Ambarella, Inc. (NASDAQ:AMBA) Q3 2024 Earnings Conference Call November 30, 2023 4:30 PM ET
Company Participants
Louis Gerhardy - Vice President, Corporate Development
Fermi Wang - President and Chief Executive Officer
Brian White - Chief Financial Officer
John Young - Vice President, Finance
Conference Call Participants
Joe Moore - Morgan Stanley
Jeremy Kwan - Stifel
Matt Myers - Susquehanna
Kevin Cassidy - Rosenblatt Securities
Neil Young - Needham & Company
Martin Yang - Oppenheimer & Company
Operator
Thank you for standing by and welcome to Ambarella’s Third Quarter Fiscal Year 2024 Earnings Conference Call. [Operator Instructions] I would now like to hand the call over to VP, Corporate Development, Louis Gerhardy. Please go ahead.
Louis Gerhardy
Thank you, Latif. Good afternoon, everyone and thank you for joining our third quarter fiscal year 2024 financial conference call. On the call with me today is Dr. Fermi Wang, President and CEO; Brian White, CFO; and John Young, VP of Finance. The primary purpose of today’s call is to provide you with information regarding the results for our third quarter fiscal year 2024.
The discussion today and the responses to your questions will contain forward-looking statements regarding our projected financial results, financial prospects, market growth and demand for our solutions, among other things. These statements are based on currently available information and subject to risks, uncertainties and assumptions. Should any of these risks or uncertainties materialize or should our assumptions prove to be incorrect, our actual results could differ materially from these forward-looking statements. We are under no obligation to update these statements. These risks, uncertainties and assumptions as well as other information on potential risk factors that could affect our financial results are more fully described in the documents we filed with the SEC. Access to our third quarter fiscal 2024 results press release, transcripts, historical results, SEC filings and a replay of today’s call can be found on the Investor Relations page of our website. The content of today’s call, as well as the materials posted on our website are Ambarella’s property and cannot be reproduced or transcribed without our prior written consent. Fermi will now provide a business update for the quarter. Brian will review the financial results and outlook, and then we will be available for your questions. Fermi?
Fermi Wang
Thank you, Louis, and good afternoon, everyone. In a challenging market, our fiscal Q3 revenue was slightly above the midpoint of our guidance. Our business appears to be in the process of stabilizing as our customers seem to be making progress with their inventory management efforts. We expect our customers to emerge from the cynical downturn at different times throughout the next year. And considering all of the dynamics at this time, we continue to anticipate we will return to growth in fiscal year 2025.