ParkerVision posts Q1 net income of $13.1M on $25M patent license revenue

PARKERVISION INC

2023-Q1 EPS reported $0.11 revenue$25,000,000

Revenue of $25M from patent license/settlement agreements; net income $13.1M ($0.16/share) vs $0.3M ($0.00) YoY.
Operating expenses rose $10.2M YoY due to contingent legal fees tied to licensing revenue.
Received $5M in new litigation funding on May 4, 2023 for working capital; expects no near-term equity raise.
Resolved patent cases against Buffalo, Zyxel, Hisense, Intel; awaits Qualcomm appeal hearing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARKERVISION INC reported the three months ended March 31, 2023 results: revenue $25 million, net income $13.1 million, EPS $0.16 per common share.

Period: the three months ended March 31, 2023
Revenue: $25 million
Net income: $13.1 million
EPS: $0.16 per common share
Result: reported results

Exact text from the filing

The Company recognized $25 million in revenue from patent license and settlement agreements and, after recognizing contingent legal fees and expenses, reported net income of $13.1 million in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001437749-23-014558

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