Rambus Reports First Quarter 2021 Financial Results

 

Rambus Inc.

Supplemental Reconciliation of GAAP to Non-GAAP Results

(In thousands)

(Unaudited)



Three Months Ended

March 31,


2021


2020

Cost of product revenue

$

11,410



$

10,343


Adjustment:




Stock-based compensation expense

(89)




Non-GAAP cost of product revenue

$

11,321



$

10,343






Total operating expenses

$

56,513



$

59,354


Adjustments:




Stock-based compensation expense

(6,501)



(6,072)


Acquisition-related costs and retention bonus expense

(655)



(1,577)


Amortization of acquired intangible assets

(229)



(348)


Restructuring charges

(368)



(836)


Expense on abandoned operating leases

(521)




Restatement and shareholder activist costs

(2,956)




Facility restoration costs



(411)


Change in fair value of earn-out liability



1,800


Non-GAAP total operating expenses

$

45,283



$

51,910






Interest and other income (expense), net

$

367



$

3,888


Adjustments:




Interest income related to significant financing component from fixed-fee patent and technology licensing arrangements

(2,842)



(4,437)


Non-cash interest expense on convertible notes

1,874



1,773


Non-GAAP interest and other income (expense), net

$

(601)



$

1,224






 

Rambus Inc.

Reconciliation of GAAP Forward-Looking Estimates to Non-GAAP Forward-Looking Estimates

(In millions)

(Unaudited)


2021 Second Quarter Outlook

Three Months Ended

June 30, 2021


Low


High

Forward-looking operating costs and expenses

$

73.7



$

69.7


Adjustments:




Stock-based compensation expense

(8.0)



(8.0)


Amortization of acquired intangible assets

 

(4.7)



(4.7)


Forward-looking Non-GAAP operating costs and expenses

$

61.0



$

57.0






Forward-looking interest and other income (expense), net

$

(0.5)



$

(0.5)


Adjustments:




Interest income related to significant financing component from fixed-fee patent and technology licensing arrangements

(2.4)



(2.4)


Non-cash interest expense on convertible notes

1.9



1.9


Forward-looking Non-GAAP interest and other income (expense), net

$

(1.0)



$

(1.0)



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