Slide 1: Rambus Fourth Quarter and Fiscal Year 2024 Financial Results
Rambus Fourth Quarter and Fiscal Year 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: Fourth Quarter and Fiscal Year 2024 Highlights
Fourth Quarter and Fiscal Year 2024 Highlights Excellent Q4 results with strong sequential and annual growth, with Q4 revenue beating the high end of guidance Record quarterly product revenue from Memory Interface Chip, excellent 2H driven by data center demand, share gains and early contributions f
Slide 4: Financials: Profitable Growth
Financials Profitable Growth
Slide 5: Fourth Quarter and Fiscal Year 2024 Financial Summary
Fourth Quarter and Fiscal Year 2024 Financial Summary Achieved strong financial results, led by record annual product revenue Delivered record quarterly product revenue of $73.4M in Q4, up 11% Q/Q and 37% Y/Y Generated record FY24 cash from operations of $230.6M, further strengthening the balance sh
Slide 6: Outstanding Cash Generation
Outstanding Cash Generation ASC 606 ASC 606 ASC 606 ASC 606 ASC 606 In Millions Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Quarter over quarter growth driven by Revenue $122.2 $117.9 $132.1 $145.5 $161.1 strong product performance Total Operating Costs and Strategic R&D investment to support core $71.9
Slide 7: Strong Balance Sheet Supports Strategic Initiatives
Strong Balance Sheet Supports Strategic Initiatives In Millions Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Sustained, predictable cash generation Total Cash & Marketable $425.8 $391.1 $432.9 $432.7 $481.8 Securities Returned capital to stockholders through $113M in share repurchases in FY24 Total Asset
Slide 8: Q1 2025 Non-GAAP Outlook
Q1 2025 Non-GAAP Outlook Outlook (1) Licensing Billings (2) $59 – $65M Total Operating Costs (3) $91 – $87M Contract & Other Revenue $22 – $28M Interest Income (Expense) $4M (ASC 606) Product Revenue Fully Diluted Shares $72 – $78M 108M (ASC 606) Outstanding (1) The Q1 2025 outlook for Royalty reven
Slide 9: 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 feeds p
Slide 10: Thank you
Thank you
Slide 11: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Net Income in Millions (ASC 606) (ASC 606) (ASC 606) (ASC 606) (ASC 606) GAAP Net Income $59 $33 $36 $49 $62 Adjustments: Stock-based compensation $11 $9 $12 $12 $12 Amortization of acquired intangible assets $3 $3
Slide 12: Revenue and Licensing Billings
Revenue and Licensing Billings ASC 606 ASC 606 In Millions Q1'23 Q2'23 Q3'23 Q4'23 FY 2023 Q1'24 Q2'24 Q3'24 Q4'24 FY 2024 Royalty Revenue $28.2 $40.7 $28.9 $52.4 $150.1 $47.5 $56.4 $64.1 $58.2 $226.2 Product Revenue 63.8 55.0 52.2 53.7 224.6 50.4 56.7 66.4 73.4 246.8 Contract and Other Revenue 21.8
Slide 13: GAAP to Non-GAAP Income Statement
GAAP to Non-GAAP Income Statement GAAP Non-GAAP Delta In $ Millions Actual Actual to Q4’24 Q4’24 GAAP Revenue $161.1 $161.1 $- Cost of revenue 31.5 29.0 (2.5) Research and development 43.7 39.2 (4.5) Sales, general and administrative 28.0 20.9 (7.1) Total operating cost and expenses 103.2 89.2 (14.1