Amprius Technologies (AMPX) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $34.0 million, up 126% year-over-year and 19% sequentially, marking the sixth consecutive quarter of sequential growth and driven by strong demand in drone, e-mobility, and defense markets.

• Gross margin improved to 27% from 9% in Q2 2025, reflecting operational leverage and higher sales volumes.

• Net loss narrowed to $5.1 million or $(0.04)/share, with adjusted net loss of $3.2 million excluding a $1.9 million non-cash warrant charge.

• Secured major contracts, including a $24 million order from a European drone manufacturer and a multi-year, $100 million+ agreement with Stark Future for electric motorcycles.

• Expanded manufacturing capacity above 2.0 GWh through partnerships in South Korea and the U.S., with ongoing NDAA compliance initiatives and a shift from the Brighton, Colorado facility to contract manufacturing.

Financial highlights

• Q2 2026 revenue: $34.0 million (up 126% YoY, 19% sequentially); H1 2026 revenue: $62.6 million (up 137% YoY).

• Gross margin: 27% in Q2 (up from 9% in Q2 2025); gross profit: $9.3 million.

• Net loss: $5.1 million GAAP, $3.2 million adjusted; adjusted EBITDA: -$1 million in Q2.

• Cash and cash equivalents at June 30, 2026: $74.5 million; no debt; working capital: $113.2 million.

• Operating expenses increased 67% YoY to $13.6 million for Q2 2026, reflecting higher R&D and SG&A costs.

Outlook and guidance

• 2026 revenue guidance raised to at least $140 million (previously $130 million); gross margin guidance increased to at least 28%.

• Adjusted EBITDA expected to exceed $4 million; net loss expected to be under $10 million.

• CAPEX for 2026 expected to remain under $10 million, focused on Fremont pilot line expansion.

• Cash on hand expected to fund obligations for at least the next twelve months; additional funding may be sought as needed.

• Long-term targets: $600 million+ contracted capacity, gross margins above 30%, and adjusted EBITDA margins of at least 20% by decade end.