InterDigital reported $567.2 million in annualized recurring revenue, up 13% YoY, driven by six new agreements including Xiaomi.
InterDigital (NASDAQ:IDCC) exceeded first-quarter 2026 guidance, posting $567.2 million in annualized recurring revenue, a 13% year-over-year increase. Smartphone ARR surged 18% to $491.8 million, supported by $63.6 million in catch-up revenue from new licensing deals.
The company signed six agreements, including a renewal with Xiaomi, pushing cumulative contract value to $4.7 billion over five years. Operating expenses rose $44.5 million due to higher revenue-sharing costs and IP enforcement spending.
InterDigital reaffirmed its full-year revenue outlook of $675 million to $775 million and projected Q2 revenue between $139 million and $143 million.