Ambiq Micro, Inc.

Previous wording

For the three months ended June 30, 2025 and 2024 , we generated net sales of $17.9 million and $20.3 million, respectively, and a net loss of $8.5 million and $10.6 million, respectively.

Current wording

For the three months ended September 30, 2025 and 2024 , we generated net sales of $18.2 million and $20.3 million, respectively, and a net loss of $9.0 million and $9.4 million, respectively.

Previous wording

For the six months ended June 30, 2025 and 2024, we generated net sales of $33.6 million and $35.5 million, respectively, and a net loss of $16.8 million and $20.0 million, respectively. As of June 30, 2025, we had an accumulated deficit of $337.0 million.

Current wording

For the nine months ended September 30, 2025 and 2024, we generated net sales of $51.8 million and $55.7 million, respectively, and a net loss of $25.8 million and $29.5 million, respectively. As of September 30, 2025, we had an accumulated deficit of $346.0 million.

Previous wording

As we focus on creating meaningful benefits to our end customers for their edge AI capabilities, we are shifting our geographic concentration. Historically, our sales were significantly concentrated with end customers in Mainland China. Given geopolitical concerns, subsidized competitors creating a price sensitive environment in Mainland China and our desire to service new markets in medical/healthcare, industrial edge, and smart home and buildings, we continue to prioritize our management and sales efforts toward other meaningful geographies. As a result, we expect to continue to experience a substantial shift over the next year in our underlying geographical concentration. For example, in 2023, 66% of our net sales were to end customers in Mainland China, as compared to 50% in 2024. During the second quarter of 2025, 12% of our net sales were to end customers in Mainland China, as compared to 42% during the second quarter of 2024. We currently anticipate this trend will continue in 2025 and beyond. We believe this shift will result in a significant margin improvement opportunity given the benefits of other markets outside of Mainland China.

Current wording

As we focus on creating meaningful benefits to our end customers for their edge AI capabilities, we are shifting our geographic concentration. Historically, our sales were significantly concentrated with end customers in Mainland China. Given geopolitical concerns, subsidized competitors creating a price sensitive environment in Mainland China and our desire to service new markets in medical/healthcare, industrial edge, and smart home and buildings, we continue to prioritize our management and sales efforts toward other meaningful geographies. As a result, we expect to continue to experience a substantial shift over the next year in our underlying geographical concentration. For example, in 2023, 66% of our net sales were to end customers in Mainland China, as compared to 50% in 2024. During the third quarter of 2025, 7% of our net sales were to end customers in Mainland China, as compared to 50% during the third quarter of 2024. We currently anticipate this trend will continue in 2025 and beyond. We believe this shift will result in a significant margin improvement opportunity given the benefits of other markets outside of Mainland China.

Previous wording

We have demonstrated strong end customer growth with technology leaders validating our technology platform and our robust product offerings. We work with our end customers at the front end of their design cycles, helping them develop next-generation products. The collaborative nature of these relationships provides us with enhanced visibility into our end customers’ future requirements, allowing us to expand our business and increase our content in future products.

Current wording

We believe that our operating results for the foreseeable future will continue to depend to a significant extent on sales attributable to certain end customers. We expect to continue to expand customer base with new product development to reduce exposure. We have demonstrated strong end customer growth with technology leaders validating our technology platform and our robust product offerings. We work with our end customers at the front end of their design cycles, helping them develop next-generation products. The collaborative nature of these relationships provides us with enhanced visibility into our end customers’ future requirements, allowing us to expand our business and increase our content in future products.

Previous wording

Other income (expense), net reflects interest income generated from our cash on hand being invested in short-term money market account activity. Our other expenses are principally the mark-to-market valuation of our warrant liabilities and the impact of foreign exchange gains and losses on our results.

Current wording

Other income (expense), net reflects interest income generated from our cash on hand being invested in interest-bearing accounts. Our other expenses are principally the mark-to-market valuation of our warrant liabilities and the impact of foreign exchange gains and losses on our results.