Amprius Technologies, Inc. (AMPX) FY2025 10-K Annual Report
Filed: Mar 6, 2026
Information Technology
Miscellaneous Electrical Machinery, Equipment & SuppliesSEC EDGAR Amprius Technologies, Inc. (AMPX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 6, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Amprius Technologies, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: develops and markets high-performance lithium-ion silicon anode batteries focused on aviation, ground, and marine electric mobility
- • New product: full commercial launch of SiCore silicon anode batteries in January 2024 with annual production capacity >2.0 GWh via global contract manufacturing
- • Strategic shift: terminated large 774,000 sq ft Colorado lease in early 2026 to emphasize outsourced contract manufacturing for rapid scalable production and minimal capital investment
- • Quantitative highlight: access to >2.0 GWh annual SiCore battery production capacity; expanded Fremont pilot line to 10 MWh capacity; $14.8 million US government contract awarded in 2025
- • Noteworthy fact: unveiled >500 Wh/kg prototype SiMaxx battery in March 2023, half the weight and volume of current state-of-the-art cells; still in development as of Dec 2025
Management Discussion & Analysis
- • Revenue $73.0M, up 202% YoY from $24.2M driven by $48.1M increase in SiCore battery sales and $0.5M in government grants
- • Gross margin 11% vs (76)% loss YoY, driven by higher sales volume; operating loss stable at $(46.6)M vs $(46.3)M
- • Best segment: SiCore battery sales $48.1M increase; Worst: customization design services revenue down $1.2M
- • Cash $90.5M at year-end 2025; $97.5M net proceeds from stock sales under Sales Agreement; no debt; $19.1M impairment charge on Colorado facility lease termination
- • Management expects to expand contract manufacturing, increase pilot line capacity to 10 MWh in 2026, and sees risks from global supply chain and regulatory changes impacting defense contracts
Risk Factors
- • Regulatory risk: NDAA compliance required for battery components under Defense Innovation Unit program; sourcing compliant suppliers challenging, risking delays and program standing
- • Geopolitical risk: Reliance on suppliers in China exposes operations to U.S.-China trade conflicts and tariffs, increasing costs and supply chain disruption risks
- • Operational risk: Dependence on third-party manufacturing, including Berzelius, without established commercial terms risks supply shortages, price hikes, and quality control issues
- • Market disruption risk: Emerging alternative battery technologies and competitors with greater resources threaten market share expansion and profitability
- • Financial risk: Early-stage company with history of losses, needing significant capital for manufacturing scale-up and uncertain cost targets to achieve profitability
Amprius Technologies, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$72M
▲ +205.1% YoY
Net Income
-$44M
▲ +1.4% YoY
Gross Margin
11.5%
Operating Margin
-64.9%
▲ +13143bp YoY
Net Margin
-61.2%
▲ +12833bp YoY
ROE
-42.4%
▲ +2189bp YoY
Total Assets
$157M
▲ +29.5% YoY
EPS (Diluted)
$-0.35
▲ +22.2% YoY
Operating Cash Flow
-$31M
▲ +6.7% YoY
Source: XBRL data from Amprius Technologies, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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