Ambiq Micro, Inc. (AMBQ)
NYSE:AMBQ
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Ambiq Micro, Inc.
(NYSE:AMBQ)
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Rating:69Neutral
Price Target:
$84.00
▲(141.66% Upside)
Action:Reiterated
Date:05/21/26
The score is driven primarily by strong technical momentum and a positive near-term outlook from the earnings call (accelerating revenue guidance and solid gross margins). This is tempered by weak underlying financial performance (ongoing losses and cash burn, plus the prior-year revenue collapse) and limited valuation support due to a negative P/E and no dividend data.
Positive Factors
Product-market fit: ultra-low-power SoCs for Edge AI/IoT
Ambiq's focus on ultra-low-power SoCs aligns with durable secular trends in wearables, edge AI and IoT. Consistent end-market demand and production ramps provide multi-quarter product pull-through and sticky OEM relationships, supporting sustainable revenue growth as devices prioritize battery life.
Negative Factors
Persistent negative cash flow
Ambiq continues to report negative operating and free cash flow, indicating the business is not yet self-funding. Even with improved burn in 2025, persistent outflows increase reliance on existing cash or external funding to sustain R&D and go‑to‑market investments, creating execution funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Product-market fit: ultra-low-power SoCs for Edge AI/IoT
Ambiq's focus on ultra-low-power SoCs aligns with durable secular trends in wearables, edge AI and IoT. Consistent end-market demand and production ramps provide multi-quarter product pull-through and sticky OEM relationships, supporting sustainable revenue growth as devices prioritize battery life.
Read all positive factors
Ambiq Micro, Inc. (AMBQ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.75B
Dividend YieldN/A
Average Volume (3M)212.10K
Price to Earnings (P/E)―
Beta (1Y)2.26
Revenue Growth6.86%
EPS Growth8.98%
CountryUS
Employees190
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-2.28
Shares Outstanding21,375,753
10 Day Avg. Volume117,866
30 Day Avg. Volume212,105
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)1.40
Price to Sales (P/S)3.14
P/FCF Ratio-10.81
Enterprise Value/Market Cap0.88
Enterprise Value/Revenue18.86
Enterprise Value/Gross Profit44.61
Enterprise Value/Ebitda-43.50
Forecast
1Y Price Target
$63.20Price Target Upside81.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.69
Revenue Forecast (FY)$100.83M
Ambiq Micro, Inc. Business Overview & Revenue Model
Company Description
Ambiq Micro, Inc. develops ultra-low-power integrated circuits for power-sensitive applications. It develops subthreshold power-optimized technology based on ultra-low-power real-time clock and microcontroller products for application in wearables...
How the Company Makes Money
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Ambiq Micro, Inc. Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Sep 03, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational picture with rapid revenue growth (Q1 sales +59.3% YoY), expanding product pipeline and meaningful customer diversification, supported by a healthy cash position. Key risks include continued non-GAAP losses, rising OpEx, industry-wide input cost pressure that keeps margins roughly flat, and occasional inability to satisfy very short lead-time orders. Overall momentum and visibility into significant near-term revenue acceleration outweigh the near-term margin and expense headwinds.Positive Updates
Strong Revenue Growth
Q1 net sales of $25.1 million, up 59.3% year-over-year, driven by broad-based demand for Edge AI and new customer production ramps.
Negative Updates
Ongoing Non-GAAP Net Loss
Q1 non-GAAP net loss of $5.0 million (non-GAAP net loss per share $0.25). Q2 non-GAAP loss per share guidance of $0.29 to $0.23, indicating continued near-term unprofitability.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Q1 net sales of $25.1 million, up 59.3% year-over-year, driven by broad-based demand for Edge AI and new customer production ramps.
Read all positive updates
Company Guidance
Guidance highlighted a strong Q1 to Q2 cadence and clear financial targets: Q1 net sales were $25.1M (+59.3% YoY) with non‑GAAP gross profit $11.6M (+56.2%) and a non‑GAAP gross margin of 46.2% (‑90 bps YoY, +210 bps ex‑one‑time credit); non‑GAAP R&D was $10.1M (+43.3%) and SG&A $8.1M (+31.8%), non‑GAAP net loss was $5.0M (‑$0.25/sh), cash was $204.5M with no debt. For Q2 management guided net sales of $31–32M (roughly +75% YoY), non‑GAAP gross margin of 45–46%, non‑GAAP operating expense of $21–22M (including ~$1.7M of IP purchases), and non‑GAAP loss per share of $0.29–0.23 on ~21.38M weighted shares. For 2026 they expect roughly flat YoY gross margins, ~ $85M of operating expense (including $7–10M of IP purchases), second‑half YoY revenue growth similar to the first half, and noted that at ~46% margin and ~$21M quarterly OpEx breakeven would be near ~$47M of revenue per quarter with profitability targeted by mid‑2028 (potentially as early as H2‑2027).Ambiq Micro, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 81.84M | 72.51M | 76.07M | 65.54M | 91.01M | 50.97M |
| Gross Profit | 34.60M | 25.70M | 24.29M | 19.44M | 30.77M | 21.57M |
| EBITDA | -35.48M | -33.93M | -34.37M | -43.61M | -21.85M | -18.29M |
| Net Income | -38.35M | -36.46M | -39.66M | -50.33M | -25.34M | -25.22M |
Balance Sheet | ||||||
| Total Assets | 259.52M | 184.68M | 104.28M | 72.43M | 105.13M | 99.68M |
| Cash, Cash Equivalents and Short-Term Investments | 204.53M | 140.28M | 60.98M | 27.32M | 25.92M | 65.05M |
| Total Debt | 2.14M | 678.00K | 966.00K | 1.02M | 0.00 | 0.00 |
| Total Liabilities | 24.36M | 22.22M | 18.53M | 13.30M | 16.12M | 7.38M |
| Stockholders Equity | 235.16M | 162.46M | 85.75M | 59.13M | 89.01M | 92.30M |
Cash Flow | ||||||
| Free Cash Flow | -35.77M | -21.03M | -25.16M | -29.98M | -57.50M | -39.23M |
| Operating Cash Flow | -32.27M | -19.69M | -21.43M | -26.96M | -52.88M | -34.64M |
| Investing Cash Flow | -10.35M | -7.44M | -3.73M | -3.02M | -4.62M | -4.59M |
| Financing Cash Flow | 185.68M | 106.38M | 58.84M | 31.77M | 18.20M | 94.06M |
Ambiq Micro, Inc. Risk Analysis
Ambiq Micro, Inc. disclosed 58 risk factors in its most recent earnings report. Ambiq Micro, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ambiq Micro, Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $79.90B | 10.55 | 26.14% | 1.79% | 2.37% | 13.28% | |
73 Outperform | $29.45B | 96.51 | 13.19% | ― | 27.05% | ― | |
69 Neutral | $1.75B | -12.74 | -24.03% | ― | 6.86% | 8.98% | |
67 Neutral | $7.17B | ― | -4.66% | ― | 25.14% | 70.00% | |
64 Neutral | $50.65B | 173.03 | 3.05% | 2.79% | 7.08% | ― | |
64 Neutral | $12.40B | 58.25 | 6.30% | 4.37% | 2.33% | -6.12% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
AMBQ
Ambiq Micro, Inc.
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86.25%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.