Amprius Technologies (AMPX) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $28.5 million, up 153% year-over-year and 13% sequentially, driven by strong SiCore battery adoption and major new orders in defense and electric mobility markets.

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

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

• Major customer wins include Kraus Hamdani Aerospace, AeroVironment, Teledyne FLIR, and a $21 million order from a leading Chinese light electric vehicle customer.

• Recognized by TIME Magazine as a top green tech company and received multiple sourcing awards.

Financial highlights

• Q1 2026 revenue was $28.5 million, up from $11.3 million in Q1 2025; gross profit was $5.7 million, with a gross margin of 20%.

• Adjusted EBITDA for Q1 was -$1.8 million, improved from -$5.2 million year-over-year.

• GAAP net loss was $5.0 million, or -$0.04 per share, improved from $9.4 million loss or -$0.08 per share year-over-year.

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

• Operating cash outflow was $20.6 million in Q1 2026, primarily due to the $20 million lease termination payment.

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 capped at $8 million.

• CapEx for 2026 projected below $10 million, funded mainly by the Defense Innovation Unit contract.

• 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.

• Management expects continued losses as operating expenses and R&D investments increase to support scaling.