Core Insights - Rambus reported Q3 2025 earnings that exceeded Wall Street expectations for both revenue and earnings per share, with revenue at $179.5 million and non-GAAP EPS at $0.63, marking a 22.7% year-over-year growth [2][5] Financial Performance - Revenue growth was driven by strong product sales and licensing momentum [3] - Operating income increased by 15.7% year-over-year to $63.3 million, indicating scalable profitability across segments [4] - Net income remained relatively flat at $48.38 million, down 0.59% from the previous year [5] Earnings Comparison - The company's GAAP EPS was reported at $0.44, which includes non-cash and accounting adjustments, contrasting with the non-GAAP EPS of $0.63 that analysts focus on [5][6] Accounting Standards - Rambus's financial results are reported under ASC 606, which may lead to discrepancies when compared to analyst expectations based on the older ASC 605 framework, particularly in revenue recognition [7] Cash Flow and Balance Sheet - Cash surged to $673.3 million from $113.98 million year-over-year, reflecting a 490% increase, indicating strong operational cash generation [10] - Operating cash flow rose by 42.41% to $88.4 million, showcasing the company's ability to convert revenue into cash [10][11]