Ambarella, Inc. Announces Second Quarter Fiscal Year 2025 Financial Results

Non-GAAP Financial Measures

The company has provided in this release non-GAAP financial information, including non-GAAP gross margin, net income (loss), and earnings (losses) per share, as a supplement to the condensed consolidated financial statements, which are prepared in accordance with generally accepted accounting principles ("GAAP"). Management uses these non-GAAP financial measures internally in analyzing the company’s financial results to assess operational performance and liquidity. The company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning, forecasting and analyzing future periods. Further, the company believes these non-GAAP financial measures are useful to investors because they allow for greater transparency with respect to key financial metrics that the company uses in making operating decisions and because the company believes that investors and analysts use them to help assess the health of its business and for comparison to other companies. Non-GAAP results are presented for supplemental informational purposes only for understanding the company’s operating results. The non-GAAP information should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from non-GAAP measures used by other companies.

With respect to its financial results for the second quarter of fiscal year 2025, the company has provided below reconciliations of its non-GAAP financial measures to its most directly comparable GAAP financial measures. With respect to the company’s expectations for the third quarter of fiscal year 2025, a reconciliation of non-GAAP gross margin and non-GAAP operating expenses guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability and low visibility with respect to the charges excluded from these non-GAAP measures. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.


 
AMBARELLA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
(unaudited)
         
   Three Months Ended July 31,  Six Months Ended July 31,
    2024    2023    2024    2023 
     
Revenue $63,724  $62,121  $118,197  $124,263 
         
Cost of revenue  24,983   23,659   46,296   48,282 
Gross profit     38,741       38,462       71,901       75,981  
                 
Operating expenses:                
Research and development     56,760       54,917       110,897       109,358  
Selling, general and administrative     18,268       18,884       36,736       37,504  
                 
Total operating expenses     75,028       73,801       147,633       146,862  
                 
Loss from operations     (36,287 )     (35,339 )     (75,732 )     (70,881 )
                 
Other income, net     2,145       737       4,416       2,023  
                 
Loss before income taxes     (34,142 )     (34,602 )     (71,316 )     (68,858 )
                 
Provision (benefit) for income taxes     747       (3,404 )     1,505       (1,758 )
                 
Net loss   $ (34,889 )   $ (31,198 )   $ (72,821 )   $ (67,100 )
                 
Net loss per share attributable to ordinary shareholders:              
Basic   $ (0.85 )   $ (0.79 )   $ (1.78 )   $ (1.70 )
Diluted   $ (0.85 )   $ (0.79 )   $ (1.78 )   $ (1.70 )
Weighted-average shares used to compute net loss per share              
attributable to ordinary shareholders:                
Basic     41,129,754       39,736,704       40,952,373       39,538,748  
Diluted     41,129,754       39,736,704       40,952,373       39,538,748  
         

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