Ambarella (AMBA) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 27.27%. A quarter ago, it was expected that this video-compression chipmaker would post a loss of $0.39 per share when it actually produced a loss of $0.28, delivering a surprise of 28.21%.Over the last four quarters, the co ...

Revenue Performance - Q4 FY2024 revenue was $51.6 million, down 38.1% YoY from $83.3 million in Q4 FY2023[1] - Full-year FY2024 revenue was $226.5 million, down 32.9% YoY from $337.6 million in FY2023[1] - Revenue for the three months ended January 31, 2024 was $51.6 million, compared to $83.3 million for the same period in 2023[17] Net Loss and Earnings Per Share - Q4 FY2024 GAAP net loss was $60.6 million, or $1.50 per diluted share, compared to a net loss of $11.1 million, or $0.29 per diluted share, in Q4 FY2023[1] - Full-year FY2024 GAAP net loss was $169.4 million, or $4.25 per diluted share, compared to a net loss of $65.4 million, or $1.70 per diluted share, in FY2023[1] - Net loss for the three months ended January 31, 2024 was $60.6 million, compared to a net loss of $11.1 million for the same period in 2023[17] - GAAP diluted net loss per share for the three months ended January 31, 2024 was $1.50, compared to $0.29 for the same period in 2023[21] - Non-GAAP diluted net loss per share for the three months ended January 31, 2024 was $0.24, compared to non-GAAP diluted net income per share of $0.23 for the same period in 2023[21] Non-GAAP Financial Metrics - Q1 FY2025 non-GAAP gross margin guidance is between 61.5% and 63.0%[3] - Non-GAAP net loss for the three months ended January 31, 2024 was $9.8 million, compared to non-GAAP net income of $8.9 million for the same period in 2023[21] - The difference between GAAP and non-GAAP gross margin was 2.7% for the three months ended January 31, 2024, compared to 3.9% for the same period in 2023[19] Operating Expenses and Costs - Q1 FY2025 non-GAAP operating expenses guidance is between $46.0 million and $49.0 million[3] - Total stock-based compensation for the three months ended January 31, 2024 was $28.5 million, compared to $29.1 million for the same period in 2023[18] - Total acquisition-related costs for the three months ended January 31, 2024 were $1.3 million, compared to $1.2 million for the same period in 2023[18] - Total restructuring expense for the three months ended January 31, 2024 was $104,000, compared to $0 for the same period in 2023[19] Cash and Financial Position - Total cash, cash equivalents, and marketable debt securities at the end of Q4 FY2024 was $219.9 million[4] - Cash and cash equivalents increased to $144,914 thousand from $113,541 thousand, a 27.6% increase[22] - Marketable debt securities decreased to $75,013 thousand from $93,322 thousand, a 19.6% decrease[22] - Accounts receivable, net decreased to $24,950 thousand from $51,987 thousand, a 52% decrease[22] - Inventories decreased to $29,043 thousand from $40,486 thousand, a 28.3% decrease[22] - Total current assets decreased to $280,157 thousand from $304,632 thousand, an 8% decrease[22] - Property and equipment, net decreased to $10,439 thousand from $11,814 thousand, an 11.6% decrease[22] - Deferred tax assets, non-current decreased to $234 thousand from $19,276 thousand, a 98.8% decrease[22] - Intangible assets, net decreased to $55,136 thousand from $58,497 thousand, a 5.7% decrease[22] - Total liabilities decreased to $97,784 thousand from $104,107 thousand, a 6.1% decrease[22] - Total shareholders' equity decreased to $559,871 thousand from $606,088 thousand, a 7.6% decrease[22] Future Outlook and Guidance - Q1 FY2025 revenue guidance is between $52.0 million and $56.0 million[3] - The company expects to return to revenue growth in FY2025 due to the strength of its AI products and early actions to help customers navigate excess inventory[5] Product and Operational Achievements - Key achievements in FY2024 included the ramp of the 5nm AI processor CV5 and sampling of three new 5nm AI processors: N1, CV72AQ, and CV3-AD685[5] Tax and Valuation Allowance - The company recorded a valuation allowance of $22.7 million on certain deferred tax assets for the three months ended January 31, 2024[21]

SANTA CLARA, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, today announced it will hold its fourth quarter and fiscal year 2024 earnings conference call on Tuesday, February 27th at 1:30 p.m. (Pacific Time). The company will issue its earnings release after the market closes that same day. Those interested in asking a question on the call are required to register online in advance. Once registered, the dial-in numbers will be provided with a pe ...

SANTA CLARA, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ:AMBA), an edge AI semiconductor company, today announced it will hold its fourth quarter and fiscal year 2024 earnings conference call on Tuesday, February 27th at 1:30 p.m. (Pacific Time). The company will issue its earnings release after the market closes that same day. Those interested in asking a question on the call are required to register online in advance. Once registered, the dial-in numbers will be provided with a per ...

Ambarella (AMBA) recently collaborated with e-con Systems to help the latter launch its own Robotics Computing Platform (RCP). The e-con RCP is an autonomous robot with advanced features like sensors, RGB cameras, Light Detection and Ranging, Inertial Measurement Unit, Ultrasonic, Time of Flight depth camera and motor control interfaces.Together, the two companies have designed the e-con RCP platform for the robotics industry to benefit from the fast prototyping and high performance that the solution can of ...

Ambarella (AMBA) has entered into a collaboration with the Taiwanese electronics manufacturer, Quanta Computer. This collaboration will leverage Ambarella’s CV3-AD, CV7 and N1 series artificial intelligence (AI) systems-on-chip (SoCs) and Quanta’s AI Box and PCIe add-in cards to introduce next-generation AI-based products.Ambarella's newly launched N1 series AI SOCs aim to bring generative AI into edge endpoint devices and on-premise hardware. These SOCs operate on multi-modal large language models (LLMs) a ...

CHENNAI, India and SANTA CLARA, Calif., Jan. 12, 2024 (GLOBE NEWSWIRE) -- e-con Systems, a leading global provider of embedded vision solutions, and Ambarella, Inc. (NASDAQ:AMBA), an edge AI semiconductor company, today announced their partnership and the launch of the e-con Robotics Computing Platform (eRCP). Based on Ambarella's flagship CV72S edge AI system on chip (SoC), this new platform is specifically designed to meet the requirements of the robotics industry. In the fast-evolving robotics market, b ...

TAOYUAN CITY, Taiwan and SANTA CLARA, Calif., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Quanta Computer Inc., a trailblazer in advanced technology solutions, and Ambarella, Inc. (NASDAQ:AMBA), an edge AI semiconductor company, today announced during CES the expansion of their strategic partnership. This collaboration is being broadened to include development with Ambarella's CV3-AD, CV7 and new N1 series AI systems-on-chip (SoCs), marking a significant capabilities advancement for cutting-edge AI products. These of ...

SANTA CLARA, Calif., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ:AMBA), an edge AI semiconductor company, today announced during CES the leading-edge Cooper™ Developer Platform. Cooper offers seamless integration of software, hardware, state-of-the-art fine-tuned AI models, and services that provide universal support for Ambarella's entire portfolio of AI systems-on-chip (SoCs). This platform makes it easier than ever for customers by providing a flexible, modular and prepackaged suite of hard ...

B4LLSSummary Following my coverage of Ambarella Inc. (NASDAQ:AMBA), I recommended a hold rating as I was concerned about the headwinds in the automotive markets and the setbacks that AMBA has faced in the surveillance segment. This post is to provide an update on my thoughts on the business and stock. I am revising my hold rating to a buy rating as I am now focused on FY26 performance, where I expect AMBA to see a strong acceleration in growth. Management comments on inventories and 4Q23 guidance hint t ...