Rambus Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended
December 31,

Year Ended
December 31,

2019

2018

2019

2018

Revenue:

Royalties

$

19,434

$

45,430

$

90,785

$

130,452

Product revenue

26,600

11,537

72,972

38,690

Contract and other revenue

13,913

11,596

60,270

62,059

Total revenue

59,947

68,563

224,027

231,201

Operating costs and expenses:

Cost of product revenue (1)

9,311

4,367

27,156

18,299

Cost of contract and other revenue

5,265

6,239

24,219

35,402

Research and development (1)

36,820

37,395

156,815

158,339

Sales, general and administrative (1)

24,872

24,768

104,116

103,911

Restructuring charges (recoveries)

4,588

(6)

8,821

2,217

Impairment (recovery) of assets held for sale

(7,698)

—

7,439

—

Total operating costs and expenses

73,158

72,763

328,566

318,168

Operating loss

(13,211)

(4,200)

(104,539)

(86,967)

Interest income and other income (expense), net

6,263

7,248

27,375

32,621

Interest expense

(2,550)

(3,251)

(9,852)

(16,282)

Interest and other income (expense), net

3,713

3,997

17,523

16,339

Loss before income taxes

(9,498)

(203)

(87,016)

(70,628)

Provision for income taxes

34

1,815

3,403

87,329

Net loss

$

(9,532)

$

(2,018)

$

(90,419)

$

(157,957)

Net loss per share:

Basic

$

(0.09)

$

(0.02)

$

(0.81)

$

(1.46)

Diluted

$

(0.09)

$

(0.02)

$

(0.81)

$

(1.46)

Weighted average shares used in per share calculation

Basic

111,883

108,826

110,948

108,450

Diluted

111,883

108,826

110,948

108,450

(1) Total stock-based compensation expense for the three months and years ended December 31, 2019 and 2018 are presented as follows:

Three Months Ended
December 31,

Year Ended
December 31,

2019

2018

2019

2018

Cost of product revenue

$

—

$

1

$

4

$

8

Research and development

$

1,756

$

2,920

$

11,032

$

12,582

Sales, general and administrative

$

3,063

$

3,224

$

15,440

$

9,146