🟢 At a Glance:
- 💰 Revenue: $54.6 million
- 🧨 Net Loss: $(35.2) million
- 💸 EPS: $(0.85) per share (Non-GAAP: $(0.46))
- 🏭 Gross Margin (GAAP): 60.6%
- 🔮 Q2 Revenue Guidance: $54–$58 million (flat as last week’s soda)
TL;DR: They burned cash, missed analyst revenue expectations, and still talked about AI like it’s saving them next quarter.
📉 Financial Breakdown
| Metric | Q1 FY25 | Q1 FY24 | YoY Change |
|---|---|---|---|
| Revenue | $54.6M | $62.1M | ▼ 12% |
| GAAP Net Loss | $(35.2)M | $(35.3)M | ≈ Flat |
| Non-GAAP Net Loss | $(18.9)M | $(22.3)M | 🟢 Improved |
| GAAP EPS | $(0.85) | $(0.90) | Slightly Better |
| Gross Margin | 60.6% | 62.0% | ▼ |
🔍 What Went Wrong?
- Revenue fell short of the Street’s expectations. Again.
- Still deeply loss-making — bleeding ~$35M on ~$55M sales. That’s a 🔥 burn rate.
- Automotive SoC revenue slowed due to macro weakness and slower CV
- deployments.
- Inventory remains high as they clear older parts.
🤖 But AI, Right?
Ambarella wants you to believe they are not just another fabless semi story.
“We continue to believe Ambarella is uniquely positioned to power the AI edge…”
Sure, but that AI edge is currently:
- Not profitable
- Not shipping in meaningful volume
- Not impressing investors who’ve already moved to Nvidia and AMD’s buffet line
🧪 Segment Hype (From Management)
- Automotive AI SoCs: “Design wins are coming.”
- Industrial computer vision: “Well positioned.”
- China biz? Recovering slowly, not in growth mode yet.
Basically, they’re
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