Ambarella drops after CFO warns of sequential decline in Q4 revenue

Shares of chip designer Ambarella AMBA.O fall 6.6% to $84.95 premarket after CFO warns of sequential decline in Q4 revenue

Co sees Q4 revenue in the range of $97 mln-$103 mln, down sequentially

"Sequentially, due to seasonality, we expect a mid to high single-digit decline in both our automotive and IoT businesses," CFO John Young says in the earnings call

Co's net loss narrows to $15.1 mln; loss driven by high R&D spend despite strong revenue growth

Co posts Q3 revenue $108.45 mln, above est. of $104.12 mln; adj. EPS $0.27, above est. of $0.21 - data compiled by LSEG

Up to last close, stock up 25.06% YTD