AMPX Q2 2026 Earnings Call Summary

1Key Financial Results and Metrics:

Revenue: $34 million, up 19% sequentially and 2.3x year-over-year, marking the sixth consecutive quarter of growth.

Annual Revenue Run Rate: $136 million.

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

Operating Loss: $4.3 million, narrowed from $6.7 million in Q1 and $6.8 million in Q2 2025.

Net Loss: $5.1 million or negative $0.04 per share, a 20% improvement year-over-year.

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

Cash Position: $74.5 million with no debt, an increase of $12.2 million during the quarter.

2Strategic Updates and Business Highlights:

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

Contracts: Secured a $24 million order from a new European drone manufacturer and a $21 million order for light electric vehicles in China.

Defense Sector: Participation in the Department of War's drone dominance program, with half of the finalists using Amprius cells.

Manufacturing Expansion: Pilot line in Fremont expected to begin production in December 2026, with nearly half of the necessary equipment installed.

Management Changes: Ronnie Tao appointed Chief Business Officer to expand into new markets, and Anne Torricelli as VP of Sales to enhance sales efforts.

3Forward Guidance and Outlook:

Revenue Forecast: Increased to at least $140 million for 2026, up from previous guidance of over $130 million.

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

Adjusted EBITDA: Targeting over $4 million for the year, with a net loss of $10 million or less.

Long-term Goals: Aiming for over $600 million in contracted capacity and gross margins above 30% by the end of the decade.

4Bad News, Challenges, or Points of Concern:

Supply Chain Risks: Challenges in qualifying new suppliers for NDAA compliance and potential delays in ramping up U.S. manufacturing capacity.

Market Competition: Competitive pressures in the drone battery market, with the need to maintain technological leadership and customer trust.

Operational Costs: The need to manage fixed costs effectively as production scales, which could affect margins if not handled properly.

Visibility on Future Orders: While current demand is strong, there is uncertainty regarding the timing and volume of future orders from defense contracts.

5Notable Q&A Insights:

Supplier Contracts: Management is actively working on securing contracts with new suppliers for NDAA compliance, with progress being made weekly.

Customer Relationships: The company is seeing improved visibility into demand due to tighter relationships with pack houses and OEMs.

Market Expansion: Discussion of potential opportunities in robotics and data centers, with ongoing efforts to position Amprius' technology in these emerging markets.

Pouch Cell Manufacturing: Interest in potentially partnering for U.S. pouch cell manufacturing, indicating a strategic move to enhance domestic production capabilities. Overall, Amprius Technologies is experiencing robust growth driven by strong demand in the drone and electric vehicle markets, while also navigating challenges related to supply chain management and competitive pressures. The company remains optimistic about its future prospects and has set ambitious targets for growth and profitability.