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Ambarella, Inc. Announces Third Quarter Fiscal Year 2023 Financial Results
SANTA CLARA, Calif., Dec. 01, 2022 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an edge AI vision silicon company, today announced financial results
About this update from Ambarella, Inc.
[{"type":"text","content":"SANTA CLARA, Calif., Dec. 01, 2022 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an edge AI vision silicon company, today announced financial results for its third quarter of fiscal year 2023 ended October 31, 2022. Revenue for the third quarter of fiscal 2023 was $83.1 million, down 10% from $92.2 million in the same period in fiscal 2022. For the nine months ended October 31, 2022, revenue was $254.3 million, up 5% from $241.6 million for the nine months ended October 31, 2021.Gross margin under U.S. generally accepted accounting principles (GAAP) for the third quarter of fiscal 2023 was 62.2%, compared with 62.5% for the same period in fiscal 2022. For the nine months ended October 31, 2022, GAAP gross margin was 62.6%, compared with 62.4% for the nine months ended October 31, 2021.GAAP net loss for the third quarter of fiscal 2023 was $19.8 million, or loss per diluted ordinary share of $0.51, compared with GAAP net profit of $0.8 million, or earnings per diluted ordinary share of $0.02, for the same period in fiscal 2022. GAAP net loss for the nine months ended October 31, 2022 was $54.3 million, or loss per diluted ordinary share of $1.42. This compares with GAAP net loss of $17.2 million, or loss per diluted ordinary share of $0.47, for the nine months ended October 31, 2021. Financial results on a non-GAAP basis for the third quarter of fiscal 2023 are as follows: Gross margin on a non-GAAP basis for the third quarter of fiscal 2023 was 63.5%, compared with 63.1% for the same period in fiscal 2022. For the nine months ended October 31, 2022, non-GAAP gross margin was 64.0%, compared with 62.9% for the nine months ended October 31, 2021.Non-GAAP net income for the third quarter of fiscal 2023 was $9.5 million, or earnings per diluted ordinary share of $0.24. This compares with non-GAAP net income of $22.2 million, or earnings per diluted ordinary share of $0.57, for the same period in fiscal 2022. Non-GAAP net income for the nine months ended October 31, 2022 was $34.1 million, or earnings per diluted ordinary share of $0.88. This compares with non-GAAP net income of $44.3 million, or earnings per diluted ordinary share of $1.15, for the nine months ended October 31, 2021. Based on information available as of today, Ambarella is offering the following guidance for the fourth quarter of fiscal year 2023, ending Janua...