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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