Ambiq Micro, Inc.

What they do

Ambiq designs ultra-low-power semiconductor solutions and SoCs, including the Apollo family, that run AI models on power-constrained edge devices. It sells through distributors, resellers, and contracted sales representatives into end markets including wearables and other battery-powered intelligent devices. Its edge AI software stack includes heliaCORE, compressionKIT and the open-source heliaPROFILER tool that help customers deploy small, energy-efficient AI models on its SoCs. The company is headquartered at 6500 River Place Blvd., Austin, Texas, and had 24,184,536 shares outstanding as of August 7, 2026.

Revenue drivers

• Ultra-low-power SoCs (Apollo family) — The core revenue source: ultra-low-power system-on-chip products licensed and sold to OEM/end customers designing edge AI devices. Second quarter 2026 net sales were $33.9 million, up 89.7% year over year, on accelerating edge AI demand.
• Edge AI software stack — heliaCORE, compressionKIT and the open-source heliaPROFILER support and drive SoC adoption by lowering the effort to deploy small-footprint AI models. The company reports these as recently launched tools rather than a separately sized revenue line.
• Geographic distribution via channel — Revenue is generated through distributors, resellers and contracted sales representatives, and the company expected its mix of revenue by geography to shift; no segment-level revenue split is provided in the excerpts.

Recent performance

Second quarter 2026 net sales were $33.9 million, up 89.7% year over year and 35.3% quarter over quarter, which the company called a record. GAAP gross profit rose 112.9% year over year to $15.3 million and gross margin expanded 4.9 points to 45.0%, versus 40.1% a year earlier. GAAP operating expense was $24.0 million, up 50.3% year over year, and the net loss narrowed to $7.1 million from $8.5 million in the second quarter of 2025. Annual figures remain unprofitable: revenue was $76.1 million in 2024 and $72.5 million in 2025, with net losses of $39.7 million and $36.5 million, respectively.

Strategy

Management is positioning Ambiq around edge AI, expanding its software stack with heliaCORE, compressionKIT and heliaPROFILER to make AI model deployment easier on its Apollo SoCs. It completed an upsized public offering in June 2026, raising approximately $168 million in net proceeds to fund growth. It announced a dual listing on the Singapore Exchange Main Board under ticker AMQ to broaden investor reach in Asia. The company says it is acting to expand capacity to serve demand, while gross margin and operating expense remain the key levers it discusses.

Risks

• Supply constraints — Management stated that Ambiq and the broader semiconductor industry are facing supply constraints even as edge AI demand accelerates, which could limit its ability to convert demand into revenue.
• Customer concentration in channel — The company sells through distributors, resellers and contracted sales representatives and names loss of one or more significant end customers as a risk.
• Profitability and cash burn — Ambiq reported net losses of $39.7 million in 2024 and $36.5 million in 2025 and negative operating cash flow of $21.4 million and $19.7 million in those years, so it depends on its cash balance and capital markets access.
• Semiconductor cyclicality, tariffs and international operations — The company cites the cyclical nature of the semiconductor industry, dependence on international operations and third-party suppliers, and deterioration in economic factors from trade disputes or increased tariffs.

Outlook

Management guided third quarter 2026 net sales to $36.0 million to $37.0 million, which it said would be the sixth consecutive quarter of sequential growth. It expects demand to strengthen in the second half of 2026 and said it is on pace to more than double net sales in the second half of 2026 versus the prior-year period. Management said it is acting to expand capacity to support customers and capture the opportunity.