Amprius Technologies Reports Preliminary Fourth Quarter and Full Year 2024 Financial Results

Rhea-AI Summary

Amprius Technologies (NYSE: AMPX), a next-generation lithium-ion battery manufacturer, has released preliminary Q4 and full-year 2024 financial results. For Q4 2024, the company expects:

• Revenue between $10.4-10.6 million
• Net loss of $11.4-11.6 million
• Loss per share of $0.10-0.11

For full-year 2024:

• Revenue of $24.0-24.2 million
• Net loss of $44.7-44.9 million
• Loss per share of $0.45-0.46

The company maintains a strong balance sheet with $55.2 million in cash and cash equivalents and no debt. Complete Q4 and full-year results will be reported in late March with a conference call.

Positive

• Strong cash position of $55.2M with no debt
• Q4 revenue growth to $10.4-10.6M

Negative

• Net loss widening to $44.7-44.9M for full year
• Quarterly net loss of $11.4-11.6M in Q4
• Negative EPS of $0.45-0.46 for full year

Insights

Financial Analyst

Amprius Technologies' preliminary Q4 2024 results show $10.4-10.6 million in revenue, representing approximately 43% of their full-year revenue of $24.0-24.2 million. This indicates a substantial revenue concentration in the fourth quarter, suggesting improving commercial traction for their Silicon Anode Platform technology.

However, the company continues to operate with significant losses. Q4 net losses of $11.4-11.6 million and full-year losses of $44.7-44.9 million demonstrate that Amprius remains firmly in growth investment mode. The quarterly loss-to-revenue ratio improved to approximately 1:1 in Q4 compared to the nearly 2:1 ratio for the full year, indicating potentially improving operational efficiency.

The $55.2 million cash position with zero debt provides an important runway for continued operations. Based on the Q4 burn rate, this represents approximately 4-5 quarters of operating capital without additional revenue growth or efficiency improvements.

For a company commercializing next-generation battery technology in capital-intensive markets, maintaining sufficient liquidity without debt is strategically important. The challenge ahead is clear: Amprius must accelerate revenue growth while controlling operational expenses to extend its runway toward profitability before requiring additional capital.

Investors should note that these are preliminary results subject to potential adjustments during the final audit process.

Technology Analyst

Amprius' preliminary financials reveal important dynamics about the commercialization journey of their Silicon Anode Platform technology. The Q4 revenue uptick to $10.4-10.6 million from ~$13.6 million for the first three quarters combined suggests improving market adoption, potentially indicating technology validation with key customers.

The battery industry faces significant commercialization hurdles beyond laboratory success, requiring extensive validation cycles before meaningful revenue scaling. Amprius' quarterly revenue acceleration may signal progression through these validation gates with potential customers.

Silicon anode technology represents a critical pathway for next-generation lithium-ion batteries, offering theoretical energy density improvements of 40-50% over conventional graphite anodes. The company's continued investment despite losses reflects the strategic importance of establishing manufacturing capability and securing market position in this competitive landscape.

The unchanged cash position also suggests improved cash efficiency in operations compared to previous quarters. For deep tech companies in capital-intensive sectors like advanced batteries, managing burn rate while accelerating commercialization represents a delicate balance.

The upcoming full financial report and business update will be important for understanding customer traction, production capacity utilization, and technology performance metrics in real-world applications – factors that ultimately determine long-term value creation in advanced materials and energy storage technology commercialization.

FREMONT, Calif.--(BUSINESS WIRE)-- Amprius Technologies, Inc. ("Amprius" or the "Company"), (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced select preliminary financial results for the quarter and full year ended December 31, 2024.

Q4 2024 Preliminary Financial Results

Based on preliminary unaudited results, management expects the Company to report the following in respect of its quarterly period ended December 31, 2024:

• Revenue of approximately $10.4 million to $10.6 million
• Net loss of approximately $11.4 million to $11.6 million
• Loss per share of approximately $0.10 per share to $0.11 per share

Full Year 2024 Preliminary Financial Results

Based on preliminary unaudited results, management expects the Company to report the following in respect of its annual period ended December 31, 2024:

• Revenue of approximately $24.0 million to $24.2 million
• Net loss of approximately $44.7 million to $44.9 million
• Loss per share of approximately $0.45 per share to $0.46 per share

At December 31, 2024, the Company held cash and cash equivalents of approximately $55.2 million and no debt.

The preliminary financial results discussed in this press release are based on management’s preliminary unaudited analysis of financial results for the quarterly and full year periods ended December 31, 2024. As of the date of this press release, the Company has not completed its financial statement reporting or audit process for the period ended December 31, 2024, and the Company’s independent registered accounting firm has not reviewed or audited the preliminary financial data discussed in this press release. During the course of the Company’s quarter-end and year-end closing procedures and review and audit process, including the finalization of its financial statements for and as of the period ended December 31, 2024, the Company may identify items that would require it to make adjustments, which may be material to the information presented above. As a result, the estimates above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary results.

Conference Call

The Company expects to report its complete fourth quarter and full year 2024 results, including a comprehensive business update, in late March through a letter to shareholders. The letter will be accompanied by a conference call, and a recorded version of the webcast will be available after the call and accessible at ir.amprius.com.

Additional details, including the date and time of the call, will be provided in advance of the event.

About Amprius Technologies, Inc.

Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries, producing the industry’s highest-known energy density cells. The company’s commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500 Wh/kg and 1,300 Wh/L. Amprius expanded its product portfolio to include the SiCore™ platform in 2024, significantly enhancing its ability to serve additional customer applications. The company’s corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into several agreements to secure over 1.8GWh of contract manufacturing capacity available today. For additional information, please visit amprius.com. Also, see the company’s LinkedIn and Twitter pages.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Amprius’ expectations with respect to the company’s financial results and cash position for the quarter and full year ended December 31, 2024. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Amprius’ management and are not predictions of actual performance. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. These forward-looking statements are subject to a number of risks and uncertainties, including changes resulting from Amprius’ finalization of its financial statements for and as of the quarterly and full year periods ended December 31, 2024; information or new changes in facts or circumstances that may occur prior to the filing of the Company’s Annual Report on Form 10-K for the annual period ended December 31, 2024 that are required to be included in such report; changes to Amprius’ liquidity position; risks related to the rollout of Amprius’ business and the timing of expected business milestones; Amprius’ ability to commercially produce high performing batteries; the effects of competition on Amprius’ business; supply shortages in the materials necessary for the production of Amprius’ products; and changes in domestic and foreign business, market, financial, political and legal conditions. For more information on these risks and uncertainties that may impact the operations and projections discussed herein can be found in the documents we filed from time to time with the Securities and Exchange Commission (the “SEC”), all of which are available on the SEC’s website at www.sec.gov. There may be additional risks that Amprius does not presently know or that Amprius currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Amprius’ expectations, plans or forecasts of future events and views as of the date of this press release. These forward-looking statements should not be relied upon as representing Amprius’ assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Except as required by law, Amprius specifically disclaims any obligation to update any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250304925854/en/

Investors

Tom Colton, Greg Bradbury

Gateway Group, Inc.

949-574-3860

IR@amprius.com

Media

Zach Kadletz, Brenlyn Motlagh

Gateway Group, Inc.

949-574-3860

Amprius@gateway-grp.com

Source: Amprius Technologies, Inc.

FAQ

What are Amprius Technologies' (AMPX) Q4 2024 revenue expectations?

Amprius expects Q4 2024 revenue between $10.4-10.6 million.

How much cash does AMPX have on its balance sheet as of December 2024?

Amprius held $55.2 million in cash and cash equivalents with no debt as of December 31, 2024.

What is AMPX's projected net loss for full-year 2024?

Amprius projects a net loss between $44.7-44.9 million for full-year 2024.

When will Amprius (AMPX) release its complete Q4 2024 earnings report?

Amprius will release complete Q4 and full-year 2024 results in late March with a conference call.