Ambiq Micro, Inc. Q2 FY2025 earnings call

• Ambiq is a pioneer in ultra-low power semiconductor solutions, enabling over 280 million devices. Their SPOT platform helps run AI at the edge with low power. - Q2 2025 revenue grew sequentially due to increased customer demand and favorable product mix. - Post-IPO, key initiatives include expanding into new markets/geographies, expanding the Apollo family and introducing the Atomic product line, and building a SPOT platform for IP licensing.

In the second quarter of 2025, Ambiq's revenue was $17.9 million, up from $15.7 million in the first quarter but down from $20.3 million in the second quarter of 2024. Non-GAAP gross profit was $7.6 million, which is 42.7% of revenue. Net loss for the second quarter was $8.5 million or $18.90 per share. Cash and cash equivalents were $47.5 million at the end of Q2 2025, and after the IPO, net proceeds were $97.2 million.

For the third quarter of 2025, Ambiq expects revenue to be in the range of $17.5 million to $18 million. Non-GAAP loss per share is expected to range between $0.35 loss per share and $0.28 loss per share on a weighted average post-IPO share count of approximately 18.2 million shares.

Statements are subject to risks and uncertainties discussed in SEC filings, which could cause actual results to differ materially from forward-looking statements. Non-GAAP financial measures have related GAAP reconciliations in press releases and Form 8-K.

Q: How does Ambiq define edge AI and what percentage of sales fit that definition?

A: Edge AI is in medical, industrial, personal devices, etc. More than half of business already uses intelligence.

Q: What use cases are asking for SPOT licensing and can you accelerate development?

A: Data centers, automotive, mobile devices. With more resources, can accelerate development.

Q: Progress on non-wearable opportunities?

A: About 17% of funnel towards medical, industrial, etc., with progress in AR glasses, worker safety monitors, etc.

Q: Order trends and lead time for Apollo processor?

A: Typically 16-week lead time, seeing healthy growth.

Q: Tariff impact and gross margin outlook?

A: Cautiously optimistic about second half, gross margin may vary by a point or two based on product mix, etc.

Q: Applications to see revenue in next 4 months?

A: AR glasses, worker safety monitors, machine health monitors.

Q: Update on Atomic development?

A: Active with early adopters, making progress since public offering.