Ambiq Micro, Inc.

The grade, in three tenses

Headline 5.0 out of ten, 4 of 9 metrics filed and 5 estimated: past 4.8 out of ten, present 4.7 out of ten, future 5.6 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

• Surviving crises (past): 7.6 out of ten. No warning events in its filings since 2017. 76th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Track record (past): 5.1 out of ten. CrossAssetData estimate 5.1/10, confidence 20 of 100 (family median). 50th percentile among 93 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
• Shareholder treatment (past): 0.1 out of ten. CrossAssetData estimate 0.1/10, confidence 35 of 100 (one part). 1st percentile among 94 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
• Financial health (present): 3.8 out of ten. ROE -22%: lost 22¢ per shareholder dollar. Leverage 12%: owes 12¢ per asset dollar. 38th percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Industry position (present): 2.8 out of ten. bottom 28% of 97 in its family; net margin -50.3%. 28th percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Leadership (present): 9.4 out of ten. CrossAssetData estimate 9.4/10, confidence 35 of 100 (one part). 94th percentile among 79 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
• Room to expand (future): 6.3 out of ten. top 37% of 94 in its family for room to expand. 63rd percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Growth drivers (future): 5.0 out of ten. CrossAssetData estimate 5.0/10, confidence 20 of 100 (family median). 50th percentile among 93 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
• Expectations vs reality (future): 5.2 out of ten. CrossAssetData estimate 5.2/10, confidence 20 of 100 (family median). 50th percentile among 88 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.

The filing record

Newest annual report: Form 10-K filed 2026-03-05 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-11 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-11 (on EDGAR). Newest filing: Form 4, 2026-10-06. Filings on record since 2010. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 10-K filed 2026-03-05.

The people

Fumihide Esaka has been chief executive and a director since December 2015, and chaired the board from November 2016 until July 2025. He is 62. Before Ambiq he was chief executive of Transphorm Inc. from June 2013 to November 2015, and president and chief executive of Nihon Inter Electronics Corporation from June 2010 to June 2013. The founder is still an officer: Scott Hanson, who is 42, founded the company, ran it as chief executive from January 2010 to January 2013, and has been chief technology officer since February 2013 and secretary since June 2015. He has sat on the board since January 2010. [1, 2]

Sean Chen has been president since November 2016 and is also chief operating officer. He joined as group vice president for Greater China and global operations in November 2015, held that job until October 2016, and sat on the board from November 2016 to December 2024. The proxy statement credits him with over 30 years in semiconductors, earlier at mCube, Intel, IDT and TSMC. Jeff Winzeler became chief financial officer in June 2025, coming from Kandou S.A., a semiconductor company, where he was finance chief from June 2020 to May 2025; before that he held chief financial officer and chief operating officer roles at Everspin Technologies, Avnera Corporation, Solar Power Inc. and International DisplayWorks, Inc., and senior finance posts at Intel Corporation. [3, 4]

Wen Hsieh has chaired the board since July 2025 and has been a director since November 2014. He co-founded Matter Venture Partners in January 2023 and was a general partner of Kleiner Perkins from February 2006 to January 2023, where he led its hardware practice. The newest director is Bernard B. Banks, who joined in January 2026: he runs Rice University's Doerr Institute for New Leaders, sat on the senior leadership team and faculty of Northwestern University's Kellogg School of Management from August 2016 until December 2023, and served 29 years in the United States Army, retiring as a brigadier general. Timothy Chen has been a director since November 2023, Joseph Tautges since November 2022 and Ker Zhang since January 2017. [5, 6, 7, 8, 9, 10, 11]

On the insider record this site holds, ten people file Forms 3, 4 and 5 for Ambiq, and all ten have filed within the last fifteen months; the newest of them is Michele Kim Connors, the general counsel, whose first filing came in 2026. At the end of 2025 the company had 202 employees, 200 of them full time: 140 in research and development, 41 in sales and marketing and 21 in general and administrative. The engineering team sits in Austin, Texas, where the company is based, and in California, in Shanghai and Shenzhen in Mainland China, in Taiwan and in Singapore. [12, 13, 14, 15]

How it operates

Ambiq designs systems on a chip, meaning most of a computer on one piece of silicon, built to run on very little power. Its platform is called SPOT, short for Sub-threshold Power Optimized Technology: a set of design techniques that run ordinary transistors below the voltage at which they normally switch on, which the company says cuts power use by two to five times against conventional chip designs. Two families carry it. Apollo, proven over five generations, pairs a host processor with a rich set of peripherals for AI work done in software or with vector acceleration. Atomiq, whose first product is still in development, is meant to add a full neural processing unit, a block of silicon dedicated to running AI models. The chips ship with software: the AmbiqSuite development kit, modules for graphics, Bluetooth and security, and neuralSPOT for AI. [16, 17, 18, 19, 20, 21, 22]

The chips go into things people wear and places that cannot easily be wired: smartwatches and fitness trackers, augmented and virtual reality glasses, smart rings, digital health monitors, security systems and access control, livestock tracking, crop monitoring and factory automation. Body-worn devices drive a significant portion of revenue today, and they often need weeks of battery life while running AI features. The company says its products power over 290 million devices, and that in 2025 over 80% of them ran AI algorithms. [23, 24, 25]

Ambiq sells to more than 200 end customers, mostly through third-party distributors and, to a lesser extent, through resellers and its own sales force. The money sits in very few of them. Three end customers each took a tenth or more of net sales in 2025: Customer E at about 36%, Customer F at about 29% and Customer G at about 20%. The top five took 91% of net sales and the top ten 95.6%. The largest alone was about 35.6%, against 40.9% the year before. The distributors concentrate too: Distributor B and Distributor C took about 21% and 20% of net sales. Purchase orders rather than long-term agreements carry the business, and they typically arrive 16 weeks before the delivery date, stretching to 36 weeks when supply is tight. [26, 27, 28, 29, 30, 31]

Where the goods land and where they are used are two different maps. The note in the accounts that splits net sales by country does so by the country the products were shipped to, which the filing says may be different from where the ultimate end customers sit. On that basis China took 42.3% of 2025 revenue, Taiwan 35.6%, Other Countries 12.0% and Singapore 10.1%. Counted instead by the headquarters of the ultimate end customer, the picture inverts: net sales from end customers in the United States reached 85.5% in 2025, up from 48.1%, while Mainland China fell to 8.6% from 50%. Sales staff and field application engineers sit near customers in Germany, Japan, Mainland China, Poland, Singapore, Taiwan and the United States. [32, 33, 34, 35]

Ambiq owns no factory. It is fabless, meaning it designs its chips and hires others to make them, and the filing says it depends on a single third-party supplier for wafer fabrication. That supplier is TSMC, which has made its chips since the founding, on 180-nanometer, 90-nanometer, 40-nanometer, 22-nanometer and 12-nanometer processes, all of them mature lines rather than the newest and costliest. Packaging and testing go to the ASE group, King Yuan Electronics Group and Sigurd, in Taiwan and Mainland China. Foundry agreements generally carry no volume commitment and work off purchase orders; at the end of 2025 manufacturing purchase commitments stood at 10.7 million dollars. [36, 37, 38, 39]

The specifics

SPOT is the whole argument. Running transistors below and near the threshold voltage, at 0.4, 0.5 or 0.6 volts instead of the standard 0.8 or 0.9, costs significantly more to design, the filing says, but it lets Ambiq build on cheap mature processes rather than the advanced ones other chipmakers use to chase lower power. The company protects the method as patents and trade secrets: as of January 14, 2026 it owned 57 issued United States patents, 11 issued foreign patents, 13 pending United States applications and six pending foreign applications, and the issued American patents expire from 2033 through 2042. It licenses some technology from others as well, usually non-exclusively, and says no single third-party licence is significant to the business. [40, 41, 42, 43]

The filing names its rivals without hedging: large microcontroller vendors including Infineon, Microchip, NXP, Silicon Laboratories, STMicroelectronics and Texas Instruments; the connectivity chip makers Nordic Semiconductor, Renesas and Synaptics; and Qualcomm, which it says it sometimes competes with and sometimes works alongside on the same design. It argues it holds its own because SPOT makes its parts far less power hungry than the alternatives, and because standard CMOS manufacturing lets it supply quickly enough for customers to hit their own launch dates. Against that it states its handicaps plainly: a relatively short operating history in some of its markets, and a smaller size and customer base than many competitors. [44, 45]

Ambiq became a public company in 2025. The offering closed on July 31, 2025, with 4,600,000 shares sold including the underwriters' option in full for 600,000 more, and brought net proceeds of 102.7 million dollars after underwriting discounts and commissions of 7.7 million; the preferred stock then outstanding converted into 12,729,240 common shares. A follow-on offering of 2,679,600 shares closed on January 26, 2026 and brought net proceeds of 76.8 million dollars. The year ended with 140.3 million dollars in cash and an accumulated deficit of 356.7 million, and the company says its cash on hand and anticipated cash from operations will be sufficient to finance operations for at least the next twelve months. [46, 47, 48, 49, 50, 51]

Two other things shape the paperwork. Preparing the 2024 and 2023 accounts, the company found a material weakness in its internal control over financial reporting, in the segregation of certain accounting duties and in information technology controls; it put in a new financial system and extra layers of review, and says the weakness was fully remediated as of December 31, 2025. And the rules keep moving: the filing notes that the United States Department of Commerce keeps tightening export controls and adding firms to the Entity List, which would force Ambiq to obtain licences before selling to a listed customer or buying from a listed supplier, while Colorado's Artificial Intelligence Act takes effect on June 30, 2026 and the European Union's AI Act carries fines of up to the greater of 35 million euros or 7% of worldwide annual turnover. [52, 53, 54, 55, 56]

What drives growth, line by line

Net sales fell 4.7% in 2025, to 72.5 million dollars from 76.1 million, and the filing presents the fall as a swap rather than a slump. Sales to end customers outside Mainland China rose to 66.3 million dollars from 38.1 million, while sales to end customers inside Mainland China dropped to 6.2 million from 38.0 million; the company attributes both moves to a strategic prioritization of sales to higher margin opportunities. Gross profit rose 32.1% to 32.1 million dollars, and gross margin widened to 44.3% from 31.9%. [57, 58, 59, 60]

China. The largest line, at 30.7 million dollars, 42.3% of revenue, down 44.0% from 54.7 million the year before. Because the country split is drawn by where the goods were shipped, this line follows distribution into Mainland China rather than demand there. The filing describes a deliberate decision to diversify away from low margin Mainland China customers and toward markets and customers where energy efficiency and edge AI performance are the differentiators; on the end customer count, Mainland China went to 9% of net sales from 50%. [32, 33, 61]

Taiwan. 25.8 million dollars, 35.6% of revenue, up 42.0% from 18.2 million. Taiwan is where much of the contract packaging and testing is done and where sales staff and field application engineers sit, so on a shipped-to basis this line rose as the business moved out of Mainland China. [32, 38, 35]

Other Countries. The fastest growing line: 8.7 million dollars, 12.0% of revenue, up 176.6% from 3.1 million. The filing's own table calls it Rest of the World and footnotes it as the countries individually under a tenth of sales. Counted by the headquarters of the ultimate end customer, net sales from the United States reached 85.5% of the total in 2025, up from 48.1%. [32, 62, 34]

Singapore. 7.3 million dollars, 10.1% of revenue, a line the shipped-to table carries with no figure at all against it for the year before. Sales staff and engineers were already there, and in January 2026 the company was due to start a three-year lease on Singapore office space with minimum payments of about 2.2 million Singapore dollars. [32, 62, 35, 15, 63]

What comes next, in the company's own words: it expects to spend more on research and development, on Apollo6, on Atomiq and on further variants within the existing Apollo families, to push deeper into medical and healthcare, the industrial edge and smart homes and buildings, and to move into automotive and data center computing. It also plans to turn SPOT into an intellectual property and chip development platform that other companies can license, including for building next generation AI data center chips. [64, 65]

What the desk infers (inferred, not filed)

• The country split Ambiq reports is a map of its distribution channel, not of its customers: most of what ships into China, Taiwan and Singapore is bound for brands headquartered in the United States. Because: The table that splits net sales by country is drawn on the country the products were shipped to, which the filing says may be different from where the ultimate end customers sit. [33] On that shipped-to basis the record carries China at 42.3% of revenue, Taiwan at 35.6% and Singapore at 10.1%. [32] Counted by the headquarters of the ultimate end customer, net sales from the United States reached 85.5% in 2025 while Mainland China fell to 8.6%. [34] More than 200 end customers are served mostly through third-party distributors, and two of those distributors took about 21% and 20% of net sales. [26, 28] Confidence 85 of 100. Wrong if: A filing showing end customers headquartered in China, Taiwan or Singapore accounting for most of net sales, or one that drops the warning that the shipped-to country differs from where the end customers sit.
• The largest end customer, at about 35.6% of net sales, is most likely a maker of body-worn consumer devices rather than an industrial, medical or automotive buyer. Because: The filing says body-worn AI devices drive a significant portion of revenue today. [24] The markets it lists open with smartwatches and fitness trackers, augmented and virtual reality glasses and smart rings, before the industrial and farming uses. [23] One end customer accounted for about 35.6% of net sales in 2025 and 40.9% in 2024. [30] End customers headquartered in the United States accounted for 85.5% of net sales in 2025. [34] The products power over 290 million devices, a volume that fits consumer hardware rather than industrial equipment. [25] Confidence 62 of 100. Wrong if: A filing, or a disclosure by the customer itself, naming Ambiq's largest end customer as an industrial, medical, automotive or data center buyer.
• Ambiq's cost advantage rests on one foundry keeping older production lines open, so TSMC is a single point of failure that no second source presently covers. Because: The filing says the company depends on a single third-party supplier for the fabrication of semiconductor wafers. [36] That supplier is TSMC, which has made the chips since the founding, on 180-nanometer, 90-nanometer, 40-nanometer, 22-nanometer and 12-nanometer processes. [37] SPOT is what lets the products be manufactured at much more cost-effective process technology nodes instead of the expensive advanced ones. [41] Qualifying new contract manufacturers, and specifically semiconductor foundries, is described as time consuming and liable to bring unforeseen manufacturing and operations problems. [66] Confidence 72 of 100. Wrong if: A filing naming a second foundry fabricating Ambiq's wafers in volume, or one moving its main products to a leading edge process node.

Sources

1. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Fumihide Esaka, age 62, has served as our Chief Executive Officer and as a member of our Board of Directors since December 2015 and served as Chairman of our Board of Directors from November 2016 to July 2025. Prior to joining Ambiq, Mr. Esaka served as chief executive officer of Transphorm Inc., a global semiconductor development company, from June 2013 to November 2015 and president and chief executive officer of Nihon Inter Electronics Corporation from June 2010 to June 2013.”
2. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Scott Hanson, Ph.D., age 42, founded Ambiq and has served as our Chief Technology Officer since February 2013 and our Secretary since June 2015. Previously, Dr. Hanson served as our Chief Executive Officer from January 2010 to January 2013. Dr. Hanson has served on our Board of Directors since January 2010.”
3. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Sean Chen has served as our President since November 2016 and is currently also serving as our Chief Operating Officer. Previously, Mr. Chen served as our Group V.P., Greater China and Global Operations from November 2015 to October 2016, and as a member of our Board of Directors from November 2016 to December 2024. Mr. Chen has over 30 years of semiconductor experience and has previously served as Vice President of Marketing and Business Development at mCube, a semiconductor company, and held several management positions at various startups and at Nagevtech, Intel, IDT, and TSMC.”
4. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Jeff Winzeler has served as our Chief Financial Officer since June 2025. Prior to joining Ambiq, Mr. Winzeler served as the Chief Financial Officer of Kandou S.A., a semiconductor company, from June 2020 to May 2025. Mr. Winzeler has also held Chief Financial Officer and Chief Operating Officer roles at several technology firms, including Everspin Technologies, Avnera Corporation, Solar Power Inc., and International DisplayWorks, Inc. Earlier in his career, Mr. Winzeler held several senior finance positions at Intel Corporation.”
5. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Wen Hsieh, Ph.D., age 53, has been a member of our Board of Directors since November 2014 and has served as the Chairman of our Board of Directors since July 2025. Dr. Hsieh co-founded Matter Venture Partners (“MVP”) in January 2023.”
6. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Prior to MVP, Dr. Hsieh was a General Partner of Kleiner Perkins from February 2006 to January 2023, where he led the HardTech practice.”
7. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Bernard B. Banks, Ph.D., age 62, has been a member of our Board of Directors since January 2026. Dr. Banks has served on the board of directors of Customers Bancorp, Inc., since January 2022 (NYSE: CUBI). Dr. Banks is the Director of Rice University’s Doerr Institute for New Leaders where he oversees leader development initiatives for all Rice University students.”
8. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Prior to joining the Doerr Institute in January 2024, he served on the senior leadership team and faculty at Northwestern University’s Kellogg School of Management from August 2016 until December 2023. A former career military officer who led organizations ranging in size from 10 to over 3000 people, Dr. Banks served on active duty in the United States Army for 29 years and retired with the rank of Brigadier General.”
9. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Timothy Chen, age 52, has been a member of our Board of Directors since November 2023. Mr. Chen is a founding partner of ACHI and KQ Capital, and has served as the CEO of an international division of VIA Technologies, Inc., an integrated circuit manufacturer, since September 2015.”
10. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Joseph Tautges, age 50, has been a member of our Board of Directors since November 2022.”
11. Ambiq Micro, Inc., Form DEF 14A filed 2026-04-22: “Ker Zhang, Ph.D., age 63, has been a member of our Board of Directors since January 2017.”
12. The record on this page: the officers and directors who file Forms 3, 4 and 5 (the SEC's insider data sets)
13. The record on this page: the filing record (the EDGAR submissions feed)
14. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “As of December 31, 2025, we had 202 employees, of which 200 were full-time employees. Our employees include 140 employees in research and development, 41 in sales and marketing and 21 in general and administrative.”
15. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We have assembled our engineering team in the United States (primarily at our headquarters in Austin, Texas, and our California location), Mainland China (Shanghai and Shenzhen), Taiwan, and Singapore.”
16. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Our proprietary Sub-threshold Power Optimized Technology (SPOT®) platform is designed to fundamentally and cost-effectively reduce power consumption of battery- and wireline-powered devices alike. Depending on the application, devices incorporating SPOT demonstrate a two to five times reduction in power consumption compared to conventional integrated circuit designs.”
17. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “consists of a set of chip design techniques that allow standard transistors to operate in an ultra-low power mode called “sub-threshold” and “near-threshold”. When combined with other low-power chip architecture techniques, SPOT enables our SoCs to deliver two to five times lower power consumption than leading alternative solutions.”
18. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Apollo: The Apollo family of products pair rich peripheral sets with host processors capable of software-based AI computations (e.g., Apollo3 and Apollo4 families) or vector-accelerated AI computations (e.g., Apollo3 and Apollo5 families).”
19. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Our design IP has been proven over five generations of the Apollo family of products.”
20. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Atomiq: The first Atomiq family product is currently in development. This novel product targets AI applications requiring demanding edge AI compute requirements and is thus expected to provide the highest performance and lowest power ever delivered by our products. Atomiq is expected to feature a full neural processing unit (NPU) for high-performance AI acceleration along with new memory innovations”
21. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “General enablement firmware: Our AmbiqSuite Software Development Kit (SDK) provides firmware and drivers required to operate our SoCs efficiently.”
22. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “These modules include graphiqSPOT for graphics and display management, blueSPOT for Bluetooth communications, secureSPOT for managing security, and more.”
23. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Our ultra-low power SoCs serve a wide range of markets requiring on-device and real-time AI, including smartwatches and fitness trackers, augmented and virtual reality (AR/VR) glasses, smart rings, digital health monitors, security systems and access control, livestock tracking, crop monitoring, and factory automation.”
24. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Body-worn AI devices drive a significant portion of our revenue today and often require weeks of battery life while running advanced AI-driven features.”
25. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Our products power over 290 million devices today. In 2025, we estimate that over 80% of our products ran AI algorithms.”
26. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “During each of the years ended December 31, 2025 and 2024, we sold our products to more than 200 end customers via third-party distributors and, to a lesser extent, through resellers and direct sales.”
27. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We had three major end customers accounting for 10% or more of our net sales during 2025, and three such customers in 2024.”
28. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “For the year ended December 31, 2025, Distributor B and Distributor C accounted for approximately 21% and 20% of our net sales, respectively.”
29. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “For the years ended December 31, 2025 and 2024, our top five end customers accounted for 91% and 92% of our net sales, respectively, based on the sell-through information provided to us by our distributors. For 2025, net sales from Customer E, Customer F and Customer G comprised approximately 36%, 29% and 20% of our net sales, respectively.”
30. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “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. Two other single end customers directly or indirectly accounted for more than 10% of our net sales in the year ended December 31, 2025. In addition, our top ten end customers accounted for approximately 95.6% and 96.7% of our total net sales for the years ended December 31, 2025 and 2024 respectively.”
31. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We typically receive purchase orders 16 weeks ahead of the end customer’s desired delivery date; however, this can extend up to 36 weeks, particularly in times of global supply constraints.”
32. The record on this page: revenue by line and by geography, as tagged in the annual report (the SEC's financial statement data sets)
33. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “The following is a summary of net sales for the years ended December 31, 2025 and 2024, based on the country to which the Company's products were shipped, which may be different from the geographic locations of the ultimate end customers (in thousands)”
34. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “While we have reduced our net sales from end customers located in Mainland China from 50% for the year ended December 31, 2024 to 8.6% for the year ended December 31, 2025 (while increasing our net sales from end customers in the United States to 85.5% for the year ended December 31, 2025 from 48.1% for the year ended December 31, 2024)”
35. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Our direct sales force and field applications engineers are located near our existing OEM and ODM end customers in Germany, Japan, Mainland China, Poland, Singapore, Taiwan, and the United States.”
36. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We are a fabless company, meaning that we do not own a semiconductor foundry, and we rely on a single third-party supplier for the fabrication of semiconductor wafers and on a limited number of suppliers of other materials”
37. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Since our founding, we have partnered with a leading semiconductor foundry, Taiwan Semiconductor Manufacturing Company Limited (TSMC), for our SoC products in 180-nanometer, 90-nanometer, 40-nanometer, 22-nanometer, and 12-nanometer process nodes.”
38. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Upon the completion of processing at the foundry, we use third-party contractors for packaging and testing, including the ASE group, King Yuan Electronics Group (KYEC) and Sigurd in Taiwan and Mainland China.”
39. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “The Company relies on a third-party foundry and contract manufacturer for the manufacturing of its products. Generally, its foundry agreements do not have volume purchase commitments and primarily provide for purchase commitments based on purchase orders. Purchase orders are placed in advance with consideration of estimates of future demand. These purchase orders can be canceled and rescheduled upon agreement of the Company and the contract manufacturer. As of December 31, 2025, the Company had total manufacturing purchase commitments of $10.7 million.”
40. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “For example, development of our solutions using sub-threshold and near-threshold designs at 0.4 volts, 0.5 volts, or 0.6 volts costs significantly more than development at the standard 0.8 volts or 0.9 volts.”
41. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “With our SPOT platform, we are able to manufacture our products at much more cost-effective process technology nodes.”
42. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “As of January 14, 2026, we owned 57 issued U.S. patents, 11 issued foreign patents, 13 pending U.S. patent applications and six pending foreign patent applications. The issued patents in the United States generally expire beginning in 2033 through 2042.”
43. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “In addition to our own intellectual property, we also use third-party licenses for certain technologies embedded in our solutions. These are typically granted to us in non-exclusive contracts provided under royalty-accruing or paid-up licenses. While we do not believe our business is dependent to any significant degree on any individual third-party license, we expect to continue to use and may license additional third-party technology for our solutions.”
44. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Today, we generally compete with large MCU vendors, such as Infineon, Microchip, NXP, Silicon Laboratories, STMicroelectronics, Texas Instruments, and others. In addition, we also compete with connectivity players such as Nordic Semiconductor, Renesas and Synaptics. In addition, we sometimes compete (and other times work alongside certain designs) with connected processor platform players such as Qualcomm.”
45. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We believe that we are competitive with respect to these factors, particularly because our SPOT platform is designed to enable our products to have significantly lower power consumption than alternative products, allowing for greater adoption of AI at the edge. Our products are manufactured in standard CMOS, which generally allows us to supply them relatively rapidly so that end customers can meet their product introduction schedules. However, the disadvantages we face include our relatively short operating history in certain of our markets and our smaller size and customer base relative to many of our competitors.”
46. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “On July 31, 2025, we completed an IPO, in which we issued and sold 4,600,000 shares of common stock, inclusive of the exercise in full of the underwriters' option to purchase 600,000 additional shares. We received net proceeds of $102.7 million after deducting underwriting discounts and commissions of $7.7 million, but before offering expenses. In connection with the IPO, all shares of redeemable convertible preferred stock then outstanding automatically converted into an aggregate of 12,729,240 shares of common stock.”
47. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “On January 26, 2026, we completed a follow-on offering of 2,679,600 shares of common stock, at a public offering price of $31.00 per share, of which 2,636,651 shares were issued and sold by the Company and 42,949 shares offered by certain selling stockholders.”
48. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “In January 2026, we completed a follow-on offering, which results in net proceeds to us of $76.8 million after deducting underwriting discounts and commissions, but before offering expenses of $1.5 million.”
49. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “As of December 31, 2025, we had $140.3 million in cash and cash equivalents.”
50. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “For the twelve months ended December 31, 2025 and 2024, we generated net sales of $72.5 million and $76.1 million, respectively, and a net loss of $36.5 million and $39.7 million, respectively. As of December 31, 2025, we had accumulated deficit of $356.7 million.”
51. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We believe that our cash on hand and anticipated cash from operations will be sufficient to finance our operations for at least the next twelve months from the date of this Annual Report on Form 10-K.”
52. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “In connection with the preparation of our consolidated financial statements for December 31, 2024 and 2023, we determined that a material weakness existed within the internal controls over financial reporting. The material weakness identified relate to controls to address segregation of certain accounting duties and information technology controls.”
53. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “To remediate the material weakness, we implemented a new financial system and enhanced control procedures to mitigate segregation of duties. We have also implemented additional review controls and processes that require additional levels of review by those charged with financial governance of our company. This material weakness was fully remediated as of December 31, 2025, however, we cannot assure you that we have identified all material weaknesses.”
54. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “For example, the U.S. Department of Commerce continues to tighten export controls and add firms to the Entity List. These export restrictions, which would require that we obtain licenses from the U.S. Department of Commerce to allow us to export our solutions to such listed firms, could limit or prevent us from doing business with certain potential customers or potential suppliers.”
55. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “For example, Colorado recently passed the Colorado Artificial Intelligence Act, which is set to go into effect on June 30, 2026, and which regulates the development, deployment, and use of AI systems”
56. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “The EU AI Act included requirements around transparency, conformity assessments and monitoring, risk assessments, human oversight, security, accuracy, general purpose AI, and foundation models, and provides for fines of up to the greater of €35 million or 7% of worldwide annual turnover for violations.”
57. The record on this page: the filed annual figures (EDGAR's company facts)
58. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Net sales decreased $3.6 million or 4.7% in 2025 from $76.1 million in 2024. Sales to our end customers outside of Mainland China for 2025 and 2024 were $66.3 million and $38.1 million respectively. Sales to our end customers in Mainland China for 2025 and 2024 were $6.2 million and $38.0 million, respectively.”
59. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “These increases in sales outside of Mainland China and the decreases in sales for Mainland China were due to our strategic prioritization of sales to higher margin opportunities.”
60. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Gross profit increased $7.8 million, or 32.1%, to $32.1 million in 2025 from $24.3 million in 2024, representing an overall gross margin increase of 1,240 basis points, to 44.3% in 2025 from 31.9% in 2024”
61. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Sales to end customers in Mainland China accounted for 9% and 50% of our net sales in the years ended December 31, 2025 and 2024, as we made a deliberate decision to diversify away from low margin, Mainland China customers to prioritize high-value markets and customers where energy efficiency and edge AI performance serve as key differentiators.”
62. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “China 30,664 54,728 Taiwan 25,835 18,190 Singapore 7,306 — Rest of the World* 8,709 3,149 Total $ 72,514 $ 76,067 *Other countries individually less than 10%”
63. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “As of December 31, 2025, the Company entered into a noncancelable lease agreement for office space in Singapore that had not yet commenced. The lease is expected to commence on or about January 15, 2026 and has an initial noncancelable term of three years. Total minimum lease payments under the agreement are approximately SGD 2.2 million over the lease term.”
64. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We expect to increase our research and development expenditures as compared to prior periods as part of our strategy to focus on the development of new solutions, such as Apollo6, Atomiq, SoCs variants within existing Apollo families, as well as further penetration of existing markets, such as medical/healthcare, industrial edge and smart homes and buildings, and expansion into new markets such as automotive and data center and computing.”
65. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “We plan to develop SPOT into an IP and chip development platform that makes it easier for other companies to license or partner with us to incorporate SPOT into their own low-power chip designs, such as building next-generation AI data center chips.”
66. Ambiq Micro, Inc., Form 10-K filed 2026-03-05: “Qualifying new contract manufacturers, and specifically semiconductor foundries, is time consuming and might result in unforeseen manufacturing and operations problems.”

Where the revenue comes from

By geography: China 42%, Taiwan 36%, Other Countries 12%, Singapore 10%. As tagged in its annual report (Form 10-K, filed 2026-03-05).

Who runs it

Esaka, Fumihide (Chief Executive Officer); Chen, Sean Chihhsiang (President and COO); Winzeler, Jeffrey G (Chief Financial Officer); Hanson, Scott Mclean (Chief Technology Officer); Connors, Michele Kim (General Counsel); Zhang, Ker (director); Banks, Bernard Bennett (director); Chen, Timothy (director); Hsieh, Wen Hsuan (director); Tautges, Joseph A (director). 10 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-06.

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