AMPX Filings — Amprius Technologies, Inc. - FilingSpy
AMPX
Amprius Technologies, Inc.
A maker of high-energy lithium-ion batteries with silicon anodes instead of the usual graphite, Amprius builds power packs for drones, high-altitude aircraft, and electric aviation — its SiCore and SiMaxx platforms have been tested by hundreds of customers including Airbus and the U.S. Army. It grew out of Stanford research, founded in 2008 by professor Yi Cui, and its name blends "amp" (electric current) with "prius," the Latin word for "first" or "go before."
Amprius posts a 27.3% gross margin and $34.0M in quarterly revenue, its highest yet, as SiCore battery sales more than double year over year.
Amprius delivered its strongest quarter yet. rose 126% to $34.0 million and reached 27.3%, driven by a more than doubling of SiCore battery sales. The company is now consistently profitable at the gross level, but its cash balance reflects the lingering cost of abandoning its factory plans.
Key takeaways
rose 126% to $34.0 million, driven by a $19.0 million increase in SiCore battery sales to new and existing customers.
reached $9.3 million, a swing from a $3.0 million loss a year ago, as expanded by 18.4 percentage points to 27.3% on higher SiCore volume and product mix.
Operating loss narrowed to $4.3 million from $6.8 million a year ago, as the increase absorbed a 68% rise in operating expenses tied to higher headcount and professional fees.
Section summaries
Management's Discussion and Analysis
Revenue more than doubled to $62.6M in H1 2026 driven by SiCore battery sales, while net loss narrowed 48% to $8.2M.
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surged 137% to $62.6M in H1 2026, driven by a $36.8M increase in SiCore battery sales to new and existing customers.
swung from a $1.0M loss to a $15.0M gain, with improving to 24% on higher SiCore volume and product mix.
Operating expenses rose 68% to $26.0M, with R&D up 90% on higher headcount and SG&A up 60% on personnel and professional fees.
Net cash used in operations was $2.9 million, an improvement from $4.3 million a year ago, after excluding the $20.0 million one-time Brighton lease termination payment made in the prior quarter.
Cash and equivalents rose 19.5% sequentially to $74.5 million, supported by $19.5 million in net proceeds from at-the-market stock sales, which management expects will fund requirements for at least twelve months.
What changed
The $20.0 million Brighton lease termination payment flagged in Q1 2026 was a one-time event; operating cash outflow returned to $2.9 million this quarter, down from $37.3 million in the prior quarter.
growth accelerated, rising 19.3% sequentially to $34.0 million, sustaining a level well above the $25 million threshold and showing no pullback after prior peaks.
continued to expand, reaching 27.3% from 20.1% in the prior quarter, as the SiCore-driven product mix shift toward higher-margin volumes persisted.
The company has not provided an alternative domestic manufacturing plan after terminating the Brighton, Colorado facility lease, leaving its long-term production strategy unresolved.
The two material weaknesses in internal control over financial reporting remain outstanding, with no remediation progress disclosed.
What to watch
Whether quarterly can sustain a level above $30 million and whether the SiCore product line can continue driving sequential growth without the $33.0 million in Ukraine-tied shipments disclosed for FY 2025.
Whether the company provides an alternative domestic manufacturing plan after terminating the Brighton, Colorado facility lease.
The pace of operating cash outflow against the $74.5 million cash balance, now that the one-time Brighton lease termination payment has been made.
Progress on remediating the two outstanding material weaknesses in internal control over financial reporting.
Net cash used in operations widened to $40.1M, largely due to a $20.0M one-time payment to terminate the Brighton, Colorado facility lease.
Cash and equivalents stood at $74.5M as of June 30, 2026, which management expects will fund requirements for at least the next twelve months.
From time to time, we may become involved in litigation or other legal proceedings. We are not currently a party to any litigation or legal proceedings that are likely to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact…
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From time to time, we may become involved in litigation or other legal proceedings. We are not currently a party to any litigation or legal proceedings that are likely to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.
In addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the factors discussed in Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The risks discussed in our An…
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In addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the factors discussed in Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The risks discussed in our Annual Report on Form 10-K could materially affect our business, financial condition and future results. The risks described in our Annual Report on Form 10-K are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be insignificant also may materially and adversely affect our business, financial condition or operating results in the future.