Press release
Rambus Reports Second Quarter 2023 Financial Results
Delivered strong Q2 results with revenue in line and earnings at the high end of guidance Generated $50.4 million in cash from operations Produced quarterly
About this update from Rambus, Inc.
[{"type":"text","content":"\n\nDelivered strong Q2 results with revenue in line and earnings at the high end of guidance\n\n\n\nGenerated $50.4 million in cash from operations\n\n\n\nProduced quarterly product revenue of $55.0 million driven by memory interface chips\n\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, 2023. GAAP revenue for the second quarter was $119.8 million, licensing billings were $60.2 million, product revenue was $55.0 million, and contract and other revenue was $24.1 million. The Company also generated $50.4 million in cash provided by operating activities in the second quarter.\n\n\n“Rambus delivered a strong second quarter with solid results and execution from the team as we continue to successfully navigate through challenging market conditions,” said Luc Seraphin, chief executive officer of Rambus. “By delivering the critical chips and IP that address the growing demand in data center fueled by AI, we are well positioned to drive the company’s long-term profitable growth.\"\n\n\n\n\nQuarterly Financial Review - GAAP\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\nJune 30,\n\n\n\n\n\n\n\n\n(In millions, except for percentages and per share amounts)\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nProduct revenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n55.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\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\nRoyalties\n\n\n\n\n\n\n \n\n\n\n\n\n\n40.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\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\nContract and other revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n24.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\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\nTotal revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n119.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\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\nCost of product revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n18.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\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\nCost of contract and other revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n1.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n...