Revenue (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| 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 June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Licensing and other revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Recognized over time |
|
$ |
67,753 |
|
|
$ |
78,315 |
|
|
$ |
135,425 |
|
|
$ |
153,698 |
|
Recognized at a point in time |
|
|
31,757 |
|
|
|
17,892 |
|
|
|
70,932 |
|
|
|
50,531 |
|
Total licensing and other revenue |
|
|
99,510 |
|
|
|
96,207 |
|
|
|
206,357 |
|
|
|
204,229 |
|
Advertising and related revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Recognized over time |
|
|
3,169 |
|
|
|
2,817 |
|
|
|
6,053 |
|
|
|
5,662 |
|
Recognized at a point in time |
|
|
11,813 |
|
|
|
6,909 |
|
|
|
16,288 |
|
|
|
10,075 |
|
Total advertising and related revenue |
|
|
14,982 |
|
|
|
9,726 |
|
|
|
22,341 |
|
|
|
15,737 |
|
Total revenue |
|
$ |
114,492 |
|
|
$ |
105,933 |
|
|
$ |
228,698 |
|
|
$ |
219,966 |
|
The following table summarizes revenue by product category (in thousands):
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|
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|
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|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Pay-TV |
|
$ |
44,665 |
|
|
$ |
49,937 |
|
|
$ |
90,640 |
|
|
$ |
99,801 |
|
Consumer Electronics |
|
|
12,237 |
|
|
|
18,763 |
|
|
|
30,668 |
|
|
|
41,561 |
|
Connected Car |
|
|
40,070 |
|
|
|
25,105 |
|
|
|
78,134 |
|
|
|
58,391 |
|
Media Platform |
|
|
17,520 |
|
|
|
12,128 |
|
|
|
29,256 |
|
|
|
20,213 |
|
Total revenue |
|
$ |
114,492 |
|
|
$ |
105,933 |
|
|
$ |
228,698 |
|
|
$ |
219,966 |
|
Revenue is attributed to geographic location based on the billing address of the customers.
|
| Schedule of Geographic Revenue Information |
The following table summarizes revenue by geographic location (in thousands):
|
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|
|
|
|
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|
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|
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|
Three Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
|
Amount |
|
|
Percentage of Revenue |
|
|
Amount |
|
|
Percentage of Revenue |
|
U.S. and Canada (1) |
|
$ |
58,888 |
|
|
|
51 |
% |
|
$ |
60,389 |
|
|
|
57 |
% |
Asia Pacific |
|
|
42,086 |
|
|
|
37 |
|
|
|
31,660 |
|
|
|
30 |
|
Europe, Middle East and Africa |
|
|
6,675 |
|
|
|
6 |
|
|
|
8,119 |
|
|
|
8 |
|
Other |
|
|
6,843 |
|
|
|
6 |
|
|
|
5,765 |
|
|
|
5 |
|
Total revenue |
|
$ |
114,492 |
|
|
|
100 |
% |
|
$ |
105,933 |
|
|
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
|
Amount |
|
|
Percentage of Revenue |
|
|
Amount |
|
|
Percentage of Revenue |
|
U.S. and Canada (1) |
|
$ |
109,780 |
|
|
|
48 |
% |
|
$ |
110,100 |
|
|
|
50 |
% |
Asia Pacific |
|
|
88,735 |
|
|
|
39 |
|
|
|
78,604 |
|
|
|
36 |
|
Europe, Middle East and Africa |
|
|
16,803 |
|
|
|
7 |
|
|
|
18,198 |
|
|
|
8 |
|
Other |
|
|
13,380 |
|
|
|
6 |
|
|
|
13,064 |
|
|
|
6 |
|
Total revenue |
|
$ |
228,698 |
|
|
|
100 |
% |
|
$ |
219,966 |
|
|
|
100 |
% |
(1) For the three months ended June 30, 2026 and 2025, the Company recognized $55.3 million and $55.8 million of revenue from the U.S., which represented 48% and 53% of total revenue for the respective periods. For the six months ended June 30, 2026 and 2025, revenue from the U.S. was $102.5 million and $101.2 million, or 45% and 46% of total revenue, for the respective periods. The Asia Pacific region accounts for a significant amount of revenue. The following table summarizes revenue recognized from the countries within this region (in thousands):
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
|
Amount |
|
|
Percentage of Revenue |
|
|
Amount |
|
|
Percentage of Revenue |
|
South Korea |
|
$ |
25,252 |
|
|
|
22 |
% |
|
$ |
6,454 |
|
|
|
6 |
% |
Japan |
|
$ |
12,916 |
|
|
|
11 |
% |
|
$ |
12,773 |
|
|
|
12 |
% |
China |
|
$ |
1,205 |
|
|
|
1 |
% |
|
$ |
11,167 |
|
|
|
11 |
% |
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
|
Amount |
|
|
Percentage of Revenue |
|
|
Amount |
|
|
Percentage of Revenue |
|
Japan |
|
$ |
43,155 |
|
|
|
19 |
% |
|
$ |
30,562 |
|
|
|
14 |
% |
South Korea |
|
$ |
30,143 |
|
|
|
13 |
% |
|
$ |
19,211 |
|
|
|
9 |
% |
China |
|
$ |
10,972 |
|
|
|
5 |
% |
|
$ |
26,001 |
|
|
|
12 |
% |
|
| Schedule of Revenue Recognized in Period |
The following table presents additional revenue disclosures (in thousands):
|
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|
|
|
|
|
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|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Revenue recognized in the period from: |
|
|
|
|
|
|
|
|
|
|
|
|
Amounts included in deferred revenue at the beginning of
the period |
|
$ |
3,889 |
|
|
$ |
6,575 |
|
|
$ |
9,692 |
|
|
$ |
14,614 |
|
Performance obligations satisfied in previous periods (true
ups, recoveries, and settlements) (1) |
|
$ |
681 |
|
|
$ |
2,080 |
|
|
$ |
(2,315 |
) |
|
$ |
1,295 |
|
(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 reports 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 (remaining 6 months) |
|
$ |
37,509 |
|
2027 |
|
|
31,640 |
|
2028 |
|
|
17,640 |
|
2029 |
|
|
11,390 |
|
2030 |
|
|
7,870 |
|
Thereafter |
|
|
566 |
|
Total |
|
$ |
106,615 |
|
|
| 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, 2026 and 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
|
Accounts Receivable |
|
|
Unbilled Contracts Receivable |
|
|
Accounts Receivable |
|
|
Unbilled Contracts Receivable |
|
Beginning balance |
|
$ |
2,921 |
|
|
$ |
871 |
|
|
$ |
1,072 |
|
|
$ |
450 |
|
Provision for credit losses |
|
|
657 |
|
|
|
(301 |
) |
|
|
27 |
|
|
|
22 |
|
Recoveries/charge-off |
|
|
(4 |
) |
|
|
— |
|
|
|
(145 |
) |
|
|
(4 |
) |
Ending balance |
|
$ |
3,574 |
|
|
$ |
570 |
|
|
$ |
954 |
|
|
$ |
468 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
|
Accounts Receivable |
|
|
Unbilled Contracts Receivable |
|
|
Accounts Receivable |
|
|
Unbilled Contracts Receivable |
|
Beginning balance |
|
$ |
2,848 |
|
|
$ |
1,151 |
|
|
$ |
946 |
|
|
$ |
499 |
|
Provision for credit losses |
|
|
775 |
|
|
|
(581 |
) |
|
|
229 |
|
|
|
(22 |
) |
Recoveries/charge-off |
|
|
(49 |
) |
|
|
— |
|
|
|
(221 |
) |
|
|
(9 |
) |
Ending balance |
|
$ |
3,574 |
|
|
$ |
570 |
|
|
$ |
954 |
|
|
$ |
468 |
|
|