Ambarella, Inc. Announces Second Quarter Fiscal Year 2024 Financial Results
The difference between GAAP and non-GAAP gross margin was 2.7% and 1.4%, or $1.6 million and $1.1 million, for the three months ended July 31, 2023 and July 31, 2022, respectively. The difference between GAAP and non-GAAP gross margin was 2.7% and 1.3%, or $3.3 million and $2.2 million, for the six months ended July 31, 2023 and July 31, 2022, respectively. The differences were due to the effect of stock-based compensation and the amortization of acquisition-related costs.
AMBARELLA, INC. |
RECONCILIATION OF GAAP TO NON-GAAP DILUTED EARNINGS (LOSSES) PER SHARE |
(in thousands, except share and per share data) | | | | | | | | | | | |
Three Months Ended July 31, | |
Six Months Ended July 31, | | | |
2023 | | | |
2022 | | | |
2023 | | | |
2022 | | | |
(unaudited) | GAAP net loss | | $ | (31,198 | ) | | $ | (23,650 | ) | | $ | (67,100 | ) | | $ | (34,472 | ) | | | | | | | | | | Non-GAAP adjustments: | | | | | | | | | Stock-based compensation expense | | | 28,122 | | | | 26,909 | | | | 55,387 | | | | 53,950 | | Acquisition-related costs | | | 1,277 | | | | 1,279 | | | | 2,554 | | | | 2,572 | | Income tax effect | | | (4,237 | ) | | | 3,075 | | | | (2,904 | ) | | | 2,629 | | Non-GAAP net income (loss) | | $ | (6,036 | ) | | $ | 7,613 | | | $ | (12,063 | ) | | $ | 24,679 | | | | | | | | | | | GAAP – diluted weighted average shares | | | 39,736,704 | | | | 38,258,341 | | | | 39,538,748 | | | | 37,986,839 | | Non-GAAP – diluted weighted average shares | | | 39,736,704 | | | | 38,809,422 | | | | 39,538,748 | | | | 38,905,976 | | | | | | | | | | | GAAP – diluted net loss per share | | $ | (0.79 | ) | | $ | (0.62 | ) | | $ | (1.70 | ) | | $ | (0.91 | ) | Non-GAAP adjustments: | | | | | | | | | Stock-based compensation expense | | | 0.71 | | | | 0.71 | | | | 1.40 | | | | 1.42 | | Acquisition-related costs | | | 0.03 | | | | 0.03 | | | | 0.06 | | | | 0.07 | | Income tax effect | | | (0.10 | ) | | | 0.08 | | | | (0.07 | ) | | | 0.07 | | Effect of Non-GAAP – diluted weighted average shares | | | — | | | | — | | | | — | | | | (0.02 | ) | Non-GAAP – diluted net income (loss) per share | | $ | (0.15 | ) | | $ | 0.20 | | | $ | (0.31 | ) | | $ | 0.63 | |
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