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

 


        
  Three Months Ended October 31,  Nine Months Ended October 31,
   2023   2022   2023   2022
  (unaudited, in thousands)
Restructuring expense:       
Cost of revenue$66 $ $66 $
Research and development 672    672  
Selling, general and administrative 114    114  
        
Total restructuring expense$852 $ $852 $
        

 

The difference between GAAP and non-GAAP gross margin was 3.3% and 1.3%, or $1.7 million and $1.1 million, for the three months ended October 31, 2023 and October 31, 2022, respectively. The difference between GAAP and non-GAAP gross margin was 2.9% and 1.4%, or $5.0 million and $3.3 million, for the nine months ended October 31, 2023 and October 31, 2022, respectively. The differences were due to the effect of stock-based compensation, amortization of acquisition-related costs and restructuring expense.


AMBARELLA, INC.
RECONCILIATION OF GAAP TO NON-GAAP DILUTED EARNINGS (LOSSES) PER SHARE
(in thousands, except share and per share data)
        
  Three Months Ended October 31,  Nine Months Ended October 31,
   2023    2022    2023       2022  
  (unaudited)
GAAP net loss $ (41,710 )   $ (19,809 )   $ (108,810 )   $ (54,281 )
               
Non-GAAP adjustments:              
Stock-based compensation expense   27,409       28,101       82,796       82,051  
Acquisition-related costs   1,277       1,277       3,831       3,849  
Restructuring expense   852             852        
Income tax effect   994       (104 )     (1,910 )     2,525  
Non-GAAP net income (loss) $ (11,178 )   $ 9,465     $ (23,241 )   $ 34,144  
               
GAAP - diluted weighted average shares   40,053,251       38,582,584       39,710,248       38,185,421  
Non-GAAP - diluted weighted average shares   40,053,251       39,090,050       39,710,248       38,967,335  
               
GAAP - diluted net loss per share $ (1.04 )   $ (0.51 )   $ (2.74 )   $ (1.42 )
Non-GAAP adjustments:              
Stock-based compensation expense   0.68       0.73       2.08       2.15  
Acquisition-related costs   0.03       0.03       0.10       0.10  
Restructuring expense   0.02             0.02        
Income tax effect   0.03             (0.05 )     0.07  
Effect of Non-GAAP - diluted weighted average shares         (0.01 )           (0.02 )
Non-GAAP - diluted net income (loss) per share $ (0.28 )   $ 0.24     $ (0.59 )   $ 0.88  
               

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