Rambus Inc.
rambus.comWhat Do They Do?
Sells memory-interface chips, silicon IP and patent licenses to semiconductor, system and cloud companies.
10-K for FY2025, filed Feb 18, 2026Rambus provides complete chipset solutions for industry-standard DDR5 and LPDDR5 memory modules for server and client systems, including…View ↗
We sell memory interface chips directly and indirectly to memory module manufacturers, OEMs and hyperscalers worldwide through multiple…View ↗
We sell Silicon IP solutions to leading chip makers worldwide for integration into their custom silicon, Application Specific Standard…View ↗
Our patented inventions are foundational to the semiconductor industry and are licensed to leading semiconductor and system companies…View ↗
How Do They Make Money?
Customers pay for memory-interface chips when they ship. Patent licenses bring fixed payments over time, royalties based on licensees’ sales or use of the IP, or both; software and engineering fees cover licenses, integration, support and maintenance, with billing varying by contract.
10-K for FY2025, filed Feb 18, 2026Product revenue is recognized upon shipment of product to customers, net of accruals for estimated sales returns and allowances, and to…View ↗
Patent and technology licensing arrangements result in fixed payments received over time, with guaranteed minimum payments on occasion…View ↗
Contract and other revenue consists of software license fees and engineering fees associated with integration of the Company’s technology…View ↗
An initial software arrangement may consist of a term-based or perpetual license, significant software customization services and support…View ↗
Contract and other revenue consists primarily of Silicon IP, which is comprised of our high-speed interface and security IP. Revenue…View ↗
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10-K for FY2025, filed Feb 18, 2026
FY2025 revenue by product or service ↗
$707.6M
-
10-K for FY2025, filed Feb 18, 2026
$707.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product revenue
Sold outright
10-K for FY2025, filed Feb 18, 2026 |
49%
FY2022: 50%
|
Product revenue, FY2025
$347.8M Sources
|
Sold outright |
|
Royalties
Licensed
10-K for FY2025, filed Feb 18, 2026 |
39%
FY2022: 31%
|
Royalties, FY2025
$279.4M Sources
|
Licensed |
|
Contract and other revenue
Mix
|
11%
FY2022: 19%
|
Contract and other revenue, FY2025
$80.5M Sources
|
Mix |
Who Are Their Customers?
Memory-module makers, OEMs and cloud providers buy chips directly or through distributors. Chipmakers buy silicon IP through Rambus’s direct sales force, while semiconductor and electronics companies license its patents.
10-K for FY2025, filed Feb 18, 2026We sell memory interface chips directly and indirectly to memory module manufacturers, OEMs and hyperscalers worldwide through multiple…View ↗
We sell Silicon IP solutions to leading chip makers worldwide for integration into their custom silicon, Application Specific Standard…View ↗
Our patent licenses enable our customers to use specified portions of our portfolio of patented inventions in the customer’s own digital…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 33 cents of every revenue dollar as net income in FY2025 and turned 47 cents into free cash flow.
10-K for FY2025, filed Feb 18, 2026
$260.2MView ↗
10-K for FY2025, filed Feb 18, 2026
$230.5MView ↗
10-K for FY2025, filed Feb 18, 2026
$333.2MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2026, filed Oct 26, 2026
$74.6MView ↗
- ▲ +54%
- vs $48.4M in Q3 FY2025
10-Q for Q3 FY2026, filed Oct 26, 2026
Open tableView ↗
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Jul 27, 2026
Set third-quarter revenue and earnings guidance
Forecast revenue of $210 million to $216 million and GAAP diluted earnings per share of $0.59 to $0.67.
Sources
8-K, filed Jul 27, 2026
For the third quarter of 2026, the Company expects revenue to be between $210 million and $216 million. The Company also expects product…View ↗
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Apr 29, 2026
Appointed Sumeet Gagneja chief financial officer
Sources
8-K, filed Apr 29, 2026
The Board of Directors (the “Board”) of Rambus Inc. (“Rambus” or the “Company”) has appointed Sumeet Gagneja as the Senior Vice President…View ↗
Growing. Revenue grew 2.2x in 4 years, from $328.3M in FY2021 to $707.6M in FY2025, about 21% a year.
Broader customer systems
Rambus’s memory-interface offering has expanded beyond server memory modules to client systems: the older report describes chips for server modules, while the latest includes chipsets for both server and client systems.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 18, 2026Made for high speed, reliability and power efficiency, Rambus DDR memory interface chips for server memory modules (e.g., RDIMMs) enable…View ↗
Rambus provides complete chipset solutions for industry-standard DDR5 and LPDDR5 memory modules for server and client systems, including…View ↗
Who Do They Compete With?
Competes with Monolithic Power Systems, Montage Technology, Renesas, Texas Instruments, Cadence, and Synopsys
10-K for FY2025, filed Feb 18, 2026The semiconductor industry is intensely competitive and is characterized by rapid technological change, short product life cycles, cyclical…View ↗
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