NASDAQ$RMBS
Rambus Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Rambus reported strong Q3 results with revenue and earnings above the midpoint of guidance.
Rambus delivered a strong third quarter with GAAP revenue of $105.3 million and a net income of $103.2 million, largely driven by a net gain on divestiture. The company generated $51.6 million in cash from operations and completed a $100.0 million accelerated share repurchase program.
- Delivered strong Q3 results with revenue and earnings above the midpoint of guidance
- Generated $51.6 million in cash from operations
- Completed $100.0 million accelerated share repurchase program
- Completed the sale of the PHY IP business, strengthening focus on chips and digital IP
Headline financials
Revenue & EPS history
Rambus · Revenue · Quarterly
$105M
Revenue by segment
Rambus · $105M total across 3 segments · Q3 2023
- Product revenue$52.2M-10.9%49.6%
- Royalties$28.9M-3.3%27.4%
- Contract and other revenue$24.2M+1.9%23.0%
Forward guidance
The Company will discuss its full revenue guidance for the fourth quarter of 2023 during its upcoming conference call. The following table sets forth fourth quarter outlook for other measures.
Tailwinds
- Licensing billings (operational metric) between $56 million and $62 million.
- Product revenue to be between $52 million and $58 million
- Contract and other revenue to be between $17 million and $23 million.
- Non-GAAP interest and other income (expense), net, of $2 million
- Diluted share count of 110 million
Headwinds
- Operating costs and expenses to be between $88 million and $84 million.
- Non-GAAP operating costs and expenses to be between $73 million and $69 million.
- Tax rate of 24%
- Stock-based compensation expense of $11 million
- Amortization of acquired intangible assets of $4 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-1.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+3.5%
Avg return
30 days after
55%
38 / 69 earnings
Positive
+17.4%
Q1 2020
Best reaction
-27.4%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -24.4% | -20.8% | +4.7% | |
| Q4 2025 | -13.4% | -5.8% | -19.2% | |
| Q3 2025 | -8.7% | -9.5% | -16.5% | |
| Q2 2025 | -2.3% | -8.3% | +13.2% | |
| Q1 2025 | -5.6% | -1.8% | +4.6% | |
| Q4 2024 | +6.8% | +11.0% | -12.9% | |
| Q3 2024 | +17.2% | +10.2% | +31.3% | |
| Q2 2024 | -17.7% | -28.6% | -25.5% | |
| Q1 2024 | -7.4% | -5.3% | -7.1% | |
| Q4 2023 | -19.7% | -14.7% | -7.5% | |
| Q3 2023 | +5.3% | +12.5% | +33.8% | |
| Q2 2023 | -12.3% | -14.1% | -9.8% | |
| Q1 2023 | +9.4% | +9.0% | +44.2% | |
| Q4 2022 | -2.6% | +3.9% | +0.0% | |
| Q3 2022 | +9.3% | +17.5% | +27.8% | |
| Q2 2022 | +3.8% | +6.3% | +2.0% | |
| Q1 2022 | +5.4% | +3.5% | +1.5% | |
| Q4 2021 | +6.1% | +6.4% | +15.7% | |
| Q3 2021 | +4.2% | +3.1% | +17.1% | |
| Q2 2021 | +3.5% | +5.3% | +1.9% | |
| Q1 2021 | +0.9% | +2.0% | +2.7% | |
| Q4 2020 | +2.5% | +2.9% | +10.1% | |
| Q3 2020 | +3.7% | +8.9% | +19.1% | |
| Q2 2020 | +1.6% | +0.8% | -2.7% | |
| Q1 2020 | +17.4% | +23.3% | +26.5% | |
| Q4 2019 | +0.5% | +6.2% | -3.3% | |
| Q3 2019 | +2.3% | -0.2% | -8.6% | |
| Q2 2019 | -0.9% | -5.3% | -12.8% | |
| Q1 2019 | -4.3% | -3.3% | -6.7% | |
| Q4 2018 | -4.6% | +5.4% | +14.8% | |
| Q3 2018 | -5.3% | +8.1% | +1.1% | |
| Q2 2018 | -7.7% | -6.4% | -9.9% | |
| Q1 2018 | -6.4% | -7.3% | -2.5% | |
| Q4 2017 | -8.2% | -10.3% | -10.4% | |
| Q3 2017 | +5.2% | +2.7% | +12.5% | |
| Q2 2017 | +4.6% | +2.9% | +0.4% | |
| Q1 2017 | -3.0% | -3.2% | -6.0% | |
| Q4 2016 | -6.6% | -8.6% | -6.8% | |
| Q3 2016 | +7.7% | +3.5% | +17.1% | |
| Q2 2016 | +3.9% | +6.4% | +5.8% | |
| Q1 2016 | -8.3% | — | — | |
| Q4 2015 | +4.8% | — | — | |
| Q3 2015 | -27.4% | — | — | |
| Q2 2015 | -1.1% | — | — | |
| Q1 2015 | +9.8% | — | — | |
| Q4 2014 | +7.1% | — | — | |
| Q3 2014 | -8.9% | — | — | |
| Q2 2014 | -1.6% | — | — | |
| Q1 2014 | +0.6% | — | — | |
| Q4 2013 | -0.4% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2013 | +2.2% | — | — | |
| Q1 2013 | -11.1% | — | — | |
| Q4 2012 | +5.0% | — | — | |
| Q3 2012 | +2.1% | — | — | |
| Q2 2012 | +1.4% | — | — | |
| Q1 2012 | +3.8% | — | — | |
| Q4 2011 | -2.6% | — | — | |
| Q3 2011 | -3.9% | — | — | |
| Q2 2011 | -15.0% | — | — | |
| Q1 2010 | -3.9% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q4 2008 | +1.3% | — | — | |
| Q3 2009 | +0.1% | — | — | |
| Q3 2010 | +0.1% | — | — | |
| Q2 2009 | +0.2% | — | — | |
| Q2 2010 | +0.2% | — | — | |
| Q4 2009 | +0.2% | — | — |
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