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Ambarella ™ Ambarella , Inc. Announces Second Quarter Fiscal Year 2022 Financial Results August 31 , 2021 SANTA CLARA , Calif . , Aug. 31 , 2021 ( GLOBE NEWSWIRE ) -- Ambarella , Inc. ( NASDAQ : AMBA ) , an Al vision silicon company , today announced financial results for its second quarter of fiscal year 2022 ended July 31 , 2021 . • Revenue for the second quarter of fiscal 2022 was $ 79.3 million , up 58 % from $ 50.1 million in the same period in fiscal 2021. For the six months ended July 31 , 2021 , revenue was $ 149.5 million , up 43 % from $ 104.8 million for the six months ended July 31 , 2020 . • Gross margin under U.S. generally accepted accounting principles ( GAAP ) for the second quarter of fiscal 2022 was 62.3 % , compared with 61.8 % for the same period in fiscal 2021. For the six months ended July 31 , 2021 , GAAP gross margin was 62.3 % , compared with 60.1 % for the six months ended July 31 , 2020 . • GAAP net loss for the second quarter of fiscal 2022 was $ 7.2 million , or loss per diluted ordinary share of $ 0.20 , compared with GAAP net loss of $ 14.8 million , or loss per diluted ordinary share of $ 0.43 , for the same period in fiscal 2021. GAAP net loss for the six months ended July 31 , 2021 was $ 18.0 million , or loss per diluted ordina share of $ 0.50 . This compares with GAAP net loss of $ 30.2 million , or loss per diluted ordinary share of $ 0.88 , for the six months ended July 31 , 2020 . Financial results on a non - GAAP basis for the second quarter of fiscal 2022 are as follows : • Gross margin on a non - GAAP basis for the second quarter of fiscal 2022 was 62.8 % , compared with 62.4 % for the same period in fiscal 2021. For the six months ended July 31 , 2021 , non - GAAP gross margin was 62.8 % , compared with 60.7 % for the six months ended July 31 , 2020 . • Non - GAAP net income for the second quarter of fiscal 2022 was $ 13.1 million , or earnings per diluted ordinary share of $ 0.35 . This compares with non - GAAP net income of $ 2.1 million , or earnings per diluted ordinary share of $ 0.06 , for the same period in fiscal 2021. Non - GAAP net income for the six months ended July 31 , 2021 was $ 22.1 million , or earnings per diluted ordinary share of $ 0.58 . This compares with non - GAAP net income of $ 3.4 million , or earnings per diluted ordinary share of $ 0.10 , for the six months ended July 31 , 2020 . Based on information available as of today , Ambarella is offering the following guidance for the third quarter of fiscal year 2022 , ending October 31 , 2021 : • Revenue is expected to be between $ 88.0 million and $ 92.0 million . • Gross margin on a non - GAAP basis is expected to be between 61.0 % and 63.0 % . • Operating expenses on a non - GAAP basis are expected to be between $ 36.0 million and $ 37.5 million . Ambarella reports gross margin , net income ( loss ) and earnings ( losses ) per share in accordance with GAAP and , additionally , on a non - GAAP basis . Non - GAAP financial information excludes the impact of stock - based compensation adjusted for the associated tax impact , which includes the effect of any benefits or shortfalls recognized . A reconciliation of the GAAP to non - GAAP gross margin , net income ( loss ) and earnings ( losses ) per share for the periods presented , as well as a description of the items excluded from the non - GAAP calculations , is included in the financial statements portion of this press release . Total cash , cash equivalents and marketable debt securities on hand at the end of the second quarter of fiscal 2022 was $ 449.2 million , compared with $ 435.5 million at the end of the prior quarter and $ 410.7 million at the end of the same quarter a year ago . " Our rapidly expanding AloT foundation has positioned us to achieve record revenue in F2022 , driven by new product cycles in existing markets and the expansion into new markets . The quality of our business is at its highest levels , with loT cameras , primarily security , and automotive , representing ~ 90 % of total Q2 revenue . We are capitalizing on this as demonstrated by the 450 basis point sequential increase in non - GAAP operating margin , reaching 16.9 % in Q2 , " said Fermi Wang , President and CEO . " We believe we experienced the worst of the wafer supply shortfall from the Texas freeze in Q2 , and we are seeing a 2H recovery from this event . While the significant industry wide supply - chain challenges persist , we expect F2022 to represent a major inflection in our business , and we are excited about our future . " Stock Repurchase During the second quarter of fiscal year 2022 , Ambarella's Board of Directors approved an extension of the prior $ 50.0 million repurchase program for an additional twelve months ending June 30 , 2022. The company did not repurchase shares in the second quarter of fiscal 2022. As of today , there are approximately $ 49.0 million available for repurchases under the program . The repurchase program does not obligate the company to acquire any