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Revenue (Tables)
12 Months Ended
Dec. 31, 2025
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):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Recognized over time

 

$

320,219

 

 

$

362,713

 

 

$

410,865

 

Recognized at a point in time

 

 

127,886

 

 

 

130,975

 

 

 

110,469

 

Total revenue

 

$

448,105

 

 

$

493,688

 

 

$

521,334

 

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

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Pay-TV

 

$

205,734

 

 

$

259,712

 

 

$

244,708

 

Consumer Electronics

 

 

77,587

 

 

 

81,993

 

 

 

132,355

 

Connected Car

 

 

124,339

 

 

 

111,144

 

 

 

94,864

 

Media Platform

 

 

40,445

 

 

 

40,839

 

 

 

49,407

 

Total revenue

 

$

448,105

 

 

$

493,688

 

 

$

521,334

 

Schedule of Geographic Revenue Information

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

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

Amount

 

 

Percentage of Revenue

 

 

Amount

 

 

Percentage of Revenue

 

 

Amount

 

 

Percentage of Revenue

 

U.S. and Canada (1)

 

$

233,481

 

 

 

52

%

 

$

256,345

 

 

 

52

%

 

$

293,849

 

 

 

56

%

Asia Pacific

 

 

143,231

 

 

 

32

 

 

 

150,654

 

 

 

31

 

 

 

152,248

 

 

 

29

 

Europe, Middle East and Africa

 

 

43,329

 

 

 

10

 

 

 

46,442

 

 

 

9

 

 

 

41,113

 

 

 

8

 

Other

 

 

28,064

 

 

 

6

 

 

 

40,247

 

 

 

8

 

 

 

34,124

 

 

 

7

 

Total revenue

 

$

448,105

 

 

 

100

%

 

$

493,688

 

 

 

100

%

 

$

521,334

 

 

 

100

%

(1)
For the year ended December 31, 2025, 2024, and 2023, the Company recognized $206.3 million, $237.8 million, and $268.0 million of revenue from the U.S., which represented 46%, 48%, and 51% of total revenue for the respective periods.

A significant portion of the Company’s revenue is derived from licensees headquartered outside of the U.S., principally in Asia Pacific and Europe, the Middle East and Africa. Japan, which is part of Asia Pacific, contributed a significant amount of revenue, as shown in the following table (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

Amount

 

 

Percentage of Revenue

 

 

Amount

 

 

Percentage of Revenue

 

 

Amount

 

 

Percentage of Revenue

 

Japan

 

$

73,869

 

 

 

16

%

 

$

80,773

 

 

 

16

%

 

$

83,138

 

 

 

16

%

Schedule of Revenue Recognized in Period

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

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Revenue recognized in the period from:

 

 

 

 

 

 

 

 

 

Amounts included in deferred revenue at the beginning of the period

 

$

23,690

 

 

$

25,202

 

 

$

20,620

 

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

 

$

1,666

 

 

$

9,999

 

 

$

11,863

 

(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 that are generally received in the following period, and may include other changes in estimates. 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 disputes or litigation 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

 

2026

 

$

63,275

 

2027

 

 

27,038

 

2028

 

 

15,872

 

2029

 

 

10,033

 

2030

 

 

7,153

 

Thereafter

 

 

152

 

Total

 

$

123,523

 

Schedule of Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses for the years ended December 31, 2025, 2024, and 2023 (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

 

Accounts Receivable

 

 

Unbilled Contracts Receivable

 

Beginning balance

 

$

946

 

 

$

499

 

 

$

1,906

 

 

$

190

 

 

$

1,950

 

 

$

369

 

Provision for credit losses

 

 

2,221

 

 

 

664

 

 

 

(172

)

 

 

308

 

 

 

497

 

 

 

52

 

Recoveries/charge-off

 

 

(319

)

 

 

(12

)

 

 

(788

)

 

 

1

 

 

 

(541

)

 

 

(231

)

Balance at end of period

 

$

2,848

 

 

$

1,151

 

 

$

946

 

 

$

499

 

 

$

1,906

 

 

$

190