Filing Flows › Rambus (RMBS) › Q1 2025
Rambus (RMBS) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Rambus (RMBS) reported revenue of $167M for the first quarter 2025 (Q1 2025), +41% from a year earlier and +3% from the quarter before. Operating margin was 37.9%, net earnings $60.3M (36.2% of revenue).
Rambus, Q1 2025: revenue $167M (+41% year over year), operating margin 37.9%, net earnings $60.3M, operating cash flow $77.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $167M | +3% | +41% |
| Gross profit | $134M | +3% | +42% |
| Operating profit | $63.1M | +9% | +110% |
| Net earnings | $60.3M | -3% | +83% |
| Operating cash flow | $77.4M | +31% | +98% |
| Free cash flow | $69.5M | +32% | +93% |
What changed
Revenue was $166.7M in Q1 2025, up 41% year over year and up 3% from the previous quarter. Product revenue was the largest line at 46% of revenue. Royalties added $26.5M year over year (up 56%), 54% of the total change. Contract and other revenue declined 18%.
Gross margin was 80.3%, up 0.4 points from a year earlier. Operating profit was $63.1M, a 37.9% margin (up 12.3 points year over year). Of the extra revenue versus a year earlier, 68% reached operating profit, above the 26% margin then. Operating expenses grew 10% against revenue growth of 41%. The fastest-growing cost line was Research & development (+14%). Net earnings were $60.3M, up 83% year over year. The effective tax rate was 10.8%.
Operating cash flow was $77.4M (up 98% year over year), 128% of net earnings. Non-cash charges added back $2.8M of depreciation and amortization and $11.4M of share-based compensation. Capital expenditures of $7.9M left free cash flow of $69.5M.
Questions
What was Rambus' revenue in the first quarter 2025?
Rambus (RMBS) reported revenue of $167M for the first quarter 2025 (Q1 2025), +41% from a year earlier and +3% from the quarter before.
Was Rambus profitable in the first quarter 2025?
Operating profit was $63.1M (37.9% of revenue) and net earnings $60.3M.
Source: Rambus 10-Q on SEC EDGAR.