Investment Thesis
Ambiq Micro is a cash-burning semiconductor company with deteriorating operational performance, negative free cash flow of -$19.7M, and operating losses of -$39.5M despite maintaining decent gross margins of 44.3%. While the company has substantial cash reserves ($140.3M) and minimal debt, the persistent losses, declining revenue (-4.7% YoY), and negative operating cash flow indicate fundamental business challenges that outweigh the strong balance sheet.
AMBQ Strengths
- Substantial cash reserves of $140.3M providing runway for turnaround
- Strong gross margin of 44.3% indicating product-market viability
- Minimal debt with zero long-term debt and debt/equity ratio of 0.00x
AMBQ Risks
- Negative operating cash flow of -$19.7M indicating cash burn despite gross profitability
- Operating losses of -$39.5M with net margin of -50.3% showing inability to scale efficiently
- Declining revenue trend of -4.7% YoY suggesting market headwinds or competitive pressures
- Negative ROE of -22.4% and ROA of -19.7% destroying shareholder value
Key Metrics to Watch
- Quarterly revenue trajectory and market share trends
- Operating margin improvement and path to profitability
- Cash burn rate and projected runway given current operating cash flow
- Gross margin sustainability and product mix evolution
- Operating expense rationalization efforts
AMBQ Financial Metrics
AMBQ Profitability Ratios
AMBQ Balance Sheet & Liquidity
AMBQ 5-Year Financial Trend
5-Year Trend Summary: Ambiq Micro, Inc.'s revenue has remained relatively flat over the 5-year period, with a 0% decline. The most recent EPS of $-113.50 indicates the company is currently unprofitable.
AMBQ Growth Metrics (YoY)
AMBQ Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $18.2M | -$9.0M | $-0.72 |
| Q2 2025 | $17.9M | -$8.5M | $-18.89 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
AMBQ Capital Allocation
AMBQ SEC Filings
Access official SEC EDGAR filings for Ambiq Micro, Inc. (CIK: 0001500412)