Ambarella, Inc. Announces Second Quarter Fiscal Year 2024 Financial Results


AMBARELLA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands)
     
   July 31,  January 31,
    2023    2023 
     
ASSETS    
Current assets:    
Cash and cash equivalents $122,515  $113,541 
Marketable debt securities  93,997   93,322 
Accounts receivable, net  30,158   51,987 
Inventories  34,770   40,486 
Restricted cash  8   8 
Prepaid expenses and other current assets  5,199   5,288 
Total current assets  286,647   304,632 
        
Property and equipment, net     11,246       11,814  
Deferred tax assets, non-current     22,184       19,276  
Intangible assets, net     63,121       58,497  
Operating lease right-of-use assets, net     6,626       8,339  
Goodwill     303,625       303,625  
Other non-current assets     2,795       4,012  
         
Total assets   $ 696,244     $ 710,195  
         
LIABILITIES AND SHAREHOLDERS' EQUITY        
Current liabilities:        
Accounts payable     11,943       17,845  
Accrued and other current liabilities     54,032       56,655  
Operating lease liabilities, current     3,548       3,539  
Income taxes payable     2,458       4,112  
Deferred revenue, current     2,709       1,311  
Total current liabilities     74,690       83,462  
         
Operating lease liabilities, non-current     3,216       5,097  
Other long-term liabilities     16,020       15,548  
         
Total liabilities     93,926       104,107  
         
Shareholders' equity:        
Preference shares            
Ordinary shares     18       18  
Additional paid-in capital     635,844       572,076  
Accumulated other comprehensive loss     (930 )     (492 )
Retained earnings (accumulated deficit)     (32,614 )     34,486  
Total shareholders’ equity     602,318       606,088  
         
Total liabilities and shareholders' equity   $ 696,244     $ 710,195  



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