With respect to its financial results for the first quarter of fiscal year 2024, the company has provided below reconciliations of its non-GAAP financial measures to its most directly comparable GAAP financial measures. With respect to the company’s expectations for the second quarter of fiscal year 2024, a reconciliation of non-GAAP gross margin and non-GAAP operating expenses guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability and low visibility with respect to the charges excluded from these non-GAAP measures. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
| AMBARELLA, INC. | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (in thousands, except share and per share data) | ||||||||
| (unaudited) | ||||||||
| Three Months Ended April 30, | ||||||||
| 2023 | 2022 | |||||||
| Revenue | $ | 62,142 | $ | 90,305 | ||||
| Cost of revenue | 24,623 | 33,758 | ||||||
| Gross profit | 37,519 | 56,547 | ||||||
| Operating expenses: | ||||||||
| Research and development | 54,441 | 46,690 | ||||||
| Selling, general and administrative | 18,620 | 20,355 | ||||||
| Total operating expenses | 73,061 | 67,045 | ||||||
| Loss from operations | (35,542 | ) | (10,498 | ) | ||||
| Other income, net | 1,286 | 86 | ||||||
| Loss before income taxes | (34,256 | ) | (10,412 | ) | ||||
| Provision for income taxes | 1,646 | 410 | ||||||
| Net loss | $ | (35,902 | ) | $ | (10,822 | ) | ||
| Net loss per share attributable to ordinary shareholders: | ||||||||
| Basic | $ | (0.91 | ) | $ | (0.29 | ) | ||
| Diluted | $ | (0.91 | ) | $ | (0.29 | ) | ||
| Weighted-average shares used to compute net loss per share attributable to ordinary shareholders: | ||||||||
| Basic | 39,340,791 | 37,715,338 | ||||||
| Diluted | 39,340,791 | 37,715,338 | ||||||
