Amprius Technologies (AMPX)
Market Price (10/17/2026): $7.75 | Market Cap: $1.1 BilSector: Industrials | Industry: Electrical Components & Equipment
Amprius Technologies (AMPX)
Market Price (10/17/2026): $7.75Market Cap: $1.1 BilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 144% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52% Megatrend and thematic driversMegatrends include Battery Technology & Metals, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Advanced Battery Components, Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -18 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -16% Expensive valuation multiplesP/SPrice/Sales ratio is 10x Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -49%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -54% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.6% High stock price volatilityVol 12M is 101% Key risksAMPX key risks include [1] its challenge to establish supply relationships and develop the high-volume manufacturing lines necessary for mass production, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 144% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52% |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Advanced Battery Components, Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -18 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -16% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 10x |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -49%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -54% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.6% |
| High stock price volatilityVol 12M is 101% |
| Key risksAMPX key risks include [1] its challenge to establish supply relationships and develop the high-volume manufacturing lines necessary for mass production, Show more. |
Qualitative Assessment
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Amprius Technologies (AMPX) stock has lost about 45% since 6/30/2026 because of the following key factors:
1. Amprius Technologies reported a continued net loss in its fiscal second quarter of 2026 and only met analyst expectations for earnings per share. The company announced its fiscal Q2 2026 results on August 3, 2026, reporting an earnings per share (EPS) of -$0.02, which aligned with analysts' consensus estimates. This followed a miss on EPS in fiscal Q1 2026, where the company posted -$0.04 per share against an estimated -$0.02. Despite revenue exceeding expectations in Q1 2026 and projected revenue growth for fiscal Q3 2026 to $35.85 million (up from $21.43 million a year prior), the persistent net losses and merely meeting rather than exceeding EPS expectations may have disappointed investors looking for stronger signs of profitability and accelerated financial performance, contributing to a downward trend in the stock.
2. The broader lithium-ion battery market experienced a decline in cell prices during fiscal Q3 2026. The global battery-cell price benchmark, according to Benchmark Mineral Intelligence's Q3 2026 review, reached $71.85/kWh in September, marking a 6.7% decrease over the quarter. This industry-wide trend of falling battery prices places downward pressure on manufacturers' margins and can negatively impact investor sentiment for companies in the battery sector like Amprius Technologies.
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Amprius Technologies (AMPX) stock has lost about 45% since 6/30/2026 because of the following key factors:
1. Amprius Technologies reported a continued net loss in its fiscal second quarter of 2026 and only met analyst expectations for earnings per share. The company announced its fiscal Q2 2026 results on August 3, 2026, reporting an earnings per share (EPS) of -$0.02, which aligned with analysts' consensus estimates. This followed a miss on EPS in fiscal Q1 2026, where the company posted -$0.04 per share against an estimated -$0.02. Despite revenue exceeding expectations in Q1 2026 and projected revenue growth for fiscal Q3 2026 to $35.85 million (up from $21.43 million a year prior), the persistent net losses and merely meeting rather than exceeding EPS expectations may have disappointed investors looking for stronger signs of profitability and accelerated financial performance, contributing to a downward trend in the stock.
2. The broader lithium-ion battery market experienced a decline in cell prices during fiscal Q3 2026. The global battery-cell price benchmark, according to Benchmark Mineral Intelligence's Q3 2026 review, reached $71.85/kWh in September, marking a 6.7% decrease over the quarter. This industry-wide trend of falling battery prices places downward pressure on manufacturers' margins and can negatively impact investor sentiment for companies in the battery sector like Amprius Technologies.
3. Investor sentiment was likely tempered by the mixed recovery in the Electric Vehicle (EV) market. While U.S. EV sales in fiscal Q3 2026 showed a quarter-over-quarter rebound, reaching the highest volume in a year with 262,649 EVs sold (a 6.1% increase from Q2 2026), these sales were significantly down by 39.5% compared to the record-setting fiscal Q3 2025. The strong performance in Q3 2025 was largely driven by consumers rushing to take advantage of expiring federal incentives. This substantial year-over-year decline, indicative of a "reset phase" in the EV market, likely created caution among investors regarding the growth trajectory of battery technology suppliers.
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Stock Movement Drivers
Fundamental Drivers
The -44.4% change in AMPX stock from 6/30/2026 to 10/16/2026 was primarily driven by a -51.9% change in the company's P/S Multiple.| (LTM values as of) | 6302026 | 10162026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.86 | 7.71 | -44.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 89 | 108 | 21.3% |
| P/S Multiple | 21.3 | 10.2 | -51.9% |
| Shares Outstanding (Mil) | 137 | 143 | -4.5% |
| Cumulative Contribution | -44.4% |
Market Drivers
6/30/2026 to 10/16/2026| Return | Correlation | |
|---|---|---|
| AMPX | -44.4% | |
| Market (SPY) | 2.2% | 58.5% |
| Sector (XLI) | -9.4% | 46.2% |
Fundamental Drivers
The -54.3% change in AMPX stock from 3/31/2026 to 10/16/2026 was primarily driven by a -67.0% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 10162026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.86 | 7.71 | -54.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 72 | 108 | 50.4% |
| P/S Multiple | 31.0 | 10.2 | -67.0% |
| Shares Outstanding (Mil) | 132 | 143 | -7.9% |
| Cumulative Contribution | -54.3% |
Market Drivers
3/31/2026 to 10/16/2026| Return | Correlation | |
|---|---|---|
| AMPX | -54.3% | |
| Market (SPY) | 17.7% | 47.4% |
| Sector (XLI) | 4.0% | 31.8% |
Fundamental Drivers
The -26.7% change in AMPX stock from 9/30/2025 to 10/16/2026 was primarily driven by a -64.7% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 10162026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.52 | 7.71 | -26.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 44 | 108 | 144.4% |
| P/S Multiple | 29.0 | 10.2 | -64.7% |
| Shares Outstanding (Mil) | 122 | 143 | -15.1% |
| Cumulative Contribution | -26.7% |
Market Drivers
9/30/2025 to 10/16/2026| Return | Correlation | |
|---|---|---|
| AMPX | -26.7% | |
| Market (SPY) | 15.5% | 44.7% |
| Sector (XLI) | 9.7% | 34.4% |
Fundamental Drivers
The 62.7% change in AMPX stock from 9/30/2023 to 10/16/2026 was primarily driven by a 2387.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10162026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.74 | 7.71 | 62.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 108 | 2387.4% |
| P/S Multiple | 91.8 | 10.2 | -88.9% |
| Shares Outstanding (Mil) | 84 | 143 | -41.3% |
| Cumulative Contribution | 62.7% |
Market Drivers
9/30/2023 to 10/16/2026| Return | Correlation | |
|---|---|---|
| AMPX | 62.7% | |
| Market (SPY) | 84.7% | 32.7% |
| Sector (XLI) | 72.1% | 30.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AMPX Return | - | -21% | -33% | -47% | 182% | 6% | -16% |
| Peers Return | 37% | -16% | 106% | 89% | 33% | 32% | 685% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| AMPX Win Rate | - | 25% | 42% | 33% | 67% | 40% | |
| Peers Win Rate | 58% | 38% | 60% | 71% | 56% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| AMPX Max Drawdown | - | - | -74% | -87% | -54% | -65% | |
| Peers Max Drawdown | -26% | -44% | -30% | -30% | -46% | -43% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: POWL, FPS, RFIL, ETN, VRT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/16/2026 (YTD)
How Low Can It Go
| Event | AMPX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.0% | -18.8% |
| % Gain to Breakeven | 88.8% | 23.1% |
| Time to Breakeven | 93 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -18.1% | -7.8% |
| % Gain to Breakeven | 22.1% | 8.5% |
| Time to Breakeven | 56 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -63.7% | -9.5% |
| % Gain to Breakeven | 175.3% | 10.5% |
| Time to Breakeven | 630 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.1% | -6.7% |
| % Gain to Breakeven | 35.3% | 7.1% |
| Time to Breakeven | 3 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.0% | -24.5% |
| % Gain to Breakeven | 69.5% | 32.4% |
| Time to Breakeven | 1 days | 427 days |
In The Past
Amprius Technologies's stock fell -47.0% during the 2025 US Tariff Shock. Such a loss loss requires a 88.8% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | AMPX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.0% | -18.8% |
| % Gain to Breakeven | 88.8% | 23.1% |
| Time to Breakeven | 93 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -63.7% | -9.5% |
| % Gain to Breakeven | 175.3% | 10.5% |
| Time to Breakeven | 630 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.1% | -6.7% |
| % Gain to Breakeven | 35.3% | 7.1% |
| Time to Breakeven | 3 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.0% | -24.5% |
| % Gain to Breakeven | 69.5% | 32.4% |
| Time to Breakeven | 1 days | 427 days |
In The Past
Amprius Technologies's stock fell -47.0% during the 2025 US Tariff Shock. Such a loss loss requires a 88.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Amprius Technologies (AMPX)
Amprius Technologies (AMPX) operates as a newly organized blank check company, commonly known as a Special Purpose Acquisition Company (SPAC). Its primary business objective is to effectuate an initial business combination, which can include a merger, share exchange, asset acquisition, or reorganization with one or more existing operating businesses. As such, the company itself does not currently offer any products or services, nor has it selected a specific target for acquisition.
The company intends to focus its search for a business combination target within the global automotive and automotive-related sector. It aims to leverage its management team's extensive network of contacts, including business owners, executives, and investors within this industry, to identify promising acquisition opportunities. The overarching goal is to complete a strategic merger or acquisition that will drive value creation for its shareholders.
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- It's like a publicly traded "empty shell" company, whose only job is to find and acquire one private business in the automotive sector to bring to the stock market.
- Think of it as a "blank check" on the stock market, specifically raised to buy a private company from the car industry and take it public.
- It's essentially a specialized "treasure hunt" on the stock market, where the treasure is a private automotive company it aims to acquire and make public.
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- Initial Business Combination: The company's primary activity is to identify and complete a merger, share exchange, asset acquisition, or similar business combination with one or more businesses, primarily in the global automotive and automotive-related sector.
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Based on the provided description, Amprius Technologies (AMPX) is a Special Purpose Acquisition Company (SPAC). A SPAC is a blank check company formed for the purpose of acquiring an existing private company, thereby taking it public.
As such, Amprius Technologies (AMPX) does not currently have major customers as it does not sell products or services to other companies or individuals.
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Tom Stepien, Chief Executive Officer
Appointed CEO of Amprius Technologies in January 2026, Tom Stepien previously served as the company's President from May 2025. He possesses over 35 years of leadership experience spanning energy storage, advanced manufacturing, and technology innovation. Prior to Amprius, Stepien was CEO of South 8 Technologies, where he led the commercialization of liquefied gas electrolytes for lithium-ion batteries. He also served as an Operating Partner at KCK Group, a private equity firm focused on industrial technologies, and co-founded and led Primus Power, a long-duration stationary energy storage company. Stepien held various leadership roles at Applied Materials for over a decade.
Ricardo C. Rodriguez, Chief Financial Officer
Ricardo C. Rodriguez was appointed Chief Financial Officer of Amprius Technologies in October 2025. He brings over two decades of leadership experience in finance, strategy, and operations across the automotive, mobility, and technology sectors. Before joining Amprius, Rodriguez served as CFO and Treasurer of Aspen Aerogels, Inc., a publicly traded advanced materials company, where he helped raise growth capital and expand operations. He also held the position of Chief Strategy Officer at Aspen Aerogels. From February 2019 to November 2021, he was a Corporate Strategy Director at Aptiv, a global automotive technology company, where he established the Vehicle Electrification Systems group. Rodriguez began his career in investment banking at Lazard, specializing in automotive mergers and acquisitions.
C. Ionel Stefan, Chief Technology Officer
C. Ionel Stefan serves as the Chief Technology Officer at Amprius Technologies.
Ronnie Tao, Vice President of Sales
Ronnie Tao leads Amprius Technologies' global efforts to deliver its silicon-anode batteries to customers. With over 14 years of experience in the battery industry across Asia, Europe, and North America, he is recognized for opening new markets, scaling customer partnerships, and delivering cutting-edge electrification solutions.
Mr. Bakke, General Manager - US Operations
Mr. Bakke oversees Amprius Technologies' domestic manufacturing and operational strategy. He has extensive expertise in quality systems and manufacturing, with significant experience in the automotive and aerospace sectors. Mr. Bakke is known for driving operational excellence and has led successful initiatives in lean manufacturing, ERP deployment, supply chain optimization, and quality assurance.
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The key risk to Amprius Technologies, as described in the background, is its inability to complete an initial business combination. As a newly organized, blank check company, its entire purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The background explicitly states that the company has not yet selected any business combination target and has not initiated any substantive discussions, directly or indirectly, with any potential target. The failure to identify a suitable target and successfully complete such a transaction within its operational timeframe would fundamentally undermine its stated purpose and viability.
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- Broad Adoption of Silicon Anode Batteries: The increasing demand and adoption of Amprius's proprietary silicon anode batteries, particularly its second-generation SiCore platform, are expected to significantly contribute to revenue growth. These batteries offer superior energy density, enabling extended flight times and increased payload capacity for applications in aviation, such as drones and high-altitude pseudo satellites, which is a key performance differentiator for customers.
- Expansion of Customer Base and New Program Wins: Amprius has demonstrated substantial growth in its customer base, expanding to over 550 customers in 2025 and securing new customer wins like Nokia Drone Networks. Continued growth from both existing clients and new program acquisitions across various end markets, including aviation, electric vehicles, and light electric vehicles, is projected to drive further revenue increases.
- Strategic Manufacturing Expansion and Partnerships: The company is actively expanding its global contract manufacturing network, including new partnerships in South Korea and a strategic U.S.-based manufacturing collaboration with Nanotech Energy. This expansion, which has secured over 2.0 GWh of worldwide contract manufacturing capacity, is crucial for scaling production, meeting accelerating market demand, and ensuring compliance with regulations like the U.S. National Defense Authorization Act (NDAA) for defense and aerospace customers.
- Product Innovation and Development for Emerging Markets: Amprius is focused on developing advanced battery technologies for new applications and markets. This includes the development of a large format 500 watt-hour per kilogram battery cell in collaboration with AeroVironment, expected to be completed in 2025, and agreements with Fortune 500 companies to develop high energy cycle cells for the light electric vehicle market. These innovations are anticipated to unlock new revenue streams.
- Government Contracts and NDAA Compliance: Securing and fulfilling government contracts, such as the Defense Innovation Unit (DIU) contract for prototyping NDAA-compliant SiCore pouch cells for military unmanned autonomous systems, is a significant revenue driver. The company's full compliance with NDAA requirements positions it for accelerated business with defense and critical infrastructure customers.
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Share Issuance
- Amprius Technologies completed an at-the-market (ATM) equity offering program, authorized for up to $100.0 million, under which it issued 25.5 million shares of common stock, generating approximately $97.5 million in net proceeds.
- During the three months ended December 31, 2025, the company raised approximately $19.6 million in net proceeds from the ATM program at an average price of $11.17 per share, at which point the program was terminated.
- The number of outstanding shares increased from 84.47 million in 2022 to 110.57 million in 2024 and 130.48 million in 2025, reaching 134.5 million by the end of 2025.
Inbound Investments
- The business combination with Kensington Capital Acquisition Corp. IV (SPAC) on September 14, 2022, resulted in gross proceeds of approximately $87 million for Amprius.
- These initial proceeds from the SPAC merger were intended to support the construction of the company's gigawatt-hour scale manufacturing facility.
- A $14.8 million contract from the Defense Intelligence Unit (DIU) is expected to largely fund capital expenditures for 2026.
Capital Expenditures
- Capital expenditures in Q4 2025 were $2.4 million, representing a 469.3% increase from the prior quarter, focused on long-term assets and infrastructure.
- Total capital expenditures were $3.207 million in 2023, $3.064 million in 2024, and $4.2 million in 2025.
- Expected capital expenditures for 2026 are under $10.0 million, with a primary focus supported by a $14.8 million DIU contract as the company transitions to a "capital-light manufacturing model."
Peer Outperformance in Electrical Components & Equipment
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 30 | -2.7% | 102.0% | 168.1% | STRL 1737% · FIX 1727% · AGX 752% |
| Marine Transportation | 5 | 61.0% | 45.8% | 139.2% | MATX 202% · KEX 150% |
| Construction Machinery & Heavy Transportation Equipment | 13 | -5.2% | 45.5% | 88.5% | CAT 300% · ALSN 243% · WAB 221% |
| Aerospace & Defense | 51 | -10.7% | 55.6% | 66.8% | ATI 980% · FTAI 798% · HWM 616% |
| Trading Companies & Distributors | 19 | 7.9% | 29.2% | 43.3% | DXPE 445% · AIT 261% · URI 206% |
| Industrial Machinery & Supplies & Components | 72 | 8.8% | 45.0% | 38.8% | CRS 1086% · MLI 493% · SYM 293% |
| Rail Transportation | 7 | 29.0% | 61.8% | 37.4% | CSX 52% · UNP 44% · NSC 32% |
| Diversified Support Services | 34 | 9.8% | 25.6% | 27.3% | CXW 226% · OPLN 136% · CACI 118% |
| Cargo Ground Transportation | 16 | 34.4% | 0.9% | 26.5% | XPO 282% · R 221% · ARCB 56% |
| Building Products | 33 | -10.5% | 8.3% | 18.9% | GFF 333% · TT 181% · JCI 125% |
| Electrical Components & Equipment ← | 38 | -11.7% | 54.1% | 12.4% | POWL 1905% · BE 947% · VRT 805% |
| Industrial Conglomerates | 17 | 11.5% | 2.3% | -3.8% | CSW 115% · DD 66% · CSL 62% |
| Environmental & Facilities Services | 30 | -31.7% | 21.5% | -11.3% | CECO 702% · GEO 245% · CLH 197% |
| Agricultural & Farm Machinery | 17 | 1.4% | -9.3% | -13.1% | DE 106% · TTC 12% · AGCO -6% |
| Research & Consulting Services | 13 | -2.1% | -20.1% | -15.3% | HURN 241% · FCN 3% · BAH 1% |
| Data Processing & Outsourced Services | 6 | -23.1% | -7.7% | -21.1% | EXLS 59% · BR 7% · G -19% |
| Office Services & Supplies | 9 | 16.9% | 18.5% | -23.0% | PBI 192% · TILE 144% · HNI 44% |
| Security & Alarm Services | 9 | -56.3% | 10.8% | -25.8% | BCO 79% |
| Passenger Ground Transportation | 3 | -24.0% | 55.5% | -28.3% | UBER 45% · CAR -28% · LYFT -67% |
| Air Freight & Logistics | 11 | -26.7% | -20.5% | -35.7% | EXPD 79% · FDX 77% · CHRW 66% |
| Passenger Airlines | 11 | -1.1% | 3.1% | -39.2% | LTM 2999% · UAL 100% · DAL 91% |
| Human Resource & Employment Services | 22 | 12.4% | -22.1% | -41.7% | ADP 52% · PAYX 9% · FA 3% |
| Airport Services | 4 | -71.0% | -70.1% | -82.1% | JOBY -46% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Amprius (+9.7%): Strong 2026 Guidance and Analyst PT Hike Drive Stock | 03/07/2026 | |
| Amprius (AMPX) +8.0%: Q4 EPS Beats Estimates by 50% | 03/03/2026 | |
| Amprius Technologies Stock Dips 14% In One Week, Now Is Not The Time To Buy The Stock | 12/18/2025 | |
| Amprius Technologies Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 97.56 |
| Mkt Cap | 8.1 |
| Rev LTM | 1,420 |
| Op Inc LTM | 228 |
| FCF LTM | 244 |
| FCF 3Y Avg | 939 |
| CFO LTM | 256 |
| CFO 3Y Avg | 1,076 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 26.2% |
| Rev Chg 3Y Avg | 21.9% |
| Rev Chg Q | 24.1% |
| QoQ Delta Rev Chg LTM | 5.9% |
| Op Inc Chg LTM | 40.6% |
| Op Inc Chg 3Y Avg | 35.4% |
| Op Mgn LTM | 17.7% |
| Op Mgn 3Y Avg | 17.7% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 16.5% |
| CFO/Rev 3Y Avg | 16.6% |
| FCF/Rev LTM | 13.1% |
| FCF/Rev 3Y Avg | 14.4% |
Price Behavior
| Market Price | $7.71 | |
| Market Cap ($ Bil) | 1.1 | |
| First Trading Date | 09/15/2022 | |
| Distance from 52W High | -66.3% | |
| 50 Days | 200 Days | |
| DMA Price | $9.92 | $13.45 |
| DMA Trend | down | indeterminate |
| Distance from DMA | -22.3% | -42.7% |
| 3M | 1YR | |
| Volatility | 69.7% | 100.9% |
| Downside Capture | 384.73 | 444.48 |
| Upside Capture | 217.45 | 308.23 |
| Correlation (S&P 500) | 53.7% | 43.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.68 | 2.97 | 3.90 | 3.54 | 3.50 | 2.40 |
| Up Beta | 1.80 | 2.60 | 4.79 | 1.94 | 2.63 | 2.09 |
| Down Beta | 5.36 | 6.79 | 3.61 | 3.59 | 2.64 | 2.12 |
| Up Capture | 125% | 280% | 318% | 462% | 1770% | 7501% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 9 | 20 | 29 | 62 | 128 | 350 |
| Down Capture | 139% | 273% | 382% | 322% | 189% | 113% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 13 | 22 | 35 | 64 | 124 | 383 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AMPX | |
|---|---|---|---|---|
| AMPX | -47.4% | 100.9% | -0.17 | - |
| Sector ETF (XLI) | 10.9% | 17.2% | 0.43 | 34.9% |
| Equity (SPY) | 15.8% | 12.7% | 0.86 | 44.2% |
| Gold (GLD) | -1.4% | 29.4% | -0.05 | 31.7% |
| Commodities (DBC) | 50.4% | 20.7% | 1.86 | 14.7% |
| Real Estate (VNQ) | 4.8% | 13.7% | 0.09 | -0.3% |
| Bitcoin (BTCUSD) | -25.9% | 43.6% | -0.57 | 30.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AMPX | |
|---|---|---|---|---|
| AMPX | -7.3% | 125.2% | 0.46 | - |
| Sector ETF (XLI) | 12.3% | 17.6% | 0.53 | 21.2% |
| Equity (SPY) | 13.2% | 17.1% | 0.59 | 23.2% |
| Gold (GLD) | 18.4% | 18.9% | 0.79 | 9.0% |
| Commodities (DBC) | 9.6% | 19.5% | 0.37 | 8.5% |
| Real Estate (VNQ) | 1.6% | 18.8% | -0.02 | 2.5% |
| Bitcoin (BTCUSD) | 8.8% | 51.8% | 0.35 | 13.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AMPX | |
|---|---|---|---|---|
| AMPX | -3.7% | 125.2% | 0.46 | - |
| Sector ETF (XLI) | 13.0% | 20.0% | 0.57 | 21.2% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 23.2% |
| Gold (GLD) | 12.3% | 16.4% | 0.61 | 9.0% |
| Commodities (DBC) | 8.1% | 18.1% | 0.36 | 8.5% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 2.5% |
| Bitcoin (BTCUSD) | 63.2% | 66.2% | 1.03 | 13.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/28/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | 8.4% | 11.7% | -11.9% |
| 5/6/2026 | -27.4% | -21.0% | -11.3% |
| 3/4/2026 | 18.6% | 48.1% | 27.5% |
| 11/6/2025 | 13.1% | 4.1% | 3.9% |
| 8/7/2025 | 4.4% | -3.6% | -0.4% |
| 5/8/2025 | -0.8% | 9.6% | 26.5% |
| 3/4/2025 | -6.8% | -19.8% | 24.3% |
| 10/29/2024 | 7.9% | -14.4% | 42.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 6 | 8 |
| # Negative | 9 | 10 | 8 |
| Median Positive | 8.4% | 12.1% | 25.4% |
| Median Negative | -6.8% | -12.4% | -35.1% |
| Max Positive | 18.6% | 48.1% | 46.5% |
| Max Negative | -27.4% | -41.4% | -46.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | 8.4% | 11.7% | -11.9% |
| 5/6/2026 | -27.4% | -21.0% | -11.3% |
| 3/4/2026 | 18.6% | 48.1% | 27.5% |
| 11/6/2025 | 13.1% | 4.1% | 3.9% |
| 8/7/2025 | 4.4% | -3.6% | -0.4% |
| 5/8/2025 | -0.8% | 9.6% | 26.5% |
| 3/4/2025 | -6.8% | -19.8% | 24.3% |
| 10/29/2024 | 7.9% | -14.4% | 42.4% |
| 8/8/2024 | -9.9% | -8.3% | -37.6% |
| 5/9/2024 | -11.3% | -41.4% | -40.5% |
| 3/21/2024 | -6.8% | -10.5% | -42.9% |
| 11/9/2023 | 17.6% | 31.9% | 46.5% |
| 8/10/2023 | -8.9% | -15.1% | -46.9% |
| 5/10/2023 | -2.1% | -4.7% | 6.3% |
| 3/23/2023 | -2.0% | 12.4% | 22.9% |
| 11/10/2022 | 4.2% | -2.3% | -32.7% |
| SUMMARY STATS | |||
| # Positive | 7 | 6 | 8 |
| # Negative | 9 | 10 | 8 |
| Median Positive | 8.4% | 12.1% | 25.4% |
| Median Negative | -6.8% | -12.4% | -35.1% |
| Max Positive | 18.6% | 48.1% | 46.5% |
| Max Negative | -27.4% | -41.4% | -46.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/06/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/20/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/06/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/20/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 03/31/2022 | 06/21/2022 | S-4 |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Loss | Reported | -10.00 Mil | Lowered | Guidance: -8.00 Mil for 2026 | ||||
| 2026 Net Loss Per Share | Reported | -0.08 | Lowered | Guidance: -0.06 for 2026 | ||||
| 2026 Revenue | Reported | 140.00 Mil | 7.7% | Raised | Guidance: 130.00 Mil for 2026 | |||
| 2026 Gross Profit | Calculated | 39.20 Mil | 39.20 Mil | 39.20 Mil | Rev x Gross Margin | |||
| 2026 Gross Margin | Reported | 28.0% | 3.0% | Raised | Guidance: 25.0% for 2026 | |||
| 2026 Adjusted EBITDA | Reported | 4.00 Mil | 0 | Affirmed | Guidance: 4.00 Mil for 2026 | |||
| 2026 Capital Expenditure | Reported | 10.00 Mil | 0 | Affirmed | Guidance: 10.00 Mil for 2026 | |||
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Loss | Reported | -8.00 Mil | Affirmed | Guidance: -8.00 Mil for 2026 | ||||
| 2026 Net Loss Per Share | Reported | -0.06 | Affirmed | Guidance: -0.06 for 2026 | ||||
| 2026 Revenue | Reported | 130.00 Mil | 4.0% | Raised | Guidance: 125.00 Mil for 2026 | |||
| 2026 Adjusted EBITDA | Reported | 4.00 Mil | Affirmed | Guidance: 4.00 Mil for 2026 | ||||
| 2026 Capital Expenditure | Reported | 10.00 Mil | Affirmed | Guidance: 10.00 Mil for 2026 | ||||
Insider Activity
Updated 8/25/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Stepien, Thomas M | Chief Executive Officer | Direct | Sell | 8252026 | 10.03 | 8,000 | 80,240 | 5,958,783 | Form |
| 2 | Sun, Kang | Direct | Sell | 8252026 | 10.34 | 62,101 | 642,186 | 12,599,443 | Form | |
| 3 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 8252026 | 10.34 | 29,681 | 306,931 | 7,979,415 | Form |
| 4 | Stepien, Thomas M | Chief Executive Officer | Direct | Sell | 8252026 | 10.34 | 23,529 | 243,313 | 6,226,275 | Form |
| 5 | Dixon, Donald R | See Footnote | Sell | 6162026 | 17.17 | 85,000 | 1,459,212 | 6,169,548 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Stepien, Thomas M | Chief Executive Officer | Direct | Sell | 8252026 | 10.03 | 8,000 | 80,240 | 5,958,783 | Form |
| 2 | Sun, Kang | Direct | Sell | 8252026 | 10.34 | 62,101 | 642,186 | 12,599,443 | Form | |
| 3 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 8252026 | 10.34 | 29,681 | 306,931 | 7,979,415 | Form |
| 4 | Stepien, Thomas M | Chief Executive Officer | Direct | Sell | 8252026 | 10.34 | 23,529 | 243,313 | 6,226,275 | Form |
| 5 | Dixon, Donald R | See Footnote | Sell | 6162026 | 17.17 | 85,000 | 1,459,212 | 6,169,548 | Form | |
| 6 | Dixon, Donald R | See Footnote | Sell | 6112026 | 19.13 | 40,000 | 765,200 | 8,500,989 | Form | |
| 7 | Stepien, Thomas M | Chief Executive Officer | Direct | Sell | 6052026 | 20.97 | 2,000 | 41,940 | 13,119,356 | Form |
| 8 | Sun, Kang | Direct | Sell | 5282026 | 17.19 | 356 | 6,121 | 22,016,242 | Form | |
| 9 | Stepien, Thomas M | Chief Executive Officer | Direct | Sell | 5282026 | 17.19 | 4,375 | 75,222 | 11,948,159 | Form |
| 10 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 5282026 | 17.19 | 3,208 | 55,157 | 13,777,323 | Form |
| 11 | Dixon, Donald R | See Footnote | Sell | 5282026 | 17.90 | 17,895 | 320,252 | 8,668,561 | Form | |
| 12 | Sun, Kang | Direct | Sell | 5262026 | 14.79 | 67,796 | 1,002,594 | 18,941,781 | Form | |
| 13 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 5262026 | 14.79 | 28,812 | 426,083 | 11,897,534 | Form |
| 14 | Stepien, Thomas M | Chief Executive Officer | Direct | Sell | 5262026 | 14.79 | 60,702 | 897,685 | 10,341,499 | Form |
| 15 | Sun, Kang | Direct | Sell | 4022026 | 15.91 | 1,500,000 | 23,860,714 | 21,353,748 | Form | |
| 16 | Sun, Kang | See Footnote | Sell | 3242026 | 18.80 | 217,869 | 4,095,402 | 1,060,294 | Form | |
| 17 | Chu, Steven | Direct | Sell | 3122026 | 18.50 | 155,565 | 2,878,555 | 2,356,265 | Form | |
| 18 | Chu, Steven | Direct | Sell | 3122026 | 17.92 | 166,632 | 2,985,429 | 2,281,444 | Form | |
| 19 | Sun, Kang | Direct | Sell | 2242026 | 10.16 | 61,251 | 622,035 | 13,632,743 | Form | |
| 20 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 2242026 | 10.16 | 25,366 | 257,604 | 7,345,778 | Form |
| 21 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 1302026 | 12.00 | 39,690 | 476,351 | 8,985,700 | Form |
| 22 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 1232026 | 12.00 | 1,600 | 19,200 | 8,984,352 | Form |
| 23 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 1232026 | 12.04 | 492,827 | 5,931,912 | 9,011,679 | Form |
| 24 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 1232026 | 12.00 | 73,280 | 879,411 | 8,984,876 | Form |
| 25 | Sun, Kang | Direct | Sell | 1202026 | 11.03 | 43,185 | 476,274 | 15,480,446 | Form | |
| 26 | Sun, Kang | Direct | Sell | 1202026 | 11.07 | 950,548 | 10,518,669 | 15,532,662 | Form | |
| 27 | Sun, Kang | Direct | Sell | 1142026 | 10.10 | 506,267 | 5,111,474 | 14,171,822 | Form | |
| 28 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 12152025 | 10.51 | 198,255 | 2,083,382 | 7,867,747 | Form |
| 29 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 11252025 | 10.08 | 25,024 | 252,274 | 8,286,335 | Form |
| 30 | Sun, Kang | Chief Executive Officer | Direct | Sell | 11252025 | 10.08 | 68,655 | 692,132 | 14,150,627 | Form |
| 31 | Sun, Kang | Chief Executive Officer | Direct | Sell | 11192025 | 10.60 | 1,000,000 | 10,595,300 | 15,599,524 | Form |
| 32 | Stefan, Constantin Ionel | Chief Technology Officer | Direct | Sell | 8252025 | 6.82 | 19,159 | 130,592 | 5,773,151 | Form |
| 33 | Wallach, Sandra | Chief Financial Officer | Direct | Sell | 8252025 | 6.82 | 28,390 | 193,512 | 6,852,155 | Form |
| 34 | Sun, Kang | Chief Executive Officer | Direct | Sell | 8252025 | 6.82 | 65,654 | 447,511 | 10,035,532 | Form |
Investor Activity (13F)
Updated Oct 17, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Amprius Technologies — Investor Video Playlist




Industry Resources
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