Financial Data and Key Metrics Changes - The company reported total revenue of $2.3 million for Q1 2024, representing a 397% increase year-over-year and a 147% sequential increase [18] - Gross margin improved to negative 190% from negative 518% in the prior year and negative 98% in Q4 2023 [19] - Operating expenses were $5.9 million, a 6% decrease year-over-year and flat quarter-over-quarter [20] - The GAAP net loss for the quarter was $9.9 million, or a net loss of $0.11 per share [20] Business Line Data and Key Metrics Changes - The company shipped to 82 customers in Q1 2024, doubling the number from Q4 2023, with 52 of these being new customers [11] - The cycle product family was introduced, offering up to 400 watt-hour per kilo and 1,200 cycles at full depth of discharge, which complements the existing SiMaxx platform [9][10] - 76 customers received cycle products, indicating strong demand for this new offering [11] Market Data and Key Metrics Changes - The company has expanded its customer base across the United States, Europe, and Asia, with a primary focus on the aviation industry [31] - The introduction of the cycle platform is expected to accelerate revenue growth without additional capital investment [10] Company Strategy and Development Direction - The company aims to scale manufacturing capacity through both in-house production and partnerships with toll manufacturers [26] - Plans for a gigawatt-scale facility in Brighton, Colorado are underway, with 30% of construction completed [13] - The company is focusing on commercializing its 500 watt-hour per kilo SiMaxx cells later in 2024 [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting growing customer demand and expanding production capacity [12][17] - The company anticipates significant inquiries from customers as it ramps up production capabilities [38] - The outlook for 2024 remains strong, with expectations for continued customer engagement and potential larger orders [60] Other Important Information - The company has received recognition, including the Inaugural CleanTech Battery Company of the Year award [16] - A shelf registration on Form S-3 was filed to establish a new ATM facility for $100 million [24] Q&A Session Summary Question: What is the diversity of new customers geographically and by application? - The company has a broad customer base primarily in the United States and Europe, with some customers in Asia, mainly in the aviation industry [31] Question: How do you anticipate scaling sales with contract manufacturers? - The company is strengthening its sales team and has resolved manufacturing capacity issues for the SiCore product [33] Question: Can you confirm the number of repeat orders in the quarter? - Yes, there were 30 repeat orders in the quarter [37] Question: What is the interest level in SiCore versus SiMaxx? - There is significant interest in both products, with many customers engaging with both [56] Question: When can we expect larger orders from customers? - The company expects some customers to place larger orders later in Q2 as they complete their qualification processes [62] Question: What is the timeline for finalizing construction costs for the Colorado facility? - The company expects to provide guidance on construction costs by the end of Q3 2024 [58]

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 ...

KULR ONE Space and KULR ONE Guardian Platforms to Integrate Amprius Silicon Anode SA10 Cells SAN DIEGO, April 30, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a global leader in safe and high performance energy storage solutions, today announced a leap forward in battery technology tailored for defense and space applications as KULR Technology Group (NYSE:KULR) and Amprius Technologies (NYSE:AMPX) officially announce their strategic partnership. This collaborat ...

Table of Contents Index to Consolidated Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-K __________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission ...

Financial Data and Key Metrics - Q4 2023 revenue was $3.9 million, a $3.1 million increase compared to $0.8 million in Q4 2022, and up $1.1 million sequentially [20] - Full-year 2023 revenue was $9.1 million, representing a growth rate of over 100% from 2022 [21] - Gross margin for 2023 was negative 162%, compared to negative 128% in 2022, with significant variation due to product and services revenue mix fluctuations [22] - Operating expenses for 2023 were $24 million, a 94% increase from the prior year, driven by public company expenses, transaction-related costs, and staffing increases in R&D and sales [22] - GAAP net loss for 2023 was $36.8 million, or $0.43 per share, compared to a net loss of $0.24 per share in 2022 [23] - Cash balance at the end of 2023 was $45.8 million with no debt [24] Business Line Data and Key Metrics - Product revenue increased by $0.3 million in Q4 2023, driven by shipments to 41 customers, a record for the company [20] - Development services revenue increased by $3 million in Q4 2023, reflecting the completion of the U.S. Army Manufacturing Technology Program [21] - SiMaxx and SiCore battery families have attracted significant market attention and customer demand, with SiCore offering form factor flexibility for pouch and cylindrical cells [11][33] - The company shipped batteries to 41 customers in Q4 2023, including 16 new customers, with significant orders from eVTOL and HAPS manufacturers [13][14] Market Data and Key Metrics - The company has a strong patent portfolio with over 80 issued patents and pending applications, positioning it as a leader in silicon anode battery technology [5] - Amprius batteries deliver 450 watt-hour per kilo specific energy density and 1,150 watt-hour per liter volumetric density, with a new 500 watt-hour per kilo platform ready for commercial shipments [5][9] - The company has secured long-term battery supply agreements with key customers, including AeroVironment and Tenergy [13] - The company is targeting large markets, including a $1.25 billion conformal wearable battery market by 2030, a $33 billion aviation battery market by 2030, and a $591 billion EV battery market by 2033 [29] Company Strategy and Industry Competition - The company's strategy focuses on advancing silicon anode battery technology, expanding production capacity, and meeting significant customer demand [8][28] - Amprius is building a large-scale manufacturing facility in Brighton, Colorado, expected to be operational in 2025, and has increased manufacturing capacity in Fremont, California, by 10 times [15][16] - The company is pursuing additional funding through equity issuances, grants, loans, and incentives to support its growth strategy [26] - Amprius has been recognized as one of Fast Company's 2024 most innovative companies and won awards for its SiMaxx 400 watt-hour per kilo cell [18] Management Commentary on Operating Environment and Future Outlook - Management highlighted the unmatched performance of Amprius' silicon anode batteries, with significant customer demand and a robust pipeline [27] - The company expects to begin construction of its gigawatt-scale facility in Brighton, Colorado, in 2024 and optimize SiMaxx mass production in Fremont [28] - Management is confident in the company's growth strategy, with opportunities in aviation, EVs, and wearable markets [29] - The company is pursuing the 45x tax credit under the IRA, which could provide significant financial benefits [42] Other Important Information - The company completed its first volume shipments of Safe Cell for the U.S. Army in December 2023, marking a milestone in its manufacturing scale-up initiative [15] - Amprius received AS9100:2016 certification for its Fremont production facility, supporting its supply to the electrical aviation industry [17] - The company has raised $6.5 million through the sale of shares under its ATM facility as of March 18, 2024 [25] Q&A Session Summary Question: Customer feedback and opportunities for SiCore - SiCore has received strong feedback from customers, with form factor flexibility enabling supply of both pouch and cylindrical cells [32][33] Question: Ramp-up challenges and Colorado facility progress - The Fremont facility is expected to reach 2 megawatt-hour capacity by the end of 2024, while the Colorado facility is progressing with rezoning and permitting [35] Question: Revenue breakdown between SiMaxx and SiCore - The company has not disclosed separate revenue figures for SiMaxx and SiCore, but SiCore has potential for larger revenue due to toll manufacturing capacity [38][40] Question: Pricing and application focus for SiCore - SiCore commands a premium due to its high energy density and long cycle life, with applications in aviation and other electric mobility segments [45][47] Question: Demand and ramp for SiCore - Manufacturing capacity for SiCore exceeds 100 megawatts, with commercial revenue expected later in 2024 as customers complete qualification [50] Question: Fremont facility updates and cathode line - The cathode line in Fremont is expected to be operational in Q3 2024, with no impact on current production [52] Question: 500 watt-hour per kilo product timing and R&D goals - The 500 watt-hour per kilo product is expected to ship to customers in 2024, with R&D focused on energy density, power, and safety features [56][58] Question: Fremont capacity and revenue expectations for 2024 - Revenue is expected to ramp up in 2024, driven by Fremont capacity and SiCore product availability [65] Question: Colorado facility long lead time items and costs - Long lead time items for the Colorado facility, such as dehumidifiers and transformers, have been procured, with design and permitting ongoing [68] Question: Gross margin and operating cost expectations for 2024 - Gross margins may remain under pressure in 2024 due to Colorado facility costs, while operating expenses are expected to remain stable [71] Question: Military vs commercial revenue mix - The company does not directly track military vs commercial revenue, as it sells through OEMs, but has strong relationships with key defense contractors [73]

Exhibit 99.1 le ar LETTER TO SHAREHOLDERS Q4 and Full Year 2023 | --- | --- | --- | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | Letter to Shareholders March 2024 | | | | | | F ...

Core Insights - Amprius Technologies, Inc. (AMPX) is anticipated to perform well in the upcoming earnings report due to favorable earnings estimate revisions [1][2] - Analysts have raised their earnings estimates for AMPX, indicating positive trends, with the Most Accurate Estimate for the current quarter at a loss of 10 cents per share, compared to the broader Zacks Consensus Estimate of a loss of 12 cents per share [1] - The Zacks Earnings ESP for AMPX stands at +13.04%, suggesting a strong potential for an earnings beat [1] Importance of Earnings ESP - A positive Zacks Earnings ESP has historically led to positive surprises and outperformance in the market, with a 10-year backtest showing nearly 70% of stocks with a positive Earnings ESP and a Zacks Rank 3 or better achieving positive surprises [2] - Stocks with a positive Earnings ESP have averaged over 28% in annual returns, making AMPX a stock to consider ahead of earnings due to its Zacks Rank 3 and positive ESP [2] - Recent earnings estimate revisions for AMPX indicate a favorable outlook, suggesting a potential earnings beat in the upcoming report [2]