Filing Flows › Rambus (RMBS) › Q4 2025
Rambus (RMBS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Rambus (RMBS) reported revenue of $190M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and +7% from the quarter before. Operating margin was 37.2%, net earnings $63.8M (33.6% of revenue).
Rambus, Q4 2025: revenue $190M (+18% year over year), operating margin 37.2%, net earnings $63.8M, operating cash flow $99.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $190M | +7% | +18% |
| Gross profit | $150M | +6% | +16% |
| Operating profit | $70.8M | +12% | +22% |
| Net earnings | $63.8M | +32% | +3% |
| Operating cash flow | $99.8M | +13% | +69% |
| Free cash flow | $93.3M | +13% | +78% |
What changed
Revenue was $190.2M in Q4 2025, up 18% year over year and up 7% from the previous quarter. Product Revenue was the largest line at 51% of revenue.
Gross margin was 78.9%, down 1.6 points from a year earlier. Operating profit was $70.8M, a 37.2% margin (up 1.3 points year over year). Of the extra revenue versus a year earlier, 44% reached operating profit, above the 36% margin then. Operating expenses grew 10% against revenue growth of 18%. The fastest-growing cost line was Research & development (+13%). Net earnings were $63.8M, up 3% year over year. The effective tax rate was 17.3%.
Operating cash flow was $99.8M (up 69% year over year), 156% of net earnings. Non-cash charges added back $3.1M of depreciation and amortization and $14.4M of share-based compensation. Working capital and other items added $18.4M. Capital expenditures of $6.5M left free cash flow of $93.3M.
Questions
What was Rambus' revenue in the fourth quarter 2025?
Rambus (RMBS) reported revenue of $190M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and +7% from the quarter before.
Was Rambus profitable in the fourth quarter 2025?
Operating profit was $70.8M (37.2% of revenue) and net earnings $63.8M.
Source: Rambus 10-K on SEC EDGAR.