Rambus(US:RMBS)2026-02-02 21:07Financial Performance - Rambus reported GAAP revenue of $190.2 million for Q4 2025, exceeding expectations, with a 18% increase from $161.1 million in Q4 2024[4] - Total revenue for Q4 2025 reached $190.244 million, a 18.1% increase from $161.102 million in Q4 2024[24] - Net income for the year 2025 was $230.455 million, representing a 28.1% increase compared to $179.821 million in 2024[24] - Net income for Q4 2025 was $63.8 million, resulting in a diluted net income per share of $0.58, consistent with Q4 2024[4] - Basic net income per share for Q4 2025 was $0.59, slightly up from $0.58 in Q4 2024[24] - Non-GAAP net income for Q4 2025 was $74.698 million, compared to $59.586 million in Q4 2024, reflecting a 25.3% growth[26] Revenue Breakdown - Product revenue reached a record $96.8 million in Q4 2025, contributing to an annual product revenue of $347.8 million, up 41% from 2024[3] - Product revenue increased to $96.778 million in Q4 2025, up 32.0% from $73.369 million in Q4 2024[24] - Licensing billings for Q4 2025 were $71.5 million, compared to $63.6 million in Q4 2024, reflecting a year-over-year growth of 14.7%[2] Operating Performance - Operating income for Q4 2025 was $70.8 million, with an operating margin of 37%, slightly up from 36% in Q4 2024[2] - Operating income for the year 2025 was $260.218 million, a 42.3% increase from $183.009 million in 2024[24] - Total operating expenses for Q4 2025 were $79.207 million, compared to $71.726 million in Q4 2024, marking a 10.5% increase[24] - Research and development expenses for Q4 2025 totaled $49.246 million, up from $43.698 million in Q4 2024, indicating a 12.5% increase[24] Cash Flow and Financial Position - The company generated $99.8 million in cash from operating activities in Q4 2025, leading to a total of $360.0 million for the fiscal year[3] - Cash, cash equivalents, and marketable securities totaled $761.8 million as of December 31, 2025, an increase of $88.5 million from the previous quarter[5] Future Outlook - For Q1 2026, Rambus expects licensing billings between $66 million and $72 million, and product revenue between $84 million and $90 million[7] - The company anticipates total operating costs and expenses for Q1 2026 to be between $117 million and $121 million[8] - The company expects forward-looking non-GAAP operating costs and expenses for Q1 2026 to be between $100 million and $104 million[27] Market Position - Rambus maintains a strong position in DDR5 RCDs, with a robust product roadmap aligned with trends in data centers and AI[2]