Ambarella — 2026Q3 財報

“Revenue for the second quarter of fiscal 2027 was $108.1 million, up 13.2% from $95.5 million in the same period in fiscal 2026.”

Second-quarter fiscal 2027 revenue was $108.1 million, up 13.2% from $95.5 million a year earlier.

“Non-GAAP net income for the second quarter of fiscal 2027 was $8.2 million, or earnings per diluted ordinary share of $0.18. This compares with non-GAAP net income of $6.4 million, or earnings per diluted ordinary share of $0.15, for the same period in fiscal 2026.”

Non-GAAP net income was $8.2 million, or $0.18 per diluted share, against $6.4 million, or $0.15, in the same quarter a year earlier.

“Gross margin on a non-GAAP basis for the second quarter of fiscal 2027 was 59.3%, compared with 60.5% for the same period in fiscal 2026.”

Non-GAAP gross margin fell to 59.3% from 60.5% a year earlier.

“we recognized a one-time $9.0 million reduction in our GAAP research and development expense on release of a deposit liability following the termination of a development project. Given the nature of this credit and that it is non-recurring, we excluded it from operating expenses for the purpose of reporting non-GAAP financial results.”

The GAAP results include a one-time $9.0 million reduction in R&D expense from releasing a deposit liability after a development project was terminated; the company excluded this non-recurring credit from its non-GAAP results.

“Our edge AI revenue reached record levels in Q2, with balanced sequential growth in Auto and IoT markets with very strong growth from our 5nm CV75 and CV72 AI SoCs.”

The CEO said edge AI revenue hit a record, with sequential growth in both Auto and IoT and very strong growth from the 5nm CV75 and CV72 AI SoCs.

“These include the introduction of our first stand-alone AI Accelerator, X7, and the execution of 7-year agreements to develop the indirect sales channel with both Macnica, a leading global technical distributor, and CapGemini, a leading global engineering and systems integration firm”

The release announces the company's first stand-alone AI accelerator, X7, and 7-year agreements with distributor Macnica and engineering firm CapGemini to build an indirect sales channel.

“Revenue is expected to be between $115.0 million and $124.0 million.”

Revenue guidance for the third fiscal quarter is $115.0 million to $124.0 million.

“Driven by a new record level of edge AI revenue, we reported fiscal Q2 revenue slightly above the mid-point of our guidance with non-GAAP EPS of $0.18”

The CEO said fiscal Q2 revenue came in slightly above the midpoint of guidance, with non-GAAP EPS of $0.18.

“Our new 5-year rolling SAM, from $8.5 billion in F2027 to $22.9 billion in F2032, represents a CAGR of about 20% with IoT markets now representing about 70% of the terminal year.”

Management's new rolling 5-year serviceable market forecast runs from $8.5 billion in fiscal 2027 to $22.9 billion in fiscal 2032, a CAGR of about 20%, with IoT now about 70% of the terminal year.

“Together these new edge infrastructure products, both AI SoCs and stand-alone AI Accelerators, represent the single most important reason for the upward revisions in our SAM.”

The CEO named the new edge infrastructure products, both AI SoCs and stand-alone AI accelerators, as the single most important reason for the higher forecast.

“Surging memory prices and scarcity of supply are impacting the entire industry. Related to this, we are providing significant assistance to customers who are attempting to create a wide variety of workarounds to the memory situation. Ambarella itself is also facing rising supply-chain costs, and we plan to pass these costs to our customers to maintain our long-term gross margin target of 59.0% to 62.0%.”

The CEO said surging memory prices and scarce supply are affecting the whole industry; Ambarella is helping customers work around the memory situation and plans to pass its own rising supply-chain costs on to customers to maintain its long-term gross margin target of 59.0% to 62.0%.

“Non-GAAP gross margin for fiscal Q2 was 59.3%, below the mid-point of our prior guidance range of 59.0% to 60.5%.”

The CFO said non-GAAP gross margin of 59.3% came in below the midpoint of the prior 59.0% to 60.5% guidance range.

“Meaningful revenue is expected in 2-3 years and will grow as we introduce new products for the market.”

Management expects meaningful revenue from the new indirect channel in 2-3 years.

“the 2nm CV8 SoC, which is expected to generate first production revenue in fiscal 2028”

The first semi-custom project, the 2nm CV8 SoC, is expected to produce first production revenue in fiscal 2028.

“We are anticipating favorable seasonality in our fiscal third quarter, with revenue in the range of $115.0 million to $124.0 million, or $119.5M at the midpoint. At the mid-point we expect our growth to be led by physical AI demand from the IoT market.”

The CFO guided fiscal third-quarter revenue to $115.0 million to $124.0 million on favorable seasonality, with growth at the midpoint led by physical AI demand from IoT.