Filing Flows › Rambus (RMBS) › Q3 2025
Rambus (RMBS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Rambus (RMBS) reported revenue of $179M for the third quarter 2025 (Q3 2025), +23% from a year earlier and +4% from the quarter before. Operating margin was 35.4%, net earnings $48.4M (27.1% of revenue).
Rambus, Q3 2025: revenue $179M (+23% year over year), operating margin 35.4%, net earnings $48.4M, operating cash flow $88.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $179M | +4% | +23% |
| Gross profit | $142M | +3% | +21% |
| Operating profit | $63.3M | +0.4% | +16% |
| Net earnings | $48.4M | -16% | -0.6% |
| Operating cash flow | $88.4M | -6% | +42% |
| Free cash flow | $82.5M | -6% | +58% |
What changed
Revenue was $178.5M in Q3 2025, up 23% year over year and up 4% from the previous quarter. Product Revenue was the largest line at 52% of revenue. Product Revenue added $26.9M year over year (up 41%), 82% of the total change.
Gross margin was 79.5%, down 1.2 points from a year earlier. Operating profit was $63.3M, a 35.4% margin (down 2.2 points year over year). Of the extra revenue versus a year earlier, 26% reached operating profit, below the 38% margin then. Operating expenses grew 25% against revenue growth of 23%. Net earnings were $48.4M, down 1% year over year. The effective tax rate was 30.2%.
Operating cash flow was $88.4M (up 42% year over year), 183% 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 $22.8M. Capital expenditures of $5.9M left free cash flow of $82.5M.
Questions
What was Rambus' revenue in the third quarter 2025?
Rambus (RMBS) reported revenue of $179M for the third quarter 2025 (Q3 2025), +23% from a year earlier and +4% from the quarter before.
Was Rambus profitable in the third quarter 2025?
Operating profit was $63.3M (35.4% of revenue) and net earnings $48.4M.
Source: Rambus 10-Q on SEC EDGAR.