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Revenue (Tables)
3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Product Category and Timing of Recognition

The following table summarizes revenue by timing of recognition (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Recognized over time

 

$

96,682

 

 

$

100,213

 

Recognized at a point in time

 

 

22,162

 

 

 

26,626

 

Total revenue

 

$

118,844

 

 

$

126,839

 

The following table summarizes revenue by product category (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Pay-TV

 

$

56,806

 

 

$

60,294

 

Consumer Electronics

 

 

26,128

 

 

 

36,735

 

Connected Car

 

 

24,348

 

 

 

20,548

 

Media Platform

 

 

11,562

 

 

 

9,262

 

Total revenue

 

$

118,844

 

 

$

126,839

 

Schedule of Geographic Revenue Information

The following table summarizes revenue by geographic location (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

U.S.

 

$

59,799

 

 

 

50

%

 

$

65,159

 

 

 

51

%

Japan

 

 

12,037

 

 

 

10

 

 

 

17,495

 

 

 

14

 

Europe and Middle East

 

 

13,475

 

 

 

11

 

 

 

10,166

 

 

 

8

 

China

 

 

12,787

 

 

 

11

 

 

 

11,510

 

 

 

9

 

Latin America

 

 

6,917

 

 

 

6

 

 

 

6,623

 

 

 

5

 

Other

 

 

13,829

 

 

 

12

 

 

 

15,886

 

 

 

13

 

Total revenue

 

$

118,844

 

 

 

100

%

 

$

126,839

 

 

 

100

%

Schedule of Revenue Recognized in Period

The following table presents additional revenue disclosures (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Revenue recognized in the period from:

 

 

 

 

 

 

Amounts included in deferred revenue at the beginning of
   the period

 

$

7,266

 

 

$

6,719

 

Performance obligations satisfied in previous periods (true
   ups, recoveries, and settlements)
(1)

 

$

3,009

 

 

$

(1,881

)

(1) True ups represent the differences between the Company’s quarterly estimates of per-unit royalty revenue and actual production/sales-based royalties reported by licensees in the following period. Recoveries represent corrections or revisions to previously reported per-unit royalties by licensees, generally resulting from the Company’s inquiries or compliance audits. Settlements represent resolutions of litigation or disputes during the period for past royalties owed.

Schedule of Remaining Performance Obligations Company’s remaining performance obligations and the period over which they are expected to be recognized were as follows (in thousands):

 

Year Ending December 31:

 

Amounts

 

2024 (remaining 9 months)

 

$

43,800

 

2025

 

 

31,234

 

2026

 

 

13,891

 

2027

 

 

3,899

 

2028

 

 

2,038

 

Thereafter

 

 

966

 

Total

 

$

95,828

 

Schedule of Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses for the three months ended March 31, 2024 and 2023 (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

Beginning balance

 

$

1,906

 

 

$

190

 

 

$

1,950

 

 

$

369

 

Provision for credit losses

 

 

798

 

 

 

58

 

 

 

136

 

 

 

(19

)

Recoveries/charge-off

 

 

164

 

 

 

(3

)

 

 

(19

)

 

 

 

Ending balance

 

$

2,868

 

 

$

245

 

 

$

2,067

 

 

$

350