Press release
Rambus Reports Second Quarter 2022 Financial Results
Delivered Q2 revenue and earnings at the high end of guidance Achieved record quarterly product revenue driven by memory interface chips Expanded DDR5
About this update from Rambus, Inc.
[{"type":"text","content":"\n\nDelivered Q2 revenue and earnings at the high end of guidance\n\n\nAchieved record quarterly product revenue driven by memory interface chips\n\n\nExpanded DDR5 portfolio with introduction of companion chips for server and client memory modules\n\n\nGenerated $56.5 million in cash from operations\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 second quarter ended June 30, 2022. GAAP revenue for the second quarter was $121.1 million, licensing billings were $66.1 million, product revenue was $53.3 million, and contract and other revenue was $19.8 million. The Company also generated $56.5 million in cash provided by operating activities in the second quarter.\n\n“Rambus delivered a strong performance with another quarter of record product revenue from memory interface chips and sustained silicon IP momentum driving our results,” said Luc Seraphin, chief executive officer of Rambus. “We continue to address the growing needs of the data center with our diverse and expanding portfolio of offerings to fuel the company’s long-term profitable growth.”\n\n\n\nQuarterly Financial Review - GAAP\n\n\n\n \n\n\n\nThree Months Ended\n\n\nJune 30,\n\n\n\n\n\n(In millions, except for percentages and per share amounts)\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nProduct revenue\n\n\n\n \n\n\n\n$\n\n\n\n53.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n31.2\n\n\n\n \n\n\n\n\n\nRoyalties\n\n\n\n \n\n\n\n \n\n\n\n48.0\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n41.9\n\n\n\n \n\n\n\n\n\nContract and other revenue\n\n\n\n \n\n\n\n \n\n\n\n19.8\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n11.8\n\n\n\n \n\n\n\n\n\nTotal revenue\n\n\n\n \n\n\n\n \n\n\n\n121.1\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n84.9\n\n\n\n \n\n\n\n\n\nCost of product revenue\n\n\n\n \n\n\n\n \n\n\n\n20.4\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n11.4\n\n\n\n \n\n\n\n\n\nCost of contract and other revenue\n\n\n\n \n\n\n\n \n\n\n\n1.0\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n1.0\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\n \n\n\n\n3.4\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n4.5\n\n\n\n \n\n\n\n\n\nTotal operating expenses (1)\n\n\n\n \n\n\n\n \n\n\n\n60.8\n\n\n\n \n\n\n\...