Investment Thesis
Amprius is a heavily loss-making company with severe operational inefficiency, burning $35.5M in free cash flow annually despite generating $73M in revenue. While the company maintains a strong cash position of $90.5M, it lacks profitability pathway visibility with negative 60% net margins and operating losses that consume 64% of revenues. At current burn rates, the cash runway extends 2-3 years, making this a high-risk, pre-profitability stage company with unproven business model economics.
AMPX-WT Strengths
- Strong liquidity position with $90.5M cash and 7.08x current ratio provides operational runway
- Zero long-term debt eliminates near-term refinancing risk and financial distress concerns
- Modest revenue growth at 1.5% YoY shows market engagement, albeit minimal expansion
AMPX-WT Risks
- Severe cash burn of $35.5M annually with negative free cash flow and operating cash flow deterioration threatens long-term viability
- Profoundly negative margins (net: -60.3%, operating: -63.9%) indicate fundamental operational inefficiency and inability to scale profitably
- Gross margin of only 11.3% suggests poor unit economics or high production costs, limiting path to profitability without significant operational restructuring
Key Metrics to Watch
- Operating cash flow trend and monthly burn rate trajectory
- Gross margin expansion and cost per unit economics
- Path to positive operating income and timeline to cash flow breakeven
AMPX-WT Financial Metrics
AMPX-WT Profitability Ratios
AMPX-WT Balance Sheet & Liquidity
AMPX-WT 5-Year Financial Trend
5-Year Trend Summary: Amprius Technologies, Inc.'s revenue has grown significantly by 205% over the 5-year period, indicating strong business expansion. The most recent EPS of $-0.45 indicates the company is currently unprofitable.
AMPX-WT Growth Metrics (YoY)
AMPX-WT Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $7.9M | -$3.9M | $-0.03 |
| Q2 2025 | $3.3M | -$6.4M | $-0.05 |
| Q1 2025 | $2.3M | -$9.4M | $-0.08 |
| Q3 2024 | $2.8M | -$8.5M | $-0.10 |
| Q2 2024 | $1.6M | -$9.1M | $-0.11 |
| Q1 2024 | $679.0K | -$9.1M | $-0.11 |
| Q3 2023 | $816.0K | -$2.9M | $-0.06 |
| Q2 2023 | $691.0K | -$2.9M | $-0.06 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
AMPX-WT Capital Allocation
AMPX-WT SEC Filings
Access official SEC EDGAR filings for Amprius Technologies, Inc. (CIK: 0001899287)