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Jun 30, 2024
Rambus Q2 2024 Earnings Report
Achieved solid Q2 results in line with expectations, generating outstanding cash from operations and experiencing robust growth in product revenue.
Key Takeaways
Rambus reported solid second-quarter results with revenue of $132.1 million and strong cash generation from operations. The company saw robust growth in product revenue and anticipates a strong third quarter driven by double-digit sequential chip growth.
Achieved solid Q2 results in line with expectations.
Generated outstanding cash from operations of $70.4 million.
Delivered $56.7 million in product revenue, up 13% sequentially.
Continued product portfolio expansion with DDR5 server PMICs, Client Clock Driver, and PCIe 7 IP solutions.
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 third quarter of 2024 during its upcoming conference call.
Positive Outlook
- Licensing billings (operational metric) between $60 million and $66 million.
- Product revenue (GAAP) between $62 million and $68 million.
- Contract and other revenue (GAAP) between $17 million and $23 million.
- Interest and other income (expense), net $4 million.
- Diluted share count 109 million
Challenges Ahead
- Operating costs and expenses to be between $97 million and $93 million.
- Non-GAAP operating costs and expenses to be between $82 million and $78 million.
- Expectations also assume a tax rate of 22%.
- Excludes stock-based compensation expense of $12 million.
- Excludes amortization of acquired intangible assets of $3 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income