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Ambarella, Inc. (NASDAQ: AMBA) reported their financial results for the second quarter of fiscal year 2024 ended July 31, 2023. Revenue for the quarter was $62.1 million, a 23% decrease from the same period in fiscal 2023. Gross margin under U.S. generally accepted accounting principles (GAAP) for the second quarter of fiscal 2024 was 61.9%, while non-GAAP gross margin was 64.6%. GAAP net loss for the second quarter of fiscal 2024 was $31.2 million, or loss per diluted ordinary share of $0.79, while non-GAAP net loss was $6.0 million, or loss per diluted ordinary share of $0.15.