Amprius Technologies Inc (AMPX)
NYSE:AMPX
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Amprius Technologies Inc
(NYSE:AMPX)
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Rating:59Neutral
Price Target:
$19.00
▲(13.77% Upside)
Action:ReiteratedDate:03/07/26
The score is driven by strong technical momentum (price well above major moving averages with positive MACD) and a positive earnings outlook with guidance for 2026 growth and adjusted EBITDA turning positive. Offsetting this, current fundamentals remain weak due to sizable losses and ongoing cash burn, and valuation is constrained by negative earnings and no dividend yield support.
Positive Factors
Proprietary silicon-anode technology and product leadership
Amprius's silicon-anode SiCore platform and 520 Wh/kg demonstrated performance create a durable technical moat in weight-sensitive markets (aviation, defense, drones). Superior energy-density supports differentiated product value, longer lifecycle programs, and higher switching costs for customers over years.
Negative Factors
Ongoing negative operating and free cash flow
Sustained negative operating and free cash flow indicate the business still consumes capital to scale. Continued cash burn increases dependency on external financing or dilutive actions, constrains reinvestment timing, and leaves the company vulnerable if revenue conversion or margin improvement slows.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary silicon-anode technology and product leadership
Amprius's silicon-anode SiCore platform and 520 Wh/kg demonstrated performance create a durable technical moat in weight-sensitive markets (aviation, defense, drones). Superior energy-density supports differentiated product value, longer lifecycle programs, and higher switching costs for customers over years.
Read all positive factors
Amprius Technologies Inc (AMPX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.29B
Dividend YieldN/A
Average Volume (3M)9.47M
Price to Earnings (P/E)―
Beta (1Y)2.12
Revenue Growth234.14%
EPS Growth42.67%
CountryUS
Employees99
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.18
Shares Outstanding137,019,000
10 Day Avg. Volume7,096,221
30 Day Avg. Volume9,469,561
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 Cap0.99
Enterprise Value/Revenue31.06
Enterprise Value/Gross Profit274.42
Enterprise Value/Ebitda-114.79
Forecast
1Y Price Target
$20.00Price Target Upside19.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-0.06
Revenue Forecast (FY)$126.08M
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 (and, where applicable, battery packs or related deliverables) to customers that require high-performance energy storage. Revenue is generated through (1) product revenue from comm...
Amprius Technologies Inc Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and commercial narrative: record quarterly and annual revenue, major gross margin improvement, technical validation (CES award, high energy-density metrics), meaningful customer expansion, and tangible progress toward NDAA compliance and U.S. manufacturing partnerships. At the same time, near-term financials are weighed down by a large one-time Colorado charge, negative adjusted EBITDA in the quarter, and operational scaling risks (converting many evaluations into high-volume orders and finalizing supplier contracts). Management gave constructive 2026 guidance (≥$125M revenue and positive adjusted EBITDA) and outlined a credible long-term margin and capacity target, but execution risk remains around scaling, cash timing (the $20M cash settlement), and converting the pipeline.Positive Updates
Record Quarterly and Annual Revenue
Q4 revenue of $25.2M, up 18% quarter-over-quarter and +137% year-over-year; full-year 2025 revenue of $73.0M (3x 2024), and an annualized revenue run-rate above $100M.
Negative Updates
GAAP Losses and One-Time Charges
Q4 operating loss of $25.4M included a one-time $22.5M charge related to the decision not to develop the Colorado facility; GAAP net loss in the quarter was $24.3M (-$0.18 per share). Excluding the one-time charge, Q4 operating loss would have been $2.9M and GAAP loss would have been $1.9M (-$0.01 per share).
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Q4-2025 Updates
Positive
Negative
Record Quarterly and Annual Revenue
Q4 revenue of $25.2M, up 18% quarter-over-quarter and +137% year-over-year; full-year 2025 revenue of $73.0M (3x 2024), and an annualized revenue run-rate above $100M.
Read all positive updates
Company Guidance
The company guided to at least $125.0M of revenue in 2026 with its first full year of adjusted positive EBITDA of at least $4.0M, implying a net loss of about $8.0M (≈-$0.06 per share based on 134.5M shares), and expects CapEx under $10.0M (with a $14.8M DIU contract expected to cover most capital); this builds on 2025 results of $73.0M revenue (3x 2024), Q4 revenue of $25.2M (+18% QoQ), Q4 gross margin of 24% (FY gross margin 11% vs -76% in 2024), Q4 adjusted EBITDA of -$1.8M (would have been +$0.177M excluding $1.6M Colorado costs), a cash balance of ~$90.5M with no debt, termination of the ATM, and longer-term targets of >$600M contracted capacity, >30% gross margins and ≥20% EBITDA margins by the end of the decade.Amprius Technologies Inc Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 73.01M | 24.17M | 8.79M | 4.41M | 2.77M |
| Gross Profit | 8.26M | -18.33M | -14.94M | -5.44M | -4.33M |
| EBITDA | -42.28M | -39.35M | -36.90M | -15.24M | -8.46M |
| Net Income | -44.02M | -44.67M | -36.78M | -17.33M | -9.90M |
Balance Sheet | |||||
| Total Assets | 156.89M | 121.13M | 107.74M | 83.17M | 18.53M |
| Cash, Cash Equivalents and Short-Term Investments | 90.47M | 55.16M | 45.76M | 69.70M | 11.49M |
| Total Debt | 39.87M | 37.76M | 35.57M | 3.02M | 0.00 |
| Total Liabilities | 53.08M | 51.65M | 47.94M | 10.14M | 4.67M |
| Stockholders Equity | 103.81M | 69.47M | 59.80M | 73.03M | 13.86M |
Cash Flow | |||||
| Free Cash Flow | -35.53M | -36.56M | -43.10M | -15.36M | -8.63M |
| Operating Cash Flow | -31.13M | -33.35M | -25.55M | -13.88M | -8.02M |
| Investing Cash Flow | -4.40M | -3.21M | -17.55M | -1.48M | -609.00K |
| Financing Cash Flow | 71.04M | 47.15M | 19.17M | 73.63M | 20.11M |
Amprius Technologies Inc Technical Analysis
Positive
16.70
Price Trends
14.19
Positive
12.25
Positive
10.62
Positive
Market Momentum
0.61
Positive
52.65
Neutral
51.67
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 16.7 is below the 20-day moving average (MA) of 17.61, above the 50-day MA of 14.19, and above the 200-day MA of 10.62, indicating a neutral trend. The MACD of 0.61 indicates Positive momentum. The RSI at 52.65 is Neutral, neither overbought nor oversold. The STOCH value of 51.67 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $6.56B | 15.10 | 16.61% | 0.67% | 6.17% | 20.86% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $2.29B | ― | -49.74% | ― | 234.14% | 42.67% | |
57 Neutral | $494.73M | ― | -7.40% | ― | 19.82% | -7.14% | |
52 Neutral | $1.21B | ― | -0.23% | ― | 45.98% | 44.14% | |
50 Neutral | $3.51B | -1.40 | -110.00% | ― | 2.53% | -2.83% | |
46 Neutral | $1.52B | -3.08 | 73.98% | ― | 324.10% | -214.91% |
* Industrials Sector Average
AMPX
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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.