Ambarella, Inc. Announces Third Quarter Fiscal Year 2022 Financial Results

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[{"type":"text","content":"SANTA CLARA, Calif., Nov. 30, 2021 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an AI vision silicon company, today announced financial results for its third quarter of fiscal year 2022 ended October 31, 2021. Revenue for the third quarter of fiscal 2022 was $92.2 million, up 64% from $56.1 million in the same period in fiscal 2021. For the nine months ended October 31, 2021, revenue was $241.6 million, up 50% from $160.8 million for the nine months ended October 31, 2020.Gross margin under U.S. generally accepted accounting principles (GAAP) for the third quarter of fiscal 2022 was 62.5%, compared with 62.0% for the same period in fiscal 2021. For the nine months ended October 31, 2021, GAAP gross margin was 62.4%, compared with 60.8% for the nine months ended October 31, 2020.GAAP net profit for the third quarter of fiscal 2022 was $0.8 million, or earnings per diluted ordinary share of $0.02, compared with GAAP net loss of $17.1 million, or loss per diluted ordinary share of $0.49, for the same period in fiscal 2021. GAAP net loss for the nine months ended October 31, 2021 was $17.2 million, or loss per diluted ordinary share of $0.47. This compares with GAAP net loss of $47.3 million, or loss per diluted ordinary share of $1.37, for the nine months ended October 31, 2020. Financial results on a non-GAAP basis for the third quarter of fiscal 2022 are as follows: Gross margin on a non-GAAP basis for the third quarter of fiscal 2022 was 63.1%, compared with 62.7% for the same period in fiscal 2021. For the nine months ended October 31, 2021, non-GAAP gross margin was 62.9%, compared with 61.4% for the nine months ended October 31, 2020.Non-GAAP net income for the third quarter of fiscal 2022 was $22.2 million, or earnings per diluted ordinary share of $0.57. This compares with non-GAAP net income of $3.3 million, or earnings per diluted ordinary share of $0.09, for the same period in fiscal 2021. Non-GAAP net income for the nine months ended October 31, 2021 was $44.3 million, or earnings per diluted ordinary share of $1.15. This compares with non-GAAP net income of $6.7 million, or earnings per diluted ordinary share of $0.19, for the nine months ended October 31, 2020. The acquisition of Oculii Corp. was completed on November 5, 2021 and its results of operation will be incorporated into Ambarella’s results beginning a...

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