$AMBA
AMBARELLA INC

2019 Q2 Form 10-Q Financial Statement

#000156459019021998 Filed on June 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $47.19M $56.90M
YoY Change -17.07% -11.23%
Cost Of Revenue $19.34M $22.00M
YoY Change -12.11% -5.17%
Gross Profit $27.85M $34.90M
YoY Change -20.19% -14.88%
Gross Profit Margin 59.03% 61.34%
Selling, General & Admin $13.08M $13.20M
YoY Change -0.93% 12.82%
% of Gross Profit 46.95% 37.82%
Research & Development $33.02M $31.70M
YoY Change 4.15% 19.17%
% of Gross Profit 118.54% 90.83%
Depreciation & Amortization $700.0K $600.0K
YoY Change 16.67% 45.63%
% of Gross Profit 2.51% 1.72%
Operating Expenses $46.09M $44.90M
YoY Change 2.66% 17.23%
Operating Profit -$18.24M -$10.00M
YoY Change 82.41% -470.37%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.196M $800.0K
YoY Change 174.5% 300.0%
Pretax Income -$16.05M -$9.158M
YoY Change 75.2% -427.07%
Income Tax $1.300M $848.0K
% Of Pretax Income
Net Earnings -$17.31M -$10.01M
YoY Change 73.01% -484.85%
Net Earnings / Revenue -36.69% -17.59%
Basic Earnings Per Share -$0.53 -$0.30
Diluted Earnings Per Share -$0.53 -$0.30
COMMON SHARES
Basic Shares Outstanding 32.49M 33.33M
Diluted Shares Outstanding 32.49M 33.33M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $366.2M $414.1M
YoY Change -11.57% -1.45%
Cash & Equivalents $204.4M $336.7M
Short-Term Investments $161.7M $77.40M
Other Short-Term Assets $5.000M $3.800M
YoY Change 31.58% 15.15%
Inventory $17.60M $23.00M
Prepaid Expenses
Receivables $26.50M $25.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $415.3M $466.6M
YoY Change -10.99% 0.26%
LONG-TERM ASSETS
Property, Plant & Equipment $14.30M $6.600M
YoY Change 116.67% 26.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.90M $6.000M
YoY Change 115.0% -26.83%
Total Long-Term Assets $64.00M $52.60M
YoY Change 21.67% -2.05%
TOTAL ASSETS
Total Short-Term Assets $415.3M $466.6M
Total Long-Term Assets $64.00M $52.60M
Total Assets $479.3M $519.2M
YoY Change -7.68% 0.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.10M $17.40M
YoY Change -7.47% -6.95%
Accrued Expenses $24.90M $21.30M
YoY Change 16.9% 1.91%
Deferred Revenue $565.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.22M $39.70M
YoY Change 6.34% -13.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.30M $9.400M
YoY Change 41.49% 4.44%
Total Long-Term Liabilities $13.30M $9.400M
YoY Change 41.49% 4.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.22M $39.70M
Total Long-Term Liabilities $13.30M $9.400M
Total Liabilities $56.80M $50.30M
YoY Change 12.92% -8.04%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $422.4M $468.8M
YoY Change
Total Liabilities & Shareholders Equity $479.3M $519.2M
YoY Change -7.68% 0.02%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$17.31M -$10.01M
YoY Change 73.01% -484.85%
Depreciation, Depletion And Amortization $700.0K $600.0K
YoY Change 16.67% 45.63%
Cash From Operating Activities $5.332M $64.00K
YoY Change 8231.25% -99.72%
INVESTING ACTIVITIES
Capital Expenditures $513.0K $671.0K
YoY Change -23.55% -29.74%
Acquisitions
YoY Change
Other Investing Activities $3.600M $10.40M
YoY Change -65.38% -500.0%
Cash From Investing Activities $3.122M $9.710M
YoY Change -67.85% -374.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $20.62M
YoY Change -100.0% 135.08%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.943M -19.75M
YoY Change -109.84% 175.2%
NET CHANGE
Cash From Operating Activities 5.332M 64.00K
Cash From Investing Activities 3.122M 9.710M
Cash From Financing Activities 1.943M -19.75M
Net Change In Cash 10.40M -9.980M
YoY Change -204.18% -181.07%
FREE CASH FLOW
Cash From Operating Activities $5.332M $64.00K
Capital Expenditures $513.0K $671.0K
Free Cash Flow $4.819M -$607.0K
YoY Change -893.9% -102.75%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2019Q2 us-gaap Use Of Estimates
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<p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On an ongoing basis, management evaluates its estimates and assumptions, including those related to (i)&#160;the collectability of accounts receivable; (ii)&#160;write down of excess and obsolete inventories; (iii) intangible assets and goodwill; (iv)&#160;the estimated useful lives of long-lived assets; (v)&#160;impairment of long-lived assets and financial instruments; (vi)&#160;warranty obligations; (vii)&#160;the valuation of stock-based compensation awards and financial instruments; (viii)&#160;the probability of performance objectives achievement; (ix)&#160;the realization of tax assets and estimates of tax liabilities, including reserves for uncertain tax positions; and (x)&#160;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, assets and stock awards 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 and such differences could be material.</p>
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LiabilitiesAssociatedWithNoncancelableInternalUseSoftwareLicenseAtNetPresentValueNoncurrent
479000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19055000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8921000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10134000
CY2019Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
18548000
CY2019Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7612000
CY2019Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10936000
CY2019Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2018Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2019Q2 amba Accrued Rebates
AccruedRebates
236000
CY2019Q1 amba Accrued Rebates
AccruedRebates
311000
CY2019Q2 amba Accrued Development Cost Liabilities
AccruedDevelopmentCostLiabilities
7023000
CY2019Q1 amba Accrued Development Cost Liabilities
AccruedDevelopmentCostLiabilities
6393000
CY2019Q1 amba Liabilities Associated With Noncancelable Internal Use Software License At Net Present Value Current
LiabilitiesAssociatedWithNoncancelableInternalUseSoftwareLicenseAtNetPresentValueCurrent
4879000
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2116000
CY2019Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2472000
CY2019Q2 amba Operating Lease Expiration Year
OperatingLeaseExpirationYear
The leases expire at various dates through fiscal year 2028
CY2019Q2 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2019Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
some of which include options to extend the lease for up to 3 years.
CY2019Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
727000
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
65000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0500
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2067000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2148000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1782000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1567000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
491000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
516000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8571000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
546000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8025000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2592000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1040000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
356000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
143000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
147000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
576000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
4854000
CY2019Q2 amba Unrecognized Tax Benefits Including Interest
UnrecognizedTaxBenefitsIncludingInterest
7186000
CY2019Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2019Q2 us-gaap Deferred Tax Liabilities Gross Noncurrent
DeferredTaxLiabilitiesGrossNoncurrent
1293000
CY2019Q1 us-gaap Deferred Tax Liabilities Gross Noncurrent
DeferredTaxLiabilitiesGrossNoncurrent
1293000
CY2019Q1 amba Liabilities Associated With Noncancelable Internal Use Software License At Net Present Value Noncurrent
LiabilitiesAssociatedWithNoncancelableInternalUseSoftwareLicenseAtNetPresentValueNoncurrent
310000
CY2019Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
5000
CY2019Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
6000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
3985876
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
174800000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16460000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14195000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1459064
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
18800
CY2019Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
101645
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
6448
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
5358
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1364413
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1170168
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.31
CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
42.13
CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
14.95
CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
46.81
CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
66.87
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
29.25
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
26.28
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.57
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2767000
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y5M15D
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y9M3D
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
32360000
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
31285000
CY2019Q2 amba Closing Market Price Of Ordinary Shares On Nasdaq On Last Day Of Reporting Period
ClosingMarketPriceOfOrdinarySharesOnNASDAQOnLastDayOfReportingPeriod
50.12
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1946685
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2228273
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.079
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.093
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
37900000
CY2019Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
22900000
CY2019Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
28200000
CY2019Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1

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