Slide 1: Rambus Fourth Quarter and Fiscal Year 2025 Financial Results
Rambus Fourth Quarter and Fiscal Year 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: Fourth Quarter and Fiscal Year 2025 Highlights
Fourth Quarter and Fiscal Year 2025 Highlights ➢ Achieved record 2025 revenue and earnings results ➢ Delivered record quarterly product revenue, fueling annual record, up 41% from 2024 ➢ Generated record quarterly and annual cash from operations, up 56% year over year ➢ Continued DDR5 RCD leadership
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 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 6: 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 7: Q1 2026 Non-GAAP Outlook
Q1 2026 Non-GAAP Outlook Outlook (1) Product Revenue $84 – $90M Total Operating Costs (3) $104 – $100M (ASC 606) Licensing Billings (2) $66 – $72M Interest Income (Expense) $6M Contract & Other Revenue Fully Diluted Shares $21 – $27M 110M (ASC 606) Outstanding (1) The Q1 2026 outlook for Royalty rev
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 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 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 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 12: 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)