Ambarella, Inc. Announces Third Quarter Fiscal Year 2021 Financial Results
The following table presents details of stock-based compensation expense included in each functional line item in the condensed consolidated statements of operations above:
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Three Months Ended October 31, | |
Nine Months Ended October 31, | | | |
2020 | | |
2019 | | |
2020 | | |
2019 | | | | | |
(unaudited, in thousands) | | Stock-based compensation: | | | | | | | | | Cost of revenue | $ | 368 | | $ | 335 | | $ | 981 | | $ | 922 | | Research and development | | 11,496 | | | 10,601 | | | 31,402 | | | 31,306 | | Selling, general and administrative | | 7,113 | | | 6,372 | | | 19,024 | | | 17,740 | | | | | | | | | | | Total stock-based compensation | $ | 18,977 | | $ | 17,308 | | $ | 51,407 | | $ | 49,968 | | | | | | | | | |
The difference between GAAP and non-GAAP gross margin was 0.7% and 0.5%, or $368,000 and $335,000, for the three months ended October 31, 2020 and 2019, respectively. The difference between GAAP and non-GAAP gross margin was 0.6% and 0.6%, or $981,000 and $922,000, for the nine months ended October 31, 2020 and 2019, respectively. The differences were due to the effect of stock-based compensation.
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AMBARELLA, INC. | |
RECONCILIATION OF GAAP TO NON-GAAP DILUTED EARNINGS (LOSSES) PER SHARE | |
(in thousands, except share and per share data) | | | | | | | | | | | |
Three Months Ended October 31, | |
Nine Months Ended October 31, | | | |
2020 | | | |
2019 | | | |
2020 | | | |
2019 | | | | | | |
(unaudited) | | GAAP net loss | $ | (17,078 | ) | | $ | (4,309 | ) | | $ | (47,297 | ) | | $ | (31,811 | ) | | | | | | | | | | | Non-GAAP adjustments: | | | | | | | | | Stock-based compensation expense | | 18,977 | | | | 17,308 | | | | 51,407 | | | | 49,968 | | | Income tax effect | | 1,407 | | | | (1,737 | ) | | | 2,605 | | | | 634 | | | Non-GAAP net income | $ | 3,306 | | | $ | 11,262 | | | $ | 6,715 | | | $ | 18,791 | | | | | | | | | | | | GAAP - diluted weighted average shares | | 34,819,880 | | | | 33,304,171 | | | | 34,460,172 | | | | 32,885,729 | | | Non-GAAP - diluted weighted average shares | | 35,801,017 | | | | 34,789,673 | | | | 35,469,263 | | | | 34,052,772 | | | | | | | | | | | | GAAP - diluted net loss per share | $ | (0.49 | ) | | $ | (0.13 | ) | | $ | (1.37 | ) | | $ | (0.97 | ) | | Non-GAAP adjustments: | | | | | | | | | Stock-based compensation expense | | 0.55 | | | | 0.52 | | | | 1.49 | | | | 1.52 | | | Income tax effect | | 0.04 | | | | (0.05 | ) | | | 0.08 | | | | 0.02 | | | Effect of Non-GAAP - diluted weighted average shares | | (0.01 | ) | | | (0.02 | ) | | | (0.01 | ) | | | (0.02 | ) | | Non-GAAP - diluted net income per share | $ | 0.09 | | | $ | 0.32 | | | $ | 0.19 | | | $ | 0.55 | | | | | | | | | | |
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