Rambus Q1 revenue $99M beats guidance; record product revenue $48M, net loss $66M from debt actions

RAMBUS INC

2022-Q1 EPS reported -$0.60 revenue$99,050,000

GAAP revenue $99.0M exceeded guidance; product revenue record $48.0M (+56% YoY), driven by memory interface chips for data center.
GAAP net loss $66.2M ($0.60/share) vs $2.6M loss a year ago; loss includes $174.5M senior notes repayment and warrant settlement costs.
Generated $42.6M cash from operations; cash & securities $343.7M after repaying $174.5M of 2023 senior notes.
Q2 outlook: licensing billings $61-67M, product revenue $49-55M, contract revenue $18-24M; non-GAAP operating costs $75-79M.

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