Rambus (RMBS) Q2 2026 Earnings
How Did RMBS Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +4.08%.
Did RMBS Beat Earnings? Q2 2026 Results
Yes. Rambus reported Q2 2026 earnings of $0.77 a share on Jul 27, 2026, beating the $0.72 consensus estimate by 7.7%. Revenue was $207.4M against a $198.3M estimate.
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.
- 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
What Is Rambus's 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
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $207.4M | $172.2M | +20.4% |
| Gross Profit | $165.4M | $129.0M | +28.3% |
| Operating Income | $72.7M | $63.0M | +15.5% |
| Net Income | $67.6M | $57.9M | +16.7% |
RMBS Revenue by Segment
When Does Rambus Report Next?
Figures from SEC filings and company reports. Not investment advice.