The $3 Billion Camera Chip Manufacturer - Ambarella
A key supplier to Avigilon, Bosch, Dropcam, Hikvision and many other notable video surveillance manufacturers is in the news - first for its sky rocketing stock price and now becaue of the fierce debate on its valuation.
In this note, we examine Ambarella.
Financials ********
********* **** ****** ** ****, ***** then *** *******'* ***** *** ********* 1600%+, ******** ** $* *** *****, now ** $*** *** *****.
*** ******* *** $*+ ******* ****** capitalization, ~** ***** ***** $*** ******* USD ******* ** ****. *** ******* is ****** ********** ** ~**% *** income *** *** **** ******* ****** of ~**%.
******, ***** ********* ** **** ****** a ******* ** *** **** ****, since * ******** **** ****** * report ******* ***** ********* '**********'. ********** / *************, **** **** called *** ** *********'* ******* ***** plays ****** *** ********. *********'* **** well ***** ********** ******** ** ***** (which ** *** * ****** *******, with* $*+ ******* *********).
The ******** *******
*** **** ******* ******** ** **** research **** **:
"*** ******* ********* ** *** *** end *** ****** ********** *************** *** pricing ********, ***** ********** ** *** high *** ****** *** ******* ******** in *** **** *** ** *******.... But *** **** ********* *** ******** going ** **** ***** *** ** devices *** ****** * ******* ********... *** influx ** *********** *****-****, ***-**** ******* continues ** *** **** ******** ** suppliers. ***** **** ***** *** ******* power ** *** ** ********, *** 1080p ****** *** ****** ************ ** every *****."
*** ****, ** **** ******* ** 4K, ** ********* * ***** ***** for *** ********. ** ** *** believe ** ** ** **** **** be * ***** ****** ** ******** growth ** ********** *** **** ********.
** *** *********, **** **** ****** is ***** ******* / ********** *********'* market ********* ** ** ~$*.* ******* USD ** *** *** ** **** year, ***** ***** *****, ******** ** almost *** ******** *************, ** * richly ****** *******.
Ambarella ** ************
** *** *** ** **** *** of *** ************ ******, ********* *** done **** ****. ******* ** *** few ************ *** ******* ***** *** chips (****, *******, ***.), ********* *** become *** '********' *** ****** *** cameras. **** **** **** **** *********, e.g., ***** ****** ** ****** (*********).
*********, *** ************ *************, ** **** some ****** ***********. ***** ** ********** a *** ** ******** ***.*** *** *********'* *** ** ****** ****** ** ** *********** *****. However, ********* ** *** *** ***** as * ****** ** ***** ************* are ************** *** *.*** **** *********. *** '****' ******* ** ** seen ** ************ ** **** *** Hisilicon *.*** ** ******* *** ********* about *** **** ******** ******* *********** bandwidth ******* *******.
**** ******* ** ******* ******** / concerns ***** *** *** ******* ********* savings.**** ****** ********* ************** **** *** ******** ***********, ********* to *********. *******, ********* **** ** offers ***** / ******* **********, ****** it ******* ** ** **** ***** camera ************* ****** / **** ********* of ****