Ambarella, Inc. Announces Third Quarter Fiscal Year 2024

Ambarella, Inc. Announces Third Quarter Fiscal Year 2024 Financial Results

AMBARELLA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands)

	October 31,			January 31,
		2023			2023

ASSETS
Current assets:
Cash and cash equivalents	$	143,787		$	113,541
Marketable debt securities		78,549			93,322
Accounts receivable, net		22,968			51,987
Inventories		30,783			40,486
Restricted cash		7			8
Prepaid expenses and other current assets		3,728			5,288
Total current assets		279,822			304,632

Property and equipment, net		10,917			11,814
Deferred tax assets, non-current		22,952			19,276
Intangible assets, net		58,805			58,497
Operating lease right-of-use assets, net		5,760			8,339
Goodwill		303,625			303,625
Other non-current assets		2,748			4,012

Total assets	$	684,629		$	710,195

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable		9,298			17,845
Accrued and other current liabilities		57,991			56,655
Operating lease liabilities, current		3,553			3,539
Income taxes payable		2,391			4,112
Deferred revenue, current		2,596			1,311
Total current liabilities		75,829			83,462

Operating lease liabilities, non-current		2,316			5,097
Other long-term liabilities		14,696			15,548

Total liabilities		92,841			104,107

Shareholders' equity:
Preference shares		—			—
Ordinary shares		18			18
Additional paid-in capital		667,313			572,076
Accumulated other comprehensive loss		(1,219	)		(492	)
Retained earnings (accumulated deficit)		(74,324	)		34,486
Total shareholders’ equity		591,788			606,088

Total liabilities and shareholders' equity	$	684,629		$	710,195