Press release
Rambus Reports Second Quarter 2024 Financial Results
Achieved solid Q2 results in line with expectations and generated outstanding cash from operations of $70.4 million Delivered $56.7 million in product
About this update from Rambus, Inc.
[{"type":"text","content":"\n\nAchieved solid Q2 results in line with expectations and generated outstanding cash from operations of $70.4 million\n\n\n\nDelivered $56.7 million in product revenue, up 13% sequentially\n\n\n\nContinued product portfolio expansion with DDR5 server PMICs, Client Clock Driver, and PCIe 7 IP solutions\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, 2024. GAAP revenue for the second quarter was $132.1 million, licensing billings were $61.5 million, product revenue was $56.7 million, and contract and other revenue was $19.0 million. The Company also generated $70.4 million in cash provided by operating activities in the second quarter.\n\n\n“We delivered solid second quarter results with robust growth in product revenue and excellent cash from operations,” said Luc Seraphin, chief executive officer of Rambus. “Through continued execution and ongoing investment in our industry-leading product roadmap for data center and AI, we expect a strong third quarter driven again by double-digit sequential chip growth.”\n\n\n\n\nQuarterly Financial Review - GAAP\n\n\n\n\n\n\nThree Months Ended\nJune 30,\n\n\n\n\n\n\n\n\n(In millions, except for percentages and per share amounts)\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nProduct revenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n56.7\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\n55.0\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\n56.4\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\n40.7\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\n19.0\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\n24.1\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\n132.1\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\n119.8\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\n22.8\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\n18.7\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\n1.0\n\n\n\n\n\n\n \n\...