Amprius Technologies Stock Earnings Reports

Amprius reported a strong Q1 2026 with revenue of $28.5M (up 153% YoY, +13% sequential), driven by adoption of its second-generation SiCore silicon-anode cells across UAS (drones), light electric vehicles (LEVs), and growing traction in the U.S. defense market. Management raised 2026 revenue guidance to at least $130M (previously $125M) and reiterated adjusted EBITDA guidance of at least $4M and a net loss no worse than $8M. Key commercial highlights include $21M multi‑quarter LEV order from a leading Chinese customer, expanded DIU (Defense Innovation Unit) contract now totaling $18.1M to develop standardized pouch and cylindrical NDAA‑compliant cells, and three long‑standing customers receiving large defense awards that increase visibility into future battery demand. Q1 gross margin was 20% (22% ex‑one month Colorado carry), with management attributing the sequential margin step‑back to remaining SiMaxx overhead and one month of Colorado costs; they expect margins to improve later in the year toward the 25% target as mix, logistics, and additional CM capacity normalize. Cash totaled $62.4M at quarter end (down from $90.5M), reflecting higher receivables, a $20M settlement of the Colorado lease obligation (which reduced liabilities by $29.8M), and DIU‑funded CapEx. Manufacturing buildout progress includes technical validation with Nanotech (U.S. 21700 cylindrical cell) and multiple contract manufacturers in Korea; management expects more U.S./allied manufacturing partners to be announced when ready. The company also announced an agreement to exchange ~7.1M public warrants into common shares to reduce future dilution (management estimates >$70M of avoided dilution), simplify the capital structure and potentially relieve related short interest. Overall, Amprius is emphasizing commercialization, standardization for defense procurement, expansion of pack partner distribution, and continued investment in sales/GT M to capture accelerating demand across high energy density markets (UAS, satellites/space, LEV, robotics, eVTOL).