Rambus Inc. reported GAAP revenue of $145.5 million for the third quarter ended September 30, 2024, demonstrating strong sequential and year-over-year growth. Product revenue reached $66.4 million, marking a 27% increase compared to the third quarter of 2023 and a 17% sequential rise.
Licensing billings for the quarter were $65.4 million, while contract and other revenue stood at $15.0 million. The company generated $62.1 million in cash from operating activities during the third quarter, further strengthening its financial position. GAAP diluted net income per share for the period was $0.45.
For the fourth quarter of 2024, Rambus provided an outlook expecting licensing billings between $57 million and $63 million, and product revenue between $72 million and $78 million. Contract and other revenue is projected to be between $22 million and $28 million, with total operating costs anticipated between $86 million and $82 million.
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