Free Research Report as Ambarella Reported Better Than Expected Results

LONDON, UK / ACCESSWIRE / July 5, 2018 / If you want access to our free earnings report on Ambarella, Inc. (NASDAQ: AMBA), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AMBA. The Company reported its first quarter fiscal 2019 operating and financial results on June 06, 2018. The video-compression chipmaker provided guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ambarella most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=AMBA

Earnings Highlights and Summary

For the first quarter of the fiscal year 2019, ended April 30, 2018, Ambarella’s revenues were $56.9 million, down 11.2% from $64.1 million in Q1 FY18. For the reported quarter, the Company’s revenues from its focus markets, IP security and automotive, grew on a y-o-y basis, while its revenues from drones, sports, and VR cameras declined compared to the year ago same period. Ambarella’s numbers beat analysts’ estimates of $56.2 million for Q1 FY19.

During Q1 FY19, Ambarella’s US GAAP gross margin was 61.3% compared to 63.9% in Q1 FY18. The Company’s non-GAAP gross margin was 61.8% in the reported quarter versus 64.3% in the year earlier comparable quarter.

For Q1 FY19, Ambarella recorded a GAAP net loss of $10.0 million, or $0.30 loss per diluted ordinary share, compared to a GAAP net income of $2.6 million, or $0.07 earnings per diluted ordinary share, in Q1 FY18.

Ambarella’s non-GAAP net income was $4.5 million, or $0.13 per diluted ordinary share, in Q1 FY19 compared to a non-GAAP net income of $15.3 million, or $0.44 per diluted ordinary share, in Q1 FY18. The Company’s earnings numbers exceeded Wall Street’s estimates of $0.09 per share.

Cash Matters

As of April 30, 2018, Ambarella’s total cash, cash equivalents, and marketable securities on hand balance was $414.1 million compared to $420.2 million at the end of Q1 FY18.

During Q1 FY19, Ambarella repurchased a total of 437,448 shares for a total consideration of approximately $20.6 million. Under the current $50 million repurchase program that was announced in June 2017 and which commenced on July 01, 2017, the Company has repurchased a total of 818,154 ordinary shares at an average price of $47.54, for a total cash consideration of approximately $38.9 million.

At the end of Q1 FY19, Ambarella’s total accounts receivable was $25.7 million, or 40 days sales outstanding, compared to $31.3 million, or 41 days sales outstanding, at the end of Q4 FY18.

Outlook

For the second quarter of the fiscal year 2019, ended July 31, 2018, Ambarella is forecasting revenues to be in the range of $60.0 million and $64.0 million. The Company is expecting non-GAAP gross margin to be between 59.0% and 61.0%. For the upcoming quarter, Ambarella is estimating operating expenses to be between $32.0 million and $33.5 million on a non-GAAP basis.

Stock Performance Snapshot

July 02, 2018 – At Monday’s closing bell, Ambarella’s stock slightly fell 0.29%, ending the trading session at $37.98.

Volume traded for the day: 525.60 thousand shares.

After last Monday’s close, Ambarella’s market cap was at $1.32 billion.

Price to Earnings (P/E) ratio was at 159.58.

The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry.

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