Rambus Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Rambus Inc. has submitted its annual 10-K filing for the fiscal year ended December 31, 2023, detailing its financial performance and corporate information.</b>

AI Summary

RAMBUS INC (RMBS) filed a Annual Report (10-K) with the SEC on February 23, 2024. Rambus Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Delaware and headquartered in San Jose, California. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data from previous fiscal years (2020-2022) is referenced. The report includes details on common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income.

Why It Matters

For investors and stakeholders tracking RAMBUS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Rambus Inc.'s financial health and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial statements and disclosures within the 10-K allow for year-over-year comparisons and analysis of trends in revenue, equity, and other key financial metrics.

Risk Assessment

Risk Level: low — RAMBUS INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Rambus Inc.'s performance and potential challenges in the semiconductor industry.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-23 — Filing Date (Filed as of date)
• 139 — Public Document Count (Total number of documents in the filing)
• 3674 — SIC Code (Standard Industrial Classification for Semiconductors & Related Devices)

Key Players & Entities

• RAMBUS INC (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-23 (date) — Filed as of date
• 408-462-8000 (phone_number) — Business phone
• DE (state) — State of incorporation
• SAN JOSE (city) — Business address city
• CA (state) — Business address state
• 95134 (zip_code) — Business address zip

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-23: Filing Date — Date the 10-K report was officially submitted to the SEC.

Key Financial Figures

• $0.001 — hares of the Registrant's Common Stock, $0.001 par value, was 107,887,603 as of Januar
• $156.8 m — research and development expenses were $156.8 million, $158.8 million and $135.7 millio
• $158.8 million — velopment expenses were $156.8 million, $158.8 million and $135.7 million, respectively. We ex
• $135.7 m — were $156.8 million, $158.8 million and $135.7 million, respectively. We expect to conti

Filing Documents

• rmbs-20231231.htm (10-K) — 2485KB
• rmbs-ex43_2023123110k.htm (EX-4.3) — 27KB
• rmbs-ex211_2023123110k.htm (EX-21.1) — 4KB
• rmbs-ex231_2023123110k.htm (EX-23.1) — 2KB
• rmbs-ex311_2023123110k.htm (EX-31.1) — 11KB
• rmbs-ex312_2023123110k.htm (EX-31.2) — 11KB
• rmbs-ex321_2023123110k.htm (EX-32.1) — 4KB
• rmbs-ex322_2023123110k.htm (EX-32.2) — 4KB
• rmbs-ex97_2023123110k.htm (EX-97) — 36KB
• image_0.jpg (GRAPHIC) — 64KB
• rmbs-20231231_g1.jpg (GRAPHIC) — 160KB
• 0000917273-24-000028.txt (&nbsp;) — 14726KB
• rmbs-20231231.xsd (EX-101.SCH) — 99KB
• rmbs-20231231_cal.xml (EX-101.CAL) — 124KB
• rmbs-20231231_def.xml (EX-101.DEF) — 617KB
• rmbs-20231231_lab.xml (EX-101.LAB) — 1327KB
• rmbs-20231231_pre.xml (EX-101.PRE) — 940KB
• rmbs-20231231_htm.xml (XML) — 2068KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 29 Item 1C. Cybersecurity 30 Item 2.

Properties

Properties 31 Item 3.

Legal Proceedings

Legal Proceedings 31 Item 4. Mine Safety Disclosures 31 PART II 32 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6. Reserved 34 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 50 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 51 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 51 Item 9A.

Controls and Procedures

Controls and Procedures 51 Item 9B. Other Information 52 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 52 PART III 53 Item 10. Directors, Executive Officers and Corporate Governance 53 Item 11.

Executive Compensation

Executive Compensation 53 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 53 Item 13. Certain Relationships and Related Transactions, and Director Independence 53 Item 14. Principal Accountant Fees and Services 53 PART IV 54 Item 15. Exhibits and Financial Statement Schedules 54 INDEX TO EXHIBITS 99

SIGNATURES

SIGNATURES 102 Table of Contents NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Annual Report on Form 10-K") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, without limitation, predictions regarding the following aspects of our future: Success in the markets of our products and services or our customers' products; Sources of competition; Research and development costs and improvements in technology; Sources, amounts and concentration of revenue, including royalties; Success in signing and renewing customer agreements, including license agreements; The timing of completing engineering deliverables and the changes to work required; Success in obtaining new technology development contracts booked in the future; Success in adding and maintaining new customers; Success in obtaining orders from our customers, and our ability to accurately anticipate and meet our customers' demands; Success in entering and growth in new markets; Levels of variation in our customers' shipment volumes, sales prices and product mix; Variation in contract and other revenue, based on varying revenue recognized from contract and other revenue; Implications of short-term or long-term increases in our research and development expenses; Short-term increases in cost of product revenue; Variation in our sales, general and administrative expenses; Terms of our licenses and amounts owed under license agreements; Technology product development; Perceived or actual changes in the quality of our products; Dispositions, acquisitions, mergers or strategic transactions and our related integration efforts; Impairment of goodwill and long-lived assets; Pricing policies of our customers; Changes in our strategy and business model, including the expansion of our portfolio of inventions, products, software, se

Business

Item 1. Business Overview As an industry pioneer with over 30 years of advanced semiconductor design experience, Rambus is dedicated to addressing the challenges of accelerating and protecting data in hardware for the data center and other growing markets. We are a leader in high-performance memory subsystems, providing chips, silicon intellectual property ("IP") and innovations that maximize the performance and security in computationally intensive systems. With the exponential increase in the complexity, size and number of advanced workloads, like generative artificial intelligence ("AI"), the demands on computing infrastructure continue to grow at an accelerated pace. The performance gap between processors and memory is an increasingly significant bottleneck in high-performance systems. Processors and accelerators continue to increase in speed and core count, while memory latency and bandwidth lag behind, creating a "memory wall" inhibiting overall system performance improvements. Throughout our history, Rambus has been focused on advancing memory technologies and novel architectures, as well as delivering the solutions needed to break down the memory wall. We provide industry-leading memory interface chips that enable the highest bandwidth and capacity server memory modules, maximizing memory performance for data-intensive workloads. The broadening adoption of AI also creates opportunities for our silicon IP solutions. Our high-performance digital controller cores are increasingly critical to accelerated computing chips. In addition, the proliferation of application-specific silicon creates increased vulnerabilities to attack as data is distributed across systems, amplifying the need for our industry-leading security IP. Rambus offers a balanced and diverse portfolio of solutions across chips, silicon IP and patent licensing, each of them contributing at scale. The data center continues to be the Company's primary focus market, demanding the highest perfo

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View this 10-K filing on SEC EDGAR