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Parkervision Inc. (PRKR-12.28%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Parkervision's focus on innovating and licensing wireless technologies, with ongoing patent enforcement actions against various companies for alleged infringement of its RF patents.
The company reported no licensing revenue for 2024, compared to $25 million in 2023, resulting from patent license and settlement agreements.
Selling, general, and administrative expenses decreased to $4.3 million from $14.7 million, primarily due to a reduction in litigation fees and expenses.
The fair value of the company's secured contingent payment obligation increased to $40.7 million, reflecting changes in estimated future cash flows due to litigation developments.
Parkervision's net loss for the year was $14.5 million, compared to a net income of $9.5 million in 2023, attributed to the absence of licensing revenue and increased fair value of contingent obligations.
The company continues to face substantial doubt about its ability to continue as a going concern, with significant losses and negative cash flows reported.
Parkervision's liquidity and capital resources remain a concern, with cash and cash equivalents of $4.9 million and working capital of $2.6 million as of December 31, 2024.
The filing outlines various ongoing legal proceedings, including actions against Qualcomm, Apple, LG, and others, with some cases stayed pending outcomes in related cases.
The company has funded litigation costs through contingent arrangements with legal counsel and third-party financing, impacting net proceeds from patent-related actions.
Parkervision's future business plan depends on the successful negotiation of licensing agreements and the outcome of ongoing patent enforcement actions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Parkervision Inc. annual 10-K report dated March 24, 2025. To report an error, please email earnings@qz.com.