$AMBA
AMBARELLA INC

2014 Q2 Form 10-Q Financial Statement

#000119312514228397 Filed on June 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $40.92M $33.94M
YoY Change 20.57% 30.94%
Cost Of Revenue $15.33M $12.25M
YoY Change 25.12% 62.96%
Gross Profit $25.60M $21.69M
YoY Change 17.99% 17.86%
Gross Profit Margin 62.55% 63.91%
Selling, General & Admin $6.755M $5.157M
YoY Change 30.99% 28.12%
% of Gross Profit 26.39% 23.77%
Research & Development $12.91M $11.32M
YoY Change 14.11% -1.36%
% of Gross Profit 50.45% 52.17%
Depreciation & Amortization $299.0K $194.0K
YoY Change 54.12% 10.23%
% of Gross Profit 1.17% 0.89%
Operating Expenses $19.67M $16.47M
YoY Change 19.39% 6.3%
Operating Profit $5.927M $5.219M
YoY Change 13.57% 79.53%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $49.00K -$5.000K
YoY Change -1080.0% 150.0%
Pretax Income $5.976M $5.214M
YoY Change 14.61% 79.48%
Income Tax $716.0K $473.0K
% Of Pretax Income 11.98% 9.07%
Net Earnings $5.260M $4.741M
YoY Change 10.95% 82.21%
Net Earnings / Revenue 12.85% 13.97%
Basic Earnings Per Share $0.18 $0.17
Diluted Earnings Per Share $0.17 $0.16
COMMON SHARES
Basic Shares Outstanding 28.98M 27.06M shares
Diluted Shares Outstanding 31.76M 29.07M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.6M $104.3M
YoY Change 49.19% 74.71%
Cash & Equivalents $129.5M $104.3M
Short-Term Investments $26.10M
Other Short-Term Assets $4.200M $3.000M
YoY Change 40.0% 20.0%
Inventory $10.03M $9.325M
Prepaid Expenses
Receivables $21.31M $23.47M
Other Receivables $0.00 $0.00
Total Short-Term Assets $191.2M $140.1M
YoY Change 36.43% 78.06%
LONG-TERM ASSETS
Property, Plant & Equipment $2.950M $2.976M
YoY Change -0.87% 75.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.873M $2.054M
YoY Change -8.81% 8.11%
Total Long-Term Assets $6.083M $6.109M
YoY Change -0.43% 60.76%
TOTAL ASSETS
Total Short-Term Assets $191.2M $140.1M
Total Long-Term Assets $6.083M $6.109M
Total Assets $197.3M $146.2M
YoY Change 34.89% 77.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.41M $9.987M
YoY Change 34.25% 75.21%
Accrued Expenses $9.334M $11.18M
YoY Change -16.54% 38.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.01M $25.37M
YoY Change 10.42% 27.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.556M $1.470M
YoY Change 5.85% 5.0%
Total Long-Term Liabilities $1.556M $1.470M
YoY Change 5.85% 5.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.01M $25.37M
Total Long-Term Liabilities $1.556M $1.470M
Total Liabilities $29.56M $26.84M
YoY Change 10.17% 25.99%
SHAREHOLDERS EQUITY
Retained Earnings $51.32M $25.15M
YoY Change 104.07%
Common Stock $13.00K $12.00K
YoY Change 8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $167.7M $119.4M
YoY Change
Total Liabilities & Shareholders Equity $197.3M $146.2M
YoY Change 34.89% 77.26%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $5.260M $4.741M
YoY Change 10.95% 82.21%
Depreciation, Depletion And Amortization $299.0K $194.0K
YoY Change 54.12% 10.23%
Cash From Operating Activities $10.30M $3.216M
YoY Change 220.27% 312.31%
INVESTING ACTIVITIES
Capital Expenditures $224.0K $579.0K
YoY Change -61.31% 293.88%
Acquisitions
YoY Change
Other Investing Activities -$26.40M $0.00
YoY Change
Cash From Investing Activities -$26.60M -$579.0K
YoY Change 4494.13% 273.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.400M 1.146M
YoY Change 109.42% 816.8%
NET CHANGE
Cash From Operating Activities 10.30M 3.216M
Cash From Investing Activities -26.60M -579.0K
Cash From Financing Activities 2.400M 1.146M
Net Change In Cash -13.90M 3.783M
YoY Change -467.43% 404.4%
FREE CASH FLOW
Cash From Operating Activities $10.30M $3.216M
Capital Expenditures $224.0K $579.0K
Free Cash Flow $10.08M $2.637M
YoY Change 282.1% 316.59%

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CY2014Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--01-31
CY2014Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q2 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2014Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31763993 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
CY2014Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.09
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M10D
CY2014Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.120 pure
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6981000
CY2014Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
31.25
CY2014Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
10270000
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2110757 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
18.77
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28976339 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
10599 shares
CY2014Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.20
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
96133 shares
CY2014Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y18D
CY2014Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
292223 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
15431 shares
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
192864 shares
CY2014Q2 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods. Actual results could differ from those estimates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> On an ongoing basis, management evaluates its estimates and assumptions, including those related to (i)&#xA0;the collectability of accounts receivable; (ii)&#xA0;write down for excess and obsolete inventories; (iii)&#xA0;the estimated useful lives of long-lived assets; (iv)&#xA0;impairment of long-lived assets and financial instruments; (v)&#xA0;warranty obligations; (vi)&#xA0;the valuation of stock-based compensation and financial instruments; (vii)&#xA0;the probability of performance objectives achievement; (viii)&#xA0;the realization of tax assets and estimates of tax liabilities, including reserves for uncertain tax positions; and (ix)&#xA0;the recognition and disclosure of contingent liabilities. These estimates and assumptions are based on historical experience and on various other factors which the Company believes to be reasonable under the circumstances. The company may engage third-party valuation specialists to assist with estimates related to the valuation of financial instruments and assets associated with various contractual arrangements. Such estimates often require the selection of appropriate valuation methodologies and significant judgment. Actual results could differ from these estimates under different assumptions or circumstances.</p> </div>
CY2014Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2434000
CY2014Q2 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-14000
CY2014Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
655502 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
21395 shares
CY2014Q2 us-gaap Revenues
Revenues
40921000
CY2014Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-530000
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5268000
CY2014Q2 us-gaap Gross Profit
GrossProfit
25596000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5976000
CY2014Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1000
CY2014Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
30000
CY2014Q2 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
126000
CY2014Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
134000
CY2014Q2 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-43000
CY2014Q2 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
274000
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
8000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5258000
CY2014Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
3000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
5927000
CY2014Q2 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
27306000
CY2014Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2468000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
49000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
5260000
CY2014Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-418000
CY2014Q2 us-gaap Available For Sale Securities Change In Net Unrealized Holding Gain Loss
AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLoss
8000
CY2014Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
224000
CY2014Q2 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
905000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
19669000
CY2014Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
104000
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6755000
CY2014Q2 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
274000
CY2014Q2 us-gaap Depreciation
Depreciation
299000
CY2014Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
7000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2874000
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2874000
CY2014Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-13914000
CY2014Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1300000
CY2014Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-26618000
CY2014Q2 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1639000
CY2014Q2 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
178000
CY2014Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
5087000
CY2014Q2 us-gaap Cost Of Revenue
CostOfRevenue
15325000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12914000
CY2014Q2 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
2000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
716000
CY2014Q2 amba Additional Undistributed Earnings Allocated To Ordinary Shareholders
AdditionalUndistributedEarningsAllocatedToOrdinaryShareholders
CY2014Q2 amba Net Income Available To Ordinary Shareholders Basic
NetIncomeAvailableToOrdinaryShareholdersBasic
5258000
CY2014Q2 amba Weighted Average Number Of Ordinary Shares Outstanding
WeightedAverageNumberOfOrdinarySharesOutstanding
28986938 shares
CY2014Q2 amba Proceeds From Exercise Of Stock Options And Warrants And Employee Stock Purchase Plan Withholding Net Of Repurchase Of Stock Options
ProceedsFromExerciseOfStockOptionsAndWarrantsAndEmployeeStockPurchasePlanWithholdingNetOfRepurchaseOfStockOptions
2160000
CY2014Q2 amba Share Based Compensation Arrangement Exercisable Options Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementExercisableOptionsWeightedAverageRemainingContractualTerm
P5Y5M5D
CY2014Q2 amba Cash Equivalents Treatment
CashEquivalentsTreatment
Highly liquid debt securities and considers investments with original maturities of less than three months at the time of purchase to be cash equivalents
CY2014Q2 amba Marketable Securities Treatment
MarketableSecuritiesTreatment
Investments with highly liquid and original maturities at the time of purchase greater than three months are considered as marketable securities

Files In Submission

Name View Source Status
0001193125-14-228397-index-headers.html Edgar Link pending
0001193125-14-228397-index.html Edgar Link pending
0001193125-14-228397.txt Edgar Link pending
0001193125-14-228397-xbrl.zip Edgar Link pending
amba-20140430.xml Edgar Link completed
amba-20140430.xsd Edgar Link pending
amba-20140430_cal.xml Edgar Link unprocessable
amba-20140430_def.xml Edgar Link unprocessable
amba-20140430_lab.xml Edgar Link unprocessable
amba-20140430_pre.xml Edgar Link unprocessable
d715791d10q.htm Edgar Link pending
d715791dex311.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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