Ambarella, Inc. Announces Second Quarter Fiscal Year 2023 Financial Results

The difference between GAAP and non-GAAP gross margin was 1.4% and 0.5%, or $1.1 million and $0.4 million, for the three months ended July 31, 2022 and July 31, 2021, respectively. The difference between GAAP and non-GAAP gross margin was 1.3% and 0.5%, or $2.2 million and $0.7 million, for the six months ended July 31, 2022 and July 31, 2021, 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,
  2022  2021  2022  2021
  (unaudited)
GAAP net loss$(23,650) $(7,156) $(34,472) $(17,974)
        
Non-GAAP adjustments:       
Stock-based compensation expense 26,909   19,372   53,950   38,214 
Acquisition-related costs 1,279      2,572    
Income tax effect 3,075    932       2,629       1,831  
Non-GAAP net income $ 7,613     $ 13,148     $ 24,679     $ 22,071  
               
GAAP - diluted weighted average shares   38,258,341       36,442,536       37,986,839       36,191,420  
Non-GAAP - diluted weighted average shares   38,809,422       38,044,906       38,905,976       38,063,110  
               
GAAP - diluted net loss per share $ (0.62 )   $ (0.20 )   $ (0.91 )   $ (0.50 )
Non-GAAP adjustments:              
Stock-based compensation expense   0.71       0.53       1.42       1.06  
Acquisition-related costs   0.03             0.07        
Income tax effect   0.08       0.03       0.07       0.05  
Effect of Non-GAAP - diluted weighted average shares         (0.01 )     (0.02 )     (0.03 )
Non-GAAP - diluted net income per share $ 0.20     $ 0.35     $ 0.63     $ 0.58  
               

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