Ambarella (AMBA) Tops Q1 EPS by 5c; Guides Q2 Revenues Below the Street
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Ambarella, Inc. Announces First Quarter Fiscal Year 2024 Financial Results
May 30, 2023 4:05 PM EDTSANTA CLARA, Calif., May 30, 2023 (GLOBE NEWSWIRE) -- Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, today announced financial results for its first quarter of fiscal year 2024 ended April 30, 2023.
Revenue for the first quarter of fiscal 2024 was $62.1 million, down 31% from $90.3 million in the same period in fiscal 2023.Gross margin under U.S. generally accepted accounting principles (GAAP) for the first quarter of fiscal 2024 was 60.4%, compared with 62.6% for the same period in fiscal 2023.GAAP net loss for the first quarter of fiscal 2024 was $35.9 million, or loss per... More