Ambarella, Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results

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[{"type":"text","content":"SANTA CLARA, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, today announced fourth quarter and full year fiscal 2023 financial results for the period ending January 31, 2023. Revenue for the fourth quarter of fiscal 2023 was $83.3 million, down 7.7% from $90.2 million in the same period in fiscal 2022. For the fiscal year ending January 31, 2023, revenue was $337.6 million, up 1.7% from $331.9 million for the fiscal year ending January 31, 2022.Gross margin under U.S. generally accepted accounting principles (GAAP) for the fourth quarter of fiscal 2023 was 59.6%, compared with 63.5% for the same period in fiscal 2022. For the fiscal year ending January 31, 2023, GAAP gross margin was 61.9%, compared with 62.7% for the fiscal year ending January 31, 2022.GAAP net loss for the fourth quarter of fiscal 2023 was $11.1 million, or loss per diluted ordinary share of $0.29, compared with a GAAP net loss of $9.2 million, or loss per diluted ordinary share of $0.25, for the same period in fiscal 2022. GAAP net loss for the fiscal year ending January 31, 2023 was $65.4 million, or loss per diluted ordinary share of $1.70. This compares with GAAP net loss of $26.4 million, or loss per diluted ordinary share of $0.72, for the fiscal year ending January 31, 2022. Financial results on a non-GAAP basis for the fourth quarter and full year fiscal 2023 are as follows: Gross margin on a non-GAAP basis for the fourth quarter of fiscal 2023 was 63.5%, compared with 64.8% for the same period in fiscal 2022. For the fiscal year ending January 31, 2023, non-GAAP gross margin was 63.9%, compared with 63.4% for the fiscal year ending January 31, 2022.Non-GAAP net income for the fourth quarter of fiscal 2023 was $8.9 million, or earnings per diluted ordinary share of $0.23. This compares with non-GAAP net income of $17.9 million, or earnings per diluted ordinary share of $0.45, for the same period in fiscal 2022. Non-GAAP net income for the fiscal year ending January 31, 2023 was $43.1 million, or earnings per diluted ordinary share of $1.10. This compares with non-GAAP net income of $62.2 million, or earnings per diluted ordinary share of $1.61, for the fiscal year ending January 31, 2022. Based on information available as of today, Ambarella is offering the following guidance for the first qu...

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