NASDAQ$RMBS

Rambus Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Delivered strong Q4 revenue and earnings in line with guidance and produced record annual product revenue.

Rambus reported strong Q4 2022 financial results, with GAAP revenue of $122.4 million. The company achieved record annual product revenue and cash from operations. The company's strategic focus on the data center and strong execution across its diverse offerings continues to drive the company's long-term profitable growth and enables consistent capital returns to its stockholders.

  • Delivered strong Q4 revenue and earnings in line with guidance
  • Produced record annual product revenue driven by memory interface chips, up 58% year over year
  • Generated record cash from operations of $230.4 million for full year 2022
  • GAAP revenue for the fourth quarter was $122.4 million

Headline financials

Total Revenue

$122M

Previous: $91.8M+33.3%
EPS (adj)

$0.14

Previous: $0.40-65.0%
Licensing billings

$64.3M

Previous: $66.6M-3.5%
Capital Expenditures

$4.83M

Previous: $6.27M-22.9%
Free Cash Flow

$46.5M

Previous: $65.9M-29.5%
Net Income

$15.9M

Previous: $6.11M+161.2%
Operating Income

$16.1M

Previous: $8.97M+79.9%
Gross Profit

$89M

Previous: $74M+20.2%
Cash & Equivalents

$125M

Previous: $108M+16.2%
Total Assets

$1.01B

Previous: $1.23B-17.9%
Stock-Based Comp

$10.3M

Previous: $6.21M+65.4%

Revenue & EPS history

Rambus · Revenue · Quarterly

$122M

Q4 2022+33.3%vs Q4 2021
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Revenue by segment

Rambus · $122M total across 3 segments · Q4 2022

  • Product revenue
    $67.2M+48.4%
  • Royalties
    $31.4M-4.4%
  • Contract and other revenue
    $23.8M+74.5%

Forward guidance

The Company will discuss its full revenue guidance for the first quarter of 2023 during its upcoming conference call. For the first quarter of 2023, the Company expects licensing billings to be between $61 million and $67 million. The Company also expects royalty revenue to be between $25 million and $31 million, product revenue to be between $57 million and $63 million and contract and other revenue to be between $19 million and $25 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 Q4 2022

Historical avgQ4 2022

-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

Earnings price reactions
QuarterReport dateReaction (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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