Rambus Inc. reported GAAP revenue of $172.2 million for the second quarter ended June 30, 2025, reflecting a very strong performance. Product revenue reached a record $81.3 million, demonstrating continued growth in its core memory interface chip business. Licensing billings for the quarter were $66.4 million, and contract and other revenue was $22.3 million.
The company generated $94.4 million in cash from operating activities in Q2 2025, contributing to a robust cash, cash equivalents, and marketable securities balance of $594.8 million as of June 30, 2025. GAAP diluted net income per share was $0.53, with operating income rising to $63.0 million from $40.3 million in the prior year quarter.
For the third quarter of 2025, Rambus provided an outlook expecting product revenue between $87 million and $93 million, and licensing billings between $58 million and $64 million. Contract and other revenue is projected to be between $22 million and $28 million, with total operating costs and expenses anticipated between $115 million and $111 million, signaling continued momentum in high-performance computing and AI infrastructure.
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