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Sep 30, 2023
Rambus Q3 2023 Earnings Report
Rambus reported strong Q3 results with revenue and earnings above the midpoint of guidance.
Key Takeaways
Rambus delivered a strong third quarter with GAAP revenue of $105.3 million and a net income of $103.2 million, largely driven by a net gain on divestiture. The company generated $51.6 million in cash from operations and completed a $100.0 million accelerated share repurchase program.
Delivered strong Q3 results with revenue and earnings above the midpoint of guidance
Generated $51.6 million in cash from operations
Completed $100.0 million accelerated share repurchase program
Completed the sale of the PHY IP business, strengthening focus on chips and digital IP
Revenue by Segment
Forward Guidance
The Company will discuss its full revenue guidance for the fourth quarter of 2023 during its upcoming conference call. The following table sets forth fourth quarter outlook for other measures.
Positive Outlook
- Licensing billings (operational metric) between $56 million and $62 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 $2 million
- Diluted share count of 110 million
Challenges Ahead
- Operating costs and expenses to be between $88 million and $84 million.
- Non-GAAP operating costs and expenses to be between $73 million and $69 million.
- Tax rate of 24%
- Stock-based compensation expense of $11 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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