Third quarter net sales increased 110% year-over-year on broad demand across customers, product families and form factors
Gross profit more than doubled year-over-year, outpacing net sales growth
Expect fourth quarter net sales of $43.5 million to $44.5 million, supported by accelerating demand for edge AI
AUSTIN, Texas--(BUSINESS WIRE)--November 10, 2026--
Ambiq Micro, Inc. ("Ambiq") $(AMBQ)$, a technology leader in ultra-low-power semiconductor solutions for edge AI, today announced financial results for the third quarter of 2026.
Third Quarter 2026 and Recent Highlights
-- Continued net sales growth on strong edge AI demand: Net sales
increased approximately 110%, year-over-year, driven by strong demand
across customers, product families and form factors.
-- Gross profit outpaced net sales growth: GAAP gross profit increased
132% and non-GAAP gross profit increased 128% year-over-year, with GAAP
gross margin and non-GAAP gross margin expanding by 440 basis points and
390 basis points respectively.
-- Continued customer diversification: The active customer base expanded
approximately 50% year-over-year with seven customers generating more
than $1 million each in quarterly net sales, compared to three in the
same quarter last year.
-- Expanded HELIA AI ecosystem for edge AI development: Supported
customers to enable faster, more efficient AI deployment with the
introduction of heliaPROFILER(TM) and heliaAOT(TM) 1.0, the seventh AI
software product launch or major release in 2026.
Management Commentary
"We delivered our sixth consecutive quarter of sequential net sales growth supported by healthy customer demand and strong supply chain partnerships that enabled us to secure capacity and meet growing customer needs. With demand for edge AI accelerating, we expect to deliver a meaningful step-up in net sales in the fourth quarter and another year of strong growth in 2027," said Fumihide Esaka, CEO of Ambiq. "We believe we are still in the early stages of a significant, multi-year shift toward greater intelligence at the edge. With our differentiated technology, growing portfolio and expanding customer base, we believe Ambiq is well positioned to capture the significant opportunity ahead."
Summary of Third Quarter 2026 Results
Three months Three Three months Quarter
GAAP ended months ended over Year over
(Unaudited; $ September ended June September quarter year
in thousands) 30, 30, 30, change change
------------ ----------- ------------ --------- ---------
2026 2026 2025
------------ ----------- ------------ ----- -----
Net sales $38,138 $33,901 $18,165 12.5% 110.0%
Gross profit $17,823 $15,267 $ 7,677 16.7% 132.2%
1.7 4.4
Gross margin 46.7% 45.0% 42.3% pts pts
Operating
expense $27,851 $23,994 $17,720 16.1% 57.2%
Net loss $(7,056) $(7,115) $(9,002) NM NM
NON-GAAP
FINANCIAL Three months Three Three months Quarter
MEASURES* ended months ended over Year over
(Unaudited; $ September ended June September quarter year
in thousands) 30, 30, 30, change change
------------ ----------- ------------ --------- ---------
2026 2026 2025
------------ ----------- ------------ ---- --- -----
Non-GAAP Gross
profit $18,559 $15,989 $ 8,141 16.1% 128.0%
Non-GAAP Gross 1.5 3.9
margin 48.7% 47.2% 44.8% pts pts
Non-GAAP
Operating
expense $22,756 $19,374 $13,162 17.5% 72.9%
Non-GAAP Net
loss $(1,221) $(1,772) $(3,977) NM NM
* 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.
Fourth Quarter Business Outlook(1)
Ambiq's current expectations for the quarter ending December 31, 2026, include the following:
-- Net sales within a range of $43.5 million to $44.5 million, reflecting
accelerating demand for edge AI.
-- Non-GAAP gross margin to be approximately flat to 3Q 2026 as
manufacturing efficiencies and product mix help to offset increased
supply chain cost pressure.
-- Non-GAAP operating expense of $25.5 million to $26.5 million,
reflecting Atomiq110 and Apollo340 tape-out costs and other investments
to support our product development roadmap.
-- Non-GAAP net loss per share within a range of ($0.09) to ($0.03) based
on a weighted average share count of 24.6 million shares outstanding.
(1) Ambiq'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 gross margin, non-GAAP operating expense and non-GAAP net loss
per share 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 742 816 259. 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
Ambiq's mission is to enable intelligence (artificial intelligence (AI) and beyond) everywhere by delivering the lowest power semiconductor solutions. Built on its patented Subthreshold Power Optimized Technology (SPOT(R)) platform and the HELIA(TM) AI ecosystem, Ambiq empowers manufacturers to bring more capable AI to the edge, where power, memory, and energy efficiency are most critical. Ambiq enables more intelligent, always-on edge devices across healthcare, wearables, industrial automation, smart environments, and other emerging AI applications. With more than 300 million devices shipped worldwide, Ambiq continues to shape the future of always-on Edge AI. Headquartered in Austin, Texas, Ambiq serves customers globally. For more information, visit www.ambiq.com.
Ambiq, Ambiq Micro and the Ambiq logo are registered trademarks of Ambiq Micro, Inc. All other company or product names noted herein may be trademarks of their respective holders.
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 transactions. 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 transactions, 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 fourth quarter 2026 and 2027 outlook, growth trajectory and competitive position. 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 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, 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.
Availability of Information on Our Website
We routinely use our investor relations website (ir.ambiq.com) to post presentations to investors and other important information, including information that may be material. Accordingly, we encourage investors and others interested in Ambiq to review the information it makes public on its investor relations website.
AMBIQ MICRO, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except share and per share amounts)
September 30, December 31,
2026 2025
--------------- ----------------
Assets
Current assets:
Cash and cash equivalents $ 363,452 $ 140,275
Accounts receivable, net 19,020 7,286
Inventories 30,051 16,937
Prepaid expenses and other current
assets 4,802 3,421
---------- ---------
Total current assets $ 417,325 $ 167,919
Property, equipment and software,
net of accumulated depreciation
and amortization of $15,914 and
$14,632, respectively 4,497 4,137
Right-of-use assets, net 3,027 638
Intangible assets, net of
accumulated amortization of
$14,865 and $10,752, respectively 8,828 11,593
Other assets 1,218 393
---------- ---------
Total assets $ 434,895 $ 184,680
========== =========
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 7,657 $ 8,577
Accrued and other current
liabilities 16,425 10,201
Short-term lease liabilities 1,134 400
---------- ---------
Total current liabilities $ 25,216 $ 19,178
Long-term lease liabilities 3,291 278
Other long-term liabilities 1,011 2,765
---------- ---------
Total liabilities $ 29,518 $ 22,221
---------- ---------
Commitments and contingencies (Note
6)
Stockholders' equity:
Common stock, $0.000001 par value;
500,000,000 shares authorized;
24,516,643 shares and 18,316,928
shares issued and outstanding at
September 30, 2026 and December
31, 2025, respectively $ -- $ --
Additional paid-in capital 786,731 519,610
Accumulated deficit (381,053) (356,711)
Accumulated other comprehensive
loss (301) (440)
---------- ---------
Total stockholders' equity $ 405,377 $ 162,459
---------- ---------
Total liabilities and stockholders'
equity $ 434,895 $ 184,680
========== =========
AMBIQ MICRO, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)
(in thousands, except share and per share amounts)
Three months ended Nine months ended
-------------------------- ---------------------------
September September September September 30,
30, 2026 30, 2025 30, 2026 2025
------------ ------------ ------------ -------------
Net sales $ 38,138 $ 18,165 $ 97,099 $ 51,770
Cost of sales 20,315 10,488 53,118 28,534
---------- ---------- ---------- ---------
Gross profit 17,823 7,677 43,981 23,236
Operating
expenses:
Research and
development 16,297 8,889 43,268 26,474
Selling, general
and
administrative 11,554 8,831 31,157 24,343
---------- ---------- ---------- ---------
Total operating
expenses 27,851 17,720 74,425 50,817
---------- ---------- ---------- ---------
Loss from
operations (10,028) (10,043) (30,444) (27,581)
Other income, net 2,976 1,044 6,110 1,820
---------- ---------- ---------- ---------
Loss before income
taxes (7,052) (8,999) (24,334) (25,761)
Provision for
income taxes 4 3 8 21
---------- ---------- ---------- ---------
Net loss $ (7,056) $ (9,002) $ (24,342) $ (25,782)
Net loss per
share, basic and
diluted $ (0.29) $ (0.72) $ (1.10) $ (5.73)
Weighted-average
shares used in
computing net
loss per share,
basic and diluted
. 24,274,796 12,464,236 22,152,233 4,495,701
Comprehensive
loss:
Currency
translation
adjustment (50) (14) 139 66
---------- ---------- ---------- ---------
Comprehensive loss $ (7,106) $ (9,016) $ (24,203) $ (25,716)
========== ========== ========== =========
AMBIQ MICRO, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
For the nine months
ended
September 30,
-------------------------
2026 2025
------------ -----------
Cash flows from operating activities
Net loss $ (24,342) $(25,782)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation and amortization 5,339 5,568
Stock-based compensation 10,936 3,684
Gain on receipt of nonmonetary tangible
assets -- (1,600)
Change in right-of-use assets 610 606
Change in warrant valuations and
cancellations -- 60
Other -- (110)
Changes in operating assets and
liabilities
Comments