Ambiq Micro (AMBQ) Q2 2026 earnings summary

Executive summary

• Net sales surged approximately 90% year-over-year in Q2 2026, driven by strong edge AI demand and new product launches, marking five consecutive quarters of sequential growth.

• Gross profit more than doubled year-over-year, with non-GAAP gross margin expanding to 47.2% and GAAP gross margin reaching 45.0%.

• Raised $168 million in net proceeds from a June follow-on/public offering, with total 2026 equity proceeds of $243.2 million, strengthening cash reserves to $366.8 million.

• Industry-wide supply constraints are limiting near-term growth, but actions are underway to secure additional capacity and support sustainable expansion.

• Product innovation and expansion into medical, industrial, and smart home markets are accelerating diversification, with dual listing on the Singapore Exchange to broaden investor reach.

Financial highlights

• Q2 2026 net sales reached $33.9 million, up 89.7% year-over-year, with gross profit of $16.0 million (non-GAAP) and $15.3 million (GAAP).

• Non-GAAP gross margin was 47.2%, up 450 basis points year-over-year; GAAP gross margin was 45.0%.

• Non-GAAP net loss was $1.8 million, or $0.07 per share, a significant improvement year-over-year.

• Cash and cash equivalents totaled $366.8 million at quarter end, up from $140.3 million at year-end 2025.

• Revenue outside the top three customers grew 143% year-over-year; China accounted for 13.7% of Q2 2026 sales.

Outlook and guidance

• Q3 2026 net sales expected between $36.0 million and $37.0 million, with non-GAAP gross margin of 46.5%–47.5%.

• Full-year 2026 net sales guidance raised to approximately $135 million, nearly doubling year-over-year.

• Non-GAAP operating expense for Q3 projected at $24–$25 million; full-year OpEx expected at $85 million, including $7–$10 million in IP purchases.

• Non-GAAP net loss per share for Q3 expected between $0.20 and $0.12.

• Cash on hand and anticipated cash from operations are expected to be sufficient to finance operations for at least the next twelve months.