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): $7.75
Market Cap: $1.1 Bil
Sector: Industrials
Industry: Electrical Components & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 144%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52%

Megatrend and thematic drivers
Megatrends include Battery Technology & Metals, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Advanced Battery Components, Show more.

Meaningful short interest
Short 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 level
Op 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 multiples
P/SPrice/Sales ratio is 10x

Not cash flow generative
CFO/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 negative
ERPEquity 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 volatility
Vol 12M is 101%

Key risks
AMPX key risks include [1] its challenge to establish supply relationships and develop the high-volume manufacturing lines necessary for mass production, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 144%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52%
2 Megatrend and thematic drivers
Megatrends include Battery Technology & Metals, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Advanced Battery Components, Show more.
3 Meaningful short interest
Short 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%
4 Not profitable at operating income level
Op 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%
5 Expensive valuation multiples
P/SPrice/Sales ratio is 10x
6 Not cash flow generative
CFO/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%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.6%
8 High stock price volatility
Vol 12M is 101%
9 Key risks
AMPX key risks include [1] its challenge to establish supply relationships and develop the high-volume manufacturing lines necessary for mass production, Show more.

AMPX in ETFs

Weight = AMPX's share of each fund

VTI0.00%
ITOT0.00%
IWM0.04%
IWO0.09%
ESML0.04%
VTWO0.04%
SCHA0.03%
SCHB0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/14/2026

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.

Show more
Updated on 10/14/2026

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)630202610162026Change
Stock Price ($)13.867.71-44.4%
Change Contribution By: 
Total Revenues ($ Mil)8910821.3%
P/S Multiple21.310.2-51.9%
Shares Outstanding (Mil)137143-4.5%
Cumulative Contribution-44.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/16/2026
ReturnCorrelation
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)331202610162026Change
Stock Price ($)16.867.71-54.3%
Change Contribution By: 
Total Revenues ($ Mil)7210850.4%
P/S Multiple31.010.2-67.0%
Shares Outstanding (Mil)132143-7.9%
Cumulative Contribution-54.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/16/2026
ReturnCorrelation
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)930202510162026Change
Stock Price ($)10.527.71-26.7%
Change Contribution By: 
Total Revenues ($ Mil)44108144.4%
P/S Multiple29.010.2-64.7%
Shares Outstanding (Mil)122143-15.1%
Cumulative Contribution-26.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/16/2026
ReturnCorrelation
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)930202310162026Change
Stock Price ($)4.747.7162.7%
Change Contribution By: 
Total Revenues ($ Mil)41082387.4%
P/S Multiple91.810.2-88.9%
Shares Outstanding (Mil)84143-41.3%
Cumulative Contribution62.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/16/2026
ReturnCorrelation
AMPX62.7% 
Market (SPY)84.7%32.7%
Sector (XLI)72.1%30.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
AMPX Return--21%-33%-47%182%6%-16%
Peers Return37%-16%106%89%33%32%685%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
AMPX Win Rate-25%42%33%67%40% 
Peers Win Rate58%38%60%71%56%55% 
S&P 500 Win Rate75%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

EventAMPXS&P 500
2025 US Tariff Shock
  % Loss-47.0%-18.8%
  % Gain to Breakeven88.8%23.1%
  Time to Breakeven93 days79 days
2024 Yen Carry Trade Unwind
  % Loss-18.1%-7.8%
  % Gain to Breakeven22.1%8.5%
  Time to Breakeven56 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-63.7%-9.5%
  % Gain to Breakeven175.3%10.5%
  Time to Breakeven630 days24 days
2023 SVB Regional Banking Crisis
  % Loss-26.1%-6.7%
  % Gain to Breakeven35.3%7.1%
  Time to Breakeven3 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-41.0%-24.5%
  % Gain to Breakeven69.5%32.4%
  Time to Breakeven1 days427 days

Compare to POWL, FPS, RFIL, ETN, VRT

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.

EventAMPXS&P 500
2025 US Tariff Shock
  % Loss-47.0%-18.8%
  % Gain to Breakeven88.8%23.1%
  Time to Breakeven93 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-63.7%-9.5%
  % Gain to Breakeven175.3%10.5%
  Time to Breakeven630 days24 days
2023 SVB Regional Banking Crisis
  % Loss-26.1%-6.7%
  % Gain to Breakeven35.3%7.1%
  Time to Breakeven3 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-41.0%-24.5%
  % Gain to Breakeven69.5%32.4%
  Time to Breakeven1 days427 days

Compare to POWL, FPS, RFIL, ETN, VRT

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.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Amprius Technologies (AMPX) as a blank check company, based on the provided background:
  1. 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.
  2. 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.
  3. 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.

AI Analysis | Feedback

  • 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.

AI Analysis | Feedback

Based on the provided background description, Amprius Technologies (AMPX) is a newly organized, blank check company (a Special Purpose Acquisition Company or SPAC). Its sole purpose is to effect a business combination with one or more existing businesses. As a SPAC, the company does not currently operate a business that sells products or services to other companies or individuals. Therefore, it does not have major customers in the traditional sense.

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.

AI Analysis | Feedback

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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.

AI Analysis | Feedback

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.

AI Analysis | Feedback

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AI Analysis | Feedback

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AI Analysis | Feedback

Amprius Technologies (AMPX) anticipates several key drivers for its future revenue growth over the next two to three years:
  • 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.

AI Analysis | Feedback

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."

Better Bets vs. Amprius Technologies (AMPX)

Peer Outperformance in Electrical Components & Equipment

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Share of Electrical Components & Equipment constituents that AMPX has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
33%
of 45 industry peers · -39.7% return
3Y
71%
of 42 industry peers · 123.5% return
5Y
—
insufficient peer history
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Median price return by industry across the Industrials sector, ranked by 5Y. Electrical Components & Equipment is AMPX's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y 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%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

AMPXPOWLFPSRFILETNVRTMedian
NameAmprius .Powell I.Forgent .RF Indus.Eaton Vertiv  
Mkt Price7.75163.8131.326.99388.41205.0097.56
Mkt Cap1.16.08.1-150.978.88.1
Rev LTM1081,1581,420-30,02511,4801,420
Op Inc LTM-18228179-5,3172,227228
FCF LTM-58244-7-3,9342,924244
FCF 3Y Avg-49170--3,4091,709939
CFO LTM-53256109-4,9503,354256
CFO 3Y Avg-39183--4,2911,9681,076

Growth & Margins

AMPXPOWLFPSRFILETNVRTMedian
NameAmprius .Powell I.Forgent .RF Indus.Eaton Vertiv  
Rev Chg LTM144.4%7.0%88.5%-15.5%26.2%26.2%
Rev Chg 3Y Avg219.1%22.0%--10.9%21.7%21.9%
Rev Chg Q125.9%8.9%94.3%-21.4%24.1%24.1%
QoQ Delta Rev Chg LTM21.3%2.2%18.7%-5.3%5.9%5.9%
Op Inc Chg LTM52.7%8.0%147.1%-8.7%40.6%40.6%
Op Inc Chg 3Y Avg9.0%100.1%--16.2%54.6%35.4%
Op Mgn LTM-16.2%19.7%12.6%-17.7%19.4%17.7%
Op Mgn 3Y Avg-148.8%18.4%--18.2%17.3%17.7%
QoQ Delta Op Mgn LTM6.3%-0.1%4.6%--0.5%0.6%0.6%
CFO/Rev LTM-48.9%22.1%7.7%-16.5%29.2%16.5%
CFO/Rev 3Y Avg-127.5%17.2%--16.0%20.2%16.6%
FCF/Rev LTM-54.0%21.1%-0.5%-13.1%25.5%13.1%
FCF/Rev 3Y Avg-186.8%16.0%--12.7%17.5%14.4%

Valuation

AMPXPOWLFPSRFILETNVRTMedian
NameAmprius .Powell I.Forgent .RF Indus.Eaton Vertiv  
Mkt Cap1.16.08.1-150.978.88.1
P/S10.35.25.7-5.06.95.7
P/Op Inc-63.526.245.6-28.435.428.4
P/EBIT-63.526.245.1-28.736.428.7
P/E-30.531.399.1-39.445.539.4
P/CFO-21.023.374.6-30.523.523.5
Total Yield-3.3%3.4%1.0%-3.6%2.3%2.3%
Dividend Yield0.0%0.2%0.0%-1.1%0.1%0.1%
FCF Yield 3Y Avg-18.3%5.4%--2.3%2.6%2.4%
D/E0.00.00.1-0.10.00.0
Net D/E-0.1-0.10.1-0.10.00.0

Returns

AMPXPOWLFPSRFILETNVRTMedian
NameAmprius .Powell I.Forgent .RF Indus.Eaton Vertiv  
1M Rtn-14.8%-7.8%-10.1%-14.8%-2.4%-14.4%-12.2%
3M Rtn-23.7%-29.6%-21.3%-46.8%-2.7%-29.2%-26.5%
6M Rtn-58.5%-32.0%-7.0%-49.8%-3.9%-33.3%-32.6%
12M Rtn-39.4%45.6%8.0%-14.7%4.6%15.4%6.3%
3Y Rtn124.6%506.4%8.0%142.7%90.4%399.6%133.7%
1M Excs Rtn-21.0%-9.5%-19.9%-14.1%-7.3%-17.3%-15.7%
3M Excs Rtn-28.5%-33.1%-23.5%-51.2%-7.9%-34.6%-30.8%
6M Excs Rtn-68.1%-41.5%-16.5%-59.3%-13.4%-42.8%-42.1%
12M Excs Rtn-64.1%32.4%-8.8%-36.6%-14.0%-3.2%-11.4%
3Y Excs Rtn11.2%380.2%-69.5%66.5%9.0%315.3%38.8%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Battery business7324943
Total7324943


Price Behavior

Price Behavior
Market Price$7.71 
Market Cap ($ Bil)1.1 
First Trading Date09/15/2022 
Distance from 52W High-66.3% 
   50 Days200 Days
DMA Price$9.92$13.45
DMA Trenddownindeterminate
Distance from DMA-22.3%-42.7%
 3M1YR
Volatility69.7%100.9%
Downside Capture384.73444.48
Upside Capture217.45308.23
Correlation (S&P 500)53.7%43.8%
AMPX Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.682.973.903.543.502.40
Up Beta1.802.604.791.942.632.09
Down Beta5.366.793.613.592.642.12
Up Capture125%280%318%462%1770%7501%
Bmk +ve Days6162766132424
Stock +ve Days9202962128350
Down Capture139%273%382%322%189%113%
Bmk -ve Days16263760120328
Stock -ve Days13223564124383

[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%0.4334.9%
Equity (SPY)15.8%12.7%0.8644.2%
Gold (GLD)-1.4%29.4%-0.0531.7%
Commodities (DBC)50.4%20.7%1.8614.7%
Real Estate (VNQ)4.8%13.7%0.09-0.3%
Bitcoin (BTCUSD)-25.9%43.6%-0.5730.7%

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%0.5321.2%
Equity (SPY)13.2%17.1%0.5923.2%
Gold (GLD)18.4%18.9%0.799.0%
Commodities (DBC)9.6%19.5%0.378.5%
Real Estate (VNQ)1.6%18.8%-0.022.5%
Bitcoin (BTCUSD)8.8%51.8%0.3513.1%

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%0.5721.2%
Equity (SPY)15.2%17.9%0.7223.2%
Gold (GLD)12.3%16.4%0.619.0%
Commodities (DBC)8.1%18.1%0.368.5%
Real Estate (VNQ)5.2%20.7%0.212.5%
Bitcoin (BTCUSD)63.2%66.2%1.0313.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity22.8 Mil
Short Interest: % Change Since 91520260.6%
Average Daily Volume6.0 Mil
Days-to-Cover Short Interest3.8 days
Basic Shares Quantity143.5 Mil
Short % of Basic Shares15.9%

Earnings Returns History

Updated 9/28/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20268.4%11.7%-11.9%
5/6/2026-27.4%-21.0%-11.3%
3/4/202618.6%48.1%27.5%
11/6/202513.1%4.1%3.9%
8/7/20254.4%-3.6%-0.4%
5/8/2025-0.8%9.6%26.5%
3/4/2025-6.8%-19.8%24.3%
10/29/20247.9%-14.4%42.4%
...
SUMMARY STATS   
# Positive768
# Negative9108
Median Positive8.4%12.1%25.4%
Median Negative-6.8%-12.4%-35.1%
Max Positive18.6%48.1%46.5%
Max Negative-27.4%-41.4%-46.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20268.4%11.7%-11.9%
5/6/2026-27.4%-21.0%-11.3%
3/4/202618.6%48.1%27.5%
11/6/202513.1%4.1%3.9%
8/7/20254.4%-3.6%-0.4%
5/8/2025-0.8%9.6%26.5%
3/4/2025-6.8%-19.8%24.3%
10/29/20247.9%-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%
11/9/202317.6%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%
11/10/20224.2%-2.3%-32.7%
SUMMARY STATS   
# Positive768
# Negative9108
Median Positive8.4%12.1%25.4%
Median Negative-6.8%-12.4%-35.1%
Max Positive18.6%48.1%46.5%
Max Negative-27.4%-41.4%-46.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/06/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/20/202510-K
09/30/202411/07/202410-Q
06/30/202408/09/202410-Q
03/31/202405/09/202410-Q
12/31/202303/28/202410-K
09/30/202311/13/202310-Q
06/30/202308/11/202310-Q
03/31/202305/11/202310-Q
12/31/202203/30/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/06/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/20/202510-K
09/30/202411/07/202410-Q
06/30/202408/09/202410-Q
03/31/202405/09/202410-Q
12/31/202303/28/202410-K
09/30/202311/13/202310-Q
06/30/202308/11/202310-Q
03/31/202305/11/202310-Q
12/31/202203/30/202310-K
09/30/202211/14/202210-Q
03/31/202206/21/2022S-4

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/4/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Net LossReported -10.00 Mil   LoweredGuidance: -8.00 Mil for 2026
2026 Net Loss Per ShareReported -0.08   LoweredGuidance: -0.06 for 2026
2026 RevenueReported 140.00 Mil 7.7% RaisedGuidance: 130.00 Mil for 2026
2026 Gross ProfitCalculated39.20 Mil39.20 Mil39.20 Mil  Rev x Gross Margin
2026 Gross MarginReported 28.0%  3.0%RaisedGuidance: 25.0% for 2026
2026 Adjusted EBITDAReported 4.00 Mil 0 AffirmedGuidance: 4.00 Mil for 2026
2026 Capital ExpenditureReported 10.00 Mil 0 AffirmedGuidance: 10.00 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Net LossReported -8.00 Mil   AffirmedGuidance: -8.00 Mil for 2026
2026 Net Loss Per ShareReported -0.06   AffirmedGuidance: -0.06 for 2026
2026 RevenueReported 130.00 Mil 4.0% RaisedGuidance: 125.00 Mil for 2026
2026 Adjusted EBITDAReported 4.00 Mil   AffirmedGuidance: 4.00 Mil for 2026
2026 Capital ExpenditureReported 10.00 Mil   AffirmedGuidance: 10.00 Mil for 2026

Insider Activity

Updated 8/25/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Stepien, Thomas MChief Executive OfficerDirectSell825202610.038,00080,2405,958,783Form
2Sun, Kang DirectSell825202610.3462,101642,18612,599,443Form
3Stefan, Constantin IonelChief Technology OfficerDirectSell825202610.3429,681306,9317,979,415Form
4Stepien, Thomas MChief Executive OfficerDirectSell825202610.3423,529243,3136,226,275Form
5Dixon, Donald R See FootnoteSell616202617.1785,0001,459,2126,169,548Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Stepien, Thomas MChief Executive OfficerDirectSell825202610.038,00080,2405,958,783Form
2Sun, Kang DirectSell825202610.3462,101642,18612,599,443Form
3Stefan, Constantin IonelChief Technology OfficerDirectSell825202610.3429,681306,9317,979,415Form
4Stepien, Thomas MChief Executive OfficerDirectSell825202610.3423,529243,3136,226,275Form
5Dixon, Donald R See FootnoteSell616202617.1785,0001,459,2126,169,548Form
6Dixon, Donald R See FootnoteSell611202619.1340,000765,2008,500,989Form
7Stepien, Thomas MChief Executive OfficerDirectSell605202620.972,00041,94013,119,356Form
8Sun, Kang DirectSell528202617.193566,12122,016,242Form
9Stepien, Thomas MChief Executive OfficerDirectSell528202617.194,37575,22211,948,159Form
10Stefan, Constantin IonelChief Technology OfficerDirectSell528202617.193,20855,15713,777,323Form
11Dixon, Donald R See FootnoteSell528202617.9017,895320,2528,668,561Form
12Sun, Kang DirectSell526202614.7967,7961,002,59418,941,781Form
13Stefan, Constantin IonelChief Technology OfficerDirectSell526202614.7928,812426,08311,897,534Form
14Stepien, Thomas MChief Executive OfficerDirectSell526202614.7960,702897,68510,341,499Form
15Sun, Kang DirectSell402202615.911,500,00023,860,71421,353,748Form
16Sun, Kang See FootnoteSell324202618.80217,8694,095,4021,060,294Form
17Chu, Steven DirectSell312202618.50155,5652,878,5552,356,265Form
18Chu, Steven DirectSell312202617.92166,6322,985,4292,281,444Form
19Sun, Kang DirectSell224202610.1661,251622,03513,632,743Form
20Stefan, Constantin IonelChief Technology OfficerDirectSell224202610.1625,366257,6047,345,778Form
21Stefan, Constantin IonelChief Technology OfficerDirectSell130202612.0039,690476,3518,985,700Form
22Stefan, Constantin IonelChief Technology OfficerDirectSell123202612.001,60019,2008,984,352Form
23Stefan, Constantin IonelChief Technology OfficerDirectSell123202612.04492,8275,931,9129,011,679Form
24Stefan, Constantin IonelChief Technology OfficerDirectSell123202612.0073,280879,4118,984,876Form
25Sun, Kang DirectSell120202611.0343,185476,27415,480,446Form
26Sun, Kang DirectSell120202611.07950,54810,518,66915,532,662Form
27Sun, Kang DirectSell114202610.10506,2675,111,47414,171,822Form
28Stefan, Constantin IonelChief Technology OfficerDirectSell1215202510.51198,2552,083,3827,867,747Form
29Stefan, Constantin IonelChief Technology OfficerDirectSell1125202510.0825,024252,2748,286,335Form
30Sun, KangChief Executive OfficerDirectSell1125202510.0868,655692,13214,150,627Form
31Sun, KangChief Executive OfficerDirectSell1119202510.601,000,00010,595,30015,599,524Form
32Stefan, Constantin IonelChief Technology OfficerDirectSell82520256.8219,159130,5925,773,151Form
33Wallach, SandraChief Financial OfficerDirectSell82520256.8228,390193,5126,852,155Form
34Sun, KangChief Executive OfficerDirectSell82520256.8265,654447,51110,035,532Form

Investor Activity (13F)

Updated Oct 17, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active 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 ManagerValue% of PortfolioTotal PositionsQoQFiling
Science & Technology Partners, L.P.$10.7 Mil2.8%42New13F
Wolf Hill Capital Management, LP$13.5 Mil1.9%20New13F
Thames Capital Management LLC$8.9 Mil1.6%43Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Wolf Hill Capital Management, LP$13.5 Mil1.9%20New13F
Science & Technology Partners, L.P.$10.7 Mil2.8%42New13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Wolf Hill Capital Management, LP$13.5 Mil1.9%20New13F
Science & Technology Partners, L.P.$10.7 Mil2.8%42New13F
Thames Capital Management LLC$8.9 Mil1.6%43Hold13F
Core Cache Last Updated: 10/16/2026