InterDigital, Inc. (NASDAQ:IDCC) Q4 2023 Earnings Call Transcript

Chris Madison: This is Chris on for Arjun. Just one quickly for me. Just wanted to touch on — given the strong position the business is in today, does this change the philosophy or approach to investments and capital allocation as going forward in 2024?

Richard Brezski: Yes. So as far as the approach, it really doesn’t change it at all. I mean, our approach has always been — we feel it’s important to keep a strong balance sheet. But we want to make investments where we see substantial opportunity for return. And then beyond that, we tend to — given our cash generation have excess cash, and we want to return that to shareholders, and that’s exactly what we’ve been executing on for the last — well, for many years but certainly over the last year or so.

Operator: There are no more questions in the queue, and I would like to turn the call back over to Liren Chen, CEO, for closing remarks. Please go ahead.

Liren Chen: Yes. Thank you, Lisa. Before we close, I’d like to thank our employees for their dedication and contribution to InterDigital, as well as our many partners and licensees for an outstanding year in 2023. Thank you to everyone who joined the call today, and we look forward to updating you on our progress next quarter.

Operator: Thank you for joining. Everyone may disconnect.