Ambarella Inc(NASDAQ: AMBA) stock rose over 6.9% in the pre-market session on December 1st, 2017 in the third quarter of 2018. AMBA stock has been consolidating this year and generated over 0.3% (as of November 30th, 2017; Source: Google finance).
The group’s revenue lost 11.4% yoy to $89.1 million during the third quarter of 2018 which is a fall of 11.4% from pcp. Non-GoPro revenue was 7.2% higher driven by strong design win momentum in their target, IP security and automotive camera markets.
The group assembled their new CV1 chip to key IP security and automotive customers. Based on our CV4 architecture, CV1 combines Ambarella’s traditional strengths in high resolution imaging for camera capturing video to be watched by humans and with the stereovision and the new level processing required for advanced motion vision.
Beyond CV1, the group is on target to deliver a new generation of SoC solutions in the first half of next year that are based on the CV4 architecture.
In the automotive markets, the group saw opportunities in multiple applications spending car recorders, electronic mirror, surround view, advanced driver assistance systems or ADAS, and ultimately fully autonomous vehicles.
During the quarter Honda introduced drive recorders powered by the group’s A7LA video processor, which offer full HD video recording and similarly integrate with Honda’s navigation and infotainment systems. In China car makers BAIC and Chicony both launched new car models featuring car recorders based on the group’s S2L SoC.
As per professional IP security camera market, the group demonstrated and assembled their new CV1 chip leading IP camera makers as a platform for the development of the next-generation cameras with these capabilities.
Moreover, European and U.S. based customer are currently deploying cameras based on the new HEVC or H265 video standard post the early adoption in the Chinese market.
European security supplier Bosch released their new AUTODROME IP 4,000i, 5,000i and 6,000i camera families during the quarter based on Ambarella’s S33L SoCs. The camera supports both H264 and H265 video and includes up to 30 times optical zoom and a full HD video at 60 frames per second.