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Jan 31, 2023
Ambarella Q4 2023 Earnings Report
Announced fourth quarter and fiscal year 2023 financial results, with revenue decreasing due to inventory slowdown despite healthy end market demand.
Key Takeaways
Ambarella reported a decrease in Q4 revenue to $83.3 million, a 7.7% decrease compared to the same period last year. The company experienced a GAAP net loss of $11.1 million, or $0.29 per diluted share, while non-GAAP net income was $8.9 million, or $0.23 per diluted share.
Q4 revenue was $83.3 million, down 7.7% year-over-year.
GAAP gross margin was 59.6%, compared to 63.5% in the same period last year.
GAAP net loss was $11.1 million, or $0.29 per diluted share.
Non-GAAP net income was $8.9 million, or $0.23 per diluted share.
Forward Guidance
For the first quarter of fiscal year 2024, Ambarella expects revenue between $60.0 million and $64.0 million and non-GAAP gross margin between 62.0% and 64.0%. Non-GAAP operating expenses are expected to be between $47.0 million and $49.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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