Revenue growth reached 59.3% in 2026Q1, yet the company continues to struggle with profitability as evidenced by a -46.6% operating margin.
| Sales/Revenue | 81.84M | 72.51M | 76.07M | 65.54M | 91.01M | 50.97M |
| Revenue Growth % | - | -4.67% | 16.07% | -27.99% | 78.54% | - |
| Cost of Goods Sold | 47.24M | 46.82M | 51.78M | 46.1M | 60.24M | 29.4M |
| COGS % of Revenue | - | 64.57% | 68.07% | 70.34% | 66.19% | 57.68% |
| Gross Profit | 34.6M | 25.7M | 24.29M | 19.44M | 30.77M | 21.57M |
| Gross Margin % | 42.28% | 35.43% | 31.93% | 29.66% | 33.81% | 42.32% |
| Gross Profit Growth % | - | 5.78% | 24.95% | -36.81% | 42.61% | - |
| Operating Expenses | 77.07M | 66.84M | 64.9M | 70.76M | 55.87M | 41.79M |
| OpEx % of Revenue | - | 92.17% | 85.32% | 107.97% | 61.39% | 81.98% |
| Selling, General & Admin | 34.44M | 33.15M | 27.74M | 26.74M | 19.13M | 14M |
| SG&A % of Revenue | - | 45.72% | 36.46% | 40.81% | 21.01% | 27.47% |
| Research & Development | 42.63M | 33.69M | 37.17M | 44.02M | 36.11M | 27.79M |
| R&D % of Revenue | - | 46.45% | 48.86% | 67.17% | 39.67% | 54.51% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 636K | 0 |
| Operating Income | -42.47M | -41.14M | -40.61M | -51.32M | -25.1M | -20.21M |
| Operating Margin % | -51.89% | -56.74% | -53.39% | -78.31% | -27.58% | -39.66% |
| Operating Income Growth % | - | -1.31% | 20.87% | -104.46% | -24.17% | - |
| EBITDA | -35.48M | -33.93M | -34.37M | -43.61M | -22.49M | -18.29M |
| EBITDA Margin % | -43.35% | -46.79% | -45.18% | -66.54% | -24.71% | -35.88% |
| EBITDA Growth % | - | 1.28% | 21.19% | -93.89% | -22.96% | - |
| D&A (Non-Cash Add-back) | 6.99M | 7.21M | 6.25M | 7.72M | 2.61M | 1.93M |
| EBIT | -42.47M | -41.14M | -40.61M | -51.32M | -24.46M | -20.21M |
| Net Interest Income | 0 | 0 | 0 | 0 | 43K | -4.58M |
| Interest Income | 0 | 0 | 0 | 0 | 43K | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 4.58M |
| Other Income/Expense | 4.16M | 4.72M | 980K | 1.02M | -216K | -4.98M |
| Pretax Income | -38.31M | -36.42M | -39.63M | -50.3M | -25.32M | -25.2M |
| Pretax Margin % | -46.81% | -50.23% | -52.1% | -76.75% | -27.82% | -49.43% |
| Income Tax | 39K | 40K | 28K | 30K | 25K | 25K |
| Effective Tax Rate % | -0.1% | -0.11% | -0.07% | -0.06% | -0.1% | -0.1% |
| Net Income | -38.35M | -36.46M | -39.66M | -50.33M | -25.34M | -25.22M |
| Net Margin % | -46.86% | -50.28% | -52.14% | -76.8% | -27.85% | -49.48% |
| Net Income Growth % | - | 8.07% | 21.2% | -98.61% | -0.48% | - |
| Net Income (Continuing) | -38.35M | -36.46M | -39.66M | -50.33M | -25.34M | -25.22M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.88 | -4.57 | -3.13 | -5.00 | -0.10 | -1.85 |
| EPS Growth % | - | -46.01% | 37.4% | -4900% | 94.59% | - |
| EPS (Basic) | - | -4.57 | -3.13 | -5.00 | -0.10 | -1.85 |
| Diluted Shares Outstanding | 20.4M | 7.98M | 13.61M | 10.45M | 248.89M | 13.61M |
| Basic Shares Outstanding | 20.4M | 7.98M | 13.54M | 10.45M | 248.89M | 13.61M |
| Dividend Payout Ratio | - | - | - | - | - | - |
High Operating Cash Burn
According to the most recent quarterly data, Ambiq's revenue growth reached 59.3% in 2026Q1, marking a significant departure from the low single-digit growth observed in early 2025 and suggesting a potential inflection in design win conversions within the wearable and IoT end-markets.
The sharp uptick in top-line performance indicates that the company may be successfully scaling its Apollo and Atomiq product families into mass production. Investors should monitor whether this growth is sustainable or if it reflects a lumpy, project-based revenue recognition pattern typical of semiconductor design cycles.
As reported in financial statements, Ambiq's gross margin profile has fluctuated significantly, ranging from a low of 17.2% in 2024Q4 to a recovery of 43.5% in 2026Q1, highlighting the sensitivity of the company's cost structure to foundry pricing and product mix shifts.
The inconsistency in gross margins suggests that the company lacks the pricing power of more established peers, leaving it vulnerable to wafer cost fluctuations. The recent expansion toward 43.5% appears encouraging, yet it warrants further investigation into whether this is driven by higher-margin AI-enabled chip sales or temporary manufacturing efficiencies.
Based on reported figures, Ambiq continues to operate with deeply negative margins, as evidenced by the -46.6% operating margin in 2026Q1, which indicates that the company's R&D and SG&A expenses are currently scaling in lockstep with, or faster than, its gross profit generation.
The persistent operating losses suggest that the company is prioritizing aggressive R&D investment to maintain its subthreshold technology lead over achieving near-term profitability. Without a significant shift in operating leverage, the company may remain reliant on external capital to fund its ongoing development of the Atomiq platform.
Analysis of the income statement reveals that R&D expenses consistently consume a substantial portion of revenue, with 2026Q1 R&D spend of $12.8M representing over 50% of total revenue, underscoring the high-cost nature of maintaining proprietary subthreshold circuit libraries.
The company's expense discipline appears secondary to its technical roadmap, as management continues to prioritize innovation over immediate bottom-line results. This heavy reliance on R&D suggests that the firm's competitive moat is expensive to maintain and requires continuous, high-level investment to prevent obsolescence in the fast-moving IoT sector.
Quick answers to the most common questions about buying AMBQ stock.
For fiscal year 2025, Ambiq Micro, Inc. (AMBQ) reported total revenue of $72.5M. This represents a 42.3% increase compared to $51.0M in 2020.
Ambiq Micro, Inc. (AMBQ) reported a net loss of $36.5M for the fiscal year ending 2025.
Ambiq Micro, Inc. (AMBQ) reported an operating income of $-41.1M, resulting in an operating profit margin of -56.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Ambiq Micro, Inc. (AMBQ) generated $25.7M in gross profit for the year, representing a gross profit margin of 35.4%. This demonstrates the company's core pricing power and production efficiency.