Amprius Technologies (AMPX) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 revenue of $28.5 million, up 153% year-over-year and 13% sequentially, driven by strong SiCore battery adoption and major customer wins in defense and electric mobility.

• Gross margin turned positive at 20%, up from -21% a year ago, with gross profit of $5.7 million.

• Net loss narrowed to $5.0 million from $9.4 million year-over-year, with net loss per share at $0.04.

• Recognized as a top green tech company by Time and received multiple innovation awards.

• Terminated Brighton, Colorado facility lease with a $20 million payment, shifting focus to contract manufacturing and expanding the Fremont pilot line.

Financial highlights

• Q1 2026 revenue: $28.5 million (up from $11.3 million year-over-year); gross profit: $5.7 million; gross margin: 20%.

• Q1 net loss: $5.0 million (improved from $9.4 million loss year-over-year); adjusted EBITDA: -$1.8 million.

• Cash and cash equivalents at quarter-end: $62.4 million, rising to $71.2 million by May 1, 2026.

• Operating cash outflow: $20.6 million in Q1 2026, mainly due to lease termination.

• Shareholders’ equity stood at $109.4 million at quarter’s end.

Outlook and guidance

• Full-year 2026 revenue guidance raised to at least $130 million, with adjusted EBITDA expected at least $4 million and net loss no more than $8 million.

• CapEx for 2026 expected to remain below $10 million, funded by Defense Innovation Unit contracts.

• Gross margin target of 25% for the year, with improvement expected in the second half as logistics and supply chain efficiencies increase.

• OPEX run rate capped at $50 million/year due to phase-out of SiMaxx production.

• Net loss per share expected under $0.06 for 2026.