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Questions and Answers
Welcome to the Rambus first quarter and fiscal year 2022 earnings conference call. [Operator instructions]. As a reminder, this conference call is being recorded. I would now like to turn the conference over to Des Lynch, vice president of finance and investor relations.
You may begin your conference.
Desmond Lynch — Vice President of Finance and Investor Relations
Thank you, operator, and welcome to the Rambus first quarter 2022 results conference call. I am Desmond Lynch, VP of finance and investor relations. And on the call with me today is Luc Seraphin, our CEO; and Keith Jones, our interim CFO. The press release for the results that we will be discussing today has been filed with the SEC on Form 8-K.
A replay of this call will be available for the next week at (855) 859-2056. You can hear the replay by dialing the toll-free number and then entering ID 6285426 when you hear the prompt. In addition, we are simultaneously webcasting this call, and along with the audio, we are webcasting slides that we will reference during portions of today’s call. So even if you’re joining us via conference call, you may want to access the webcast with the slide presentation.
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A replay of this call can be accessed on our website beginning today at 5:00 p.m. Pacific Time. Our discussions today will contain forward-looking statements, including our expectations driving business opportunities, industry growth rates, product and investment strategies, timing of expected product launches, demand for existing, and newly acquired technologies, the growth opportunities of the various markets we serve, the expected benefits of our merger, acquisition, and divestiture activity, including the success of our integration efforts, the company’s ability to deliver long-term profitable growth. The long-term sustainability of the company to increase product revenue and cash generated from operating activities, the company’s outlook and financial guidance for the second quarter of 2022 and related drivers, the company’s ability to effectively manage supply chain shortages, risks, and the potential adverse impacts related to or arising from COVID-19 and its variants and the effects of ASC 606 on reported revenue, among other things.
These statements are subject to risks and uncertainties that are discussed during this call and may be more fully described in the documents we file with the SEC, including our 8-Ks, 10-Qs, and 10-Ks. These forward-looking statements may differ materially from our actual results, and we are under no obligation to update these statements. In an effort to provide data clarity in the financials, we are using both GAAP and non-GAAP financial presentations in both our press release and on this call. A reconciliation of these non-GAAP financials to the most directly comparable GAAP measures has been included in our press release in our slide presentation and on our website at rambus.com on the investor relations page under financial releases.
We adopted ASC 606 in 2018 using the modified retrospective method, which did not restate prior periods, but rather than the cumulative effect of the option to retain the earnings as a beginning balance sheet adjustment. Any comparison between our results under ASC 606 and prior results under ASC 605 is not an accurate way to track the company’s progress. We will continue to provide operational metrics such as license billings to give our investors better insight into our operational performance. The order of the call today will be as follows: Luc will start with an overview of the business, Keith will discuss our financial results, and then we will end with Q&A.
I’ll now turn the call over to Luc to provide an overview of the quarter. Luc?
Luc Seraphin — Chief Executive Officer Thank you, Dave, and good afternoon, everyone. The company had a strong start to the year with Q1 revenue exceeding guidance at $99 million and earnings at the high end of expectations. We generated solid cash from operations at $42.6 million and continue to grow […]
source RMBS earnings call for the period ending March 31, 2022.