Amprius Q4 Sales Rise 18% Sequentially, Guides $125M+ 2026 Revenue
Amprius posted Q4 revenue of $25.2M (+18% sequentially, +130% YoY) and full-year sales of $73M, with gross margin at 24%. Management secured a $14.8M DIU contract, achieved full NDAA sourcing compliance (11/11), ended period with $90.5M cash and guides 2026 revenue above $125M with at least $4M adjusted EBITDA.
1. Q4 and Full-Year 2025 Financial Results
CFO Ricardo Rodriguez reported Q4 revenue of $25.2 million, up 18% sequentially and more than 2.3 times year-over-year, boosting full-year 2025 sales to $73 million. Gross margin reached 24% in Q4 versus 15% in Q3, lifting full-year margin to 11% from –76% in 2024, while adjusted EBITDA turned positive at $1.8 million.
2. Defense Sourcing Compliance and DIU Contract
Amprius expanded its Defense Innovation Unit contract to $14.8 million, supporting prototyping of NDAA-compliant SiCore pouch cells. The company’s sourcing scorecard now reads 11 out of 11, with cell components and assembly secured through multiple NDAA-compliant partners in the U.S. and South Korea.
3. Balance Sheet Actions and One-Time Charges
The company ended Q4 with $90.5 million in cash and zero debt after raising $23.1 million via stock issuance and warrant exercises, then terminated its ATM program. It recorded a $22.5 million one-time charge and settled a Colorado lease for $20 million, reducing near-term liabilities and right-of-use assets.
4. 2026 Financial Outlook
Management targets at least $125 million in revenue and a minimum of $4 million in adjusted positive EBITDA for 2026, forecasting a net loss of $8 million (–$0.06 per share) based on 134.5 million shares outstanding, marking its first full year of baseline profitability.