Rambus Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

Three Months Ended

June 30,

Six Months Ended

June 30,

(In thousands, except per share amounts)

2021

2020

2021

2020

Revenue:

Product revenue

$

31,170

$

31,725

$

61,951

$

62,453

Royalties

41,910

18,744

70,769

40,226

Contract and other revenue

11,779

11,248

22,521

24,815

Total revenue

84,859

61,717

155,241

127,494

Cost of revenue:

Cost of product revenue

11,422

10,277

22,832

20,620

Cost of contract and other revenue

1,017

1,535

2,573

2,733

Amortization of acquired intangible assets

4,439

4,336

8,825

8,680

Total cost of revenue

16,878

16,148

34,230

32,033

Gross profit

67,981

45,569

121,011

95,461

Operating expenses:

Research and development

31,469

34,688

63,823

71,352

Sales, general and administrative

22,184

21,721

45,746

45,027

Amortization of acquired intangible assets

229

248

458

596

Restructuring charges

—

—

368

836

Change in fair value of earn-out liability

—

—

—

(1,800)

Total operating expenses

53,882

56,657

110,395

116,011

Operating income (loss)

14,099

(11,088)

10,616

(20,550)

Interest income and other income (expense), net

2,381

4,688

5,362

11,131

Interest expense

(2,683)

(2,580)

(5,297)

(5,135)

Interest and other income (expense), net

(302)

2,108

65

5,996

Income (loss) before income taxes

13,797

(8,980)

10,681

(14,554)

Provision for income taxes

2,631

160

2,128

1,125

Net income (loss)

$

11,166

$

(9,140)

$

8,553

$

(15,679)

Net income (loss) per share:

Basic

$

0.10

$

(0.08)

$

0.08

$

(0.14)

Diluted

$

0.10

$

(0.08)

$

0.07

$

(0.14)

Weighted average shares used in per share calculation

Basic

112,144

113,572

112,177

113,240

Diluted

114,931

113,572

115,358

113,240