AMBA TTM EPS

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1

I am trying to validate Kevin’s EPS numbers for AMBA listed in his spreadsheet, but they are not lining up with what I am finding in the quarterly reports. AMBA’s quarterly reports have about 25 tabs to go through.

Am I missing something in the quarterly reports or are Kevin’s number just not accurate?


      |       |       |       |       |      
$0.26 | $0.37 | $0.26 | $0.25 | $0.37 | $0.68 | $0.68 | $0.71



                                              | Three Months Ended April 30, |          
                                              |                         2015 |      2014
Revenue                                       |                     $71,013  |  $40,921 
Cost of revenue                               |                      25,095  |   15,325 
Gross profit                                  |                      45,918  |   25,596 
Operating expenses:                           |                              |          
Research and development                      |                      16,583  |   12,914 
Selling, general and administrative           |                       9,010  |    6,755 
Total operating expenses                      |                      25,593  |   19,669 
Income from operations                        |                      20,325  |    5,927 
Other income                                  |                          27  |       49 
Income before income taxes                    |                      20,352  |    5,976 
Provision for income taxes                    |                       1,498  |      716 
Net income                                    |                     $18,854  |   $5,260 
Net income per share attributable to ordinary |                              |          
shareholders:                                 |                              |          
Basic                                         |                       $0.61  |    $0.18 
Diluted                                       |                       $0.56  |    $0.17
2

JC,
Kevin is using non-gaap numbers and the numbers you are using are gaap.
Also they quarters you are looking at are 1st quarter 2016 and 1st quarter 2015. Amba’s financials do not follow the calendar year but are off set.

Andy

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3

If you look in the latest quarterly report news release you can pull the EPS data from 2 places:

  1. The textual description at the start of the release:

Financial results on a non-GAAP basis for the first fiscal quarter ended April 30, 2015 are as follows:

  • Gross margin on a non-GAAP basis for the first quarter of fiscal 2016 was 64.8%, compared with 62.7% for the same period in fiscal 2015.

  • Non-GAAP net income for the first quarter of fiscal 2016 was $23.7 million, or $0.71 per diluted ordinary share. This compares with non-GAAP net income of $7.8 million, or $0.25 per diluted ordinary share, for the same period in fiscal 2015.

  1. From the tables that follow:

Look at the last line of this one:

AMBARELLA, INC.
RECONCILIATION OF GAAP TO NON-GAAP DILUTED EARNINGS PER SHARE
(in thousands, except share and per share data)

Three Months Ended April 30,
2015 2014
(unaudited)

Non-GAAP - diluted net income per share $ 0.71 $ 0.25

$0.71 for this quarter and $0.25 for the same quarter a year ago tie in with the data in Kevin’s spreadsheet.

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