RMBS · Rambus Q2 FY2026 earnings call record财报电话会记录

“These statements are subject to risk and uncertainties that may be discussed during the call and more fully described in the documents we filed with SEC, including our 8-Ks, 10-Qs, and 10-Ks.”

“Starting with chips, product revenue reached a new record of $99 million, up 22% year-over-year, and we expect another quarter of double-digit growth in Q3.”

“Customers are building advanced SoCs for high-performance AI systems, driving robust demand for our differentiated IP solutions, spanning advanced memory, connectivity, and security IP.”

“As AI scales and agentic workloads drive greater demand for CPU-based servers and memory, Rambus chips and IP are enabling the performance, connectivity, and security customers need to build the next generations of advanced computing systems.”

“Using an assumed non-GAAP tax rate of 16%, non-GAAP net income for the quarter was $84.4 million, resulting in Q2 non-GAAP earnings per share of $0.77, which is up 24% year-over-year and up 21% sequentially.”

“We ended the quarter with cash equivalents, and marketable securities totaling $825 million, up $39 million from Q1 with solid operating cash flow of $61 million, partially offset by $12 million in capital expenditures and $9 million of net equity outflows.”

“Inventory increased by $16 million during the quarter as we leveraged the strength of our balance sheet to support future product ramps and provide customers with greater supply assurance in the coming quarters.”

“We expect product revenue to be between $110 million and $116 million, a sequential increase of 14% at the midpoint of guidance.”

“We expect Q3 non-GAAP total operating costs, which include cost of sales, to be between $119 million and $115 million.”

“We get the license as we engage, and then our customers build their chips, and it can take them 12, 18, 24 months before the product actually goes into the market.”

“We like to see the product margin looked at on an annual basis at the end of the year, because with short-term supply constraints, mix, and all of that, it can fluctuate from quarter-to-quarter.”

“Recently, as you know, we've been operating in the 60%-63% gross margin, our long-term model of 60%-65% remains intact.”