RMBS - Earnings call transcript Q3 2024

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Operator

Welcome to the Rambus Third Quarter Fiscal Year 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the conference over to Desmond Lynch, Chief Financial Officer.

You may begin your conference.

Desmond Lynch

Thank you, operator, and welcome to the Rambus Third Quarter 2024 Results Conference Call. Chief at Lynch, Desmond am Financial Rambus. Officer I me Luc Seraphin, on the CEO. is with call And our today

The press SEC today has release be been will for filed the results with the on X-K. that Form we discussing

webcasting today during of call at Pacific reference can X:XX are we of on accessed A portions this slides p.m. today's with We that along our will be replay call. this call website Time. beginning

growth XXX forward-looking contain results, discussions including for expectations regarding and will financial market items. effects market revenue Our projected and financial prospects, other other our statements, demand solutions on our the today amongst factors of reported ASC

These statements to our the actual our may under X-Ks, are uncertainties and more from may are fully These are no differ obligation XX-Qs described materially statements. and SEC, be including XX-Ks. these documents and forward-looking with that discussed in statements results, during file call to subject we this the update and risks we

greater website A in financials, release these our both In an financial on and clarity to in the non-GAAP using presentation of included in effort in call. has most and we this directly both our been page financials press the release, on Releases. comparable measures our Investor on the and GAAP presentations press at non-GAAP our GAAP reconciliation provide Relations Financial to are rambus.com slide under

results, of give we our our insight the overview be discuss continue will will of we will follows: will start with better to provide billings then operational financial investors will Q&A. addition, I as with to end as our In The today our such operational metrics into business. and call order performance. an Luc licensing

the to Luc? overview turn over the provide now quarter. an Luc call I'll of to

Luc Seraphin

market our portfolio sequential Thank you, continued everyone. increase of execution revenue, across memory and in delivered Des, product good QX, fueled growing driven strong In by from interface afternoon, chips leadership our sustained a company by growth double-digit DDRX the and products.

and invest return generate we value leadership, quarter share $XX and alone, our and stock cash operations continue to while repurchases. deliver generated fifth our from consistent our in product QX technology we consecutive $XX our of operations marking of of million we In of million to And from cash excellent repurchased stockholders.

respectively. In our were first for XX,XXX to second, leadership, which this referred MRDIMM RDIMMs month, earlier at continued standard as demonstration XXXX the XX,XXX to transfers mega the megawatt at second of per DDRX complete commonly product we transfers industry MRDIMM chipsets X,XXX introduce and RDIMM are and per

workloads, memory center the in demand growth. in and And higher Designed opportunity. addressable represent quarter anticipate market growth of our up consecutive data year-over-year. to meet sequentially of million, double-digit and $XX advanced and chipsets revenue performance a XX% for XX% interface memory we expansion our chips long-term delivered QX, insatiable AI third these QX, significant In new of sequential

new we the we driving share from expected, products. pleased growth RCD to data sales of see increased that are continue of core demand products As and early is year second DDRX our where gain half to this center contributions in

with also the underway by new our are both We for customer very and applications. products qualification excited on feedback client positive server shipments

products. and accelerating the is memory of are sustained of applications of to of products leadership data-intensive The the other critical server powerful rapid and new development advancement the AI architectures, cadence subsystem new growth

and the to growth fundamental to leverage to a drive our sheet strong will market new the company. opportunity expand products we balance investments our strategic growth continue strategy, long-term to our to our As of pillar support in

control systems RDIMM of bandwidth The wave and the earlier, chipsets higher which DDRX in clocking, XXXX, MRDIMM modules. are management of enable and and industry recent features of next capacity DDRX introductions illustrations mentioned the great needed advanced for new action. power higher complete our standard chipsets strategy based and this for These incorporate I the XX,XXX

a our RCD RCD for at or enabling standard MDB, multiplex Gen data industry DDRX MRCD offerings mega-transfers and at next-generation XX,XXX include multiplex X based standard per the second. buffer systems newly X,XXX announced mega-transfers or The recap, MRDIMMs second. enabling As RDIMMs running per operating

And for second-generation both server finally, the MRDIMM. PMIC RDIMM the designed and

and SPD will Our generation DDRX. our chipsets memory the sensor hub temperature both next intercept use future designed for offerings. wave are rounding also and server These in currently utilized MRDIMM targeted modules are out chipset to and RDIMM beyond XXXX that the of platforms comprehensive

allows a a this of flexible around end memory part with the XX,XXX scalable populate architecture and user module wave, that an to next enabling server either XXXX configurations. common server RDIMM are designed As and RDIMM type

ongoing RDIMM Addressing represents compute-intensive an workloads. important and and growth new DDRX XXXX and the AI DDRX. more server utilizes than traditional greater a the of of bandwidth PMIC RCD other X broad first AI supports in versus This and the to a Gen main XX% of deliver generation memory servers server next-generation range benchmark

continues and multiplexing larger to these be AI MRDIMM employing by a this module complex ranks demanding with As DDRX more design DRAM. map key of road data industry to and ever bandwidth does and boosts the needs. system memory efficient standard the greater scale models extending will performance MRDIMM capacity, novel transfer X that by meet rates and to

chips for and XX,XXX the requires using DDRX and physical MRDIMM the support provides greater XX MRCD of while memory the same the complexity bandwidth multiplex more increased doubles of support This DDRX order connections MDB RDIMMs. functionality, devices. and memory In each capacity to to X this channel

well and chips per the the chipsets supports I DRAM second-generation both part higher RDIMM speeds mentioned, and logic our As as module. server previously is This server more as PNIC PMIC XXXX new MRDIMM XX,XXX. of for

Gen X addressable come. ,MRCD The that the Rambus are significantly our RCD, increased of to PMIC, cheap are MDB leadership with in additions our the server demonstrations new along exciting second-generation further years and market and product portfolio to

the X offerings memory further We of accelerators, our industry's applications. our AI-focused block building silicon graphics business. Turning This and drive HPC long-term new portfolio of to HBM IP. AI IP. IP provides controller expanded IP leading continues to first introduction for controller vital HBM cutting-edge the X AI across a momentum with

and Looking ahead, all generative management focused memory Across power, requirements AI system our and spurred workloads. through security innovative solutions. is the on and will by advancing capacity businesses, only connectivity strategically power bandwidth for other of Rambus identify data-intensive and memory, performance

half that was our closing, first QX QX excellent year. half see throughout our for product than the by greater revenue would Consistent a performance strengthening the and track on of to we with year, poised chip the In another we growth strong and company, quarter XX% double-digit double-digit driven for quarter view compared our from are execution the are the product growth for in in second revenue growth of product business.

momentum are products to trends in on MRDIMM and Through leadership the well market center and our chipsets, capitalize continue we addressable industry-first continued RCDs, of secular in in introduction positioned our our growing and to RDIMM AI. and new DDRX data expand

Our strong to us in company that and pursue of while enables initiatives the generation cash growth our consistently to long-term the innovative delivering strategic continue drive stockholders. investing to products value

Des? to the support. that, to their the As thank Des ongoing over customers, turn call for and financial partners employees our discuss to And results. I'll quarterly with always, I'd like

Desmond Lynch

Thank X. the results on you, quarter of our I'd for begin third a financial Slide Luc. with like summary to

We QX are strong our pleased financial with results.

strong Our generation in revenue the quarter. cash with team delivered double-digit product growth

our road shareholders us allow and to capital share and cash Our to product generation invest outstanding to continue results map strategically repurchases. return through profitable in our

we with licensing in and Let we our The million, of while licensing $XXX.X as royalty always line do billings a Revenue in non-GAAP timing billings million, same me between statement revenue summary $XX.X We customers. relates was the $XX.X were was to recognize income you Slide quarter mainly quarter revenue now which difference for Royalty was million. provide revenue not our third bill our X. on the as expectations.

revenue XX% in by $XX.X XX% was sequentially million, DDRX. and consisting up silicon of driven strength $XX IP. and up revenue other Contract Product predominantly year-over-year, million, was continued

only a reported in As of royalty and reminder, silicon and IP in the licensing billings. other contract well revenue our portion portion as remaining is revenue revenue is as in a reflected

and goods for Operating quarter sold a of $XX.X total in $XX.X million. cost with headcount expectations, the of XXX. ended quarter million including costs, our were we of operating were line with Total expenses the

GAAP assumed interest $X.X XXX income, rate million, was net income non-GAAP interest third for tax an million. for was non-GAAP income of which flat ASC income. $XXX,XXX quarter Using the quarter includes the $XX.X and of pretax other XX% for

is We flat our Now offset X. to let of me marketable this expenditures. as on turn totaling with $XX.X to capital and the and balance ended was securities the QX sheet from cash stock million, million $XXX.X by repurchases equivalents operations cash strong cash, details Slide quarter

our X.X fifth repurchased million of In which $XX buybacks. shares share the of we million quarter executing in consecutive retired quarter, approximately stock,

while million, depreciation $XX.X quarter million. expenditures was Third was capital expense $X.X

million flow We in cash delivered the $XX.X of quarter. free

fourth our quarter the Slide on review now me Let outlook X. for

time. at guidance reminder, the a As this estimates reflects current forward-looking our best

to environment We macro actively continue to what monitor results actual materially could differ and review. I'm from about the our

under to customers outlook for licensing information In adjusted which to during the addition ASC invoiced licensing operational an period XXX reflects metric that provide is on we financial billings, certain our also amounts the differences.

billings had expect revenue have and royalty to between reported under closely million, XXX, million between million. revenue million between as million historically, with Under $XX be we $XXX we $XX what revenue quarter we we royalty million in $XX and fourth reported licensing and ASC correlates historically licensing $XXX XXX. As billings $XX ASC to the expect and be

We and expect include non-GAAP QX between to $XX be total $XX million which million. costs, COGS, operating

fourth of approximately $XX $XX capital QX million. results expect $XX the a expected for million is We between XXX expenditures be to ASC to Under and profit non-GAAP million. be operating quarter

of non-GAAP expense, million interest we and other and $X income. For expect income interest

be to and expenses the between million pro forma QX. rate expected We to with tax in non-GAAP XX% approximately tax $XX be million $XX expect

share we range $X.XX QX share and shares per count XXX be between outstanding. QX expect to non-GAAP Overall, million anticipate diluted earnings $X.XX. We the

me our summary In long-term continued investments Slide am pleased to continuing product results execution. with value X. revenue to strong with to on stockholders. with I are well solutions, financial while QX, leadership our positioned Let deliver opportunity of In ahead team growth closing, finish our double-digit the delivered continued in organic DDRX and and our us we cash Through generation. capture a

Before Q&A. I thank operator back their call teamwork to continued employees would for Could our we I'll call With I first begin open that, our to Q&A, question? execution. to the our have up turn the like and to

Operator

[Operator Instructions] from is Cassidy first of Kevin the And with Rosenblatt our Securities. today line question

Kevin Cassidy

on you for maybe the $XX just moving But the the guidance much talk you parts But on licensing. Congratulations came at million, the $XX million, results. to and in help $XX clarify just on might was results, of just there? can better have some the the revenue to contract maybe good what you did million been

Desmond Lynch

Kevin, thanks question. your for

under up up it's show sort of licensing our contract contract shelves, it have customize both previously, Silicon off we IP can another, IP, As IP about sold in classified we licensing the show if billings. will then If and talked as other revenue the billings. and

at look was really you to is our QX $XX if relatively $XX we results, revenue So at flat quarter-over-quarter IP did what million. million silicon see

shift of classification revenue see resulted in in licensing revenue. between IP shelf by However, a contract did which the which offset sold the we was other you billings, more as lower and higher

pleased zoom that revenue an perspective, you in to $XX And I of the million, other $XX licensing add out If up around Kevin, million you show from around scale. to contract billings business silicon IP, our But would annual number. our here. about under you growth the at IP of expect in if we're line meet track our will that's performance with expectation growing see in very silicon on and operate to annual with targets continuing rate and overall, we're a to

Kevin Cassidy

and currently? explanation, controller. for using to the just CPUs guess, for this Is maybe now? That's, that production? have couple Or you -- years for do further to And Do CPU a I Great. of that paid a had X get you signed you paid be the out. license announced HBM to Okay. you device expected wait this having the get in

Luc Seraphin

actually been IP road paid HBMX HBMX. done we the to And announcing 'XX over We customers. the Kevin, years, map consistently -- thank this question. for Typically, our we our get And deliver 'XX. announced when you we've leading the our IP. HBM with HBMX year, we this in in this we've your are

And license. wave we silicon a that of buy every IP in form of companies have the time that

products to wait licenses. these So we production be to not these paid to go for for do

Operator

will today of Blayne line question from next the Jefferies. with The Curtis be

Blayne Curtis

to on follow growth. Congrats question. product revenue want the just Kevin's I Maybe on up

up. sure In of I of terms you not I I'm the guide, in silicon contract it guess back followed math, the IP, have it's for revenue but and lumpy kind

XX%, like fast. I been talked IP growing the XX%. had that kind about silicon You growing at don't of think it's

base Or this kind a comes it just it and I'm is off down? back of So of grows lumpy of kind is of? that curious, kind

to December talk there, XX%, It's basis if there's growth of just maybe if and quarterly a kind can about right then that the reconcile is still hard but you on XX% number. anything in

Desmond Lynch

Blayne, it's Des.

You IP to contract to it is revenue, XX% year, to IP, silicon think is around look expect is, to number they're that for silicon XX% it you mentioned let's I silicon just billings, there. is line are a earlier, within also categories, XX%, way we And licensing call XX% X you that that XX% with others. about which and $XX the million correct, component as split within the across million the one grow at $XX round around the correct -- IP do expectation. growing When this in have

this $XXX And takes business when So PHY divestiture year is the going you that about normalize forward. business the XX% really excited which to the there. from million last up year about about to compared we're

released year. HBMX, have and solutions. PCIe this We X which GDDRX targeted which solutions, products the towards includes AI new really are

going in XX% rate grow into that sort to So been executing expect at year, sort and the we've that going next business XX% growth of would I of XXXX. in forward, to

Blayne Curtis

And a is of just curious was it I or fit? DDRX on had any I been question pickup, recovered quite just this kind it within levels product. small still has small. had

Luc Seraphin

inventories consecutive as is in seen DDRX levels, decline We've at small the still channel. the expected. of sixth

continuing. in DDRX And remain and a the but Des tail this see about quarter, sales with it last was call indicated modest. see million of a $X sales. We the low long we However,

that's given generations we design several quarter-over-quarter is that this footprint from good is of -- The on most good growing news that this us the our expecting on for coming double-digit And we of DDRX. sales had win DDRX. were

now modest But DDRX plays growth DDRX. that that into translates QX very in we're that you're sales in that that our So a and seeing are in growth. of Most in QX. expecting role

Operator

of SIG. today question the line next Mehdi The Hosseini will from be with

Mehdi Hosseini

of to X First to QX want $XX to look $XX revenue, a When much is your from it driven incremental how $XX incremental is to very at you just from these increase, is I what learn million for $XX million by from QX you've product nice increases of million migration how incremental million increase Luc. I of DDRX. companionship to had and of much

exiting into next year, And we a should from? if the look kind $XX we of were from assume to scaling 'XX million that you're

Luc Seraphin

you, Thank Mehdi.

In you're terms of half this year, the second correct. of

in first secure footprint, the making by footprint we're into share. over half The leading worked I to to introducing DDRX XX% of is we've first this the said last Our the product and revenue as years the for translating products are year. second sure year DDRX, contributor X now the few the DDRX market, that is that to part main market There of higher is, in going contributors that. this race the earlier, be in about

explaining share the the DDRX compared half. that growth half to in market second first is So

have the to see initial the We know we versus an QX. but ship also first products we're missed companionships. generation And companionships We should of QX of starting those sales increase into also very the that and where we're see QX. with which qualification on qualification are our volumes with wave have of we excited PMIC first our in customers products we traction

second products with the into announced because the leading-edge this PMICs again. contributor companionships pattern well eventually That's main market is in but of products, modest by the translates going over see we qualification followed footprint. first market And the of over being generation with we're MRDIMM and DDRX share. in to think a the half as So growing why second I growing contribution that

that So that of you QX and saw explains year. the QX between growth this

in We year, product expect similar X probably is a this been product it's continued revenue, a it when our growth full with next has Rapid before announced. plus year production. as takes announced, Typically, on months Granite pattern

into continue swing half so will see quarter-over-quarter customers' next And similar rapid. we're see through qualification contribute MRL to will companionships and continue full production then to with volume the in saw going we're year. our being go with second in volumes our So the volumes, second in growth process we the customers our and preproduction as full of qualification pattern half, going to and half first customers. with to them their a

Mehdi Hosseini

of gross Great. for XX. guided with And end just margin the a higher margin follow-up quick exiting year Des, private of think of the towards gross product to XX% you're low a we range Should your of trending XX%.

Desmond Lynch

Why sort would was by are margin QX. is which against product gross quarter. performance around the I we at ended QX, stronger our question. up XX%, We Good pleased driven in with mix in say of X%

real of As drive margins. and led our driving leading a gross company, strong these us pricing being track to cost we disciplined product have to to a approach continuing which savings, have record in and strong

For expect both side, the 'XX also a of target the full with XX, to of gross of line year margins of sort to be is performance XX% on 'XX are in XX% historical our which to long-term would XX% and chip and around XX%. I

that's up upon the really given operating again, shipping. So course driving In in these down But year, gross record where the quarter, we've margins. strong track we over could term, the really what any products margins have of Mehdi. a longer of depending moving towards are the or been we

Operator

from Kim line Research. is today Arete with Nam question of next The the

Nam Hyung Kim

your CXL ago, strong feel controller a HBM. there? opportunity Can to the time I What's view you years development sentiment to chip line market and on market your few give on of due very doesn't in CXL maybe compared us and Recently, update general CXL seem

Luc Seraphin

Hello, question. thank you for your

do role our silicon growth. we in CXL of a playing IP First all, see

that matter, that people IP see are for us to sign OPCI a actually of using lot is or buying a which from CXL interface. continue chips IP CXL We

But custom the different the are is interface. business. of for -- time, using fragmentation market, that's see very that same good ships a us what CXL our IP at of a silicon we on there's chips lot And

That's a of rapid more of that customers, On CXL believe, our out consolidate And the those X.X. and to we be case Diamond will fragmented. at customers our however, hands going have with testing do products. market those We use are the view. product at side, and in the the precisely node very product the they testing [indiscernible] products

is thing addressed going the expansion like allows be the ecosystem same to alternative MRDIMM that announced, some on other and to that has on which The industry. we've agreed actually by solutions memory the there more as cases existing use such are bandwidth are use for that the capacity infrastructure, solutions whole where more just

So are is that the for that IP we a enjoying place We're IP. monitoring. CXL the this side on we silicon understand growth

We on node CXL it's the are don't for is going product on standard the expansion. volumes ready out. But we're MRDIMM a type be to but side, for memory X.X as believe such sufficient investing applications also until X.X of product we in

Operator

from with question today of Capital. be line the Mobley will next Loop Our Gary

Unknown Analyst

to Thank me a allowing you ask for question. so much

earnings time. some I I important call. I Renaissance you Hynix development last an over MRDIMM joint think evolved in and consequential Rapids and first Sorry, Luc, initially. But about remarks the between technology market the the evolution maybe Granite Intel, way of was your topic. missed spent specific then Intel and to And talking prepared think from a lot time it's

the set the I'm I'm in has like in, standard review market that, will think, evolution. develop thus more you market of to modules market how become wrong correct generation has product for that moved or JEDEC share current But not that you folks way if you if to open you into And me of its you mistaken, in is my have that have equal in DDRX MRDIMM that do given evolves DIMM for greater question MRDIMM

Luc Seraphin

Gary. Thanks,

not your the first statement on bandwidth were good existing on for were to that solutions some JEDEC concept proof ability point there correct were You're that increase MRDIMM in compliant of infrastructure. probably that

we the adopted standard And which get the at Rapid than custom We because in current going solution in MRDIMM industry. the solution that were first is whole by X the also And while the JEDEC higher to day said Diamond we working notch on first announcing not is X the is node. participating XX,XXX, that speed traction were is a X correctly, we with the is to are you JEDEC think the generation. market, as from this which

not the of good DB generation generation, we the this chipsset, developing on The in for are RCD first chipset, very I complex PMIC our for MRDIMM. said And remarks, more prepared becoming but is my got PMIC. only as we've feedback

MRDIMM for developing we're the also solution. So PMIC the

show our there market. a RCD over get us. objective market going to This in the And XXXX a market have for similar as is to that is, we time, share is volumes in early

the our to chipset, the the market introduce goal including So going next similar customers. market our with to the have is RCD. reach qualification we have products the But go complete customers' year to standard PMIC. share customers, to our standard the on through we're to And as we have a

is MRDIMM by aspect what that is. of just it the the nature of content other increases The

on RCD have XX chips module. per module per chip We DB and

have We power companionship will there. and a also offering complete management

at content So be per current to the is target. the see Xx what you least on module going

SAM we say be talk So about it's expansion a we going to us. what for that's when

Unknown Analyst

channel. second into is is you the general mention demand didn't revenue XX% market and versus factoring inventory well, half up depletion the in One general product Seeing that that first thing as specific that recovery half. server some that probably

like that another this product what trends of XXXX? saw sure that for and outlook is isn't in to how revenue? we setting degree So your here the And maybe maybe second for a situation an you and can your situation back the inventory impacting of half rebuild in up year be

Luc Seraphin

question. good a That's

We standard the you're second a in see the half. So recovery yes, did of market correct. server

helping us. that's So

about the of this year is server that growing digit. view Our is market mid-single

digits. guidance take for you our grow our of low the product midpoint If QX, double business should

were of people DDRX. time. depletion, in see are on inventory 'XX. inventory. and point from that in On on DDRX They from early start we in or we the a standpoint, to inventory gaining so believe they DDRX back long on too generations levels are starting do the challenging are DDRX, On point we we just the things come to share are not DDRX, concerned depending of I'll what very are we this of the would expect what reasonable we side about in, for line preproduction levels at production with So

Operator

And Kevin our will from with question Instructions] Rosenblatt of [Operator next today be line Research. the Cassidy

Kevin Cassidy

MRDIMM details of the the standard? versus Will the What are CPUs RDIMM. Xx use most of content expectations number MRDIMM RDIMM? Appreciate the on new or being for, be I the the guess, this architecture servers will

Luc Seraphin

very it really bandwidth. Typically, will the depends, Kevin. really on that's a the cases. large and question, It MRDIMM good provide capacities depends use high

So and a that's at of processes, take would requires the all in standard first box, CPUs do that typical that example, approximation, for because that AI you memory type X of say CPUs an lot AI if for use application box, high very preprocessing, the an the that bandwidth. the MRDIMM would

And MRDIMM find RDIMM lot market the of type for applications it that's important. that not they loads in But standard bandwidth. there the place So cannibalize a don't as need that of natural where will . you'll are applications are a other

of as data high in MRDIMM AI in current see it we end very boxes. such an why type intensive XXXX. And addition sand that's as will our to So start view applications the

Operator

today Our with line the Mehdi of from next is SIG. question Hosseini

Mehdi Hosseini

Yes.

highlighting compare how content thanks understand for IP me HBMX? to HBMX, better is help and but Just compares you it Rambus's content, just And there X on in quick way HBMX any can opportunities, and follow-up me. for

feel operating given all wanted for in leverage for XXXX follow-up into OpEx X then have investments the leverage year And How a should I a we to specific made guide, looking think not but next Des. the asking just you about get for that I'm generally?

Luc Seraphin

First years. for we've of many HBM been developing all, controllers

year, that speed ahead And sits So We've HBM of HBM -- history provide interface. is HBMX actually last controller year. the is that PHY. of the HBMXE this we 'XX, HBMXE the in really right HBMX and question a difference before a in announced between had market. We the of providing our HBMX 'XX HBMX on what

And by release the we of JEDEC defined so to typically, try our controller, our we a that for new their that beat version when room customers are have designs. HBM speed

So their basic That's is ASIC chips. vendors main into same. DPU the CPU use NPU vendors, offering vendors, the to difference speed, that but HBM can is the an memory the controller integrate vendors,

Desmond Lynch

Des. It's

that Let OpEx of me question into asked. jump you sort the

think job as in a and really very struck done being we've growth at we've I disciplined right our a balance nice opportunities. our expenses between to a future where company, managing the good support level really investing

rollout the opportunity R&D In into has with from achieved there. and our which reinvested remarks, XXXX, the similar as increased execution been expense Luc as I've And market divested expense delighted programs. envelope the really new mentioned significantly product we've in been a under operating R&D product PHY back prepared his has this

of we've million product $XX next to million see R&D, our would say been new you operating And year, sort on the quarter. R&D $XX support per will ahead looking that to into I map. additional investment But side. road

this might million to that at you SG&A about framework side, relatively we've terms think think then revenue And $XX the stable of XX% of to as way per in for a XX% correct about. the to million being be reasonable quarter. been Maybe to around $XX

increasing You will future happy I to side opportunities see that SG&A for with as you really, a see from here. sort as inflationary line the grows, of increases top on But there. nice we've leverage think the some But get are result which products new They off us the the very into paying releasing our the of we're ahead. been are going business. investments overall,

Operator

Kim Arete Our with of line next Research. from the question Nam is

Nam Hyung Kim

like the now X new if understand related is developing DIMM Rambus DIMM but standards the I is one MRDIMM part if to other recall question of MCR recently, another I emerge has X Sorry, DIMM, not I'm MRDIMM. been I sure understand is and initiatives. industry those MCR the not correct,

your So versus MCR can explain what's why? view And you on MRDIMM DIMM?

Luc Seraphin

To my or every that DIMM. knowledge, JEDEC related to participating MRDIMM we is standards in MCR are

a is as is participating companies, just of every there. did many for We MRDIM JEDEC. company, definitions the other those product for part are, We're like present be objective out our JEDEC into that to we're like we and

Nam Hyung Kim

also embarked I'm extend [indiscernible] are you think there? curious there, So but not I'm with , starting I MCR to

Luc Seraphin

standard JEDEC Nam. developing are We

We it's also which not in up, is standard. development opposed That's our solutions ecosystem that investments add JEDEC and make these market whole on that you are solutions, sure as have for every for the developing our us investments. are type might the justify only the the side we our for partners solutions to Because not the but the traction in them strategy. And ecosystem. high-volume but custom said market when there large, part in the revenues as may of huge, be the of on important to you player of custom solutions earlier, single take

JEDEC whether on of which industry, for the it's focusing a we drives MRDIMM custom for By assure adoption on of whole or the a RDIMM revenue products or we depending growth all opposed for customers. different as make, standards, to the of set solution

question. that's a our as a good and So strategy very whole,

to and the is us allowing market the a that have products to specified JEDEC by momentum in expect products. we growth we know we we generation do we is have the the of so that or from the that that everyone as are Our traction participating develop a to ecosystem, whole strategy DDRX to address and as JEDEC did have

Operator

to back for over This question-and-answer this there our to are Luc the time, questions. now conference would no I session. remarks. any concludes turn at further closing like Seraphin

Luc Seraphin

to everyone for continued has us day. We time. speaking Have good joined today and your with interest who to soon. you a you again look forward Thank

Operator

conference. you. now Thank This today's concludes

Rambus (RMBS) 28 Oct 242024 Q3 Earnings call transcript