Ambarella Inc (NASDAQ:AMBA) reported upbeat results for its fourth quarter and issued strong Q1 sales guidance.
The Santa Clara, Calif.-based technology company reported revenue for the fourth quarter of fiscal 2020 was $57.2 million, up 12% from $51.1 million in the same period in fiscal 2019. For the fiscal year ending January 31, 2020, revenue was $228.7 million, up 0.4% from $227.8 million for fiscal year ending January 31, 2019.
GAAP net loss for the fourth quarter of fiscal 2020 was $13.0 million, or loss per diluted ordinary share of $0.39, compared with a GAAP net loss of $4.5 million, or loss per diluted ordinary share of $0.14, for the same period in fiscal 2019. GAAP net loss for the fiscal year ending January 31, 2020 was $44.8 million, or loss per diluted ordinary share of $1.35. This compares with GAAP net loss of $30.4 million, or loss per diluted ordinary share of $0.93, for the prior year.
Total cash, cash equivalents and marketable securities on hand at the end of the fourth quarter of fiscal 2020 was $404.7 million, compared with $358.9 million at the end of the same quarter a year ago.
For the first quarter of fiscal 2021, revenue is expected to be between $52.0 million and $57.0 million
Gross margin on a non-GAAP basis is expected to be between 57.5% and 59.5% Non-GAAP operating expenses are expected to be between $33.0 million and $35.0 million
Shares in AMBA climbed $1.87, or 3.2%, in Wednesday’s first hour to $59.98.
