Ambarella, Inc. Announces Second Quarter Fiscal Year 2025 Financial Results

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[{"type":"text","content":"SANTA CLARA, Calif., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, today announced financial results for its second quarter of fiscal year 2025 ended July 31, 2024. Revenue for the second quarter of fiscal 2025 was $63.7 million, up 3% from $62.1 million in the same period in fiscal 2024. For the six months ended July 31, 2024, revenue was $118.2 million, down 5% from $124.3 million for the six months ended July 31, 2023.Gross margin under U.S. generally accepted accounting principles (GAAP) for the second quarter of fiscal 2025 was 60.8%, compared with 61.9% for the same period in fiscal 2024. For the six months ended July 31, 2024, GAAP gross margin was 60.8%, compared with 61.1% for the six months ended July 31, 2023.GAAP net loss for the second quarter of fiscal 2025 was $34.9 million, or loss per diluted ordinary share of $0.85, compared with GAAP net loss of $31.2 million, or loss per diluted ordinary share of $0.79, for the same period in fiscal 2024. GAAP net loss for the six months ended July 31, 2024 was $72.8 million or loss per diluted ordinary share of $1.78. This compares with GAAP net loss of $67.1 million, or loss per diluted ordinary share of $1.70, for the six months ended July 31, 2023. Financial results on a non-GAAP basis for the second quarter of fiscal 2025 are as follows: Gross margin on a non-GAAP basis for the second quarter of fiscal 2025 was 63.3%, compared with 64.6% for the same period in fiscal 2024. For the six months ended July 31, 2024, non-GAAP gross margin was 63.3%, compared with 63.8% for the six months ended July 31, 2023.Non-GAAP net loss for the second quarter of fiscal 2025 was $5.5 million, or loss per diluted ordinary share of $0.13. This compares with non-GAAP net loss of $6.0 million, or loss per diluted ordinary share of $0.15, for the same period in fiscal 2024. Non-GAAP net loss for the six months ended July 31, 2024 was $16.0 million, or loss per diluted ordinary share of $0.39. This compares with non-GAAP net loss of $12.1 million, or loss per diluted ordinary share of $0.31, for the six months ended July 31, 2023. Based on information available as of today, Ambarella is offering the following guidance for the third quarter of fiscal year 2025, ending October 31, 2024: Revenue is expected to be between $77.0 million and $81.0...

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