Ambarella Inc at Evercore ISI Autotech & AI Forum (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: CJ Muse - Evercore ISI - Analyst : Well, that is great. So I guess considering this is an AI automotive conference, we really wanted to narrow in on your accelerating automotive business. So I guess just as a starting point so we can build off of that as to the growth that you expect from here, how should we be thinking about the current mix? I believe your expectations are for January 2022 fiscal year revenues to more than double from the $40 million you did in fiscal 2021. Can you speak to the key drivers of the business today and then we can build off of that from there?

Question: CJ Muse - Evercore ISI - Analyst : Very helpful. I guess maybe digging a bit deeper into the technology side of the Company, so you've talked about treating video as a unique type of data and that's been key and core to the strategy of Ambarella for 17 years. Can you speak at a high level as to how this strategy sets you up for success in the move to ADAS and eventually full autonomous?

Question: CJ Muse - Evercore ISI - Analyst : No, that's great.

Question: CJ Muse - Evercore ISI - Analyst : Very helpful. If you could go back to the prior chip that you were referring to -- slide rather, sorry. I'm curious to try to separate what you are providing pre-sensor fusion and then within sensor fusion, and would love to hear how you are thinking about redundancy. So we heard from Mobileye this morning talking about separate inputs, lidar/radar vision, and curious how -- given that you've talked about video compression and image processing as core competencies, how you're able to add the ability on the lidar/radar side to get into the sensor fusion part of the market. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 22, 2021 / 1:30PM, AMBA.OQ - Ambarella Inc at Evercore ISI Autotech & AI Forum (Virtual)

Question: CJ Muse - Evercore ISI - Analyst : Very, very helpful. I guess trying to weave between the longer-term strategy and kind of where we are today, so you've talked about auto as wave three for the Company, really materializing in 2023. I guess we'd love to hear how you see the opportunity ramping for you. And I guess within that construct, you have a number of different design wins with multiple products whether CV25, CV22, CV2, et cetera. So maybe you can help us better understand what products are ramping today, and then how we should think about your more recently introduced 5nm flagship processor and when we should think about that really taking off for the Company.

Question: CJ Muse - Evercore ISI - Analyst : Very helpful. So I guess maybe sticking with kind of the next-gen and moving to full sensor fusion, what can you share in terms of the plans there? Will this be a closed system, open system? How would you compare your offering versus a Tesla in-house, Mobileye, NVIDIA, Qualcomm et cetera?

Question: CJ Muse - Evercore ISI - Analyst : So what are the key milestones we should be thinking about for success for full hardware solution up to level IV, level V, for you all?

Question: CJ Muse - Evercore ISI - Analyst : Yes, sorry. As we think about the world moving to full autonomous and you moving up the stack into the sensor fusion part of the world, what are the key milestones that we should be thinking about? Is there a timeline for new SoC offerings, timeline for design win announcements, or any other things that you think are relevant to be thoughtful of?

Question: CJ Muse - Evercore ISI - Analyst : That's great. So maybe we could spend our final five minutes on that part of the market. So I think it was slide 14 where you go through the market penetration and sizing, so 15, sorry. So I guess on this front, we talked a bit already on the recorder/datalogger side. So if we think about the other two markets here, calendar 2025, $4 billion kind of revenue opportunity, how are you thinking about market penetration versus these numbers that you've outlined here today? And within that, what kind of market share do you think you could obtain? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 22, 2021 / 1:30PM, AMBA.OQ - Ambarella Inc at Evercore ISI Autotech & AI Forum (Virtual)

Question: CJ Muse - Evercore ISI - Analyst : Excellent. So you think we'll be live by January 2022? I hope you're right.

Question: CJ Muse - Evercore ISI - Analyst : Yes, fingers crossed. Well, gentlemen, thank you for your time. Really appreciate it. And for everyone on the line, I hope you all can make Las Vegas in January. It will be great to see everyone in person. So with that, we'll stop there and thank you again.