Rambus Q2 revenue rises to $132.1 million; net income falls to $36.1 million
Rambus reported second-quarter 2024 results for the period ended June 30, 2024, with GAAP revenue of $132.1 million, up from $119.8 million a year earlier, and operating income of $40.3 million, up from $11.7 million. Net income fell to $36.1 million, or $0.33 per diluted share, from $168.9 million, or $1.51, a year earlier, when the company recorded an income tax benefit of $155.3 million. Shareholders get higher revenue and operating income, but reported earnings declined against a prior-year period that included that tax benefit, and the company said it expects a strong third quarter.
Key points
- GAAP revenue was $132.1 million versus $119.8 million in Q2 2023; product revenue was $56.7 million and royalties were $56.4 million.
- Net income was $36.1 million, or $0.33 per diluted share, versus $168.9 million, or $1.51, in Q2 2023, which included a $155.3 million income tax benefit.
- Cash from operating activities was $70.4 million, versus $50.4 million a year earlier; cash and marketable securities totaled $432.9 million at June 30, 2024.
- Third-quarter 2024 outlook calls for product revenue of $62 million to $68 million and licensing billings of $60 million to $66 million; full revenue guidance will be discussed on the conference call.
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 29, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.