Shares of Rambus (RMBS) surged 5.02% during Tuesday's pre-market trading session, following the company's impressive fourth-quarter and full-year 2024 financial results released after the market close on Monday.

According to the tag, Rambus stock code RMBS soared 5.02% to $74.43 at 9:33 am ET on Tuesday, a trading day.

The semiconductor company's strong performance was driven by record revenue from its memory interface chips, contributing to an annual record high for product revenue. Key highlights from the financial results and outlook:

• Q4 revenue of $161.1 million beat expectations, propelled by a 37% year-over-year increase in product revenue to $73.4 million.
• Annual product revenue hit a record $247 million in 2024.
• Cash from operations reached a new high of $231 million for the year.
• Q1 2025 revenue guidance of $156-$162 million, with non-GAAP EPS between $0.51-$0.59.

Rambus attributed its strong performance to continued market share gains across multiple generations of its DDR5 memory interface chips and the introduction of a record number of new chip products in 2024, including power management and companion chips. The company is well-positioned to capitalize on the growing demand for high-performance and high-capacity memory subsystems driven by data-intensive applications and the ongoing evolution of data centers and AI.