Rambus Reports Third Quarter 2021 Financial Results

- Delivered Q3 revenue and profitability in line with guidance

SAN JOSE, Calif., Nov. 1, 2021 — (PRNewswire) — Rambus Inc. (NASDAQ: RMBS), a provider of industry-leading chips and IP making data faster and safer, today reported financial results for the third quarter ended September 30, 2021. GAAP revenue for the third quarter was $81.3 million; licensing billings were $66.1 million, product revenue was $36.7 million, and contract and other revenue was $11.5 million. The Company also generated $46.0 million in cash provided by operating activities.

"Rambus delivered a strong third quarter, supported by great execution from the team," said Luc Seraphin, chief executive officer of Rambus. "We are well positioned for continued profitable growth as demonstrated by this quarter's record product revenue from memory interface chips. Strategically, we continue to scale the business as the integrations of AnalogX and PLDA are well underway with the new teams already contributing new products and design wins."

Quarterly Financial Review - GAAP


Three Months Ended

September 30,

(In millions, except for percentages and per share amounts)


2021


2020

Revenue





Product revenue


$

36.7



$

29.8


Royalties


33.1



16.6


Contract and other revenue


11.5



10.5


Total revenue


81.3



56.9


Cost of product revenue


13.1



9.7


Cost of contract and other revenue


1.5



1.3


Amortization of acquired intangible assets (included in total cost of revenue)


3.8



4.3


Total operating expenses (1)


58.2



54.1


Operating income (loss)


$

4.7



$

(12.5)


Operating margin


6

%


(22)

%

Net income (loss)


$

3.7



$

(12.7)


Diluted net income (loss) per share


$

0.03



$

(0.11)


Net cash provided by operating activities


$

46.0



$

44.1



_________________________________________

(1)

Includes amortization of acquired intangible assets of approximately $0.4 million and $0.2 million for the three months ended September 30, 2021 and 2020, respectively.


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