News

Earnings Alert: Ambarella, Inc. (NASDAQ:AMBA)

Ambarella, Inc.  (NASDAQ:AMBA) notched a move of -3.62% to $38.31 in current trading session. The total traded 10189966 shares. The stock had closed at $39.75 on the previous day.

The stock made income 8.50M on sales of 288.20M. ROA sticks to 3.60% and ROI is 4.10%. Shares have moved -42.16% from its 1 Year high price and changed 3.26% from its 1 Year low price. The shares registered RSI (14) at 45.06 and ATR factor was seen at 1.46.”

Ambarella, Inc. is with Insider ownership of 4.70% and institutional ownership counts to 71.40%. Shares float is 31.84M and outstanding shares are at 34.95M. The float short is currently 22.08% and short ratio is 6.87.

Ambarella, Inc.  (NASDAQ: AMBA), a leading developer of low-power, HD and Ultra HD video compression, image processing, and computer vision solutions, today announced financial results for its second quarter of fiscal year 2019 ended July 31, 2018.

Revenue for the second quarter of fiscal 2019 was $62.5 million, down 12.8% from $71.6 million in the same period in fiscal 2018. For the six months ended July 31, 2018, revenue was $119.4 million, down 12.0% from $135.8 million for the six months ended July 31, 2017.

Gross margin under U.S. generally accepted accounting principles (GAAP) for the second quarter of fiscal 2019 was 60.8%, compared with 62.6% for the same period in fiscal 2018. For the six months ended July 31, 2018, GAAP gross margin was 61.1%, compared with 63.2% for the six months ended July 31, 2017.

GAAP net loss for the second quarter of fiscal 2019 was $6.9 million, or loss per diluted ordinary share of $0.21, compared with GAAP net income of $3.3 million, or earnings per diluted ordinary share of $0.10, for the same period in fiscal 2018. GAAP net loss for the six months ended July 31, 2018 was $16.9 million, or loss per diluted ordinary share of $0.51. This compares with GAAP net income of $5.9 million, or earnings per diluted ordinary share of $0.17, for the six months ended July 31, 2017.

Financial results on a non-GAAP basis for the second quarter of fiscal 2019 are as follows:

Gross margin on a non-GAAP basis for the second quarter of fiscal 2019 was 61.4%, compared with 63.0% for the same period in fiscal 2018. For the six months ended July 31, 2018, non-GAAP gross margin was 61.6%, compared with 63.6% for the six months ended July 31, 2017.

Non-GAAP net income for the second quarter of fiscal 2019 was $8.5 million, or earnings per diluted ordinary share of $0.25. This compares with adjusted non-GAAP net income of $19.3 million, or earnings per diluted ordinary share of $0.56, for the same period in fiscal 2018. Non-GAAP net income for the six months ended July 31, 2018 was $13.1 million, or earnings per diluted ordinary share of $0.38. This compares with adjusted non-GAAP net income of $34.5 million, or earnings per diluted ordinary share of $1.00, for the six months ended July 31, 2017.

Based on information available as of today, Ambarella is offering the following guidance for the third quarter of fiscal year 2019, ending October 31, 2018:

Revenue is expected to be between $55.5 million and $58.5 million

Gross margin on a non-GAAP basis is expected to be between 59.0% and 60.5%

Operating expenses on a non-GAAP basis are expected to be between $30.5 million and $32.0 million

Author Since: Jul 10, 2018