Rambus Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2020

2019

2020

2019

Revenue:

Royalties

$

16,602

$

19,448

$

53,253

$

71,351

Product revenue

29,769

21,377

92,222

46,372

Contract and other revenue

10,544

16,574

35,359

46,357

Total revenue

56,915

57,399

180,834

164,080

Cost of revenue:

Cost of product revenue

9,661

7,108

30,281

17,845

Cost of contract and other revenue

1,267

2,450

4,000

8,268

Amortization of acquired intangible assets

4,336

3,016

13,016

10,686

Total cost of revenue

15,264

12,574

47,297

36,799

Gross profit

41,651

44,825

133,537

127,281

Operating expenses:

Research and development

33,733

41,486

105,085

119,995

Sales, general and administrative

20,182

26,521

64,387

76,835

Amortization of acquired intangible assets

236

170

832

2,409

Restructuring charges

—

1,374

836

4,233

Change in fair value of earn-out liability

—

—

(1,800)

—

Impairment (recovery) of assets held for sale

—

(1,853)

—

15,137

Total operating expenses

54,151

67,698

169,340

218,609

Operating loss

(12,500)

(22,873)

(35,803)

(91,328)

Interest income and other income (expense), net

3,464

6,727

14,435

21,112

Interest expense

(2,586)

(2,497)

(7,721)

(7,302)

Interest and other income (expense), net

878

4,230

6,714

13,810

Loss before income taxes

(11,622)

(18,643)

(29,089)

(77,518)

Provision for (benefit from) income taxes

1,157

(1,312)

2,454

3,369

Net loss

$

(12,779)

$

(17,331)

$

(31,543)

$

(80,887)

Net loss per share:

Basic

$

(0.11)

$

(0.16)

$

(0.28)

$

(0.73)

Diluted

$

(0.11)

$

(0.16)

$

(0.28)

$

(0.73)

Weighted average shares used in per share calculation

Basic

113,828

111,315

113,437

110,633

Diluted

113,828

111,315

113,437

110,633