Amprius Technologies Reports 383% Revenue Growth to $11.3 Million, Faces Net Loss of $9.4 Million

Amprius Technologies, Inc. reported significant financial growth in its latest quarterly filing, with revenues reaching $11.3 million for the three months ended March 31, 2025, a substantial increase of 383% compared to $2.3 million in the same period last year. This surge in revenue was primarily driven by a notable rise in sales of the company's SiCore batteries, which accounted for an increase of $8.6 million in battery sales, alongside a $0.3 million boost from government grants. Despite this revenue growth, the company reported a net loss of $9.4 million, slightly improved from a loss of $9.9 million in the prior year, indicating ongoing challenges in achieving profitability.

Operationally, Amprius has expanded its customer base, with total customer engagements exceeding 320 and shipments to 102 customers during the quarter. The company has also made strategic moves to enhance its manufacturing capabilities, including a supply agreement with Berzelius for silicon anode materials and partnerships with global contract manufacturers to scale production. As of March 31, 2025, Amprius had access to an annual production capacity of up to 1.8 GWh of SiCore batteries, reflecting its commitment to meeting increasing demand.

The company’s balance sheet showed total assets of $118.5 million, down from $121.1 million at the end of 2024, primarily due to a decrease in cash and cash equivalents, which stood at $48.4 million. Current liabilities also decreased to $14.0 million from $17.2 million, contributing to a reduction in total liabilities to $48.1 million. Amprius continues to rely on equity financing, having raised approximately $8.5 million through its At Market Issuance Sales Agreement during the quarter, with a total of $42.2 million raised since the agreement's inception.

Looking ahead, Amprius anticipates continued investment in research and development to enhance its battery technology and expand its product offerings. The company is also focused on scaling its manufacturing operations, particularly with plans for a GWh-scale facility in Brighton, Colorado, which is currently in pre-construction planning. However, the timeline and scope of this project will depend on funding availability and market conditions. The company remains cautious about potential risks, including supply chain disruptions and regulatory changes, which could impact its operations and financial performance.

In summary, while Amprius Technologies has demonstrated strong revenue growth and strategic advancements in its manufacturing capabilities, it continues to face challenges in achieving profitability and managing operational risks. The company’s outlook remains focused on scaling production and enhancing its product offerings to capture a larger share of the growing battery market.