Ambiq Micro (AMBQ) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 2025 net sales of $20.7 million, exceeding guidance and driven by strong end-user demand and accelerated edge AI adoption.

• 2025 marked a milestone year with over 80% of shipped units running AI algorithms and significant expansion into wearables, medical, industrial, and smart building markets.

• Advanced product roadmap with launches including Atomiq, Apollo510 Lite, Apollo510B, Apollo330, Apollo340, and the Atomic family, plus new AI software tools.

• Completed an upsized IPO and follow-on offering, raising over $217 million and strengthening the balance sheet for growth initiatives.

• Entering 2026 with strong momentum, new leadership appointments, and a clear path to surpass $100 million in revenue.

Financial highlights

• Q4 2025 net sales reached $20.7 million, up 14.2% sequentially and 2% year-over-year, marking the highest quarter of FY25.

• Q4 non-GAAP gross margin was 45.5%, with non-GAAP gross profit of $9.4 million, up 75.5% year-over-year.

• Full-year 2025 non-GAAP gross profit increased 32.1% to $32.1 million, despite a 4.7% decline in net sales.

• Q4 non-GAAP net loss attributable to common stockholders was $5.9 million, improved from $7.5 million loss in Q4 2024.

• Ended Q4 with $140.3 million in cash and no debt; follow-on offering in Q1 2026 added $76.8 million.

Outlook and guidance

• Q1 2026 net sales expected between $21 million and $22 million, with non-GAAP gross margin projected at 44%-45%.

• Non-GAAP operating expense for Q1 2026 expected at $18-$18.5 million, including $1.7 million in IP purchases.

• Non-GAAP loss per share forecasted at $0.39-$0.33 for Q1 2026.

• Full-year 2026 OpEx to increase by ~$30 million, mainly for R&D, contract engineering, and IP purchases.

• Confident in surpassing $100 million in revenue for 2026, with strong growth expected across all quarters.