Rambus Reports Fourth Quarter and Fiscal Year 2020 Financial Results

 

Rambus Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)



Three Months Ended
December 31,


Year Ended
December 31,


2020


2019


2020


2019

Revenue:








Royalties

$

27,732



$

19,434



$

80,985



$

90,785


Product revenue

21,774



26,600



113,996



72,972


Contract and other revenue

12,407



13,913



47,766



60,270


Total revenue

61,913



59,947



242,747



224,027


Cost of revenue:








Cost of product revenue

7,468



9,311



37,749



27,156


Cost of contract and other revenue

1,647



1,637



5,647



9,905


Amortization of acquired intangible assets

4,336



3,628



17,352



14,314


Total cost of revenue

13,451



14,576



60,748



51,375


Gross profit

48,462



45,371



181,999



172,652


Operating expenses:








Research and development

34,752



36,820



139,837



156,815


Sales, general and administrative

21,232



24,538



85,619



101,373


Amortization of acquired intangible assets

229



334



1,061



2,743


Restructuring and other charges

3,253



4,588



4,089



8,821


(Gain) loss on divestiture



(7,698)





7,439


Change in fair value of earn-out liability





(1,800)




Total operating expenses

59,466



58,582



228,806



277,191


Operating loss

(11,004)



(13,211)



(46,807)



(104,539)


Interest income and other income (expense), net

3,081



6,263



17,516



27,375


Interest expense

(2,619)



(2,550)



(10,340)



(9,852)


Interest and other income (expense), net

462



3,713



7,176



17,523


Loss before income taxes

(10,542)



(9,498)



(39,631)



(87,016)


Provision for income taxes

1,524



34



3,978



3,403


Net loss

$

(12,066)



$

(9,532)



$

(43,609)



$

(90,419)


Net loss per share:








Basic

$

(0.11)



$

(0.09)



$

(0.39)



$

(0.81)


Diluted

$

(0.11)



$

(0.09)



$

(0.39)



$

(0.81)


Weighted average shares used in per share calculation:








Basic

112,706



111,883



113,254



110,948


Diluted

112,706



111,883



113,254



110,948



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