AI Earnings Predictions for Rambus Inc. (RMBS)

EX-99.1

2 rmbs-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

News Release

RAMBUS REPORTS THIRD QUARTER 2026 FINANCIAL RESULTS

• Record quarterly revenue of $218.3 million, up 22% year over year, exceeding guidance range

• GAAP diluted earnings per share of $0.69 and non-GAAP diluted earnings per share of $0.84, exceeding guidance range

• Record product revenue of $114.3 million, up 15% quarter over quarter and 22% year over year

• Expanded product and IP offerings for next-generation AI systems, including industry-leading PMIC for LPDDR6 SOCAMM2 and data center-class Root of Trust security IP

SAN JOSE, Calif. – October 26, 2026 – Rambus Inc. (NASDAQ:RMBS), a provider of industry-leading chips and IP making data faster and safer, today reported financial results for the third quarter ended September 30, 2026. Total revenue for the third quarter was $218.3 million, product revenue was $114.3 million, royalties revenue was $77.0 million and contract and other revenue was $27.0 million. GAAP diluted earnings per share was $0.69 and non-GAAP diluted earnings per share was $0.84. The Company also generated a record $102.5 million of cash from operating activities in the third quarter.

Management Commentary

“Rambus delivered record quarterly revenue and earnings that exceeded our guidance, with strong customer demand driving record product revenue and record cash from operations,” said Luc Seraphin, president and chief executive officer of Rambus. “We continue to expand our product and IP offerings to address the growing performance requirements of next-generation AI and data center infrastructure. Through ongoing execution on our roadmap and accelerating demand for our differentiated solutions, we expect an even stronger performance in Q4 and are well positioned to deliver long-term profitable growth and value for our stockholders.”

GAAP

Non-GAAP (1)

Quarterly Financial Review

Three Months Ended September 30,

Three Months Ended September 30,

(In millions, except percentages and per share amounts)

2026

2025

2026

2025

Revenue

Product revenue

$

114.3

$

93.3

$

114.3

$

93.3

Royalties revenue

77.0

65.1

77.0

65.1

Contract and other revenue

27.0

20.1

27.0

20.1

Total revenue

218.3

178.5

218.3

178.5

Cost of product revenue

45.5

34.3

45.3

34.2

Cost of contract and other revenue

0.8

0.5

0.8

0.5

Amortization of acquired intangible assets (included in total cost of revenue)

1.1

1.7

—

—

Total operating expenses

87.3

78.7

70.0

64.6

Operating income

$

83.6

$

63.3

$

102.2

$

79.2

Operating margin

38

%

35

%

47

%

44

%

Net income

$

74.6

$

48.4

$

91.7

$

68.2

Diluted earnings per share

$

0.69

$

0.44

$

0.84

$

0.62

(1) See “Supplemental Reconciliation of GAAP to Non-GAAP Results” table included below. Note that the applicable non-GAAP measures are presented and that revenue is solely presented on a GAAP basis.

GAAP revenue for the quarter was $218.3 million, which exceeded the Company's guidance range of $210 million to $216 million. The Company had product revenue of $114.3 million, royalties revenue of $77.0 million and contract and other revenue of $27.0 million.

The Company had total GAAP cost of revenue of $47.4 million and operating expenses of $87.3 million. The Company also had total non-GAAP operating expenses of $116.1 million (including non-GAAP cost of revenue of $46.1 million). The Company had GAAP diluted earnings per share of $0.69 and non-GAAP diluted earnings per share of $0.84. The Company’s basic share count was 108 million shares and its diluted share count was 109 million shares.

Cash, cash equivalents, and marketable securities as of September 30, 2026 were $776.9 million, a decrease of $48.0 million as compared to June 30, 2026, mainly due to $135.4 million paid for repurchases of common stock and $11.2 million paid for capital expenditures, partially offset by $102.5 million cash provided by operating activities.

2026 Fourth Quarter Outlook

(In millions, except per share amounts)

GAAP

Non-GAAP (1)

Revenue

$227 - $233

$227 - $233

Product revenue

$127 - $133

$127 - $133

Royalties revenue

$68 - $74

$68 - $74

Contract and other revenue

$26 - $32

$26 - $32

Total operating costs and expenses (2)

$143 - $139

$124 - $120

Diluted earnings per share

$0.68 - $0.76

$0.84 - $0.92

(1) See “Reconciliation of GAAP Forward-Looking Estimates to Non-GAAP Forward-Looking Estimates” table included below. Note that the applicable non-GAAP measures are presented and that revenue is solely presented on a GAAP basis.

(2) Total operating costs and expenses include cost of sales and operating expenses.

For the fourth quarter of 2026, the Company expects revenue to be between $227 million and $233 million. The Company also expects product revenue to be between $127 million and $133 million, royalties revenue to be between $68 million and $74 million, and contract and other revenue to be between $26 million and $32 milli

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