Amprius Technologies Inc (AMPX)
NYSE:AMPX
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Amprius Technologies Inc
(NYSE:AMPX)
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Rating:54Neutral
Price Target:
$19.00
▲(1.77% Upside)
Action:Reiterated
Date:05/09/26
The score is held back most by weak cash flow and continued unprofitability, despite improving margins and strong revenue growth. Offsetting this, the latest earnings call was notably constructive with raised revenue guidance and an improved profitability outlook. Technically, near-term momentum is soft (below 20/50-day averages with sub-50 RSI), and valuation offers limited support given the negative P/E and no dividend yield provided.
Positive Factors
Revenue Growth & Raised Guidance
Sustained, high‑single to triple‑digit top‑line growth and an upwardly revised 2026 revenue target reflect durable commercial traction. Large defense awards and a material LSV order broaden the revenue pipeline, improving visibility for scaling manufacturing and converting design‑ins into recurring volume over the medium term.
Negative Factors
High Operating Cash Burn
Persistent negative operating and free cash flow reflect that core operations are not yet self‑funding. Continued cash burn increases reliance on external capital or conversion of contingent awards, heightening dilution and financing risk. This structural cash gap can constrain investment cadence and lengthen the timeline to sustainable profitability if not narrowed.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Raised Guidance
Sustained, high‑single to triple‑digit top‑line growth and an upwardly revised 2026 revenue target reflect durable commercial traction. Large defense awards and a material LSV order broaden the revenue pipeline, improving visibility for scaling manufacturing and converting design‑ins into recurring volume over the medium term.
Read all positive factors
Amprius Technologies Inc (AMPX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.39B
Dividend YieldN/A
Average Volume (3M)8.76M
Price to Earnings (P/E)―
Beta (1Y)1.94
Revenue Growth172.57%
EPS Growth25.87%
CountryUS
Employees99
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.30
Shares Outstanding141,627,170
10 Day Avg. Volume10,505,726
30 Day Avg. Volume8,759,279
Financial Highlights & Ratios
PEG Ratio1.01
Price to Book (P/B)9.47
Price to Sales (P/S)13.47
P/FCF Ratio-27.68
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue23.67
Enterprise Value/Gross Profit130.56
Enterprise Value/Ebitda-120.61
Forecast
1Y Price Target
$21.00Price Target Upside12.48% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-0.06
Revenue Forecast (FY)$130.47M
Amprius Technologies Inc Business Overview & Revenue Model
Company Description
Amprius Technologies, Inc. manufactures and distributes lithium-ion batteries. Its products include silicon nanowire anode lithium-ion batteries. The company serves the aerospace, defense, and electric vehicle industries. Amprius Technologies, Inc...
How the Company Makes Money
Amprius primarily makes money by selling lithium-ion battery cells to customers. Revenue is generated from commercial shipments of its high-energy-density cells and from supplying cells that meet customer-specific form factors and performance requ...
Amprius Technologies Inc Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive commercial momentum story — very high revenue growth (Q1 +153% YoY), a raised 2026 revenue target, meaningful defense and commercial customer awards, DIU funding increases, and technical/manufacturing validation — while acknowledging near-term margin pressure and a sizable but managed cash draw tied to working capital, a Colorado lease settlement and legacy product wind-down. Management provided visibility on guidance (revenue, adjusted EBITDA, net loss limits), capital structure actions to reduce future dilution, and a path to recover gross margins as manufacturing capacity and logistics improve. Overall the highlights (strong growth, customer wins, contract expansions and strategic balance-sheet moves) materially outweigh the temporary lowlights (margin step-back, Q1 operating loss and cash consumption).Positive Updates
Strong Revenue Growth and Raised Guidance
Q1 revenue of $28.5M, up 153% year-over-year and 13% sequentially; company raised 2026 revenue guidance to at least $130M (up $5M from prior forecast).
Negative Updates
Gross Margin Step-Back and Mix Pressure
Q1 gross margin was 20% (Q4 was 24%); excluding one month of Colorado costs gross margin would have been ~22%; temporary margin drag driven by SiMaxx-related overhead (~$3M of overhead against only $0.618M of SiMaxx revenue) and one month of Colorado costs.
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Q1-2026 Updates
Positive
Negative
Strong Revenue Growth and Raised Guidance
Q1 revenue of $28.5M, up 153% year-over-year and 13% sequentially; company raised 2026 revenue guidance to at least $130M (up $5M from prior forecast).
Read all positive updates
Company Guidance
Amprius raised 2026 revenue guidance to at least $130.0 million (up $5.0M from prior) after Q1 results of $28.5M (153% YoY, +13% sequential), and expects a reacceleration in the June quarter; Q1 gross profit was $5.7M (20% GM; ~22% ex-Colorado) and management is targeting ~25% full‑year gross margin; Q1 adjusted EBITDA was negative $1.8M but 2026 adjusted EBITDA is guided to be at least $4.0M, with a net‑loss ceiling of no more than $8.0M (less than $0.06 per share) assuming ~136.9M shares (Q1 GAAP net loss was $5.0M, -$0.04/share); cash was $62.4M (no debt), down from $90.5M after $37.3M cash use (including $11.5M AR increase with ~$6.5M collected and ~$20M Colorado lease settlement), liabilities fell ~$29.8M and shareholders’ equity was $109.4M; Q1 OpEx totaled $12.4M (R&D $3.8M, SG&A $8.6M) with full‑year OpEx expected to top out near $50M, and 2026 CapEx is expected to remain under $10M, largely funded by the DIU; product mix was 97% SiCore and regional mix was ~58% EMEA / 21% North America / 21% APAC.Amprius Technologies Inc Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
62
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 90.26M | 73.01M | 24.17M | 8.79M | 4.41M | 2.77M |
| Gross Profit | 16.36M | 8.26M | -18.33M | -14.94M | -5.44M | -4.33M |
| EBITDA | -17.71M | -42.28M | -39.35M | -36.90M | -15.24M | -8.46M |
| Net Income | -39.70M | -44.02M | -44.67M | -36.78M | -17.33M | -9.90M |
Balance Sheet | ||||||
| Total Assets | 130.78M | 156.89M | 121.13M | 107.74M | 83.17M | 18.53M |
| Cash, Cash Equivalents and Short-Term Investments | 62.35M | 90.47M | 55.16M | 45.76M | 69.70M | 11.49M |
| Total Debt | 6.56M | 39.87M | 37.76M | 35.57M | 3.02M | 0.00 |
| Total Liabilities | 21.37M | 53.08M | 51.65M | 47.94M | 10.14M | 4.67M |
| Stockholders Equity | 109.41M | 103.81M | 69.47M | 59.80M | 73.03M | 13.86M |
Cash Flow | ||||||
| Free Cash Flow | -58.75M | -35.53M | -36.56M | -43.10M | -15.36M | -8.63M |
| Operating Cash Flow | -54.28M | -31.13M | -33.35M | -25.55M | -13.88M | -8.02M |
| Investing Cash Flow | -4.11M | -4.40M | -3.21M | -17.55M | -1.48M | -609.00K |
| Financing Cash Flow | 71.12M | 71.04M | 47.15M | 19.17M | 73.63M | 20.11M |
Amprius Technologies Inc Technical Analysis
Negative
18.67
Price Trends
18.47
Negative
14.64
Positive
12.49
Positive
Market Momentum
-0.40
Positive
41.02
Neutral
22.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPX, the sentiment is Negative. The current price of 18.67 is below the 20-day moving average (MA) of 19.56, above the 50-day MA of 18.47, and above the 200-day MA of 12.49, indicating a neutral trend. The MACD of -0.40 indicates Positive momentum. The RSI at 41.02 is Neutral, neither overbought nor oversold. The STOCH value of 22.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AMPX.
Amprius Technologies Inc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $8.73B | 15.10 | 16.61% | 0.67% | 5.20% | -0.12% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $473.08M | 2.59 | -10.76% | ― | -10.44% | 67.16% | |
54 Neutral | $2.39B | -114.39 | -40.40% | ― | 172.57% | 25.87% | |
53 Neutral | $2.67B | 0.83 | 41.51% | ― | 725.76% | 20.97% | |
53 Neutral | $1.33B | -8.17 | -0.28% | ― | 49.88% | 27.54% | |
51 Neutral | $5.27B | -3.20 | -139.28% | ― | 15.19% | 42.87% |
* Industrials Sector Average
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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.