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Mar 31, 2024
Rambus Q1 2024 Earnings Report
Delivered solid Q1 results with strategic focus on data center and AI, expanded market opportunity with new leadership products, and returned value to stockholders.
Key Takeaways
Rambus reported solid first quarter results, driven by strong execution and strategic focus on data center and AI. The company's GAAP revenue was $117.9 million and net income was $32.9 million.
Delivered solid Q1 results and expanded leadership offerings for the data center
Completed $50.0 million accelerated share repurchase program
Launched industry-leading family of DDR5 PMICs for AI and traditional servers
Generated $39.1 million in cash provided by operating activities
Rambus
Rambus
Rambus Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comRoyalties Revenue
CapyFin.comContract and other Revenue
CapyFin.com Forward Guidance
The Company will discuss its full revenue guidance for the second quarter of 2024 during its upcoming conference call. The following table sets forth the second quarter outlook for other measures.
Positive Outlook
- Licensing billings to be between $61 million and $67 million
- Royalty revenue to be between $55 million and $61 million
- Product revenue to be between $52 million and $58 million
- Contract and other revenue to be between $17 million and $23 million
- Non-GAAP interest and other income (expense), net, of $3 million
Challenges Ahead
- Operating costs and expenses to be between $95 million and $91 million
- Non-GAAP operating costs and expenses to be between $80 million and $76 million
- Expectations assume a tax rate of 22%
- Expectations assume a diluted share count of 109 million
- Revenue is not without risk and achieving revenue in this range will require that the Company sign customer agreements for various product sales and solutions licensing, among other matters.
Revenue & Expenses
Visualization of income flow from segment revenue to net income