Rambus (RMBS) Q3 2026 Earnings
How Did RMBS Stock React to Q3 2026 Earnings?
Did RMBS Beat Earnings? Q3 2026 Results
Yes. Rambus reported Q3 2026 earnings of $0.84 a share on Oct 26, 2026, beating the $0.79 consensus estimate by 6.6%. Revenue was $218.3M against a $213.0M estimate.
Rambus posted a strong Q3 2026, beating analyst expectations on both the top and bottom lines as record product revenue and expanding margins drove results ahead of consensus. The chipmaker reported adjusted non-GAAP EPS of $0.84, topping the $0.79 consensus estimate by 6.56%, while revenue of $218.29 million grew 22.3% year over year and came in 2.48% above the $213.02 million Wall Street had anticipated. The primary engine behind the beat was product revenue, which reached $114.31 million, up 22% year over year and 15% sequentially, reflecting accelerating demand for memory subsystem components tied to AI data center buildouts. Non-GAAP operating margin expanded to 47% from 44% a year ago, and the company generated $102.50 million in operating cash flow for the quarter. With some analysts viewing Rambus as an overlooked beneficiary of the AI memory cycle, the results lend credibility to that thesis. Management guided Q4 2026 revenue to a range of $227 million to $233 million, with non-GAAP diluted EPS expected between $0.84 and $0.92, signaling continued momentum heading into year-end.
- Strong customer demand driving record product revenue
- 22% year-over-year total revenue growth
- Product revenue up 15% quarter over quarter and 22% year over year
- Non-GAAP operating margin expanded to 47% from 44% year over year
- Record $102.5 million cash from operating activities
“Rambus delivered record quarterly revenue and earnings that exceeded our guidance, with strong customer demand driving record product revenue and record cash from operations.”
Rambus CEO, on the earnings call
What Is Rambus's Outlook?
For Q4 2026, Rambus expects total revenue of $227 million to $233 million, with product revenue of $127 million to $133 million, royalties revenue of $68 million to $74 million, and contract and other revenue of $26 million to $32 million. GAAP diluted EPS is expected between $0.68 and $0.76, and non-GAAP diluted EPS between $0.84 and $0.92. GAAP operating costs and expenses are expected between $139 million and $143 million, with non-GAAP operating costs and expenses between $120 million and $124 million. The outlook assumes interest and other income of $6.5 million, a GAAP tax rate of 17.5%, a non-GAAP tax rate of 16%, and a diluted share count of 109 million shares.
RMBS YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $218.3M | $178.5M | +22.3% |
| Gross Profit | $170.9M | $132.9M | +28.6% |
| Operating Income | $83.7M | $63.3M | +32.3% |
| Net Income | $74.6M | $48.4M | +54.1% |
RMBS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.