Rambus Reports Third Quarter 2021 Financial Results

 

Rambus Inc.

Condensed Consolidated Statements of Operations

(Unaudited)




Three Months Ended

September 30,


Nine Months Ended

September 30,

(In thousands, except per share amounts)


2021


2020


2021


2020

Revenue:









Product revenue


$

36,710



$

29,769



$

98,661



$

92,222


Royalties


33,044



16,602



103,813



56,828


Contract and other revenue


11,528



10,544



34,049



35,359


Total revenue


81,282



56,915



236,523



184,409


Cost of revenue:









Cost of product revenue


13,157



9,661



35,989



30,281


Cost of contract and other revenue


1,456



1,267



4,029



4,000


Amortization of acquired intangible assets


3,813



4,336



12,638



13,016


Total cost of revenue


18,426



15,264



52,656



47,297


Gross profit


62,856



41,651



183,867



137,112


Operating expenses:









Research and development


35,592



33,733



99,415



105,085


Sales, general and administrative


22,210



20,182



67,956



65,209


Amortization of acquired intangible assets


359



236



817



832


Restructuring charges






368



836


Change in fair value of earn-out liability








(1,800)


Total operating expenses


58,161



54,151



168,556



170,162


Operating income (loss)


4,695



(12,500)



15,311



(33,050)


Interest income and other income (expense), net


2,726



3,554



8,088



14,685


Interest expense


(2,672)



(2,586)



(7,969)



(7,721)


Interest and other income (expense), net


54



968



119



6,964


Income (loss) before income taxes


4,749



(11,532)



15,430



(26,086)


Provision for income taxes


1,073



1,205



3,201



2,330


Net income (loss)


$

3,676



$

(12,737)



$

12,229



$

(28,416)


Net income (loss) per share:









Basic


$

0.03



$

(0.11)



$

0.11



$

(0.25)


Diluted


$

0.03



$

(0.11)



$

0.11



$

(0.25)


Weighted average shares used in per share calculation









Basic


108,989



113,828



111,103



113,437


Diluted


113,661



113,828



114,954



113,437



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