Ambarella Q2 revenue slightly beats estimates on record edge AI sales; forecasts growth
AMBA•Outlook
Ambarella expects Q3 revenue between $115 million and $124 million.
The company sees Q3 non-GAAP gross margin between 59.0% and 60.0%.
Ambarella said strategic initiatives are expanding its market reach and serviceable market forecast.
Result drivers
- Edge AI growth - The company said record edge AI revenue reflected balanced sequential growth in Auto and IoT markets, with strong growth from 5nm CV75 and CV72 AI SoCs.
- New products and partnerships - Ambarella cited progress on strategic priorities, including the launch of the X7 AI Accelerator and new agreements with Macnica and CapGemini, as supporting market expansion.
Quarterly results
Ambarella's fiscal Q2 revenue rose 13% year over year, slightly beating analyst expectations.
Non-GAAP net income for Q2 increased from a year ago.
The company reported record edge AI revenue, with growth in Auto and IoT markets.
