Ambiq Micro, Inc. (AMBQ) SEC Filings & Earnings Calls

Supply constraints may limit revenue growth and delay customer deliveries.

“Given the rapid acceleration in AI demand, we and the broader semiconductor industry are facing supply constraints.” · word for word

Company is still loss-making; net loss of $7.1M in Q2 2026.

“Net loss ($7,115) for Q2 2026.”

Customer concentration

“Our top three end customers collectively represented approximately 78% and 75% of our total net sales for the three and six months ended June 30, 2026, respectively.” · word for word

Geopolitical risk in Mainland China

“Given geopolitical concerns, subsidized competitors creating a price sensitive environment in Mainland China and our desire to service new markets in medical/healthcare, industrial edge and smart home and buildings, we continue to prioritize our management and sales efforts toward other meaningful geographies.” · word for word

Single-source wafer supply

“Additionally, we source all of our wafers from TSMC, located in Taiwan. Deterioration in the political, social, business or economic conditions in the jurisdictions in which TSMC or other suppliers operate could slow or halt product shipments or disrupt our ability to manufacture, package, test or post-process products.” · word for word

Operating losses and negative cash flow

“We have historically incurred losses and negative cash flows from operations and anticipate continuing to incur losses as we heavily invest in product development.” · word for word

Semiconductor industry cyclicality

“The semiconductor industry is highly cyclical and is characterized by constant and rapid technological change, rapid product obsolescence, price erosion, evolving standards, short product life cycles and wide fluctuations in product supply and demand.” · word for word

Customer concentration

“Our top three end customers collectively represented 71% of our total net sales for the three months ended March 31, 2026.” · word for word

Supply chain concentration (TSMC)

“We source all of our wafers from TSMC, located in Taiwan.” · word for word

Gross margin pressure

“Gross margin decreased 980 basis points primarily due to a non-monetary gain of $1.6 million in the first quarter of 2025, which did not repeat during the first quarter of 2026.” · word for word

Customer concentration remains high despite improvement.

“Top 3 customers accounted for 71% of net sales in Q1 2026.”

Net loss persists; operating expenses growing faster than gross profit.

“Net loss $(10.2M) in Q1 2026; operating expenses +31.8% YoY vs gross profit +29.8%.”

Net loss persists despite margin improvement; operating expenses growing faster than revenue.

“GAAP net loss $10.7M in Q4 2025; operating expense increased 35% YoY.”

Customer concentration risk

“Our largest end customer historically has accounted for a large portion of our sales, representing approximately 35.6% and 40.9% of our net sales for the years ended December 31, 2025 and 2024 respectively.” · word for word

History of net losses

“We incurred a net loss of $36.5 million and $39.7 million for the years ended December 31, 2025 and 2024 respectively.” · word for word

Single-source wafer supply

“We contract with TSMC to produce semiconductor wafers.” · word for word

No long-term customer commitments

“We do not have long-term commitments from our end customers, and our end customers may cease purchasing our products at any time.” · word for word

Preliminary results subject to change; audit not yet complete

“These results are preliminary and subject to change ... the Company's independent registered public accounting firm ... has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures” · word for word

Customer concentration

“There were three end customers representing 41%, 26% and 21%, respectively, of total net sales for the three months ended September 30, 2025.”

China revenue dependency

“China net sales $1,223 vs $10,107 for three months ended September 30, 2025 and 2024.”

Operating losses and cash burn

“Net loss $9,002 for three months ended September 30, 2025; operating cash flow deficit $15.6M for nine months.”

Still loss-making; net loss improved but remains significant relative to revenue.

“GAAP net loss $9.0M on revenue $18.2M; non-GAAP net loss $4.0M.”