Amprius Technologies Stock Earnings Reports

Amprius reported a strong Q1 2026 with revenue of $28.5M (up 153% YoY, +13% sequential), driven by growing adoption of its second-generation SiCore silicon-anode cells across defense UAS, international customers, and a new light electric vehicle (2/3-wheeler) multi-quarter $21M order in China. Management raised 2026 revenue guidance to at least $130M (up $5M) and reiterated expectations for adjusted EBITDA of at least $4M and a net loss no greater than $8M. Gross margin in Q1 was 20% (about 22% ex the one-month Colorado cost carryover); management expects to reach ~25% full-year gross margin as mix and logistics improve and additional manufacturing capacity in Korea and the U.S. comes online. Cash was $62.4M at quarter end (down from $90.5M) after $37.3M in uses, including $20M to settle the Colorado lease obligation (avoiding a much larger liability) and higher accounts receivable tied to revenue growth. The Defense Innovation Unit (DIU) contract was expanded to $18.1M to fund development and standardization of pouch and cylindrical cells for NDAA-compliant supply, supporting U.S.-based production plans (including progress with Nanotech for 21700 cylindrical cells). Management is actively optimizing the capital structure: an announced agreement to exchange ~$7.1M of public warrants for common shares is expected to materially reduce potential dilution (management cites roughly $70M of dilution avoided). Key risks remain execution on manufacturing scale-up and margin recovery during the SiMaxx phaseout, but the company emphasizes growing U.S. defense demand, expanding OEM wins, progress on NDAA compliance/supply agreements, and commercialization momentum into robotics, satellites/space, EV light vehicles, and eVTOL.