- Amprius Technologies (AMPX) Raises Outlook After Q1 Results
May 10, 2026
Amprius Technologies, Inc. (NYSE:AMPX) is one of the 10 Best Battery Technology Stocks to Buy Now.Amprius Technologies (AMPX) Raises Outlook After Q1 Results
On May 6, 2026, Amprius Technologies, Inc. (NYSE:AMPX) reported its Q1 2026 results, with revenue going beyond 2.5x year-over-year, reaching $28.5 million. The revenue growth was driven by approximately $500 million in new U.S. defense orders and a notable $21 million purchase order for light electric vehicles in China. Amprius Technologies, Inc. (NYSE:AMPX) raised its full-year revenue outlook to at least $130 million and narrowed net losses significantly compared to the prior year.
These results from the first quarter of 2026 align with the “bull case” thesis covered by Insider Monkey earlier this year. It identified Amprius Technologies, Inc. (NYSE:AMPX) as a pivotal investment after citing the transitions from R&D to commercial scaling under new CEO Tom Stepien. Additionally, the company is also improving its position in capturing the high-performance mobility market by leveraging a contract manufacturing strategy and industry-leading silicon anode technology. The latter offers energy densities nearly double that of conventional cells.
Founded in 2008, Amprius Technologies, Inc. (NYSE:AMPX) is a pioneer in ultra-high energy density lithium-ion batteries. Headquartered in California, the company develops, manufactures, and markets lithium-ion batteries for industries including aviation, electric vehicles, and light electric vehicles.
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- Amprius Technologies Q1 Earnings Call Highlights
May 9, 2026
Amprius Technologies logo
Key Points
Interested in Amprius Technologies, Inc.? Here are five stocks we like better. Amprius Technologies posted record Q1 2026 revenue of $28.5 million, up 153% year over year, and raised its full-year revenue outlook to at least $130 million from at least $125 million. The company said demand is being driven by its SiCore silicon-anode batteries, with strong adoption in unmanned aerial systems, defense, and light electric vehicles; it also highlighted a $21 million purchase order from a China-based LEV customer and expanding U.S. traction. Amprius ended the quarter with $62.4 million in cash and no debt, while also moving to simplify its capital structure through a warrant exchange that could avoid at least $70 million of dilution.
Amprius Technologies Ups the Voltage on Forward Outlook
Amprius Technologies (NYSE:AMPX) reported record first-quarter 2026 revenue and raised its full-year sales outlook, citing expanding adoption of its silicon-anode batteries across unmanned aerial systems, light electric vehicles and defense-related applications.
Chief Executive Officer Tom Stepien said the company generated first-quarter revenue of $28.5 million, up 153% year over year and 13% sequentially. Chief Financial Officer Ricardo Rodriguez said the results gave Amprius confidence to lift its 2026 revenue forecast to at least $130 million, up from a prior baseline of at least $125 million.
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“Our second generation SiCore silicon anode batteries are gaining broad adoption across unmanned aerial system customers, and we are pleased to see the momentum we have built in Europe is now taking hold in the United States,” Stepien said.
SiCore Drives Product Mix as SiMaxx Winds Down
Rodriguez said SiCore represented 97% of product revenue in the quarter, continuing Amprius’ shift away from its legacy SiMaxx platform. Revenue by geography was 58% from Europe, the Middle East and Africa, 21% from North America and 21% from Asia Pacific. He said the North American share increased “meaningfully” both sequentially and year over year, reflecting growing interest from U.S.-based customers.
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Gross profit was $5.7 million, resulting in a 20% gross margin, down from 24% in the fourth quarter. Rodriguez attributed the decline largely to overhead tied to the Fremont facility as SiMaxx winds down. He said SiMaxx-related overhead costs were more than $3 million against only $618,000 of revenue, creating a “material but temporary drag” on blended margin. Excluding one month of Colorado expenses, gross margin would have been 22%, he said.
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Operating expenses totaled $12.4 million, including $3.8 million in research and development and $8.6 million in selling, general and administrative expenses. The company reported an operating loss of $6.7 million, adjusted EBITDA of negative $1.8 million and a GAAP net loss of $5 million, or $0.04 per share, based on approximately 136.9 million weighted average shares outstanding.
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Amprius ended the quarter with $62.4 million in cash and no debt. Rodriguez said cash declined from $90.5 million at year-end due in part to an $11.5 million increase in accounts receivable and an approximately $20 million payment to settle the Colorado facility lease obligation. He said that settlement resolved what would have been more than $110 million of expense “in highly favorable terms” and reduced liabilities by $29.8 million during the quarter.
Defense Customers and Light Electric Vehicles Highlight Demand
Stepien pointed to recent contract awards to three Amprius customers using SiCore batteries as indicators of future demand. He cited Kraus Hamdani Aerospace, whose K1000ULE unmanned aircraft is designed for 24-hour flight and a 1,000-mile range; AeroVironment, which won a $117 million U.S. Army contract for P550 UASs; and Teledyne FLIR, which announced a European order for its Black Hornet 4 nano drone.
“Their success boosts our visibility into future purchase orders for SiCore cells,” Stepien said.
The company also announced that its silicon-anode cells were selected by a China-based light electric vehicle customer, which placed a $21 million multi-quarter purchase order for batteries for two- and three-wheeled vehicles. Stepien said winning business in China was notable given the region’s concentration of major battery competitors.
Amprius’ work with the U.S. Defense Innovation Unit also expanded during the quarter. Stepien said a development contract first awarded in July 2025 was increased for a third time and now totals $18.1 million. The latest increase adds delivery of three types of silicon-anode cylindrical cells and four standard-size pouch cells.
Company Raises Revenue Guidance, Reaffirms EBITDA Outlook
Rodriguez said Amprius continues to see “healthy demand indicators,” including growing backlog, higher production volumes at manufacturing partners and increasing urgency from defense-related customers around NDAA-compliant supply.
For 2026, the company now expects:
Revenue of at least $130 million. Adjusted EBITDA of at least $4 million. A net loss of no more than $8 million, or less than $0.06 per share. Capital expenditures below $10 million, expected to be funded by the Defense Innovation Unit contract.
Rodriguez said Amprius still sees a path to its 25% full-year gross margin target, with improvement expected mainly in the second half. He said factors include accelerating U.S. demand, managing the China and Asia Pacific mix, and improving logistics coordination as volumes scale.
Warrant Exchange Aims to Simplify Capital Structure
Amprius also announced an agreement to exchange more than 7 million public warrants held by institutional investors into common stock. Rodriguez said the company had nearly 16.5 million public warrants issued when it went public in 2022, with a strike price of $11.50.
Rodriguez said converting 7.1 million of those warrants into stock would save shareholders “at least $70 million of dilution” that otherwise could have occurred if the warrants were exercised. He also said the transaction could relieve short interest tied to institutional warrant hedging.
The warrant exchange follows other balance sheet actions, including closing the company’s at-the-market offering program and settling the Colorado lease obligation. Rodriguez said the company is looking for opportunities to “simplify the balance sheet and optimize the capital structure.”
Management Discusses Manufacturing, Robotics and Standardization
During the question-and-answer session, Stepien said Amprius is seeing growing interest tied to U.S. defense programs, including drone-related initiatives. Asked about how recent awards to customers could translate into Amprius orders, Rodriguez said batteries typically account for 5% to 15% of the bill of materials for unmanned aerial vehicles, depending on how advanced the platform is.
Stepien also discussed progress with Nanotech, a cylindrical cell provider in Chico, California. He said Nanotech had validated Amprius’ silicon-anode materials in a 21700 cell and achieved performance about 10% better than a comparable 6.6Ah cell, with a 6.8Ah cell capable of handling up to 20 amps.
On robotics, Stepien said the market remains early and did not contribute meaningful first-quarter revenue, but discussions are underway with companies in the U.S. and Asia. He said Amprius’ high energy density is especially relevant in unstructured environments where robots cannot easily recharge.
Stepien said Amprius is also working with roughly 40 battery pack companies in a given quarter, including six to 10 major volume providers. He described them as a “force multiplier” because they help integrate Amprius cells into customized packs for end customers.
Looking ahead, Stepien said the company is focused on higher energy density, sustained power, safety, reliability and meeting manufacturing and country-of-origin requirements. “We remain deeply bullish about the opportunities in front of us,” he said.
About Amprius Technologies (NYSE:AMPX)
Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company's batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.
At the core of Amprius' product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.
The article "Amprius Technologies Q1 Earnings Call Highlights" was originally published by MarketBeat.
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- Amprius Technologies Q1 Earnings Call Highlights
May 9, 2026 · marketbeat.com
Amprius Technologies NYSE: AMPX reported record first-quarter 2026 revenue and raised its full-year sales outlook, citing expanding adoption of its silicon-anode batteries across unmanned aerial systems, light electric vehicles and defense-related applications.
- Amprius Technologies to Simplify Capital Structure
May 8, 2026
By Karen Roman
Amprius Technologies, Inc. (NYSE: AMPX) said it reached deals with several institutional investors to swap its stock purchase warrants for shares of company stock.
The company will issue a number of shares in exchange for 7,128,458 public warrants and the transactions are expected to take place on May 18, 2026, it stated.
“This is an important milestone that we believe improves the technicals of our stock and proactively minimizes dilution as we drive our business forward in the most capital efficient way possible, ” said Ricardo C. Rodriguez, Amprius’ CFO.
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- Amprius Technologies, Inc. Q1 2026 Earnings Call Summary
May 7, 2026
Amprius Technologies, Inc. Q1 2026 Earnings Call Summary - Moby
Strategic Performance Drivers
Achieved record Q1 revenue of $28.5 million, a 153% year-over-year increase, driven by the rapid adoption of SiCore silicon anode batteries across the unmanned aerial systems (UAS) market. Successfully transitioned the product mix to SiCore, which now represents 97% of product revenue, effectively phasing out the legacy SiMaxx platform to focus on higher-performance technology. Secured a landmark $21 million multi-quarter order from a leading Chinese light electric vehicle (LEV) customer, validating competitive performance in a region dominated by established battery giants. Capitalized on record U.S. defense spending through long-term partnerships with major contractors like AeroVironment and Teledyne FLIR, whose recent contract wins provide high visibility into future purchase orders. Expanded the 'Espresso advantage' narrative, emphasizing that high energy density allows customers to double flight times or travel distances without increasing battery weight or volume. Strengthened the U.S. market presence, with North American revenue share increasing significantly as domestic customers prioritize NDAA-compliant, high-performance power sources.
Outlook and Strategic Initiatives
Raised full-year revenue guidance to at least $130 million, reflecting healthy demand indicators, a growing backlog, and increasing production volumes from manufacturing partners. Anticipates a reacceleration of sequential top-line growth in the June quarter, supported by additional capacity coming online from Korean and U.S. manufacturing partners. Maintains 2026 adjusted EBITDA guidance of at least $4 million, assuming margin recovery in the second half as SiMaxx overhead costs dissipate and collections normalize. Focusing on standardization of pouch cells through the Defense Innovation Unit (DIU) contract to reduce costs and simplify logistics for government and defense applications. Targeting expansion into the robotics market, specifically for unstructured environments where high energy density is critical for balancing actuation demands with AI processing intensity.
Operational and Financial Context
Gross margin stepped back to 20% in Q1 due to over $3 million in increased overhead from the SiMaxx product line phase-out and one month of expenses from the Colorado facility. Settled the Colorado facility lease obligation for $20 million, avoiding over $110 million in future expenses and significantly reducing long-term liabilities. Announced a strategic warrant exchange agreement to convert 7.1 million public warrants into common stock, aimed at reducing future dilution and mitigating short interest pressure. CapEx for 2026 is expected to remain below $10 million, primarily funded through the DIU contract, focusing on enhancing prototype line capabilities in Fremont.
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Q&A Highlights
Impact of U.S. defense budget and drone urgency
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Management noted a clear increase in urgency from the U.S. military, with recent defense bills heavily weighted toward unmanned systems. Batteries typically represent 5% to 15% of the bill of materials for these advanced UAV programs, providing a significant tailwind as contracts flow down to suppliers.
Strategic rationale for the warrant exchange transaction
The exchange is estimated to save shareholders at least $70 million in potential dilution that would have occurred if warrants were exercised at lower prices. The move is intended to simplify the capital structure and should relieve short interest, as institutional holders often maintain short positions to hedge warrant volatility.
Progress on U.S.-based manufacturing and NDAA compliance
Amprius has validated its silicon anode technology with Nanotech in California, achieving a 21700 cell that performs approximately 10% better than standard competitors. The company is in active discussions with additional U.S. and allied manufacturing partners for pouch cell production, encouraged by the Department of Defense.
Robotics market opportunity and product fit
While robotics revenue is currently minimal, management expects it to become a meaningful contributor by late 2026 or early 2027. The technology is particularly suited for 'unstructured' environments where robots cannot easily recharge and require high power for lifting combined with high energy for endurance.
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- Amprius Technologies, Inc. (AMPX) Q1 2026 Earnings Call Transcript
May 7, 2026 · seekingalpha.com
Amprius Technologies, Inc. (AMPX) Q1 2026 Earnings Call Transcript
- Amprius Technologies Ups the Voltage on Forward Outlook
May 7, 2026 · marketbeat.com
Amprius Technologies' NASDAQ: AMPX share price pulled back following its Q1 2026 earnings release, presenting a buying opportunity. The release was mixed: GAAP per-share losses were more than expected, but all other details were positive.
- Amprius Technologies to Simplify Capital Structure Through Exchange of Public Warrants for Common Stock
May 7, 2026 · businesswire.com
FREMONT, Calif.--(BUSINESS WIRE)--Amprius Technologies, Inc. ("Amprius" or the "Company") (NYSE: AMPX), a leader in silicon anode lithium-ion batteries, today announced agreements with certain institutional holders of its public warrants (the “Public Warrants”), each of which is exercisable to purchase one share of common stock of the Company, par value $0.0001 per share (“Common Stock”), at an exercise price of $11.50 (the “Exercise Price”) per Public Warrant, to exchange such Public Warrants.
- AMPRIUS TECHNOLOGIES TO SIMPLIFY CAPITAL STRUCTURE THROUGH EXCHANGE OF PUBLIC WARRANTS FOR COMMON STOCK
May 7, 2026
FREMONT, CALIF.--(BUSINESS WIRE)--AMPRIUS TECHNOLOGIES, INC. ("AMPRIUS" OR THE "COMPANY") (NYSE: AMPX), A LEADER IN SILICON ANODE LITHIUM-ION BATTERIES, TODAY ANNOUNCED AGREEMENTS WITH CERTAIN INSTITUTIONAL HOLDERS OF ITS PUBLIC WARRANTS (THE “PUBLIC WARRANTS”), EACH OF WHICH IS EXERCISABLE TO PURCHASE ONE SHARE OF COMMON STOCK OF THE COMPANY, PAR VALUE $0.0001 PER SHARE (“COMMON STOCK”), AT AN EXERCISE PRICE OF $11.50 (THE “EXERCISE PRICE”) PER PUBLIC WARRANT, TO EXCHANGE SUCH PUBLIC WARRANTS.
- Amprius Technologies (AMPX) Reports Q1 Loss, Beats Revenue Estimates
May 6, 2026
Amprius Technologies (AMPX) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to a loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -100.00%. A quarter ago, it was expected that this battery maker would post a loss of $0.04 per share when it actually produced a loss of $0.01, delivering a surprise of +75%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Amprius, which belongs to the Zacks Technology Services industry, posted revenues of $28.54 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 11.17%. This compares to year-ago revenues of $11.28 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Amprius shares have added about 171.2% since the beginning of the year versus the S&P 500's gain of 6%.
What's Next for Amprius?
While Amprius has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Amprius was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.02 on $28.23 million in revenues for the coming quarter and -$0.03 on $126.1 million in revenues for the current fiscal year.
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Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
LiveRamp (RAMP), another stock in the same industry, has yet to report results for the quarter ended March 2026.
This data-services company is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of +63.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
LiveRamp's revenues are expected to be $205.38 million, up 8.8% from the year-ago quarter.
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