10-Q · May 12, 2026
Ambiq Micro, Inc. reported strong Q1 2026 results with revenues of $25.06 million, exceeding estimates and showing a 59.3% increase from Q1 2025. Despite a net loss of $10.17 million, the company expects continued…
Earnings analysis · 10-Q
AMBQ earnings analysis
Filed August 11, 2026 · Our reading of the company's report
The latest report
Ambiq reported Q2 revenue of $33.901 million, up 35.6% sequentially and 90% year over year, while gross margin improved to 45.0% from 43.5% in Q1 and 40.1% a year earlier. Non-GAAP EPS of $(0.07) beat the $(0.29)…
Read full summary
Ambiq reported Q2 revenue of $33.901 million, up 35.6% sequentially and 90% year over year, while gross margin improved to 45.0% from 43.5% in Q1 and 40.1% a year earlier. Non-GAAP EPS of $(0.07) beat the $(0.29) consensus estimate, although the company remains loss-making and Q3 non-GAAP operating expenses are expected at $24.0 million-$25.0 million. The $36.0 million-$37.0 million Q3 revenue outlook is above the prior $31.0 million-$32.0 million outlook, supporting a bullish trend, but supply constraints and continued operating losses remain material risks.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.07
- Gross margin
- 45.0%
What stood out
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Revenue accelerated and beat consensus
Q2 revenue was $33.901 million, up approximately 35.6% from $25 million in Q1 2026 and up 90% year over year. Revenue also exceeded the $31.510 million consensus estimate.
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Gross margin expanded materially
GAAP gross margin expanded to 45.0% from 43.5% in Q1 2026 and 40.1% a year earlier, an improvement of 150 basis points sequentially and 490 basis points year over year.
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Adjusted loss beat expectations
Non-GAAP EPS was $(0.07), versus the $(0.29) consensus estimate, a $0.22 per-share beat. EPS also improved from $(0.50) in Q1 2026.
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Q3 outlook points to continued growth
Management expects Q3 revenue of $36.0 million-$37.0 million, above the prior Q2 outlook of $31.0 million-$32.0 million, reflecting stronger edge-AI demand.
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No control deficiencies reported
The filing states that disclosure controls were effective at a reasonable assurance level as of June 30, 2026, and reports no material changes in internal control over financial reporting during the quarter.
What to watch
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Supply availability may limit growth
Management identified industry-wide supply availability as a constraint on growth, even as Q3 revenue is expected at $36.0 million-$37.0 million. The filing does not quantify the potential revenue impact of the constraint.
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Operating losses remain significant
The Q3 outlook includes non-GAAP operating expenses of $24.0 million-$25.0 million, indicating that the company remains heavily expense-loaded relative to its $36.0 million-$37.0 million revenue outlook and is still projecting a non-GAAP net loss per share of $(0.20)-$(0.12).
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Dual-listing and share-supply risks
The 10-Q adds risks associated with concurrent NYSE and SGX-ST trading, including transfer delays and costs. It also discloses officer trading plans covering 130,500 shares for the CEO, 84,000 shares for the CTO, and a COO plan that may sell 135,000 shares plus shares tied to 21,011 RSUs, which could increase trading supply and dilution concerns.
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Potential dilution for SGX holders
The filing states that CDP Depositors may be unable to participate in a U.S.-only follow-on offering or rights issue and could therefore face dilution. The COO's disclosed plan may sell up to 135,000 shares plus shares associated with 21,011 RSUs.
Management's outlook
Management's Q3 2026 outlook calls for revenue of $36.0 million-$37.0 million, non-GAAP gross margin of 46.5%-47.5%, non-GAAP operating expenses of $24.0 million-$25.0 million, and non-GAAP net loss per share of ($0.20)-($0.12). The Q3 revenue outlook is above the prior Q2 outlook of $31.0 million-$32.0 million; no additional numeric guidance was identified in the supplied 10-Q text.
Earlier filings 3
10-Q · November 6, 2025
Ambiq reported Q3 net sales of $18.165M and a gross margin of 42.3%, with a GAAP operating loss of $10.0M and diluted loss per share of $(0.72). Revenue declined vs. the year-ago quarter (from $20.266M to $18.165M) but…
10-Q · September 4, 2025
Ambiq reported quarterly net sales of $17.873M and a net loss of $8.496M (EPS -$18.89) for the three months ended June 30, 2025. Revenue declined vs. the prior-year quarter but gross margin expanded sharply (40.1% vs.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.