Shares of Rambus (RMBS) have gained 23.7% over the past four weeks to close the last trading session at $49.89, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $68.67 indicates a potential upside of 37.6%.The mean estimate comprises three short-term price targets with a standard deviation of $15.18. While the lowest estimate of $55 indicates a 10.2% increase from the current pri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q _______________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-22339 _______________________________ RAMBUS INC. (Exact na ...

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Surging DRAM demand in the data center is benefiting this memory interface company. Shares of Rambus (RMBS 12.12%) rallied 11.3% on Tuesday as of 12:36 p.m. ET. Positive news on Rambus came from last night's third-quarter earnings report, in which Rambus' bottom line handily surpassed expectations. Management also gave a positive outlook on the current quarter. AI is leading to surging DRAM demand Rambus makes revenue in three ways: memory interface chips, which protect and control the flow of data between ...

Financial Data and Key Metrics - Q3 revenue was $145.5 million, with product revenue at $66.4 million, up 17% sequentially and 27% YoY [24][25] - Royalty revenue was $64.1 million, while licensing billings were $65.4 million [24] - Non-GAAP net income for Q3 was $54.1 million, with a 22% assumed tax rate [26] - Cash from operations was $62.1 million, and free cash flow was $48.6 million [27] - Q4 revenue guidance is between $154 million and $160 million, with non-GAAP operating profit expected between $68 million and $78 million [29][30] Business Line Performance - Memory interface chips delivered $66 million in revenue, up 17% sequentially and 27% YoY, driven by DDR5 products [10] - Silicon IP revenue was relatively flat at $28 million to $29 million, with a shift toward off-the-shelf IP sales [33] - DDR5 RCD products gained market share, with early contributions from new products [10] - DDR4 sales remained modest at around $5 million per quarter [40] Market Performance - Data center demand growth in H2 2024 drove increased sales of DDR5 RCD products [10] - The server market is expected to grow mid-single digits in 2024, with Rambus gaining share [63] - DDR5 inventory levels are reasonable, while DDR4 inventory depletion continues [64] Strategy and Industry Competition - The company introduced industry-first DDR5 MRDIMM 12800 and RDIMM 8000 chipsets, expanding its addressable market [9][12] - Rambus is strategically focused on advancing system memory bandwidth and capacity through innovative memory, connectivity, and power management solutions [19] - The company aims to achieve similar market share in MRDIMM as it has in RCD, with MRDIMM expected to contribute significantly to SAM expansion [59][61] Management Commentary on Operating Environment and Future Outlook - Management expects double-digit product revenue growth in Q4 and over 30% growth in H2 compared to H1 [20] - The company is well-positioned to capitalize on secular trends in data center and AI, driven by DDR5 leadership and new product introductions [21] - AI and data-intensive workloads are accelerating the cadence of new product development [11] Other Important Information - The company repurchased $50 million of stock in Q3, marking the fifth consecutive quarter of share buybacks [8] - Q3 capital expenditures were $13.5 million, with depreciation expense of $6.7 million [27] - Q4 capital expenditures are expected to be approximately $11 million [29] Q&A Session Summary Kevin Cassidy (Rosenblatt Securities) - Asked about the shift in silicon IP revenue classification and received clarification on off-the-shelf vs. customized IP [33] - Inquired about HBM4 Controller IP payment timing, with Luc Seraphin confirming payment upon IP delivery [35] - Followed up on MRDIMM market share expectations, with Luc explaining its use cases and market potential [65] Blayne Curtis (Jefferies) - Asked about silicon IP growth and lumpiness in contract revenue, with Des confirming 10% growth expectations [38][39] - Inquired about DDR4 recovery, with Luc stating DDR4 sales remain modest, while DDR5 drives growth [40] Mehdi Hosseini (SIG) - Asked about the drivers of product revenue growth, with Luc attributing it to DDR5 market share gains and initial companionship sales [43][44] - Inquired about product gross margin trends, with Des confirming a long-term target of 60%-65% [47][48] - Followed up on HBM4 content and operating leverage, with Luc explaining HBM4 speed improvements and Des outlining R&D and SG&A expectations [67][69][70] Nam Kim (Arete Research) - Asked about CXL controller chip development and market sentiment, with Luc discussing fragmentation and future consolidation at CXL 3.0 [51][52] - Inquired about MRDIMM vs. MCR DIMM, with Luc emphasizing Rambus's focus on JEDEC standards [72][74][75] Gary Mobley (Loop Capital) - Asked about MRDIMM market evolution and Rambus's market share expectations, with Luc detailing the company's strategy and content per module [57][59][61] - Inquired about the impact of server market recovery on product revenue, with Luc confirming share gains and reasonable DDR5 inventory levels [62][63]

Rambus Third Quarter 2024 Financial Results Safe Harbor for Forward-Looking Statements; Other Disclosures This presentation contains forward-looking statements, including those relating to the Company's expectations regarding business opportunities, the Company's ability to deliver long-term, profitable growth, industry growth rates, timing of expected product launches, demand for existing and newly-acquired technologies, product and investment strategies, the Company's outlook and financial guidance for re ...

Rambus (RMBS) came out with quarterly earnings of $0.50 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this memory chip designer would post earnings of $0.42 per share when it actually produced earnings of $0.46, delivering a surprise of 9.52%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Rambus, which belongs t ...

Exhibit 99.1 News Release RAMBUS REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS • Delivered $66.4 million in product revenue, up 17% sequentially and 27% year over year • Achieved strong sequential earnings growth and generated excellent cash from operations of $62.1 million • Unveiled industry-first complete chipsets for next-generation, industry-standard DDR5 MRDIMMs and RDIMMs for the data center and AI SAN JOSE, Calif. – October 28, 2024 – Rambus Inc. (NASDAQ:RMBS), a provider of industry-leading chips an ...

Rambus Inc. NASDAQ: RMBS is a chip designer and producer that licenses its technology and architecture to semiconductor companies. Like Arm Holdings Inc. NASDAQ: ARM, Rambus also licenses and collects royalties on the chips using their memory architecture and any of its over 2,700 patents and applications.Rambus TodayRMBSRambus$41.59 -0.04 (-0.10%) 52-Week Range$37.42▼$76.38P/E Ratio19.90Price Target$77.75Add to WatchlistRambus also offers DDR4 and DDR5 memory interface modules and chipset solutions. DDR5 h ...

October 2024 Monthly Dividend of $0.12 Per Share of Common Stock Estimated Book Value Per Share as of September 30, 2024 of $8.40 Estimated GAAP net income of $0.24 per share for the quarter ended September 30, 2024, including an estimated $0.29 per share of net realized and unrealized gains on RMBS and derivative instruments Estimated 2.1% total return on equity for the quarter ended September 30, 2024 Estimated book value, net income and total return on equity amounts are preliminary, subject to change, a ...