Ambiq Micro, Inc. (“Ambiq”), a technology leader in ultra-low-power semiconductor solutions for edge AI, announced financial results for the second quarter of 2025.
Second Quarter and Recent Highlights
- Net sales increased 13.6% sequentially to $17.9 million
- Expanded its Apollo5 System-on-Chip (SoC) family with introduction of the Apollo510B wireless SoC for power-constrained edge AI applications
- Received Frost & Sullivan’s 2025 Global Company of the Year Award for its leadership in Healthcare Semiconductor Solutions
- Successfully completed an upsized IPO of 4,600,000 shares of common stock at a price of $24.00 per share, including the full exercise of the underwriters’ option to purchase additional shares, generating net proceeds of $97.2 million
Management Commentary
“Our recently completed IPO represents the next chapter of Ambiq’s journey leading the edge AI revolution and bringing intelligence to edge devices,” commented Fumihide Esaka, CEO of Ambiq. “Second quarter net sales increased 13.6% sequentially, reflecting solid customer demand for our highly differentiated technology platform. Ambiq’s ultra-low power solutions have been incorporated into more than 280 million edge devices to-date, and we are well positioned to capitalize on the rapid growth of edge AI applications.
“One of our top priorities is the continued expansion of our technical innovation and product development roadmap. As evidence of our progress, we recently announced the expansion of our successful Apollo5 product family with the introduction of the Apollo510B wireless SoC. This solution integrates a low-power Bluetooth® radio, making it an ideal solution for always-on, connected edge devices.”
Mr. Esaka concluded by stating, “Looking ahead, our well-received IPO provides us with the additional capital necessary to accelerate our strategic initiatives that include broadening our customer base as well as penetrating new end markets and geographies in support of driving long-term profitable growth.”
Second Quarter 2025 Financial Results
Total net sales for the second quarter of 2025 was $17.9 million, compared to $15.7 million in the first quarter of 2025 and $20.3 million in the second quarter of 2024. The sequential increase in second quarter revenue was driven by increased customer demand and favorable product mix. The year-over-year decrease in net sales reflected Ambiq’s strategic decision to diversify revenue toward higher value opportunities in geographies outside of China. In the second quarter of 2025, net sales to end customers in Mainland China were 11.5%, as compared to 42.0% in the second quarter of 2024.
Gross profit for the second quarter of 2025 was $7.2 million, or 40.1% of revenue, compared to $8.4 million, or 53.3% of revenue, in the first quarter of 2025 and $6.4 million, or 31.7% of revenue, in the second quarter of 2024. Non-GAAP gross profit for the second quarter was $7.6 million, or 42.7% of revenue, compared to $7.4 million, or 47.1% of revenue, in the first quarter of 2025 and $6.7 million, or 32.9% of revenue, in the second quarter of 2024. The sequential and year-over-year increase in non-GAAP gross profit for the second quarter of 2025 was primarily driven by a more favorable product and customer mix as Ambiq continued to execute on its strategic prioritization of geographies outside of China.
Operating expenses for the second quarter of 2025 were $16.0 million, compared to $17.1 million in the first quarter of 2025 and $17.4 million in the second quarter of 2024. Non-GAAP operating expenses for the second quarter of 2025 were $13.8 million, compared to $13.1 million in the first quarter of 2025 and $14.4 million in the second quarter of 2024.
Net loss for the second quarter of 2025 was $8.5 million, or ($18.89) per share, based on 449,785 weighted-average shares outstanding. This compares to a net loss of $8.3 million, or ($18.96) per share, in the first quarter of 2025, and net loss of $10.6 million, or ($34.59) per share, in the second quarter of 2024. The per share amounts have been adjusted to reflect a 1-for-28 reverse stock split that was effected prior to the Company’s IPO. Second quarter non-GAAP net loss was $5.9 million compared to non-GAAP net loss of $5.2 million in the first quarter of 2025, and non-GAAP net loss of $7.4 million in the second quarter of 2024. The loss per share in the second quarter of 2025 was $(0.43) based on unaudited, pro forma common shares of 13.6 million as disclosed in the Company’s prospectus.
Balance Sheet
Total cash and cash equivalents were $47.5 million as of June 30, 2025. Subsequent to the end of the second quarter, Ambiq completed its IPO and received net proceeds of $97.2 million from the issuance and sale of 4.6 million shares of common stock.
Third Quarter Business Outlook
Ambiq’s current expectations for the third quarter of 2025 ending September 30, 2025, include the following:
- Net sales within a range of $17.5 million to $18.0 million
- Non-GAAP loss per share within a range of ($0.35) to ($0.28) based on unaudited pro forma common shares of approximately 18.2 million as disclosed in the Company’s prospectus.
For more information visit ambiq.com.
