Companies /Technology
Rambus Inc
NASDAQ: RMBS Semiconductors
$111.48
▼ $2.61 (−2.29%) today
Markets closed · 5:09pm ET

Rambus (RMBS) Q3 2025 Earnings

Reported Oct 27, 2025, 4:11pm ET · SEC source
$0.44
Miss −13.73%
EPS · est. $0.51
$178.5M
Beat +1.62%
Revenue · est. $175.7M
−7.3%
Trailing market
RMBS vs S&P since report
1 quarter
Consecutive EPS beats

How Did RMBS Stock React to Q3 2025 Earnings?

% change · around the report
−14%−7%0+7%Oct 27Oct 28report 4:11pm ETearnings+0.3%−3.5%
−14%−7%0+7%Oct 27Oct 28earnings+0.3%−3.5%
RMBS −3.5%S&P 500 +0.3%
−14%−7%0+7%Oct 27Oct 28report 4:11pm ETearnings+0.8%−3.5%
−14%−7%0+7%Oct 27Oct 28earnings+0.8%−3.5%
RMBS −3.5%NASDAQ +0.8%
−7%0+7%Oct 27Nov 4report 4:11pm ETearnings−1.5%−4.3%
−7%0+7%Oct 27Nov 4earnings−1.5%−4.3%
RMBS −4.3%S&P 500 −1.5%
−7%0+7%Oct 27Nov 4report 4:11pm ETearnings−1.6%−4.3%
−7%0+7%Oct 27Nov 4earnings−1.6%−4.3%
RMBS −4.3%NASDAQ −1.6%
−8.71%
Day of report
+7.37%
Next session
−3.28%
One week
−7.86%
30 days

S&P 500 over the same 30 days: −0.53%.

Did RMBS Beat Earnings? Q3 2025 Results

No. Rambus reported Q3 2025 earnings of $0.44 a share on Oct 27, 2025, missing the $0.51 consensus estimate by 13.7%. Revenue was $178.5M against a $175.7M estimate.

Rambus posted a mixed third quarter for fiscal 2025, beating on revenue but falling short on the bottom line as a sharp jump in taxes weighed on earnings. The memory chip interface company reported revenue of $178.51 million, up 22.7% year over year and ahead of the $175.67 million consensus estimate, driven by a fourth consecutive quarterly record in product revenue of $93.34 million. Yet diluted EPS came in at $0.44, missing the $0.51 analyst consensus by 13.73%, with GAAP net income of $48.38 million barely changed from $48.66 million a year earlier despite the stronger top line. The culprit was a surge in the income tax provision to $20.91 million from $10.37 million, a direct result of tax legislation enacted during the quarter. Shares fell sharply in after-hours trading following the report, even as the company guided Q4 product revenue of $94 to $100 million and signaled continued momentum in data center and AI-driven demand for its DDR5 memory solutions.

Key Takeaways
  • Record product revenue of $93.3 million driven by sustained DDR5 product leadership
  • Strong cash from operations of $88.4 million
  • Revenue exceeded company expectations
  • Licensing billings of $66.1 million

“Rambus delivered a very strong third quarter, with record product revenue and excellent cash from operations, while continuing to execute on our strategic roadmap.”

Rambus CEO, on the earnings call

What Was Rambus's Outlook in Q3 2025?

For Q4 2025, Rambus expects licensing billings of $60–$66 million, royalty revenue of $59–$65 million, product revenue of $94–$100 million, and contract and other revenue of $25–$31 million. GAAP operating costs and expenses are expected to be $116–$120 million, and non-GAAP operating costs and expenses $99–$103 million. The company assumes a non-GAAP tax rate of 20% and a diluted share count of 109.5 million. Full revenue guidance was to be discussed on the conference call.

RMBS YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$50.0M$100.0M$150.0M$145.5M$178.5MRevenue$109.6M$141.9MGross Profit$50.2M$63.3MOperating Income$48.7M$48.4MNet Income
$0$50.0M$100.0M$150.0MRevenueGross ProfitOperating IncomeNet Income
RMBS income statement, Q3 2025 versus Q3 2024
Metric Q3 2025 Q3 2024 Year over year
Revenue $178.5M $145.5M +22.7%
Gross Profit $141.9M $109.6M +29.5%
Operating Income $63.3M $50.2M +26.1%
Net Income $48.4M $48.7M −0.6%

RMBS Revenue by Segment

Product Revenue$93.3M
Royalties$65.1M
Product Revenue (DDR5 Memory Interface Chips)
Contract and Other Revenue$20.1M

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