Solution-processable thioalkylated bithiophene derivatives with different lengths of side chains (SBT-n; n = 10, 12, 14, 16, 18) have been synthesized and characterized as p-channel organic semiconductors for thin-film transistors (TFTs). Based on a combination of the highest performing SBT derivative (SBT-14) and quinoidals (DTTRQs) as p- and n-channel materials, solution-processed small-molecular bulk heterojunction (BHJ) ambipolar thin-film transistors were fabricated, and the resulting devices showed air-stable and high ambipolar performance with well-balanced electron and hole mobilities as high as 0.70 cm2 V−1 s−1 and 0.21 cm2 V−1 s−1, respectively. Furthermore, complementary-like inverters comprising two ambipolar thin-film transistors were demonstrated, which exhibited a high voltage gain of up to 81. Our study clearly demonstrated that side chain engineering of small molecular organic semiconductors had a significant influence on the electrical performance of TFTs and BHJ transistors, as well as complementary-like inverters.