Overview

• Silicon battery maker's Q1 2026 revenue more than doubles yr/yr to $28.5 mln

• Net loss narrows 46% yr/yr to $5.0 mln, gross margin improves to 20%

• Company raises 2026 revenue outlook to at least $130 mln on increased demand

Outlook

• Amprius raises 2026 revenue outlook to at least $130 mln

• Company reiterates 2026 net loss target below $8 mln and adjusted EBITDA of at least $4 mln

• Amprius expects capital expenditure for 2026 to be under $10 mln

Result Drivers

• CUSTOMER EXPANSION - Co said Q1 revenue growth reflects deeper relationships with existing drone customers and entry into new end markets

• ELECTRIC MOBILITY ORDER - $21 mln purchase order from new electric mobility customer in China contributed to expanding commercial reach

• DEFENSE CONTRACTS - New orders from U.S. defense customers and expanded DIU contract boosted visibility into future sales

Company press release: ID:nBw9ZgwvMa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$5 mln
Q1 Gross Margin		20.00%

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electrical components & equipment peer group is "buy"

• Wall Street's median 12-month price target for Amprius Technologies Inc is $20.00, about 6.5% below its May 5 closing price of $21.40

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