The following is a summary of the Amprius Technologies, Inc. (AMPX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Amprius reported Q4 revenue of $3.9 million, a substantial increase from the same quarter last year and sequential growth from the previous quarter.

• The full year 2023 saw robust revenue growth of over 100% from 2022, bringing annual revenue to $9.1 million.

• Gross margin for 2023 was significantly negative due to fluctuations in the product and services revenue mix.

• The GAAP net loss for full year 2023 amounted to $36.8 million or $0.43 per share.

• Amprius maintained a strong financial position exiting the year with $45.8 million in cash and no debt.

Business Progress:

• Amprius achieved key technology development milestones in 2023, expanded its customer base, and significantly enhanced production capacity.

• A new 500 watt-hour per kilo, 1,300 watt-hour per liter battery platform has been developed and is expected to be commercially available soon.

• The company expanded its product line with the launch of SiCore, promising high energy density and longer cycle life.

• Amprius increased its customer spectrum, shipping to three additional customers in Q4 2023 and secured significant purchase orders.

• Significant progress in expanding manufacturing capacity with a new production line in Fremont and initiating construction of a gigawatt-scale facility in Brighton, Colorado.

• Expected increase in revenue for 2024 due to additional capacity from the new product line and facilities, though margins may face pressure due to rising costs.

More details: Amprius Technologies IR

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