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Revenue (Tables)
6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Product Category and Market

The following table summarizes revenue by market (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Pay-TV

 

$

58,031

 

 

$

60,371

 

 

$

118,325

 

 

$

124,525

 

Consumer Electronics

 

 

31,716

 

 

 

39,493

 

 

 

68,451

 

 

 

67,583

 

Connected Car

 

 

23,474

 

 

 

20,855

 

 

 

44,022

 

 

 

40,574

 

Media Platform

 

 

13,651

 

 

 

5,484

 

 

 

22,913

 

 

 

12,410

 

Total revenue

 

$

126,872

 

 

$

126,203

 

 

$

253,711

 

 

$

245,092

 

Schedule of Geographic Revenue Information

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

 

 

 

Three Months Ended June 30,

 

 

 

2023

 

 

2022

 

U.S.

 

$

69,133

 

 

 

54

%

 

$

78,409

 

 

 

62

%

Japan

 

 

18,566

 

 

 

15

 

 

 

16,494

 

 

 

13

 

China

 

 

10,527

 

 

 

8

 

 

 

4,163

 

 

 

3

 

Europe and Middle East

 

 

8,416

 

 

 

7

 

 

 

7,048

 

 

 

6

 

Other

 

 

20,230

 

 

 

16

 

 

 

20,089

 

 

 

16

 

Total revenue

 

$

126,872

 

 

 

100

%

 

$

126,203

 

 

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

U.S.

 

$

134,292

 

 

 

53

%

 

$

138,080

 

 

 

56

%

Japan

 

 

36,061

 

 

 

14

 

 

 

32,044

 

 

 

13

 

China

 

 

22,037

 

 

 

9

 

 

 

14,455

 

 

 

6

 

Europe and Middle East

 

 

18,582

 

 

 

7

 

 

 

18,736

 

 

 

8

 

Other

 

 

42,739

 

 

 

17

 

 

 

41,777

 

 

 

17

 

Total revenue

 

$

253,711

 

 

 

100

%

 

$

245,092

 

 

 

100

%

Schedule of Contract Assets

Contract assets were recorded in the Condensed Consolidated Balance Sheets as follows (in thousands):

 

 

June 30, 2023

 

 

December 31, 2022

 

Unbilled contracts receivable, net

 

$

60,068

 

 

$

65,251

 

Other current assets

 

 

534

 

 

 

848

 

Unbilled contracts receivable, noncurrent

 

 

16,840

 

 

 

4,289

 

Other noncurrent assets

 

 

799

 

 

 

978

 

Total contract assets

 

$

78,241

 

 

$

71,366

 

Schedule of Revenue Recognized in Period

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

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Revenue recognized in the period from:

 

 

 

 

 

 

 

 

 

 

 

 

Amounts included in deferred revenue at the beginning of
   the period

 

$

5,547

 

 

$

6,269

 

 

$

12,266

 

 

$

14,601

 

Performance obligations satisfied in previous periods (true
   ups, licensee reporting adjustments and settlements)
(1)(2)

 

$

597

 

 

$

20,830

 

 

$

(1,285

)

 

$

20,866

 

(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. Licensee reporting adjustments 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.

(2) For the three and six months ended June 30, 2022, the Company recorded revenue from both the settlement of a contract dispute with a large mobile imaging customer, and the execution of a long-term license agreement with a leading consumer electronics and over-the-top service provider. The long-term license agreement was effective as of the expiration of the prior agreement, and the Company expected to record revenue from the license agreement in future periods.

Schedule of Remaining Performance Obligations Company’s remaining revenue under contracts with performance obligations was as follows (in thousands):

 

Year Ending December 31:

 

Amounts

 

2023 (remaining 6 months)

 

$

32,688

 

2024

 

 

30,962

 

2025

 

 

17,592

 

2026

 

 

6,173

 

2027

 

 

1,633

 

Thereafter

 

 

1,412

 

Total

 

$

90,460

 

Schedule of Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses for the three and six months ended June 30, 2023 and 2022 (in thousands):

 

 

 

Three Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

Beginning balance

 

$

2,067

 

 

$

350

 

 

$

1,962

 

 

$

369

 

Provision for credit losses

 

 

186

 

 

 

(25

)

 

 

201

 

 

 

(63

)

Recoveries/charge-off

 

 

(41

)

 

 

 

 

 

(358

)

 

 

 

Ending balance

 

$

2,212

 

 

$

325

 

 

$

1,805

 

 

$

306

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

Beginning balance

 

$

1,950

 

 

$

369

 

 

$

2,245

 

 

$

480

 

Provision for credit losses

 

 

322

 

 

 

(44

)

 

 

21

 

 

 

(174

)

Recoveries/charge-off

 

 

(60

)

 

 

 

 

 

(461

)

 

 

 

Ending balance

 

$

2,212

 

 

$

325

 

 

$

1,805

 

 

$

306