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Rambus (RMBS)

Rambus is a provider of industry-leading chips and silicon IP making data faster and safer. With over 30 years of advanced semiconductor experience, it is a pioneer in high-performance memory subsystems that solve the bottleneck between memory and processing for data-intensive systems. Whether in the cloud, at the edge or in your hand, real-time and immersive applications depend on data throughput and integrity. Rambus products and innovations deliver the increased bandwidth, capacity and security required to meet the world's data needs and drive ever-greater end-user experiences.

Company profile

Ticker
RMBS
Exchange
Website
CEO
Luc Seraphin
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Rambus Canada Inc. • Rambus Controllers, Inc. • Rambus Delaware LLC • Rambus International Ltd. • Rambus K.K. • Rambus Ltd. • Rambus Chip Technologies (India) Private Limited • Rambus Korea, Inc. • Rambus France SAS • Rambus Global Inc. ...
IRS number
943112828

RMBS stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 171.83M 171.83M 171.83M 171.83M 171.83M 171.83M
Cash burn (monthly) 2.56M 2.77M (no burn) 1.17M (no burn) (no burn)
Cash used (since last report) 3.7M 4.01M n/a 1.69M n/a n/a
Cash remaining 168.12M 167.81M n/a 170.13M n/a n/a
Runway (months of cash) 65.7 60.5 n/a 145.5 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 May 22 Kissner Charles Common Stock Sell Dispose S Yes Yes 24.7822 9,674 239.74K 18,747
6 May 22 Kissner Charles Common Stock Sell Dispose S Yes Yes 25.7198 20,000 514.4K 28,421
5 May 22 Kissner Charles Common Stock Sell Dispose S Yes Yes 25.911 20,000 518.22K 48,421
2 May 22 Steven Laub Common Stock Grant Acquire A No No 0 6,108 0 6,108
83.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 273 0 NEW
Opened positions 273 0 NEW
Closed positions 0 241 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 2.98B 0 NEW
Total shares 92.58M 0 NEW
Total puts 634.1K 0 NEW
Total calls 1.11M 0 NEW
Total put/call ratio 0.6
Largest owners Shares Value Change
BLK Blackrock 17.2M $548.49M NEW
Vanguard 12.03M $383.67M NEW
AMP Ameriprise Financial 5.03M $160.4M NEW
STT State Street 4.63M $147.72M NEW
ATAC Neuberger Berman 4.22M $134.65M NEW
Dimensional Fund Advisors 3.72M $118.6M NEW
Loomis Sayles & Co L P 3.07M $97.86M NEW
WHG Westwood 2.52M $80.37M NEW
Lynrock Lake 2.34M $74.7M NEW
Wellington Management 2.25M $71.62M NEW
Largest transactions Shares Bought/sold Change
BLK Blackrock 17.2M +17.2M NEW
Vanguard 12.03M +12.03M NEW
AMP Ameriprise Financial 5.03M +5.03M NEW
STT State Street 4.63M +4.63M NEW
ATAC Neuberger Berman 4.22M +4.22M NEW
Dimensional Fund Advisors 3.72M +3.72M NEW
Loomis Sayles & Co L P 3.07M +3.07M NEW
WHG Westwood 2.52M +2.52M NEW
Lynrock Lake 2.34M +2.34M NEW
Wellington Management 2.25M +2.25M NEW

Financial report summary

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Competition
SynopsysInventergy GlobalLogicMark
Risks
  • We have traditionally operated in, and may enter other, industries that are highly cyclical and competitive.
  • Our revenue is concentrated in a few customers, and if we lose any of these customers through contract terminations or acquisitions, our revenue may decrease substantially.
  • Some of our revenue is subject to the pricing policies of our customers over which we have no control.
  • Our customers often require our products to undergo a lengthy and expensive qualification process which does not assure product sales. If we are unsuccessful or delayed in qualifying any of our products with a customer, our business and operating results would suffer.
  • We may not be able to enhance our existing products and develop new products in a timely manner.
  • Our future revenue depends in meaningful part on sustaining or growing our licensing revenue and the failure to achieve such revenue would lead to a material decline in our results of operations.
  • Our licensing cycle is lengthy and costly, and our marketing and licensing efforts may be unsuccessful.
  • Some of our license agreements may convert to fully paid-up licenses at the expiration of their terms, or upon certain milestones, and we may not receive royalties after that time.
  • Future revenue is difficult to predict for several reasons, and our failure to predict revenue accurately may result in our stock price declining.
  • We may fail to meet our publicly announced guidance or other expectations about our business, which would likely cause our stock price to decline.
  • A substantial portion of our revenue is derived from sources outside of the United States and this revenue and our business generally are subject to risks related to international operations that are often beyond our control.
  • Weak global economic conditions may adversely affect demand for the products and services of our customers.
  • We may have to invest more resources in research and development than anticipated, which could increase our operating expenses and negatively impact our operating results.
  • Any failure in our delivery of high-quality technical support services may adversely affect our relationships with our customers and our financial results.
  • Our operations are subject to the effects of a rising rate of inflation.
  • We rely on third parties for a variety of services, including manufacturing, and these third parties’ failure to perform these services adequately or change the allocation of their services/capacity due to industry or other pressures could materially and adversely affect our business.
  • We rely on a number of third-party providers for data center hosting facilities, equipment, maintenance and other services, and the loss of, or problems with, one or more of these providers may impede our growth or cause us to lose customers.
  • Certain software that we use in certain of our products is licensed from third parties and, for that reason, may not be available to us in the future, which has the potential to delay product development and production or cause us to incur additional expense, which could materially adversely affect our business, financial condition, operating results and cash flow.
  • We face risks related to the ongoing COVID-19 pandemic and subsequent variants, which could significantly disrupt our research and development, operations, sales and financial results.
  • Our business and operations could suffer in the event of physical and cyber security breaches and incidents.
  • Failures in our products and services or in the products of our customers, including those resulting from security vulnerabilities, defects, bugs or errors, could harm our business.
  • Changes in accounting principles and guidance could result in unfavorable accounting charges or effects.
  • We have in the past made and may in the future make acquisitions or enter into mergers, strategic investments, sales of assets, divestitures or other arrangements that may not produce expected operating and financial results.
  • If our counterparties are unable to fulfill their financial and other obligations to us, our business and results of operations may be affected adversely.
  • If we are unable to attract and retain qualified personnel globally, especially in light of a hyper-competitive compensation environment, our business and operations could suffer.
  • Our operations are subject to risks of natural disasters, acts of war, terrorism, widespread illness or security breaches or incidents at our domestic and international locations, any one of which could result in a business stoppage and negatively affect our operating results.
  • We rely upon the accuracy of our customers’ recordkeeping, and any inaccuracies or payment disputes for amounts owed to us under our licensing agreements may harm our results of operations.
  • Our business and operating results could be harmed if we undertake any restructuring activities.
  • Problems with our information systems could interfere with our business and could adversely impact our operations.
  • Certain software we use is from open source code sources, which, under certain circumstances, may lead to unintended consequences and, therefore, could materially adversely affect our business, financial condition, operating results and cash flow.
  • Unanticipated changes in our tax rates or in the tax laws, treaties and regulations could expose us to additional income tax liabilities, which could affect our operating results and financial condition.
  • We are subject to various government restrictions and regulations, including on the sale of products and services that use encryption and other technology and those related to privacy and other consumer protection matters.
  • Litigation and government proceedings could affect our business in materially negative ways.
  • We have in the past, and may in the future, become engaged in litigation stemming from our efforts to protect and enforce our patents and intellectual property and make other claims, which could adversely affect our intellectual property rights, distract our management and cause substantial expenses and declines in our revenue and stock price.
  • From time to time, we are subject to proceedings by government agencies that may result in adverse determinations against us and could cause our revenue to decline substantially.
  • Litigation or other third-party claims of intellectual property infringement could require us to expend substantial resources and could prevent us from developing or licensing our technology on a cost-effective basis.
  • If we are unable to protect our inventions successfully through the issuance and enforcement of patents, our operating results could be adversely affected.
  • Our inability to protect and own the intellectual property we create would cause our business to suffer.
  • Third parties may claim that our products or services infringe on their intellectual property rights, exposing us to litigation that, regardless of merit, may be costly to defend.
  • Any dispute regarding our intellectual property may require us to indemnify certain customers, the cost of which could severely hamper our business operations and financial condition.
  • Warranty, service level agreement and product liability claims brought against us could cause us to incur significant costs and adversely affect our operating results, as well as our reputation and relationships with customers.
  • We have been party to, and may in the future be subject to, lawsuits relating to securities law matters which may result in unfavorable outcomes and significant judgments, settlements and legal expenses which could cause our business, financial condition and results of operations to suffer.
  • Participation in standards setting organizations may subject us to IP licensing requirements or limitations that could adversely affect our business and prospects.
  • The price of our common stock may continue to fluctuate.
  • We are leveraged financially, which could adversely affect our ability to adjust our business to respond to competitive pressures and to obtain sufficient funds to satisfy our future research and development needs, to protect and enforce our intellectual property, and to meet other needs.
  • Compliance with changing regulation of corporate governance and public disclosure may result in additional expenses.
  • Our certificate of incorporation and bylaws, Delaware law, our outstanding convertible notes and certain other agreements contain provisions that could discourage transactions resulting in a change in control, which may negatively affect the market price of our common stock.
Management Discussion
  • Product revenue consists of revenue from the sale of memory and security products.
  • Product revenue increased approximately $29.9 million to $143.9 million for the year ended December 31, 2021 from $114.0 million for 2020. The increase was due to continued market share gains of our memory interface chips.
  • Product revenue increased approximately $41.0 million to $114.0 million for the year ended December 31, 2020 from $73.0 million for 2019. The increase was due to market share gains of our memory interface chips.

Content analysis

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H.S. sophomore Good
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