Rambus (RMBS) 10-Q4 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page	6 Months Ended
Cover Page	Jun. 30, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	000-22339
Entity Registrant Name	RAMBUS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3112828
Entity Address, Address Line One	4453 North First Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	462-8000
Title of 12(b) Security	Common Stock, $.001 Par Value
Trading Symbol	RMBS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	109,131,476
Entity Central Index Key	0000917273
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 122,190	$ 125,334
Marketable securities	210,437	187,892
Accounts receivable	63,929	55,368
Unbilled receivables	94,553	125,698
Inventories	33,527	20,900
Prepaids and other current assets	11,829	12,022
Total current assets	536,465	527,214
Intangible assets, net	42,992	50,880
Goodwill	292,040	292,040
Property, plant and equipment, net	87,167	86,255
Operating lease right-of-use assets	21,598	24,143
Deferred tax assets	140,405	3,031
Unbilled receivables	3,298	25,222
Other assets	3,151	3,809
Total assets	1,127,116	1,012,594
Current liabilities:
Accounts payable	17,643	24,815
Accrued salaries and benefits	22,251	20,502
Convertible notes	0	10,378
Deferred revenue	16,779	23,861
Income taxes payable	12,942	18,137
Operating lease liabilities	4,098	5,024
Other current liabilities	27,731	23,992
Total current liabilities	101,444	126,709
Long-term operating lease liabilities	27,160	29,079
Long-term income taxes payable	1,973	5,892
Deferred tax liabilities	5,819	24,964
Other long-term liabilities	45,162	46,653
Total liabilities	181,558	233,297
Commitments and contingencies (Notes 8, 10 and 14)
Stockholders’ equity:
Convertible preferred stock, $.001 par value: Authorized: 5,000,000 shares; Issued and outstanding: no shares at June 30, 2023 and December 31, 2022	0	0
Common stock, $.001 par value: Authorized: 500,000,000 shares; Issued and outstanding: 109,131,476 shares at June 30, 2023 and 107,610,356 shares at December 31, 2022	109	108
Additional paid-in capital	1,301,013	1,297,408
Accumulated deficit	(352,535)	(513,256)
Accumulated other comprehensive loss	(3,029)	(4,963)
Total stockholders’ equity	945,558	779,297
Total liabilities and stockholders’ equity	$ 1,127,116	$ 1,012,594

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Stockholders’ equity:
Convertible preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Convertible preferred stock, authorized shares	5,000,000	5,000,000
Convertible preferred stock, issued shares	0	0
Convertible preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized shares	500,000,000	500,000,000
Common stock, issued shares	109,131,476	107,610,356
Common stock, outstanding shares	109,131,476	107,610,356

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Revenue	$ 119,832	$ 121,132	$ 233,594	$ 220,182
Cost of revenue
Cost of product revenue	18,743	20,417	45,166	38,814
Cost of contract and other revenue	1,294	974	2,985	1,598
Amortization of acquired intangible assets	3,561	3,421	7,123	6,799
Cost of revenue	23,598	24,812	55,274	47,211
Gross profit	96,234	96,320	178,320	172,971
Operating expenses:
Research and development	41,576	39,538	83,474	79,353
Sales, general and administrative	26,187	26,305	57,151	53,211
Amortization of acquired intangible assets	382	417	764	826
Charges	9,494	0	9,494	0
Change in fair value of earn-out liability	6,900	(5,500)	13,800	(4,300)
Total operating expenses	84,539	60,760	164,683	129,090
Operating income	11,695	35,560	13,637	43,881
Interest income and other income (expense), net	2,236	2,738	4,397	4,098
Loss on extinguishment of debt	0	0	0	(66,497)
Loss on fair value adjustment of derivatives, net	0	0	(240)	(8,283)
Interest expense	(376)	(348)	(757)	(953)
Interest and other income (expense), net	1,860	2,390	3,400	(71,635)
Income (loss) before income taxes	13,555	37,950	17,037	(27,754)
Provision for (benefit from) income taxes	(155,325)	2,930	(155,124)	3,444
Net income (loss)	$ 168,880	$ 35,020	$ 172,161	$ (31,198)
Net income (loss) per share:
Basic net income (loss) per share	$ 1.55	$ 0.32	$ 1.59	$ (0.28)
Diluted net income (loss) per share	$ 1.51	$ 0.31	$ 1.55	$ (0.28)
Weighted-average shares used in per share calculation:
Basic (in shares)	109,039	110,447	108,561	110,170
Diluted (in shares)	111,601	112,715	111,373	110,170
Product revenue
Revenue
Revenue	$ 54,978	$ 53,302	$ 118,753	$ 101,271
Royalties
Revenue
Revenue	40,672	48,038	68,841	78,502
Contract and other revenue
Revenue
Revenue	$ 24,182	$ 19,792	$ 46,000	$ 40,409

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 168,880	$ 35,020	$ 172,161	$ (31,198)
Other comprehensive income (loss):
Foreign currency translation adjustment	125	(676)	330	(969)
Unrealized gain (loss) on marketable securities, net of tax	381	(749)	1,604	(3,317)
Total comprehensive income (loss)	$ 169,386	$ 33,595	$ 174,095	$ (35,484)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative effect, period of adoption, adjustment	Common stock	Additional paid-in capital	Additional paid-in capital Cumulative effect, period of adoption, adjustment	Accumulated deficit	Accumulated deficit Cumulative effect, period of adoption, adjustment	Accumulated other comprehensive gain (loss)
Balance (in shares) at Dec. 31, 2021			109,292
Balance at Dec. 31, 2021	$ 862,396		$ 109	$ 1,298,966		$ (435,227)		$ (1,452)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(31,198)					(31,198)
Foreign currency translation adjustment	(969)							(969)
Unrealized gain (loss) on marketable securities, net of tax	(3,317)							(3,317)
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan (in shares)			1,236
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan	(12,699)		$ 2	(12,701)
Stock-based compensation	16,414			16,414
Issuance of common stock in connection with the payment of Year 1 earn-out related to the PLDA acquisition	0
Retirement of convertible senior note hedges	62,011			62,011
Retirement of warrants	(46,356)			(46,356)
Balance (in shares) at Jun. 30, 2022			110,528
Balance at Jun. 30, 2022	838,158		$ 111	1,283,789		(440,004)		(5,738)
Balance (Accounting Standards Update 2020-06) at Jun. 30, 2022		$ (8,124)			$ (34,545)		$ 26,421
Balance (in shares) at Mar. 31, 2022			110,235
Balance at Mar. 31, 2022	793,126		$ 110	1,272,353		(475,024)		(4,313)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	35,020					35,020
Foreign currency translation adjustment	(676)							(676)
Unrealized gain (loss) on marketable securities, net of tax	(749)							(749)
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan (in shares)			293
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan	2,801		$ 1	2,800
Stock-based compensation	8,636			8,636
Balance (in shares) at Jun. 30, 2022			110,528
Balance at Jun. 30, 2022	838,158		$ 111	1,283,789		(440,004)		(5,738)
Balance (Accounting Standards Update 2020-06) at Jun. 30, 2022		$ (8,124)			$ (34,545)		$ 26,421
Balance (in shares) at Dec. 31, 2022			107,610
Balance at Dec. 31, 2022	779,297		$ 108	1,297,408		(513,256)		(4,963)
Increase (Decrease) in Stockholders' Equity
Exercise of the convertible senior note hedges in conjunction with the conversion of convertible senior notes (in shares)			(300)
Balance (in shares) at Mar. 31, 2023			108,845
Balance at Mar. 31, 2023	761,729		$ 109	1,286,570		(521,415)		(3,535)
Balance (in shares) at Dec. 31, 2022			107,610
Balance at Dec. 31, 2022	779,297		$ 108	1,297,408		(513,256)		(4,963)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	172,161					172,161
Foreign currency translation adjustment	330							330
Unrealized gain (loss) on marketable securities, net of tax	1,604							1,604
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan (in shares)			1,323
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan	(26,837)		$ 1	(26,838)
Stock-based compensation	24,438			24,438
Issuance of common stock in connection with the payment of Year 1 earn-out related to the PLDA acquisition (in shares)			198
Issuance of common stock in connection with the payment of Year 1 earn-out related to the PLDA acquisition	5,022			5,022
Issuance of common stock in connection with the maturity of the convertible senior notes related to the settlement of the in-the-money conversion feature of the convertible senior notes (in shares)			284
Exercise of the convertible senior note hedges in conjunction with the conversion of convertible senior notes (in shares)			(284)
Exercise of the convertible senior note hedges in conjunction with the conversion of convertible senior notes				11,440		(11,440)
Retirement of warrants	(10,457)			(10,457)
Balance (in shares) at Jun. 30, 2023			109,131
Balance at Jun. 30, 2023	945,558		$ 109	1,301,013		(352,535)		(3,029)
Balance (in shares) at Mar. 31, 2023			108,845
Balance at Mar. 31, 2023	761,729		$ 109	1,286,570		(521,415)		(3,535)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	168,880					168,880
Foreign currency translation adjustment	125							125
Unrealized gain (loss) on marketable securities, net of tax	381							381
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan (in shares)			286
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan	3,068			3,068
Stock-based compensation	11,375			11,375
Balance (in shares) at Jun. 30, 2023			109,131
Balance at Jun. 30, 2023	$ 945,558		$ 109	$ 1,301,013		$ (352,535)		$ (3,029)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 172,161	$ (31,198)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation	24,438	16,414
Depreciation	18,678	14,889
Amortization of intangible assets	7,888	7,624
Loss on extinguishment of debt	0	66,497
Loss on fair value adjustment of derivatives, net	240	8,283
Deferred income taxes	(156,519)	1,210
Change in fair value of earn-out liability	13,800	(4,300)
Other	489	1,452
Change in operating assets and liabilities, net of effects of acquisition:
Accounts receivable	(8,540)	(18,436)
Unbilled receivables	53,070	46,962
Prepaids and other current assets	(449)	2,850
Inventories	(12,627)	(756)
Accounts payable	(9,204)	7,425
Accrued salaries and benefits and other liabilities	5,126	(2,973)
Income taxes payable	(9,158)	(10,267)
Deferred revenue	(7,200)	(3,263)
Operating lease liabilities	(2,845)	(3,300)
Net cash provided by operating activities	89,348	99,113
Cash flows from investing activities:
Purchases of property, plant, and equipment	(14,487)	(6,433)
Acquisition of intangible assets	0	(3,000)
Acquisition of business, net of cash acquired	0	(15,932)
Purchases of marketable securities	(137,241)	(56,661)
Maturities of marketable securities	29,155	45,324
Proceeds from sales of marketable securities	87,591	204,091
Net cash provided by (used in) investing activities	(34,982)	167,389
Cash flows from financing activities:
Proceeds received from issuance of common stock under employee stock plans	5,084	3,730
Payments of taxes on restricted stock units	(31,921)	(16,429)
Payments under installment payment arrangements	(7,931)	(7,343)
Payments for settlement and repurchase of convertible senior notes	(10,381)	(199,111)
Proceeds from retirement of convertible senior note hedges	0	72,415
Payments for settlement of warrants	(10,697)	(55,148)
Payment of deferred purchase consideration from acquisition	(2,450)	0
Net cash used in financing activities	(58,296)	(201,886)
Effect of exchange rate changes on cash and cash equivalents	426	(1,054)
Net increase (decrease) in cash, cash equivalents and restricted cash	(3,504)	63,562
Cash, cash equivalents and restricted cash at beginning of period	125,694	108,264
Cash, cash equivalents and restricted cash at end of period	122,190	171,826
Non-cash investing and financing activities during the period:
Property, plant and equipment received and accrued in accounts payable and other liabilities	33,256	37,896
Issuance of common stock in connection with the payment of year 1 earn-out related to the PLDA Group acquisition	5,022	0
Operating lease right-of-use assets obtained in exchange for operating lease obligations	$ 0	$ 5,301

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash, cash equivalents and restricted cash
Cash and cash equivalents	$ 122,189	$ 125,338
Restricted cash	0	360
Cash, cash equivalents, and restricted cash	$ 122,190	$ 125,694

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Rambus Inc. (“Rambus” or the “Company”) and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in the accompanying unaudited condensed consolidated financial statements. In the opinion of management, the unaudited condensed consolidated financial statements include all adjustments (consisting only of normal recurring items) necessary to state fairly the financial position and results of operations for each interim period presented. Interim results are not necessarily indicative of results for a full year. The unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim financial information. Certain information and Note disclosures included in the financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been omitted in these interim statements pursuant to such SEC rules and regulations. The information included in this Form 10-Q should be read in conjunction with the consolidated financial statements and notes thereto in Form 10-K for the year ended December 31, 2022.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Contract Balances The contract assets are primarily related to the Company’s fixed fee IP licensing arrangements and rights to consideration for performance obligations delivered but not billed as of June 30, 2023. The Company’s contract balances were as follows: As of (In thousands) June 30, 2023 December 31, 2022 Unbilled receivables $ 97,851 $ 150,920 Deferred revenue 18,217 25,421 During the six months ended June 30, 2023, the Company recognized $17.0 million of revenue that was included in the contract balances as of December 31, 2022. During the six months ended June 30, 2022, the Company recognized $17.8 million of revenue that was included in the contract balances as of December 31, 2021. Remaining Performance Obligations Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $29.0 million as of June 30, 2023, which the Company primarily expects to recognize over the next 2 years.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
Earnings (Loss) Per Share	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per ShareBasic earnings (loss) per share is calculated by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing the earnings by the weighted-average number of common shares and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of incremental common shares issuable upon exercise of stock options, employee stock purchases, restricted stock and restricted stock units and shares issuable upon the conversion of convertible notes. The dilutive effect of outstanding shares is reflected in diluted earnings per share by application of the treasury stock method, or the if-converted method for the in-the-money conversion feature of the 2023 Notes. This method includes consideration of the amounts to be paid by the employees, the amount of excess tax benefits that would be recognized in the equity if the instrument was exercised and the amount of unrecognized stock-based compensation related to future services. No potential dilutive common shares are included in the computation of any diluted per share amount when a net loss is reported. The following table sets forth the computation of basic and diluted net income (loss) per share: Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2023 2022 2023 2022 Net income (loss) per share: Numerator: Net income (loss) $ 168,880 $ 35,020 $ 172,161 $ (31,198) Denominator: Weighted-average shares outstanding - basic 109,039 110,447 108,561 110,170 Effect of potentially dilutive common shares 2,562 2,268 2,812 — Weighted-average shares outstanding - diluted 111,601 112,715 111,373 110,170 Basic net income (loss) per share $ 1.55 $ 0.32 $ 1.59 $ (0.28) Diluted net income (loss) per share $ 1.51 $ 0.31 $ 1.55 $ (0.28) During the six months ended June 30, 2022, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to the Company’s common stockholders because the impact of including them would have been anti-dilutive (in thousands): Six Months Ended June 30, (In thousands) 2022 Stock options 286 Restricted stock units 1,990 Potentially issuable shares related to the in-the-money conversion feature of convertible notes 724 Contingently issuable ESPP shares 19 Total 3,019 The shares in the tables above did not include the principal amount of the Company’s 2023 Notes (“the 2023 Notes”) as the principal amount of the 2023 Notes must be paid in cash. The Company settled the conversion of the remaining $10.4 million aggregate principal amount of the 2023 Notes in the first quarter of 2023. Accordingly, the Company delivered approximately 0.3 million shares of the Company's common stock as settlement related to the in-the-money conversion feature of the 2023 Notes and received an equal amount of shares due to the settlement of the convertible senior note hedges. The Company included dilutive instruments exercised during the period in the denominator of diluted earnings (loss) per share for the period prior to exercise, and thereafter, the Company included the actual shares issued in the denominator for both basic and diluted earnings (loss) per share .

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
Intangible Assets and Goodwill	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Goodwill The following tables present goodwill information for the six months ended June 30, 2023: (In thousands) As of December 31, 2022 Adjustments to Goodwill As of June 30, 2023 Total goodwill $ 292,040 $ — $ 292,040 As of June 30, 2023 (In thousands) Gross Carrying Amount Accumulated Impairment Losses Net Carrying Amount Total goodwill $ 313,810 $ (21,770) $ 292,040 Intangible Assets, Net The components of the Company’s intangible assets as of June 30, 2023 and December 31, 2022 were as follows: As of June 30, 2023 (In thousands) Useful Life Gross Carrying Amount (1) Accumulated Amortization (1) Net Carrying Amount Existing technology 3 to 10 years $ 299,895 $ (268,885) $ 31,010 Customer contracts and contractual relationships 0.5 to 10 years 37,996 (37,214) 782 Trademarks 3 years 300 (300) — In-process research and development (“IPR&D”) Not applicable 11,200 — 11,200 Total intangible assets $ 349,391 $ (306,399) $ 42,992 _________________________________________ (1) During the second quarter of 2023, the Company retired an immaterial intangible asset that was fully amortized. As of December 31, 2022 (In thousands) Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Existing technology 3 to 10 years $ 299,925 $ (261,708) $ 38,217 Customer contracts and contractual relationships 0.5 to 10 years 37,996 (36,533) 1,463 Trademarks 3 years 300 (300) — IPR&D Not applicable 11,200 — 11,200 Total intangible assets $ 349,421 $ (298,541) $ 50,880 Amortization expense for intangible assets for the three and six months ended June 30, 2023 was $3.9 million and $7.9 million, respectively. Amortization expense for intangible assets for the three and six months ended June 30, 2022 was $3.8 million and $7.6 million, respectively. The estimated future amortization of intangible assets as of June 30, 2023 was as follows (in thousands): Years Ending December 31: Amount 2023 (remaining six months) $ 7,533 2024 12,726 2025 6,687 2026 4,368 2027 478 Thereafter — Total amortizable purchased intangible assets 31,792 IPR&D 11,200 Total intangible assets $ 42,992

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segments and Major Customers Operating segments are based upon the Company’s internal organization structure, the manner in which its operations are managed, the criteria used by its Chief Operating Decision Maker (“CODM”) to evaluate segment performance and availability of separate financial information regularly reviewed for resource allocation and performance assessment. The Company has determined its CODM to be the Chief Executive Officer (“CEO”). The CEO reviews financial information presented on a consolidated basis for purposes of managing the business, allocating resources, making operating decisions and assessing financial performance. On this basis, the Company is organized and operates as a single segment within the semiconductor space. As of June 30, 2023, the Company has a single operating and reportable segment. Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable at June 30, 2023 and December 31, 2022, respectively, was as follows: As of Customer June 30, 2023 December 31, 2022 Customer 1 64 % * Customer 2 * 23 % Customer 3 * 16 % Customer 4 * 14 % _________________________________________ * Customer accounted for less than 10% of total accounts receivable in the period. Revenue from the Company’s major customers representing 10% or more of total revenue for the three and six months ended June 30, 2023 and 2022, respectively, was as follows: Three Months Ended Six Months Ended June 30, June 30, Customer 2023 2022 2023 2022 Customer A 38 % * 25 % * Customer B 12 % 19 % 15 % 21 % Customer C * 17 % * 13 % Customer D * 13 % * 13 % __________________________________________ * Customer accounted for less than 10% of total revenue in the period. Revenue from customers in the geographic regions based on the location of contracting parties was as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2023 2022 2023 2022 USA $ 35,429 $ 67,285 $ 99,068 $ 122,969 South Korea 48,613 2,572 62,757 4,037 Singapore 14,718 25,719 26,046 39,764 Taiwan 4,279 10,499 10,788 15,459 China 3,399 7,600 7,654 15,805 Other 13,394 7,457 27,281 22,148 Total $ 119,832 $ 121,132 $ 233,594 $ 220,182

Marketable Securities

Marketable Securities	6 Months Ended
Marketable Securities	Jun. 30, 2023
Debt Securities, Available-for-Sale [Abstract]
Marketable Securities	Marketable Securities Rambus invests its excess cash and cash equivalents primarily in money market funds, time deposits, U.S. government-sponsored obligations, and corporate notes, bonds and commercial paper that mature within three years. All cash equivalents and marketable securities are classified as available-for-sale. Total cash, cash equivalents and marketable securities are summarized as follows: As of June 30, 2023 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 85,826 $ 85,826 $ — $ — Cash equivalents: Money market funds 23,438 23,438 — — U.S. Government bonds and notes 6,957 6,956 1 — Corporate notes, bonds and commercial paper 5,969 5,969 — — Total cash equivalents 36,364 36,363 1 — Total cash and cash equivalents 122,190 122,189 1 — Marketable securities: Time deposits 4,951 4,951 — — U.S. Government bonds and notes 89,592 90,546 — (954) Corporate notes, bonds and commercial paper 115,894 116,953 1 (1,060) Total marketable securities 210,437 212,450 1 (2,014) Total cash, cash equivalents and marketable securities $ 332,627 $ 334,639 $ 2 $ (2,014) As of December 31, 2022 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 94,737 $ 94,737 $ — $ — Cash equivalents: Money market funds 15,763 15,763 — — Corporate notes, bonds and commercial paper 14,834 14,838 — (4) Total cash equivalents 30,597 30,601 — (4) Total cash and cash equivalents 125,334 125,338 — (4) Marketable securities: U.S. Government bonds and notes 96,371 98,250 1 (1,880) Corporate notes, bonds and commercial paper 91,521 93,254 7 (1,740) Total marketable securities 187,892 191,504 8 (3,620) Total cash, cash equivalents and marketable securities $ 313,226 $ 316,842 $ 8 $ (3,624) Available-for-sale securities are reported at fair value on the balance sheets and classified along with cash as follows: As of (In thousands) June 30, 2023 December 31, 2022 Cash $ 85,826 $ 94,737 Cash equivalents 36,364 30,597 Total cash and cash equivalents 122,190 125,334 Marketable securities 210,437 187,892 Total cash, cash equivalents and marketable securities $ 332,627 $ 313,226 The Company continues to invest in highly rated and highly liquid debt securities. The Company holds all of its marketable securities as available-for-sale, marks them to market, and regularly reviews its portfolio to ensure adherence to its investment policy and to monitor individual investments for risk analysis, proper valuation, and unrealized losses that may be other than temporary. The estimated fair value and gross unrealized losses of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position at June 30, 2023 and December 31, 2022 are as follows: Fair Value Gross Unrealized Losses (In thousands) June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Less than 12 months U.S. Government bonds and notes $ 43,962 $ 28,893 $ (174) $ (23) Corporate notes, bonds and commercial paper 87,800 45,538 (226) (35) Total cash equivalents and marketable securities in a continuous unrealized loss position for less than 12 months 131,762 74,431 (400) (58) 12 months or greater U.S. Government bonds and notes 45,631 62,588 (780) (1,857) Corporate notes, bonds and commercial paper 24,969 49,559 (834) (1,709) Total cash equivalents and marketable securities in a continuous unrealized loss position for 12 months or greater 70,600 112,147 (1,614) (3,566) Total cash equivalents and marketable securities in a continuous unrealized loss position $ 202,362 $ 186,578 $ (2,014) $ (3,624) The gross unrealized losses at June 30, 2023 and December 31, 2022 were not material in relation to the Company’s total available-for-sale portfolio. The gross unrealized losses can be primarily attributed to a combination of market conditions as well as the demand for and duration of the U.S. government-sponsored obligations and corporate notes and bonds. The Company reasonably believes that there is no need to sell these investments and that it can recover the amortized cost of these investments. The Company has found no evidence of impairment due to credit losses in its portfolio. Therefore, these unrealized losses were recorded in other comprehensive income (loss). The Company cannot provide any assurance that its portfolio of cash, cash equivalents and marketable securities will not be impacted by adverse conditions in the financial markets, which may require the Company in the future to record an impairment charge for credit losses which could adversely impact its financial results. The contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities are summarized as follows: (In thousands) June 30, 2023 Due less than one year $ 207,899 Due from one year through three years 15,464 Total $ 223,363 Refer to Note 7, “Fair Value of Financial Instruments,” for a discussion regarding the fair value of the Company’s cash equivalents and marketable securities.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
Fair Value of Financial Instruments	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The following table presents the financial instruments and liabilities that are carried at fair value and summarizes their valuation by the respective pricing levels as of June 30, 2023 and December 31, 2022: As of June 30, 2023 (In thousands) Total Quoted Market Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets carried at fair value Money market funds $ 23,438 $ 23,438 $ — $ — Time deposits 4,951 — 4,951 — U.S. Government bonds and notes 96,549 — 96,549 — Corporate notes, bonds and commercial paper 121,863 — 121,863 — Total assets carried at fair value $ 246,801 $ 23,438 $ 223,363 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 28,600 $ — $ — $ 28,600 Total liabilities carried at fair value $ 28,600 $ — $ — $ 28,600 As of December 31, 2022 (In thousands) Total Quoted Market Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets carried at fair value Money market funds $ 15,763 $ 15,763 $ — $ — U.S. Government bonds and notes 96,371 — 96,371 — Corporate notes, bonds and commercial paper 106,355 — 106,355 — Total available-for-sale securities $ 218,489 $ 15,763 $ 202,726 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 14,800 $ — $ — $ 14,800 Total liabilities carried at fair value $ 14,800 $ — $ — $ 14,800 The Company’s liabilities related to earn-out consideration are classified within Level 3 of the fair value hierarchy because the fair value is determined using significant unobservable inputs. The following table presents additional information about liabilities measured at fair value for which the Company utilizes Level 3 inputs to determine fair value, as of June 30, 2023 and 2022. Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2023 2022 2023 2022 Balance as of beginning of period $ 21,700 $ 18,100 $ 14,800 $ 16,900 Change in fair value of earn-out liability due to remeasurement 6,900 (5,500) 13,800 (4,300) Balance as of end of period $ 28,600 $ 12,600 $ 28,600 $ 12,600 For the three and six months ended June 30, 2023 and 2022, the changes in the fair value of the earn-out liability related to the 2021 acquisition of PLDA Group (“PLDA”), which is subject to certain revenue targets of the acquired business for a period of three years from the date of acquisition. The fair value of the earn-out liability is remeasured each quarter, depending on the acquired business’s revenue performance relative to target over the applicable period. The Company has classified its liability for the contingent earn-out consideration related to the PLDA acquisition within Level 3 of the fair value hierarchy because the fair value is determined using significant unobservable inputs. During the three and six months ended June 30, 2023, the Company remeasured the fair value of the earn-out liability, which resulted in additional expenses of $6.9 million and $13.8 million, respectively, in the Company’s unaudited condensed consolidated statements of operations. During the three and six months ended June 30, 2022, the Company remeasured the fair value of the earn-out liability, which resulted in expense reductions of $5.5 million and $4.3 million, respectively, in the Company’s unaudited condensed consolidated statements of operations. The Company monitors its investments for other-than-temporary impairment and records appropriate reductions in carrying value when necessary. The Company monitors its investments for other-than-temporary losses by considering current factors, including the economic environment, market conditions, operational performance and other specific factors relating to the business underlying the investment, reductions in carrying values when necessary and the Company’s ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in the market. Any other-than-temporary loss is reported under “Interest and other income (expense), net” in the unaudited condensed consolidated statements of operations. During the second half of 2018, the Company made an investment in a non-marketable equity security of a private company. This equity investment is accounted for under the equity method of accounting, and the Company accounts for its equity method share of the income (loss) on a quarterly basis. As of June 30, 2023, the carrying value of the Company’s 25.0% ownership percentage was reduced to zero as the carrying value had been adjusted by an equal and offsetting amount of the Company’s share of the investee’s cumulative losses. As of December 31, 2022, the carrying value of the Company’s 25.0% ownership percentage was $0.5 million, which was included in other assets in the accompanying unaudited condensed consolidated balance sheets. The Company recorded immaterial amounts in its condensed consolidated statements of operations representing its share of the investee’s loss for the six months ended June 30, 2023 and 2022. During the three and six months ended June 30, 2023 and 2022, there were no transfers of financial instruments between different categories of fair value. The following table presents the financial instruments that are not carried at fair value but require fair value disclosure as of December 31, 2022: As of December 31, 2022 (In thousands) Face Value Carrying Value Fair Value 1.375% Convertible Senior Notes due 2023 (the “2023 Notes”) $ 10,381 $ 10,378 $ 19,625 The fair value of the convertible notes at each balance sheet date was determined based on recent quoted market prices for these notes which is a Level 2 measurement. As discussed in Note 9, “Convertible Notes,” , the Company settled the remaining $10.4 million aggregate principal amount of the 2023 Notes during the first quarter of 2023. As of December 31, 2022, the 2023 Notes were carried at their face value of $10.4 million, less any unamortized debt issuance costs. The carrying value of other financial instruments, including accounts receivable, accounts payable and other liabilities, approximated fair value due to their short maturities.

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2023
Leases [Abstract]
Leases	LeasesThe Company leases office space, domestically and internationally, under operating leases. The Company’s leases have remaining lease terms generally between one year and seven years. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities and long-term operating lease liabilities on the Company’s unaudited condensed consolidated balance sheets. The Company does not have any finance leases. The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet as of June 30, 2023 (in thousands): Years ending December 31, Amount 2023 (remaining six months) $ 2,896 2024 5,293 2025 5,361 2026 5,589 2027 4,751 Thereafter 13,000 Total minimum lease payments 36,890 Less: amount of lease payments representing interest (5,632) Present value of future minimum lease payments 31,258 Less: current obligations under leases (4,098) Long-term lease obligations $ 27,160 As of June 30, 2023, the weighted-average remaining lease term for the Company’s operating leases was 6.8 years and the weighted-average discount rate used to determine the present value of the Company’s operating leases was 5.4%. Operating lease costs included in research and development and selling, general and administrative costs on the unaudited condensed consolidated statements of operations were $1.5 million and $1.9 million for the three months ended June 30, 2023 and 2022, respectively. Operating lease costs included in research and development and selling, general and administrative costs on the unaudited condensed consolidated statements of operations were $3.4 million and $3.8 million for the six months ended June 30, 2023 and 2022, respectively. Cash paid for amounts included in the measurement of operating lease liabilities were $3.7 million and $4.5 million for the six months ended June 30, 2023 and 2022, respectively.

Convertible Notes

Convertible Notes	6 Months Ended
Convertible Notes	Jun. 30, 2023
Debt Disclosure [Abstract]
Convertible Notes	Convertible Notes The Company’s convertible notes are shown in the following table: As of (In thousands) June 30, 2023 December 31, 2022 2023 Notes $ — $ 10,381 Unamortized debt issuance costs — 2023 Notes — (3) Total convertible notes — 10,378 Less current portion — 10,378 Total long-term convertible notes $ — $ — During the first quarter of 2023, the holders of the remaining $10.4 million aggregate principal amount of the 2023 Notes elected to convert the notes pursuant to the original terms of the conversion feature. Accordingly, upon maturity, the Company paid $10.4 million in cash to settle the aggregate principal amount of the 2023 Notes and delivered approximately 0.3 million shares of the Company's common stock to settle the conversion spread. In connection with the settlement of the conversion of the remaining 2023 Notes, the Company received 0.3 million shares of the Company’s common stock for the retirement of the remaining convertible senior note hedges and paid $10.7 million in cash for the retirement of the remaining warrants during the first quarter of 2023. Additionally, the retirement of the remaining warrants was subject to derivative accounting, resulting in a loss on fair value adjustment of derivatives of $0.2 million for the six months ended June 30, 2023. Interest expense related to the convertible notes for the three and six months ended June 30, 2023 and 2022 was as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2023 2022 2023 2022 2023 Notes coupon interest at a rate of 1.375% $ — $ 169 $ 12 $ 485 2023 Notes amortization of debt issuance cost — 46 3 151 Total interest expense on convertible notes $ — $ 215 $ 15 $ 636

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of June 30, 2023, the Company’s material contractual obligations were as follows: (In thousands) Total Remainder of 2023 2024 2025 2026 2027 Contractual obligations (1) (2) (3) Software licenses (4) $ 33,252 $ 8,718 $ 16,452 $ 8,082 $ — $ — Other contractual obligations 3,489 2,889 600 — — — Acquisition retention bonuses (5) 3,449 1,389 1,724 336 — — Total $ 40,190 $ 12,996 $ 18,776 $ 8,418 $ — $ — _________________________________________ (1) The above table does not reflect possible payments in connection with unrecognized tax benefits of approximately $21.5 million, including $20.1 million recorded as a reduction of long-term deferred tax assets and $1.4 million in long-term income taxes payable as of June 30, 2023. As noted below in Note 13, “Income Taxes,” although it is possible that some of the unrecognized tax benefits could be settled within the next 12 months, the Company cannot reasonably estimate the outcome at this time. (2) For the Company’s lease commitments as of June 30, 2023, refer to Note 8, “Leases.” (3) During the first quarter of 2023, the Company paid upon maturity the remaining $10.4 million in aggregate principal amount of the 2023 Notes. Refer to Note 9, “Convertible Notes,” for additional information. (4) The Company has commitments with various software vendors for agreements generally having terms longer than one year. As of June 30, 2023, approximately $16.0 million of the fair value of the software licenses was included in other current liabilities and $14.2 million was included in other long-term liabilities, in the accompanying unaudited condensed consolidated balance sheet. (5) In connection with the acquisition of Hardent in the second quarter of 2022 and the acquisitions of AnalogX and PLDA in the third quarter of 2021, the Company is obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment. Indemnifications From time to time, the Company indemnifies certain customers as a necessary means of doing business. Indemnification covers customers for losses suffered or incurred by them as a result of any patent, copyright, or other intellectual property (“IP”) infringement or any other claim by any third party arising as a result of the applicable agreement with the Company. The Company generally attempts to limit the maximum amount of indemnification that the Company could be required to make under these agreements to the amount of fees received by the Company, however, this may not always be possible. The fair value of the liability as of June 30, 2023 and December 31, 2022, respectively, was not material.

Equity Incentive Plans and Stoc

Equity Incentive Plans and Stock-Based Compensation	6 Months Ended
Equity Incentive Plans and Stock-Based Compensation	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans and Stock-Based Compensation	Equity Incentive Plans and Stock-Based Compensation A summary of shares available for grant under the Company’s plans is as follows: Shares Available for Grant Total shares available for grant as of December 31, 2022 7,655,769 Increase in shares approved for issuance (1) 5,210,000 Nonvested equity stock and stock units granted (2) (3) (1,987,388) Nonvested equity stock and stock units forfeited (2) 529,072 Total shares available for grant as of June 30, 2023 11,407,453 _________________________________________ (1) On April 27, 2023, the Company’s stockholders approved these additional shares to be reserved for issuance under the 2015 Equity Incentive Plan (the “2015 Plan”). (2) For purposes of determining the number of shares available for grant under the 2015 Plan against the maximum number of shares authorized, each restricted stock unit granted prior to April 27, 2023 reduces the number of shares available for grant by 1.5 shares and each restricted stock unit forfeited increases shares available for grant by 1.5 shares. Each restricted stock unit granted on or after April 27, 2023 reduces the number of shares available for grant by 1.0 shares and each restricted stock unit forfeited increases shares available for grant by 1.0 shares. (3) Amount includes approximately 0.2 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in the first quarter of 2023 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below. General Stock Option Information The following table summarizes stock option activity under the Company’s equity incentive plans for the six months ended June 30, 2023 and information regarding stock options outstanding, exercisable, and vested and expected to vest as of June 30, 2023. Options Outstanding (In thousands, except shares, per share amounts and years) Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding as of December 31, 2022 432,443 $ 11.60 Options exercised (155,205) $ 11.04 $ 8,247 Outstanding as of June 30, 2023 277,238 $ 11.92 3.60 $ 14,485 Vested or expected to vest at June 30, 2023 277,234 $ 11.92 3.60 $ 14,485 Options exercisable at June 30, 2023 270,571 $ 11.88 3.54 $ 14,147 Employee Stock Purchase Plan Under the 2015 Employee Stock Purchase Plan (“2015 ESPP”), the Company issued 120,569 shares at a price of $27.91 per share and 161,254 shares at a price of $19.97 per share during the six months ended June 30, 2023 and 2022 , respectively. As of June 30, 2023, approximately 2.4 million shares under the 2015 ESPP remained available for issuance. Stock-Based Compensation For the six months ended June 30, 2023 and 2022, the Company maintained stock plans covering a broad range of potential equity grants including stock options, nonvested equity stock and equity stock units and performance-based instruments. In addition, the Company sponsors the 2015 ESPP, whereby eligible employees are entitled to purchase common stock semi-annually, by means of limited payroll deductions, at a 15% discount from the fair market value of the common stock as of specific dates. Stock Options There were no stock options granted during the six months ended June 30, 2023 and 2022, respectively. Stock-based compensation expense related to stock options was immaterial for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023, there was $0.1 million of total unrecognized compensation cost, net of expected forfeitures, related to non-vested stock-based compensation arrangements granted under the stock option plans. That cost is expected to be recognized over a weighted-average period of 0.3 years. Employee Stock Purchase Plan For the three and six months ended June 30, 2023, the Company recorded stock-based compensation expense related to the 2015 ESPP of $0.4 million and $1.0 million, respectively. For the three and six months ended June 30, 2022, the Company recorded stock-based compensation expense related to the 2015 ESPP of $0.4 million and $0.8 million, respectively. As of June 30, 2023, there was $0.6 million of total unrecognized compensation cost related to stock-based compensation arrangements granted under the 2015 ESPP. That cost is expected to be recognized over four months. Nonvested Equity Stock and Stock Units The Company grants nonvested equity stock units to officers, employees and directors. During the three and six months ended June 30, 2023, the Company granted nonvested equity stock units totaling approximately 0.1 million and 1.2 million shares, respectively. During the three and six months ended June 30, 2022, the Company granted nonvested equity stock units totaling approximately 0.1 million and 1.7 million shares, respectively. These awards have a service condition, generally a service period of four years, except in the case of grants to directors, for which the service period is one year. For the three and six months ended June 30, 2023, the nonvested equity stock units were valued at the date of grant giving them a fair value of approximately $2.5 million and $55.2 million, respectively. For the three and six months ended June 30, 2022, the nonvested equity stock units were valued at the date of grant giving them a fair value of approximately $4.3 million and $48.9 million, respectively. During the first quarters of 2023 and 2022, the Company granted performance unit awards to certain Company executive officers with vesting subject to the achievement of certain performance and/or market conditions. The ultimate number of performance units that can be earned can range from 0% to 200% of target depending on performance relative to target over the applicable period. The shares earned will vest on the third or fourth anniversary of the date of gran t. The Company’s shares available for grant have been reduced to reflect the shares that could be earned at the maximum target. For the three and six months ended June 30, 2023, the Company recorded stock-based compensation expense of approximately $10.9 million and $23.4 million, respectively, primarily related to all outstanding nonvested equity stock grants. For the three and six months ended June 30, 2022, the Company recorded stock-based compensation expense of approximately $8.2 million and $15.5 million, respectively, related to all outstanding nonvested equity stock grants. Unrecognized stock-based compensation related to all nonvested equity stock grants, net of estimated forfeitures, was approximately $86.9 million at June 30, 2023. This amount is expected to be recognized over a weighted-average period of 2.3 years. The following table reflects the activity related to nonvested equity stock and stock units for the six months ended June 30, 2023: Nonvested Equity Stock and Stock Units Shares Weighted- Average Grant-Date Fair Value Nonvested at December 31, 2022 4,718,060 $ 22.78 Granted 1,174,026 $ 46.01 Vested (1,516,751) $ 24.29 Forfeited (328,194) $ 26.62 Nonvested at June 30, 2023 4,047,141 $ 31.32

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchase Programs On October 29, 2020, the Company’s board of directors (the “Board”) approved a share repurchase program authorizing the repurchase of up to an aggregate of 20.0 million shares (the “2020 Repurchase Program”). Share repurchases under the 2020 Repurchase Program may be made through the open market, established plans or privately negotiated transactions in accordance with all applicable securities laws, rules and regulations. There is no expiration date applicable to the 2020 Repurchase Program. During the six months ended June 30, 2023, the Company did not repurchase any shares of its common stock under the 2020 Repurchase Program. On September 9, 2022, the Company entered into an accelerated share repurchase program with Wells Fargo Bank, National Association (“Wells Fargo”) (the “2022 ASR Program”). The 2022 ASR Program was part of the share repurchase program previously authorized by the Board on October 29, 2020. Under the 2022 ASR Program, the Company pre-paid to Wells Fargo the $100.0 million purchase price for its common stock and, in turn, the Company received an initial delivery of approximately 3.1 million shares of its common stock from Wells Fargo in the third quarter of 2022, which were retired and recorded as an $80.0 million reduction to stockholders’ equity. The remaining $20.0 million of the initial payment was recorded as a reduction to stockholders’ equity as an unsettled forward contract indexed to the Company’s stock. During the fourth quarter of 2022, the 2022 ASR Program was completed and the Company received an additional 0.1 million shares of its common stock, which were retired, as the final settlement of the 2022 ASR Program. As of June 30, 2023, there remained an outstanding authorization to repurchase approximately 9.7 million shares of the Company’s outstanding common stock under the 2020 Repurchase Program. The Company records share repurchases as a reduction to stockholders’ equity. The Company records a portion of the purchase price of the repurchased shares as an increase to accumulated deficit when the price of the shares repurchased exceeds the average original proceeds per share received from the issuance of common stock in accordance with its accounting policy.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded a provision for (benefit from) income taxes of $(155.3) million and $2.9 million for the three months ended June 30, 2023 and 2022, respectively, and a provision for (benefit from) income taxes of $(155.1) million and $3.4 million for the six months ended June 30, 2023 and 2022, respectively. The benefit from income taxes for the three and six months ended June 30, 2023 was primarily driven by the valuation allowance release on U.S. deferred tax assets, as well as tax benefits from excess stock-based compensation deductions. The provision for income taxes for the three and six months ended June 30, 2022 was driven by a combination of the valuation allowance recorded on U.S. deferred tax assets, foreign withholding taxes, the statutory tax expense for the foreign jurisdictions for 2022 and indefinite-lived intangible tax amortization expense. During the three months ended June 30, 2023 and 2022, the Company paid withholding taxes of $5.0 million and $5.4 million, respectively. During the six months ended June 30, 2023 and 2022, the Company paid withholding taxes of $10.4 million and $10.3 million, respectively. The Company periodically evaluates the realizability of its net deferred tax assets based on all available evidence, both positive and negative. The realizability of the Company’s net deferred tax assets is dependent on its ability to generate sufficient future taxable income during periods prior to the expiration of tax attributes to fully utilize these assets. During the second quarter of 2023, based on all available positive and negative evidence, the Company determined that it was appropriate to release the valuation allowance on the majority of the Company’s U.S. federal and other state deferred tax assets. The Company recognized a $149.4 million discrete tax benefit during the three and six months ended June 30, 2023 as a result of the valuation allowance release. During the second quarter of 2023, the Company reached a cumulative income position over the previous three years. The cumulative three-year income is considered positive evidence, which is considered objective and verifiable, and thus received significant weighting. Additional positive evidence considered by the Company in its assessment included recent utilization of tax attribute carryforwards and future forecasts of continued profitability in the United States. Negative evidence the Company considered included economic uncertainties, including volatility of the industry, and the possibility of a recession or a decline in the market. Upon considering the relative impact of all evidence during the second quarter of 2023, both negative and positive, and the weight accorded to each, the Company concluded that it was more likely than not that the majority of its deferred tax assets would be realizable, with the exception of primarily its California research and development credits and certain expiring federal tax credits that have not met the “more likely than not” realization threshold criteria. As a result, the Company released the related valuation allowance against the majority of its federal and state deferred tax assets. The effect of the valuation allowance release is included as a component of the benefit from income taxes in the accompanying unaudited condensed consolidated statement of operations. The Company has U.S. federal deferred tax assets related to research and development credits, foreign tax credits and other tax attributes that can be used to offset U.S. federal taxable income in future periods. These credit carryforwards will expire if they are not used within certain time periods. It is possible that some or all of these attributes could ultimately expire unused. The Company maintains liabilities for uncertain tax positions within its long-term income taxes payable accounts and as a reduction to existing deferred tax assets to the extent tax attributes are available to offset such liabilities. These liabilities involve judgment and estimation and are monitored by management based on the best information available including changes in tax regulations, the outcome of relevant court cases and other information. As of June 30, 2023, the Company had approximately $174.7 million of unrecognized tax benefits, including $20.1 million recorded as a reduction of long-term deferred tax assets, $153.2 million recorded as a reduction of other assets associated with refundable withholding taxes previously withheld from licensees in South Korea and $1.4 million recorded in long-term income taxes payable. If the Company would have recovered such benefit, which is currently estimated at $154.6 million, this benefit would have likely been reduced due to amending the Company’s U.S. Federal tax returns as a result of such recovery, offsetting most or all of the potential recovery. As a result of recent court rulings in South Korea, the Company has determined that it may be entitled to refund claims for foreign taxes previously withheld by licensees in South Korea. The Company recognizes that there are numerous risks and uncertainties associated with the ultimate collection of this refund and has therefore maintained an offsetting reserve for the entire amount of refundable withholding taxes previously withheld in South Korea. As of December 31, 2022, the Company had $164.5 million of unrecognized tax benefits, including $19.6 million recorded as a reduction of long-term deferred tax assets, $143.6 million recorded as a reduction of other assets associated with refundable withholding taxes previously withheld by licensees in South Korea and $1.3 million recorded in long-term income taxes payable. Although it is possible that some of the unrecognized tax benefits could be settled within the next 12 months, the Company cannot reasonably estimate the outcome at this time. Additionally, the Company’s future effective tax rates could be adversely affected by earnings being higher than anticipated in countries where the Company has higher statutory rates or lower than anticipated in countries where it has lower statutory rates, by changes in valuation of its deferred tax assets and liabilities or by changes in tax laws or interpretations of those laws.

Litigation and Asserted Claims

Litigation and Asserted Claims	6 Months Ended
Litigation and Asserted Claims	Jun. 30, 2023
Loss Contingency, Information about Litigation Matters [Abstract]
Litigation and Asserted Claims	Litigation and Asserted Claims Rambus is not currently a party to any material pending legal proceeding; however, from time to time, Rambus may become involved in legal proceedings or be subject to claims arising in the ordinary course of its business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters will not have a material adverse effect on its business, operating results, financial position or cash flows. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management attention and resources and other factors. The Company records a contingent liability when it is probable that a loss has been incurred and the amount is reasonably estimable in accordance with accounting for contingencies.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
Derivative Instruments and Hedging Activities	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities In the first quarter of 2023, the Company began using foreign currency forward contracts (the “Contracts”) to manage the Company’s exposure related to certain foreign currency denominated monetary assets (the “Hedging Program”) and to minimize the related impact of foreign currency fluctuations on the Company’s earnings. The hedged monetary assets primarily consist of certain euro-denominated cash and accounts receivable balances. The Contracts mitigate the Company’s foreign currency exposure when the Contracts are settled at their maturity by generally offsetting the gains and losses generated by the re-measurement of the underlying monetary assets. The Contracts are entered into at the end of each month and have a duration of approximately one month at inception. Due to the short duration of these Contracts, their fair value is deemed immaterial. As the Contracts are considered derivative instruments that are not designated and do not qualify as hedging instruments, any gains and losses resulting from changes in their fair value are recorded to interest income and other income (expense), net on the Company’s unaudited condensed consolidated statements of operations. The Company does not use its Hedging Program for speculative or trading purposes. The Contract outstanding as of June 30, 2023 was entered into by the Company on the last business day of the period. Given the relatively short duration such contracts are outstanding in relation to changes in potential market rates, the change in the fair value was deemed immaterial. As of June 30, 2023, the total local currency amount of the outstanding Contract was €10.0 million, and its total notional value was $11.0 million. For the three and six months ended June 30, 2023, any gains and losses resulting from changes in fair value of the Company’s Contracts were deemed immaterial.

Restructuring and Related Activ

Restructuring and Related Activities	6 Months Ended
Restructuring and Related Activities	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges 2023 Restructuring Plan In June 2023, the Company initiated a restructuring program to reduce overall expenses, which is expected to improve future profitability by reducing the Company’s overall spending (the “2023 Restructuring Plan”). In connection with this restructuring program, the Company initiated a plan resulting in a reduction of 42 employees. During the three and six months ended June 30, 2023, the Company recorded charges of approximately $9.5 million to “Restructuring and other charges” in its unaudited condensed consolidated statement of operations, related to the reduction in workforce, as well as write-downs of obligations related to certain IP development costs and software licenses for engineering development tools. The 2023 Restructuring Plan is expected to be substantially completed in the second half of 2023. The following table summarizes the 2023 Plan restructuring activities during the six months ended June 30, 2023: (In thousands) Employee Other Costs Total Liability at December 31, 2022 $ — $ — $ — Charges 4,746 4,748 9,494 Non-cash items* — (948) (948) Payments — (500) (500) Liability at June 30, 2023 $ 4,746 $ 3,300 $ 8,046 _________________________________________ * The non-cash items of $0.9 million related to the write-down of software licenses for engineering development tools. During the six months ended June 30, 2022, the Company did not initiate any restructuring programs.

Acquisition

Acquisition	6 Months Ended
Acquisition	Jun. 30, 2023
Business Combinations [Abstract]
Acquisition	Acquisition There were no acquisitions during the six months ended June 30, 2023. 2022 Acquisition Hardent, Inc. On May 20, 2022, (the “Closing Date”), the Company completed its acquisition of Hardent, a leading electronic design company, by acquiring all of its outstanding shares. The Company acquired Hardent for a total consideration of approximately $16.1 million, which consisted of $14.7 million in initial cash consideration paid at the Closing Date, $1.2 million deposited into an escrow account to fund indemnification obligations to be released within 18 months after the Closing Date, and $0.2 million deposited into an escrow account to fund other contractual provisions related to certain working capital adjustments. The addition of the technology and expertise from Hardent augments the Company’s CXL memory interconnect initiative. As part of the acquisition, the Company agreed to pay certain Hardent employees approximately $1.2 million in cash over three years following the Closing Date (the “Retention Bonus”), to be paid in three equal installments on each of the dates that are 12 months, 24 months and 36 months following the Closing Date. The Retention Bonus payouts are subject to the condition of continued employment. Therefore, the Retention Bonus payouts will be treated as compensation and will be expensed ratably over the retention period. The fair value of the intangible assets acquired was determined by management primarily by using the multi-period excess earnings method under the income approach. This method reflects the present value of the projected cash flows that are expected to be generated by the existing technologies less charges representing the contribution of other assets to those cash flows. The fair values of the remaining assets acquired and liabilities assumed approximated their carrying values at the Closing Date. The Company performed a valuation of the net assets acquired as of the Closing Date. The total consideration from the acquisition was allocated as of the Closing Date, and reflects adjustments made during the measurement period, as follows: (In thousands) Total Cash and cash equivalents $ 209 Accounts receivable 1,088 Unbilled receivables 239 Prepaid expenses and other current assets 16 Identified intangible assets 5,000 Goodwill 12,069 Accounts payable (55) Deferred revenue (578) Income taxes payable (466) Deferred tax liability (1,325) Other current liabilities (56) Total $ 16,141 The goodwill arising from the acquisition is primarily attributed to synergies related to the combination of new and complementary technologies of the Company and the assembled workforce of the acquired business. This goodwill is not deductible for tax purposes. The identified intangible assets assumed in the acquisition of Hardent were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 4,800 5 years Customer contracts and contractual relationships 200 2 years Total $ 5,000 Unaudited Pro Forma Combined Consolidated Financial Information The following pro forma financial information presents the combined results of operations for the Company and Hardent as if the acquisition had occurred on January 1, 2021. The pro forma financial information has been prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the acquisition actually taken place on January 1, 2021, and should not be taken as indicative of future consolidated operating results. Additionally, the pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisition: Three Months Ended Six Months Ended (In thousands) June 30, 2022 June 30, 2022 Total revenue $ 122,136 $ 223,241 Net income (loss) $ 34,571 $ (30,398) The pro forma net income for 2022 was adjusted to exclude $0.9 million of acquisition-related costs incurred in 2022. Consequently, the pro forma net income for 2021 was adjusted to include these costs.

Subsequent Event

Subsequent Event	6 Months Ended
Subsequent Event	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn July 19, 2023, the Company entered into an asset purchase agreement (the “Purchase Agreement”) with Cadence Design Systems, Inc. (the “Purchaser”), pursuant to which the Company agreed to sell certain assets and the Purchaser agreed to assume certain liabilities from the Company, in each case with respect to the Company’s PHY IP business, for $110 million in cash, subject to certain adjustments and certain closing conditions (the “Transaction”). The Transaction is expected to close during the third quarter of 2023, assuming the satisfaction or waiver of the closing conditions set forth in the Purchase Agreement.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 168,880	$ 35,020	$ 172,161	$ (31,198)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract balances	The Company’s contract balances were as follows: As of (In thousands) June 30, 2023 December 31, 2022 Unbilled receivables $ 97,851 $ 150,920 Deferred revenue 18,217 25,421

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
Earnings (Loss) Per Share (Tables)	Jun. 30, 2023
Earnings Per Share [Abstract]
Computation of basic and diluted net income (loss) per share	The following table sets forth the computation of basic and diluted net income (loss) per share: Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2023 2022 2023 2022 Net income (loss) per share: Numerator: Net income (loss) $ 168,880 $ 35,020 $ 172,161 $ (31,198) Denominator: Weighted-average shares outstanding - basic 109,039 110,447 108,561 110,170 Effect of potentially dilutive common shares 2,562 2,268 2,812 — Weighted-average shares outstanding - diluted 111,601 112,715 111,373 110,170 Basic net income (loss) per share $ 1.55 $ 0.32 $ 1.59 $ (0.28) Diluted net income (loss) per share $ 1.51 $ 0.31 $ 1.55 $ (0.28)
Schedule of antidilutive securities excluded from computation of earnings per share	During the six months ended June 30, 2022, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to the Company’s common stockholders because the impact of including them would have been anti-dilutive (in thousands): Six Months Ended June 30, (In thousands) 2022 Stock options 286 Restricted stock units 1,990 Potentially issuable shares related to the in-the-money conversion feature of convertible notes 724 Contingently issuable ESPP shares 19 Total 3,019

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
Intangible Assets and Goodwill (Tables)	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in carrying amount of goodwill	The following tables present goodwill information for the six months ended June 30, 2023: (In thousands) As of December 31, 2022 Adjustments to Goodwill As of June 30, 2023 Total goodwill $ 292,040 $ — $ 292,040 As of June 30, 2023 (In thousands) Gross Carrying Amount Accumulated Impairment Losses Net Carrying Amount Total goodwill $ 313,810 $ (21,770) $ 292,040
Components of intangible assets	The components of the Company’s intangible assets as of June 30, 2023 and December 31, 2022 were as follows: As of June 30, 2023 (In thousands) Useful Life Gross Carrying Amount (1) Accumulated Amortization (1) Net Carrying Amount Existing technology 3 to 10 years $ 299,895 $ (268,885) $ 31,010 Customer contracts and contractual relationships 0.5 to 10 years 37,996 (37,214) 782 Trademarks 3 years 300 (300) — In-process research and development (“IPR&D”) Not applicable 11,200 — 11,200 Total intangible assets $ 349,391 $ (306,399) $ 42,992 _________________________________________ (1) During the second quarter of 2023, the Company retired an immaterial intangible asset that was fully amortized. As of December 31, 2022 (In thousands) Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Existing technology 3 to 10 years $ 299,925 $ (261,708) $ 38,217 Customer contracts and contractual relationships 0.5 to 10 years 37,996 (36,533) 1,463 Trademarks 3 years 300 (300) — IPR&D Not applicable 11,200 — 11,200 Total intangible assets $ 349,421 $ (298,541) $ 50,880
Estimated future amortization of intangible assets	The estimated future amortization of intangible assets as of June 30, 2023 was as follows (in thousands): Years Ending December 31: Amount 2023 (remaining six months) $ 7,533 2024 12,726 2025 6,687 2026 4,368 2027 478 Thereafter — Total amortizable purchased intangible assets 31,792 IPR&D 11,200 Total intangible assets $ 42,992

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2023
Concentration risk
Revenue from external customer by geographic regions	Revenue from customers in the geographic regions based on the location of contracting parties was as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2023 2022 2023 2022 USA $ 35,429 $ 67,285 $ 99,068 $ 122,969 South Korea 48,613 2,572 62,757 4,037 Singapore 14,718 25,719 26,046 39,764 Taiwan 4,279 10,499 10,788 15,459 China 3,399 7,600 7,654 15,805 Other 13,394 7,457 27,281 22,148 Total $ 119,832 $ 121,132 $ 233,594 $ 220,182
Accounts receivable
Concentration risk
Schedule of customer accounts representing 10% or more than 10% of total balance	Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable at June 30, 2023 and December 31, 2022, respectively, was as follows: As of Customer June 30, 2023 December 31, 2022 Customer 1 64 % * Customer 2 * 23 % Customer 3 * 16 % Customer 4 * 14 % _________________________________________ * Customer accounted for less than 10% of total accounts receivable in the period.
Revenue
Concentration risk
Schedule of customer accounts representing 10% or more than 10% of total balance	Revenue from the Company’s major customers representing 10% or more of total revenue for the three and six months ended June 30, 2023 and 2022, respectively, was as follows: Three Months Ended Six Months Ended June 30, June 30, Customer 2023 2022 2023 2022 Customer A 38 % * 25 % * Customer B 12 % 19 % 15 % 21 % Customer C * 17 % * 13 % Customer D * 13 % * 13 % __________________________________________ * Customer accounted for less than 10% of total revenue in the period.

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
Marketable Securities (Tables)	Jun. 30, 2023
Debt Securities, Available-for-Sale [Abstract]
Cash equivalents and marketable securities classified as available-for-sale	Total cash, cash equivalents and marketable securities are summarized as follows: As of June 30, 2023 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 85,826 $ 85,826 $ — $ — Cash equivalents: Money market funds 23,438 23,438 — — U.S. Government bonds and notes 6,957 6,956 1 — Corporate notes, bonds and commercial paper 5,969 5,969 — — Total cash equivalents 36,364 36,363 1 — Total cash and cash equivalents 122,190 122,189 1 — Marketable securities: Time deposits 4,951 4,951 — — U.S. Government bonds and notes 89,592 90,546 — (954) Corporate notes, bonds and commercial paper 115,894 116,953 1 (1,060) Total marketable securities 210,437 212,450 1 (2,014) Total cash, cash equivalents and marketable securities $ 332,627 $ 334,639 $ 2 $ (2,014) As of December 31, 2022 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 94,737 $ 94,737 $ — $ — Cash equivalents: Money market funds 15,763 15,763 — — Corporate notes, bonds and commercial paper 14,834 14,838 — (4) Total cash equivalents 30,597 30,601 — (4) Total cash and cash equivalents 125,334 125,338 — (4) Marketable securities: U.S. Government bonds and notes 96,371 98,250 1 (1,880) Corporate notes, bonds and commercial paper 91,521 93,254 7 (1,740) Total marketable securities 187,892 191,504 8 (3,620) Total cash, cash equivalents and marketable securities $ 313,226 $ 316,842 $ 8 $ (3,624)
Available-for-sale securities reported at fair value	Available-for-sale securities are reported at fair value on the balance sheets and classified along with cash as follows: As of (In thousands) June 30, 2023 December 31, 2022 Cash $ 85,826 $ 94,737 Cash equivalents 36,364 30,597 Total cash and cash equivalents 122,190 125,334 Marketable securities 210,437 187,892 Total cash, cash equivalents and marketable securities $ 332,627 $ 313,226
Estimated fair value of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position	The estimated fair value and gross unrealized losses of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position at June 30, 2023 and December 31, 2022 are as follows: Fair Value Gross Unrealized Losses (In thousands) June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Less than 12 months U.S. Government bonds and notes $ 43,962 $ 28,893 $ (174) $ (23) Corporate notes, bonds and commercial paper 87,800 45,538 (226) (35) Total cash equivalents and marketable securities in a continuous unrealized loss position for less than 12 months 131,762 74,431 (400) (58) 12 months or greater U.S. Government bonds and notes 45,631 62,588 (780) (1,857) Corporate notes, bonds and commercial paper 24,969 49,559 (834) (1,709) Total cash equivalents and marketable securities in a continuous unrealized loss position for 12 months or greater 70,600 112,147 (1,614) (3,566) Total cash equivalents and marketable securities in a continuous unrealized loss position $ 202,362 $ 186,578 $ (2,014) $ (3,624)
Contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities	The contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities are summarized as follows: (In thousands) June 30, 2023 Due less than one year $ 207,899 Due from one year through three years 15,464 Total $ 223,363

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
Fair Value of Financial Instruments (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of the valuation of cash equivalents and marketable securities by pricing levels	The following table presents the financial instruments and liabilities that are carried at fair value and summarizes their valuation by the respective pricing levels as of June 30, 2023 and December 31, 2022: As of June 30, 2023 (In thousands) Total Quoted Market Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets carried at fair value Money market funds $ 23,438 $ 23,438 $ — $ — Time deposits 4,951 — 4,951 — U.S. Government bonds and notes 96,549 — 96,549 — Corporate notes, bonds and commercial paper 121,863 — 121,863 — Total assets carried at fair value $ 246,801 $ 23,438 $ 223,363 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 28,600 $ — $ — $ 28,600 Total liabilities carried at fair value $ 28,600 $ — $ — $ 28,600 As of December 31, 2022 (In thousands) Total Quoted Market Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets carried at fair value Money market funds $ 15,763 $ 15,763 $ — $ — U.S. Government bonds and notes 96,371 — 96,371 — Corporate notes, bonds and commercial paper 106,355 — 106,355 — Total available-for-sale securities $ 218,489 $ 15,763 $ 202,726 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 14,800 $ — $ — $ 14,800 Total liabilities carried at fair value $ 14,800 $ — $ — $ 14,800
Fair value, liabilities measured on recurring basis, unobservable input reconciliation	The following table presents additional information about liabilities measured at fair value for which the Company utilizes Level 3 inputs to determine fair value, as of June 30, 2023 and 2022. Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2023 2022 2023 2022 Balance as of beginning of period $ 21,700 $ 18,100 $ 14,800 $ 16,900 Change in fair value of earn-out liability due to remeasurement 6,900 (5,500) 13,800 (4,300) Balance as of end of period $ 28,600 $ 12,600 $ 28,600 $ 12,600
Financial instruments not carried at fair value but requiring fair value disclosure	The following table presents the financial instruments that are not carried at fair value but require fair value disclosure as of December 31, 2022: As of December 31, 2022 (In thousands) Face Value Carrying Value Fair Value 1.375% Convertible Senior Notes due 2023 (the “2023 Notes”) $ 10,381 $ 10,378 $ 19,625

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2023
Leases [Abstract]
Lessee, operating lease liability, maturities and undiscounted cash flows	The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet as of June 30, 2023 (in thousands): Years ending December 31, Amount 2023 (remaining six months) $ 2,896 2024 5,293 2025 5,361 2026 5,589 2027 4,751 Thereafter 13,000 Total minimum lease payments 36,890 Less: amount of lease payments representing interest (5,632) Present value of future minimum lease payments 31,258 Less: current obligations under leases (4,098) Long-term lease obligations $ 27,160

Convertible Notes (Tables)

Convertible Notes (Tables)	6 Months Ended
Convertible Notes (Tables)	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of convertible notes	The Company’s convertible notes are shown in the following table: As of (In thousands) June 30, 2023 December 31, 2022 2023 Notes $ — $ 10,381 Unamortized debt issuance costs — 2023 Notes — (3) Total convertible notes — 10,378 Less current portion — 10,378 Total long-term convertible notes $ — $ —
Schedule of interest expense on notes	Interest expense related to the convertible notes for the three and six months ended June 30, 2023 and 2022 was as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2023 2022 2023 2022 2023 Notes coupon interest at a rate of 1.375% $ — $ 169 $ 12 $ 485 2023 Notes amortization of debt issuance cost — 46 3 151 Total interest expense on convertible notes $ — $ 215 $ 15 $ 636

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of material contractual obligations	As of June 30, 2023, the Company’s material contractual obligations were as follows: (In thousands) Total Remainder of 2023 2024 2025 2026 2027 Contractual obligations (1) (2) (3) Software licenses (4) $ 33,252 $ 8,718 $ 16,452 $ 8,082 $ — $ — Other contractual obligations 3,489 2,889 600 — — — Acquisition retention bonuses (5) 3,449 1,389 1,724 336 — — Total $ 40,190 $ 12,996 $ 18,776 $ 8,418 $ — $ — _________________________________________ (1) The above table does not reflect possible payments in connection with unrecognized tax benefits of approximately $21.5 million, including $20.1 million recorded as a reduction of long-term deferred tax assets and $1.4 million in long-term income taxes payable as of June 30, 2023. As noted below in Note 13, “Income Taxes,” although it is possible that some of the unrecognized tax benefits could be settled within the next 12 months, the Company cannot reasonably estimate the outcome at this time. (2) For the Company’s lease commitments as of June 30, 2023, refer to Note 8, “Leases.” (3) During the first quarter of 2023, the Company paid upon maturity the remaining $10.4 million in aggregate principal amount of the 2023 Notes. Refer to Note 9, “Convertible Notes,” for additional information. (4) The Company has commitments with various software vendors for agreements generally having terms longer than one year. As of June 30, 2023, approximately $16.0 million of the fair value of the software licenses was included in other current liabilities and $14.2 million was included in other long-term liabilities, in the accompanying unaudited condensed consolidated balance sheet. (5) In connection with the acquisition of Hardent in the second quarter of 2022 and the acquisitions of AnalogX and PLDA in the third quarter of 2021, the Company is obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment.

Equity Incentive Plans and St_2

Equity Incentive Plans and Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of shares available for grant	A summary of shares available for grant under the Company’s plans is as follows: Shares Available for Grant Total shares available for grant as of December 31, 2022 7,655,769 Increase in shares approved for issuance (1) 5,210,000 Nonvested equity stock and stock units granted (2) (3) (1,987,388) Nonvested equity stock and stock units forfeited (2) 529,072 Total shares available for grant as of June 30, 2023 11,407,453 _________________________________________ (1) On April 27, 2023, the Company’s stockholders approved these additional shares to be reserved for issuance under the 2015 Equity Incentive Plan (the “2015 Plan”). (2) For purposes of determining the number of shares available for grant under the 2015 Plan against the maximum number of shares authorized, each restricted stock unit granted prior to April 27, 2023 reduces the number of shares available for grant by 1.5 shares and each restricted stock unit forfeited increases shares available for grant by 1.5 shares. Each restricted stock unit granted on or after April 27, 2023 reduces the number of shares available for grant by 1.0 shares and each restricted stock unit forfeited increases shares available for grant by 1.0 shares. (3) Amount includes approximately 0.2 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in the first quarter of 2023 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below.
Schedule of stock option activity	The following table summarizes stock option activity under the Company’s equity incentive plans for the six months ended June 30, 2023 and information regarding stock options outstanding, exercisable, and vested and expected to vest as of June 30, 2023. Options Outstanding (In thousands, except shares, per share amounts and years) Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding as of December 31, 2022 432,443 $ 11.60 Options exercised (155,205) $ 11.04 $ 8,247 Outstanding as of June 30, 2023 277,238 $ 11.92 3.60 $ 14,485 Vested or expected to vest at June 30, 2023 277,234 $ 11.92 3.60 $ 14,485 Options exercisable at June 30, 2023 270,571 $ 11.88 3.54 $ 14,147
Schedule of nonvested equity stock and stock units activity	The following table reflects the activity related to nonvested equity stock and stock units for the six months ended June 30, 2023: Nonvested Equity Stock and Stock Units Shares Weighted- Average Grant-Date Fair Value Nonvested at December 31, 2022 4,718,060 $ 22.78 Granted 1,174,026 $ 46.01 Vested (1,516,751) $ 24.29 Forfeited (328,194) $ 26.62 Nonvested at June 30, 2023 4,047,141 $ 31.32

Restructuring and Related Act_2

Restructuring and Related Activities (Tables)	6 Months Ended
Restructuring and Related Activities (Tables)	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes the 2023 Plan restructuring activities during the six months ended June 30, 2023: (In thousands) Employee Other Costs Total Liability at December 31, 2022 $ — $ — $ — Charges 4,746 4,748 9,494 Non-cash items* — (948) (948) Payments — (500) (500) Liability at June 30, 2023 $ 4,746 $ 3,300 $ 8,046 _________________________________________ * The non-cash items of $0.9 million related to the write-down of software licenses for engineering development tools.

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
Acquisition (Tables)	Jun. 30, 2023
Business Combinations [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The total consideration from the acquisition was allocated as of the Closing Date, and reflects adjustments made during the measurement period, as follows: (In thousands) Total Cash and cash equivalents $ 209 Accounts receivable 1,088 Unbilled receivables 239 Prepaid expenses and other current assets 16 Identified intangible assets 5,000 Goodwill 12,069 Accounts payable (55) Deferred revenue (578) Income taxes payable (466) Deferred tax liability (1,325) Other current liabilities (56) Total $ 16,141
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The identified intangible assets assumed in the acquisition of Hardent were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 4,800 5 years Customer contracts and contractual relationships 200 2 years Total $ 5,000
Business acquisition, pro forma information	Additionally, the pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisition: Three Months Ended Six Months Ended (In thousands) June 30, 2022 June 30, 2022 Total revenue $ 122,136 $ 223,241 Net income (loss) $ 34,571 $ (30,398)

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 97,851	$ 150,920
Deferred revenue	$ 18,217	$ 25,421

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Millions	6 Months Ended
Revenue Recognition (Details 2) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract balances, revenue recognized	$ 17	$ 17.8

Revenue Recognition (Details 3)

Revenue Recognition (Details 3) $ in Millions	Jun. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 29
Remaining performance obligation, expected timing of satisfaction, start date: 2023-07-01
Remaining performance obligation, expected timing of satisfaction
Remaining performance obligations, expected timing of satisfaction period	2 years

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income (loss)	$ 168,880	$ 35,020	$ 172,161	$ (31,198)
Denominator:
Weighted-average common shares outstanding, basic (in shares)	109,039	110,447	108,561	110,170
Effect of potentially dilutive common shares	2,562	2,268	2,812	0
Denominator:
Weighted-average common shares outstanding, diluted (in shares)	111,601	112,715	111,373	110,170
Basic net income (loss) per share	$ 1.55	$ 0.32	$ 1.59	$ (0.28)
Diluted net income (loss) per share	$ 1.51	$ 0.31	$ 1.55	$ (0.28)

Earnings (Loss) Per Share (De_2

Earnings (Loss) Per Share (Details 2) shares in Thousands	3 Months Ended
Earnings (Loss) Per Share (Details 2) shares in Thousands	Jun. 30, 2022 shares
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	3,019
Stock options
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	286
Restricted stock units
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	1,990
Potentially issuable shares related to the in-the-money conversion feature of convertible notes
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	724
Contingently issuable ESPP shares
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	19

Earnings (Loss) Per Share (De_3

Earnings (Loss) Per Share (Details 3) - USD ($) $ in Thousands, shares in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Anti-dilutive shares excluded from calculation of earnings per share
Payments for settlement and repurchase of convertible senior notes		$ 10,381	$ 199,111
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Anti-dilutive shares excluded from calculation of earnings per share
Payments for settlement and repurchase of convertible senior notes	$ 10,400
Face value		$ 0		$ 10,381
Issuance of common stock in connection with the maturity of the convertible senior notes related to the settlement of the in-the-money conversion feature of the convertible senior notes (in shares)	0.3

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) $ in Thousands	6 Months Ended
Intangible Assets and Goodwill (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Goodwill
Beginning balance	$ 292,040
Adjustments to goodwill	0
Ending balance	$ 292,040

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details 2) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount	$ 313,810
Accumulated impairment losses	(21,770)
Net carrying amount	$ 292,040	$ 292,040

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details 3) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Components of intangible assets
Intangible assets, gross	$ 349,391	$ 349,421
Accumulated amortization	(306,399)	(298,541)
Finite-lived intangible assets	31,792
In-process research and development	11,200
Intangible assets, net	42,992	50,880
In-process research and development
Components of intangible assets
In-process research and development	11,200	11,200
Existing technology
Components of intangible assets
Gross carrying amount	299,895	299,925
Accumulated amortization	(268,885)	(261,708)
Finite-lived intangible assets	$ 31,010	$ 38,217
Existing technology \| Minimum
Components of intangible assets
Useful life (in years)	3 years	3 years
Existing technology \| Maximum
Components of intangible assets
Useful life (in years)	10 years	10 years
Customer contracts and contractual relationships
Components of intangible assets
Gross carrying amount	$ 37,996	$ 37,996
Accumulated amortization	(37,214)	(36,533)
Finite-lived intangible assets	$ 782	$ 1,463
Customer contracts and contractual relationships \| Minimum
Components of intangible assets
Useful life (in years)	6 months	6 months
Customer contracts and contractual relationships \| Maximum
Components of intangible assets
Useful life (in years)	10 years	10 years
Non-compete agreements and trademarks
Components of intangible assets
Gross carrying amount	$ 300	$ 300
Accumulated amortization	(300)	(300)
Finite-lived intangible assets	$ 0	$ 0
Useful life (in years)	3 years	3 years

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Details 4) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 3,900	$ 3,800	$ 7,888	$ 7,624

Intangible Assets and Goodwil_6

Intangible Assets and Goodwill (Details 5) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Estimated future amortization expense of intangible assets
2023 (remaining six months)	$ 7,533
2024	12,726
2025	6,687
2026	4,368
2027	478
Thereafter	0
Finite-lived intangible assets	31,792
In-process research and development	11,200
Intangible assets, net	$ 42,992	$ 50,880

Segment Information (Details)

Segment Information (Details) - Customer concentration risk - Accounts receivable	Jun. 30, 2023	Dec. 31, 2022
Customer 1
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable	64%
Customer 2
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable		23%
Customer 3
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable		16%
Customer 4
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable		14%

Segment Information (Details 2)

Segment Information (Details 2) - Customer concentration risk - Revenue	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Customer A
Concentration risk
Revenue from major customer as a percentage of total revenue	38%		25%
Customer B
Concentration risk
Revenue from major customer as a percentage of total revenue	12%	19%	15%	21%
Customer C
Concentration risk
Revenue from major customer as a percentage of total revenue		17%		13%
Customer D
Concentration risk
Revenue from major customer as a percentage of total revenue		13%		13%

Segment Information (Details 3)

Segment Information (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details 3) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Major customer disclosure
Revenue	$ 119,832	$ 121,132	$ 233,594	$ 220,182
USA
Major customer disclosure
Revenue	35,429	67,285	99,068	122,969
South Korea
Major customer disclosure
Revenue	48,613	2,572	62,757	4,037
Singapore
Major customer disclosure
Revenue	14,718	25,719	26,046	39,764
Taiwan
Major customer disclosure
Revenue	4,279	10,499	10,788	15,459
China
Major customer disclosure
Revenue	3,399	7,600	7,654	15,805
Other
Major customer disclosure
Revenue	$ 13,394	$ 7,457	$ 27,281	$ 22,148

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	6 Months Ended
Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt securities, available-for-sale
Maximum maturity period of available-for-sale securities (in years)	3 years
Cash and cash equivalents
Gross unrealized gains	$ 1	$ 0
Gross unrealized losses	0	(4)
Total cash and cash equivalents, fair value	122,190	125,334
Total cash and cash equivalents, amortized cost	122,189	125,338
Marketable securities
Fair value	210,437	187,892
Amortized cost	212,450	191,504
Gross unrealized gains	1	8
Gross unrealized losses	2,014	3,620
Cash, cash equivalents and marketable securities
Fair value	332,627	313,226
Amortized cost	334,639	316,842
Gross unrealized gains	2	8
Gross unrealized losses	(2,014)	(3,624)
Time deposits
Marketable securities
Fair value	4,951
Amortized cost	4,951
Gross unrealized gains	0
Gross unrealized losses	0
U.S. Government bonds and notes
Marketable securities
Fair value	89,592	96,371
Amortized cost	90,546	98,250
Gross unrealized gains	0	1
Gross unrealized losses	954	1,880
Corporate notes, bonds and commercial paper
Marketable securities
Fair value	115,894	91,521
Amortized cost	116,953	93,254
Gross unrealized gains	1	7
Gross unrealized losses	1,060	1,740
Cash
Cash and cash equivalents
Fair value	85,826	94,737
Amortized cost	85,826	94,737
Total cash and cash equivalents, fair value	85,826	94,737
Money market funds
Cash and cash equivalents
Fair value	23,438	15,763
Amortized cost	23,438	15,763
Gross unrealized gains	0	0
Gross unrealized losses	0	0
U.S. Government bonds and notes
Cash and cash equivalents
Fair value	6,957
Amortized cost	6,956
Gross unrealized gains	1
Gross unrealized losses	0
Corporate notes, bonds and commercial paper
Cash and cash equivalents
Fair value	5,969	14,834
Amortized cost	5,969	14,838
Gross unrealized gains	0	0
Gross unrealized losses	0	(4)
Cash equivalents
Cash and cash equivalents
Fair value	36,364	30,597
Amortized cost	36,363	30,601
Gross unrealized gains	1	0
Gross unrealized losses	0	(4)
Total cash and cash equivalents, fair value	$ 36,364	$ 30,597

Marketable Securities (Details

Marketable Securities (Details 2) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt securities, available-for-sale
Total cash and cash equivalents	$ 122,190	$ 125,334
Marketable securities	210,437	187,892
Fair value	332,627	313,226
Cash
Debt securities, available-for-sale
Total cash and cash equivalents	85,826	94,737
Cash equivalents
Debt securities, available-for-sale
Total cash and cash equivalents	$ 36,364	$ 30,597

Marketable Securities (Detail_2

Marketable Securities (Details 3) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt securities, available-for-sale
Less than 12 months, fair value	$ 131,762	$ 74,431
Less than 12 months, gross unrealized losses	(400)	(58)
12 months or greater, fair value	70,600	112,147
12 months or greater, gross unrealized losses	(1,614)	(3,566)
Fair value	202,362	186,578
Gross unrealized losses	(2,014)	(3,624)
U.S. Government bonds and notes
Debt securities, available-for-sale
Less than 12 months, fair value	43,962	28,893
Less than 12 months, gross unrealized losses	(174)	(23)
12 months or greater, fair value	45,631	62,588
12 months or greater, gross unrealized losses	(780)	(1,857)
Corporate notes, bonds and commercial paper
Debt securities, available-for-sale
Less than 12 months, fair value	87,800	45,538
Less than 12 months, gross unrealized losses	(226)	(35)
12 months or greater, fair value	24,969	49,559
12 months or greater, gross unrealized losses	$ (834)	$ (1,709)

Marketable Securities (Detail_3

Marketable Securities (Details 4) $ in Thousands	Jun. 30, 2023 USD ($)
Contractual maturities
Contractual maturities, fair value, due less than one year	$ 207,899
Contractual maturities, fair value, due from one year through three years	15,464
Contractual maturities, fair value	$ 223,363

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets carried at fair value
Marketable securities	$ 210,437	$ 187,892
Time deposits
Assets carried at fair value
Marketable securities	4,951
U.S. Government bonds and notes
Assets carried at fair value
Marketable securities	89,592	96,371
Corporate notes, bonds and commercial paper
Assets carried at fair value
Marketable securities	115,894	91,521
Recurring basis
Assets carried at fair value
Total assets carried at fair value	246,801	218,489
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	28,600	14,800
Total liabilities carried at fair value	28,600	14,800
Recurring basis \| Money market funds
Assets carried at fair value
Marketable securities	23,438	15,763
Recurring basis \| Time deposits
Assets carried at fair value
Marketable securities	4,951
Recurring basis \| U.S. Government bonds and notes
Assets carried at fair value
Marketable securities	96,549	96,371
Recurring basis \| Corporate notes, bonds and commercial paper
Assets carried at fair value
Marketable securities	121,863	106,355
Recurring basis \| Quoted market prices in active markets (Level 1)
Assets carried at fair value
Total assets carried at fair value	23,438	15,763
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	0	0
Total liabilities carried at fair value	0	0
Recurring basis \| Quoted market prices in active markets (Level 1) \| Money market funds
Assets carried at fair value
Marketable securities	23,438	15,763
Recurring basis \| Quoted market prices in active markets (Level 1) \| Time deposits
Assets carried at fair value
Marketable securities	0
Recurring basis \| Quoted market prices in active markets (Level 1) \| U.S. Government bonds and notes
Assets carried at fair value
Marketable securities	0	0
Recurring basis \| Quoted market prices in active markets (Level 1) \| Corporate notes, bonds and commercial paper
Assets carried at fair value
Marketable securities	0	0
Recurring basis \| Significant other observable inputs (Level 2)
Assets carried at fair value
Total assets carried at fair value	223,363	202,726
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	0	0
Total liabilities carried at fair value	0	0
Recurring basis \| Significant other observable inputs (Level 2) \| Money market funds
Assets carried at fair value
Marketable securities	0	0
Recurring basis \| Significant other observable inputs (Level 2) \| Time deposits
Assets carried at fair value
Marketable securities	4,951
Recurring basis \| Significant other observable inputs (Level 2) \| U.S. Government bonds and notes
Assets carried at fair value
Marketable securities	96,549	96,371
Recurring basis \| Significant other observable inputs (Level 2) \| Corporate notes, bonds and commercial paper
Assets carried at fair value
Marketable securities	121,863	106,355
Recurring basis \| Significant unobservable inputs (Level 3)
Assets carried at fair value
Total assets carried at fair value	0	0
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	28,600	14,800
Total liabilities carried at fair value	28,600	14,800
Recurring basis \| Significant unobservable inputs (Level 3) \| Money market funds
Assets carried at fair value
Marketable securities	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| Time deposits
Assets carried at fair value
Marketable securities	0
Recurring basis \| Significant unobservable inputs (Level 3) \| U.S. Government bonds and notes
Assets carried at fair value
Marketable securities	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| Corporate notes, bonds and commercial paper
Assets carried at fair value
Marketable securities	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Details 2) - Earn-out liability - Significant unobservable inputs (Level 3) - Recurring basis - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair value, assets measured on recurring basis, unobservable input reconciliation, rollforward
Balance as of beginning of period	$ 21,700	$ 18,100	$ 14,800	$ 16,900
Change in fair value of earn-out liability due to remeasurement	6,900	(5,500)	13,800	(4,300)
Balance as of end of period	$ 28,600	$ 12,600	$ 28,600	$ 12,600

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Details 3) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt instrument
Carrying value	$ 0	$ 10,378
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Debt instrument
Face value	0	10,381
Carrying value	$ 0	10,378
Fair value		$ 19,625

Fair Value of Financial Instr_6

Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Equity security without readily determinable fair value
Payments for settlement and repurchase of convertible senior notes				$ 10,381	$ 199,111
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Equity security without readily determinable fair value
Payments for settlement and repurchase of convertible senior notes		$ 10,400
Face value	$ 0			$ 0		$ 10,381
Private company
Equity security without readily determinable fair value
Equity method investment, ownership percentage	25%			25%		25%
Private company \| Other assets
Equity security without readily determinable fair value
Equity method investment	$ 0			$ 0		$ 500
Recurring basis \| Significant unobservable inputs (Level 3) \| Earn-out liability
Equity security without readily determinable fair value
Change in fair value of earn-out liability due to remeasurement	$ 6,900		$ (5,500)	$ 13,800	$ (4,300)

Leases, Operating Lease Maturit

Leases, Operating Lease Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (remaining six months)	$ 2,896
2024	5,293
2025	5,361
2026	5,589
2027	4,751
Thereafter	13,000
Total minimum lease payments	36,890
Less: amount of lease payments representing interest	(5,632)
Present value of future minimum lease payments	31,258
Operating lease liabilities	4,098	$ 5,024
Long-term operating lease liabilities	$ 27,160	$ 29,079

Leases, Additional Details (Det

Leases, Additional Details (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lessee, lease, description
Operating lease, weighted-average remaining lease term	6 years 9 months 18 days		6 years 9 months 18 days
Operating lease, weighted-average discount rate (as a percentage)	5.40%		5.40%
Operating lease costs	$ 1.5	$ 1.9	$ 3.4	$ 3.8
Operating lease payments			$ 3.7	$ 4.5
Minimum
Lessee, lease, description
Lessee, operating lease, remaining lease term	1 year		1 year
Maximum
Lessee, lease, description
Lessee, operating lease, remaining lease term	7 years		7 years

Convertible Notes (Details)

Convertible Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt instrument
Total convertible notes	$ 0	$ 10,378
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Debt instrument
Face value	0	10,381
Unamortized debt issuance costs	0	(3)
Total convertible notes	0	10,378
Less current portion	0	10,378
Total long-term convertible notes	$ 0	$ 0

Convertible Notes (Details 2)

Convertible Notes (Details 2) - Convertible senior notes - 1.375% Convertible senior notes due 2023 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest expense related to notes
Convertible notes, stated interest rate (as a percentage)	1.375%	1.375%	1.375%	1.375%
Coupon interest expense	$ 0	$ 169	$ 12	$ 485
Amortization of debt issuance costs	0	46	3	151
Interest Expense, Other Long-Term Debt	$ 0	$ 215	$ 15	$ 636

Convertible Notes (Details Text

Convertible Notes (Details Textual) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt instrument
Payments for settlement and repurchase of convertible senior notes				$ 10,381	$ 199,111
Payments for settlement of warrants		$ (10,700)		(10,697)	(55,148)
Loss on fair value adjustment of derivatives, net	$ 0		$ 0	$ 240	$ 8,283
Common stock
Debt instrument
Issuance of common stock in connection with the maturity of the convertible senior notes related to the settlement of the in-the-money conversion feature of the convertible senior notes (in shares)				284
Exercise of the convertible senior note hedges in conjunction with the conversion of convertible senior notes (in shares)		(300)		(284)
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Debt instrument
Payments for settlement and repurchase of convertible senior notes		$ 10,400
Face value	$ 0			$ 0		$ 10,381
Issuance of common stock in connection with the maturity of the convertible senior notes related to the settlement of the in-the-money conversion feature of the convertible senior notes (in shares)		300

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Contractual obligations
Remainder of 2023	[1],[2],[3]		$ 12,996
2024	[1],[2],[3]		18,776
2025	[1],[2],[3]		8,418
2026	[1],[2],[3]		0
2027	[1],[2],[3]		0
Total contractual obligation	[1],[2],[3]		40,190
Unrecognized tax benefit excluding foreign tax withholdings			21,500
Unrecognized tax benefits			174,700		$ 164,500
Payments for settlement and repurchase of convertible senior notes			10,381	$ 199,111
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Contractual obligations
Payments for settlement and repurchase of convertible senior notes		$ 10,400
Face value			0		10,381
Long-term deferred tax assets
Contractual obligations
Unrecognized tax benefits			20,100		19,600
Long-term income taxes payable
Contractual obligations
Unrecognized tax benefits			1,400		$ 1,300
Software licenses
Contractual obligations
Remainder of 2023	[1],[2],[3],[4]		8,718
2024	[1],[2],[3],[4]		16,452
2025	[1],[2],[3],[4]		8,082
2026	[1],[2],[3],[4]		0
2027	[1],[2],[3],[4]		0
Total contractual obligation	[1],[2],[3],[4]		$ 33,252
Terms of noncancellable license agreements, minimum (in years)			1 year
Software licenses \| Other current liabilities \| Engineering development tools
Contractual obligations
Total contractual obligation			$ 16,000
Software licenses \| Other long-term liabilities \| Engineering development tools
Contractual obligations
Total contractual obligation			14,200
Other contractual obligations
Contractual obligations
Remainder of 2023	[1],[2],[3]		2,889
2024	[1],[2],[3]		600
2025	[1],[2],[3]		0
2026	[1],[2],[3]		0
2027	[1],[2],[3]		0
Total contractual obligation	[1],[2],[3]		3,489
Acquisition retention bonuses
Contractual obligations
Remainder of 2023	[1],[2],[3],[5]		1,389
2024	[1],[2],[3],[5]		1,724
2025	[1],[2],[3],[5]		336
2026	[1],[2],[3],[5]		0
2027	[1],[2],[3],[5]		0
Total contractual obligation	[1],[2],[3],[5]		$ 3,449

[1] During the first quarter of 2023, the Company paid upon maturity the remaining $10.4 million in aggregate principal amount of the 2023 Notes. Refer to Note 9, “Convertible Notes,” for additional information.

Equity Incentive Plans and St_3

Equity Incentive Plans and Stock-Based Compensation (Details)	6 Months Ended
	Jun. 30, 2023 shares
Stock compensation plan
Shares available for grant
Shares available as of beginning of period	7,655,769
Number of additional shares authorized	5,210,000	[1]
Nonvested equity stock and stock units granted (in shares)	(1,987,388)	[2],[3]
Nonvested equity stock and stock units forfeited (in shares)	529,072	[3]
Shares available as of end of period	11,407,453
Stock compensation plan \| Award date, Period 1
Shares available for grant
Conversion factor used to calculate the decrease in the number of shares available for grant resulting from the grant of restricted stock awards	1.5
Conversion factor used to calculate the increase in the number of shares available for grant resulting from the forfeiture of restricted stock awards	1.5
Stock compensation plan \| Award date, Period 2
Shares available for grant
Conversion factor used to calculate the decrease in the number of shares available for grant resulting from the grant of restricted stock awards	1
Conversion factor used to calculate the increase in the number of shares available for grant resulting from the forfeiture of restricted stock awards	1
Potential additional performance stock units
Shares available for grant
Nonvested equity stock and stock units granted (in shares)	200,000

[1]On April 27, 2023, the Company’s stockholders approved these additional shares to be reserved for issuance under the 2015 Equity Incentive Plan (the “2015 Plan”).[2]Amount includes approximately 0.2 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in the first quarter of 2023 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below.[3]For purposes of determining the number of shares available for grant under the 2015 Plan against the maximum number of shares authorized, each restricted stock unit granted prior to April 27, 2023 reduces the number of shares available for grant by 1.5 shares and each restricted stock unit forfeited increases shares available for grant by 1.5 shares. Each restricted stock unit granted on or after April 27, 2023 reduces the number of shares available for grant by 1.0 shares and each restricted stock unit forfeited increases shares available for grant by 1.0 shares.

Equity Incentive Plans and St_4

Equity Incentive Plans and Stock-Based Compensation (Details 2) - Options $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Number of shares
Outstanding as of beginning of period \| shares	432,443
Options exercised \| shares	(155,205)
Outstanding as of end of period \| shares	277,238
Vested or expected to vest as of end of period \| shares	277,234
Options exercisable as of end of period \| shares	270,571
Weighted-average exercise price
Outstanding as of beginning of period \| $ / shares	$ 11.60
Options exercised \| $ / shares	11.04
Outstanding as of end of period \| $ / shares	11.92
Vested or expected to vest as of end of period \| $ / shares	11.92
Options exercisable as of end of period \| $ / shares	$ 11.88
Weighted-average remaining contractual term (in years)
Outstanding	3 years 7 months 6 days
Vested or expected to vest	3 years 7 months 6 days
Options exercisable	3 years 6 months 14 days
Aggregate intrinsic value
Options exercised \| $	$ 8,247
Outstanding \| $	14,485
Vested or expected to vest \| $	14,485
Options exercisable \| $	$ 14,147

Equity Incentive Plans and St_5

Equity Incentive Plans and Stock-Based Compensation (Details 3) - Nonvested equity stock units and stock units - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Nonvested equity stock and stock units
Nonvested as of beginning of period (in shares)			4,718,060
Granted (in shares)	100,000	100,000	1,174,026	1,700,000
Vested (in shares)			(1,516,751)
Forfeited (in shares)			(328,194)
Nonvested as of end of period (in shares)	4,047,141		4,047,141
Weighted-average grant-date fair value
Nonvested as of beginning of period (in dollars per share)			$ 22.78
Granted (in dollars per share)			46.01
Vested (in dollars per share)			24.29
Forfeited (in dollars per share)			26.62
Nonvested as of end of period (in dollars per share)	$ 31.32		$ 31.32

Equity Incentive Plans and St_6

Equity Incentive Plans and Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Stock compensation plan
Stock-based compensation
Shares available for issuance	11,407,453		11,407,453		7,655,769
Contingently issuable ESPP shares
Stock-based compensation
Employee stock purchase plan, shares issued during period			120,569	161,254
Employee stock purchase plans, weighted average price per share			$ 27.91	$ 19.97
Shares available for issuance	2,400,000		2,400,000
Discount from the fair market value (as a percentage)			15%
Stock-based compensation expense	$ 0.4	$ 0.4	$ 1	$ 0.8
Unrecognized compensation cost	0.6		$ 0.6
Unrecognized compensation cost, weighted-average period			4 months
Options
Stock-based compensation
Unrecognized compensation cost	0.1		$ 0.1
Unrecognized compensation cost, weighted-average period			3 months 18 days
Nonvested equity stock units and stock units
Stock-based compensation
Stock-based compensation expense	10.9	$ 8.2	$ 23.4	$ 15.5
Unrecognized compensation cost	$ 86.9		$ 86.9
Unrecognized compensation cost, weighted-average period			2 years 3 months 18 days
Awards, nonvested grants in period, shares	100,000	100,000	1,174,026	1,700,000
Requisite service period	4 years	4 years	4 years	4 years
Awards, nonvested grants in period, fair value	$ 2.5	$ 4.3	$ 55.2	$ 48.9
Nonvested equity stock units and stock units \| Director
Stock-based compensation
Requisite service period	1 year	1 year	1 year	1 year
Nonvested equity stock units and stock units \| Minimum
Stock-based compensation
Awards, vesting rights (as a percentage)			0%	0%
Nonvested equity stock units and stock units \| Maximum
Stock-based compensation
Awards, vesting rights (as a percentage)			200%	200%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - 2020 Share repurchase program - shares	Jun. 30, 2023	Oct. 29, 2020
Class of stock
Total number of shares authorized to be repurchased under the program		20,000,000
Remaining number of shares authorized to be repurchased	9,700,000

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - 2022 Accelerated share repurchase program - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Accelerated share repurchases
Accelerated share repurchase program, upfront payment		$ 100
Repurchase and retirement of common stock under repurchase program (in shares)	(0.1)	(3.1)
Repurchase and retirement of common stock under repurchase program		$ (80)
Remaining initial payment, unsettled forward contract indexed to Company's stock		$ 20

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ (155,325)	$ 2,930	$ (155,124)	$ 3,444
Income taxes paid	$ 5,000	$ 5,400	$ 10,400	$ 10,300

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Income Taxes (Details 2) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Valuation allowance, deferred tax asset, increase (decrease)	$ (149.4)	$ 149.4

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Valuation allowance
Unrecognized tax benefits	$ 174.7	$ 164.5
Portion of unrecognized tax benefits, which if recognized, would be recorded as an income tax benefit	154.6
Long-term deferred tax assets
Valuation allowance
Unrecognized tax benefits	20.1	19.6
Other assets \| Foreign tax authority \| National Tax Services
Valuation allowance
Unrecognized tax benefits	153.2	143.6
Long-term income taxes payable
Valuation allowance
Unrecognized tax benefits	$ 1.4	$ 1.3

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Details) - Jun. 30, 2023 € in Millions, $ in Millions	EUR (€)	USD ($)
Not designated as hedging instrument \| Foreign currency forward contract \| Euro
Derivative instruments and hedging activities disclosures
Derivative, notional amount	€ 10	$ 11

Restructuring and Related Act_3

Restructuring and Related Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring reserve
Charges	$ 9,494	$ 0	$ 9,494	$ 0
2023 Plan
Restructuring reserve
Balance at beginning of period			0
Charges	9,500		9,494
Non-cash charges			(948)
Payments for restructuring			(500)
Balance at end of period	8,046		8,046
2023 Plan \| Employee severance
Restructuring reserve
Balance at beginning of period			0
Charges			4,746
Non-cash charges			0
Payments for restructuring			0
Balance at end of period	4,746		4,746
2023 Plan \| Other restructuring
Restructuring reserve
Balance at beginning of period			0
Charges			4,748
Non-cash charges			(948)
Payments for restructuring			(500)
Balance at end of period	$ 3,300		$ 3,300

Restructuring and Related Act_4

Restructuring and Related Activities (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Restructuring costs and reserves
Charges		$ 9,494	$ 0	$ 9,494	$ 0
2023 Plan
Restructuring costs and reserves
Restructuring, number of positions eliminated	42
Charges		$ 9,500		$ 9,494

Acquisition (Consideration Tran

Acquisition (Consideration Transferred) (Details) - Hardent, Inc. $ in Millions	May 20, 2022 USD ($)
Business acquisition
Total consideration	$ 16.1
Total consideration transferred	$ 14.7
Escrow release term	18 months
Indemnification obligations
Business acquisition
Escrow deposits	$ 1.2
Other contractual provisions
Business acquisition
Escrow deposits	$ 0.2

Acquisition (Purchase Price All

Acquisition (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	May 20, 2022
Business acquisition
Goodwill	$ 292,040	$ 292,040
Hardent, Inc.
Business acquisition
Cash and cash equivalents			$ 209
Accounts receivables			1,088
Unbilled receivables			239
Prepaid expenses and other current assets			16
Identified intangible assets			5,000
Goodwill			12,069
Accounts payable			(55)
Deferred revenue			(578)
Income taxes payable			(466)
Deferred tax liability			(1,325)
Other current liabilities			(56)
Recognized identifiable assets acquired and liabilities assumed, net			$ 16,141

Acquisition (Intangible Assets

Acquisition (Intangible Assets Acquired as Part of Business Combination) (Details) - Hardent, Inc. $ in Thousands	May 20, 2022 USD ($)
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed	$ 5,000
Existing technology
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed	$ 4,800
Identified intangible assets assumed, useful life (in years)	5 years
Customer contracts and contractual relationships
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed	$ 200
Identified intangible assets assumed, useful life (in years)	2 years

Acquisition (Pro Forma Informat

Acquisition (Pro Forma Information) (Details) - Hardent, Inc. - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Pro forma financial information, nonrecurring adjustment
Pro forma financial information, revenue	$ 122,136	$ 223,241
Pro forma financial information, net income (loss)	34,571	$ (30,398)
Pro forma financial information, adjustment, acquisition-related costs	$ 900

Acquisition (Additional Informa

Acquisition (Additional Information) (Details) - USD ($) $ in Thousands		Jun. 30, 2023	May 20, 2022
Business acquisition
Contractual obligation	[1],[2],[3]	$ 40,190
Acquisition retention bonuses
Business acquisition
Contractual obligation	[1],[2],[3],[4]	$ 3,449
Hardent, Inc. \| Acquisition retention bonuses \| Annually
Business acquisition
Contractual obligation			$ 1,200

[1] During the first quarter of 2023, the Company paid upon maturity the remaining $10.4 million in aggregate principal amount of the 2023 Notes. Refer to Note 9, “Convertible Notes,” for additional information.

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	Jul. 19, 2023 USD ($)
Subsequent event \| SerDes and Memory Interface PHY IP \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Subsequent event
Disposal group, consideration	$ 110