Rambus, Inc. · NASDAQ:RMBS
Rambus — Q3 2024 Earnings Presentation
13 slides from Rambus's earnings presentation, Oct 28, 2024
Slide 1: Rambus Third Quarter 2024 Financial Results
Rambus Third Quarter 2024 Financial Results
Slide 2: Safe Harbor for Forward-Looking Statements; Other Disclosures
Safe Harbor for Forward-Looking Statements; Other Disclosures This presentation contains forward-looking statements, including those relating to the Company’s expectations regarding business opportunities, the Company’s ability to deliver long-term, profitable growth, industry growth rates, timing o
Slide 3: Third Quarter 2024 Highlights
Third Quarter 2024 Highlights Strong sequential growth in Q3, fueled by double-digit increase in product revenue Fifth consecutive quarter of share repurchases, delivering consistent stockholder return Memory Interface Chip revenue up 17% sequentially and 27% year over year through continued market
Slide 4: Financials: Profitable Growth
Financials Profitable Growth
Slide 5: Third Quarter 2024 Financial Summary
Third Quarter 2024 Financial Summary Achieved strong financial results, led by product revenue growth Delivered quarterly product revenue of $66.4M in Q3, up 17% sequentially and 27% Y/Y Excellent Q3 cash from operations of $62.1M, further strengthening the balance sheet Continued track record of re
Slide 6: Outstanding Cash Generation
Outstanding Cash Generation ASC 606 ASC 606 ASC 606 ASC 606 ASC 606 In Millions Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Quarter over quarter growth driven by Revenue $105.3 $122.2 $117.9 $132.1 $145.5 product revenue Total Operating Costs and Strategic R&D investment to support core $72.9 $71.9 $74.
Slide 7: Strong Balance Sheet Supports Strategic Initiatives
Strong Balance Sheet Supports Strategic Initiatives In Millions Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Driven by continued strong cash from operations Total Cash & Marketable $375.5 $425.8 $391.1 $432.9 $432.7 Securities Returned capital to stockholders through $50.0M share repurchase Total Assets
Slide 8: Q4 2024 Non-GAAP Outlook
Q4 2024 Non-GAAP Outlook Outlook (1) Licensing Billings (2) $57 – $63M Total Operating Costs (3) $86 – $82M Contract & Other Revenue $22 – $28M Interest Income (Expense) $4M (ASC 606) Product Revenue Fully Diluted Shares $72 – $78M 108M (ASC 606) Outstanding (1) The Q4 2024 outlook for Royalty reven
Slide 9: Rambus Investment Summary
Rambus Investment Summary Amplified market opportunity in data center and beyond as memory demands accelerate, fueled by AI Pioneer of industry-leading chips and silicon IP enabling critical performance improvements for AI and other advanced workloads Continued innovation feeds patent portfolio and
Slide 10: Thank you
Thank you
Slide 11: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Net Income in Millions (ASC 606) (ASC 606) (ASC 606) (ASC 606) (ASC 606) GAAP Net Income $103 $59 $33 $36 $49 Adjustments: Stock-based compensation $10 $11 $9 $12 $12 Acquisition/divestiture-related costs and reten
Slide 12: Revenue and Licensing Billings
Revenue and Licensing Billings ASC 606 ASC 606 In Thousands Q1'23 Q2'23 Q3'23 Q4'23 FY 2023 Q1'24 Q2'24 Q3’24 YTD 2024 Royalty Revenue $28,169 $40,672 $28,857 $52,412 $150,110 $47,476 $56,380 $64,105 $167,961 Product Revenue $63,775 $54,978 $52,181 $53,698 $224,632 $50,360 $56,692 $66,394 $173,446 C
Slide 13: GAAP to Non-GAAP Income Statement
GAAP to Non-GAAP Income Statement GAAP Non-GAAP Delta In $ Millions Actual Actual to Q3’24 Q3’24 GAAP Revenue $145.5 $145.5 $- Cost of revenue 28.1 25.2 (2.9) Research and development 41.3 37.1 (4.2) Sales, general and administrative 26.0 18.2 (7.7) Change in fair value of earn-out liability (4.5) 0