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Dec 31, 2023
Amprius Q4 2023 Earnings Report
Amprius ended Q4 2023 with strong revenue growth and advancements in technology and manufacturing capacity.
Key Takeaways
Amprius Technologies reported Q4 2023 revenue of $3.9 million, a significant increase compared to the same quarter last year. The company made substantial progress in advancing its silicon anode battery technology, winning new customers, and expanding its production capacity. Amprius is focused on constructing its GWh-scale facility in Brighton, Colorado, and optimizing its SiMaxx production process in Fremont.
Q4 revenue increased to $3.9 million, driven by product and development services.
Shipped to 41 total customers in Q4, including 16 new customers.
Completed a high-volume shipment of SiMaxx cells to the Korean Aerospace Research Institute (KARI).
Exited Q4 with $45.8 million in cash and no debt.
Amprius
Amprius
Amprius Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comDevelopment Services Revenue
CapyFin.com Forward Guidance
Amprius is focused on constructing its GWh-scale facility in Brighton, Colorado and expect to spend another $2 million to $3 million this year completing the new cathode line and other support equipment for the MWh line in Fremont.
Positive Outlook
- Completing the new cathode line and other support equipment for the MWh line in Fremont.
- Optimizing SiMaxx production process in Fremont.
- Commercializing 500 Wh/kg cells.
- Innovating and pushing the boundary of what is possible for our industry.
- Growing in the aviation market and expand to other industries seeking batteries with leading performance.
Challenges Ahead
- Detailed design work on our facility in Brighton is finalized and construction gets underway.
- Finalizing construction cost forecast for Brighton project.
- Strategic planning efforts, we filed a shelf registration statement on Form S-3 in October 2023
- Reliance on equity issuances, such as warrant exercises and sales under our ATM, and non-dilutive sources, such as grants, loans, and incentives.
- The company's GAAP gross margin will begin to normalize as we approach our capacity expansion goals.
Revenue & Expenses
Visualization of income flow from segment revenue to net income