Ambarella reports gross margin, net income (loss) and earnings (losses) per share in accordance with GAAP
and, additionally, on a non-GAAP basis. Non-GAAP financial information excludes the impact of stock-based compensation, acquisition-related costs and restructuring
expense adjusted for the associated tax impact, which includes the effect of recognition or release of valuation allowances on deferred tax assets. A reconciliation of the GAAP to non-GAAP gross margin, net
income (loss) and earnings (losses) per share for the periods presented, as well as a description of the items excluded from the non-GAAP calculations, is included in the financial statements portion of this
press release.
Total cash, cash equivalents and marketable debt securities on hand at the end of the fourth quarter of fiscal 2024 was
$219.9 million, compared with $222.3 million at the end of the prior quarter and $206.9 million at the end of the same quarter a year ago.
We expect to return to revenue growth in fiscal year 2025, due to the strength of our AI products and the early actions we took to help our customers
navigate their excess inventory. Looking beyond, we aim to restore growth and profitability while continuing to drive our edge AI inference R&D focus, said Fermi Wang, President and CEO. In the last year our key achievements included
the continued ramp of our first 5 nanometer AI processor, CV5, which paves the way for our newer 5nm products. We sampled three new 5 nanometer AI processors; N1, CV72AQ and CV3-AD685, introduced our GenAI
edge strategy and built-out our CV3 platform with the ongoing commercialization of our autonomous driving software stack modules and our centrally processed HD radar perception software.
Quarterly Conference Call
Ambarella plans to hold a
conference call at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time today with Fermi Wang, President and Chief Executive Officer, and John Young, Chief Financial Officer, to discuss the fourth quarter of fiscal year 2024 results. A live and archived
webcast of the call will be available on Ambarellas website at http://www.ambarella.com/ for up to 30 days after the call.
About
Ambarella
Ambarellas products are used in a wide variety of human vision and edge AI applications, including video security, advanced driver
assistance systems (ADAS), electronic mirror, drive recorder, driver/cabin monitoring, autonomous driving and robotics applications. Ambarellas low-power systems-on-chip (SoCs) offer high-resolution video compression, advanced image and radar processing, and powerful deep neural network processing to enable intelligent perception, fusion and planning. For more
information, please visit www.ambarella.com.
Safe harbor statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements that are not historical facts and often can be identified by terms such as outlook,
projected, intends, will, estimates, anticipates, expects, believes, could, should, or similar expressions, including the guidance for the
first quarter of fiscal year 2025 ending April 30, 2024, and the comments of our CEO relating to our expectation of future revenue growth and longer-term