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Amprius Technologies Inc (AMPX)
NYSE:AMPX
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Amprius Technologies Inc
(NYSE:AMPX)
51Neutral
Positive Factors
Market Opportunities
The availability of cylindrical battery cells with SiCore opens up new market opportunities for Amprius.
Product Performance
Amprius's SiCore product is demonstrating industry-leading performance, with its most recent cell delivering 370 Wh/kg and capable of 10C discharge.
Sales Growth
Amprius is demonstrating rapid sales acceleration supported by new customer additions and growing sales to existing customers.
Negative Factors
Equity Dilution
The $66 million remaining at-the-money equity facility presents a substantial amount of dilution if exercised at the current valuation.
Market Volatility
The low float makes it volatile and difficult for large investors to get involved meaningfully.
Tariff Concerns
Potential headwinds from new tariff-related developments should be considered by investors.
Amprius Technologies Inc (AMPX) vs. S&P 500 (SPY)
Market Cap
$331.37M
Dividend YieldN/A
Average Volume (3M)3.70M
Price to Earnings (P/E)―
Beta (1Y)2.29
Revenue Growth166.95%
EPS Growth-3.40%
CountryUS
Employees99
SectorIndustrials
Sector Strength66
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.44
Shares Outstanding117,926,810
10 Day Avg. Volume5,987,745
30 Day Avg. Volume3,698,409
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)18.83
Price to Cash Flow (P/CF)-8.60
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$10.00Price Target Upside255.87% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
Amprius Technologies Inc Business Overview & Revenue Model
Company DescriptionAmprius Technologies Inc (AMPX) is a company specializing in the development and manufacturing of advanced lithium-ion battery technology. It operates within the energy storage sector, primarily focusing on producing high-energy and high-power lithium-ion batteries for electric vehicles, drones, and other consumer electronics. Amprius Technologies is known for its innovative approach, leveraging silicon nanowire anode technology to enhance battery performance.
How the Company Makes MoneyAmprius Technologies Inc generates revenue through the sale of its advanced lithium-ion batteries to various industries, including automotive, aerospace, and consumer electronics. The company's key revenue streams include direct sales of battery products, licensing of its proprietary technology, and strategic partnerships with manufacturers and suppliers. Amprius's earnings are significantly influenced by its ability to maintain competitive advantages in battery performance and establish long-term supply agreements with major industry players. Additionally, collaborations with research institutions and continuous innovation contribute to sustaining its market position and financial growth.
Amprius Technologies Inc Financial Statement Overview
Summary
Amprius Technologies Inc is experiencing strong revenue growth, but faces significant profitability and cash flow challenges. With negative profit margins and cash flow, the company is reliant on further financing. The moderate leverage offers some stability, but liquidity concerns remain.Income Statement
Amprius Technologies Inc's income statement reflects significant challenges. The TTM data shows negative gross and net profit margins, with gross profit margin at -114.15% and net profit margin at -245.87%. Revenue has increased from $9.05M in 2023 to $17.48M in TTM, indicating a strong revenue growth rate of 93.13%. However, the company is struggling with profitability as indicated by the negative EBIT and EBITDA margins.45
Neutral
Balance Sheet
The balance sheet presents a mixed picture. The debt-to-equity ratio for the TTM is relatively moderate at 0.67, showing manageable leverage. However, the return on equity is negative, indicating ineffective use of equity to generate profits. The equity ratio stands at 53.73%, suggesting a decent level of equity financing. The company's asset base has slightly decreased, and liquidity may become a concern if cash flow issues persist.50
Neutral
Cash Flow
The cash flow statement highlights concerns regarding cash generation. The TTM shows a negative free cash flow of -$44.65M, with a deterioration from the previous year. The operating cash flow to net income ratio is negative, indicating cash outflows in operations exceed the net income. While the company has raised financing cash flow, the negative cash flow trends pose a risk to financial stability.40
Negative
| Breakdown | ||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 17.48M | 9.05M | 4.41M | 2.77M | 4.68M | Gross Profit |
| -19.96M | -14.68M | -5.44M | -4.33M | -2.02M | EBIT |
| -44.25M | -38.71M | -18.04M | -10.62M | -7.45M | EBITDA |
| -41.10M | -36.90M | -16.50M | -8.46M | -6.18M | Net Income Common Stockholders |
| -42.99M | -36.78M | -16.62M | -9.88M | -7.46M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 2.00K | 45.76M | 69.70M | 11.49M | 2.00K | Total Assets |
| 0.00 | 107.74M | 83.17M | 18.53M | 6.66M | Total Debt |
| 0.00 | 35.57M | 3.02M | 0.00 | 743.00K | Net Debt |
| 2.00K | -10.19M | -66.67M | -11.49M | 741.00K | Total Liabilities |
| 0.00 | 47.94M | 10.14M | 4.67M | 5.49M | Stockholders Equity |
| 1.17M | 59.80M | 73.03M | 13.86M | 1.17M |
| Cash Flow | Free Cash Flow | |||
| -44.65M | -43.10M | -15.36M | -8.63M | -5.57M | Operating Cash Flow |
| -32.07M | -25.55M | -13.88M | -8.02M | -5.04M | Investing Cash Flow |
| -12.59M | -17.55M | -1.48M | -609.00K | -527.00K | Financing Cash Flow |
| 27.50M | 19.17M | 73.63M | 20.11M | 5.57M |
Amprius Technologies Inc Technical Analysis
Positive
2.81
Price Trends
2.88
Negative
2.56
Positive
1.86
Positive
Market Momentum
0.08
Negative
53.73
Neutral
58.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPX, the sentiment is Positive. The current price of 2.81 is above the 20-day moving average (MA) of 2.37, below the 50-day MA of 2.88, and above the 200-day MA of 1.86, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 53.73 is Neutral, neither overbought nor oversold. The STOCH value of 58.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMPX.
Amprius Technologies Inc Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $8.06B | 13.61 | 3.91% | 3.11% | 3.80% | -14.06% | |
59 Neutral | $182.64M | ― | -26.15% | ― | ― | -457.87% | |
52 Neutral | $196.55M | ― | -21.13% | ― | 15.67% | -45.59% | |
51 Neutral | $331.37M | ― | -70.24% | ― | 166.95% | -3.40% | |
46 Neutral | $2.37B | ― | -38.29% | ― | ― | 2.40% | |
44 Neutral | $1.43B | ― | -88.04% | ― | 1429.35% | -36.13% | |
41 Neutral | $198.12M | ― | -31.44% | ― | ― | -83.20% |
* Industrials Sector Average
Performance Comparison
AMPX
Amprius Technologies Inc
2.81
0.22
8.49%
TE
T1 Energy
1.30
-0.49
-27.37%
QS
QuantumScape
4.33
-1.80
-29.36%
ENVX
Enovix
7.48
-0.43
-5.44%
SES
SES AI Corporation Class A
0.54
-1.07
-66.46%
SLDP
Solid Power
1.08
-0.90
-45.45%
Amprius Technologies Inc Earnings Call Summary
Earnings Call Date: Mar 20, 2025 | % Change Since: 21.65% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call highlights Amprius Technologies' strong revenue growth, customer expansion, and global market penetration. However, the company still faces financial challenges with negative gross margins and a significant net loss. The strategic partnerships and contract manufacturing success indicate a promising future, but the financial metrics show room for improvement.Highlights
Record Sales Revenue
Amprius achieved record sales revenue of $10.6 million in Q4 2024, a 35% increase from Q3 2024 and a 170% increase from Q4 2023. Full-year revenue reached $24.2 million, marking a 167% increase from 2023.
Customer Expansion
Amprius shipped to 98 total customers in Q4 2024, with 53 new customers. Total customer engagements reached 235 for the year, reflecting a strong growth path and product competitiveness.
Global Market Penetration
77% of Q4 2024 revenue came from outside the United States, compared to just 22% in the same period of last year, indicating a significant expansion of the customer base worldwide.
Fortune 500 Agreements
Amprius signed agreements with two Fortune 500 companies, including a nonbinding letter of intent with a Fortune Global 500 technology OEM to develop a high-energy battery cell, and a development contract for a small format, custom, high-energy density SiMaxx pouch cell.
Contract Manufacturing Success
Amprius secured over 1.8 gigawatt-hour cell manufacturing capacity through contract manufacturing, without spending on infrastructure, enabling flexibility and scalability.
Lowlights
Negative Gross Margin
Despite improvements, the gross margin remained negative at 21% in Q4 2024, compared to negative 65% in Q3 2024 and negative 98% in Q4 2023, due to cost structure and preconstruction planning costs.
Net Loss
Amprius reported a GAAP net loss of $11.4 million for Q4 2024 and $44.7 million for the full year, with negative EPS of $0.10 per share in Q4 and $0.45 for the year.
R&D and Operating Expense Increase
Operating expenses for Q4 2024 were $9.5 million, an increase of 55% from Q3 2024, due to higher R&D costs and nonrecurring charges, including stock-based compensation and a write-down of property, plant, and equipment.
Company Guidance
During the Amprius Technologies Fourth Quarter and Full Year 2024 Earnings Conference Call, CEO Dr. Kang Sun and CFO Sandra Wallach discussed the company's record performance and provided future guidance. Amprius reported $10.6 million in fourth-quarter revenue, marking a 35% increase from Q3 2024 and a significant 170% increase from Q4 2023. The company ended 2024 with $24.2 million in revenue, a 167% increase from 2023, driven by strong customer engagement and a diverse product portfolio that includes a high energy density and high-power density silicon anode battery. Amprius engaged with 235 customers in 2024, with 53 new customers in Q4 alone, and has added $16 million in new customer purchase orders to its backlog. The company's gross margin improved to negative 21% in Q4 2024 from negative 65% in Q3 2024. Amprius has expanded its manufacturing capacity to 1.8 gigawatt hours and is actively developing a global contract manufacturing network, including partnerships in Korea and Europe, to support future growth. Looking ahead, Amprius aims to continue its momentum, expand its customer base, and enhance its manufacturing capabilities in 2025.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.