Slide 1: Rambus Third Quarter 2025 Financial Results
Rambus Third Quarter 2025 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 of
Slide 3: Third Quarter 2025 Highlights
Third Quarter 2025 Highlights ➢ Delivered strong Q3 results and generated excellent cash from operations ➢ Achieved fourth consecutive quarterly product revenue record led by Memory Interface Chips ➢ On track to outpace market with annual product revenue growth, driven by DDR5 RCD leadership and ram
Slide 4: Financials: Profitable Growth
Financials Profitable Growth
Slide 5: Outstanding Cash Generation
Outstanding Cash Generation ASC 606 ASC 606 ASC 606 ASC 606 ASC 606 In Millions Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Achieved fourth consecutive quarterly Revenue $145.5 $161.1 $166.7 $172.2 $178.5 product revenue record Total Operating Costs and Strategic R&D investment to support core $80.5 $89
Slide 6: Strong Balance Sheet Supports Strategic Initiatives
Strong Balance Sheet Supports Strategic Initiatives In Millions Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Total Cash & Driven by continued strong cash from $432.7 $481.8 $514.4 $594.8 $673.3 Marketable Securities operations Total Assets $1,251.6 $1,343.1 $1,379.4 $1,467.8 $1,406.4 Strong balance sheet
Slide 7: Q4 2025 Non-GAAP Outlook
Q4 2025 Non-GAAP Outlook Outlook (1) Product Revenue $94 – $100M Total Operating Costs (3) $103 – $99M (ASC 606) Licensing Billings (2) $60 – $66M Interest Income (Expense) $6M Contract & Other Revenue Fully Diluted Shares $25 – $31M 109.5M (ASC 606) Outstanding (1) The Q4 2025 outlook for Royalty r
Slide 8: 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 AI and other advanced workloads ➢ Continued innovation f
Slide 9: Thank you
Thank you
Slide 10: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Net Income in Millions (ASC 606) (ASC 606) (ASC 606) (ASC 606) (ASC 606) GAAP Net Income $49 $62 $60 $58 $48 Adjustments: Stock-based compensation $12 $12 $11 $14 $14 Amortization of acquired intangible assets $3 $
Slide 11: 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 YTD 2025 Product Revenue $50.4 $56.7 $66.4 $73.4 $246.8 $76.3 $81.3 $93.3 $251.0 Royalty Revenue 47.5 56.4 64.1 58.2 226.2 74.0 68.6 65.1 207.7 Contract and Other Revenue 20.0 19.1 15.0 29.5
Slide 12: GAAP to Non-GAAP Income Statement
GAAP to Non-GAAP Income Statement GAAP Non-GAAP Delta In Millions Actual Actual to Q3’25 Q3’25 GAAP Revenue $178.5 $178.5 $- Cost of revenue 36.6 34.7 (1.9) Research and development 49.5 44.5 (5.0) Sales, general and administrative 29.2 20.2 (9.0) Total operating cost and expenses 115.3 99.3 (15.9)