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Amprius Technologies Inc (AMPX)
:AMPX
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Amprius Technologies Inc
(NYSE:AMPX)
Rating:54Neutral
Price Target:
$9.00
▲(9.76%Upside)
Positive Factors
Expansion and Strategic Partnerships
Amprius is upgrading to Outperform as its top customers will be key beneficiaries of the administration's mission to develop a domestic drone industry.
Product Performance and Demand
Amprius's SiCore product is demonstrating an industry-leading performance, with its most recent cell delivering 370 Wh/kg and capable of 10C discharge.
Revenue and Customer Base Growth
The company shipped batteries to 102 customers in the quarter, including 46 new customers, indicating a broadening customer base.
Negative Factors
Equity and Dilution Risks
The $66 million remaining at-the-money equity facility presents a substantial amount of dilution if exercised at the current valuation.
Gross Margins and Profitability
Overall gross margins are expected to be negative in 2025 because of low absorption.
Market Volatility and Investment Challenges
The low float makes it volatile and difficult for large investors to get involved meaningfully.
Amprius Technologies Inc (AMPX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$999.33M
Dividend YieldN/A
Average Volume (3M)9.19M
Price to Earnings (P/E)―
Beta (1Y)2.00
Revenue Growth209.20%
EPS Growth4.24%
CountryUS
Employees99
SectorIndustrials
Sector Strength93
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.08
Shares Outstanding120,546,074
10 Day Avg. Volume12,107,730
30 Day Avg. Volume9,192,564
Financial Highlights & Ratios
PEG Ratio-3.08
Price to Book (P/B)12.61
Price to Sales (P/S)0.00
P/FCF Ratio-23.92
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue10.38
Enterprise Value/Gross Profit-52.96
Enterprise Value/Ebitda-5.44
Forecast
1Y Price Target
$10.20Price Target Upside24.39% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
Amprius Technologies Inc Business Overview & Revenue Model
Company DescriptionAmprius Technologies Inc (AMPX) is a company specializing in the development and manufacturing of advanced lithium-ion batteries. The company operates in the energy storage sector, focusing on providing high-energy and high-power battery solutions for a variety of applications, including electric vehicles, consumer electronics, and aerospace. Amprius Technologies is known for its innovative approach to battery technology, particularly its use of silicon nanowire anodes, which significantly enhance battery performance.
How the Company Makes MoneyAmprius Technologies Inc generates revenue primarily through the sale of its advanced lithium-ion batteries. The company's key revenue streams include direct sales to manufacturers in the electric vehicle, consumer electronics, and aerospace industries, which utilize these batteries to enhance the performance and efficiency of their products. Additionally, Amprius may engage in strategic partnerships and collaborations with other technology firms and manufacturers to integrate its battery technology into new applications, further expanding its market reach and revenue potential. The company's innovative silicon nanowire anode technology gives it a competitive edge in the battery market, potentially contributing to increased demand and sales.
Amprius Technologies Inc Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 229.32%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
Amprius Technologies experienced strong revenue growth and customer acquisition, driven by significant technological advancements and international expansion. Despite these achievements, the company faced challenges with negative gross margins, a continued net loss, and halted expansion plans for the Colorado facility.Q1-2025 Updates
Positive Updates
Record Revenue Growth
Amprius Technologies generated revenue of $11.3 million in Q1, a 6% increase from Q4 of last year and up 383% from the same period last year. This strong growth was primarily driven by a greater than 600% increase in Cycle shipments.
Significant New Customer Acquisition
Amprius Technologies shipped to 102 customers in Q1, with 46 new to the platform, indicating strong market adoption and customer diversification.
Technological Advancements
Introduction of new cell chemistries, including a 370 watt-hour per kilogram high power pouch cell and a 6,300 milliamp-hour cylindrical cell. The new high energy and high power cell set a performance record with a 370 watt-hour per kilogram energy density and a 15C charge rate.
International Revenue Expansion
83% of Q1 revenue came from outside the United States, up from 65% in the prior year period, showing global expansion.
New Leadership
Tom Steading joined as President, bringing over 35 years of leadership experience in energy and manufacturing businesses.
Negative Updates
Negative Gross Margin
The gross margin was negative 21% for the quarter, indicating ongoing financial challenges despite revenue growth.
Net Loss
GAAP net loss for the first quarter was $9.4 million or negative $0.08 per share, which, although an improvement from Q4, still reflects financial challenges.
Limited Progress on Colorado Facility
No plans to move forward with the Colorado facility, as designs are complete but construction is on hold due to market dynamics and funding considerations.
Employee Reduction
The number of full-time employees decreased to 95 from 99 at the end of the fourth quarter, indicating possible operational or financial efficiency measures.
Company Guidance
During the Amprius Technologies First Quarter 2025 Earnings Call, CEO Dr. Kang Sun and CFO Sandra Wallach provided extensive guidance on the company's financial and operational performance. Amprius reported a significant revenue increase of $11.3 million, marking a 6% sequential growth and a 383% year-over-year increase, with 83% of revenue generated from international markets. The company shipped to 102 customers, 46 of which were new, and added $34.5 million in new customer purchase orders to the backlog. Despite a negative gross margin of 21%, the company ended the quarter with $48.4 million in net cash and no debt. Key performance metrics for their silicon anode batteries include energy densities of up to 450 watt-hours per kilogram and 1,150 watt-hours per liter, with fast charge capabilities and wide operating temperature ranges. Amprius is poised for continued growth with new product introductions and a focus on expanding its manufacturing capabilities globally.Amprius Technologies Inc Financial Statement Overview
Summary
Amprius Technologies Inc. shows strong revenue growth but faces significant profitability and cash flow challenges. The negative profit margins and high operational costs are concerning, although balance sheet metrics show moderate stability.Income Statement
Amprius Technologies Inc. shows significant revenue growth from $4.4 million in 2022 to $32.5 million in TTM (Trailing-Twelve-Months), indicating a strong upward trajectory. However, the company struggles with profitability as evidenced by negative gross and net profit margins. The gross profit margin and net profit margin remain negative, highlighting ongoing operational inefficiencies and high cost structures relative to revenue.40
Negative
Balance Sheet
The company demonstrates a reasonable equity position with an equity ratio of approximately 59.4% for TTM (Trailing-Twelve-Months), suggesting moderate financial stability. The debt-to-equity ratio is 0.54, indicating manageable leverage levels. However, the negative return on equity (ROE) due to persistent net losses reflects challenges in generating returns for shareholders.45
Neutral
Cash Flow
Amprius Technologies Inc. has a negative free cash flow of -$37.9 million in TTM, with an operating cash flow to net income ratio of 0.85, indicating operational cash flow is insufficient to cover net losses. Free cash flow growth is negative, signaling potential liquidity issues. The company relies heavily on financing activities for liquidity, as seen by substantial financing inflows.35
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 24.17M | 9.05M | 4.41M | 2.77M | 4.68M |
| Gross Profit | -18.33M | -14.68M | -5.44M | -4.33M | -2.02M |
| EBITDA | -40.59M | -36.90M | -16.50M | -8.46M | -6.18M |
| Net Income | -44.67M | -36.78M | -16.62M | -9.88M | -7.46M |
Balance Sheet | |||||
| Total Assets | 121.13M | 107.74M | 83.17M | 18.53M | 6.66M |
| Cash, Cash Equivalents and Short-Term Investments | 55.16M | 45.76M | 69.70M | 11.49M | 2.00K |
| Total Debt | 37.76M | 35.57M | 3.02M | 0.00 | 743.00K |
| Total Liabilities | 51.65M | 47.94M | 10.14M | 4.67M | 5.49M |
| Stockholders Equity | 69.47M | 59.80M | 73.03M | 13.86M | 1.17M |
Cash Flow | |||||
| Free Cash Flow | -36.56M | -43.10M | -15.36M | -8.63M | -5.57M |
| Operating Cash Flow | -33.35M | -25.55M | -13.88M | -8.02M | -5.04M |
| Investing Cash Flow | -3.21M | -17.55M | -1.48M | -609.00K | -527.00K |
| Financing Cash Flow | 47.15M | 19.17M | 73.63M | 20.11M | 5.57M |
Amprius Technologies Inc Technical Analysis
Positive
8.20
Price Trends
4.48
Positive
3.44
Positive
2.90
Positive
Market Momentum
1.21
Negative
75.89
Negative
64.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPX, the sentiment is Positive. The current price of 8.2 is above the 20-day moving average (MA) of 6.50, above the 50-day MA of 4.48, and above the 200-day MA of 2.90, indicating a bullish trend. The MACD of 1.21 indicates Negative momentum. The RSI at 75.89 is Negative, neither overbought nor oversold. The STOCH value of 64.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMPX.
Amprius Technologies Inc Peers Comparison
Overall Rating
UnderperformOutperform
Sector (67)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | £2.85B | 10.57 | 4.69% | 213.48% | 2.73% | -20.56% | |
59 Neutral | $773.05M | ― | -20.64% | ― | 3.22% | -33.20% | |
58 Neutral | $1.09B | ― | -26.38% | ― | 21.69% | -28.26% | |
54 Neutral | $1.57B | ― | 125.43% | ― | 37.60% | -161.38% | |
54 Neutral | $999.33M | ― | -68.88% | ― | 209.20% | 4.24% | |
43 Neutral | $30.08M | ― | -172.05% | ― | -58.05% | -6.90% | |
26 Underperform | $46.36M | ― | -860.70% | ― | ― | -12310.81% |
* Industrials Sector Average
Performance Comparison
AMPX
Amprius Technologies Inc
8.20
7.01
589.08%
MVST
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3.31
2.90
707.32%
EOSE
Eos Energy Enterprises
6.37
4.58
255.87%
GWH
ESS Tech
1.94
-9.17
-82.54%
SDST
Stardust Power
0.53
-11.79
-95.70%
SLDP
Solid Power
4.31
2.42
128.04%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.