Skip to main content

RAMBUS INC

For the period ended Dec 31, 2025. Filed Feb 18, 2026.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 18, 2026

RMBS$80.74+8.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

PAGE
Note Regarding Forward-Looking Statements2
PART I4
Item 1.Business4
Item 1A.Risk Factors11
Item 1B.Unresolved Staff Comments36
Item 1C.Cybersecurity36
Item 2.Properties37
Item 3.Legal Proceedings37
Item 4.Mine Safety Disclosures37
PART II38
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities38
Item 6.Reserved39
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations40
Item 7A.Quantitative and Qualitative Disclosures About Market Risk55
Item 8.Financial Statements and Supplementary Data56
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure56
Item 9A.Controls and Procedures56
Item 9B.Other Information57
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections57
PART III58
Item 10.Directors, Executive Officers and Corporate Governance58
Item 11.Executive Compensation58
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters58
Item 13.Certain Relationships and Related Transactions, and Director Independence58
Item 14.Principal Accountant Fees and Services58
PART IV59
Item 15.Exhibits and Financial Statement Schedules59
INDEX TO EXHIBITS99
SIGNATURES101

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10-K (“Annual Report on Form 10-K”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, without limitation, predictions regarding the following aspects of our future:

Success in the markets of our products and services or our customers’ products;

Sources of competition;

Research and development costs and improvements in technology;

Sources, amounts and concentration of revenue, including royalties;

Success in signing and renewing customer agreements, including license agreements;

The timing of completing engineering deliverables and the changes to work required;

Success in adding and maintaining new customers;

Success in obtaining orders from our customers and our ability to accurately anticipate and meet our customers’ demands;

Success in entering and growth in new markets;

Levels of variation in our customers’ shipment volumes, sales prices and product mix;

Variation in contract and other revenue, based on varying revenue recognized from contract and other revenue;

Implications of short-term or long-term increases in our research and development expenses;

Short-term increases in cost of product revenue;

Variation in our sales, general and administrative expenses;

Terms of our licenses and amounts owed under license agreements;

Technology product development;

Perceived or actual changes in the quality of our products;

Dispositions, acquisitions, mergers or strategic transactions and our related integration efforts;

Impairment of goodwill and long-lived assets;

Pricing policies of our customers;

Changes in our strategy and business model, including the expansion of our portfolio of products, software, services, inventions and solutions to address additional markets in memory, chip and security;

Deterioration of financial health of commercial counterparties and their ability to meet their obligations to us;

Effects of security breaches or failures in our or our customers’ products, system and services on our business;

Engineering, sales, legal, advertising, marketing, general and administration, and other expenses;

Continued product revenue growth, specifically in connection with the growth in sales of our memory interface chips;

International licenses, operations and expansion;

Effects of changes in the economy and credit market on our industry and business;

Effects of natural disasters, climate change and extreme weather events on our supply chain;

Ability to identify, attract, motivate and retain qualified personnel;

Effects of government regulations on our industry and business;

Manufacturing, shipping and supply partners, supply chain availability and/or sale and distribution channels;

Methods, estimates and judgments in existing and new accounting policies;

Effective tax rates, including as a result of recent U.S. tax legislation;

Restructurings and plans of termination;

Realization of deferred tax assets/release of deferred tax valuation allowance;

Trading price of our common stock;

Internal control environment;

Protection of intellectual property (“IP”);

Outcome and effect of potential future IP litigation and other significant litigation.

Any changes in laws, agency actions and judicial rulings that may impact the ability to enforce our IP rights;

Indemnification and technical support obligations;

Equity repurchase programs;

Issuances of debt or equity securities, which could involve restrictive covenants or be dilutive to our existing stockholders;

Effects of fluctuations in inflation, interest rates and currency exchange rates;

Effects of U.S. government restrictions on exports, including with China;

Effects of current and future uncertainty in the worldwide economy, including major central bank policies and worldwide changes in credit markets;

Effects of changes in macroeconomic conditions, increased risk of recession and geopolitical issues;

Management of supply chain risks; and

You can identify these and other forward-looking statements by the use of words such as “may,” “future,” “shall,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “potential,” “continue,” “projecting” or the negative of such terms, or other comparable terminology. Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements.

Actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth under Item 1A, “Risk Factors.” All forward-looking statements included in this document are based on our assessment of information available to us at this time. We assume no obligation to update any forward-looking statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.