AMBARELLA Reports Q2 Earnings Results for FY2024 on August 29, 2023
September 5, 2023
🌥️Earnings Overview
On August 29 2023, AMBARELLA ($NASDAQ:AMBA) reported their earnings results for Q2 of FY2024, ending July 31 2023. Total revenue for the quarter was USD 62.1 million, representing a decrease of 23.2% year-on-year. Net income was at USD -31.2 million, compared to -23.6 million in the same quarter of the previous year.
Market Price
On Tuesday, August 29th, 2023, AMBARELLA reported their second quarter earnings results for the fiscal year 2024. Investors reacted positively to the numbers and acted accordingly; AMBARELLA stock opened at $72.8 and closed at $75.8, up by 4.5% from last closing price of 72.5. This is a great indication of the company’s success and it is clear that AMBARELLA has the financial resources to continue to invest in their growing global operations.
Overall, AMBARELLA’s results for the second quarter of FY2024 demonstrate their continued commitment to financial success and growth. Investors have responded positively to the news and if the company continues to deliver these results, they could be in a position to outperform their competitors for years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ambarella. AMBARELLA_Reports_Q2_Earnings_Results_for_FY2024_on_August_29_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 290.68 | -98.01 | -33.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ambarella. AMBARELLA_Reports_Q2_Earnings_Results_for_FY2024_on_August_29_2023″>More…
| Operations | Investing | Financing |
| 32.56 | -107.3 | 5.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ambarella. AMBARELLA_Reports_Q2_Earnings_Results_for_FY2024_on_August_29_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 696.24 | 93.93 | 15.21 |
Key Ratios Snapshot
Some of the financial key ratios for Ambarella are shown below. AMBARELLA_Reports_Q2_Earnings_Results_for_FY2024_on_August_29_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.1% | -22.2% | -39.4% |
| FCF Margin | ROE | ROA |
| 6.8% | -11.8% | -10.3% |
Analysis
We at GoodWhale recently conducted an analysis of AMBARELLA‘s wellbeing, using our Star Chart. According to the chart, AMBARELLA has a high health score of 10/10 with regard to its cashflows and debt, indicating that it is capable to pay off debt and fund future operations. Further, AMBARELLA is strong in asset, and weak in terms of dividend, growth, and profitability. Ultimately, we have classified AMBARELLA as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given these results, we believe that investors who are looking for steady but reliable returns may be interested in investing in a company like AMBARELLA. Those who are looking for higher yields may want to look elsewhere, however. Ultimately, it is up to each investor to decide for themselves what type of security is best for them. More…
Peers
The company has a wide range of products that are used in various industries such as security, automotive, sports, and wearables. Ambarella Inc’s main competitors are Amtech Systems Inc, Qorvo Inc, AverLogic Technologies Inc.
– Amtech Systems Inc ($NASDAQ:ASYS)
Amtech Systems Inc is a global supplier of production equipment and services for the solar and semiconductor industries. The company has a market cap of 122.5M as of 2022 and a Return on Equity of 1.5%. Amtech’s products include silicon wafer handling equipment, thermal processing equipment, and related consumables used in the fabrication of solar cells, light-emitting diode (LED) chips and other semiconductor devices.
– Qorvo Inc ($NASDAQ:QRVO)
Qorvo Inc is a radio frequency chip company that provides radio frequency products for use in mobile, infrastructure, and aerospace/defense applications. The company has a market cap of $8.82 billion and a return on equity of 19.7%. Qorvo’s products are used in a variety of applications, including cell phones, base stations, WiFi, GPS, and satellite communications.
– AverLogic Technologies Inc ($TPEX:6198)
AverLogic Technologies Inc is a fabless semiconductor company that designs, develops, and markets high-performance mixed-signal integrated circuits (ICs). The company offers a broad range of IC solutions for the multimedia, data communications, and industrial markets. Its product portfolio includes video and audio processing ICs, video encoding and decoding ICs, video and audio output ICs, video input ICs, data conversion ICs, and interface ICs. AverLogic Technologies Inc is headquartered in Hsinchu, Taiwan.
Summary
AMBARELLA recently reported their earnings results for the second quarter of FY2024, showing a total revenue of USD 62.1 million and net income of USD -31.2 million. Despite the decrease in profitability, the stock price moved up on the same day. This may indicate that investors believe the company will be able to recover quickly and turn around their performance in the near future. There remains a potential for long-term growth in the company, although caution should be taken given the current uncertain macroeconomic environment.
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