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Oct 31, 2023
Ambarella Q3 2024 Earnings Report
Announced financial results for the third quarter of fiscal year 2024.
Key Takeaways
Ambarella's Q3 2024 revenue was $50.6 million, a 39% decrease compared to the same period in fiscal 2023. The GAAP net loss was $41.7 million, or $1.04 per diluted share, compared to a net loss of $19.8 million, or $0.51 per diluted share, in the prior year.
Q3 2024 revenue was $50.6 million, down 39% year-over-year.
GAAP gross margin was 59.3%, compared to 62.2% in the same period last year.
GAAP net loss was $41.7 million, or $1.04 per diluted share.
Non-GAAP net loss was $11.2 million, or $0.28 per diluted share.
Ambarella
Ambarella
Forward Guidance
For the fourth quarter of fiscal year 2024, Ambarella expects revenue between $50.0 million and $53.0 million, and non-GAAP gross margin between 62.0% and 63.0%. Non-GAAP operating expenses are expected to be between $45.0 million and $48.0 million.