Amprius Technologies Reports Robust Q4 and FY2025 Results, Announces Transformational Outlook for 2026

Key Financial Highlights

• Q4 2025 Revenue: \$25.2 million, up 137% YoY and 18% sequentially.
• Full-Year 2025 Revenue: \$73.0 million, a 202% increase from 2024.
• Q4 Gross Margin: Improved to 24%, with gross profit up 365% YoY.
• Full-Year Gross Margin: 11%, up 87 percentage points from last year.
• Q4 Net Loss: \$24.4 million, including a one-time impairment charge of \$22.5 million related to Colorado facility assets.
• Adjusted Q4 Net Loss: \$1.9 million, excluding one-time charges.
• Full-Year Net Loss: \$44.0 million, but adjusted to \$21.5 million after excluding one-time charges.
• First Positive Quarterly Non-GAAP Adjusted EBITDA: \$1.8 million in Q4 2025, up \$1.1 million sequentially and \$6.5 million YoY.
• Full-Year Non-GAAP Adjusted EBITDA: \$(5.3) million, an \$18.1 million YoY improvement.
• Cash Position: Ended 2025 with \$91.9 million in cash and equivalents.

Strategic and Operational Developments

• Customer Base Expansion: Over 550 customers, marking significant commercial progress and adoption of silicon anode batteries across multiple end markets.
• Defense Innovation Unit (DIU) Agreement: Expanded by \$2.8 million; total agreement now \$14.8 million for NDAA-compliant advanced drone batteries, highlighting Amprius’ strategic role in defense supply chain security.
• Manufacturing Model Shift: Terminated 15-year lease for Colorado facility for \$20.0 million, eliminating over \$110 million in lease liability, signaling a move to a capital-light manufacturing strategy and improved cost structure.
• Domestic Manufacturing Partner Secured: First U.S.-based partner in place to scale SiCore battery production, enabling compliance with National Defense Authorization Act (NDAA) requirements.
• Global Manufacturing Expansion: Added three contract manufacturers to Amprius Korea Battery Alliance, broadening global production capabilities and direct access to advanced battery ecosystems.
• Key Customer Win: Selected by Nokia Drone Networks to power next-gen drone systems after rigorous qualification and testing.
• Leadership Change: Tom Stepien appointed CEO following Dr. Kang Sun’s retirement, positioned to lead next phase of growth.

2026 Financial Outlook and Guidance

• Revenue Guidance: At least \$125 million, representing a minimum 70% growth.
• Net Loss Guidance: Expected to be below \$8 million; net loss per share under \$0.06.
• Adjusted EBITDA: At least \$4 million, marking continued profitability improvement.
• Capital Expenditure: Expected to be under \$10 million.
• Assumptions: Depreciation and amortization of \$4.7 million, stock-based compensation of \$8.3 million, interest income of \$1.0 million, weighted average shares outstanding of 132 million.

Implications and Potential Share Price Drivers

• Record Revenue Growth: Sustained triple-digit growth in both quarterly and annual revenues signals accelerating adoption of Amprius’ technology and business model, which is likely to be viewed positively by the market.
• Gross Margin Improvement: Shift from negative to positive gross margins and gross profit, indicating successful cost management and pricing power.
• Strategic Shift to Capital-Light Manufacturing: The termination of the Colorado facility lease materially reduces liabilities, frees up cash, and aligns with scalable, asset-light business strategies investors favor.
• Government and Defense Sector Engagement: Ongoing and expanded DIU contracts with the U.S. government, and NDAA compliance, secure Amprius’ position in critical defense applications—potentially unlocking further contract wins.
• Guidance for Profitability: Forecast for positive adjusted EBITDA and sharply reduced net loss in 2026, indicating a path toward sustained profitability and financial health.
• Global Expansion and Key Partnerships: New contract manufacturing relationships in Korea and the U.S., along with customer wins like Nokia, expand Amprius’ addressable market and commercial reach.
• Strong Cash Position: \$91.9 million in cash provides runway for growth, innovation, and operational resilience.
• Leadership Update: New CEO Tom Stepien expected to further drive commercial success and operational excellence.

Business Risks and Forward-Looking Statements

Amprius notes several risks, including supply chain disruptions, cost inflation, competition, macroeconomic factors, and policy changes. The company may recognize additional charges or realize gains/losses related to capacity expansion and other operational events. Investors should monitor ongoing disclosures and SEC filings for updated information as actual results may differ materially from guidance.

Investor Communication and Conference Call

Amprius will hold a conference call with management to discuss Q4 and FY2025 results and recent business developments on March 5, 2026 at 8:30 a.m. EST. Shareholders and interested parties can dial in or access the webcast via the Investors section of the company website.

About Amprius Technologies

Amprius Technologies, Inc. is a leader in advanced lithium-ion battery technology, specializing in silicon anode batteries that deliver up to twice the energy density, range, and flight time compared to conventional graphite-based cells. The company employs a contract manufacturing strategy for scalable production, supporting applications in aerospace, defense, and mobility.

Disclaimer: This article is for informational purposes only and does not constitute financial advice, investment recommendations, or an offer to buy or sell securities. All forward-looking statements are subject to risks and uncertainties as outlined by Amprius Technologies and in their SEC filings. Investors should conduct their own due diligence and consult with qualified financial professionals before making investment decisions.

View Amprius Technologies, Inc. Historical chart here