{"id":65241,"date":"2025-02-03T13:06:06","date_gmt":"2025-02-03T21:06:06","guid":{"rendered":"https:\/\/www.rambus.com\/?p=65241"},"modified":"2025-02-03T13:06:06","modified_gmt":"2025-02-03T21:06:06","slug":"fourth-quarter-and-fiscal-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.rambus.com\/fourth-quarter-and-fiscal-year-2024-financial-results\/","title":{"rendered":"Rambus Reports Fourth Quarter And Fiscal Year 2024 Financial Results"},"content":{"rendered":"<ul>\n<li>Delivered record quarterly product revenue of $73.4\u00a0million, up 11% sequentially and 37% year over year<\/li>\n<li>Generated record annual cash from operations of $230.6\u00a0million for 2024, up 18% year over year<\/li>\n<li>Extended patent license agreement with Micron through 2029<\/li>\n<\/ul>\n<p><strong>SAN JOSE, Calif. &#8211; February 3, 2025 <\/strong>&#8211; Rambus Inc. (NASDAQ:RMBS), a provider of industry-leading chips and IP making data faster and safer, today reported financial results for the fourth quarter ended December\u00a031, 2024. GAAP revenue for the fourth quarter was $161.1\u00a0million; licensing billings were $63.6\u00a0million, product revenue was $73.4\u00a0million, and contract and other revenue was $29.5\u00a0million. The Company also generated $59.0 million in cash provided by operating activities in the fourth quarter.<\/p>\n<p>\u201cWe finished 2024 strongly with sequential and year-over-year growth, delivering record annual product revenue and cash from operations,\u201d said Luc Seraphin, chief executive officer of Rambus. \u201cWe expanded our addressable market with a record number of new product introductions throughout the year and gained share through continued product leadership. As AI continues to accelerate performance demands across the computing landscape, we are well positioned to deliver long-term growth and continued stockholder return.\u201d<\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td width=\"521\"><strong>Quarterly Financial Review &#8211; GAAP<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" colspan=\"3\" width=\"159\"><strong>Three Months Ended December 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>(In millions, except for percentages and per share amounts)<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2024<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Product revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 73.4<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 53.7<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Royalties<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 58.2<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 52.4<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Contract and other revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29.5<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 16.1<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Total revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 161.1<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 122.2<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Cost of product revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 28.5<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19.9<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Cost of contract and other revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.1<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Amortization of acquired intangible assets (included in total cost of revenue)<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.3<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.1<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Total operating expenses <sup>(1)<\/sup><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 71.7<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 63.0<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Operating income<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 57.9<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35.1<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Operating margin<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">36 %<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">29 %<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Net income<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 62.2<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 58.5<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Diluted net income per share<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.58<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.53<\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Net cash provided by operating activities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 59.0<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 54.8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>____________________________<\/p>\n<p><sup>(1)<\/sup>\u00a0\u00a0 Includes amortization of acquired intangibles of approximately $0.2\u00a0million for the three months ended December 31, 2023. Amortization of acquired intangibles was immaterial for the three months ended December\u00a031, 2024.<\/p>\n<p>&nbsp;<\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td width=\"521\"><strong>Quarterly Financial Review &#8211; Supplemental Information<sup>(1)<\/sup><\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" colspan=\"3\" width=\"159\"><strong>Three Months Ended December 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>(In millions)<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2024<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Licensing billings (operational metric)<sup> (2)<\/sup><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 63.6<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 66.2<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Product revenue (GAAP)<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 73.4<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 53.7<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Contract and other revenue (GAAP)<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29.5<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 16.1<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Non-GAAP cost of product revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 28.3<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19.8<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Cost of contract and other revenue (GAAP)<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.1<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Non-GAAP total operating expenses<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 60.1<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 51.0<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Non-GAAP interest and other income (expense), net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.4<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.8<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Diluted share count (GAAP)<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 108<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 110<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>____________________________<\/p>\n<p><sup>(1)<\/sup>\u00a0\u00a0 See \u201cSupplemental Reconciliation of GAAP to Non-GAAP Results\u201d table included below.<\/p>\n<p><sup>(2)<\/sup>\u00a0\u00a0 Licensing billings is an operational metric that reflects amounts invoiced to our licensing customers during the period, as adjusted for certain differences relating to advanced payments for variable licensing agreements.<\/p>\n<p>GAAP revenue for the quarter was $161.1\u00a0million. The Company also had licensing billings of $63.6\u00a0million, product revenue of $73.4\u00a0million, and contract and other revenue of $29.5\u00a0million. The Company had total GAAP cost of revenue of $31.5\u00a0million and operating expenses of $71.7\u00a0million. The Company also had total non-GAAP operating expenses of $89.1\u00a0million (including non-GAAP cost of revenue of $29\u00a0million). The Company had GAAP diluted net income per share of $0.58. The Company\u2019s basic share count was 107 million shares and its diluted share count was 108 million shares.<\/p>\n<p>Cash, cash equivalents, and marketable securities as of December\u00a031, 2024 were $481.8\u00a0million, an increase of $49.1\u00a0million as compared to September 30, 2024, mainly due to cash provided by operating activities of approximately $59 million. Cash provided by operating activities for the year ended December\u00a031, 2024 was $230.6\u00a0million.<\/p>\n<p><strong>2025 First Quarter Outlook<\/strong><\/p>\n<p>The Company will discuss its full revenue guidance for the first quarter of 2025 during its upcoming conference call. The following table sets forth first quarter outlook for other measures.<\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td width=\"493\"><strong>(In millions)<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\"><strong>GAAP<\/strong><\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\"><strong>Non-GAAP <sup>(1)<\/sup><\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Licensing billings (operational metric) <sup>(2)<\/sup><\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$59 &#8211; $65<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$59 &#8211; $65<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Product revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$72 &#8211; $78<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$72 &#8211; $78<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Contract and other revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$22 &#8211; $28<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$22 &#8211; $28<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Total operating costs and expenses<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$105 &#8211; $101<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$91- $87<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Interest and other income (expense), net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$4<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$4<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Diluted share count<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">108<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">108<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>____________________________<\/p>\n<p><sup>(1)<\/sup>\u00a0\u00a0 See \u201cReconciliation of GAAP Forward-Looking Estimates to Non-GAAP Forward-Looking Estimates\u201d table included below.<\/p>\n<p><sup>(2)<\/sup>\u00a0\u00a0 Licensing billings is an operational metric that reflects amounts invoiced to our licensing customers during the period, as adjusted for certain differences relating to advanced payments for variable licensing agreements.<\/p>\n<p>For the first quarter of 2025, the Company expects licensing billings to be between $59 million and $65 million. The Company also expects royalty revenue to be between $56 million and $62 million, product revenue to be between $72 million and $78 million and contract and other revenue to be between $22 million and $28 million. Revenue is not without risk and achieving revenue in this range will require that the Company sign customer agreements for various product sales and solutions licensing, among other matters.<\/p>\n<p>The Company also expects operating costs and expenses to be between $105 million and $101 million. Additionally, the Company expects non-GAAP operating costs and expenses to be between $91 million and $87 million.\u00a0These expectations also assume a tax rate of 20% and diluted share count of 108 million, and exclude stock-based compensation expense of $12 million and amortization of acquired intangible assets of $2 million.<\/p>\n<p><strong>Conference Call<\/strong><\/p>\n<p>The Company\u2019s management will discuss the results of the quarter during a conference call scheduled for 2:00\u00a0p.m. PT today. The call will be audio and slides will be available online at investor.rambus.com and a replay will be available for the next week at the following numbers: (866) 813-9403 (domestic) or (+1) 929-458-6194 (international) with ID# 691793.<\/p>\n<p><strong>Non-GAAP Financial Information<\/strong><\/p>\n<p>In the commentary set forth above and in the financial statements included in this earnings release, the Company presents the following non-GAAP financial measures:\u00a0cost of product revenue, operating expenses and interest and other income (expense), net.\u00a0In computing each of these non-GAAP financial measures, the following items were considered as discussed below: stock-based compensation expense, acquisition\/divestiture-related costs and retention bonus expense, amortization of acquired intangible assets, restructuring and other charges (recoveries), (gain) loss on divestiture, expense on abandoned operating leases, change in fair value of earn-out liability, gain on sale of non-marketable equity security, and certain other one-time adjustments. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated. Management believes the non-GAAP financial measures are appropriate for both its own assessment of, and to show investors, how the Company\u2019s performance compares to other periods. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. A reconciliation from GAAP to non-GAAP results is included in the financial statements contained in this release.<\/p>\n<p>The Company\u2019s non-GAAP financial measures reflect adjustments based on the following items:<\/p>\n<p><em>Stock-based compensation expense<\/em>. These expenses primarily relate to employee stock options, employee stock purchase plans, and employee non-vested equity stock and non-vested stock units. The Company excludes stock-based compensation expense from its non-GAAP measures primarily because such expenses are non-cash expenses that the Company does not believe are reflective of ongoing operating results. Additionally, given the fact that other companies may grant different amounts and types of equity awards and may use different option valuation assumptions, excluding stock-based compensation expense permits more accurate comparisons of the Company\u2019s results with peer companies.<\/p>\n<p><em>Acquisition\/divestiture-related costs and retention bonus expense. <\/em>These expenses include all direct costs of certain acquisitions, divestitures and the current periods\u2019 portion of any retention bonus expense associated with the acquisitions. The Company excludes these expenses in order to provide better comparability between periods as they are related to acquisitions and divestitures and have no direct correlation to the Company\u2019s operations.<\/p>\n<p><em>Amortization of acquired intangible assets<\/em>. The Company incurs expenses for the amortization of intangible assets acquired in acquisitions. The Company excludes these items because these expenses are not reflective of ongoing operating results in the period incurred. These amounts arise from the Company\u2019s prior acquisitions and have no direct correlation to the operation of the Company\u2019s core business.<\/p>\n<p><em>Restructuring and other charges (recoveries).<\/em> These charges (recoveries) may consist of severance, contractual retention payments, exit costs and other charges and are excluded because such charges (recoveries) are not directly related to ongoing business results and do not reflect expected future operating expenses.<\/p>\n<p><em>(Gain) loss on divestiture. <\/em>Reflects the (gain) loss on the sale of the Company&#8217;s PHY IP business. The Company excludes these charges (benefits) because such charges (benefits) are not directly related to ongoing business results and do not reflect expected future operating expenses (benefits).<\/p>\n<p><em>Expense on abandoned operating leases.<\/em> Reflects the expense on building leases that were abandoned. The Company excludes these charges because such charges are not directly related to ongoing business results and do not reflect expected future operating expenses.<\/p>\n<p><em>Change in fair value of earn-out liability.<\/em> This change is due to adjustments to acquisition purchase consideration. The Company excludes these adjustments because such adjustments are not directly related to ongoing business results and do not reflect expected future operating expenses.<\/p>\n<p><em>Gain on sale of non-marketable equity security. <\/em>The Company has excluded gain on sale of non-marketable equity security as this is not a reflection of the Company\u2019s ongoing operations.<\/p>\n<p><em>Income tax adjustments<\/em>. For purposes of internal forecasting, planning and analyzing future periods that assume net income from operations, the Company estimates a fixed, long-term projected tax rate of approximately 22 percent and 24 percent for 2024 and 2023, respectively, which consists of estimated U.S. federal and state tax rates, and excludes tax rates associated with certain items such as withholding tax, tax credits, deferred tax asset valuation allowance and the release of any deferred tax asset valuation allowance. Accordingly, the Company has applied these tax rates to its non-GAAP financial results for all periods in the relevant years to assist the Company\u2019s planning.<\/p>\n<p>On occasion in the future, there may be other items, such as significant gains or losses from contingencies, that the Company may exclude in deriving its non-GAAP financial measures if it believes that doing so is consistent with the goal of providing useful information to investors and management.<\/p>\n<p><strong>Forward-Looking Statements<\/strong><\/p>\n<p>This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, including those relating to Rambus\u2019 expectations regarding business opportunities, the Company\u2019s ability to deliver long-term, profitable growth, product and investment strategies, and the Company\u2019s outlook and financial guidance for the first quarter of 2025 and related drivers, and the Company\u2019s ability to effectively manage market challenges. Such forward-looking statements are based on current expectations, estimates and projections, management\u2019s beliefs and certain assumptions made by the Company\u2019s management. Actual results may differ materially. The Company\u2019s business generally is subject to a number of risks which are described more fully in Rambus\u2019 periodic reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.<\/p>\n<p><strong>Contact<\/strong><\/p>\n<p>Desmond Lynch<br \/>\nSenior Vice President, Finance and Chief Financial Officer<br \/>\n(408) 462-8000<br \/>\ndlynch@rambus.com<\/p>\n<p style=\"text-align: center;\"><strong>Rambus Inc.<br \/>\nCondensed Consolidated Balance Sheets<br \/>\n(Unaudited)<\/strong><\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td width=\"493\"><strong>(In thousands)<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" width=\"91\"><strong>December 31, 2024<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"91\"><strong>December 31, 2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"493\"><strong>ASSETS<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\"><\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Current assets:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\"><\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Cash and cash equivalents<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$\u00a0 \u00a0 99,775<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 94,767<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Marketable securities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 382,023<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 331,077<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Accounts receivable<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 122,813<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 82,925<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Unbilled receivables<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,070<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 50,872<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Inventories<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 44,634<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 36,154<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Prepaids and other current assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15,942<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 34,850<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Total current assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 690,257<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 630,645<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Intangible assets, net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,059<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 28,769<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Goodwill<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 286,812<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 286,812<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Property, plant and equipment, net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 75,509<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 67,808<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Operating lease right-of-use assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 21,454<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 21,497<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Deferred tax assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 136,466<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 127,892<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Income taxes receivable<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 109,947<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 88,768<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Other assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,632<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,036<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Total assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$\u00a0\u00a0\u00a0\u00a0 1,343,136<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$\u00a0\u00a0\u00a0\u00a0 1,258,227<\/td>\n<\/tr>\n<tr>\n<td width=\"493\"><\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\"><\/td>\n<\/tr>\n<tr>\n<td width=\"493\"><strong>LIABILITIES &amp; STOCKHOLDERS\u2019 EQUITY<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\"><\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Current liabilities:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\"><\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Accounts payable<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18,522<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18,074<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Accrued salaries and benefits<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,193<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,504<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Deferred revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,903<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,393<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Income taxes payable<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,264<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,099<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Operating lease liabilities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,617<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,453<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Other current liabilities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,313<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,598<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Total current liabilities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 81,812<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 89,121<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Long-term operating lease liabilities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24,534<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,255<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Long-term income taxes payable<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 109,383<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 78,947<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Other long-term liabilities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,715<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,803<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Total long-term liabilities<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 140,632<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 131,005<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Total stockholders\u2019 equity<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,120,692<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,038,101<\/td>\n<\/tr>\n<tr>\n<td width=\"493\">Total liabilities and stockholders\u2019 equity<\/td>\n<td width=\"4\"><\/td>\n<td width=\"91\">$\u00a0\u00a0\u00a0\u00a0 1,343,136<\/td>\n<td width=\"5\"><\/td>\n<td width=\"91\">$\u00a0\u00a0\u00a0\u00a0 1,258,227<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>Rambus Inc.<br \/>\nCondensed Consolidated Statements of Operations<br \/>\n(Unaudited)<\/strong><\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" width=\"357\"><\/td>\n<td style=\"text-align: center;\" width=\"4\"><\/td>\n<td style=\"text-align: center;\" colspan=\"3\" width=\"159\"><strong>Three Months Ended<br \/>\nDecember 31,<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" colspan=\"3\" width=\"159\"><strong>Years Ended<br \/>\nDecember 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"357\"><strong>(In thousands, except per share amounts)<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2024<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2023<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2024<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Revenue:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Product revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 73,369<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 53,698<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0 246,815<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0 224,632<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Royalties<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 58,211<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 52,412<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 226,172<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 150,110<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Contract and other revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29,522<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 16,115<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 83,637<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 86,375<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Total revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 161,102<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 122,225<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 556,624<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 461,117<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Cost of revenue:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Cost of product revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 28,494<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,941<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 95,875<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 84,495<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Cost of contract and other revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 721<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,123<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,028<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,403<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Amortization of acquired intangible assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,300<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,052<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,204<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,524<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Total cost of revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 31,515<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24,116<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 110,107<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 103,422<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Gross profit<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 129,587<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 98,109<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 446,517<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 357,695<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Operating expenses:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Research and development<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 43,698<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35,985<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 162,881<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 156,827<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Sales, general and administrative<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 27,998<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,665<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 104,094<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 108,149<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Amortization of acquired intangible assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 30<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 195<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 506<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,217<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Restructuring and other charges (recoveries)<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (26)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,368<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">(Gain) loss on divestiture<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 59<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 (90,784)<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Impairment of assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,071<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10,045<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Change in fair value of earn-out liability<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,100<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (5,044)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,234<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Total operating expenses<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 71,726<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 62,978<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 263,508<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 204,056<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Operating income<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 57,861<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35,131<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 183,009<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 153,639<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Interest income and other income (expense), net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,796<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,215<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18,450<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,327<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Loss on fair value adjustment of derivatives, net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (240)<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Gain on sale of non-marketable equity security<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 23,924<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 23,924<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Interest expense<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (352)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (377)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,416)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,490)<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Interest and other income (expense), net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,444<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 27,762<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,034<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 33,521<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Income before income taxes<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 62,305<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 62,893<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 200,043<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 187,160<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Provision for (benefit from) income taxes<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 103<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,348<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,222<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0 (146,744)<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Net income<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 62,202<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 58,545<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0 179,821<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0 333,904<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Net income per share:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Basic<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.58<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.54<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.67<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.09<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Diluted<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.58<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.53<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.65<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.01<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Weighted average shares used in per share calculation:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Basic<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 106,716<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 107,703<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 107,438<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 108,183<\/td>\n<\/tr>\n<tr>\n<td width=\"357\">Diluted<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 108,082<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 110,065<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 109,041<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 110,889<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>Rambus Inc.<br \/>\nSupplemental Reconciliation of GAAP to Non-GAAP Results<br \/>\n(Unaudited)<\/strong><\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td width=\"521\"><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" colspan=\"3\" width=\"159\"><strong>Three Months Ended <\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"521\"><\/td>\n<td style=\"text-align: center;\" width=\"4\"><\/td>\n<td style=\"text-align: center;\" colspan=\"3\" width=\"159\"><strong>December 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>(In thousands)<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2024<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Cost of product revenue<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 28,494<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 19,941<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Adjustment:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Stock-based compensation expense<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (172)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (145)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>Non-GAAP cost of product revenue<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0 28,322 <\/strong><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0 19,796 <\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Total operating expenses<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 71,726<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 62,978<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Adjustments:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Stock-based compensation expense<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 (11,563)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 (10,389)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Acquisition\/divestiture-related costs and retention bonus expense<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (22)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (285)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Amortization of acquired intangible assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (30)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (195)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Restructuring and other recoveries<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Loss on divestiture<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (59)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Expense on abandoned operating leases<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Change in fair value of earn-out liability<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,100)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>Non-GAAP total operating expenses<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0 60,111 <\/strong><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0 50,973 <\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Interest and other income (expense), net<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,444<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0 27,762<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Adjustment:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Gain on sale of non-marketable equity security<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0 (23,924)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>Non-GAAP interest and other income (expense), net<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,444 <\/strong><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,838 <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>Rambus Inc.<br \/>\nReconciliation of GAAP Forward-Looking Estimates to Non-GAAP Forward-Looking Estimates<br \/>\n(Unaudited)<\/strong><\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td width=\"521\"><strong>2025<\/strong><strong> First Quarter Outlook<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" colspan=\"3\" width=\"159\"><strong>Three Months Ended<br \/>\nMarch 31, 2025<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>(In millions)<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>Low<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"5\"><\/td>\n<td style=\"text-align: center;\" width=\"77\"><strong>High<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Forward-looking operating costs and expenses<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 105<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 101<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Adjustments:<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Stock-based compensation expense<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (12)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (12)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\">Amortization of acquired intangible assets<\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2)<\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2)<\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><strong>Forward-looking Non-GAAP operating costs and expenses<\/strong><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 91 <\/strong><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><strong>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 87 <\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"521\"><\/td>\n<td width=\"4\"><\/td>\n<td width=\"77\"><\/td>\n<td width=\"5\"><\/td>\n<td width=\"77\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Delivered record quarterly product revenue of $73.4\u00a0million, up 11% sequentially and 37% year over year Generated record annual cash from operations of $230.6\u00a0million for 2024, up 18% year over year Extended patent license agreement with Micron through 2029 SAN JOSE, Calif. &#8211; February 3, 2025 &#8211; Rambus Inc. (NASDAQ:RMBS), a provider of industry-leading chips and [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":24756,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[799,82,34],"tags":[],"class_list":{"0":"post-65241","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-press-releases-corporate","8":"category-financial","9":"category-pressreleases","10":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rambus Reports Fourth Quarter And Fiscal Year 2024 Financial Results - 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