8-K: Amprius Technologies Reports Strong Q2 2026 Results, Raises Outlook

Amprius Technologies announced a significant increase in Q2 2026 revenue, more than doubling year-over-year to $34.0 million, and raised its full-year revenue outlook.

Summary

• Amprius Technologies reported Q2 2026 revenue of $34.0 million, a 126% increase year-over-year from $15.1 million in Q2 2025.
• The company achieved a gross profit of $9.3 million, a 593% increase year-over-year, with a GAAP gross margin of 27%.
• Net loss attributable to common stockholders was $5.1 million, an improvement of 20% year-over-year, or $3.2 million excluding a $1.9 million non-cash impact from a warrant modification.
• Non-GAAP Adjusted EBITDA was $(1.0) million, a 53% improvement year-over-year.
• Amprius raised its full-year 2026 revenue outlook to at least $140.0 million and reiterated its target for net loss below $10.0 million, with positive non-GAAP Adjusted EBITDA of at least $4.0 million.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive development, with strong revenue growth and improving margins, alongside an increased financial outlook for the year.

Positives

• Revenue for Q2 2026 more than doubled year-over-year, reaching $34.0 million, up 126% from $15.1 million in Q2 2025.
• Gross profit surged by 593% year-over-year to $9.3 million, with GAAP gross margin improving to 27% from 9% in Q2 2025.
• Net loss improved by 20% year-over-year to $5.1 million, and by 50% to $3.2 million when excluding a non-cash warrant modification charge.
• Non-GAAP Adjusted EBITDA showed a 53% improvement year-over-year, reaching $(1.0) million.
• The full-year 2026 revenue outlook was increased to at least $140.0 million.
• A multi-year supply agreement with Stark Future is expected to exceed $100 million in revenue.
• A $24.0 million order was secured from a European drone manufacturer for SiCore cylindrical cells.

Negatives

• The company reported a net loss of $5.1 million for Q2 2026, although this represents an improvement from the prior year.
• Non-GAAP Adjusted EBITDA was still negative at $(1.0) million for the quarter.
• Cash and cash equivalents decreased from $90.5 million at the end of 2025 to $74.5 million at the end of Q2 2026.

Risks

• Potential for additional charges, gains or losses, financing costs, interest expense, or other events in 2026 related to capacity expansion, supply chain disruptions, or cost inflation that could cause actual results to vary materially from the outlook.
• Market demands for Amprius batteries.
• Ability to execute business model and strategy, including expanding manufacturing capacity and delivering high-performance products at acceptable prices.
• Effect of macroeconomic factors such as tariffs, trade barriers, geopolitical changes, currency fluctuations, and public health emergencies.
• Third-party producers of batteries continuing to produce batteries in expected quantities, caliber, and prices.
• Customers continuing to purchase batteries from Amprius.
• Risks related to the rollout of the business and timing of expected milestones.
• Effects of competition and potential adverse economic, business, or competitive factors, including supply chain interruptions and cost inflation.

Future Outlook

Amprius has raised its full-year 2026 revenue outlook to at least $140 million and reiterated its target for net loss to be below $10 million. The company also reiterated its target for positive non-GAAP Adjusted EBITDA of at least $4.0 million for the full year.

Management Comments

• "Amprius delivered another robust quarter, with revenue growing 2.3x year over year and gross margin expanding to 27%," said Amprius Technologies CEO Tom Stepien.
• "We saw healthy demand across drone and e-mobility markets. We secured the trust of several leading customers, including a $24 million order from a new European drone manufacturer, and a multi-year contract with Stark Future, which we expect to exceed $100 million."
• "The strong results and the depth of our pipeline give us the confidence to raise our full-year 2026 outlook for the second consecutive quarter."
• "This was a strong quarter for Amprius, with robust sequential growth, and gross margins on the path that we've been expecting. Our updated guidance reflects the increased visibility that were developing as we execute the first innings of this revenue ramp," added Amprius CFO Ricardo C. Rodriguez.

Industry Context

StockSavvy.ai notes that Amprius's strong performance in silicon anode lithium-ion batteries aligns with the growing demand for higher energy density and performance in sectors like aerospace, defense, and e-mobility. The company's focus on contract manufacturing for scalability is a common strategy in the battery industry to manage capital expenditure.

Comparison to Industry Standards

• Amprius's Q2 2026 revenue growth of 126% YoY significantly outpaces the typical growth rates seen in the broader battery manufacturing sector, which can vary widely but often sees more moderate expansion.
• The gross margin improvement to 27% is a positive step, moving towards industry benchmarks for profitable battery production, though some established players may achieve higher margins.
• The company's stated goal of positive non-GAAP Adjusted EBITDA of at least $4 million for FY2026 indicates a move towards profitability, a key metric for investors in the capital-intensive battery industry.
• Competitors like Sila Nanotechnologies and Group14 Technologies are also developing silicon-based anode materials, indicating a competitive landscape focused on next-generation battery performance.

Stakeholder Impact

• Shareholders: Potential for increased value due to strong revenue growth, improved margins, and a raised financial outlook, though net losses persist.
• Customers: Continued supply of advanced silicon anode batteries for drone, e-mobility, aerospace, and defense applications.
• Suppliers: Increased demand for raw materials and components to support higher production volumes.
• Employees: Potential for growth and opportunity as the company scales operations.

Next Steps

• Continue installation activities for the Fremont, California pilot line expansion.
• Expand the network of contract manufacturing partners in South Korea.
• Add pack partners to enhance the ability to scale.
• Continue to execute on the updated 2026 financial outlook.

Key Dates

Recommendation

The company is demonstrating strong top-line growth and improving operational metrics, with a raised outlook. However, it continues to operate at a net loss, and the path to consistent profitability requires further execution. The positive developments warrant a 'hold' rating, with potential for upgrade if profitability trends improve.

Keywords

silicon anode, lithium-ion batteries, revenue growth, gross margin, net loss, adjusted EBITDA, financial results, outlook