Companies /Technology

Rambus Inc

NASDAQ: RMBS Semiconductors
$89.89
▼ $0.14 (−0.16%) today
Markets open · 2:09pm ET

Q2 2026 Earnings

Reported Jul 27, 2026, 4:06pm ET · SEC source
$0.77
Beat +7.69%
EPS · est. $0.72
$207.4M
Beat +4.58%
Revenue · est. $198.3M
−1.5%
Trailing market
RMBS vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−12%−8%−4%0Jul 27Jul 28report 4:06pm ETearnings+0.6%−10.6%
−12%−8%−4%0Jul 27Jul 28earnings+0.6%−10.6%
RMBS −10.6%S&P 500 +0.6%
−12%−8%−4%0Jul 27Jul 28report 4:06pm ETearnings−0.4%−10.6%
−12%−8%−4%0Jul 27Jul 28earnings−0.4%−10.6%
RMBS −10.6%NASDAQ −0.4%
−14%−7%0Jul 27Aug 4report 4:06pm ETearnings+4.4%+2.2%
−14%−7%0Jul 27Aug 4earnings+4.4%+2.2%
RMBS +2.2%S&P 500 +4.4%
−14%−7%0+7%Jul 27Aug 4report 4:06pm ETearnings+5.9%+2.2%
−14%−7%0+7%Jul 27Aug 4earnings+5.9%+2.2%
RMBS +2.2%NASDAQ +5.9%
−8.99%
Day of report
−5.63%
Next session
+14.59%
One week
+2.64%
30 days

S&P 500 over the same 30 days: +4.11%.

Did RMBS Beat Earnings? Q2 2026 Results

Rambus delivered a convincing second quarter for fiscal 2026, posting revenue of $207.38 million, a 20.4% jump from a year ago that cleared the Wall Street consensus of $198.30 million by 4.58%, while non-GAAP diluted EPS of $0.77 beat the $0.71 estimate by 7.69%. The primary engine behind the quarter was record product revenue of $99.15 million, up 22% year over year, as demand for the company's memory interface chips accelerated alongside data center buildouts for AI inference and agentic workloads, a secular tailwind analysts have increasingly highlighted when assessing Rambus's long-term positioning. Royalties revenue also expanded meaningfully, climbing to $84.26 million from $68.61 million in Q2 2025, adding further breadth to the top-line outperformance. Non-GAAP operating income rose to $93.66 million, and the company ended the period with $824.90 million in cash and marketable securities. Looking ahead, management guided Q3 2026 revenue of $210 million to $216 million, with non-GAAP diluted EPS of $0.75 to $0.82, signaling continued sequential momentum in product revenue.

Key Takeaways
  • Record product revenue up 22% year over year and 13% quarter over quarter
  • Royalties revenue grew to $84.2 million from $68.6 million year over year
  • Accelerating demand from data center and AI infrastructure

“Rambus had an outstanding second quarter, delivering a new all-time high in revenue and non-GAAP earnings, fueled by record product revenue that grew more than 20% year over year.”

Rambus CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2026, Rambus expects revenue of $210 million to $216 million, with product revenue of $110 million to $116 million, royalties revenue of $69 million to $75 million, and contract and other revenue of $25 million to $31 million. GAAP diluted EPS is expected between $0.59 and $0.67, and non-GAAP diluted EPS between $0.75 and $0.82. The company expects GAAP operating costs and expenses of $133 million to $137 million and non-GAAP operating costs and expenses of $115 million to $119 million, with interest and other income of $7 million, a GAAP tax rate of 18.7%, a non-GAAP tax rate of 16%, and a diluted share count of 110 million shares.

RMBS YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$60.0M$120.0M$180.0M$172.2M$207.4MRevenue$129.0M$165.4MGross Profit$63.0M$72.7MOperating Income$57.9M$67.6MNet Income
$0$60.0M$120.0M$180.0MRevenueGross ProfitOperating IncomeNet Income

RMBS Revenue by Segment

Product Revenue$99.2M+22.0%
Royalties$84.3M+22.8%
Product Revenue (DDR5 Memory Interface Chips)
Contract and Other Revenue$24.0M+7.6%

Figures from SEC filings and company reports. Not investment advice.