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Semiconductors · Technology · Fiscal year ends Jan 31
Ambarella reported revenue of $391M in the fiscal year ended Jan 2026, up 37.2% from the year before. Operating income was −$83M, an operating margin of −21.1%, and net income was −$76M. Operating cash flow of $74M less capital expenditure of $16M left free cash flow of $58M.
Ranks among the 51 semiconductors companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 332 | 338 | 226 | 285 | 391 |
| Cost of revenue | 124 | 129 | 89.7 | 113 | 159 |
| Gross profit | 208 | 209 | 137 | 172 | 231 |
| Research & development | 167 | 205 | 215 | 226 | 239 |
| Selling, general & admin | 70.4 | 78.2 | 76.3 | 72.8 | 75.3 |
| Operating income | −29.6 | −74.3 | −155 | −127 | −82.5 |
| Pre-tax income | −28.6 | −70.9 | −149 | −118 | −73.7 |
| Income tax | −2.2 | −5.6 | 20.9 | −0.6 | 2.2 |
| Net income | −26.4 | −65.4 | −169 | −117 | −75.9 |
| Diluted EPS | −0.72 | −1.70 | −4.25 | −2.84 | −1.78 |
| Diluted shares | 36.6 | 38.4 | 39.9 | 41.3 | 42.7 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 171 | 114 | 145 | 145 | 191 |
| Receivables | 44.3 | 52.0 | 25.0 | 29.8 | 39.2 |
| Inventory | 45.2 | 40.5 | 29.0 | 34.4 | 52.2 |
| Current assets | 267 | 305 | 280 | 321 | 410 |
| Net PP&E | 10.1 | 11.8 | 10.4 | 9.1 | 11.6 |
| Goodwill | 304 | 304 | 304 | 304 | 304 |
| Total assets | 658 | 710 | 658 | 689 | 799 |
| Payables | 31.2 | 17.8 | 28.5 | 21.8 | 54.0 |
| Deferred revenue | 1.4 | 1.3 | 0.9 | 14.2 | 22.4 |
| Current liabilities | 89.3 | 83.5 | 83.0 | 121 | 178 |
| Total liabilities | 110 | 104 | 97.8 | 128 | 204 |
| Shareholders' equity | 547 | 606 | 560 | 561 | 595 |
| Backlog (remaining obligations) | – | – | 6.9 | 47.0 | 76.1 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 38.8 | 44.1 | 19.0 | 33.8 | 73.5 |
| Capital expenditure | 9.7 | 15.1 | 12.0 | 10.4 | 15.5 |
| Free cash flow | 29.1 | 29.0 | 7.0 | 23.5 | 58.0 |
| Depreciation & amortisation | 14.0 | 19.9 | 24.8 | 26.1 | 25.6 |
| Stock-based compensation | 87.8 | 111 | 111 | 108 | 98.0 |
| Acquisitions | 307 | 0.0 | 0.0 | – | – |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 1.0 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 1.7% | −32.9% | 25.8% | 37.2% |
| Gross margin | 62.7% | 61.9% | 60.4% | 60.5% | 59.2% |
| Operating margin | −8.9% | −22.0% | −68.2% | −44.4% | −21.1% |
| Net margin | −8.0% | −19.4% | −74.8% | −41.1% | −19.4% |
| Return on equityBlank when equity is negative | −4.8% | −10.8% | −30.3% | −20.9% | −12.8% |
| ROCEEBIT ÷ (assets − current liabilities) | −5.2% | −11.8% | −26.9% | −22.3% | −13.3% |
| Free cash flow margin | 8.8% | 8.6% | 3.1% | 8.2% | 14.8% |
| Cash conversion (CFO ÷ net income) | −1.47x | −0.67x | −0.11x | −0.29x | −0.97x |
| Receivable days | 49 | 56 | 40 | 38 | 37 |
| Inventory days | 133 | 115 | 118 | 112 | 120 |
| Payable days | 92 | 51 | 116 | 71 | 124 |
| Current ratio | 2.99x | 3.65x | 3.38x | 2.65x | 2.31x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.