Amprius Technologies (NYSE: AMPX) reported record first-quarter revenue of $28.5 million and raised its full-year sales outlook, citing strong adoption of its silicon-anode batteries in defense and electric mobility.
“Our second generation SiCore silicon anode batteries are gaining broad adoption across unmanned aerial system customers, and we are pleased to see the momentum we have built in Europe is now taking hold in the United States,” Chief Executive Officer Tom Stepien said.
The first-quarter revenue marked a 153 percent increase from the same period a year prior. The company reported a net loss of $5.0 million, or $0.04 per share, on a GAAP basis. Amprius lifted its 2026 revenue forecast to at least $130 million, an increase from its prior baseline of $125 million, while reaffirming its target for a full-year adjusted EBITDA of at least $4 million.
The results underscore a significant operational shift, with the company’s newer SiCore batteries representing 97 percent of product revenue in the quarter. This transition away from the legacy SiMaxx platform contributed to a temporary drag on gross margins, which stood at 20 percent. Management noted that excluding costs tied to the SiMaxx wind-down, gross margin would have been 22 percent.
Demand was highlighted by a new $21 million multi-quarter purchase order from a light electric vehicle customer in China. The company also pointed to growing traction in the U.S. defense sector, with its development contract with the Defense Innovation Unit increasing to a total of $18.1 million. Amprius cells are used by customers like AeroVironment, which recently won a $117 million U.S. Army contract.
Financially, Amprius ended the quarter with $62.4 million in cash and no debt. The company also moved to simplify its capital structure through an agreement to exchange over 7.1 million public warrants into common stock, a move Chief Financial Officer Ricardo Rodriguez said would save shareholders “at least $70 million of dilution.”
The guidance raise suggests management is confident that demand for its high-energy-density batteries will continue to accelerate, particularly in the defense and aviation sectors. Investors will watch for execution on the new China LEV contract and margin improvement in the second half of the year as the SiMaxx transition completes.
This article is for informational purposes only and does not constitute investment advice.
