Ambiq Micro, Inc. (AMBQ): Results of Operations and Financial Condition
Ambiq Micro, Inc. (AMBQ) filed an SEC Form 8-K — Results of Operations and Financial Condition. Ambiq Reports Second Quarter 2026 Financial Results Delivered record quarterly net sales, increasing approximately 90% year-over-year, driven by strong demand for edge AI solutions Gross profit more than doubled year-over-year on higher net sales and margin expansion Expect third
How this was made
The 30-second read
Why it matters
Traders can update models immediately using the reported Q2 growth/margins and the explicit Q3 revenue and non-GAAP margin and expense ranges. The upsized public offering and Singapore dual listing add incremental capital and potential investor-access effects.
Market read
A fresh earnings and guidance print for a small-cap edge AI semiconductor, with explicit Q3 ranges and margin outlook.
What to watch
Guidance is partially constrained by industry-wide supply availability, and non-GAAP results may mask underlying cash burn dynamics that matter for valuation.
Ambiq Reports Second Quarter 2026 Financial Results Delivered record quarterly net sales, increasing approximately 90% year-over-year, driven by strong demand for edge AI solutions
Net sales increased 89.7% year-over-year and 35.3% quarter-over-quarter, while GAAP and non-GAAP gross margins expanded. Third-quarter net-sales guidance calls for a sixth consecutive quarter of sequential growth, although management cited industry-wide supply constraints and operating expenses remain above gross profit.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net salesGAAP | $ 33,901 | 35.3 % | 89.7 % |
| Gross profitGAAP | $ 15,267 | 40.2 % | 112.9 % |
| Gross marginGAAP | 45.0 % | 1.5 pts | 4.9 pts |
| Operating expenseGAAP | $ 23,994 | 6.3 % | 50.3 % |
| Net lossGAAP | $ (7,115 ) | $ 3,056 | $ 1,381 |
| Non-GAAP Gross profitnon-GAAP | $ 15,989 | 38.1 % | 109.3 % |
| Non-GAAP Gross marginnon-GAAP | 47.2 % | 1.0 pts | 4.5 pts |
| Non-GAAP Operating expensenon-GAAP | $ 19,374 | 6.8 % | 40.2 % |
| Non-GAAP Net lossnon-GAAP | $ (1,772 ) | $ 3,274 | $ 4,090 |
quarter ending September 30, 2026 outlook
- RevenueNet sales within a range of $36.0 million to $37.0 million
- Gross marginNon-GAAP gross margin between 46.5% and 47.5%
- Operating expensesNon-GAAP operating expense of $24.0 million to $25.0 million
- NoteNon-GAAP net loss per share within a range of ($0.20) to ($0.12)
- Notebased on a weighted average share count of 24.17 million shares outstanding
- NoteNet sales guidance reflects accelerating demand for edge AI, partially constrained by industry-wide supply availability.
- NoteNon-GAAP gross-margin guidance is driven by favorable mix and manufacturing efficiencies.
- NoteNon-GAAP operating-expense guidance reflects investments to support product development and strategic growth priorities, including planned intellectual property investments.
What drove it
- Net sales growth was driven by accelerating edge AI demand across customers, end markets and products.
- GAAP gross profit and non-GAAP gross profit growth reflected higher net sales and margin expansion.
- Management cited favorable mix and manufacturing efficiencies as drivers of third-quarter non-GAAP gross-margin guidance.
- The company launched heliaCORE and compressionKIT and announced heliaPROFILER to support deployment and development of small-footprint, energy-efficient AI models.
- Management stated it is expanding capacity to support customers and address the edge AI opportunity.
Concerns
- Management stated that Ambiq and the broader semiconductor industry are facing supply constraints.
- Third-quarter net-sales guidance is partially constrained by industry-wide supply availability.
- GAAP net loss was $ (7,115 ) and non-GAAP net loss was $ (1,772 ).
- Third-quarter non-GAAP operating-expense guidance reflects investment in product development, strategic growth priorities and planned intellectual property investments.
What to watch
- Execution against third-quarter net-sales guidance of $36.0 million to $37.0 million.
- Whether industry-wide supply availability continues to constrain net sales.
- Progress toward the guided non-GAAP gross-margin range of 46.5% to 47.5%.
- The pace and impact of product-development and intellectual-property investments reflected in guided non-GAAP operating expense of $24.0 million to $25.0 million.
- Management's capacity-expansion actions and stated expectation that demand will strengthen in the second half of the year.
Balance sheet and cash flow
- Cash and cash equivalents: $ 366,774 as of June 30, 2026, compared with $ 140,275 as of December 31, 2025 (in thousands).
- Accounts receivable, net: 17,528 as of June 30, 2026, compared with 7,286 as of December 31, 2025 (in thousands).
- Inventories: 29,365 as of June 30, 2026, compared with 16,937 as of December 31, 2025 (in thousands).
- Prepaid expenses and other current assets: 2,958 as of June 30, 2026, compared with 3,421 as of December 31, 2025 (in thousands).
- Total current assets: $ 416,625 as of June 30, 2026, compared with $ 167,919 as of December 31, 2025 (in thousands).
- Property, equipment and software, net: 4,328 as of June 30, 2026, compared with 4,137 as of December 31, 2025 (in thousands).
- Property, equipment and software accumulated depreciation and amortization: $15,480 and $14,632, respectively.
- Completed an upsized public offering in June, raising approximately $168 million in net proceeds.
Analysis
Second-quarter net sales were $ 33,901, up 89.7 % year-over-year and 35.3 % quarter-over-quarter. Management attributed the increase to accelerating edge AI demand across customers, end markets and products. The company characterized the result as record quarterly net sales and its fifth consecutive quarter of growth.
Gross profit grew faster than net sales. GAAP gross profit was $ 15,267, up 112.9 %, and GAAP gross margin reached 45.0 %, up 4.9 pts year-over-year and 1.5 pts quarter-over-quarter. Non-GAAP gross profit was $ 15,989, up 109.3 %, while non-GAAP gross margin was 47.2 %, up 4.5 pts year-over-year and 1.0 pts quarter-over-quarter. The reported margin improvement is consistent with higher sales and the company's outlook for favorable mix and manufacturing efficiencies.
Operating expenses continued to rise as Ambiq invests for growth. GAAP operating expense was $ 23,994, up 50.3 % year-over-year and 6.3 % quarter-over-quarter, while non-GAAP operating expense was $ 19,374, up 40.2 % and 6.8 %, respectively. Losses narrowed versus both comparison periods: GAAP net loss was $ (7,115 ) and non-GAAP net loss was $ (1,772 ). The company also completed an upsized public offering in June that raised approximately $168 million in net proceeds, and cash and cash equivalents were $ 366,774 as of June 30, 2026.
For the quarter ending September 30, 2026, Ambiq expects net sales of $36.0 million to $37.0 million and describes that range as its sixth consecutive quarter of sequential growth. It guided non-GAAP gross margin to 46.5% to 47.5%, non-GAAP operating expense to $24.0 million to $25.0 million, and non-GAAP net loss per share to ($0.20) to ($0.12). The central execution issue identified by management is supply availability: demand is accelerating, but industry-wide supply constraints are expected to partially limit third-quarter sales.
The quarter also included software-stack expansion through heliaCORE, compressionKIT and heliaPROFILER, alongside a stated capacity-expansion response to demand. Investors should focus on whether the company can convert stated demand into guided revenue amid supply constraints, maintain the improved gross-margin profile, and manage operating-expense growth while funding product development and intellectual-property priorities.
Management, verbatim
Since the start of the year, we have seen a step-change in demand, further reinforcing our belief in the scale and durability of the edge AI opportunity. That momentum drove our net sales up approximately 90% year over year, marking our fifth consecutive quarter of growth, and we expect demand to strengthen even further in the second half of the year.
Fumihide Esaka, CEO of Ambiq
Given the rapid acceleration in AI demand, we and the broader semiconductor industry are facing supply constraints. Even with this, we are on pace to more than double net sales in the second half of 2026 compared to last year. We are acting decisively to expand capacity, support our customers and capture the full opportunity we see to enable the next generation of intelligent edge products.
Fumihide Esaka, CEO of Ambiq
Not in the filing
stated, not guessed- GAAP operating income or loss was not reported in the provided text.
- GAAP earnings or loss per share and non-GAAP earnings or loss per share for the reported second quarter were not reported in the provided text.
- Operating cash flow and free cash flow were not reported in the provided text.
- Debt, total liabilities, total assets, and stockholders' equity were not available because the balance-sheet excerpt is truncated.
- Capital returns, including share repurchases and dividends, were not reported in the provided text.
- Revenue by reportable segment was not reported in the provided text.
- Prior-quarter outlook was not provided, so no comparison of actual results with prior guidance is available.
- Tax-rate guidance was not reported.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC Form 8-K (Item 2.02) with Ambiq’s Q2 2026 financial results and Q3 2026 business outlook, plus updates on financing and listing strategy.
Ticker impact
Ambiq reported Q2 2026 net sales up ~90% YoY, expanded gross margins, and guided Q3 net sales to $36.0M-$37.0M.
Likely positive bias for the next session and into Q3 as traders price in accelerating edge AI demand and margin expansion, tempered by supply constraints and continued net losses.
The article includes specific, time-sensitive GAAP and non-GAAP results, explicit Q3 revenue and margin ranges, and a newly completed upsized public offering with net proceeds.
Market effects
Reinforces demand strength for ultra-low-power edge AI semiconductors and highlights ongoing industry supply constraints.
Dual listing on Singapore Exchange may broaden Asia investor participation and improve liquidity/coverage.
Signals continued global capital markets access and investor reach for a niche AI chip supplier.
Counterpoint
Despite strong revenue growth and margin expansion, Ambiq still reported GAAP net losses, so the stock may remain sensitive to any demand or supply shortfall.
Key entities
- companyAmbiq Micro, Inc.
Ultra-low-power semiconductor company reporting Q2 2026 results and issuing Q3 2026 guidance.
- venueSingapore Exchange Main Board
Ambiq announced a dual listing under ticker AMQ to expand investor reach across Asia.
