Ambarella Sees Q4 Revenue $50M-$53M Vs $50.35M Est.
Portfolio Pulse from Benzinga Newsdesk
Ambarella provides Q4 fiscal year 2024 revenue guidance of $50M-$53M, aligning with the $50.35M estimate. Non-GAAP gross margin is expected to be 62%-63%, with operating expenses between $45M-$48M. The company reports a strong cash position and anticipates returning to revenue growth in Fiscal 2025, driven by progress in AI SoCs and software development. CEO Fermi Wang expresses optimism about inventory reduction by customers and the upcoming demonstration of the CV3-AD685 SoC.
November 30, 2023 | 9:23 pm
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Ambarella expects Q4 FY2024 revenue of $50M-$53M, consistent with estimates, and projects growth in Fiscal 2025 with new AI SoC products.
Ambarella's guidance aligns with market estimates, which is likely to maintain investor confidence. The company's focus on AI SoC development and a strong cash position suggest positive growth prospects, potentially leading to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100