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Ambiq (NYSE: AMBQ) Q1 2026 sales surge 59% while losses continue

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Ambiq Micro, Inc. reported strong first quarter 2026 growth but remained unprofitable. Net sales were $25.1 million, up 59.3% year-over-year and 20.8% sequentially, driven by expanding demand for ultra-low-power edge AI solutions and higher-value Apollo platforms.

GAAP gross margin was 43.5%, with non-GAAP gross margin at 46.2%. The company posted a GAAP net loss of $10.2 million and a non-GAAP net loss of $5.0 million, or $0.25 per share. Customer concentration improved, as the top three customers represented about 71% of net sales versus 86% a year earlier.

Cash and cash equivalents rose to $204.5 million, supported by $76.8 million of net proceeds from a follow-on common stock offering, despite $11.2 million of operating cash outflow. For the second quarter 2026, Ambiq expects net sales of $31.0 million to $32.0 million, non-GAAP gross margin of 45.0% to 46.0%, non-GAAP operating expenses of $21.0 million to $22.0 million, and non-GAAP net loss per share of $0.29 to $0.23.

Positive

  • Strong revenue growth and margins: Q1 2026 net sales rose 59.3% year-over-year to $25.1 million with GAAP gross margin of 43.5% and non-GAAP gross margin of 46.2%, supported by demand for edge AI solutions.
  • Improved liquidity from equity raise: Cash and cash equivalents increased to $204.5 million at March 31, 2026, aided by $76.8 million of net proceeds from a follow-on common stock offering, strengthening the balance sheet.

Negative

  • Ongoing losses and cash burn: Ambiq reported a Q1 2026 GAAP net loss of $10.2 million and non-GAAP net loss of $5.0 million, with $11.2 million of negative operating cash flow, and it guides to another non-GAAP net loss in Q2 2026.

Insights

Rapid top-line growth and stronger balance sheet, but losses and cash burn continue.

Ambiq delivered Q1 2026 net sales of $25.060M, up 59.3% year-over-year and 20.8% sequentially, as edge AI demand and higher-value Apollo platforms drove volume. GAAP gross margin reached 43.5%, with non-GAAP gross margin at 46.2%, indicating solid manufacturing efficiency.

The company is still loss-making, with GAAP net loss of $10.171M and non-GAAP net loss of $5.046M, or $0.25 per share. Operating cash flow was negative $11.173M, but a follow-on equity offering added $76.832M, lifting cash to $204.535M and providing substantial liquidity for R&D and expansion.

Customer concentration eased as the top three customers fell to about 71% of net sales from 86% a year earlier, reducing single-customer risk. Management guides Q2 2026 net sales to $31.0M–$32.0M with non-GAAP gross margin of 45.0%–46.0% and non-GAAP net loss per share of $0.29–$0.23. Subsequent filings may clarify whether revenue growth translates into sustained margin expansion and progress toward breakeven.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net sales Q1 2026 $25,060 thousand Three months ended March 31, 2026 net sales, up 59.3% YoY
Net sales growth YoY 59.3% Three months ended March 31, 2026 vs March 31, 2025
GAAP gross margin Q1 2026 43.5% Three months ended March 31, 2026
Non-GAAP gross margin Q1 2026 46.2% Three months ended March 31, 2026
GAAP net loss Q1 2026 $10,171 thousand Three months ended March 31, 2026
Non-GAAP net loss Q1 2026 $5,046 thousand Three months ended March 31, 2026
Cash and cash equivalents $204,535 thousand Balance sheet as of March 31, 2026
Q2 2026 net sales guidance $31.0–$32.0 million Company outlook for quarter ending June 30, 2026
non-GAAP gross margin financial
"non-GAAP gross margin was 46.2%, reflecting improved manufacturing efficiencies"
Non-GAAP gross margin is a measure of a company's profitability that shows how much money it makes from sales after subtracting the direct costs of producing its products or services, but without applying certain accounting adjustments required by standard rules. It helps investors understand the company's core earning ability by excluding items like one-time expenses or accounting changes. This metric provides a clearer picture of ongoing business performance beyond official financial reports.
edge AI technical
"a technology leader in ultra-low-power semiconductor solutions for edge AI"
Edge AI refers to artificial intelligence systems that process data directly on local devices or nearby servers rather than sending information to distant data centers. This allows for faster decision-making and real-time responses, similar to how a home security camera can instantly detect motion without needing to connect to a remote server. For investors, edge AI represents a growing trend toward more efficient, responsive technology that can create new opportunities across various industries.
SPOT® platform technical
"its 12nm SPOT® platform powering the upcoming Atomiq® SoC"
follow-on offering financial
"Proceeds from issuance of common stock in connection with follow-on offering, net of underwriting discounts and commissions"
A follow-on offering is when a company sells additional shares to the public after its initial stock listing to raise more cash. For investors it matters because the new shares increase the total number of shares outstanding, which can reduce each existing shareholder’s ownership share and earnings per share—similar to baking more loaves of bread after the first batch, which means each slice represents a slightly smaller piece of the whole; the funds raised can also support growth or pay debt.
forward-looking statements regulatory
"The statements contained in this press release that are not historical facts are forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Revenue $25,060 thousand +59.3% YoY
GAAP net loss $10,171 thousand vs. $8,284 thousand prior-year quarter
Non-GAAP net loss $5,046 thousand vs. $5,217 thousand prior-year quarter
GAAP net loss per share $0.50 vs. $18.96 prior-year quarter
Non-GAAP net loss per share $0.25 vs. $11.94 prior-year quarter
Guidance

For Q2 2026, Ambiq expects net sales of $31.0–$32.0 million, non-GAAP gross margin of 45.0%–46.0%, non-GAAP operating expense of $21.0–$22.0 million, and non-GAAP net loss per share of $0.29–$0.23.

0001500412false00015004122026-05-122026-05-12

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 12, 2026

 

 

Ambiq Micro, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-42766

27-1911389

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

6500 River Place Blvd.

Building 7

 

Austin, Texas

 

78730

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 512 879-2850

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, $0.000001 par value per share

 

AMBQ

 

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


Item 2.02 Results of Operations and Financial Condition.

On May 12, 2026, Ambiq Micro, Inc. (the "Company") issued a press release to report financial results for its first quarter ended March 31, 2026. A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference herein.

The information set forth in this Item 2.02, including Exhibit 99.1 hereto, shall be deemed "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number

 

Description

99.1

 

Press Release of Ambiq Micro, Inc. dated May 12, 2026

104

 

Cover Page Interactive Data File (formatted as Inline XBRL)

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Ambiq Micro, Inc.

 

 

 

 

Date:

May 12, 2026

By:

/s/ Jeffrey G. Winzeler

 

 

Name:

 

Title:

Jeffrey G. Winzeler

Chief Financial Officer
 

 


Ambiq Reports First Quarter 2026 Financial Results

First quarter net sales exceeded guidance, increasing 59.3% year-over-year on expanding demand for edge AI

GAAP gross margin was 43.5%; non-GAAP gross margin was 46.2%, reflecting improved manufacturing efficiencies

Expect strong second quarter net sales of $31.0 million to $32.0 million, driven by continued edge AI demand momentum and strong execution

 

 

AUSTIN, Texas, May 12, 2026 — Ambiq Micro, Inc. (“Ambiq”) (NYSE: AMBQ), a technology leader in ultra-low-power semiconductor solutions for edge AI, today announced financial results for the first quarter 2026.

First Quarter 2026 Highlights

 

Exceptional start to 2026 with accelerating demand momentum: Delivered strong first quarter net sales, increasing year-over-year and sequentially. This reflects strong demand for edge AI solutions, expanding customer adoption of Ambiq products and upgrades to higher-value Apollo platforms, with more than 80% of units shipped running AI algorithms.
Manufacturing efficiency supports profitability: Gross margin performance reflects optimized production processes, helping to offset industry-wide cost pressures.
Expanded customer and end market diversification: In first quarter 2026, the Company's top three customers accounted for approximately 71% of net sales, compared to 86% in first quarter 2025. For the full year, net sales outside of personal devices is expected to double in 2026 compared to 2025.
Continued recognition as edge AI innovator: Won the 2026 Embedded World Award in the Best Tools category for heliaAOT™, its ahead-of-time AI compiler, marking the third consecutive year of recognition and reinforcing Ambiq’s leadership in ultra-low-power edge AI solutions.
Breakthrough in ultra-low-power semiconductor platform development: Revealed its 12nm SPOT® platform powering the upcoming Atomiq® SoC, enabling operation down to 300mV, the lowest voltage in Company history, and advancing energy-efficient performance for next-generation edge AI devices.
Expansion of global R&D footprint to accelerate edge AI innovation: Announced a multi-year Singapore-based R&D program, supported by the Economic Development Board, to advance next-generation edge AI technologies and expand development and licensing of its SPOT® platform.

 

Management Commentary

 

“We have started 2026 with exceptional momentum, delivering strong results driven by accelerating demand for edge AI capabilities and strong execution. Our differentiated, ultra-low power SPOT platform positions us as the partner of choice for enabling on-device intelligence as we expand our presence across a broader range of form factors, use cases, customers and end markets,” said Fumihide Esaka, CEO of Ambiq. “With established technology leadership, positive demand trends, and a robust product roadmap, we remain confident in our ability to drive durable top-line growth and margin expansion in the years ahead.”

 


Summary of First Quarter 2026 Results

 

GAAP
(Unaudited; $ in thousands)

 

Three months ended March 31,

 

 

Three months ended December 31,

 

 

Three months ended March 31,

 

 

Quarter over quarter change

 

 

Year over year change

 

 

 

2026

 

 

2025

 

 

2025

 

 

 

 

 

 

 

Net sales

 

$

25,060

 

 

$

20,744

 

 

$

15,732

 

 

 

20.8

%

 

 

59.3

%

Gross profit

 

$

10,891

 

 

$

8,859

 

 

$

8,389

 

 

 

22.9

%

 

 

29.8

%

Gross margin

 

 

43.5

%

 

 

42.7

%

 

 

53.3

%

 

0.8 pts

 

 

-9.8 pts

 

Operating expense

 

$

22,580

 

 

$

20,821

 

 

$

17,130

 

 

 

8.4

%

 

 

31.8

%

Net loss

 

$

(10,171

)

 

$

(10,679

)

 

$

(8,284

)

 

$

508

 

 

$

(1,887

)

 

NON-GAAP FINANCIAL MEASURES*
(Unaudited; $ in thousands)

 

Three months ended March 31,

 

 

Three months ended December 31,

 

 

Three months ended March 31,

 

 

Quarter over quarter change

 

 

Year over year change

 

 

 

2026

 

 

2025

 

 

2025

 

 

 

 

 

 

 

Non-GAAP Gross profit

 

$

11,577

 

 

$

9,436

 

 

$

7,412

 

 

 

22.7

%

 

 

56.2

%

Non-GAAP Gross margin

 

 

46.2

%

 

 

45.5

%

 

 

47.1

%

 

0.7 pts

 

 

-0.9 pts

 

Non-GAAP Operating expense

 

$

18,144

 

 

$

16,599

 

 

$

13,148

 

 

 

9.3

%

 

 

38.0

%

Non-GAAP Net loss

 

$

(5,046

)

 

$

(5,861

)

 

$

(5,217

)

 

$

815

 

 

$

171

 

 

*Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expense and non-GAAP net loss are non-GAAP financial measures. See "Non-GAAP Financial Measures" below for definitions of each of these measures, and the tables accompanying this press release for reconciliations of these measures to their most comparable GAAP measure.

 

Second Quarter Business Outlook1

Ambiq’s current expectations for the quarter ending June 30, 2026, include the following:

Net sales within a range of $31.0 million to $32.0 million
Non-GAAP gross margin between 45.0% and 46.0%
Non-GAAP operating expense of $21.0 million to $22.0 million
Non-GAAP net loss per share within a range of ($0.29) to ($0.23) based on a weighted average share count of 21.38 million shares outstanding

 

1Ambiq's financial outlook is based on assumptions that it believes to be reasonable as of the date of this release, but may be materially affected by many factors, as discussed below in "Forward-Looking Statements." Actual results may vary from the guidance and the variations may be material. We undertake no intent or obligation to publicly update or revise this outlook, whether as a result of new information, future events or otherwise, except as required by law. The Company is unable to include a reconciliation of forward-looking non-GAAP net loss per share, non-GAAP gross margin and non-GAAP operating expense to the most directly comparable GAAP measure without unreasonable effort due to the high variability with respect to the impact of items such as depreciation and amortization and, stock-based compensation expense and other items that are excluded from these non-GAAP measures.

 

Conference Call

Ambiq will host a conference call for analysts and investors today at 8:30 a.m. Eastern Time. Interested participants can access the call by dialing 1-833-461-5787 and providing conference ID 507165301. International callers may join the call by dialing +1-585-542-9983, using the same code. The call will also be available as a live and archived webcast on the Events & Presentations section of Ambiq's Investor Relations website.

About Ambiq Micro

Headquartered in Austin, Texas, Ambiq's mission is to enable intelligence (artificial intelligence (AI) and beyond) everywhere by delivering the lowest power semiconductor solutions. Ambiq enables its customers to deliver AI compute at the edge where power consumption challenges are the most severe. Ambiq's technology innovations, built on the patented and proprietary subthreshold power optimized technology (SPOT®), fundamentally deliver a multi-fold


improvement in power consumption over traditional semiconductor designs. Ambiq has powered over 300 million devices to date. For more information, visit www.ambiq.com.

Non-GAAP Financial Measures

Ambiq supplements its reporting of financial information determined under generally accepted accounting principles in the United States of America (GAAP), including the use of non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP R&D expenses, non-GAAP SG&A expenses and non-GAAP net loss. These non-GAAP financial measures help management make strategic decisions, establish budgets and operational goals for managing the business, analyzing financial results, and evaluating business performance. Ambiq defines non-GAAP gross profit as gross profit adjusted to exclude expenses not directly attributable to gross profit, such as depreciation and amortization, stock-based compensation and gain on nonmonetary transaction. Ambiq defines non-GAAP gross margin as non-GAAP gross profit as a percentage of net sales. Ambiq defines non-GAAP operating expenses, non-GAAP R&D expenses and non-GAAP SG&A expenses as operating expenses, R&D expenses and SG&A expenses, as applicable, adjusted to exclude expenses not directly attributable to operating expenses, R&D expenses and SG&A expenses, as applicable, such as depreciation and amortization, stock-based compensation, severance costs, IPO-related bonus and IPO and other transaction costs, as applicable. Ambiq defines non-GAAP net loss as net loss adjusted to exclude expenses not directly attributable to the performance of operations, such as income taxes, depreciation and amortization, stock-based compensation, gain on nonmonetary transaction, severance costs, IPO-related bonus, IPO and other transaction costs and warrant valuation.

Ambiq believes these non-GAAP financial measures provide additional tools for investors to use in comparing core business and results of operations over multiple periods with other companies in the industry, many of which present similar non-GAAP financial measures. However, Ambiq's presentation of non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP R&D expenses, non-GAAP SG&A expenses, and non-GAAP net loss may not be comparable to similarly titled measures reported by other companies due to differences in the way that these measures are calculated. These non-GAAP measures have limitations, and should not be considered as the sole measures of our performance and should not be considered in isolation from, or as a substitute for, the most comparable measure calculated in accordance with GAAP.

Forward-Looking Statements

The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates," or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to Ambiq's expectations around its strategic initiatives, growth trajectory and expected second quarter business and full year outlook. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify including those described in the section titled "Risk Factors" in Ambiq's Annual Report on 10-K for the year ended December 31, 2025, as well as in other filings Ambiq may make with the SEC in the future. Ambiq's expectations, beliefs and projections are expressed in good faith and Ambiq believes there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. Ambiq undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

 

 

 

 

 


 

 

 

AMBIQ MICRO, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited and in thousands, except share and per share amounts)

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

204,535

 

 

$

140,275

 

Accounts receivable, net

 

 

10,975

 

 

 

7,286

 

Inventories

 

 

23,463

 

 

 

16,937

 

Prepaid expenses and other current assets

 

 

2,688

 

 

 

3,421

 

Total current assets

 

$

241,661

 

 

$

167,919

 

Property, equipment and software, net of accumulated depreciation and
   amortization of $15,051 and $14,632, respectively

 

 

4,322

 

 

 

4,137

 

Right-of-use assets, net

 

 

1,682

 

 

 

638

 

Intangible assets, net of accumulated amortization of $12,090 and $10,752,
   respectively

 

 

11,465

 

 

 

11,593

 

Other assets

 

 

391

 

 

 

393

 

Total assets

 

$

259,521

 

 

$

184,680

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

8,285

 

 

$

8,577

 

Accrued and other current liabilities

 

 

11,380

 

 

 

10,201

 

Short-term lease liabilities

 

 

982

 

 

 

400

 

Total current liabilities

 

$

20,647

 

 

$

19,178

 

Long-term lease liabilities

 

 

1,161

 

 

 

278

 

Other long-term liabilities

 

 

2,554

 

 

 

2,765

 

Total liabilities

 

$

24,362

 

 

$

22,221

 

Commitments and contingencies (Note 6)

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

Common stock, $0.000001 par value; 500,000,000 shares authorized; 21,359,204 shares and 18,316,928 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

 

 

 

 

 

 

Additional paid-in-capital

 

 

602,416

 

 

 

519,610

 

Accumulated deficit

 

 

(366,882

)

 

 

(356,711

)

Accumulated other comprehensive loss

 

 

(375

)

 

 

(440

)

Total stockholders’ equity

 

 

235,159

 

 

 

162,459

 

Total liabilities and stockholders’ equity

 

$

259,521

 

 

$

184,680

 

 

 

 


AMBIQ MICRO, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited and in thousands, except share and per share amounts)

 

 

March 31, 2026

 

 

March 31, 2025

 

Net sales

 

$

25,060

 

 

$

15,732

 

Cost of sales

 

 

14,169

 

 

 

7,343

 

Gross profit

 

 

10,891

 

 

 

8,389

 

Operating expenses:

 

 

 

 

 

 

Research and development

 

 

12,832

 

 

 

8,687

 

Selling, general, and administrative

 

 

9,748

 

 

 

8,443

 

Total operating expenses

 

 

22,580

 

 

 

17,130

 

Loss from operations

 

 

(11,689

)

 

 

(8,741

)

Other income, net

 

 

1,521

 

 

 

461

 

Loss before income taxes

 

 

(10,168

)

 

 

(8,280

)

Provision for income taxes

 

 

3

 

 

 

4

 

Net loss

 

$

(10,171

)

 

$

(8,284

)

Net loss per share, basic and diluted

 

$

(0.50

)

 

$

(18.96

)

Weighted-average shares used in computing net loss per share, basic and diluted

 

 

20,396,354

 

 

 

436,890

 

Comprehensive loss:

 

 

 

 

 

 

Currency translation adjustment

 

 

65

 

 

 

(30

)

Comprehensive loss

 

$

(10,106

)

 

$

(8,314

)

 

 


AMBIQ MICRO, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited and in thousands)

 

 

For the three months ended March 31,

 

 

 

2026

 

 

2025

 

Cash flows from operating activities

 

 

 

 

 

 

Net loss

 

$

(10,171

)

 

$

(8,284

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

 

1,740

 

 

 

1,961

 

Stock-based compensation

 

 

3,362

 

 

 

851

 

Gain on receipt of nonmonetary tangible assets

 

 

 

 

 

(1,600

)

Change in right-of-use assets

 

 

209

 

 

 

242

 

Change in warrant valuations and cancellations

 

 

 

 

 

(58

)

Changes in operating assets and liabilities

 

 

 

 

 

 

Accounts receivable

 

 

(3,644

)

 

 

6,349

 

Inventories

 

 

(6,526

)

 

 

(286

)

Prepaid expenses and other assets

 

 

745

 

 

 

66

 

Other long-term assets

 

 

(3

)

 

 

 

Accounts payable

 

 

2,142

 

 

 

2,255

 

Accrued and other current liabilities

 

 

885

 

 

 

(90

)

Other long-term liabilities

 

 

88

 

 

 

 

Net cash (used in) provided by operating activities

 

 

(11,173

)

 

 

1,406

 

Cash flows from investing activities

 

 

 

 

 

 

Purchase of intangible assets

 

 

(3,437

)

 

 

(1,000

)

Purchases of property, equipment and software

 

 

(584

)

 

 

(116

)

Net cash used in investing activities

 

 

(4,021

)

 

 

(1,116

)

Cash flows from financing activities

 

 

 

 

 

 

Proceeds from issuance of common stock in connection with follow-on offering, net of underwriting discounts and commissions

 

 

76,832

 

 

 

 

Payment of deferred offering costs

 

 

(1,488

)

 

 

 

Proceeds from exercise of stock options

 

 

1,090

 

 

 

148

 

Proceeds from exercise of warrants

 

 

3,010

 

 

 

 

Net cash provided by financing activities

 

 

79,444

 

 

 

148

 

Effect of exchange rate changes on cash and cash equivalents

 

 

10

 

 

 

(1

)

Net increase in cash and cash equivalents

 

 

64,260

 

 

 

437

 

Cash and cash equivalents at beginning of period

 

 

140,275

 

 

 

60,981

 

Cash and cash equivalents at end of period

 

$

204,535

 

 

$

61,418

 

Supplemental disclosure of non-cash investing and financing activities

 

 

 

 

 

 

Intangible assets in accounts payable, accrued and other long-term liabilities

 

 

7,536

 

 

 

6,004

 

Gain on receipt of nonmonetary tangible asset

 

 

 

 

 

1,600

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

1,237

 

 

 

383

 

 

 

 

 


The following table reconcile the most directly comparable GAAP financial measure to each of these non-GAAP financial measures.

 

 

Non-GAAP Net Loss:

 

 

Three months ended
March 31,

 

 

Three months ended December 31,

 

 

 

2026

 

 

2025

 

 

2025

 

 

 

(in thousands)

 

Net loss

 

$

(10,171

)

 

$

(8,284

)

 

$

(10,679

)

Add:

 

 

 

 

 

 

 

 

 

Income taxes

 

 

3

 

 

 

4

 

 

 

19

 

Depreciation and amortization

 

 

1,740

 

 

 

1,961

 

 

 

1,648

 

Stock-based compensation

 

 

3,362

 

 

 

851

 

 

 

3,151

 

Gain on nonmonetary transaction

 

 

 

 

 

(1,600

)

 

 

 

Severance costs

 

 

20

 

 

 

 

 

 

 

IPO and other transaction costs

 

 

 

 

 

1,793

 

 

 

 

Warrant valuation

 

 

 

 

 

58

 

 

 

 

Non-GAAP net loss

 

$

(5,046

)

 

$

(5,217

)

 

$

(5,861

)

 

Non-GAAP Gross Profit and Non-GAAP Gross Margin:

 

 

Three months ended
March 31,

 

 

Three months ended December 31,

 

 

 

2026

 

 

2025

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

$

10,891

 

 

$

8,389

 

 

$

8,859

 

Add:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

499

 

 

 

562

 

 

 

475

 

Stock-based compensation

 

 

187

 

 

 

61

 

 

 

102

 

Gain on nonmonetary transaction

 

 

 

 

 

(1,600

)

 

 

 

Non-GAAP gross profit

 

$

11,577

 

 

$

7,412

 

 

$

9,436

 

 

Non-GAAP Operating Expenses:

 

 

Three months ended
March 31,

 

 

Three months ended December 31,

 

 

 

2026

 

 

2025

 

 

2025

 

 

 

(in thousands)

 

Operating expenses

 

$

22,580

 

 

$

17,130

 

 

$

20,821

 

Less:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

1,241

 

 

 

1,399

 

 

 

1,173

 

Stock-based compensation

 

 

3,175

 

 

 

790

 

 

 

3,049

 

Severance

 

 

20

 

 

 

 

 

 

 

IPO and other transaction costs

 

 

 

 

 

1,793

 

 

 

 

Non-GAAP operating expenses

 

$

18,144

 

 

$

13,148

 

 

$

16,599

 

 

 

 

Three months ended
March 31,

 

 

Three months ended December 31,

 

Research and development

 

2026

 

 

2025

 

 

2025

 

 

 

(in thousands)

 

 

 

 

Operating expenses

 

$

12,832

 

 

$

8,687

 

 

$

12,012

 

Less:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

1,202

 

 

 

1,257

 

 

 

1,136

 

Stock-based compensation

 

 

1,518

 

 

 

389

 

 

 

1,609

 

Severance

 

 

20

 

 

 

 

 

 

 

Non-GAAP operating expenses

 

$

10,092

 

 

$

7,041

 

 

$

9,268

 

 


 

 

 

Three months ended
March 31,

 

 

Three months ended December 31,

 

Selling, general, and administrative

 

2026

 

 

2025

 

 

2025

 

 

 

(in thousands)

 

 

 

 

Operating expenses

 

$

9,748

 

 

$

8,443

 

 

$

8,809

 

Less:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

39

 

 

 

142

 

 

 

37

 

Stock-based compensation

 

 

1,657

 

 

 

401

 

 

 

1,440

 

IPO and other transaction costs

 

 

 

 

 

1,793

 

 

 

 

Non-GAAP operating expenses

 

$

8,052

 

 

$

6,107

 

 

$

7,331

 

 

Non-GAAP Net Loss per Share:

 

 

Three months ended March 31,

 

 

 

2026

 

 

2025

 

GAAP net loss

 

$

(10,171

)

 

$

(8,284

)

Weighted-average shares used in computing GAAP net loss per share

 

 

20,396,354

 

 

 

436,890

 

GAAP net loss per share

 

$

(0.50

)

 

$

(18.96

)

 

 

 

 

 

 

Non-GAAP net loss

 

$

(5,046

)

 

$

(5,217

)

Weighted-average shares used in computing non-GAAP net loss per share

 

 

20,396,354

 

 

 

436,890

 

Non-GAAP net loss per share

 

$

(0.25

)

 

$

(11.94

)

 

 

Company Contact
Charlene Wan
VP of Corporate Marketing
cwan@ambiq.com

Investor Relations Contact
Teneo
Christina Coronios
christina.coronios@teneo.com

 


FAQ

How did Ambiq Micro (AMBQ) perform in Q1 2026?

Ambiq Micro reported Q1 2026 net sales of $25.060 million, up 59.3% year-over-year. GAAP gross margin was 43.5%, and the company posted a GAAP net loss of $10.171 million and non-GAAP net loss of $5.046 million as it invests in growth.

What were Ambiq Micro (AMBQ) gross margins in Q1 2026?

In Q1 2026, Ambiq Micro achieved a GAAP gross margin of 43.5% and a non-GAAP gross margin of 46.2%. These margins reflect improved manufacturing efficiencies as the company scales ultra-low-power edge AI semiconductor shipments and higher-value Apollo platforms.

Is Ambiq Micro (AMBQ) profitable based on Q1 2026 results?

Ambiq Micro is not yet profitable. It recorded a Q1 2026 GAAP net loss of $10.171 million and a non-GAAP net loss of $5.046 million, or $0.25 per share, while continuing to invest heavily in research, development and go-to-market initiatives.

What guidance did Ambiq Micro (AMBQ) give for Q2 2026?

For Q2 2026, Ambiq Micro expects net sales of $31.0–$32.0 million, non-GAAP gross margin of 45.0%–46.0%, non-GAAP operating expenses of $21.0–$22.0 million, and non-GAAP net loss per share of $0.29–$0.23 on 21.38 million weighted-average shares.

How strong is Ambiq Micro’s (AMBQ) balance sheet after Q1 2026?

Ambiq Micro ended March 31, 2026 with $204.535 million in cash and cash equivalents, up from $140.275 million. The increase was driven largely by a follow-on common stock offering that generated $76.832 million in net proceeds, offsetting operating cash outflows.

How concentrated were Ambiq Micro’s (AMBQ) customers in Q1 2026?

Customer concentration improved in Q1 2026. The top three customers accounted for approximately 71% of net sales, compared with 86% in Q1 2025. This shift suggests broader customer adoption across end markets for Ambiq’s ultra-low-power edge AI products.

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