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Ambarella, Inc. Announces Second Quarter Fiscal Year 2021 Financial Results
SANTA CLARA, Calif., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Ambarella, Inc. (Nasdaq: AMBA), an AI vision silicon company, today announced financial results for
About this update from Ambarella, Inc.
[{"type":"text","content":"SANTA CLARA, Calif., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Ambarella, Inc. (Nasdaq: AMBA), an AI vision silicon company, today announced financial results for its second quarter of fiscal year 2021 ended July 31, 2020.\n Revenue for the second quarter of fiscal 2021 was $50.1 million, down 11.2% from $56.4 million in the same period in fiscal 2020. For the six months ended July 31, 2020, revenue was $104.8 million, up 1.1% from $103.6 million for the six months ended July 31, 2019.Gross margin under U.S. generally accepted accounting principles (GAAP) for the second quarter of fiscal 2021 was 61.8%, compared with 57.5% for the same period in fiscal 2020. For the six months ended July 31, 2020, GAAP gross margin was 60.1%, compared with 58.2% for the six months ended July 31, 2019.GAAP net loss for the second quarter of fiscal 2021 was $14.8 million, or loss per diluted ordinary share of $0.43, compared with GAAP net loss of $10.2 million, or loss per diluted ordinary share of $0.31, for the same period in fiscal 2020. GAAP net loss for the six months ended July 31, 2020 was $30.2 million, or loss per diluted ordinary share of $0.88. This compares with GAAP net loss of $27.5 million, or loss per diluted ordinary share of $0.84, for the six months ended July 31, 2019. Financial results on a non-GAAP basis for the second quarter of fiscal 2021 are as follows: Gross margin on a non-GAAP basis for the second quarter of fiscal 2021 was 62.4%, compared with 58.1% for the same period in fiscal 2020. For the six months ended July 31, 2020, non-GAAP gross margin was 60.7%, compared with 58.8% for the six months ended July 31, 2019.Non-GAAP net income for the second quarter of fiscal 2021 was $2.1 million, or earnings per diluted ordinary share of $0.06. This compares with adjusted non-GAAP net income of $7.6 million, or earnings per diluted ordinary share of $0.22, for the same period in fiscal 2020. Non-GAAP net income for the six months ended July 31, 2020 was $3.4 million, or earnings per diluted ordinary share of $0.10. This compares with adjusted non-GAAP net income of $7.5 million, or earnings per diluted ordinary share of $0.22, for the six months ended July 31, 2019. Based on information available as of today, Ambarella is offering the following guidance for the third quarter of fiscal year 2021, ending October 31, 2020: Revenue is e...