Amprius Technologies Q3 earnings call highlights. Amprius Technologies (NYSE:AMPX) raised its 2026 revenue target for the third consecutive quarter after reporting record third-quarter sales, but lowered its adjusted EBITDA outlook as it invests in product development, U.S. manufacturing and customer acquisition. The silicon-anode battery maker reported revenue of $39.1 million, up 83% from a year earlier and 15% from the second quarter. Chief Executive Officer Tom Stepien said demand came from a growing group of aviation, defense and advanced mobility customers. Amprius now expects 2026 revenue of $145 million, up from its prior forecast of at least $140 million. It lowered its adjusted EBITDA forecast to at least $2.5 million from more than $4 million, citing additional operating expenses to support projected demand. Revenue growth and margin outlook. North American revenue more than doubled year over year to $12.2 million in the third quarter, while European revenue was $23.3 million. Europe remained the company's largest market, accounting for nearly 60% of sales. Revenue for the first nine months of 2026 reached $101.7 million, up 113% from the same period a year earlier. Gross margin was 26.9%, compared with 27.3% in the second quarter and 15% a year earlier. Chief Financial Officer Ricardo Rodriguez said a greater mix of cylindrical cells and North American shipments reduced margin, as did the use of air freight to meet demand. Lower expenses in Fremont, California, and pricing helped offset those pressures, he said. Amprius reported a third-quarter net loss of $3.5 million, or 2 cents per share, compared with a loss 10% wider a year earlier. Adjusted EBITDA was negative $1 million. The company maintained its full-year gross margin forecast of at least 28%, which Rodriguez said implies a fourth-quarter margin of almost 35%. He pointed to an expected increase in higher-margin pouch cell sales, greater sales volume, pricing and a shift toward ocean freight as potential improvements. He said the freight benefit would mostly arrive in 2027. The revenue forecast implies fourth-quarter sales of about $43.3 million, roughly 11% above the third quarter. Rodriguez said the company was prioritizing margins and its path to profitability over pursuing additional near-term revenue. Amprius also reiterated its forecast for a 2026 net loss of $10 million or less and capital expenditures below $10 million. Rodriguez said the adjusted EBITDA outlook includes approximately $6 million of work expected to be completed in the fourth quarter under the company's $18.1 million Defense Innovation Unit agreement. That work is recorded as other income rather than revenue. Manufacturing expansion and defense demand. Stepien said Amprius is expanding its contract manufacturing network to meet demand while limiting capital spending. The company recently reached an agreement with CAMINUS to produce pouch cells in Indianapolis, with volume production targeted for the first quarter of 2027. Separately, Amprius received a $75 million competitive contract through the U.S. Department of War's Industrial Base Analysis and Sustainment Program to retrofit an existing domestic battery production line operated by a South Korean partner. Of the contract total, $22.3 million has been obligated, Stepien said. The conversion is expected to cost approximately $100 million, including in-kind investments from Amprius, and to be completed in early 2028. The company expects the line to have annual capacity of 12 million pouch cells. Stepien said the project is underway and that equipment delivery and factory work will likely become visible in the summer or fall of 2027. Amprius is already shipping cells compliant with National Defense Authorization Act sourcing requirements and remains on track for domestically produced compliant cells in 2027, Stepien said. He also said the company is discussing potential manufacturing arrangements in Europe, where some customers have expressed sourcing preferences. During the question-and-answer session, Oppenheimer analyst Colin Rusch noted that the company had raised its 2030 revenue target to $800 million from $600 million. Rodriguez said the additional $200 million was tied to expected capacity from the South Korean partner and CAMINUS, which together could add 270 to 300 megawatt-hours annually, depending on product mix. New products and markets. Amprius introduced its SiCore 500 cell in September for long-endurance aviation applications. Stepien said the cell, rated at 500 watt-hours per kilogram, is designed for standard lithium-ion manufacturing equipment and cell formats. The company plans to ship cells to high-altitude platform customers in the fourth quarter. Amprius also began shipping SiCore cells to a European manufacturer of autonomous deep-sea vehicles used in commercial, scientific and defense applications. Stepien said the vehicles operate at depths greater than 3,000 meters and called the subsea market a new growth opportunity. Looking ahead, Stepien said drones would still account for the dominant share of revenue in 2027, but he expects the business to become more balanced by 2030 as Amprius pursues applications including robotics and electric vertical takeoff and landing aircraft. Amprius ended the third quarter with $60.7 million in cash and no debt. Cash declined by $13.8 million during the quarter as the company funded capital spending and working capital, including advances to manufacturing partners to secure supply for late 2026 and 2027. About Amprius Technologies (NYSE:AMPX). Amprius Technologies, Inc. develops and manufactures lithium-ion batteries designed to provide high energy density and power. Its battery technology uses silicon-based anodes, an alternative to the graphite anodes commonly used in conventional lithium-ion cells. The company's products are designed for applications where low weight and high performance are important, including electric aviation, drones, aerospace, defense and other mobility markets. Amprius offers silicon-anode cells for customers developing these systems.

Amprius raises 2026 revenue outlook to $145 million as quarterly sales rise 83%. Key points * Revenue rose 83% to a record $39.1 million and gross margin widened to 27% from 15% [[1]]. * U.S. revenue rose 2.3 times from the second quarter to $12.2 million [[1]]. * The 2026 revenue outlook rose to $145 million from at least $140 million, implying about $43 million in the fourth quarter [[1]]. Amprius Technologies raised its 2026 revenue outlook to $145 million from at least $140 million on Nov. 10 after third-quarter revenue rose 83% to a record $39.1 million [[1]]. Revenue for the first nine months was $101.7 million, so the new outlook implies about $43 million in the fourth quarter, an MLQ.ai calculation [[1]]. The Fremont, California, company makes silicon-anode lithium-ion cells for drones, aircraft and defense systems, largely through contract manufacturers. Gross profit more than tripled to $10.5 million and the net loss narrowed to $3.5 million, or 2 cents a share, from $3.9 million [[1]]. Adjusted EBITDA was a loss of $1.0 million against a $0.2 million profit a year earlier, as research and development spending rose to $6.4 million from $2.5 million [[1]]. U.S. revenue rose 2.3 times from the second quarter to $12.2 million [[1]]. Defense contract and new cells. Amprius quarterly results, $ millions [[1]] [[2]]: | Metric | Q3 2026 | Q2 2026 | Q3 2025 | | Revenue | 39.1 | 34.0 | 21.4 | | Gross profit | 10.5 | 9.3 | 3.3 | | Gross margin | 27% | 27% | 15% | | Operating loss | (4.7) | (4.3) | (4.7) | | Net loss | (3.5) | (3.2) | (3.9) | Amprius listed a competitive $75 million U.S. Department of War contract, $22.3 million of it obligated, to convert an existing battery production line to make up to 12 million NDAA-compliant cells a year in 2028 [[1]]. It introduced the SiCore 500, a 500-watt-hour-per-kilogram cell made on conventional lithium-ion equipment, expanded deployment with German drone maker Quantum Systems on its Vector and Twister platforms, and began supplying cells for a solar-powered stratospheric platform built by a U.S. aerospace company it did not name [[1]]. For 2026 Amprius now expects gross margin of at least 28%, a net loss under $10 million and adjusted EBITDA of at least $2.5 million [[1]]. Cash and equivalents were $60.7 million at Sept. 30, down from $90.5 million at the end of 2025, after $48.0 million of operating cash outflow in nine months as receivables and inventory grew [[1]]. "We delivered record revenue, as we continued to deepen our relationships with customers across the drone, aviation, defense, and advanced mobility markets," Chief Executive Tom Stepien said [[1]]. Companies mentioned. At the intersection of AI, tech, and markets. The stories that matter, in one email. Free - unsubscribe anytime.