Results – revenue $100.5M (+7.8% Y/Y, $3.2M above estimates), EPS $1.11 ($0.17 above estimates), gross margin 66.3% (vs. 65.9% Y/Y), net income $38.4M (vs. $36.6M Y/Y), cash, cash equivalents and marketable securities $372.1M (vs. $276.7M Y/Y)
Share repurchase – Current plan extended to allow for up to $75M repurchase through June 30, 2017. As of today, total shares repurchased number 405,089. No repurchases had been made during the Q3 period.
Q4 projections – revenue $84M-$87M (consensus $90.27M), gross margin 64%-65%, operating expenses $25.5M-$27M, tax rate 11%-12%
Ambarella (NASDAQ:AMBA) CEO Fermi Wang: "We are very proud to have achieved more than $100 million in revenue in the quarter, a new milestone. We saw continued revenue growth in IP security, home monitoring and the automotive camera markets, as well as a ramp in revenue from action sports cameras for the holiday season. We were also pleased to enable the introduction of a new generation of products, offering 4Kp60 video performance for the first time."