Ambiq Micro, Inc.

Good morning and welcome to the MBIC micro fourth quarter and full year 2025 earnings conference call. As a reminder, this conference call is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, simply press star one again. I would now like to turn the call over to Ms. Charlene Wan, MBICS Vice President of Corporate Marketing and Investor Relations. Charlene, please go ahead.

On today's call, MBICS CEO Humihide Izaka will provide an overview of the company's performance and strategy. CFO Jeffrey Winsler will then discuss the quarter's financial results and 2026 outlook. Following their remarks, Scott Hansen, MBICS founder and CTO, and Aaron Grashian, EVP of Global Sales and Marketing, will join Humi and Jeff for Q&A. Our earnings release is available on the investor relations page of our website at www.envic.com. We have also posted our earnings presentation on the investor relations section of our website. Before I turn the call over to Humi, I'd like to remind our listeners that during the course of this conference call, management will discuss non-GAAP financial measures. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures are included in our earnings release available on the company's investor relations website. In addition, today's call will contain forward-looking statements representing management's beliefs and assumptions only as of the date made. Our most recent annual report on Form 10Q and other filings with the SEC provide more information on specific risks that may cause the actual results to differ materially from current expectations. And now, it's my pleasure to turn the call over to Ambiq's CEO, Fumi Asaka.

Good morning, everyone, and thank you for joining us. 2025 was a strong year for Ambiq, defined by disciplined execution and accelerating demand for edge AI across our end markets. Our performance reflects both share gains and market expansion as we enable AI on more devices across more markets and in a growing number of use cases. We are entering 2026 with strong momentum. Based on current demand indicators, we expect outsized top-line growth. We remain confident in our long-term opportunity as we partner with customers to advance their edge AI roadmaps and deliver sustained growth. Starting with 4Q performance, we delivered our highest net sales quarter of 2025, exceeding guidance. End-user demand outpaced our customers' expectations, resulting in incremental expedited orders late in the quarter. Three key factors behind the net sales increase from 3Q were, first, strong end demand for our customers' products. Second, broader adoption of AMBIC solutions within customer portfolios. And third, customers upgrading to Apollo 5 for more advanced Edge AI functionalities. Turning to the full year, 2025 was a milestone year for Ambiq. Edge AI adoption was a career growth driver, and we estimate that more than 80% of the units we shipped were running AI algorithms. Net sales and non-GAAP growth profit increased in every quarter of the year, and we delivered our highest-ever growth profit for the year. We expanded our customer base across multiple end markets, including securing a large wearable customer. At the same time, we continue to strengthen and diversify our design funnel particularly in medical, industrial, and smart home and building market. As these programs move into production over the next 18 to 24 months, we expect incremental growth and revenue diversification. We also expanded our product portfolio to support more advanced-edge AI applications, launching Apollo 510 Lite, Apollo 510B, and Apollo 330. On the software side, we introduced the Helia AOT and Helia RT AI runtime powered by our new Helia core AI kernel library. Finally, we completed a successful IPO demonstrating strong investor demand and confidence in our strategy, and long-term opportunity. Our 2025 performance highlights the strengths of our spot platform in delivering ultra-low power solutions and enabling Edge AI across an increasingly diverse set of applications and end markets. Based on our customer conversations, we see several trends accelerating Edge AI adoption in 2026. with Spot enabling powerful new AI capabilities across an expanding range of industries. We expect to further grow market share while broadening the overall opportunity. First, customers are adding more soft-skated edge AI capabilities into their devices to differentiate their products and drive demand. Second, wearables are evolving into true personal health platforms requiring more advanced on-device intelligence and ultra-low power performance. This includes real-time health insights across multiple wellness indicators. Third, wearables are expanding into new high-value form factors such as rings and eyewear. This broadens addressable market and increasing demand for low-power, high-performance edge AI solutions. Looking ahead to 2026, we expect customers to launch new models with more advanced features across diverse form factors, including rings, displayless bands, and watches. We also expect a new scaled global customer to enter into mass production this year. Product launched in late 2025 are continuing to ramp in volume. At the same time, we anticipate ongoing migration to Apollo 5 as customers look for greater performance and AI capability. As a result, we expect 2026 to be a year of strong growth for Ambek. While we are making impressive progress, we remain early in a large and expanding edge AI opportunity. To capture this opportunity, we're taking focused action to accelerate growth over the coming years. First, We're leveraging our existing Apollo family and derivatives to expand aggressively into high value markets. And second, we are developing new products that enables more advanced edge AI capabilities and expand our reach. We're making solid progress on both fronts. Starting with market expansion. Edge AI is becoming more capable and complex across medical devices, smart homes, and industrial markets. In healthcare, customers are building smarter cardiac monitors, senior care devices, and hearing aids, all with enhanced AI capabilities. In industrial markets, AI-powered sensors are enabling predictive maintenance and asset monitoring, which helps reduce downtime and improve operational efficiency. In smart building, HAI helps manage lighting, HVAC, security, and occupancy data to optimize energy use in real time. While these markets are growing, design cycles remain longer, particularly in regulated and industrial environments. We are encouraged by our early traction and believe we are well positioned to expand our footprint as HAI adoption scales across broad range of end markets. Our integrated hardware and software platform is purpose-built for these transitions by combining AI-enabled processing, connectivity, and edge intelligence in a single ultra-low power architecture optimized for power-constrained devices. Our recent partnership, RONS, highlights this progress. Through the Navasir brand, RONS is leading provider of intelligent equipment operation and maintenance solutions. By leveraging spot hardware and software, RONS will deploy large scale always on battery powered sensors. We expect this and similar engagement to increase diversity of our design funnel and unlock new and durable long-term growth in the industrial edge. This is just one example of how Spot is powering AI adoption across diverse end markets. And we are building on this strong foundation with the ongoing expansion of our Helia AI software ecosystem. Helia will support more AI kernels with performance improving over time. Paired with our AI development kits, Helia will help customers build ultra-efficient AI models for health analysis, speech interfaces, machine health monitoring, and more. Turning to our product roadmap. This morning, we announced new technical details for Atomic. It's the first spot family built on a FinFET process with TSMC, enabling operation down to 300 millivolts, the lowest voltage in our company's history. This breakthrough pushes boundary of ultra-low power while enabling significantly more sophisticated AI capabilities. This combination is essential for next generation of battery powered edge AI devices. Atomic is purpose-built for AI workloads that benefits from parallel processing rather than row clock speed. With its integrated NPU, GPU, and embedded memory, we believe it will power a new class of intelligent devices, including advanced wearables, air glasses, and smart cameras. At the same time, we see significant opportunity to extend our reach into new markets with Apollo derivatives that support smaller form factors and core edge AI capabilities. Reflecting stronger customer demand We are accelerating development of both Atomic and Apollo product families. Instead of a three-year step-by-step plan, we now plan to start development of Apollo 340 and Atomic 120 this year, along with ongoing work on Atomic 110. Apollo 340 is designed as a highly scalable platform to expand into new high opportunity segments. It combines Ambix energy efficiency with attractive price point, compact form factor, and comprehensive developer support and reference designs. This will make it well-suited for distribution channels, ecosystem partners, and reference designs, multiplying sales leverage and accelerating delivery of on-device AI to the mass market. Turning to Atomic, the first SoC designed from the ground up for advanced AI. Atomic 110 will enable personal devices with smaller batteries to achieve longer battery life while supporting richer features such as natural language voice interfaces and on-demand health analysis, unlocking a new possibility for personal life logging devices. In industrial markets, Atomic will support more complex AI models for local, cost-effective, predictive maintenance. In medical applications, it will enable more real-time, always-on, private metrics in smaller form factors. Atomic 120 will introduce capabilities tailored for smart cameras and next-generation smart eyewear, which is one of the fastest growing categories in wearables. In summary, 2025 was a year of strong performance and focused execution for Ambek. We believe we are well positioned for significant top-line growth in 2026, supported by solid customer demand and accelerated product momentum. At the same time, we are intentionally increasing investment across R&D, software, and go-to-market initiative to capture even larger share of the expanding edge AI opportunity. Our ultra-low-power SPOT platform combined with strategic action we're taking are laying the foundation for sustained long-term growth. With that, I will turn the call over to Jeff to review the financials.