Ambiq Micro, Inc. Earnings Per Share Disclosure
3. Net Loss Per Share
The table below sets forth the computation of basic and diluted loss per share for the periods presented (in thousands, except share and per share amounts):
|
|
Years Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Numerator: |
|
|
|
|
|
|
||
Net loss |
|
$ |
(36,461 |
) |
|
$ |
(39,661 |
) |
Deemed dividends |
|
|
— |
|
|
|
(2,724 |
) |
Net loss attributable to common stockholder |
|
$ |
(36,461 |
) |
|
$ |
(42,385 |
) |
Denominator: |
|
|
|
|
|
|
||
Weighted average shares outstanding |
|
|
7,977,360 |
|
|
|
373,446 |
|
Effect of dilutive shares |
|
|
— |
|
|
|
— |
|
Basic and diluted loss per share |
|
$ |
(4.57 |
) |
|
$ |
(113.50 |
) |
Since the Company incurred a net loss for the years ended December 31, 2025 and 2024, the diluted net loss per share calculation excludes potentially dilutive securities. The following table summarizes the number of shares of common stock issuable under various securities that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:
|
|
Years Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Redeemable convertible preferred stock |
|
|
— |
|
|
|
12,729,349 |
|
Common warrants |
|
|
244,425 |
|
|
|
672,632 |
|
Preferred warrants |
|
|
— |
|
|
|
10,377 |
|
Restricted stock units |
|
|
1,497,340 |
|
|
|
113,819 |
|
Stock options and employee stock purchase plan |
|
|
4,322,986 |
|
|
|
2,228,838 |
|
Total shares |
|
|
6,064,751 |
|
|
|
15,755,015 |
|
The Company did not record deemed dividends for the year ended December 31, 2025. The Company recorded deemed dividends of $2.7 million for the year ended December 31, 2024 as a result of a down round feature in the Company’s Series E, F, and F-1 preferred stock triggered during the issuance by the Company of Series G preferred stock (see Note 11-Warrants, Redeemable Convertible Preferred Stock and Stockholders’ Equity).
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.