Ambarella Inc · Q2 2023 earnings

Briefing

Announced second quarter fiscal year 2023 financial results.

Ambarella's revenue for Q2 2023 was $80.9 million, a 2% increase from the same period in fiscal 2022. The non-GAAP net income was $7.6 million, or $0.20 per diluted share, compared to $13.1 million, or $0.35 per diluted share, in the same period last year.

• Revenue for the second quarter of fiscal 2023 was $80.9 million, up 2% from $79.3 million in the same period in fiscal 2022.
• GAAP gross margin for the second quarter of fiscal 2023 was 63.1%, compared with 62.3% for the same period in fiscal 2022.
• GAAP net loss for the second quarter of fiscal 2023 was $23.7 million, or loss per diluted ordinary share of $0.62, compared with GAAP net loss of $7.2 million, or loss per diluted ordinary share of $0.20, for the same period in fiscal 2022.
• Non-GAAP net income for the second quarter of fiscal 2023 was $7.6 million, or earnings per diluted ordinary share of $0.20, compared with non-GAAP net income of $13.1 million, or earnings per diluted ordinary share of $0.35, for the same period in fiscal 2022.

Headline financials

Revenue & EPS history

Ambarella is offering the following guidance for the third quarter of fiscal year 2023, ending October 31, 2022: Revenue is expected to be between $81.0 million to $85.0 million. Gross margin on a non-GAAP basis is expected to be between 63.0% and 64.0%. Operating expenses on a non-GAAP basis are expected to be between $44.0 million and $46.0 million.