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EX - 99.1 2 rmbs - ex991_2021331xer.htm EX - 99.1 Rambus Delivered strong Q1 results at high end of revenue and profitability targets Product revenue of $ 30.8 million , up 41 % quarter over quarter , consisting primarily of memory interface chips Generated $ 39.5 million in cash provided by operating activities RAMBUS REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS SAN JOSE , Calif . - May 3 , 2021 - Rambus Inc. ( NASDAQ : RMBS ) , a provider of industry - leading chips and IP making data faster and safer , today reported financial results for the first quarter ended March 31 , 2021. GAAP revenue for the first quarter was $ 70.4 million ; licensing billings were $ 63.5 million , product revenue was $ 30.8 million , and contract and other revenue was $ 10.7 million . The Company also generated $ 39.5 million in cash provided by operating activities . Quarterly Financial Review - GAAP ( In millions , except for percentages and per share amounts ) Revenue " Rambus executed well in the first quarter , with revenue and earnings at the high end of expectations , and strong cash generation fueling investment in our product roadmap , ” said Luc Seraphin , chief executive officer of Rambus . “ Ongoing share gains for memory interface chips and strong demand in Cloud and other target markets are driving topline growth for the company . We are pleased with our customer momentum and are confident in the Company's ability to deliver ongoing profitable growth . " Royalties Product revenue Contract and other revenue Total revenue Cost of product revenue Cost of contract and other revenue Amortization of acquired intangible assets ( included in total cost of revenue ) Total operating expenses Operating loss Operating margin Net loss ( 1 ) Diluted net loss per share Net cash provided by operating activities LA LA LA LA LA LA $ $ $ $ LA LA LA $ $ $ News Release 2021 Three Months Ended March 31 , 28.9 $ 30.8 10.7 70.4 11.4 1.6 4.4 56.5 ( 3.5 ) ( 5 ) % ( 2.6 ) ( 0.02 ) 39.5 $ LA LA LA LA LA $ $ $ $ $ Exhibit 99.1 LA LA LA $ $ $ 2020 21.5 30.7 13.6 65.8 10.3 1.2 4.4 59.4 ( 9.5 ) ( 14 ) % ( 6.5 ) ( 0.06 ) 37.3 ( 1 ) Includes amortization of acquired intangible assets of approximately $ 0.2 million and $ 0.3 million for the three months ended March 31 , 2021 and 2020 , respectively .