Ambarella Q1 revenue is reduced by 11.2% annually
Ambarella recently announced its 2019 first-quarter financial report for the year ended April 30, 2018. Revenues have decreased by 11.2% year-on-year to US$56.9 million.
Due to the decline in GoPro business revenue, Ambarella launched the CV1, a computer vision chip, to meet autopilot applications such as ADAS, electronic rearview mirrors and panoramic images. In the summer of 2015, Ambarella acquired VisLab, a start-up company of the University of Parma in Italy, for US$30 million. The team led by Alberto Broggi, Founder of VisLab, is the backbone of Ambarella's highly automated vehicle AV software stack.
On March 28th this year, Ambarella announced a visual chip called CV2 that can provide deep neural network and stereo vision processing. It aims at the ADAS and the auto-driving car market. Unlike CV1, CV2 meets the requirements of the vehicle class.
As of 2017, Mobileye used 9 million chips for the ADAS system. In the pursuit of Mobileye, Ambarella has a long way to go.