Rambus二季度收入和非GAAP EPS超预期并给出三季度环比增长指引

Record quarterly revenue of $207.4 million, up 20% year over year, exceeding revenue guidance range

GAAP diluted earnings per share of $0.61 and non-GAAP diluted earnings per share of $0.77, exceeding non-GAAP diluted earnings per share guidance range

Record product revenue of $99.2 million, up 13% quarter over quarter and 22% year over year

Expanded product and IP offerings for next-generation AI systems, including complete chipsets for DDR5 9600 server and client memory modules, and PCIe 7 Switch IP

SAN JOSE, Calif. – July 27, 2026 – Rambus Inc. (NASDAQ:RMBS), a provider of industry-leading chips and IP making data faster and safer, today reported financial results for the second quarter ended June 30, 2026. Total revenue for the second quarter was $207.4 million, product revenue was $99.2 million, royalties revenue was $84.2 million and contract and other revenue was $24.0 million. GAAP diluted earnings per share was $0.61 and non-GAAP diluted earnings per share was $0.77. The Company also generated $61.2 million in cash from operating activities in the second quarter.

Management Commentary

“Rambus had an outstanding second quarter, delivering a new all-time high in revenue and non-GAAP earnings, fueled by record product revenue that grew more than 20% year over year,” said Luc Seraphin, president and chief executive officer of Rambus. “We continue to execute on our roadmap of high-performance chip and IP solutions to meet the accelerating demands of data center and AI infrastructure. We are well positioned to capitalize on the strong secular trends driven by the rapid expansion of AI inference and agentic workloads, supporting our continued product momentum and long-term profitable growth.”

GAAP

Non-GAAP (1)

Quarterly Financial Review

Three Months Ended

June 30,

Three Months Ended

June 30,

(In millions, except percentages and per share amounts)

2026

2025

2026

2025

Revenue

Product revenue

$
99.2

$
81.3

$
99.2

$
81.3

Royalties revenue

84.2

68.6

84.2

68.6

Contract and other revenue

24.0

22.3

24.0

22.3

Total revenue

207.4

172.2

207.4

172.2

Cost of product revenue

39.6

32.4

39.4

32.2

Cost of contract and other revenue

0.8

0.6

0.8

0.6

Amortization of acquired intangible assets (included in total cost of revenue)

1.6

1.8

—

—

Total operating expenses

92.7

74.4

73.5

60.4

Operating income

$
72.7

$
63.0

$
93.7

$
79.0

Operating margin

35%

37%

45%

46%

Net income

$
67.6

$
57.9

$
84.4

$
67.1

Diluted earnings per share

$
0.61

$
0.53

$
0.77

$
0.62

See “Supplemental Reconciliation of GAAP to Non-GAAP Results” table included below. Note that the applicable non-GAAP measures are presented and that revenue is solely presented on a GAAP basis.

GAAP revenue for the quarter was $207.4 million, which exceeded the Company’s guidance range of $192 million to $198 million. The Company had product revenue of $99.2 million, royalties revenue of $84.2 million and contract and other revenue of $24.0 million. The Company also had licensing billings of $84.1 million, which is an operational metric that reflects amounts invoiced to our licensing customers during the period, as adjusted for certain differences relating to advanced payments for variable licensing agreements.

The Company had total GAAP cost of revenue of $42.0 million and operating expenses of $92.7 million. The Company also had total non-GAAP operating expenses of $113.7 million (including non-GAAP cost of revenue of $40.2 million). The Company had GAAP diluted earnings per share of $0.61 and non-GAAP diluted earnings per share of $0.77. The Company’s basic share count was 108 million shares and its diluted share count was 110 million shares.

Cash, cash equivalents, and marketable securities as of June 30, 2026 were $824.9 million, an increase of $38.8 million as compared to March 31, 2026, mainly due to $61.2 million in cash provided by operating activities, partially offset by $14.3 million in payments of taxes related to net share settlement of equity awards and $12.2 million paid for capital expenditures.

2026 Third Quarter Outlook

(In millions, except per share amounts)

GAAP

Non-GAAP (1)

Revenue

$210 – $216

$210 – $216

Product revenue

$110 – $116

$110 – $116

Royalties revenue

$69 – $75

$69 – $75

Contract and other revenue

$25 – $31

$25 – $31

Total operating costs and expenses

$137 – $133

$119 – $115

Diluted earnings per share

$0.59 – $0.67

$0.75 – $0.82

See “Reconciliation of GAAP Forward-Looking Estimates to Non-GAAP Forward-Looking Estimates” table included below. Note that the applicable non-GAAP measures are presented and that revenue is solely presented on a GAAP basis.

For the third quarter of 2026, the Company expects revenue to be between $210 million and $216 million. The Company also expects product revenue to be between $110 million and $116 million, royalties revenue to be between $69 million and $75 million, and contract and other revenue to be between $25 million and $31 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.

The Company also expects GAAP operating costs and expenses to be between $137 million and $133 million and non-GAAP operating costs and expenses to be between $119 million and $115 million. The Company expects interest and other income to be $7 million. These expectations also assume a GAAP tax rate of 18.7%, a non-GAAP tax rate of 16% and a diluted share count of 110 million shares, and exclude stock-based compensation expense of $15.7 million, amortization of acquired intangible assets of $1.5 million and other one-time adjustments of $0.8 million.

Additionally, the Company expects GAAP diluted earnings per share to be between $0.59 and $0.67 and non-GAAP diluted earnings per share to be between $0.75 and $0.82.

Conference Call

The Company’s management will discuss the results of the quarter during a conference call scheduled for 2:00 p.m. PT today. The call will be audio, slides will be available online at investor.rambus.com, and a replay will be available for the next week at the following numbers: (800) 770-2030 (domestic) or (+1) 609-800-9909 (international) with ID# 9039474.

Non-GAAP Financial Information

In the commentary set forth above and in the financial statements included in this earnings release, the Company presents the following non-GAAP financial measures: cost of product revenue, operating expenses, operating income, gross margin, operating margin, net income and diluted net income per share (diluted earnings per share). In computing each of these non-GAAP financial measures, the following items were considered as discussed below: stock-based compensation expense, restructuring charges, acquisition-related costs, amortization of acquired intangible assets, facility closure costs, income tax adjustment, and certain other one-time adjustments. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated. Management believes the non-GAAP financial measures are appropriate for both its own assessment of, and to show investors, how the Company’s performance compares to other periods. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. A reconciliation from GAAP to non-GAAP results is included in the financial statements contained in this release.

The Company’s non-GAAP financial measures reflect adjustments based on the following items:

Stock-based compensation expense . These expenses primarily relate to employee stock purchase plans, and emplo