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

Core Insights - Ambarella, Inc. reported a revenue of $54.5 million for Q1 FY2025, a decrease of 12% from $62.1 million in Q1 FY2024 [1] - The company experienced a GAAP net loss of $37.9 million, or a loss per diluted share of $0.93, compared to a net loss of $35.9 million, or a loss per diluted share of $0.91 in the same period last year [1] - Non-GAAP net loss for Q1 FY2025 was $10.5 million, or a loss per diluted share of $0.26, compared to a non-GAAP net loss of $6.0 million, or a loss per diluted share of $0.15 in Q1 FY2024 [1] Financial Performance - Revenue for Q1 FY2025 was $54.5 million, down from $62.1 million in Q1 FY2024 [1] - Gross margin under GAAP was 60.9%, slightly up from 60.4% in the same period last year [1] - Non-GAAP gross margin was 63.4%, compared to 63.1% in Q1 FY2024 [1] - Total cash, cash equivalents, and marketable debt securities at the end of Q1 FY2025 were $203.3 million, down from $219.9 million at the end of the previous quarter [3] Guidance and Future Outlook - For Q2 FY2025, Ambarella expects revenue to be between $60.0 million and $64.0 million [2] - Non-GAAP gross margin is anticipated to be between 62.5% and 64.0% [2] - Operating expenses on a non-GAAP basis are expected to be between $47.5 million and $49.5 million [2] Strategic Initiatives - The company is witnessing early signs of growth in AI inferencing at the network edge, with new customer engagements expected to drive revenue growth [4] - Ambarella has secured its first win with an electric vehicle OEM and additional wins in commercial vehicles and the IoT market [4]