CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except share and per share data)(unaudited) Three Months Ended January 31, Twelve Months Ended January 31, 2025 2024 2025 2024 Revenue $84,015 $51,616 $284,865 $226,474 Cost of revenue 33,634 20,763 112,535 89,657 Gross profit 50,381 30,853 172,330 136,817 Operating expenses: Research and development 56,823 51,992 226,109 215,052 Selling, general and administrative 18,911 20,575 72,816 76,325 Total operating expenses 75,734 72,567 298,925 291,377 Loss from operations (25,353) (41,714) (126,595) (154,560) Other income, net 2,360 2,107 8,867 6,030 Loss before income taxes (22,993) (39,607) (117,728) (148,530) Provision (benefit) for income taxes (2,759) 21,000 (602) 20,887 Net loss $(20,234) $(60,607) $(117,126) $(169,417) Net loss per share attributable to ordinary shareholders: Basic $(0.48) $(1.50) $(2.84) $(4.25)Diluted $(0.48) $(1.50) $(2.84) $(4.25)Weighted-average shares used to compute net loss per share attributable to ordinary shareholders: Basic 41,828,944 40,384,743 41,303,287 39,878,872 Diluted 41,828,944 40,384,743 41,303,287 39,878,872 The following tables present details of stock-based compensation, acquisition-related costs and restructuring expense included in each functional line item in the consolidated statements of operations above: Three Months Ended January 31, Twelve Months Ended January 31, 2025 2024 2025 2024 (unaudited, in thousands)Stock-based compensation: Cost of revenue$931 $647 $3,270 $3,341 Research and development 18,372 17,950 73,025 72,759 Selling, general and administrative 8,245 9,923 31,748 35,216 Total stock-based compensation$27,548 $28,520 $108,043 $111,316 Three Months Ended January 31, Twelve Months Ended January 31, 2025 2024 2025 2024 (unaudited, in thousands)Acquisition-related costs: Cost of revenue$757 $757 $3,028 $3,028 Research and development — — — — Selling, general and administrative 456 520 2,016 2,080 Total acquisition-related costs$1,213 $1,277 $5,044 $5,108 Three Months Ended January 31, Twelve Months Ended January 31, 2025 2024 2025 2024 (unaudited, in thousands)Restructuring expense: Cost of revenue$— $— $— $66 Research and development — 36 — 708 Selling, general and administrative — 68 — 182 Total restructuring expense$— $104 $— $956 The difference between GAAP and non-GAAP gross margin was 2.0% and 2.7%, or $1.7 million and $1.4 million, for the three months ended January 31, 2025 and 2024, respectively.
RECONCILIATION OF GAAP TO NON-GAAP DILUTED EARNINGS (LOSSES) PER SHARE(in thousands, except share and per share data) Three Months Ended January 31, Twelve Months Ended January 31, 2025 2024 2025 2024 (unaudited)GAAP net loss$(20,234) $(60,607) $(117,126) $(169,417) Non-GAAP adjustments: Stock-based compensation expense 27,548 28,520 108,043 111,316 Acquisition-related costs 1,213 1,277 5,044 5,108 Restructuring expense — 104 — 956 Income tax effect (3,760) 20,881 (2,744) 18,971 Non-GAAP net income (loss)$4,767 $(9,825) $(6,783) $(33,066) GAAP - diluted weighted average shares 41,828,944 40,384,743 41,303,287 39,878,872 Non-GAAP - diluted weighted average shares 42,533,654 40,384,743 41,303,287 39,878,872 GAAP - diluted net loss per share$(0.48) $(1.50) $(2.84) $(4.25)Non-GAAP adjustments: Stock-based compensation expense 0.66 0.71 2.62 2.79 Acquisition-related costs 0.03 0.03 0.12 0.13 Restructuring expense — — — 0.02 Income tax effect (0.09) 0.52 (0.06) 0.48 Effect of Non-GAAP - diluted weighted average shares (0.01) — — — Non-GAAP - diluted net income (loss) per share$0.11 $(0.24) $(0.16) $(0.83) AMBARELLA, INC.
Based on information available as of today, Ambarella is offering the following guidance for the first quarter of fiscal year 2026, ending April 30, 2025: Revenue is expected to be between $81.0 million and $87.0 millionGross margin on a non-GAAP basis is expected to be between 61.0% and 62.5%Non-GAAP operating expenses are expected to be between $50.0 million and $53.0 million Ambarella reports gross margin, net income (loss) and earnings (losses) per share in accordance with GAAP and, additionally, on a non-GAAP basis.
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