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 quarter net sales of $36.0 million to $37.0 million, which would represent the sixth consecutive quarter of sequential growth

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

Second Quarter 2026 and Recent Highlights

• Delivered strong net sales on growing edge AI demand momentum: Net sales increased approximately 90%, year-over-year, driven by accelerating edge AI demand across customers, end markets and products.
• Gross profit outpaced net sales growth: GAAP gross profit increased approximately 113% and non-GAAP gross profit increased approximately 109% year-over-year, with GAAP gross margin and non-GAAP gross margin expanding by 490 basis points and 450 basis points respectively.
• Enhanced financial flexibility to capitalize on growth opportunities ahead: Completed an upsized public offering in June, raising approximately $168 million in net proceeds.
• Expanded edge AI software stack: Launched heliaCORE and compressionKIT to accelerate customers' deployment of small footprint and energy efficient AI models on the Apollo SoC families. We also announced heliaPROFILER, a new open-source profiling tool that speeds customers' AI model development.
• Strengthened global capital markets access: Announced a dual listing on the Singapore Exchange Main Board under ticker AMQ, expanding investor reach across Asia and reinforcing our long-term growth strategy in the global semiconductor market.

Management Commentary

“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,” said 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."

Summary of Second Quarter 2026 Results

Third Quarter Business Outlook1

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

• Net sales within a range of $36.0 million to $37.0 million, reflecting accelerating demand for edge AI, partially constrained by industry-wide supply availability
• Non-GAAP gross margin between 46.5% and 47.5%, driven by favorable mix and manufacturing efficiencies
• Non-GAAP operating expense of $24.0 million to $25.0 million, reflecting investments to support product development and our strategic growth priorities, including planned intellectual property investments
• Non-GAAP net loss per share within a range of ($0.20) to ($0.12) based on a weighted average share count of 24.17 million shares outstanding

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 195766563. 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®) and the HELIA™ AI platform, 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.

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, 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 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 third quarter business 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.

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)

June 30,

December 31,

2026

2025

Assets

Current assets:

Cash and cash equivalents

$

366,774

$

140,275

Accounts receivable, net

17,528

7,286

Inventories

29,365

16,937

Prepaid expenses and other current assets

2,958

3,421

Total current assets

$

416,625

$

167,919

Property, equipment and software, net of accumulated depreciation and amortization of $15,480 and $14,632, respectively

4,328

4,137

Right-of-use assets, net

3,244

638

Intangible assets, net of accumulated amortization of $13,469 and $10,752, respectively

10,224

11,593

Other assets

1,201

393

Total assets

$

435,622

$

184,680

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

$

10,615

$

8,577

Accrued and other current liabilities

14,469

10,201

Short-term lease liabilities

1,034

400

Total current liabilities

$

26,118

$

19,178

Long-term lease liabilities

3,549

278

Other long-term liabilities

1,283

2,765

Total liabilities

$

30,950

$

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