Slide 1: Rambus Second Quarter 2024 Financial Results
Rambus Second 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: Second Quarter 2024 Highlights
Second Quarter 2024 Highlights Strong product revenue growth drove solid Q2 results and outstanding cash generation Memory Interface Chips up 13% sequentially, with strong Q3 outlook driven by demand for DDR5 Positioned well for DDR5 product cycle with multiple RCD generations; server PMICs in quali
Slide 4: Financials: Profitable Growth
Financials Profitable Growth
Slide 5: Second Quarter 2024 Financial Summary
Second Quarter 2024 Financial Summary Delivered solid Q2 results in line with expectations Achieved quarterly product revenue of $56.7M in Q2, up 13% sequentially Excellent Q2 cash from operations of $70.4M, further strengthening the balance sheet Continued track record of returning value to stockho
Slide 6: Outstanding Cash Generation
Outstanding Cash Generation ASC 606 ASC 606 ASC 606 ASC 606 ASC 606 In Millions Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Driven by strong product performance and Revenue $119.8 $105.3 $122.2 $117.9 $132.1 royalty revenue growth Total Operating Costs and Strategic R&D investment to support core $75.7
Slide 7: Strong Balance Sheet Supports Strategic Initiatives
Strong Balance Sheet Supports Strategic Initiatives In Millions Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Driven by continued strong cash from operations Total Cash & Marketable $332.6 $375.5 $425.8 $391.1 $432.9 Securities Returned capital to stockholders by repurchasing $12.5M in shares Total Assets
Slide 8: Q3 2024 Non-GAAP Outlook
Q3 2024 Non-GAAP Outlook Outlook (1) Licensing Billings (2) $60 – $66M Total Operating Costs (3) $82 – $78M Contract & Other Revenue $17 – $23M Interest Income (Expense) $4M (ASC 606) Product Revenue Fully Diluted Shares $62 – $68M 109M (ASC 606) Outstanding (1) The Q3 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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Net Income in Millions (ASC 606) (ASC 606) (ASC 606) (ASC 606) (ASC 606) GAAP Net Income $169 $103 $59 $33 $36 Adjustments: Stock-based compensation $11 $10 $11 $9 $12 Acquisition/divestiture-related costs and rete
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 Q2'24 YTD 2024 Royalty Revenue $28,169 $40,672 $28,857 $52,412 $150,110 $47,476 $56,380 $103,856 Product Revenue $63,775 $54,978 $52,181 $53,698 $224,632 $50,360 $56,692 $107,052 Contract and Other Reve
Slide 13: GAAP to Non-GAAP Income Statement
GAAP to Non-GAAP Income Statement GAAP Non-GAAP Delta In $ Millions Actual Actual to Q2’24 Q2’24 GAAP Revenue $132.1 $132.1 $- Cost of revenue 26.8 23.7 (3.2) Research and development 40.5 36.3 (4.2) Sales, general and administrative 24.6 17.1 (7.5) Change in fair value of earn-out liability (1.2) 0