Ambarella, Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results


The difference between GAAP and non-GAAP gross margin was 3.9% and 1.3%, or $3.3 million and $1.2 million, for the three months ending January 31, 2023 and 2022, respectively. The difference between GAAP and non-GAAP gross margin was 2.0% and 0.7%, or $6.6 million and $2.4 million, for the fiscal years ending January 31, 2023 and 2022, respectively. The differences were due to the effect of stock-based compensation and the amortization of acquisition-related costs.



AMBARELLA, INC.
RECONCILIATION OF GAAP TO NON-GAAP DILUTED EARNINGS (LOSSES) PER SHARE
(in thousands, except share and per share data)
        
  Three Months Ended January 31,  Twelve Months Ended January 31,
   2023    2022    2023    2022 
  (unaudited)
GAAP net loss$(11,105) $(9,193) $(65,386) $(26,411)
        
Non-GAAP adjustments:       
Stock-based compensation expense 29,107   27,534   111,158   87,801 
Acquisition-related costs 1,245   2,978   5,094   4,732 
Income tax effect (10,310)  (3,445)   (7,785 )     (3,971 )
Non-GAAP net income $ 8,937     $ 17,874     $ 43,081     $ 62,151  
               
GAAP - diluted weighted average shares   38,898,290       37,133,454       38,363,638       36,577,120  
Non-GAAP - diluted weighted average shares   39,639,253       39,655,416       39,135,313       38,706,977  
               
GAAP - diluted net loss per share $ (0.29 )   $ (0.25 )   $ (1.70 )   $ (0.72 )
Non-GAAP adjustments:              
Stock-based compensation expense   0.75       0.74       2.90       2.40  
Acquisition-related costs   0.03       0.08       0.13       0.13  
Income tax effect   (0.27 )     (0.09 )     (0.20 )     (0.11 )
Effect of Non-GAAP - diluted weighted average shares   0.01       (0.03 )     (0.03 )     (0.09 )
Non-GAAP - diluted net income per share $ 0.23     $ 0.45     $ 1.10     $ 1.61  

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