Rambus Inc. Condensed Consolidated Statements of Operations (Unaudited) | ||||||||||||||||
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| Three Months Ended September 30, |
| Nine Months Ended September 30, | ||||||||||||
(In thousands, except per share amounts) |
| 2021 |
| 2020 |
| 2021 |
| 2020 | ||||||||
Revenue: |
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Product revenue |
| $ | 36,710 |
|
| $ | 29,769 |
|
| $ | 98,661 |
|
| $ | 92,222 |
|
Royalties |
| 33,044 |
|
| 16,602 |
|
| 103,813 |
|
| 56,828 |
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Contract and other revenue |
| 11,528 |
|
| 10,544 |
|
| 34,049 |
|
| 35,359 |
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Total revenue |
| 81,282 |
|
| 56,915 |
|
| 236,523 |
|
| 184,409 |
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Cost of revenue: |
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|
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|
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Cost of product revenue |
| 13,157 |
|
| 9,661 |
|
| 35,989 |
|
| 30,281 |
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Cost of contract and other revenue |
| 1,456 |
|
| 1,267 |
|
| 4,029 |
|
| 4,000 |
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Amortization of acquired intangible assets |
| 3,813 |
|
| 4,336 |
|
| 12,638 |
|
| 13,016 |
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Total cost of revenue |
| 18,426 |
|
| 15,264 |
|
| 52,656 |
|
| 47,297 |
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Gross profit |
| 62,856 |
|
| 41,651 |
|
| 183,867 |
|
| 137,112 |
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Operating expenses: |
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| Research and development |
| 35,592 |
|
| 33,733 |
|
| 99,415 |
|
| 105,085 |
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| Sales, general and administrative |
| 22,210 |
|
| 20,182 |
|
| 67,956 |
|
| 65,209 |
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| Amortization of acquired intangible assets |
| 359 |
|
| 236 |
|
| 817 |
|
| 832 |
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| Restructuring charges |
| — |
|
| — |
|
| 368 |
|
| 836 |
| ||||
| Change in fair value of earn-out liability |
| — |
|
| — |
|
| — |
|
| (1,800) |
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| Total operating expenses |
| 58,161 |
|
| 54,151 |
|
| 168,556 |
|
| 170,162 |
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| Operating income (loss) |
| 4,695 |
|
| (12,500) |
|
| 15,311 |
|
| (33,050) |
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| Interest income and other income (expense), net |
| 2,726 |
|
| 3,554 |
|
| 8,088 |
|
| 14,685 |
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| Interest expense |
| (2,672) |
|
| (2,586) |
|
| (7,969) |
|
| (7,721) |
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| Interest and other income (expense), net |
| 54 |
|
| 968 |
|
| 119 |
|
| 6,964 |
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| Income (loss) before income taxes |
| 4,749 |
|
| (11,532) |
|
| 15,430 |
|
| (26,086) |
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| Provision for income taxes |
| 1,073 |
|
| 1,205 |
|
| 3,201 |
|
| 2,330 |
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| Net income (loss) |
| $ | 3,676 |
|
| $ | (12,737) |
|
| $ | 12,229 |
|
| $ | (28,416) |
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| Net income (loss) per share: |
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| Basic |
| $ | 0.03 |
|
| $ | (0.11) |
|
| $ | 0.11 |
|
| $ | (0.25) |
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| Diluted |
| $ | 0.03 |
|
| $ | (0.11) |
|
| $ | 0.11 |
|
| $ | (0.25) |
|
| Weighted average shares used in per share calculation |
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|
|
| ||||||||
| Basic |
| 108,989 |
|
| 113,828 |
|
| 111,103 |
|
| 113,437 |
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| Diluted |
| 113,661 |
|
| 113,828 |
|
| 114,954 |
|
| 113,437 |
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