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Amprius Technologies Inc (AMPX)
NYSE:AMPX
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Amprius Technologies Inc
(NYSE:AMPX)
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Rating:50Neutral
Price Target:
$8.00
▼(-13.42% Downside)
The score is held down primarily by weak financial performance (large losses and weak cash flow despite revenue growth) and bearish technicals (below key moving averages with negative MACD). The latest earnings call was a clear positive with strong revenue acceleration and margin improvement, but concentration and geopolitical risks remain, and valuation support is limited by negative earnings and no dividend.
Positive Factors
Revenue Growth
The significant revenue growth indicates strong demand for Amprius' products and successful market penetration, enhancing long-term business prospects.
Customer Expansion
The expansion of the customer base suggests increasing market acceptance and potential for recurring revenue, supporting sustainable growth.
Manufacturing Capacity
Securing significant manufacturing capacity ensures scalability and flexibility, positioning Amprius to meet growing demand efficiently.
Negative Factors
Profitability Challenges
Persistent profitability issues highlight cost management challenges, potentially limiting financial sustainability and investment capacity.
Dependence on Aerospace
Heavy reliance on the aerospace sector exposes Amprius to sector-specific risks, which could impact revenue stability if demand shifts.
Geopolitical Risks
High exposure to international markets subjects Amprius to geopolitical and trade risks, potentially affecting revenue and operations.
Amprius Technologies Inc (AMPX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.24B
Dividend YieldN/A
Average Volume (3M)5.10M
Price to Earnings (P/E)―
Beta (1Y)2.33
Revenue Growth234.14%
EPS Growth42.67%
CountryUS
Employees99
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.03
Shares Outstanding130,483,840
10 Day Avg. Volume5,139,469
30 Day Avg. Volume5,103,311
Financial Highlights & Ratios
PEG Ratio-1.37
Price to Book (P/B)4.11
Price to Sales (P/S)11.80
P/FCF Ratio-7.80
Enterprise Value/Market Cap0.00
Enterprise Value/Revenue0.00
Enterprise Value/Gross Profit0.00
Enterprise Value/Ebitda0.00
Forecast
1Y Price Target
$17.17Price Target Upside85.79% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.06
Revenue Forecast (FY)$123.25M
Amprius Technologies Inc Business Overview & Revenue Model
Company DescriptionAmprius 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. was incorporated in 2008 and is headquartered in Fremont, California.
How the Company Makes MoneyAmprius Technologies generates revenue through the sale of its high-performance battery products to various industries, including electric vehicles and aerospace. The company's revenue model is primarily based on direct sales of its battery cells and systems, which are sold to manufacturers and integrators in these sectors. Additionally, Amprius may engage in strategic partnerships and collaborations with key players in the EV and aerospace markets to co-develop customized battery solutions, thereby creating further revenue opportunities. The company's emphasis on innovation and superior technology positions it favorably to capitalize on the growing demand for energy-dense battery solutions, driving its earnings potential.
Amprius Technologies Inc Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 19, 2026
Earnings Call Sentiment Positive
The earnings call presented a positive outlook for Amprius Technologies, with record-breaking revenue growth, significant customer expansion, and successful deployment of second-generation battery products. However, the company faces challenges related to dependence on the aerospace segment and geopolitical risks. Despite these challenges, the overall sentiment remains optimistic due to strategic partnerships and manufacturing scalability.Q3-2025 Updates
Positive Updates
Record Revenue and Growth
Amprius achieved record revenue of $21.4 million in Q3 2025, a 42% increase from Q2 and up 173% from the same quarter last year.
Significant Customer Expansion
Amprius shipped batteries to 159 end customers in Q3, with 80 new customers joining their platform, showcasing strong market traction and customer acquisition.
SiCore Battery Platform Success
The second-generation SiCore batteries saw a greater than 4x increase in shipments compared to Q3 2024, contributing significantly to the revenue growth.
Positive Gross Margin
Amprius reported a positive gross margin for the second consecutive quarter, with a gross profit margin of 15%, up from 9% in the previous quarter.
Strategic Partnership with Amazon
Amprius advanced to the integration assessment phase of the Amazon Devices Climate Tech Accelerator, indicating potential future collaboration.
Expansion of Manufacturing Capacity
Amprius secured over 1.8 gigawatt hours of manufacturing capacity through partners, ensuring scalability and flexibility in production.
Negative Updates
Dependence on Aerospace Segment
Approximately 75% of Q3 revenue came from the aviation segment, indicating a reliance on a single market which could pose risks if demand fluctuates.
Geopolitical and Trade Challenges
75% of revenue was derived from outside the U.S., highlighting potential vulnerabilities to geopolitical and trade tensions, including tariffs.
Operating Expenses
Quarterly operating expenses increased year-over-year by $1.9 million due to investments in sales and go-to-market efforts.
Company Guidance
During the third quarter of 2025, Amprius Technologies achieved record revenue of $21.4 million, marking a 42% increase from the previous quarter and a 173% rise from Q3 2024. The company attracted 80 new customers, bringing the total to 444 since Q1 2023, with shipments to 159 end customers in the quarter. Amprius' second-generation SiCore batteries led to a fourfold increase in shipments compared to Q3 2024, contributing to a positive gross margin for the second consecutive quarter. Approximately 75% of revenue came from the aviation sector, particularly from unmanned aerial systems (UAS), while 75% of revenue was generated outside the United States. The company also secured a $35 million follow-on purchase order from a leading UAS manufacturer and deepened its relationship with AeroVironment and other partners. Amprius' financial results included a gross margin of 15% and an operating loss reduced to $4.7 million, with an adjusted EBITDA loss of $1.4 million. The company ended the quarter with $73.2 million in cash and no debt.Amprius Technologies Inc Financial Statement Overview
Summary
Amprius Technologies Inc exhibits strong revenue growth, but faces significant profitability and cash flow challenges. The balance sheet is stable with moderate leverage, yet negative returns on equity highlight ongoing financial struggles.Income Statement
Amprius Technologies Inc has shown significant revenue growth of 30.27% in the TTM, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by negative margins across the board, including a net profit margin of -53.16% and an EBIT margin of -47.26%. The gross profit margin is marginally positive at 0.08%, suggesting cost management issues. Overall, while revenue growth is a positive sign, the lack of profitability is a major concern.Balance Sheet
The balance sheet shows a moderate debt-to-equity ratio of 0.37, indicating a manageable level of leverage. However, the return on equity is negative at -38.85%, reflecting the company's inability to generate profits from shareholders' equity. The equity ratio stands at 65.96%, suggesting a strong equity base relative to total assets. While the company maintains a solid equity position, the negative ROE highlights ongoing profitability challenges.Cash Flow
Cash flow analysis reveals a concerning trend with negative free cash flow growth of -3.61% in the TTM. The operating cash flow to net income ratio is -2.10, indicating cash flow issues relative to net income. However, the free cash flow to net income ratio is slightly positive at 1.04, suggesting some ability to convert net income into free cash flow. Despite this, the overall cash flow position remains weak, with ongoing negative cash flows.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.41M | 23.57M | 8.79M | 4.41M | 2.77M | 4.68M |
| Gross Profit | 44.00K | -18.93M | -14.94M | -5.44M | -4.33M | -2.02M |
| EBITDA | -27.46M | -40.59M | -36.90M | -15.24M | -8.46M | -6.18M |
| Net Income | -31.05M | -44.67M | -36.78M | -17.33M | -9.90M | -7.42M |
Balance Sheet | ||||||
| Total Assets | 156.47M | 121.13M | 107.74M | 83.17M | 18.53M | 6.66M |
| Cash, Cash Equivalents and Short-Term Investments | 73.22M | 55.16M | 45.76M | 69.70M | 11.49M | 2.00K |
| Total Debt | 37.70M | 37.76M | 35.57M | 3.02M | 0.00 | 743.00K |
| Total Liabilities | 53.28M | 51.65M | 47.94M | 10.14M | 4.67M | 5.49M |
| Stockholders Equity | 103.19M | 69.47M | 59.80M | 73.03M | 13.86M | 1.17M |
Cash Flow | ||||||
| Free Cash Flow | -32.14M | -36.56M | -43.10M | -15.36M | -8.63M | -5.57M |
| Operating Cash Flow | -33.72M | -33.35M | -25.55M | -13.88M | -8.02M | -5.04M |
| Investing Cash Flow | 1.58M | -3.21M | -17.55M | -1.48M | -609.00K | -527.00K |
| Financing Cash Flow | 70.52M | 47.15M | 19.17M | 73.63M | 20.11M | 5.57M |
Amprius Technologies Inc Technical Analysis
Positive
9.24
Price Trends
10.69
Negative
10.48
Negative
7.38
Positive
Market Momentum
-0.48
Negative
49.16
Neutral
77.28
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 9.24 is above the 20-day moving average (MA) of 9.15, below the 50-day MA of 10.69, and above the 200-day MA of 7.38, indicating a neutral trend. The MACD of -0.48 indicates Negative momentum. The RSI at 49.16 is Neutral, neither overbought nor oversold. The STOCH value of 77.28 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.84B | 18.50 | 18.22% | 0.67% | 6.17% | 20.86% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $1.71B | -9.69 | -68.95% | ― | 45.98% | 44.14% | |
52 Neutral | $1.15B | -6.76 | -35.82% | ― | 19.82% | -7.14% | |
50 Neutral | $1.24B | -38.49 | -39.01% | ― | 234.14% | 42.67% | |
49 Neutral | $4.54B | ― | ― | ― | 324.10% | -214.91% | |
48 Neutral | $3.05B | -1.04 | -95.42% | ― | 2.53% | -2.83% |
* 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.