Short answer
RAMBUS INC (RMBS) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $708M (+27.1% year over year) and net income of $230M.
- Top risk flagged: Regulatory risk: Violations of the Foreign Corrupt Practices Act of 1977 (FCPA) by distributors could materially harm business
FY2025 key financial metrics · XBRL
- Revenue
- $708M
- +27.1% YoY
- Net income
- $230M
- +28.2% YoY
- Operating margin
- 36.8%
- +3.9 pp YoY
- Gross margin
- 79.6%
- −0.6 pp YoY
- EPS (diluted)
- $2.11
- +27.9% YoY
- ROE
- 16.9%
- +0.8 pp YoY
- Operating cash flow
- $360M
- +56.1% YoY
Source: XBRL data from the RAMBUS INC (RMBS) FY2025 10-K on SEC EDGAR. USD.
RAMBUS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global semiconductor company specializing in memory interface chips, silicon intellectual property (IP), and patents for data-intensive computing systems focused on data center and AI infrastructure
- New emphasis this year: Accelerated focus on AI-driven computing enabling extreme data rates and enhanced signal and power integrity across data center, edge, and client markets
- Strategic shift: Expansion of server-class memory technologies into client devices such as AI personal computers to broaden market reach
- Notable quantitative metric: Revenue grew to $707.6M in FY2025 from $556.6M in FY2024, with net income rising to $230.5M from $179.8M
- Unique fact: Significant reversal from prior years’ accumulated deficit to retained earnings of $76.8M in 2025 versus ($153.7M) in 2024 reflecting improved profitability and cash flow
Risk Factors
- Regulatory risk: Violations of the Foreign Corrupt Practices Act of 1977 (FCPA) by distributors could materially harm business
- Geopolitical/macro risk: Tariffs, trade restrictions, or strained trade relationships may reduce customer demand and harm business
- Supply chain risk: Advance inventory purchasing based on forecasted demand risks insufficient or excess inventory, impacting financial condition
- Competitive risk: Prospective customers internally developing competing technologies that may avoid licensing fees threaten market share
- Financial risk: Top five customers represent approximately 66% of revenue in 2025, concentration risks substantial declines if lost
Generated from the filing text; verify against the original. How to read a 10-K
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