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--(BUSINESS WIRE)--May 12, 2026-- 

Ambiq Micro, Inc. ("Ambiq") $(AMBQ)$, 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$(TM)$, 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$(R)$ platform powering the upcoming Atomiq(R) 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(R) 
      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

 
                                                              Quarter 
GAAP             Three months   Three months   Three months     over      Year over 
(Unaudited; $     ended March       ended      ended March    quarter       year 
in thousands)         31,       December 31,       31,         change      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% 
                                                               0.8          -9.8 
Gross margin         43.5%          42.7%         53.3%        pts           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                                                    Quarter 
MEASURES*        Three months  Three months   Three months     over     Year over 
(Unaudited; $    ended March       ended      ended March    quarter      year 
in thousands)        31,       December 31,       31,         change     change 
                 ------------  -------------  ------------ 
                     2026          2025           2025 
                 ------------  -------------  ------------  ----------  --------- 
Non-GAAP Gross 
 profit          $11,577       $ 9,436        $ 7,412        22.7%       56.2% 
Non-GAAP Gross                                                0.7        -0.9 
 margin             46.2%         45.5%          47.1%        pts         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 Outlook(1)

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 

(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 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(R)), 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.

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