8-K: Amprius Technologies Reports Strong Q1 2026 Results

Amprius Technologies announced first quarter 2026 results, showcasing significant year-over-year revenue growth and improved net loss, alongside an increased full-year revenue outlook.

Summary

• Amprius Technologies reported first quarter 2026 revenue of $28.5 million, a 2.5x increase compared to $11.3 million in Q1 2025.
• The company achieved a GAAP gross margin of 20%, with gross profit improving 343% year-over-year.
• Net loss for the quarter was $5.0 million, a significant improvement from $9.4 million in Q1 2025.
• Non-GAAP Adjusted EBITDA was ($1.8) million, an improvement of $3.4 million year-over-year.
• Amprius has raised its full-year 2026 revenue outlook to at least $130 million, up from $125 million.
• The company reiterated its full-year 2026 targets for a net loss below $8.0 million and positive non-GAAP Adjusted EBITDA of at least $4.0 million.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive report, with significant revenue growth, improved profitability metrics, and an increased financial outlook, indicating positive momentum and market traction.

Positives

• Record revenue of $28.5 million in Q1 2026, up 13% sequentially and 2.5x year-over-year.
• GAAP gross margin of 20%, with gross profit improving 343% year-over-year.
• Net loss improved by $4.3 million year-over-year to $5.0 million.
• Non-GAAP Adjusted EBITDA improved by $3.4 million year-over-year to ($1.8) million.
• Secured approximately $500 million in new orders from U.S. defense customers.
• Increased existing contract with the Defense Innovation Unit (DIU) to $18.1 million.
• Received a $21.0 million purchase order for SiCore cylindrical cells from a new electric mobility customer in China.
• Named one of America's Top GreenTech Companies for 2026 by Time magazine.

Negatives

• Net loss of $5.0 million in Q1 2026, indicating continued unprofitability.
• Non-GAAP Adjusted EBITDA was negative at ($1.8) million for Q1 2026.
• Cash and cash equivalents decreased from $90.5 million at the end of 2025 to $62.4 million at the end of Q1 2026.
• Net cash used in operating activities was $37.3 million for the quarter.

Risks

• Potential for supply chain disruptions.
• Risk of further cost inflation.
• Competition from alternative technologies.
• Changes in governmental policies impacting customers and markets.
• Macroeconomic factors affecting the global economy and capital markets.
• Ability to secure additional contract manufacturers for geographic diversification and operating flexibility.
• Reliance on contract manufacturing partners for production quantities and quality.
• Uncertainty regarding the timing and amount of potential non-recurring items impacting future financial results.

Future Outlook

Amprius has increased its full-year 2026 revenue outlook to at least $130 million, raised from at least $125 million, citing additional demand. The company is reiterating its targets for a full-year net loss below $8.0 million and positive non-GAAP Adjusted EBITDA of at least $4.0 million. Capital expenditure is expected to be under $10.0 million.

Management Comments

• "We entered 2026 with momentum, and our team delivered. Q1 revenue grew 13% sequentially, which we believe reflects both the depth of our relationships with existing drone customers and our ability to win in new end markets."
• "We believe the $21.0 million purchase order we recently announced from a light electric vehicle customer underscores the expanding commercial reach of our silicon anode batteries."
• "This combination of execution, repeat business, and new program wins provides a foundation for continued growth, as reflected in our increased revenue guidance."
• "Last year, Amprius presented early evidence of the potential strength of our business model, with the revenue base steadily increasing and margins improving. In 2026, our team is energized to continue delivering a meaningful step function in growth and profitability with an increasingly efficient capital structure and scale-enabling costs."

Industry Context

StockSavvy.ai notes that Amprius Technologies' strong Q1 2026 performance, particularly its revenue growth and improved net loss, aligns with the increasing demand for advanced battery technologies in sectors like electric mobility and defense. The company's focus on silicon anode technology positions it to capitalize on the trend towards higher energy density and longer-lasting batteries, a key differentiator in a competitive market.

Comparison to Industry Standards

• Amprius' year-over-year revenue growth of 2.5x in Q1 2026 significantly outpaces the typical growth rates seen in the broader battery manufacturing industry, which often experiences more moderate expansion.
• The company's gross margin improvement of 343% YoY is a strong indicator of improving operational efficiency, a critical factor for profitability in the capital-intensive battery sector.
• While many battery companies are still working towards profitability, Amprius' projected positive non-GAAP Adjusted EBITDA for FY 2026 at $4.0 million suggests a path towards financial sustainability, though it remains to be seen how this compares to emerging competitors in specialized silicon anode applications.

Stakeholder Impact

• Shareholders: Potential for increased value due to improved financial performance and raised outlook.
• Employees: Continued focus on innovation and growth may lead to job security and opportunities.
• Customers: Demonstrated ability to secure large orders and deliver advanced battery technology.
• Suppliers: Increased production and order volume may lead to greater demand for raw materials and components.
• Creditors: Improved financial health and outlook could strengthen the company's creditworthiness.

Next Steps

• Continue to execute on business and financial results for the remainder of 2026.
• Focus on expanding commercial reach into new end markets.
• Leverage new program wins and repeat business for continued growth.
• Monitor and manage potential risks related to supply chain, cost inflation, and macroeconomic factors.
• Participate in the conference call on May 7, 2026, to discuss Q1 results and outlook.

Key Dates

Recommendation

The filing demonstrates significant year-over-year growth in revenue and substantial improvement in net loss, coupled with an increased full-year revenue outlook and positive Adjusted EBITDA target. The company is securing large orders from key customers in defense and electric mobility, highlighting strong market adoption of its advanced silicon anode battery technology. These factors collectively suggest a company on a strong growth trajectory with improving financial fundamentals, warranting a strong buy recommendation.

Keywords

Amprius Technologies, Silicon Anode Batteries, Lithium-ion Batteries, Q1 2026 Earnings, Revenue Growth, Net Loss Improvement, Electric Mobility, Defense Contracts