Rambus reports record revenue on product growth
The chip interface company reported total revenue of $207.4 million for the second quarter.
Rambus (RMBS) reported record quarterly revenue of $207.4 million for the second quarter ended June 30, 2026.
The semiconductor intellectual property firm saw total revenue rise 20% year-over-year from $172.2 million in the same period last year. This growth was driven by a record performance in the company's product business, which saw revenue reach $99.2 million.
Product revenue grew 22% year-over-year from $81.3 million in the second quarter of 2025. The segment also demonstrated sequential momentum, increasing 13% from the $88.0 million reported in the first quarter of 2026.
Licensing billings also rose during the period, increasing to $84.1 million from $70.8 million in the prior quarter.
Profitability margins tightened slightly over the year. GAAP operating margin was 35% in the second quarter of 2026, compared to 37% in the second quarter of 2025. Non-GAAP operating margin compressed to 45% from 46% a year earlier, though this followed a deeper dip to 42% in the first quarter of 2026.
For the third quarter of 2026, the company projects total revenue between $210 million and $216 million. Product revenue is expected to continue its upward trajectory, with guidance set between $110 million and $116 million.
Royalties revenue is projected to decline in the third quarter, with guidance between $69 million and $75 million, down from the $84.2 million reported in the second quarter.