Press release
Rambus Reports Fourth Quarter and Fiscal Year 2022 Financial Results
Delivered strong Q4 revenue and earnings in line with guidance Produced record annual product revenue driven by memory interface chips, up 58% year over year
About this update from Rambus, Inc.
[{"type":"text","content":"\n\nDelivered strong Q4 revenue and earnings in line with guidance\n\n\nProduced record annual product revenue driven by memory interface chips, up 58% year over year\n\n\nGenerated record cash from operations of $230.4 million for full year 2022\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nRambus Inc. (NASDAQ:RMBS), a provider of industry-leading chips and IP making data faster and safer, today reported financial results for the fourth quarter ended December 31, 2022. GAAP revenue for the fourth quarter was $122.4 million; licensing billings were $64.3 million, product revenue was $67.2 million, and contract and other revenue was $23.8 million. The Company also generated $51.3 million in cash provided by operating activities in the fourth quarter.\n\n“Rambus delivered a tremendous performance in 2022, achieving record annual product revenue and cash from operations,” said Luc Seraphin, chief executive officer of Rambus. “Our strategic focus on the data center and strong execution across our diverse offerings continues to drive the company’s long-term profitable growth and enables consistent capital returns to our stockholders.”\n\n\n\nQuarterly Financial Review - GAAP\n\n\n\nThree Months Ended December 31,\n\n\n\n\n\n(In millions, except for percentages and per share amounts)\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nProduct revenue\n\n\n\n$\n\n\n\n67.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n45.3\n\n\n\n \n\n\n\n\n\nRoyalties\n\n\n\n \n\n\n\n31.4\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n32.9\n\n\n\n \n\n\n\n\n\nContract and other revenue\n\n\n\n \n\n\n\n23.8\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n13.6\n\n\n\n \n\n\n\n\n\nTotal revenue\n\n\n\n$\n\n\n\n122.4\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n91.8\n\n\n\n \n\n\n\n\n\nCost of product revenue\n\n\n\n$\n\n\n\n28.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n13.4\n\n\n\n \n\n\n\n\n\nCost of contract and other revenue\n\n\n\n$\n\n\n\n1.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.7\n\n\n\n \n\n\n\n\n\nAmortization of acquired intangible assets (included in total cost of revenue)\n\n\n\n$\n\n\n\n3.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3.6\n\n\n\n \n\n\n\n\n\nTotal operating expenses (1)\n\n\n\n$\n\n\n\n72.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n65.1\n\n\n\n \n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n16.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n9.0\n...