SAN JOSE, Calif.--(BUSINESS WIRE)--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 31, 2024. GAAP revenue for the fourth quarter was $161.1 million; licensing billings were $63.6 million, product revenue was $73.4 million, and contract and other revenue was $29.5 million. The Company also generated $59.0 million in cash provided by operating activities in the fourth quarter.
“We finished 2024 strongly with sequential and year-over-year growth, delivering record annual product revenue and cash from operations,” said Luc Seraphin, chief executive officer of Rambus. “We 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.”
| Quarterly Financial Review - GAAP | Three Months Ended December 31, | |||||||
| (In millions, except for percentages and per share amounts) | 2024 | 2023 | ||||||
| Revenue | ||||||||
| Product revenue | $ | 73.4 | ||||||
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| (1) |
Includes amortization of acquired intangibles of approximately $0.2 million for the three months ended December 31, 2023. Amortization of acquired intangibles was immaterial for the three months ended December 31, 2024. |
| Quarterly Financial Review - Supplemental Information(1) | Three Months Ended December 31, | |||||
| (In millions) | 2024 | 2023 | ||||
| Licensing billings (operational metric)(2) | $ | 63.6 | $ | 66.2 | ||
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Contacts
Desmond Lynch
Senior Vice President, Finance and Chief Financial Officer
(408) 462-8000
dlynch@rambus.com