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Apr 30, 2023
Ambarella Q1 2024 Earnings Report
Announced financial results for the first quarter of fiscal year 2024, showing a decrease in revenue compared to the same period last year, alongside a GAAP net loss.
Key Takeaways
Ambarella reported Q1 2024 revenue of $62.1 million, a 31% decrease from Q1 2023. The company experienced a GAAP net loss of $35.9 million, or $0.91 per diluted share, compared to a net loss of $10.8 million, or $0.29 per share, in the same period last year.
Revenue for Q1 2024 was $62.1 million, down 31% year-over-year.
GAAP gross margin was 60.4%, compared to 62.6% in the same period last year.
GAAP net loss was $35.9 million, or $0.91 per diluted share.
Non-GAAP net loss was $6.0 million, or $0.15 per diluted share.
Ambarella
Ambarella
Forward Guidance
For the second quarter of fiscal year 2024, Ambarella expects revenue to be between $60.0 million and $64.0 million, and non-GAAP gross margin to be between 62.5% and 64.5%. Non-GAAP operating expenses are expected to be between $48.0 million and $50.0 million.