Amprius Technologies TodayAMPXAmprius Technologies$3.56 -0.28 (-7.29%) 52-Week Range$0.61▼$5.26Price Target$8.17Add to WatchlistNumerous indications, including Amprius Technologies’ NYSE: AMPX results, ramping capacity, growing pipeline, analysts' sentiment, and price action, suggest this stock could rise by triple digits in 2025. Amprius Technologies is a next-gen lithium-ion battery manufacturer with an industry-leading silicon-anode architecture that is gaining traction. Traction is seen in the growing ...

Financial Data and Key Metrics - The company reported $7.9 million in total revenue for Q3 2024, more than doubling the revenue from Q2 2024 and nearly tripling the revenue from Q3 2023 [16] - Product revenue accounted for $6.1 million, an 81% sequential increase and a 176% year-over-year increase [26] - Development services and grant revenue totaled $1.8 million, up from none in Q2 and $1.2 million year-over-year [27] - Gross margin improved to negative 65% in Q3 2024, compared to negative 195% in Q2 2024 and negative 152% in Q3 2023 [28] - GAAP net loss for Q3 2024 was $10.9 million, or $0.10 per share, compared to a net loss of $0.13 per share in Q2 2024 and $0.10 per share in Q3 2023 [29] Business Line Data and Key Metrics - The company shipped to 94 customers in Q3 2024, including 53 new customers, bringing the year-to-date customer count to over 175 [16] - The SiCore product line was a primary driver of growth, with $20 million in contracts signed for light electric vehicle applications [17][18] - The company delivered high-energy density 360 Wh/kg EV battery cells to the USABC, achieving 1,200 Wh/kg power density and a 15-minute charge to 90% capacity [14] - The company now offers 14 different SKUs, with energy densities ranging from 350 Wh/kg to 450 Wh/kg, covering a significant portion of customer applications [12] Market Data and Key Metrics - The global drone market is projected to grow from $18 billion in 2023 to $213 billion by 2032, while the electric aircraft and eVTOL battery market could reach $50 billion by 2030 [9][10] - The light electric vehicle market is expected to grow at a CAGR of 9.74% from 2023 to reach $206 billion by 2032 [10] - The company has expanded its market participation in the light electric vehicle segment, signing $20 million in customer contracts and two LOIs with Fortune 500 industrial leaders [11] Company Strategy and Industry Competition - The company's strategy focuses on innovating next-generation batteries, growing the customer base, and scaling manufacturing capabilities [36] - Amprius has secured over 500 MWh of additional manufacturing capacity and launched two dedicated production lines for its batteries, with a total capacity of 800 MWh for pouch cells and over 1 GWh for cylindrical cells annually [21][22] - The company is exploring additional manufacturing partners in Asia and Europe and has finalized the design for its Colorado facility [37] - Amprius' batteries are recognized as best-in-class for energy, power, cycle life, charging time, temperature performance, and safety, validated by increased customer purchasing volume [12][15] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about the road ahead, citing technical leadership, strong battery performance, a growing customer base, and the capacity to support large volume orders [23] - The company expects to recognize $20 million in revenue from light electric vehicle contracts by mid-2025 [18][45] - Management believes the company is set up for sustainable growth, with a clear path to operational cash flow breakeven driven by the SiCore product line [42] Other Important Information - The company completed production line specifications and construction design drawings for its Colorado facility and remains on track from a regulatory standpoint [22] - Amprius exited Q3 2024 with $35 million in net cash and no debt, using $11.4 million in cash during the quarter, primarily for operating cash flow and facility build-out [31] - The company expects to spend an additional $1 million in Q4 2024 to complete the 2-megawatt production line in Fremont [32] Q&A Session Summary Question: Customer List and Potential for Large Orders - The company has concluded two significant customer contracts totaling $20 million and is in discussions with three other high-volume potential customers [40] Question: Path to Operational Cash Flow Breakeven - The SiCore product line is profitable from day one, and the company expects near-term revenue growth to come from SiCore, driving operational profitability [42] Question: Organizational Capacity and OpEx Investments - The company has made key hires in sales, business development, and R&D to support growth and drive faster cycles of learning [43] Question: Revenue Recognition Timeline for $20 Million Contracts - The company plans to recognize the $20 million in revenue by May 2025, with shipments already underway [45] Question: Customer Strategy and Gross Margin Targets - The company aims to focus on large customers with substantial volume orders, though no specific gross margin targets have been provided [46][47] Question: Potential Growth for $20 Million Contracts - The $20 million contracts are expected to satisfy customer needs until mid-2025, with potential for additional orders as demand grows [49] Question: Milestones for LOI in Electric Vehicle Space - The company is working on perfecting cell design and plans to deliver the first batch of samples to the customer, with factory inspections delayed to early 2025 [50][51] Question: Drivers of Increased Customer Receptivity - The primary drivers are the company's battery performance and the availability of manufacturing capacity and capability [54][55] Question: Customer Qualification Timelines - Qualification timelines vary by application, with the $20 million contract benefiting from a shorter certification process [58] Question: Impact of Colorado Facility Spending on Gross Margin - The $2.4 million spent on the Colorado facility in Q3 2024 is expected to ramp down, with minimal impact on Q4 gross margin [61][62] Question: Fremont Facility Capacity and CapEx - The company expects to enter 2025 with up to 2 megawatts of capacity at its Fremont facility, with an additional $1 million in CapEx planned for Q4 2024 [66][67]

Amprius Technologies (AMPX) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.09%. 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 $0.13, delivering a surprise of -18.18%.Over the last four quarters, the company h ...

Manufacturing Capacity and Expansion - The company anticipates expanding its SiMaxx battery manufacturing capacity to 2 MWh by early 2025, which is approximately 10 times its production capacity in 2023[93]. - Amprius expects capital equipment expenditures between $75 million and $100 million to achieve up to 500 MWh per year of manufacturing capacity in its Brighton, Colorado facility[98]. - The company plans to construct a new GWh-scale manufacturing facility in Brighton, Colorado, to meet battery demand[129]. - Amprius is focusing on reducing manufacturing costs of SiMaxx batteries on a $/kWh basis to accelerate demand and expand its customer base[101]. - The company is developing larger form factor batteries for broader electrified transportation applications, currently producing batteries up to approximately 15Ah for small-sized aircraft[105]. - The company has established a network of toll manufacturing partnerships to meet increased demand for SiCore batteries, currently leveraging existing production lines[99][100]. - The company expects to expand production capacity through a Copy Exact methodology, but may reduce initial capacity if cash is less than expected and financing is unavailable[133]. Financial Performance - Revenue increased by $5.1 million, or 181%, to $7.9 million during the three months ended September 30, 2024, primarily due to a $3.9 million increase in battery sales[117]. - Revenue increased by $8.4 million, or 165%, to $13.5 million during the nine months ended September 30, 2024, primarily due to a $7.8 million increase in battery sales[118]. - Cost of revenue increased by $5.9 million, or 84%, to $13.0 million during the three months ended September 30, 2024, and by $13.7 million, or 86%, to $29.6 million during the nine months[119]. - Research and development expenses increased by $1.0 million, or 123%, to $1.8 million during the three months ended September 30, 2024, and by $2.7 million, or 112%, to $5.1 million during the nine months[120]. - Selling, general and administrative expenses increased by $0.3 million, or 7%, to $4.3 million during the three months ended September 30, 2024, but decreased by $2.4 million, or 15%, to $13.4 million during the nine months[121]. - Net loss was $10.9 million for the three months ended September 30, 2024, and $33.3 million for the nine months[130]. Cash Flow and Financing - As of September 30, 2024, the company had cash and cash equivalents of $35.0 million[124]. - Net cash used in operating activities increased to $27.3 million during the nine months ended September 30, 2024, compared to $20.8 million during the same period last year, primarily due to increased personnel-related costs[136]. - Net cash used in investing activities decreased to $6.8 million during the nine months ended September 30, 2024, from $11.8 million in the prior year, mainly due to the timing of purchases of production equipment[138]. - Net cash provided by financing activities increased to $24.6 million during the nine months ended September 30, 2024, from $16.3 million in the same period last year, primarily from the issuance of common stock[140]. - The company may need to seek additional equity or debt financing if resources are insufficient to meet cash requirements, which could adversely affect business operations[132]. - The primary source of cash from operations is revenue from battery sales and customization design services, with significant cash uses including personnel costs and procurement of materials[135]. Market Position and Product Development - Amprius Technologies has shipped over 400,000 batteries since inception through September 30, 2024, serving over 175 customers[91]. - The company is engaged in ongoing development activities to improve battery life and energy density, exploring different cathode materials[103][104]. - The company is the only known manufacturer using a 100% silicon anode free of inactive additives, positioning itself competitively in the battery market[102]. - Amprius is monitoring broader industry dynamics, including changes in demand, supply, battery cost structure, and government incentives, which may influence its manufacturing decisions[96]. Compliance and Reporting - The company qualifies as an emerging growth company and a smaller reporting company, allowing it to take advantage of reduced reporting requirements[142][143]. - There have been no changes to critical accounting estimates during the nine months ended September 30, 2024[145].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 8-K _________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 29, 2024 _________________________ Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.0001 per share AMPX The New York ...

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Company Overview - Amprius Technologies, Inc. is a leader in next-generation lithium-ion batteries, specifically known for its Silicon Anode Platform [1] - The company manufactures high-energy and high-power lithium-ion batteries, with SiMaxx™ batteries delivering up to 450 Wh/kg and 1,150 Wh/L, and third-party validation showing 500 Wh/kg and 1,300 Wh/L [4] - Amprius expanded its product portfolio in 2024 to include the SiCore™ platform, enhancing its ability to serve additional customer applications [4] - The company has secured over 500 MW/h of contract manufacturing and has a lease agreement for a gigawatt-hour-scale facility in Brighton, Colorado [4] Event Participation - Amprius is confirmed to present at the 2024 Annual Gateway Conference on September 4th at 1:00 p.m. Pacific time [1] - The presentation will be webcast live, and the CEO and CFO will be available for one-on-one meetings throughout the conference [1] Industry Context - The Gateway Conference connects leading growth-stage companies with prospective investors, analysts, and partners, celebrating 25 years of fostering impactful industry connections [2] - The event features a diverse array of companies across various sectors, including technology, cleantech, consumer, industrials, financial services, and healthcare [2]

Battery Production and Capacity - Company has shipped over 150,000 batteries enabling mission-critical applications, validated by over 100 customers including AALTO Airbus and BAE Systems[91] - SiMaxx battery production capacity expected to reach 2 MWh by end of 2024, a 10x increase from 2023 levels[92] - SiCore battery production capacity exceeds 500 MWh through toll manufacturing partnerships, with plans for a GWh-scale facility in Brighton, Colorado[93] - Expansion plans include scaling manufacturing capacity in Fremont, California, and building a GWh-scale facility in Brighton, Colorado[97] - The company is expanding its manufacturing capacity from kWh-scale to MWh-scale in Fremont, California, while designing a new GWh-scale facility in Brighton, Colorado[131] Financial Performance and Capital Expenditures - Company raised $11.2 million in net proceeds from stock sales under the At Market Issuance Sales Agreement as of June 30, 2024[95] - Capital equipment expenditures estimated at $75-100 million to achieve 500 MWh/year capacity in Brighton, Colorado facility[99] - Revenue increased by $1.7 million (105%) to $3.3 million in Q2 2024, driven by a $2.0 million increase in battery sales, including $1.8 million from SiCore batteries[120] - Cost of revenue increased by $5.2 million (112%) to $9.9 million in Q2 2024, primarily due to nonrecurring fees for the GWh manufacturing facility and higher material and personnel costs[121] - Research and development expenses increased by $0.9 million (115%) to $1.7 million in Q2 2024, driven by higher personnel-related costs and stock-based compensation[122] - Selling, general, and administrative expenses decreased by $1.5 million (25%) to $4.7 million in Q2 2024, due to a $2.5 million reduction in non-recurring professional fees and insurance costs[123] - Net loss increased by $3.1 million (32%) to $12.5 million in Q2 2024, compared to the same period last year[116] - The company expects capital expenditures of $75.0 million to $100.0 million to achieve up to 500 MWh/year manufacturing capacity, excluding costs for the new GWh-scale facility in Brighton, Colorado[131] - Net loss of $12.5 million for the three months ended June 30, 2024, and $22.4 million for the six months ended June 30, 2024[132] - Net cash used in operating activities increased to $17.7 million for the six months ended June 30, 2024, up from $12.1 million in the same period last year[135] - Net cash used in investing activities increased to $5.5 million for the six months ended June 30, 2024, compared to $2.9 million in the same period last year[136] - Net cash provided by financing activities increased to $25.1 million for the six months ended June 30, 2024, up from $10.3 million in the same period last year[137] - Total cash flow changes: operating activities increased by $5.663 million, investing activities increased by $2.633 million, and financing activities increased by $14.868 million[138] - Company may seek additional equity or debt financing if current resources are insufficient to meet cash requirements[134] - Expansion plans may be reduced or delayed if financing is unavailable, potentially impacting production capacity and business operations[134] Research and Development - Research and development focuses on improving battery life, energy density, and larger cell form factors for broader electrified transportation applications[104][105] - Company faces challenges in reducing manufacturing costs due to higher capital equipment costs for silicon anode production compared to graphite anodes[102] Market and Competitive Landscape - Company is the only known manufacturer using a 100% silicon anode without inactive additives, targeting aviation applications[103] - Company operates in a highly competitive market with established manufacturers and new entrants developing alternative battery technologies[103] Liquidity and Financing - Cash and cash equivalents stood at $46.4 million as of June 30, 2024, with liquidity expected to cover working capital and capital expenditure needs for at least twelve months[127] - The company raised $10.9 million in net proceeds from the At Market Financing program during the first six months of 2024[128] - A total of 12.6 million public warrants and 500,000 private warrants were exercised for cash, generating $13.6 million in net proceeds[129] Leases and Future Commitments - Future minimum lease payable of $70.7 million over a weighted-average lease term of 13.9 years, with $2.5 million payable in the next twelve months[133] Related Party Transactions - Company continues to purchase raw materials and development materials from previous related parties, including finished batteries for the SiCore product platform[141] Regulatory Status - Company qualifies as an emerging growth company and smaller reporting company, allowing for reduced reporting requirements and extended transition periods for new accounting standards[142][143]

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 ...