The difference between GAAP and non-GAAP gross margin was 2.7% and 1.4%, or $1.6 million and $1.1 million, for the three months ended July 31, 2023 and July 31, 2022, respectively. The difference between GAAP and non-GAAP gross margin was 2.7% and 1.3%, or $3.3 million and $2.2 million, for the six months ended July 31, 2023 and July 31, 2022, respectively. The differences were due to the effect of stock-based compensation and the amortization of acquisition-related costs.

AMBARELLA, INC.
RECONCILIATION OF GAAP TO NON-GAAP DILUTED EARNINGS (LOSSES) PER SHARE
(in thousands, except share and per share data)
		Three Months Ended July 31,								Six Months Ended July 31,
			2023				2022				2023				2022
		(unaudited)
GAAP net loss		$	(31,198	)		$	(23,650	)		$	(67,100	)		$	(34,472	)
Non-GAAP adjustments:
Stock-based compensation expense			28,122				26,909				55,387				53,950
Acquisition-related costs			1,277				1,279				2,554				2,572
Income tax effect			(4,237	)			3,075				(2,904	)			2,629
Non-GAAP net income (loss)		$	(6,036	)		$	7,613			$	(12,063	)		$	24,679
GAAP – diluted weighted average shares			39,736,704				38,258,341				39,538,748				37,986,839
Non-GAAP – diluted weighted average shares			39,736,704				38,809,422				39,538,748				38,905,976
GAAP – diluted net loss per share		$	(0.79	)		$	(0.62	)		$	(1.70	)		$	(0.91	)
Non-GAAP adjustments:
Stock-based compensation expense			0.71				0.71				1.40				1.42
Acquisition-related costs			0.03				0.03				0.06				0.07
Income tax effect			(0.10	)			0.08				(0.07	)			0.07
Effect of Non-GAAP – diluted weighted average shares			—				—				—				(0.02	)
Non-GAAP – diluted net income (loss) per share		$	(0.15	)		$	0.20			$	(0.31	)		$	0.63

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