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Apr 30, 2021
Ambarella Q1 2022 Earnings Report
Reported revenue increase of 28% year-over-year, with non-GAAP earnings per share of $0.23.
Key Takeaways
Ambarella reported strong Q1 fiscal year 2022 results, with revenue reaching $70.1 million, a 28% increase from the previous year. The company's non-GAAP net income was $8.9 million, resulting in earnings per diluted share of $0.23.
Revenue for Q1 fiscal year 2022 was $70.1 million, a 28% increase year-over-year.
GAAP gross margin was 62.4%, compared to 58.6% in the same period last year.
Non-GAAP net income was $8.9 million, or $0.23 per diluted share.
Cash, cash equivalents, and marketable debt securities totaled $435.5 million at the end of the quarter.
Forward Guidance
For the second quarter of fiscal year 2022, Ambarella expects revenue between $74.0 million and $77.0 million, and non-GAAP gross margin between 61.0% and 62.0%.
Positive Outlook
- Revenue is expected to be between $74.0 million and $77.0 million.
- Gross margin on a non-GAAP basis is expected to be between 61.0% and 62.0%.
- Automotive business should double this year.
- A multi-year period of share gains has now likely commenced.
- Execution is strong.
Challenges Ahead
- Significant supply-chain challenges are expected.
- The worst of the supply-chain challenges from the Texas freeze will be experienced in Q2.
- Operating expenses on a non-GAAP basis are expected to be between $36.0 million and $37.5 million.
- The results we report in our Quarterly Report on Form 10-Q for the first fiscal quarter ended April 30, 2021 could differ from the preliminary results announced in this press release.
Historical Earnings Impact
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