Rambus (RMBS) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached a record $218.3M, up 22.3% YoY and above guidance; GAAP diluted EPS was $0.69 and non-GAAP diluted EPS was $0.84.

• Record product revenue and operating cash flow of $102.5M reflected strong data center and AI demand.

• AI infrastructure demand is driving growth across memory products and Silicon IP; investment in product development and AI-enabled design tools supports longer-term opportunity.

Financial highlights

• Revenue was $218.3M; product revenue was $114.3M, royalties $77.0M and contract and other revenue $27.0M, up 22.5%, 18.2% and 34.7% YoY, respectively.

• GAAP net income was $74.6M and diluted EPS was $0.69; non-GAAP net income was $91.7M and diluted EPS was $0.84.

• Non-GAAP operating income was $102.2M; GAAP operating income was $83.7M, with gross profit of $170.9M.

• 9M revenue grew 17.1% YoY to $605.9M; net income was $202.0M and diluted EPS was $1.84.

Outlook and guidance

• Q4 revenue guidance is $227M-$233M, including product revenue of $127M-$133M, royalties of $68M-$74M and contract and other revenue of $26M-$32M.

• Q4 GAAP diluted EPS guidance is $0.68-$0.76 and non-GAAP diluted EPS guidance is $0.84-$0.92; guidance assumes 109M diluted shares.

• Q4 guidance assumes non-GAAP and GAAP tax rates of 16% and 17.5%, respectively, and $6.5M interest and other income; non-GAAP costs and expenses are guided at $120M-$124M.

• 2026 revenue is expected to grow ~18% over 2025, product revenue ~24% and non-GAAP EPS ~24%; demand and backlog visibility are strengthening into 2027.