With respect to its financial results for the fourth quarter and fiscal year 2016, the company has provided below reconciliations between its non-GAAP financial measures to its most directly comparable GAAP financial measures. With respect to the company’s expectations for the first quarter of fiscal year 2017, a reconciliation of non-GAAP gross margin and non-GAAP net income guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability and low visibility with respect to the charges excluded from this non-GAAP measure. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
| AMBARELLA, INC. | ||||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| (in thousands, except share and per share data) | ||||||||||||||||
| (unaudited) | ||||||||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| Revenue | $ | 67,967 | $ | 64,700 | $ | 316,373 | $ | 218,278 | ||||||||
| Cost of revenue | 24,651 | 23,255 | 111,029 | 79,142 | ||||||||||||
| Gross profit | 43,316 | 41,445 | 205,344 | 139,136 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 23,442 | 15,983 | 82,927 | 57,978 | ||||||||||||
| Selling, general and administrative | 10,768 | 8,343 | 37,738 | 29,297 | ||||||||||||
| Total operating expenses | 34,210 | 24,326 | 120,665 | 87,275 | ||||||||||||
| Income from operations | 9,106 | 17,119 | 84,679 | 51,861 | ||||||||||||
| Other income | 207 | 47 | 530 | 175 | ||||||||||||
| Income before income taxes | 9,313 | 17,166 | 85,209 | 52,036 | ||||||||||||
| Provision for income taxes | 4,217 | (508 | ) | 8,701 | 1,465 | |||||||||||
| Net income | $ | 5,096 | $ | 17,674 | $ | 76,508 | $ | 50,571 | ||||||||
| Net income per share attributable to ordinary shareholders: | ||||||||||||||||
| Basic | $ | 0.16 | $ | 0.58 | $ | 2.42 | $ | 1.70 | ||||||||
| Diluted | $ | 0.15 | $ | 0.53 | $ | 2.27 | $ | 1.57 | ||||||||
| Weighted-average shares used to compute net income per share | ||||||||||||||||
| attributable to ordinary shareholders: | ||||||||||||||||
| Basic | 32,105,797 | 30,573,724 | 31,633,936 | 29,742,653 | ||||||||||||
| Diluted | 33,747,273 | 33,074,033 | 33,755,709 | 32,278,127 | ||||||||||||
