Rambus Reports First Quarter 2021 Financial Results

 

Rambus Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)



Three Months Ended

March 31,


2021


2020

Revenue:




Royalties

$

28,859



$

21,482


Product revenue

30,781



30,728


Contract and other revenue

10,742



13,567


   Total revenue

70,382



65,777


Cost of revenue:




Cost of product revenue

11,410



10,343


Cost of contract and other revenue

1,556



1,198


Amortization of acquired intangible assets

4,386



4,344


   Total cost of revenue

17,352



15,885


Gross profit

53,030



49,892


Operating expenses:




Research and development

32,354



36,664


Sales, general and administrative

23,562



23,306


Amortization of acquired intangible assets

229



348


Restructuring charges

368



836


Change in fair value of earn-out liability



(1,800)


   Total operating expenses

56,513



59,354


Operating loss

(3,483)



(9,462)


Interest income and other income (expense), net

2,981



6,443


Interest expense

(2,614)



(2,555)


Interest and other income (expense), net

367



3,888


Loss before income taxes

(3,116)



(5,574)


Provision for (benefit from) income taxes

(503)



965


Net loss

$

(2,613)



$

(6,539)


Net loss per share:




Basic

$

(0.02)



$

(0.06)


Diluted

$

(0.02)



$

(0.06)


Weighted average shares used in per share calculation




Basic

112,211



112,907


Diluted

112,211



112,907



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