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InterDigital: 85% Smartphone Market Coverage & 6G Ambitions—Is This IP Monetization Story Still Underrated?

InterDigital Corporation reported solid financial and operational results for the first quarter of 2026, demonstrating sustained momentum across its key business areas. The company achieved revenue of $205 million, exceeding its guidance range of $194 million to $200 million. Adjusted EBITDA reached $112 million with a margin of 54%, also above expectations. GAAP diluted EPS was $2.14, surpassing the guidance range of $1.61 to $1.86, while non-GAAP EPS stood at $2.57. Annualized recurring revenue (ARR) increased by 13% year-over-year to $567 million, driven largely by gains in the smartphone program, which posted a record ARR of $492 million. InterDigital’s licensing strategy remains a core strength, with six new agreements signed during the quarter and a renewal with Xiaomi, the third-largest smartphone manufacturer globally. With this renewal, the company now has licenses covering eight of the top ten smartphone manufacturers, representing approximately 85% of the global market.