Ambarella, Inc. Sees Q3 Revenue $50M Vs $67.6M Est.
Portfolio Pulse from Happy Mohamed
Ambarella, Inc. has provided its Q3 2024 guidance, expecting revenues of around $50 million, which is lower than the estimated $67.6 million. The company's gross margin on a non-GAAP basis is expected to be between 62.0% and 64.0%, with operating expenses between $46.0 million and $49.0 million. The company's cash, cash equivalents, and marketable debt securities at the end of Q2 2024 were $216.5 million. The company's CEO, Fermi Wang, stated that the near-term environment is challenging due to customers reducing their inventory and weak end-market demand.
August 29, 2023 | 8:16 pm
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Ambarella's lower than expected Q3 2024 revenue guidance and challenging near-term environment could negatively impact its stock price in the short term.
Ambarella's Q3 2024 revenue guidance is significantly lower than the estimated $67.6 million, which could negatively impact investor sentiment and lead to a decrease in the company's stock price. Additionally, the company's CEO has highlighted challenges in the near-term environment, including customers reducing their inventory and weak end-market demand, which could further negatively impact the company's stock price.
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IMPORTANCE 80
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