Ambiq Micro launches US$85m NYSE IPO
Ambiq Micro is seeking to raise up to US$85m from its NYSE IPO launched early Monday to grow and expand its business internationally.
Bank of America and UBS are joint bookrunners in the marketing of 3.4m new shares at US$22-$25 for pricing next Tuesday, July 29, targeting a fully diluted market capitalization of US$460m at the top of that range.
The Texas-based chipmaker raised US$89.7m on a Series G private round in July last year at US$25.32 per share valuation.
At launch, Ambiq said it expects to generate a non-GAAP gross profit of US$14.6m-$15.5m on revenue of US$32.8m-$34.4m for the first six months of 2025. That compares to a US$11.5m gross profit and US$35.5m of revenue in the comparable year-ago period.
Ambiq specializes in ultra-low power chips used in consumer electronics and other devices that are located on the edge of network.
In 2024, it shipped more than 42m units, an estimated 40% of which incorporated AI algorithms.
The company historically has been reliant on China.
In the first six months of 2025, the percentage of sales to customers in China dropped to 8%-9.5%, from 45.5% in 2024 and 66% in all of 2023. The IPO will help bridge operating losses of US$8.7m in the first three months of 2025, and the US$40.6m loss in all of 2024.
Ambiq expects to have US$135.8m of cash after the IPO. It is using the money to hire more salespeople and develop new products, including new version of its ultra-low power chips for data centers.