Ambiq Micro, Inc.

Good morning, and welcome to AMBIC Micro First Quarter 2026 Earnings Conference Call. As a reminder, this conference call is being recorded. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 on your telephone keypad. To withdraw your question, please press star 1 again. I'd now like to turn the call over to Ms. Charlene Wang, AMBIC's Vice President of Corporate Marketing and Investor Relations. Charlene, please go ahead.

On today's call, AMBIC CEO Humi Asaka will provide an overview of the company's performance and strategy. CFO Jeff Gwinsler will then discuss the quarter's financial results and second quarter outlook. Following their remarks, Scott Hansen, Ambig's 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.ambig.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 10-K 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 MBIC CEO Umi Asaka.

Good morning, everyone. And thank you for joining us. We have started in 2026 with exceptional momentum. The market for HAI is growing rapidly and is outpacing our expectations from the start of the year. Against this backdrop, Our ultra-low power spot platform is driving market expansion, gaining share, and reinforcing AMBIC as a partner of choice in a fast-growing category. We expect this momentum to continue throughout the rest of the year. At the same time, our pipeline continues to grow and diversify. and we are investing strategically to further scale the business and extend our technology advantage. Turning to the first quarter performance, net sales exceeded guidance with strong year over year and sequential growth from the fourth quarter of 2025. This performance was driven by broad-based demand for edge AI across our customer base, with more than 80% of units running AI algorithms, all the ramps for the upcoming customer product launches, and the new customer entering production. Inventory level remains lean, and we are seeing an increasing number of expedited requests. which reinforces our view that demand is healthy across our end markets. For the second quarter, we expect net sales to grow approximately 75% year over year, with momentum continuing in the second half of the year. This outlook is supported by four key factors. First, strong and growing end-user demand for edge AI solutions. Wearables continue to evolve from basic consumer products to more sophisticated health and wellness platforms. And we are seeing continued diversification across form factors, including watches, display-less bands, rings, and eyewear. Second, strong growth in Apollo 5 as our customer upgrade to enable next generation edge AI capabilities while maintaining ultra low power performance. Third, broader deployment of our solutions across customer portfolios with upcoming product launches and expansion into new form factors. And fourth, We expect a new scaled global customer to enter mass production this year. While wearables remains a key growth driver, adoption is expanding into healthcare, industrial, and smart home and buildings markets as customers deploy AI directly onto devices. Increasingly, end customers expect real-time insights and faster response time, driving the need to process more data directly at the edge. This rise of LLM-driven agents is accelerating this shift, increasing demand for contextual real-time intelligence at the edge and tighter integration between device data and the cloud. Our solutions are purpose-built to support this evolution, positioning AMBIC as a partner of choice for leading players in the edge AI ecosystem. We're building on this foundation with focused action to expand into additional high-value markets, and develop new products that will further extend our power and performance advantage. Starting with diversification, our personal device business continues to grow and diversify. We have added multiple new customers and secured new design wins across emerging form factors, including displayless bands, smart eyewear, and rings. At the same time, customers are deploying more sophisticated edge AI capabilities on our platform, including a recently secured design win with one of our largest customers for a next-generation product line expected to enter production in 2027. Beyond personal devices, our expansion into medical, industrial, and smart homes and buildings markets is gaining meaningful traction, and we expect revenue from these segments to more than double in 2026. With our broad SOC platform, we offer a scalable and diverse portfolio that supports applications from entry-level designs to more advanced, feature-rich use cases. As a result, Ambiq serves as a critical enabler of Edge AI, allowing customers to select and deploy the right solutions across a wide range of applications, including real-time health monitoring, intelligent audio, predictable maintenance, and smart sensing and automation. We're complementing this with a steady cadence of software tools that enhance edge AI capabilities with a focus on how customers capture process and derive value from a data at the edge. For example, by combining our ultra-low power hardware with our compression kit software, customers will be able to maintain multi-day battery life while storing large volumes of raw physical data and enabling real-time anomaly detection at the edge, expanding what is possible in next-generation medical devices. We are encouraged by the early traction we are seeing and believe AMBIC is well-positioned to deliver growth and diversification across customers and end market. and high value use cases. Looking ahead, we expect our expanding product roadmap to further accelerate this momentum. We continue to make progress on Apollo 340, Atomic 110, and Atomic 120, which are being developed in parallel to support strong customer demand. Atomic 110 remains on track for tape out towards the end of this year. with initial customer ramp in late 2027. For Atomic 120, we are actively engaged with several potential alpha customers and are encouraged by the strong interest we are receiving, especially in smart glasses, where customers are seeking the combination of performance and ultra-low power that Atomic is designed to deliver. Apollo 340 is also generating meaningful traction with multiple customers expressing interest driven by its compelling price to value positioning. We see 340 as an important enabler to expanding to higher volume and more diverse opportunities complementing the higher performance Atomic family and supporting our strategy to scale across a wider range of HAI applications. In closing, we have strong momentum across the business and believe we are well positioned to deliver meaningful revenue growth this year. We continue to execute our strategic priorities and strengthen our leadership in ultra-low power semiconductor solutions as we expand into new edge AI markets and advance our product roadmap. The edge AI opportunity ahead is tremendous, and we are confident in our ability to capture it to drive long-term growth and value creation. With that, I will turn it over to Jeff to cover the financials.