Ambarella Reports Q2 Financial Results

Ambarella (NASDAQ:AMBA), intelligent vision company design for many robotic applications announced a 9.7 percent year-over-year decline in revenues for the second quarter, with figures dropping to US$56.4 million. Gross margin stood at 58.2 percent, while net loss reached US$10.2 million for the quarter.

As quoted in the press release:

Financial results on a non-GAAP basis for the second quarter of fiscal 2020 are as follows:

• Gross margin on a non-GAAP basis for the second quarter of fiscal 2020 was 58.1%, compared with 61.4% for the same period in fiscal 2019. For the six months ended July 31, 2019, non-GAAP gross margin was 58.8%, compared with 61.6% for the six months ended July 31, 2018.
• Non-GAAP net income for the second quarter of fiscal 2020 was $7.3 million, or earnings per diluted ordinary share of $0.21. This compares with non-GAAP net income of $8.5 million, or earnings per diluted ordinary share of $0.25, for the same period in fiscal 2019. Non-GAAP net income for the six months ended July 31, 2019 was $7.5 million, or earnings per diluted ordinary share of $0.22. This compares with non-GAAP net income of $13.1 million, or earnings per diluted ordinary share of $0.38, for the six months ended July 31, 2018.

Based on information available as of today, Ambarella is offering the following guidance for the third quarter of fiscal year 2020, ending October 31, 2019:

• Revenue is expected to be between $63.0 million and $67.0 million.

• Gross margin on a non-GAAP basis is expected to be between 56.0% and 58.0%.

• Operating expenses on a non-GAAP basis are expected to be between $30.0 million and $32.0 million.

Click here to read the full press release.