Rambus Q1 revenue $117.9M, net income $32.9M; launches DDR5 PMICs for AI

RAMBUS INC

2024-Q1 EPS reported $0.30 revenue$117,871,000

GAAP diluted EPS $0.30 vs $0.03 YoY; revenue up 4% from $113.8M.
Product revenue $50.4M (down 21% YoY); royalties $47.5M (up 68% YoY).
Operating income $30.1M, margin 26%, vs $1.9M and 2% a year ago.
Completed $50M accelerated share repurchase; cash and securities $391.1M.
Q2 guidance: licensing billings $61-67M, product rev $52-58M, non-GAAP op costs $80-76M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RAMBUS INC reported the first quarter ended March 31, 2024 results: revenue $117.9 million, net income $32.9 million, EPS $0.30.

Period: the first quarter ended March 31, 2024
Revenue: $117.9 million
Net income: $32.9 million
EPS: $0.30
Result: reported results

Exact text from the filing

today reported financial results for the first quarter ended March 31, 2024. GAAP revenue for the first quarter was $117.9 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

RAMBUS INC updated its the second quarter of 2024 guidance (reaffirmed).

Period: the second quarter of 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The following table sets forth the second quarter outlook for other measures. (In millions) GAAP Non-GAAP (1) Licensing billings (operational metric) (2) $61 - $67 $61 - $67 Product revenue (GAAP) $52 - $58 $52 - $58 Contract and other revenue (GAAP) $17 - $23 $17 - $23 Total operating costs and expenses $95 - $91 $80 - $76 Interest and other income (expense), net $3 $3 Diluted share count 109 109

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Source: SEC EDGAR

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