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Rambus Inc.

Rambus Inc.

NASDAQ•RMBS
CEO: Mr. Luc Seraphin
Sector: Technology
Industry: Semiconductors
Listing Date: 1997-05-14
Rambus Inc. provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP. It also provides a portfolios of security IP solutions, including crypto cores, hardware roots of trust, high-speed protocol engines, and chip provisioning technologies; and portfolio of patents that covers memory architecture, high-speed serial links, and security products. It markets its products and services through its direct sales force and distributors. Rambus Inc. was incorporated in 1990 and is headquartered in San Jose, California.
Contact Information
4453 North First Street, Suite 100, San Jose, CA, 95134, United States
408-462-8000
www.rambus.com
Market Cap
$11.63B
P/E (TTM)
50.7
65
Dividend Yield
--
52W High
$114.55
52W Low
$40.12
52W Range
91%
Rank45Top 56.8%
3.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$178.51M+22.68%
4-Quarter Trend

EPS

$0.45+0.00%
4-Quarter Trend

FCF

$82.48M+58.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue and Profit Surge Total revenue reached $517.4M for nine months, increasing 30.8%; Net income grew 41.7% to $166.6M.
Product Revenue Strong Growth Product revenue hit $251.0M YTD, marking a 44.7% increase driven by memory interface chip sales volume.
Operating Cash Flow Jumps Net cash provided by operating activities was $260.2M for nine months, up substantially from $171.6M last year.
Royalties Revenue Expansion Royalties revenue increased 23.7% to $207.7M YTD, primarily due to timing and structure of license renewals.

Risk Factors

High Customer Revenue Concentration Top five customers represented 67% of Q3 2025 consolidated revenue, posing substantial concentration risk.
Increased Operating Expenses R&D expenses rose $19.3M YTD, driven by $15.0M higher payroll costs and headcount growth initiatives.
Technological Innovation Pace Failure to keep pace with evolving technology, especially AI/LLMs, may render existing products uncompetitive.
Tax Legislation Uncertainty New OBBBA tax legislation enacted in Q3 2025 is projected to increase the effective tax rate for 2025.

Outlook

Strong Liquidity Position Maintained Total cash and marketable securities stood at $673.3M as of September 30, 2025, adequate for next 12 months.
Core Semiconductor Strategy Strategic objective remains focusing product portfolio and investment on core strength in semiconductors for growth.
Future Contract Revenue Visibility Contracted but unsatisfied performance obligations total $23.9M, expected to be recognized as revenue over next two years.
International Revenue Expected Expect revenue derived from international customers to continue representing a significant portion of total consolidated revenue.

Peer Comparison

Revenue (TTM)

Amkor Technology, Inc.AMKR
$6.45B
+0.1%
Open Text CorporationOTEX
$5.19B
-7.3%
Akamai Technologies, Inc.AKAM
$4.13B
+4.2%

Gross Margin (Latest Quarter)

Rambus Inc.RMBS
74.4%
-0.9pp
Pegasystems Inc.PEGA
72.2%
+2.0pp
Lattice Semiconductor CorporationLSCC
67.9%
-1.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
MTSI$16.54B-301.2-4.4%25.6%
TSEM$14.51B72.47.1%5.0%
AKAM$13.45B26.910.9%48.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.5%
Moderate Growth
4Q Net Income CAGR
-8.0%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 2, 2026
|
EPS:$0.68
|
Revenue:$188.21M
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 28, 2025|
    Revenue: $178.51M+22.7%
    |
    EPS: $0.45+0.0%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 29, 2025|
    Revenue: $172.21M+30.3%
    |
    EPS: $0.54+63.6%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 29, 2025|
    Revenue: $166.66M+41.4%
    |
    EPS: $0.56+86.7%
    Meet
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 24, 2025|
    Revenue: $556.62M+20.7%
    |
    EPS: $1.67-46.0%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 30, 2024|
    Revenue: $145.51M+38.2%
    |
    EPS: $0.45-52.6%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $132.14M+10.3%
    |
    EPS: $0.33-78.7%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 2, 2024|
    Revenue: $117.87M+3.6%
    |
    EPS: $0.30+890.1%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 23, 2024|
    Revenue: $461.12M+1.4%
    |
    EPS: $3.09+2476.9%
    Beat