The following is a summary of the Amprius Technologies, Inc. (AMPX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Amprius Technologies reported Q1 revenue of $2.3 million, a 397% increase from the prior year period and 147% sequential increase.

• Gross margin of negative 190% occurred due to product and services revenue mix fluctuations and factory start-up costs.

• The GAAP net loss for Q1 was $9.9 million or a net loss of $0.11 per share with 90 million weighted average number of shares outstanding.

• Amprius ended the quarter with $39 million in cash and no debt, with a cash inflow of $8.2 million primarily from the use of their ATM.

Business Progress:

• Amprius launched the cycle product family for applications requiring both high energy density and longer cycle life.

• Toll manufacturing agreements give Amprius 100 megawatt-hours of cycle capacity.

• The customer base doubled over Q4 2023, with 82 customers this quarter, up from 41.

• Amprius signed its first long-term manufacturing agreement with a tool manufacturing partner and extended and added several strategic partnerships.

• Amprius is making progress with its large-scale manufacturing site in Brighton, Colorado, with 30% of construction, design, drawings, and specifications completed.

• Plans for the Brighton facility have been updated to focus the initial production line on cycles.

• Amprius will increase SiMaxx production later this year and is optimizing SiMaxx production process in anticipation.

• Over 800 customer orders have been placed for Amprius' commercially available batteries.

More details: Amprius Technologies IR

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