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Sep 30, 2021
Rambus Q3 2021 Earnings Report
Rambus delivered Q3 revenue and profitability in line with guidance and generated $46.0 million in cash provided by operating activities.
Key Takeaways
Rambus reported a strong third quarter with revenue and profitability in line with expectations. They delivered record product revenue of $36.7 million, mainly from memory interface chips, and closed the acquisitions of AnalogX and PLDA.
Delivered Q3 revenue and profitability in line with guidance
Generated $46.0 million in cash provided by operating activities
Delivered record product revenue of $36.7 million, consisting mainly of memory interface chips
Closed the acquisitions of AnalogX and PLDA, bolstering Silicon IP business and CXL Memory Interconnect Initiative
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 fourth quarter of 2021 during its upcoming conference call.
Positive Outlook
- Licensing billings to be between $62 million and $68 million.
- Royalty revenue to be between $26 million and $32 million.
- Product revenue to be between $40 million and $46 million
- Contract and other revenue to be between $12 million and $18 million.
- Non-GAAP interest and other income (expense), net, of ($1 million), tax rate of 24% and diluted share count of 115 million
Challenges Ahead
- Revenue is not without risk and achieving revenue in this range will require that the Company sign customer agreements for various product sales, solutions licensing among other matters.
- Operating costs and expenses to be between $80 million and $76 million.
- Non-GAAP operating costs and expenses to be between $68 million and $64 million.
- Expectations also assume non-GAAP interest and other income (expense), net, of ($1 million), tax rate of 24% and diluted share count of 115 million
- Excludes stock-based compensation expense ($8 million), amortization expense ($4 million), non-cash interest expense on convertible notes ($2 million) and interest income related to the significant financing component from fixed-fee patent and technology licensing arrangements ($2 million).
Revenue & Expenses
Visualization of income flow from segment revenue to net income