Rambus Inc. Condensed Consolidated Statements of Operations (Unaudited) | ||||||||||||||||
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| Three Months Ended June 30, |
| Six Months Ended June 30, | ||||||||||||
(In thousands, except per share amounts) |
| 2021 |
| 2020 |
| 2021 |
| 2020 | ||||||||
Revenue: |
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Product revenue |
| $ | 31,170 |
|
| $ | 31,725 |
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| $ | 61,951 |
|
| $ | 62,453 |
|
Royalties |
| 41,910 |
|
| 18,744 |
|
| 70,769 |
|
| 40,226 |
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Contract and other revenue |
| 11,779 |
|
| 11,248 |
|
| 22,521 |
|
| 24,815 |
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Total revenue |
| 84,859 |
|
| 61,717 |
|
| 155,241 |
|
| 127,494 |
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Cost of revenue: |
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Cost of product revenue |
| 11,422 |
|
| 10,277 |
|
| 22,832 |
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| 20,620 |
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Cost of contract and other revenue |
| 1,017 |
|
| 1,535 |
|
| 2,573 |
|
| 2,733 |
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Amortization of acquired intangible assets |
| 4,439 |
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| 4,336 |
|
| 8,825 |
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| 8,680 |
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Total cost of revenue |
| 16,878 |
|
| 16,148 |
|
| 34,230 |
|
| 32,033 |
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Gross profit |
| 67,981 |
|
| 45,569 |
|
| 121,011 |
|
| 95,461 |
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Operating expenses: |
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| Research and development |
| 31,469 |
|
| 34,688 |
|
| 63,823 |
|
| 71,352 |
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| Sales, general and administrative |
| 22,184 |
|
| 21,721 |
|
| 45,746 |
|
| 45,027 |
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| Amortization of acquired intangible assets |
| 229 |
|
| 248 |
|
| 458 |
|
| 596 |
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| Restructuring charges |
| — |
|
| — |
|
| 368 |
|
| 836 |
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| Change in fair value of earn-out liability |
| — |
|
| — |
|
| — |
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| (1,800) |
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| Total operating expenses |
| 53,882 |
|
| 56,657 |
|
| 110,395 |
|
| 116,011 |
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| Operating income (loss) |
| 14,099 |
|
| (11,088) |
|
| 10,616 |
|
| (20,550) |
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| Interest income and other income (expense), net |
| 2,381 |
|
| 4,688 |
|
| 5,362 |
|
| 11,131 |
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| Interest expense |
| (2,683) |
|
| (2,580) |
|
| (5,297) |
|
| (5,135) |
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| Interest and other income (expense), net |
| (302) |
|
| 2,108 |
|
| 65 |
|
| 5,996 |
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| Income (loss) before income taxes |
| 13,797 |
|
| (8,980) |
|
| 10,681 |
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| (14,554) |
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| Provision for income taxes |
| 2,631 |
|
| 160 |
|
| 2,128 |
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| 1,125 |
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| Net income (loss) |
| $ | 11,166 |
|
| $ | (9,140) |
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| $ | 8,553 |
|
| $ | (15,679) |
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| Net income (loss) per share: |
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| Basic |
| $ | 0.10 |
|
| $ | (0.08) |
|
| $ | 0.08 |
|
| $ | (0.14) |
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| Diluted |
| $ | 0.10 |
|
| $ | (0.08) |
|
| $ | 0.07 |
|
| $ | (0.14) |
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| Weighted average shares used in per share calculation |
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| ||||||||
| Basic |
| 112,144 |
|
| 113,572 |
|
| 112,177 |
|
| 113,240 |
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| Diluted |
| 114,931 |
|
| 113,572 |
|
| 115,358 |
|
| 113,240 |
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