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Oct 31, 2022
Ambarella Q3 2023 Earnings Report
Announced third quarter fiscal year 2023 financial results, with revenue decreasing by 10% year-over-year.
Key Takeaways
Ambarella reported Q3 2023 revenue of $83.1 million, a 10% decrease compared to Q3 2022. The company experienced a GAAP net loss of $19.8 million, or $0.51 per diluted share, contrasting with a net profit of $0.8 million, or $0.02 per diluted share, in the same period last year. Non-GAAP net income was $9.5 million, or $0.24 per diluted share, compared to $22.2 million, or $0.57 per diluted share, in Q3 2022.
Q3 revenue was $83.1 million, down 10% year-over-year.
GAAP net loss was $19.8 million, or $0.51 per diluted share.
Non-GAAP net income was $9.5 million, or $0.24 per diluted share.
Cash, cash equivalents, and marketable debt securities totaled $199.0 million.
Forward Guidance
For Q4 2023, Ambarella expects revenue between $81.0 million and $85.0 million, and non-GAAP gross margin between 63.0% and 64.0%. Non-GAAP operating expenses are expected to be between $46.0 million and $49.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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