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Apr 30, 2020
Ambarella Q1 2021 Earnings Report
Reported revenue increase of 16% year-over-year and a GAAP net loss of $15.5 million.
Key Takeaways
Ambarella reported first-quarter fiscal year 2021 financial results, with revenue reaching $54.6 million, a 16% increase from the previous year. The company's GAAP net loss was $15.5 million, or $0.45 per diluted share, while non-GAAP net income was $1.3 million, or $0.04 per diluted share.
Revenue for Q1 fiscal year 2021 was $54.6 million, up 16% year-over-year.
GAAP gross margin was 58.6%, compared to 59.0% in the same period last year.
GAAP net loss was $15.5 million, or $0.45 per diluted share.
Non-GAAP net income was $1.3 million, or $0.04 per diluted share.
Ambarella
Ambarella
Forward Guidance
For the second quarter of fiscal year 2021, Ambarella expects revenue to be $50.0 million plus or minus 6% and non-GAAP gross margin to be between 59.0% and 60.5%.
Positive Outlook
- Revenue is expected to be $50.0 million plus or minus 6%.
- Gross margin on a non-GAAP basis is expected to be between 59.0% and 60.5%.
- CV design activity remains strong.
- Five new CV customers entered production in Q1.
- Long-term outlook for higher levels of automation remains healthy.
Challenges Ahead
- Unprecedented combination of geopolitical and public health risks.
- Associated economic downturn.
- Limited visibility.
- Duration, severity and impact to be unknown.
- Potential for intellectual property disputes or other litigation.