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Amprius Technologies Inc
(NYSE:AMPX)
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Rating:50Neutral
Price Target:
$11.00
▲(19.05% Upside)
Action:Reiterated
Date:08/07/26
The score is held back primarily by weak financial performance (ongoing losses and heavy negative operating/free cash flow) despite strong revenue growth and improving gross margins. The latest earnings call meaningfully offsets some risk via raised guidance and improving profitability metrics, but technicals remain mixed-to-weak (below key longer-term moving averages) and valuation support is limited given negative earnings and no dividend yield provided.
Positive Factors
Revenue Growth
Sustained top-line ramp across consecutive quarters indicates durable commercial adoption of silicon-anode cells. A growing revenue base helps spread fixed costs, supports scale economies, and underpins the path to operating leverage and eventual positive cash generation as capacity and qualification progress.
Negative Factors
Cash Burn & Negative Free Cash Flow
Deep negative operating and free cash flow imply persistent external financing needs and dilution risk until operations generate positive cash. Continued cash burn constrains strategic flexibility, increases reliance on capital markets, and elevates execution risk during multi‑quarter capacity builds.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained top-line ramp across consecutive quarters indicates durable commercial adoption of silicon-anode cells. A growing revenue base helps spread fixed costs, supports scale economies, and underpins the path to operating leverage and eventual positive cash generation as capacity and qualification progress.
Read all positive factors
Amprius Technologies Inc (AMPX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.76B
Dividend YieldN/A
Average Volume (3M)6.63M
Price to Earnings (P/E)―
Beta (1Y)2.29
Revenue Growth143.61%
EPS Growth13.94%
CountryUS
Employees97
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.29
Shares Outstanding146,080,610
10 Day Avg. Volume5,543,465
30 Day Avg. Volume6,628,115
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$23.71Price Target Upside156.65% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-0.07
Revenue Forecast (FY)$138.74M
Amprius Technologies Inc Business Overview & Revenue Model
Company Description
Amprius Technologies, Inc. is a company primarily focused on the development, production, and supply of advanced lithium-ion battery solutions. Their innovative product line notably includes cutting-edge silicon nanowire anode lithium-ion batterie...
How the Company Makes Money
Amprius makes money primarily by selling lithium-ion battery cells and related battery solutions that incorporate its silicon-anode technology. Revenue is generated from commercial shipments (product sales) to customers who integrate these cells i...
Amprius Technologies Inc Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
Overall the call conveyed a positive operational and financial momentum: sizable sequential and year-over-year revenue growth, meaningful gross margin expansion, improved adjusted EBITDA trending toward breakeven, a stronger cash position, multiple large commercial and defense wins, and raised full-year guidance. The company still faces near-term challenges — GAAP losses remain, adjusted EBITDA is slightly negative, concentration in product and region creates exposure, and NDAA-driven supply-chain and domestic capacity build-out carry execution and timing risks. Management highlighted progress on NDAA compliance, pilot line installation, and strategic partnerships, but noted potential lumpy margins and multi‑quarter lead times as production and qualification scale.Positive Updates
Record Quarterly Revenue and Strong Growth
Q2 revenue of $34.0M, up 19% sequentially and 2.3x year-over-year; six consecutive quarters of sequential growth and an implied annual run rate of $136M. First-half 2026 revenue of $62.6M, up 137% year-over-year.
Negative Updates
Continued GAAP Net Loss
Q2 GAAP net loss attributable to common shareholders of $5.1M (‑$0.04 per share); first-half GAAP net loss $10.1M. Adjusted net loss excluding a $1.9M warrant-related noncash adjustment was $3.2M in Q2 and $8.2M for H1 2026.
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Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue and Strong Growth
Q2 revenue of $34.0M, up 19% sequentially and 2.3x year-over-year; six consecutive quarters of sequential growth and an implied annual run rate of $136M. First-half 2026 revenue of $62.6M, up 137% year-over-year.
Read all positive updates
Company Guidance
Amprius raised 2026 guidance again, now targeting at least $140.0M of revenue (up from >$130M in May and >$125M in March), gross margins of at least 28%, and adjusted EBITDA of more than $4.0M, while reiterating a GAAP net loss of $10.0M or less (≤ $0.08 loss per diluted share, assuming 143.5M weighted average shares); Q2 results that underpin the update included $34.0M revenue (up 19% sequentially and 2.3x YoY), H1 revenue of $62.6M (up 137% YoY) and an annualized run rate of $136M, Q2 gross margin 27% (H1 24%), Q2 adjusted EBITDA of -$1.0M (trailing 12‑month adjusted EBITDA -$0.8M, -1% margin), Q2 GAAP net loss $5.1M (-$0.04/share) and Q2 non‑GAAP adjusted net loss excluding a $1.9M warrant fair‑value adjustment of $3.2M (-$0.02/share); balance sheet and operating metrics include $74.5M cash and no debt, accounts receivable $40.7M, inventory $11.5M, YTD CapEx $2.8M (vs. < $10M planned for the year), plus program/order metrics such as a $24M European order to be shipped over the next ~2.5–3 quarters and a Stark contract expected to generate at least $100M through 2029, and longer‑term targets of >$600M contracted capacity, >30% gross margin and ≥20% adjusted EBITDA margins by decade‑end.Amprius Technologies Inc Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 109.23M | 73.01M | 24.17M | 8.79M | 4.41M | 2.77M |
| Gross Profit | 24.30M | 8.26M | -18.33M | -14.94M | -5.44M | -4.33M |
| EBITDA | -34.09M | -39.66M | -39.62M | -34.97M | -15.24M | -8.46M |
| Net Income | -38.40M | -44.02M | -44.67M | -36.78M | -17.33M | -9.90M |
Balance Sheet | ||||||
| Total Assets | 149.18M | 156.89M | 121.13M | 107.74M | 83.17M | 18.53M |
| Cash, Cash Equivalents and Short-Term Investments | 74.52M | 90.47M | 55.16M | 45.76M | 69.70M | 11.49M |
| Total Debt | 6.38M | 39.87M | 37.76M | 35.57M | 3.02M | 0.00 |
| Total Liabilities | 23.55M | 53.08M | 51.65M | 47.94M | 10.14M | 4.67M |
| Stockholders Equity | 125.64M | 103.81M | 69.47M | 59.80M | 73.03M | 13.86M |
Cash Flow | ||||||
| Free Cash Flow | -58.44M | -35.53M | -36.56M | -43.10M | -15.36M | -8.63M |
| Operating Cash Flow | -52.87M | -31.13M | -33.35M | -25.55M | -13.88M | -8.02M |
| Investing Cash Flow | -5.21M | -4.40M | -3.21M | -17.55M | -1.48M | -609.00K |
| Financing Cash Flow | 77.18M | 71.04M | 47.15M | 19.17M | 73.63M | 20.11M |
Amprius Technologies Inc Technical Analysis
Negative
9.24
Price Trends
13.19
Negative
15.76
Negative
13.76
Negative
Market Momentum
-0.20
Negative
55.65
Neutral
86.35
Negative
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 9.24 is below the 20-day moving average (MA) of 10.44, below the 50-day MA of 13.19, and below the 200-day MA of 13.76, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 55.65 is Neutral, neither overbought nor oversold. The STOCH value of 86.35 is Negative, 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.79B | 19.55 | 15.60% | 0.55% | 3.70% | -14.17% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $3.10B | -1.68 | -176.19% | ― | 10.59% | 41.83% | |
51 Neutral | $287.95M | 5.55 | -10.76% | ― | -13.03% | ― | |
50 Neutral | $1.76B | -42.11 | -34.75% | ― | 143.61% | 13.94% | |
49 Neutral | $1.05B | -5.91 | -67.92% | ― | 49.88% | 27.54% | |
46 Neutral | $1.54B | -0.94 | 55.63% | ― | 533.87% | 31.49% |
* 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.