Rambus Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended

March 31,

2021

2020

Revenue:

Royalties

$

28,859

$

21,482

Product revenue

30,781

30,728

Contract and other revenue

10,742

13,567

   Total revenue

70,382

65,777

Cost of revenue:

Cost of product revenue

11,410

10,343

Cost of contract and other revenue

1,556

1,198

Amortization of acquired intangible assets

4,386

4,344

   Total cost of revenue

17,352

15,885

Gross profit

53,030

49,892

Operating expenses:

Research and development

32,354

36,664

Sales, general and administrative

23,562

23,306

Amortization of acquired intangible assets

229

348

Restructuring charges

368

836

Change in fair value of earn-out liability

—

(1,800)

   Total operating expenses

56,513

59,354

Operating loss

(3,483)

(9,462)

Interest income and other income (expense), net

2,981

6,443

Interest expense

(2,614)

(2,555)

Interest and other income (expense), net

367

3,888

Loss before income taxes

(3,116)

(5,574)

Provision for (benefit from) income taxes

(503)

965

Net loss

$

(2,613)

$

(6,539)

Net loss per share:

Basic

$

(0.02)

$

(0.06)

Diluted

$

(0.02)

$

(0.06)

Weighted average shares used in per share calculation

Basic

112,211

112,907

Diluted

112,211

112,907