Press release
Rambus Reports Fourth Quarter And Fiscal Year 2019 Financial Results
- Excellent quarter, exceeding expectations; GAAP revenue of $59.9 million; with licensing billings of $63.8 million, product revenue of $26.6 million, and
About this update from Rambus, Inc.
[{"type":"text","content":"- Excellent quarter, exceeding expectations; GAAP revenue of $59.9 million; with licensing billings of $63.8 million, product revenue of $26.6 million, and contract and other revenue of $13.9 million\n - Record Q4 and full-year revenue for both the Memory Interface Chips and Silicon IP businesses\n - $35.4 million in cash provided by operating activities in Q4 and $128.5 million for the full year 2019, up 48% year over year\n - Expanded product portfolio with acquisition of Secure Silicon IP and Protocols business from Verimatrix\n\n\nSUNNYVALE, Calif., Jan. 27, 2020 /PRNewswire/ -- Rambus Inc. (NASDAQ:RMBS) today reported financial results for the fourth quarter ended December 31, 2019. Total revenue for the fourth quarter was towards the high end of guidance at $59.9 million; licensing billings were $63.8 million, product revenue was $26.6 million, and contract and other revenue was $13.9 million. The Company also generated $35.4 million in cash provided by operating activities in the fourth quarter, bringing the 2019 total to $128.5 million, up 48% year over year.\n\n \n \n\n \n\"Rambus had an excellent fourth quarter, concluding a very strong year that was propelled by robust cash from operations and record Q4 and annual revenue from memory interface chips and silicon IP,\" said Luc Seraphin, chief executive officer of Rambus. \"By realigning the Company around our core strengths in semiconductor and augmenting our product portfolio, we are well-positioned for continued success in 2020.\"\nBusiness Review\nGuided by our strategic objectives, Rambus continues to focus on our core strength in semiconductor, optimize the Company for operational efficiency, and leverage our strong cash generation to re-invest for growth. Consistent with those priorities, we redefined our perimeter in 2019 with significant M&A activity throughout the year and focused the Company on Memory Interface Chips and Silicon IP solutions for the semiconductor market. The Company closed the sale of its Payments and Ticketing business to Visa and completed two silicon IP acquisitions, Northwest Logic for digital controllers, and the secure silicon IP and protocols businesses of Verimatrix, formerly Inside Secure.\nRambus continues to execute and demonstrate success across our product lines. We delivered the second consecutive year of record revenue from pro...