Summary of Amprius Technologies Q2 2026 Earnings Call

1Key Financial Results and Metrics

Revenue: Achieved $34 million in Q2 2026, a 19% increase from Q1 and 2.3x year-over-year growth. Annual revenue run rate is now $136 million.

Gross Profit: $9.3 million with a gross margin of 27%, improving from 20% in Q1 and 9% in Q2 2025.

Operating Loss: Reduced to $4.3 million from $6.7 million in Q1 and $6.8 million in Q2 2025.

Net Loss: GAAP net loss of $5.1 million ($0.04 per share), narrowing from a loss of $6.4 million in Q2 2025.

Adjusted EBITDA: Negative $1 million, improving from negative $1.8 million in Q1 and negative $2.1 million in Q2 2025.

Cash Position: Ended Q2 with $74.5 million in cash, up $12.2 million during the quarter, with no debt.

2Strategic Updates and Business Highlights

Product Demand: Strong demand for silicon anode lithium-ion batteries, particularly in military UAVs and commercial drones.

Defense Contracts: Increased contract with the Defense Innovation Unit to $18.1 million, supporting the expansion of a pilot line in Fremont, California.

New Orders: Secured a $24 million order from a European drone manufacturer and a $21 million order from a Chinese electric mobility customer.

Management Changes: Ronnie Tao appointed as Chief Business Officer, focusing on market expansion, and Anne Torricelli as VP of Sales to enhance sales efforts.

Manufacturing Strategy: Continued reliance on contract manufacturing partners in China and South Korea, with plans to expand U.S. capacity.

3Forward Guidance and Outlook

Revenue Guidance: Increased full-year revenue forecast to at least $140 million, up from previous guidance of $130 million.

Gross Margin Guidance: Expected to be at least 28% for the second half of 2026, with potential upside.

Adjusted EBITDA: Reiterating guidance of more than $4 million for the year, with a net loss of $10 million or less.

4Bad News, Challenges, or Points of Concern

Supply Chain Risks: Challenges in securing contracts with new suppliers for NDAA compliance, which may affect production timelines.

Market Competition: Competitive pressures in the drone battery market, particularly regarding energy density and integration of battery types.

Regulatory Delays: Potential lag in revenue recognition from the 2027 defense budget due to the timing of budget approvals and subsequent order placements.

Operational Costs: Increased operational expenses expected as the company scales, which may impact profitability in the short term.

5Notable Q&A Insights

Supplier Contracts: CEO Tom Stepien confirmed ongoing efforts to finalize contracts with new suppliers for NDAA compliance, indicating progress but acknowledging the complexity involved.

Customer Relationships: Emphasis on building long-term relationships with customers, particularly in the defense sector, to ensure repeat business and trust.

Market Dynamics: Discussion on the evolving landscape of drone manufacturing and the importance of energy density in battery performance, especially for military applications.

Robotics and Data Centers: Exploration of new markets such as robotics and data centers, with initial discussions underway to leverage high-energy density batteries in these sectors. Overall, Amprius Technologies is experiencing robust growth driven by strong demand in the UAV market, strategic partnerships, and a solid financial position, despite facing challenges related to supply chain management and competitive pressures.