UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q _______________________________ 4453 North First Street Suite 100 San Jose , California 95134 (Address of principal executive offices) (ZIP Code) (Mark One) Delaware 94-3112828 (I.R.S. Employer Identification No.) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR ...

Safe Harbor for Forward-Looking Statements; Other Disclosures Such forward-looking statements are based on current expectations, estimates and projections, management's beliefs and certain assumptions. Actual results may differ materially. The Company's business generally is subject to a number of risks which are described more fully in the Company's periodic reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect events ...

Rambus Inc. (NASDAQ:RMBS) Q2 2023 Earnings Conference Call July 31, 2023 5:00 PM ET Company Participants Desmond Lynch - SVP & CFO Luc Seraphin - President & CEO Conference Call Participants Kevin Cassidy - Rosenblatt Securities Mehdi Hosseini - Susquehanna Financial Group Gary Mobley - Wells Fargo Securities Operator Welcome to the Rambus Second Quarter and FY '23 Earnings Conference Call. At this time, all participants are in a listen-only mode. At the conclusion of our prepared remarks, we will conduct a ...

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 March 31, 2023 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 name o ...

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $113.8 million, at the high end of expectations, with product revenue of $63.8 million, up 33% year-over-year [100][21][5] - Cash from operations for the quarter was $38.9 million, with total operating costs of $86.3 million [22][9] - Non-GAAP earnings per share for Q2 is expected to range between $0.20 and $0.26, with a projected share count of 112 million [11] Business Line Data and Key Metrics Changes - Product revenue primarily from memory interface chips was $63.8 million, while contract and other revenue was $21.8 million [21] - The company expects a slight improvement in product gross margins in Q2, driven by a favorable product mix, with Q1 product gross margins at approximately 59% [32][33] - Silicon IP gross margins were just over 90% in Q1, expected to remain around that level going forward [34] Market Data and Key Metrics Changes - The transition from DDR4 to DDR5 is projected for the first half of 2024, with initial orders for DDR5 expected to start shipping in late Q2 [18][54] - The company anticipates a stronger second half of the year as DDR5 demand ramps up and DDR4 inventories normalize [97][48] Company Strategy and Development Direction - The company is focused on advancing data center memory performance to meet the growing demands of generative AI and other advanced workloads [6] - A strategic licensing agreement with SK Hynix was extended for an additional 10 years, effective Q3 2024, which is expected to enhance revenue recognition under ASC 606 [8][51] - The company is making investments in differentiated, high-quality products to address performance bottlenecks between processing and memory [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy and ability to drive long-term profitable growth despite a challenging macroeconomic environment [20][19] - The company expects the second half of the year to show growth compared to the first half, driven by the ramp of DDR5 [48][18] - Management noted that while the transition to DDR5 will be lumpy, they are encouraged by initial orders and the overall market dynamics [54][24] Other Important Information - The company ended Q1 with cash, cash equivalents, and marketable securities totaling $292.1 million, a decrease due to convertible note repayment [101] - The company continues to maintain a disciplined approach to ASP management and product cost reductions [33] Q&A Session Summary Question: Can you provide insights on product revenue for the second half of the year? - Management indicated that product revenue was $64 million in Q1, a 33% increase year-over-year, and expects a resurgence in DDR5-related revenue in the second half [24] Question: What is the outlook for gross margins outside of licensing and royalty? - Management expects product gross margins to improve slightly in Q2, with a long-term target of 60% to 65% [31][33] Question: Can you discuss the licensing activity for CXL? - Management noted that CXL has been a strong driver for Silicon IP growth, despite current macroeconomic headwinds [61] Question: What is the expected pricing trend for DDR5 compared to DDR4? - Management confirmed that DDR5 is expected to carry a price premium over DDR4 initially, with potential erosion over time as volumes grow [67] Question: When will the company ship its PMIC devices? - Management stated that they are developing their own PMIC devices and expect to hit the market next year [69] Question: How does the company benefit from generative AI applications? - Management highlighted that generative AI applications are driving demand for high bandwidth memory and are expected to positively impact both IP and product revenue [88]

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 recent and upcoming quarters and related drivers, and the effects of ASC 606 on reported revenue, among othe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-K ________________________________________ (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 __________________________ ...

Safe Harbor for Forward-Looking Statements; Other Disclosures Effective January 1, 2018, the Company adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers in ASC 606. The adoption of ASC 606 materially impacted the timing of revenue recognition for the Company's fixed-fee intellectual property licensing arrangements. The adoption of ASC 606 did not have a material impact on the Company's other revenue streams, net cash provided by operating activities, or its underlying fina ...

Rambus Inc. (NASDAQ:RMBS) Q4 2022 Earnings Conference Call February 7, 2023 5:00 PM ET Company Participants Luc Seraphin - CEO Desmond Lynch - CFO Conference Call Participants Gary Mobley - Wells Fargo Kevin Cassidy - Rosenblatt Mehdi Hosseini - SIG Sidney Ho - Deutsche Bank Operator Welcome to the Rambus Fourth Quarter and Fiscal Year '22 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the conference over to Desmond Lynch, C ...

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, 2022 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 ...