Filing Flows › Rambus (RMBS) › Q2 2025
Rambus (RMBS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 29, 2025
Rambus (RMBS) reported revenue of $172M for the second quarter 2025 (Q2 2025), +30% from a year earlier and +3% from the quarter before. Operating margin was 36.6%, net earnings $57.9M (33.6% of revenue).
Rambus, Q2 2025: revenue $172M (+30% year over year), operating margin 36.6%, net earnings $57.9M, operating cash flow $94.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $172M | +3% | +30% |
| Gross profit | $137M | +3% | +31% |
| Operating profit | $63.0M | -0.2% | +56% |
| Net earnings | $57.9M | -4% | +61% |
| Operating cash flow | $94.4M | +22% | +34% |
| Free cash flow | $87.9M | +26% | +49% |
What changed
Revenue was $172.2M in Q2 2025, up 30% year over year and up 3% from the previous quarter. Product Revenue was the largest line at 47% of revenue. Product Revenue added $24.6M year over year (up 43%), 61% of the total change.
Gross margin was 79.8%, up 0.1 points from a year earlier. Operating profit was $63.0M, a 36.6% margin (up 6.1 points year over year). Of the extra revenue versus a year earlier, 57% reached operating profit, above the 31% margin then. Operating expenses grew 15% against revenue growth of 30%. The fastest-growing cost line was SG&A (+15%). Net earnings were $57.9M, up 61% year over year. The effective tax rate was 14.6%.
Operating cash flow was $94.4M (up 34% year over year), 163% of net earnings. Non-cash charges added back $3.0M of depreciation and amortization and $14.2M of share-based compensation. Working capital and other items added $19.2M. Capital expenditures of $6.5M left free cash flow of $87.9M.
Questions
What was Rambus' revenue in the second quarter 2025?
Rambus (RMBS) reported revenue of $172M for the second quarter 2025 (Q2 2025), +30% from a year earlier and +3% from the quarter before.
Was Rambus profitable in the second quarter 2025?
Operating profit was $63.0M (36.6% of revenue) and net earnings $57.9M.
Source: Rambus 10-Q on SEC EDGAR.