Amprius Technologies Inc (AMPX) AI Stock Analysis

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Amprius Technologies Inc

(NYSE:AMPX)

Rating:56Neutral

Price Target:

$8.00

▲(7.53% Upside)

Amprius Technologies Inc's overall stock score is driven by strong revenue growth and positive developments from the earnings call, including strategic partnerships and a positive gross margin. However, significant financial challenges, including negative profitability and cash flow, weigh heavily on the score. The technical analysis shows positive momentum, but valuation concerns due to negative earnings limit the stock's attractiveness.

Positive Factors

Customer Base Expansion

The company shipped batteries to 102 customers in the quarter, including 46 new customers, indicating a broadening customer base.

Financial Performance

Amprius has achieved a positive gross margin earlier than expected, which is a strong indicator of financial health.

Market Opportunities

Amprius is well-positioned to capture a significant share of the $5 billion drone battery market, with ample growth opportunities ahead.

Negative Factors

Future Profitability

Overall gross margins are expected to be negative in 2025 because of low absorption.

Potential Dilution

The $66 million remaining at-the-money equity facility presents a substantial amount of dilution if exercised at the current valuation.

Stock Volatility

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

$930.56M

Dividend YieldN/A

Average Volume (3M)10.62M

Price to Earnings (P/E)―

Beta (1Y)2.17

Revenue Growth209.20%

EPS Growth4.24%

CountryUS

Employees99

SectorIndustrials

Sector Strength78

IndustryElectrical Equipment & Parts

Share Statistics

EPS (TTM)-0.05

Shares Outstanding125,075,836

10 Day Avg. Volume10,328,831

30 Day Avg. Volume10,617,107

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market Cap0.33

Enterprise Value/Revenue6.81

Enterprise Value/Gross Profit-36.45

Enterprise Value/Ebitda-8.83

Forecast

1Y Price Target

$12.33

Price Target Upside65.73% Upside

Rating ConsensusStrong Buy

Number of Analyst Covering7

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:Aug 07, 2025

(Q2-2025)

% Change Since: -3.63%|

Next Earnings Date:Nov 06, 2025

Earnings Call Sentiment Positive

The earnings call showcased significant revenue growth, positive gross margin, and successful strategic expansions, alongside continued investment in growth and development. While operating expenses increased and a net loss was reported, the positive developments and future potential outweigh the negative aspects.

Q2-2025 Updates

Positive Updates

Record Revenue Growth

Amprius reported $15.1 million in Q2 revenue, a 34% increase from Q1 and a 350% increase from Q2 2024, driven by a greater than 450% increase in SiCore shipments.

Positive Gross Margin Achieved

Gross margin was positive at 9% for the quarter, compared to negative 21% in Q1 2025 and negative 195% in Q2 2024.

New Product Launch and Customer Engagement

Introduced SA102 with record-setting energy density, shipped to 93 customers including 43 new ones, and joined Amazon's Climate Tech Accelerator.

Contract Manufacturing Expansion

Established a contract manufacturing agreement with a leading battery manufacturer in South Korea, expanding geographic diversification.

Government Support and Strategic Initiative

Secured a $10.5 million contract with the U.S. Government Defense Innovation Unit to expand manufacturing capability in Fremont.

Negative Updates

Operating Expenses Increase

Operating expenses increased to $8.2 million, a 12% increase from Q1 2025 and a 27% increase from the prior year period.

Net Loss

Reported a GAAP net loss for the second quarter of $6.4 million, or negative $0.05 per share, despite improvements from prior quarters.

Company Guidance

During the call, Amprius Technologies provided guidance on their financial performance and strategic initiatives. For the second quarter of 2025, the company reported a total revenue of $15.1 million, a 34% increase from the first quarter and a 350% increase from Q2 2024. Gross margin turned positive at 9%, compared to negative margins in previous periods. The company highlighted its engagement with 93 customers, including new partnerships with Amazon and the U.S. Army. Amprius' SiCore platform was a key driver, with shipments increasing over 450% year-over-year, contributing to their first positive gross margin. Amprius also announced a $10.5 million contract with the U.S. Government's Defense Innovation Unit to diversify their supply chain and expand manufacturing capabilities. Looking forward, Amprius emphasized their focus on scaling production through contract manufacturing, with over 1.8 gigawatt-hours of capacity available, and continuing to drive growth through technological innovation and customer engagement. They maintained a strong cash position with $54.2 million and no debt, alongside an available $46.7 million from their at-the-market sales agreement.

Amprius Technologies Inc Financial Statement Overview

Summary

Amprius Technologies Inc. shows strong revenue growth but faces significant profitability and cash flow challenges. The company's high operational costs and negative margins pose risks, while balance sheet metrics indicate a moderate level of stability. Continued reliance on external financing could impact future financial flexibility.

Income Statement

Negative

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.

Balance Sheet

Neutral

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.

Cash Flow

Negative

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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	44.84M	24.17M	9.05M	4.41M	2.77M	4.68M
Gross Profit	-8.38M	-18.33M	-14.68M	-5.44M	-4.33M	-2.02M
EBITDA	-34.57M	-39.62M	-31.91M	-15.24M	-8.46M	-6.18M
Net Income	-38.01M	-44.67M	-36.78M	-17.33M	-9.90M	-7.42M
Balance Sheet
Total Assets	123.04M	121.13M	107.74M	83.17M	18.53M	6.66M
Cash, Cash Equivalents and Short-Term Investments	54.19M	55.16M	45.76M	69.70M	11.49M	2.00K
Total Debt	37.73M	37.76M	35.57M	3.02M	0.00	743.00K
Total Liabilities	46.39M	51.65M	47.94M	10.14M	4.67M	5.49M
Stockholders Equity	76.65M	69.47M	59.80M	73.03M	13.86M	1.17M
Cash Flow
Free Cash Flow	-34.70M	-36.56M	-43.10M	-15.36M	-8.63M	-5.57M
Operating Cash Flow	-38.35M	-33.35M	-25.55M	-13.88M	-8.02M	-5.04M
Investing Cash Flow	3.65M	-3.21M	-17.55M	-1.48M	-609.00K	-527.00K
Financing Cash Flow	41.63M	47.15M	19.17M	73.63M	20.11M	5.57M

Amprius Technologies Inc Technical Analysis

Technical Analysis Sentiment

Neutral

Last Price7.44

Price Trends

50DMA

5.93

Positive

100DMA

4.24

Positive

200DMA

3.37

Positive

Market Momentum

MACD

0.38

Positive

RSI

49.83

Neutral

STOCH

24.76

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPX, the sentiment is Neutral. The current price of 7.44 is below the 20-day moving average (MA) of 7.70, above the 50-day MA of 5.93, and above the 200-day MA of 3.37, indicating a neutral trend. The MACD of 0.38 indicates Positive momentum. The RSI at 49.83 is Neutral, neither overbought nor oversold. The STOCH value of 24.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AMPX.

Amprius Technologies Inc Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.80B	16.80	6.58%	2.07%	2.49%	-15.77%
SLDP	58 Neutral	$973.50M	―	-22.60%	―	14.82%	-19.27%
EOSE	57 Neutral	$1.64B	―	125.43%	―	128.49%	-697.81%
AMPX	56 Neutral	$930.56M	―	-68.88%	―	209.20%	4.24%
MVST	52 Neutral	$924.01M	―	-33.65%	―	20.84%	24.84%
GWH	43 Neutral	$23.27M	―	-207.48%	―	-58.05%	-6.90%
SDST	26 Underperform	$36.08M	―	-860.70%	―	―	-124.14%

* Industrials Sector Average

Performance Comparison

AMPX

Amprius Technologies Inc

7.11

5.98

529.20%

MVST

Microvast Holdings

2.74

2.44

813.33%

EOSE

Eos Energy Enterprises

5.86

3.93

203.63%

GWH

ESS Tech

1.74

-6.68

-79.33%

SDST

Stardust Power

0.41

-8.59

-95.44%

SLDP

Solid Power

5.06

3.64

256.34%

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.Date of analysis: Aug 14, 2025