Core Viewpoint - Amprius Technologies reported a quarterly loss of $0.10 per share, slightly better than the Zacks Consensus Estimate of a loss of $0.11, indicating a 9.09% earnings surprise [1] - The company achieved revenues of $7.86 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.01% and showing significant growth from $2.8 million year-over-year [2] Financial Performance - Over the last four quarters, Amprius has exceeded consensus EPS estimates two times and topped revenue estimates four times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.13 on revenues of $5.26 million, and for the current fiscal year, it is -$0.51 on revenues of $16.3 million [7] Stock Performance and Outlook - Amprius shares have declined approximately 76.2% since the beginning of the year, contrasting with the S&P 500's gain of 24.3% [3] - The estimate revisions trend for Amprius is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The Technology Services industry, to which Amprius belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a favorable environment for companies within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

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 ...

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 ...