August 8, 2024 Amprius Technologies Reports Second Quarter 2024 Business and Financial Results FREMONT, Calif.--(BUSINESS WIRE)-- Amprius Technologies, Inc. ("Amprius"), (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced its business and financial results for the second quarter ended June 30, 2024. Amprius posted a letter to shareholders on its Investor Relations website, ir.amprius.com, that details the company's results and provides an update o ...

Financial Data and Key Metrics - Total revenue for Q2 2024 was $3.3 million, all from product revenue, representing a 43% sequential increase and a 105% year-over-year increase [18] - Gross margin was negative 195% for Q2, compared to negative 109% in Q1 2024 and negative 186% in the prior year period, impacted by preconstruction costs for the Colorado facility [20] - GAAP net loss for Q2 was $12.5 million, or $0.13 per share, with 97 million weighted average shares outstanding [21] - The company exited Q2 with $46.4 million in net cash and no debt, recording a net increase of $7.4 million in cash compared to Q1 [24] Business Line Data and Key Metrics - The company shipped to 56 customers in Q2, including 24 new customers, with three customers representing over 10% of revenue [19] - Amprius launched the SiCore battery earlier in 2024, which has attracted new customers and enabled exploration of new market segments such as aviation and electrical transportation [7] - The company delivered the SA11 and SA17 batteries in Q2, targeting applications in aviation, drones, micro-mobility, and industrial equipment [7][8] - Amprius has 14 SKUs in its product portfolio, covering a wide range of performance metrics including energy, power, cycle life, and charging time [8] Market Data and Key Metrics - Shipments within the United States increased by 41% year-over-year, while shipments to the rest of the world grew by 271% year-over-year [10] - 50% of total revenue in Q2 came from outside the United States, reflecting the company's global expansion strategy [10] - The company secured $7.6 million in new sales orders during Q2, representing a 32% increase in net backlog compared to Q1 [11] Company Strategy and Industry Competition - Amprius is focused on innovating next-generation batteries, growing its customer base, and scaling manufacturing capacities [27] - The company is developing a 100Ah EV form factor battery cell for the USABC, expected to meet or exceed 2023 USABC low-cost fast-charging EV cell characteristics [9] - Amprius is expanding its manufacturing capacity, with plans to scale Fremont production to 2 megawatt hours by the end of 2024 and finalize the design for the Colorado facility [14][25] - The company has partnered with leading pack designers and manufacturers to broaden its sales reach and offer next-generation batteries to a wider customer base [11] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strong demand for SiCore batteries and the company's ability to meet customer requirements in technical performance and application economics [10] - The company expects to finalize the design and permitting for the Colorado facility by the end of 2024, with the first line focused on SiCore manufacturing [25] - Amprius is optimistic about the second half of 2024, citing increasing sales outlook, growing customer engagement, and expanded production capacity [16] Other Important Information - The company completed a cash tender offer in Q2, reducing the number of warrants outstanding and raising net proceeds of $14.2 million [22][23] - Amprius was awarded a $1.9 million contract from the U.S. Army's X Tile Prime program to develop a large form factor 500 watt-hour per kilo SiMaxx energy density cell for defense applications [15] - The company plans to attend several industry and financial conferences in the coming weeks, including the UBS Energy Transition Call Series and the Oppenheimer Sustainability Summit [31] Q&A Session Summary Question: Customer design cycles and volume expectations for SiCore [32] - Answer: Customers typically require 9-12 months for product modification and 9-18 months for production qualification, with some customers already in the second stage of modification [33] Question: Ramp-up challenges in Fremont [34] - Answer: The company has qualified the central thermal machine for silicon nanowire growth but is optimizing the manufacturing process to reach nameplate capacity by the end of 2024 [35] Question: New bookings and timeline for $7.6 million in orders [37] - Answer: The bookings are for both SiMaxx and SiCore, with most expected to be fulfilled in the next few quarters, except for large orders from AALTO/Airbus extending through 2025 [38][39] Question: Factors impacting the Colorado facility [40] - Answer: The company is cautious due to industry dynamics, including supply, demand, government policies, and incentives, and is finalizing the design while monitoring market conditions [41] Question: Customer count and order patterns [43] - Answer: The decrease in customer count does not reflect fewer customers, as some are evaluating samples and may return for additional orders [44] Question: Importance of U.S.-based SiCore manufacturing [45] - Answer: Most customers prioritize quality and cost over manufacturing location, but some applications require U.S.-based production, prompting the development of the Colorado facility [46] Question: Revenue mix from outside the U.S. [48] - Answer: The company is expanding globally, with 50% of Q2 revenue coming from outside the U.S., reflecting a strategic shift to include Asia and other regions [49] Question: ATM usage and Colorado facility cost estimates [50][52] - Answer: The company has not used the ATM in Q3 and expects to finalize cost estimates for the Colorado facility by year-end, pending market dynamics [51][53] Question: Risks from potential policy changes [55] - Answer: The company is monitoring market and political dynamics but remains focused on accelerating customer modification processes to grow revenue [56] Question: Engagement with EV OEMs [57] - Answer: The company is engaged with EV OEMs but does not yet have a commercial product for the EV market, focusing on technical exchanges [58] Question: Commitment to the Colorado facility [60] - Answer: The company is evaluating the need for the Colorado facility based on market dynamics and manufacturing capacity, with a decision expected by year-end [61][63]

Amprius Technologies (AMPX) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -18.18%. A quarter ago, it was expected that this battery maker would post a loss of $0.11 per share when it actually produced a loss of $0.11, delivering no surprise.Over the last four quarters, the company has surpa ...

Exhibit 99.1 ar IS LETTER TO SHAREHOLDERS Q2 2024 Letter to Shareholders August 2024 Fellow Shareholders, the second quarter was a strong finish to the first half of the year for Amprius. We successfully delivered new high-performance batteries to the market, expanded our manufacturing capabilities, and engaged with new customers and market segments. With that, we are pleased to share our financial results and operational highlights with you below. Company Overview Amprius develops, manufactures, and market ...

da-kuk Investment thesis Amprius Technologies, Inc. (NYSE:AMPX) has felt the full wrath of the market if the 90% plus selloff over the past year is anything to go by. The high-power and high-density ion battery manufacturer has been under pressure, raising serious questions about whether the stock is oversold. The selloff has come despite the company doubling the number of its customers to 82. A plunge like this usually means that either the company is fundamentally flawed or it is oversold. As such, we are ...

Amprius Technologies, Inc. (NYSE:AMPX) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Kang Sun - Chief Executive Officer Sandra Wallach - Chief Financial Officer Conference Call Participants Colin Rusch - Oppenheimer & Company Donovan Schafer - Northland Capital Markets Mark Shooter - William Blair Chris Souther - B. Riley Securities Jeff Grampp - Alliance Global Partners Amit Dayal - H.C. Wainwright Operator Good afternoon. Welcome to Amprius Technologies' First Quarter 2024 E ...

Amprius Technologies (AMPX) came out with a quarterly loss of $0.11 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this battery maker would post a loss of $0.12 per share when it actually produced a loss of $0.11, delivering a surprise of 8.33%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Amprius, which belongs to the Za ...

Table of Contents _______________________ _______________________ _______________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-04321 AMPRIUS TECHNOLOGIES, INC. (Exac ...

le ar LETTER TO SHAREHOLDERS Q1 2024 Exhibit 99.1 Letter to Shareholders May 2024 Fellow Shareholders, We hit the ground running in the first quarter at Amprius. We doubled the number of customers who received shipments in Q1 compared to Q4 of last year, a significant accomplishment and a testament to the marketability of our batteries. We are delivering industry-leading performance with our battery technology while also taking critical steps to scale production to meet the growing demand for our solutions. ...

Wall Street expects flat earnings compared to the year-ago quarter on higher revenues when Amprius Technologies (AMPX) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be release ...