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Ambarella, Inc. (NASDAQ: AMBA) reported financial results for its third quarter of fiscal year 2024 ended October 31, 2023. Revenue for the third quarter of fiscal 2024 was $50.6 million, down 39% from $83.1 million in the same period in fiscal 2023. GAAP gross margin for the third quarter of fiscal 2024 was 59.3%, compared with 62.2% for the same period in fiscal 2023. GAAP net loss for the third quarter of fiscal 2024 was $41.7 million, or loss per diluted ordinary share of $1.04. Non-GAAP gross margin for the third quarter of fiscal 2024 was 62.6%, compared with 63.5% for the same period in fiscal 2023. Non-GAAP net loss for the third quarter of fiscal 2024 was $11.2 million, or loss per diluted ordinary share of $0.28.