Rambus Inc. (RMBS) Earnings
Rambus Inc. is expected to report next earnings on July 27, 2026 (in NaN days), with a consensus EPS estimate of $0.71. RMBS has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +2.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 27, 2026 | $0.61 | $0.63 | +3.3% | $180M | +0.1% |
| Feb 2, 2026 | $0.68 | $0.68 | +0.0% | $190M | +1.1% |
| Feb 3, 2025 | $0.58 | $0.59 | +1.7% | $161M | +0.3% |
| May 1, 2023 | $0.42 | $0.44 | +4.8% | $114M | -7.0% |
| Feb 6, 2023 | $0.45 | $0.47 | +4.4% | $122M | -19.5% |
| May 2, 2022 | $0.37 | $0.39 | +5.4% | $99M | -22.6% |
| Feb 7, 2022 | $0.37 | $0.39 | +5.4% | $92M | -25.4% |
| Nov 1, 2021 | $0.33 | $0.34 | +3.0% | $81M | -28.1% |
| May 3, 2021 | $0.28 | $0.30 | +7.1% | $70M | -31.6% |
| Feb 1, 2021 | $0.25 | $0.28 | +12.0% | $62M | -36.1% |
| Nov 2, 2020 | $0.27 | $-0.05 | -118.5% | $57M | +11.1% |
| May 4, 2020 | $0.23 | $-0.02 | -108.7% | $64M | +39.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 27, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Luke started with an overview of the business, noting a strong first quarter with meeting financial targets and expanding AI-related portfolios. John discussed financial results: Q1 revenue was $180.2 million, in line with expectations; product revenue was $88 million, up 15% y-o-y; royalty revenue was $69.6 million; licensing billings were $70.8 million. Luke also mentioned chip business execution on DDR5 R3D chips, expansion of LPDDR5 EXO-CAM2 module chipset; silicon IP business had strong customer traction in Q1 with design wins and new IP offerings like HBM4E controller and network security engine.
Guidance
Expects Q2 revenue between $192 - $198 million; product revenue between $95 - $101 million, a 11% sequential increase at midpoint; royalty revenue $72 - $78 million; licensing billings $76 - $82 million; Q2 non-GAAP total operating costs $110 - $114 million; capital expenditures approx. $14 million; non-GAAP operating results between $78 - $88 million profit; interest and other income $7 million; non-GAAP tax expenses $13.6 - $15.2 million; diluted share count 110 million; non-GAAP EPS $0.65 - $0.73.
Segment performance
Chip business: Product revenue was $88 million in Q1, up 15% year-over-year, accounting for approximately 48.8% of total revenue ($180.2 million). Silicon IP: Contract and other revenue was $22.6 million, representing around 12.5% of total revenue.
Risks & headwinds
Forward-looking statements subject to risks and uncertainties, including those that may cause actual results to differ materially; risks related to supply chain constraints, market trend changes, technology evolution affecting business performance.
Analyst Q&A
Q: Kevin Gerrigan asked about product revenue in Q2 and recovery.
A: Luke said supply chain issue is behind, Q2 product revenue guided at 11% over Q1, demand strong.
Q: Tristan Guerra inquired about component shortages impact and MRDM opportunity.
A: Luke mentioned supply tension on back end, MRDM ramp starting in 2027 driven by platform launches.
Q: Erin Rakers asked about MRDM attach rate and CXL.
A: Luke said modeled conservative attach rate for MRDM, focused on IP business.
Q: Gary Mobley asked about license billing and contract revenue growth.
A: Luke explained strong traction in silicon IP business, stable patent licensing business.
Q: Kevin Cassidy asked about inventory building.
A: Luke said monitoring supply tightening and new product ramps.
Q: Mehdi Hosseini asked about LPDDR SOCAM2 chipset content and DDR5 Gen4/5 ramp.
A: Luke explained chipset content and Gen5 product launch timing.
Q: Mark Lapasis asked about DIMM attach rate and back end tightness cause.
A: Luke answered on attach rate difficulty to model and back end tightness from increased demand and supply chain relocation.