAlmost $250M in dividends paid at above average NASDAQ yieldsExpansion to CE and IoT markets, added AI/ML Capabilities 13 © 2022 InterDigital, Inc. All Rights Reserved.

IMPACT:Leading by Example with ESG InterDigital understands the role our company must play in driving a better society.In 2021, we launched a sustainability website and collaborative research effort, and published our first sustainability report.We are committed to pursuing sustainability as a way of doing business. 14 © 2022 InterDigital, Inc. All Rights Reserved.