8-K

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, 2020

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)

☐
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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange 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 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 22^nd Annual Needham Growth Conference in New York, NY on January 15, 2020. 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.

99.1 InterDigital, Inc. Investor Presentation dated January 15, 2020.

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/ Richard L. Gulino

Richard L. Gulino

Chief Legal Officer, General

Counsel and Corporate Secretary

Date: January 13, 2020

EX-99.1

Exhibit 99.1

 © 2020 InterDigital, Inc. All Rights Reserved.  InterDigital Needham ConferenceJanuary 15, 2020 

 Agenda  2  Forward-Looking Statements    This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding InterDigital, Inc.’s current beliefs, plans and expectations, as to: (i) future results, projections and trends; (ii) its strategy and business plan; (iii) the company’s future revenues and expenses, including its expectations with respect to full year and fourth quarter 2019 revenues and fourth quarter and full year 2019 operating expenses and capitalization costs; (iv) future recurring cost and recurring revenue levels and the timelines for achieving such levels; (v) investments; (vi) partnerships, commercial initiatives and other potential business and revenue opportunities, including through new markets; (vii) technology development timelines; (viii) future global mobile, video, IoT and consumer electronics device shipments and market opportunities; and (ix) the company’s plans to expand its footprint and engagement strategy. Such statements are subject to the safe harbor created by those sections.Words such as “anticipate,” “believe,” “estimate,” “expect,” “project,” “intend,” “plan,” “forecast,” “will,” variations of any such words or similar expressions, and graphical timelines representing future estimates or events 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, without limitation: (i) the market relevance of our technologies; (ii) changes in the needs, availability, pricing and features of competitive technologies as well as those of strategic partners or consumers; (iii) unanticipated technical or resource difficulties or delays related to further development of our technologies; (iv) the entry into additional patent license, patent sales or technology solutions agreements; (v) our ability to successfully identify and launch new commercial businesses; (vi) our ability to successfully identify and expand into new markets; (vii) our ability to enter into partnerships, strategic relationships or complementary investment opportunities on acceptable terms; (viii) the accuracy of market sales projections of the company's licensees, changes in our estimates of fourth quarter 2019 sales by our per-unit licensees, delays in payments from our licensees and related matters; (ix) the resolution of current legal proceedings, including any awards or judgments relating to such proceedings, additional legal proceedings, changes in the schedules or costs associated with legal proceedings or adverse rulings in such legal proceedings; (x) unanticipated costs or expenses; (xi) changes in the company’s strategy going forward; and (xii) changes or inaccuracies in market projections or technology development timelines, as well as other risks and uncertainties, including those detailed in our Annual Report on Form 10-K for the year ended December 31, 2018, and from time to time in our other Securities and Exchange Commission filings. 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.  © 2020 InterDigital, Inc. All Rights Reserved. 

 Why InterDigital, More than Ever  One of the largest pure research, innovation and licensing companies in the world  3      Over four decades of pioneeringwireless innovationNow expanded to consumer electronics with a world-class video and AI research team Brought to market through substantial contributions to global standardsThe result: new innovation in products, services and networks worldwideWith our contributions protected by one of largest patent portfolios in the world related to wireless and video technologies  © 2020 InterDigital, Inc. All Rights Reserved. 

   \  InterDigital Research & Innovation  4  A world-class R&D lab that drives InterDigital’s technology development and is a respected participant in international standards & industry activities  In Our Labs5G & Beyond Cellular StandardsMobile Edge ComputingSpectrum Sharing & Unlicensed SpectrumAdvanced Video Standards & PlatformsImmersive and Volumetric VideoArtificial Intelligence / Machine LearningIoT Standards & PlatformsIntelligent & Autonomous VehiclesDrones / UAVs / Robotics  VideoTechnology  IoT  © 2020 InterDigital, Inc. All Rights Reserved. 

 5  © 2020 InterDigital, Inc. All Rights Reserved.    With the expansion into video technologies, InterDigital joins a select group with major standards positions in both wireless and video – perfectly aligned with converged wireless/video devices  VIDEO  WIRELESS 

 Contributing Technology Worldwideon Two Major Fronts    6    ~5,000  contributions to 3GPP & IETF in past 20 years  >180 engineers, 80% with advanced degrees, from all over the world    >100 leadership roles in standards, external boards and invited speaking opportunities in 2019 alone  $1B+ invested in R&D since 2000  © 2020 InterDigital, Inc. All Rights Reserved.  25+ years of experience in video compression solutions    >50/yr journal and conference papers published  >100/yr  contributions to standards bodies  Unquestioned research leadership  in wireless…  and video 

                       In studies by third-party analysts we’re aware of since 2012 that have evaluated the share of patents and applications that are likely essential to 3G and/or 4G standards...  InterDigital did not fund any of these studies. InterDigital does not endorse any particular study or the methodology used by any of these studies, nor does InterDigital endorse a patent counting approach to determining the value of its portfolio and does not subscribe to the idea that all SEPs have an equal value.  7  © 2020 InterDigital, Inc. All Rights Reserved.  InterDigital’s share of likely 4G SEPs ranges from 7% – 10%,   InterDigital appeared in the top 4 among patent holders more than 70% of the time – among the highest percentage of any company  InterDigital’s share of likely 3G SEPs averages close to 10%,   with InterDigital’s LTE portfolio ranked between the third and fifth strongest in the industry.  and averages more than 8% across these studies,  8%   7% –10%  and our 3G SEP portfolio was ranked as either the second or third strongest among all industry participants.  10%   Consistent Leadershipin Major Cellular Standards   

 8  Video Innovation Captured in Today’s Standards… and Tomorrow’s Solutions  © 2020 InterDigital, Inc. All Rights Reserved.  With the acquisition of the Research & Innovation organization from global video and production services leader Technicolor, InterDigital becomes a key player in light field and immersive technology, point cloud compression, VR and AR production technology, digital doubles, and video encoding/decoding… as well as the key standards in the industry. 

 A Portfolio that Combines Depth and Breadth Across Technologies  The InterDigital portfolio now brings together >32,000 patent assets that show enormous strength in key wireless and video technologies but also broad diversity across the entire gamut of technology needs.  9  Data as of 12/31/18  © 2020 InterDigital, Inc. All Rights Reserved.  5G standards are in their earliest stages, but:Our 5G portfolio is already at close to the size of our 4G portfolioOnly 2 releases of the 5G standard have been finalized – we expect as many as 7 moreThe 5G standard comprises a mix of new 5G-specific applications and 3G/4G technologies that remain relevantWe’re confident we’re in the top tier of 5G players! 

       10  © 2020 InterDigital, Inc. All Rights Reserved.  Driving a Massive Technology Position on Today’s Smartphones  CONNECTED DEVICES  CONSUMERELECTRONICS  INTERNETOF THINGS    5G (NR): ~5,000 PATENTS/APPLICATIONS  4G (LTE): ~7,000 PATENTS/APPLICATIONS  3G (UMTS): >3,000 PATENTS/APPLICATIONS  Wi-Fi (802.11): ~1,300 PATENTS/APPLICATIONS  HEVC: ~2,000 PATENTS/APPLICATIONS 

 … Which Can Be Expanded Into Three Interconnected Licensing Opportunities  11  © 2020 InterDigital, Inc. All Rights Reserved.        CONNECTED DEVICES  CONSUMERELECTRONICS  INTERNETOF THINGS    4G (LTE): ~7,000 PATENTS/APPLICATIONS  3G (UMTS): >3,000 PATENTS/APPLICATIONS  Wi-Fi (802.11): ~1,300 PATENTS/APPLICATIONS  HEVC: ~2,000 PATENTS/APPLICATIONS  5G (NR): ~5,000 PATENTS/APPLICATIONS 

 … Which Can Be Expanded Into Three Interconnected Licensing Opportunities  12  © 2020 InterDigital, Inc. All Rights Reserved.        CONNECTED DEVICES  CONSUMERELECTRONICS  INTERNETOF THINGS    5G (NR): ~5,000 PATENTS/APPLICATIONS  4G (LTE): ~7,000 PATENTS/APPLICATIONS  3G (UMTS): >3,000 PATENTS/APPLICATIONS  Wi-Fi (802.11): ~1,300 PATENTS/APPLICATIONS  HEVC: ~2,000 PATENTS/APPLICATIONS 

 Growth Drivers that Build Logically Over Several Years  13    Projected2019 Revenue of $308.8-$316.8M  A projected $150M contribution to revenue in 3-5 years (with associated revenue sharing)  An installed base of >62B devices by 2022, of which >10% will be high-value devices using cellular, as well as IoT middleware  A new market paradigm, that expands cellular wireless beyond handsets into a broad variety of areas and use cases         LTE CYCLE + VIDEO            CONSUMER ELECTRONICS  IoT  5G  Drive core smartphone recurring annual revenue base to $500M+  © 2020 InterDigital, Inc. All Rights Reserved.  Based on Q4 guidance press release dated 1/6/20. Term of LG license, representing ~10% of 2019 revenue, expires EOY 2020. 

 A Capital Allocation Strategy that Balances Future Strength with Returning Value  14  © 2020 InterDigital, Inc. All Rights Reserved.  Since June 2014, we’ve bought back more than $600 million in sharesWe announced another $100 million increase to our buyback authorization in May 2019Approximately $72 million remains available under the existing buyback authorization  Show Strength  Ensure R&D Progress  Return Cash to Shareholders  Opportunistic Resources  As a smaller company engaging in licensing discussions with industry giants, a strong balance sheet shows staying power  Given the speed of the tech industry, once a company steps off the R&D treadmill, it’s almost impossible to step back on  3 dividend increases in 5 years and strategic buyback program ensure balanced return of value to shareholders  With the Technicolor acquisition completed, some more modest acquisitions or portfolio opportunities remain 

 © 2020 InterDigital, Inc. All Rights Reserved. 

XML

Document and Entity Information	Jan. 13, 2020
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 13, 2020
Entity Registrant Name	INTERDIGITAL, INC.
Entity Incorporation, State or Country Code	PA
Entity File Number	1-33579
Entity Tax Identification Number	82-4936666
Entity Address, Address Line One	200 Bellevue Parkway
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Wilmington
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19809-3727
City Area Code	302
Local Phone Number	281-3600
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001405495
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	IDCC
Security Exchange Name	NASDAQ