Slide 1: Rambus First Quarter 2024 Financial Results
Rambus First 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: First Quarter 2024 Highlights
First Quarter 2024 Highlights Disciplined execution and strategic focus on addressing growing needs of the data center drove solid Q1 results Delivered consistent return of stockholder value with accelerated share repurchase program Positioned well for DDR5 product cycle with multiple generations of
Slide 4: Financials: Profitable Growth
Financials Profitable Growth
Slide 5: First Quarter 2024 Financial Summary
First Quarter 2024 Financial Summary Delivered solid Q1 results through disciplined execution and focus on strategy Completed $50M accelerated share repurchase program, bringing 3-year total to $350M Generated cash from operations of $39M, further strengthening the balance sheet Expanded data center
Slide 6: Outstanding Cash Generation
Outstanding Cash Generation ASC 606 ASC 606 ASC 606 ASC 606 ASC 606 In Millions Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Continued execution and strengthened focus Revenue $113.8 $119.8 $105.3 $122.2 $117.9 on differentiated portfolio Total Operating Costs and Strategic R&D investment to support core
Slide 7: Strong Balance Sheet Supports Strategic Initiatives
Strong Balance Sheet Supports Strategic Initiatives In Millions Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Total Cash & Marketable Completed $50M accelerated share repurchase $292.1 $332.6 $375.5 $425.8 $391.1 Securities program Total Assets $962.6 $1,127.1 $1,184.3 $1,258.2 $1,208.8 Strong balance she
Slide 8: Q2 2024 Non-GAAP Outlook
Q2 2024 Non-GAAP Outlook Outlook (1) Licensing Billings (2) $61 – $67M Total Operating Costs (3) $80 – $76M Contract & Other Revenue $17 – $23M Interest Income (Expense) $3M (ASC 606) Product Revenue Fully Diluted Shares $52 – $58M 109M (ASC 606) Outstanding (1) The Q2 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 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Net Income in Millions (ASC 606) (ASC 606) (ASC 606) (ASC 606) (ASC 606) GAAP Net Income $3 $169 $103 $59 $33 Adjustments: Stock-based compensation $13 $11 $10 $11 $9 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 Royalty Revenue $28,169 $40,672 $28,857 $52,412 $150,110 $47,476 Product Revenue $63,775 $54,978 $52,181 $53,698 $224,632 $50,360 Contract and Other Revenue $21,818 $24,182 $24,260 $16,115 $86,375 $20,0
Slide 13: GAAP to Non-GAAP Income Statement
GAAP to Non-GAAP Income Statement GAAP Non-GAAP Delta In $ Millions Actual Actual to Q1’24 Q1’24 GAAP Revenue $117.9 $117.9 $- Cost of revenue 23.7 20.5 (3.2) Research and development 37.4 33.8 (3.5) Sales, general and administrative 26.0 19.9 (6.2) Change in fair value of earn-out liability 0.7 0.0