Rambus, Inc. · NASDAQ:RMBS
Rambus — Investor Presentation (2026)
30 slides from Rambus's investor presentation, Mar 16, 2026
Slide 1: Rambus Investor Presentation Q1 2026
Rambus Investor Presentation Q1 2026
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 of
Slide 3: Rambus at a Glance
Industry-Leading $348M Chips and Silicon IP 2025 Product Revenue Data Center & AI $360M >75% of Chip and 2025 Cash from Operations Silicon IP Revenue 2025 Record +25% Revenue and Earnings 5-year CAGR Product Revenue Over 3 Decades San Jose HQ ~800 Employees Technology Leadership Global Footprint >70
Slide 4: Semiconductor Solutions Built on Innovation
Semiconductor Solutions Built on Innovation Rambus Offerings Markets Served Chips Memory Interface Product Sales Automotive Chips Silicon IP Data Center IP Licenses Government & Edge Interface IP Security IP Innovations Patent Licenses \ IoT Foundational R&D and IP 4
Slide 5: Amplified Opportunities in Data Center and AI
Amplified Opportunities in Data Center and AI Meeting memory performance Addressing bandwidth and Broadening adoption of requirements of growing capacity requirements with novel key technologies into AI workloads memory solutions adjacent markets Cache Increasing latency and capacity On chip Perform
Slide 6: Rambus Solutions for the Data Center
Rambus Solutions for the Data Center DDR5 RDIMM Server Motherboard AI Accelerator/GPU Card 2 1 3 4 Rambus Products: Chips 1 Memory Interface Chips: Registering Clock Driver, PMIC, SPD Hub, Temperature Sensor 2 Root of Trust Security IP with Quantum Safe Cryptography Silicon IP 3 HBM/GDDR/LPDDR Memor
Slide 7: Rambus Memory Interface Chips
DDR5 Server Chipset Rambus Memory Interface Chips Offering chipset solutions for all industry-standard DDR5 and LPDDR5 memory modules Expanding portfolio of new products: 42% Industry-leading DDR5 RCDs • MRCD & MDB 12800 MT/s • PMICs for server and client modules 5-Year Product Revenue CAGR Gen1 480
Slide 8: Silicon IP Solutions for AI
Silicon IP Solutions for AI • Essential building blocks for high- performance chips: HBM, GDDR, LPDDR, PCIe, CXL, PQC, Root of Trust, IME/IDE • Key Benefits • Deliver industry-leading bandwidth performance • Enable high-speed data communications between devices Interface IP Security IP PCIe or CXL •
Slide 9: Rambus Uniquely Positioned for Novel Memory Solutions
Rambus Uniquely Positioned for Novel Memory Solutions Industry leading performance to 12800 MT/s (MRDIMM) Industry Leadership and 8000 MT/s (RDIMM) for DDR5-based servers and PCs DDR5 Memory Interface Chipset World-class expertise in memory interface and Core Expertise interconnect subsystems (digit
Slide 10: Product Leadership Driving Long-term Growth
Product Leadership Driving Long-term Growth DDR5 memory interface chipsets delivering industry- leading performance z HBM, GDDR, PCIe, and CXL 2020-2025 z controller IP critical to data center and AI 25% Product Revenue Broadest portfolio of secure root of trust, protocol engine, CAGR* and crypto ac
Slide 11: Financial Highlights
Financial Highlights Product Revenue* ($M) Pro Forma Operating Expenses ($M) 249 218 217 348 82 77 76 225 247 167 141 146 2023 2024 2025 2023 2024 2025 *Consisting Primarily of Memory Interface Chips R&D SG&A Cash from Operations ($M) & FCF per Share ($) Cash Equivalents & Return of Capital ($M) 400
Slide 12: Rambus Investment Summary
Rambus Investment Summary Amplified opportunity in data center fueled by AI with expanding product portfolio and sustained technical leadership Pioneer of industry-leading chips and silicon IP enabling critical performance improvements for the continued evolution of the data center Continued innovat
Slide 13: Detailed Financials
Detailed Financials Strong cash generation fuels growth initiatives and return of value to stockholders
Slide 14: Outstanding Cash Generation
Outstanding Cash Generation ASC 606 ASC 606 ASC 606 ASC 606 ASC 606 In Millions Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Achieved another quarterly product Revenue $161.1 $166.7 $172.2 $178.5 $190.2 revenue record Total Operating Costs and Strategic R&D investment to support core $89.2 $90.4 $93.2 $9
Slide 15: Strong Balance Sheet Supports Strategic Initiatives
Strong Balance Sheet Supports Strategic Initiatives In Millions Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Total Cash & $481.8 $514.4 $594.8 $673.3 $761.8 Driven by record cash from operations Marketable Securities Total Assets $1,343.1 $1,379.4 $1,467.8 $1,406.4 $1,529.5 Strong balance sheet and debt
Slide 16: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net Income in Millions (ASC 606) (ASC 606) (ASC 606) (ASC 606) (ASC 606) GAAP Net Income $62 $60 $58 $48 $64 Adjustments: Stock-based compensation $12 $11 $14 $14 $14 Amortization of acquired intangible assets $2 $
Slide 17: Revenue and Licensing Billings
Revenue and Licensing Billings ASC 606 ASC 606 In Millions Q1'24 Q2'24 Q3'24 Q4'24 FY 2024 Q1’25 Q2’25 Q3’25 Q4’25 FY 2025 Product Revenue $50.4 $56.7 $66.4 $73.4 $246.8 $76.3 $81.3 $93.3 $96.8 $347.8 Royalty Revenue 47.5 56.4 64.1 58.2 226.2 74.0 68.6 65.1 71.7 279.4 Contract and Other Revenue 20.0
Slide 18: GAAP to Non-GAAP Income Statement
GAAP to Non-GAAP Income Statement GAAP Non-GAAP Delta In Millions Actual Actual to Q4’25 Q4’25 GAAP Revenue $190.2 $190.2 $- Cost of revenue 40.2 38.3 (1.9) Research and development 49.2 43.6 (5.7) Sales, general and administrative 30.0 21.3 (8.6) Total operating cost and expenses 119.4 103.2 (16.2)
Slide 19: Product Overview
Product Overview Industry-leading Chips and Silicon IP
Slide 20: Chips: Memory Interface Chips
Chips Memory Interface Chips • DDR5 Server Chipset Providing memory bandwidth and • DDR5 Client Chipset capacity to unleash the power of • DDR4 Server Chipset CPUs and accelerators • LPDDR5 Client Chipset Chips Silicon IP Innovations 20
Slide 21: DDR5 RDIMM Chipset
DDR5 RDIMM Chipset Industry-leading Performance and Margin • Compliant with latest JEDEC spec up to 8000 MT/s • Wide margin IO design with advanced programmability • Exceeds JEDEC reliability requirements Optimized Power • Frequency-based power optimization Best-in-class Debug and Serviceability • I
Slide 22: Industry-first DDR5 MRDIMM 12800 Chipset
Industry-first DDR5 MRDIMM 12800 Chipset Leading Performance • Supports industry-standard MRDIMM 12800 • Full chipset solution • Advanced clocking, control and power management • Supports standard and tall (high capacity) form factors • Common architecture with RDIMM 8000 to allow flexibility and sc
Slide 23: Industry-first LPCAMM2 Memory Module Chipset
Industry-first LPCAMM2 Memory Module Chipset • Supports wide range of PC performance and capacity use cases • Supports data rates to 10666 MT/s • I2C and I3C Basic bus serial interface • Excellent power conversion efficiency • Programmability features for customization LPCAMM2 Module with PMIC5200 a
Slide 24: Industry-leading DDR5 CSODIMM/CUDIMM Chipset
Industry-leading DDR5 CSODIMM/CUDIMM Chipset • Supports wide range of PC performance and capacity use cases • Supports data rates to 7200 MT/s • I2C and I3C Basic bus serial interface • Excellent power conversion efficiency • Programmability features for customization DDR5 CSODIMM with Client Clock
Slide 25: Silicon IP
Interface IP • PCI Express Silicon IP • • CXL HBM Enabling accelerated computing • GDDR with high-performance interfaces and hardware-level security • LPDDR Security IP • Root of Trust • MACsec • IPsec • IME Chips Silicon IP Innovations
Slide 26: Interface IP: Memory Interface and Interconnect IP
Interface IP: Memory Interface and Interconnect IP Video Memory Controllers Interconnect Controllers Compression DDR LPDDR GDDR HBM CXL PCI Express MIPI VESA FEC Application CSI-2/ DSC/ DP/ 4 4X/5X/5T 6/7 2/2E 3/3E 4 2.0 3.1 6.2 7.0 DSI-2 VDC-M HDMI Focus Data Center AI/Edge Automotive Government &
Slide 27: Security IP: Protecting Data at Rest, in Motion, and in Use
Security IP: Protecting Data at Rest, in Motion, and in Use Cipher Root of Trust Network Security Crypto Cores Provisioning Engines Application Firmware IPsec Key Programmable MACsec IME Crypto TRNG Infrastructure Focus Controlled TLS Management Data Center N/A AI/Edge Automotive N/A Government & De
Slide 28: Rambus Labs
Next-Gen Memory Rambus Labs Enabling next-generation data centers through innovation, Post-Quantum research and development Computing Security Chips Silicon IP Innovations
Slide 29: Key Areas of Focus for Rambus Labs
Key Areas of Focus for Rambus Labs Security for AI/ML Next-Gen Memory Secure and Reliable Strategic Customer & and Post-Quantum Architectures and Memory Systems Product Roadmap Computing Performance Support 29
Slide 30: Thank you
je — Thank you~.