Ambiq Micro, Inc. (AMBQ)
NYSE:AMBQ
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Ambiq Micro, Inc.
(NYSE:AMBQ)
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Rating:56Neutral
Price Target:
$42.00
▲(20.83% Upside)
Action:ReiteratedDate:05/02/26
The score is held back primarily by weak profitability and ongoing cash burn despite a strong, low-leverage balance sheet. Technicals show an uptrend but are overbought, while valuation is difficult to support with a negative P/E and no dividend. The latest earnings call adds support via margin progress, product/customer momentum, and strong liquidity, but elevated planned spending and guidance visibility risks temper the outlook.
Positive Factors
Strong cash runway and minimal leverage
A debt-free balance sheet and roughly $217M of reported cash after the follow-on materially extend runway and reduce near-term refinancing risk. This durable capital buffer supports planned R&D, IP buys and customer ramps over the next several quarters without immediate reliance on capital markets.
Negative Factors
Persistent negative cash flow
Ongoing negative operating and free cash flow signal the business is not yet self-sustaining and will consume cash as it scales. Even with a larger cash balance, continued burn ties funding to execution milestones and leaves sustainability sensitive to slower-than-expected customer ramps.
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Positive Factors
Negative Factors
Strong cash runway and minimal leverage
A debt-free balance sheet and roughly $217M of reported cash after the follow-on materially extend runway and reduce near-term refinancing risk. This durable capital buffer supports planned R&D, IP buys and customer ramps over the next several quarters without immediate reliance on capital markets.
Read all positive factors
Ambiq Micro, Inc. (AMBQ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$862.93M
Dividend YieldN/A
Average Volume (3M)212.10K
Price to Earnings (P/E)―
Beta (1Y)2.30
Revenue Growth-4.67%
EPS Growth14.76%
CountryUS
Employees190
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-2.39
Shares Outstanding21,364,914
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 Cap0.84
Enterprise Value/Revenue9.98
Enterprise Value/Gross Profit28.15
Enterprise Value/Ebitda-23.43
Forecast
1Y Price Target
$42.33Price Target Upside21.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-1.69
Revenue Forecast (FY)$100.81M
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:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call presented strong operational and technological momentum: record quarterly sales, meaningful gross profit and margin expansion, strengthened cash and capitalization, validated product and software progress (including an advanced FinFET-based Atomic family), and diversified customer engagement with increasing edge AI adoption. Offsetting these positives are a modest full-year revenue decline, continued non-GAAP losses, and a substantial planned increase in operating expenses (including project-timed IP and contract engineering spend) that introduce near-term margin and cash-flow risks. Management expressed high confidence in 2026 demand and long-term growth, but there is some short-term visibility ambiguity tied to guidance and the timing of customer ramps and investment outlays.Positive Updates
Highest Quarterly Net Sales in 2025
Q4 net sales of $20.7 million, up 2% year-over-year and up 14.2% sequentially, representing the company’s highest net sales quarter of 2025 and exceeding guidance.
Negative Updates
Full-Year Revenue Decline
Full-year net sales declined 4.7% year-over-year in 2025 despite higher gross profit dollars, indicating near-term revenue contraction against which margin gains were achieved.
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Q4-2025 Updates
Positive
Negative
Highest Quarterly Net Sales in 2025
Q4 net sales of $20.7 million, up 2% year-over-year and up 14.2% sequentially, representing the company’s highest net sales quarter of 2025 and exceeding guidance.
Read all positive updates
Company Guidance
Ambiq’s 2026 guidance called for net sales of $21.0–$22.0 million, non‑GAAP gross margin of 44–45%, and non‑GAAP operating expense of $18.0–$18.5 million, implying non‑GAAP loss per share of $0.39–$0.33 on a weighted average share count of 20.38 million; management said full‑year OpEx will be roughly $30 million higher than 2025 (including $7–$10 million of IP purchases) with project‑based spending skewed to Q2–Q3, and noted gross margins could be affected by broader fab and supply‑chain cost dynamics—all while growth is expected to be driven by new model launches, a scaled global customer ramp, higher volumes and broader Apollo 5 adoption; the company ended the quarter with $140.3 million cash, no debt, and completed a follow‑on that raised an additional $76.8 million.Ambiq Micro, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 72.51M | 76.07M | 65.54M | 91.01M | 50.97M |
| Gross Profit | 25.70M | 24.29M | 19.44M | 30.77M | 21.57M |
| EBITDA | -30.88M | -34.37M | -43.61M | -21.85M | -18.29M |
| Net Income | -36.46M | -39.66M | -50.33M | -25.34M | -25.22M |
Balance Sheet | |||||
| Total Assets | 184.68M | 104.28M | 72.43M | 105.13M | 99.68M |
| Cash, Cash Equivalents and Short-Term Investments | 140.28M | 60.98M | 27.32M | 25.92M | 65.05M |
| Total Debt | 678.00K | 966.00K | 1.02M | 0.00 | 0.00 |
| Total Liabilities | 22.22M | 18.53M | 13.30M | 16.12M | 7.38M |
| Stockholders Equity | 162.46M | 85.75M | 59.13M | 89.01M | 92.30M |
Cash Flow | |||||
| Free Cash Flow | -21.03M | -25.16M | -29.98M | -57.50M | -39.23M |
| Operating Cash Flow | -19.69M | -21.43M | -26.96M | -52.88M | -34.64M |
| Investing Cash Flow | -7.44M | -3.73M | -3.02M | -4.62M | -4.59M |
| Financing Cash Flow | 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 | $74.54B | 10.55 | 26.14% | 1.79% | 2.37% | 13.28% | |
71 Outperform | $21.32B | 67.11 | 12.60% | ― | 29.12% | ― | |
65 Neutral | $7.20B | -404.54 | -6.05% | ― | 34.29% | 66.53% | |
64 Neutral | $10.44B | 30.39 | 6.83% | 4.37% | 0.22% | -20.40% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $50.84B | 246.12 | -1.42% | 2.79% | -8.08% | -149.99% | |
56 Neutral | $862.93M | -6.24 | -30.29% | ― | -4.67% | 14.76% |
* Technology Sector Average
AMBQ
Ambiq Micro, Inc.
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-3.46
-7.89%
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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.
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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.