Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $337M | $393M | $231M | $228M | $246M | $328M | $455M | $461M | $557M | $708M |
| Revenue growth | — | 16.8% | -41.2% | -1.6% | 8.2% | 33.3% | 38.5% | 1.4% | 20.7% | 27.1% |
| Gross profit | — | — | $178M | $176M | $186M | $258M | $347M | $358M | $447M | $563M |
| Gross margin | — | — | 76.8% | 77.4% | 75.3% | 78.6% | 76.3% | 77.6% | 80.2% | 79.6% |
| Operating income | $33.6M | $54.4M | -$87.0M | -$100M | -$44.1M | $24.3M | $76.9M | $154M | $183M | $260M |
| Operating margin | 10.0% | 13.8% | -37.6% | -44.0% | -17.9% | 7.4% | 16.9% | 33.3% | 32.9% | 36.8% |
| Net income | $6.82M | -$22.9M | -$158M | -$86.0M | -$40.5M | $18.3M | -$14.3M | $334M | $180M | $230M |
| Net margin | 2.0% | -5.8% | -68.3% | -37.8% | -16.4% | 5.6% | -3.1% | 72.4% | 32.3% | 32.6% |
| EPS (diluted) | $0.06 | -$0.21 | -$1.46 | -$0.77 | -$0.36 | $0.16 | -$0.13 | $3.01 | $1.65 | $2.11 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $95.6M | $117M | $87.1M | $129M | $185M | $209M | $230M | $196M | $231M | $360M |
| Capital expenditures | $8.56M | $9.38M | $10.8M | $6.47M | $29.7M | $13.8M | $17.5M | $23.2M | $30.7M | $26.8M |
| Free cash flow | $87.0M | $108M | $76.4M | $122M | $156M | $195M | $213M | $173M | $200M | $333M |
| Share buybacks | $0.00 | $50.0M | $50.0M | $0.00 | $50.1M | $100M | $100M | $101M | $113M | $7.11M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $135M | $226M | $116M | $102M | $129M | $108M | $125M | $94.8M | $99.8M | $183M |
| Total assets | $783M | $891M | $1.36B | $1.34B | $1.25B | $1.23B | $1.01B | $1.26B | $1.34B | $1.53B |
| Total liabilities | $231M | $319M | $349M | $368M | $339M | $370M | $233M | $220M | $222M | $165M |
| Shareholders' equity | $553M | $572M | $1.01B | $975M | $913M | $862M | $779M | $1.04B | $1.12B | $1.36B |
| Retained earnings | -$615M | -$636M | -$204M | -$290M | -$358M | -$435M | -$513M | -$286M | -$154M | $76.8M |
| Shares (wtd avg diluted) | 113M | 110M | 108M | 111M | 113M | 115M | 109M | 111M | 109M | 109M |
Every figure is extracted from RAMBUS INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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