Amprius Technologies Inc. logo

Amprius Technologies Inc.(AMPX)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
3-STAR RATING
PASS
LAST CLOSE
$9.6
09/28/2026
(24-hour delay)

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*as per simulation (see disclosures)
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Upturn Advisory & Investor View for AMPX

09/28/2026: AMPX (3-star) is currently NOT-A-BUY. Pass it for now.

Amprius Technologies is an emerging player in the advanced battery market, specializing in high-energy density silicon-anode batteries for the aerospace and defense sectors. Its primary strength lies in its proprietary technology, which offers superior performance for applications like electric drones and air mobility. The company's growth story centers on its ongoing transition from lab-scale innovation to commercial manufacturing capacity. Investors face significant risks, including the high cost of production scaling, intense competition from well-funded incumbents, and ongoing cash burn. This stock may suit risk-tolerant growth investors, provided they closely monitor the company's ability to execute on its production roadmap and secure meaningful, recurring commercial contracts.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers exposure to breakthrough battery tech, but high execution risk makes it speculative.
Momentum investorMixed fitMomentum is conditional on positive news flow regarding manufacturing capacity or major contract wins.
Value investorWeak fitThe lack of earnings and cash flow generation makes this an unsuitable pick for traditional value criteria.
Dividend investorWeak fitThe company does not pay a dividend and requires significant reinvestment.
Low-risk investorWeak fitHigh volatility and the risks associated with commercialization make this unsuitable for low-risk portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighAs a small-cap technology growth stock, share prices are subject to large swings based on sentiment.
Valuation riskHighValuations are often speculative and based on long-term growth promises rather than current fundamentals.
Competition risk (battery tech)HighThe firm faces competition from well-funded incumbents and other startups seeking to solve the energy density equation.
Business qualityMediumThe technology is highly regarded, but the business quality is in a nascent state of development.
Dividend incomeLow / noneThere is no dividend income and no expectation of one for the foreseeable future.
Execution riskHighSuccessfully scaling manufacturing while maintaining product quality is the most significant hurdle for the firm.

Price Behavior

Downtrend
PRICE PATH

Downtrend

The stock has experienced a sustained decline in price over recent periods.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit 224.41%
Avg. Invested days 26
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 5.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/28/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
AMPX receives a 2-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

★★★★★
AMPX has moderate overall fundamentals (3 stars), with soft financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, moderate earnings growth (+1.4%) and strong revenue growth (+202.1%) are partially offset by weak cash generation (FCF margin -48.7%), weak profitability (net margin -60.3%), modest insider ownership of 4.36%.

Financial Health Rating

★★★★★
AMPX's financial health is soft, with the relatively strongest area being solid liquidity, including working-capital and asset support (WC/assets 69.2%). Profitability is weak (1 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is AMPX's strongest growth driver at +202.1% FY2025 versus FY2024 (strong, 5 stars). By comparison, while earnings growth (+1.4%, moderate) and free-cash-flow growth (+2.8%, moderate) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 69.6% and approximately 97.8% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 4.36% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 6.32%
Vanguard Capital Management, LLC 3.36%
Two Sigma Investments LLC 2.96%
Jane Street Group LLC 2.85%
Driehaus Capital Management LLC 2.60%

Unit Economics (Per $1K Revenue)

★★★★★
AMPX generates approximately $113 of gross profit, $-639 of operating income, and $-487 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Operating losses and cash burn explain the 1-star rating, with weak cash conversion and weak capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
AMPX has a liquid profile. Weak momentum is the primary drawback, while soft valuation.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.40B USD
Price to earnings Ratio -
1Y Target Price 23
Price to earnings Ratio -
1Y Target Price 23
Volume (30-day avg) 4.8M shares
Beta 2.34
52 Weeks Range 7.71 - 24.23
Updated Date 09/28/2026
52 Weeks Range 7.71 - 24.23
Updated Date 09/28/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.29

How Company Makes Money

Business areaWhat it includesRetail investor read
Battery SalesRevenue from the sale of SiCore and SiMaxx batteries to aerospace, defense, and high-performance mobility customers.The company makes money by selling high-performance batteries to customers who need longer flight times or mobility ranges.

Analyzing Revenue: Products, Geography and Growth

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 161.29
Enterprise Value 1.35B
Price to Sales(TTM) 12.84
Enterprise Value 1.35B
Price to Sales(TTM) 12.84
Enterprise Value to Revenue 12.52
Enterprise Value to EBITDA -34.49
Shares Outstanding 146.08M
Shares Floating 142.88M
Shares Outstanding 146.08M
Shares Floating 142.88M
Percent Insiders 4.36
Percent Institutions 69.6

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Amprius Technologies Inc.

Exchange NYSE
Headquarters Fremont, CA, United States
IPO Launch date 2022-09-15
CEO, President & Director Mr. Thomas Michael Stepien
Sector Industrials
Industry Electrical Equipment & Parts
Full time employees 97
Full time employees 97

Amprius Technologies, Inc. develops, manufactures, and markets lithium-ion batteries for mobility applications. The company provides silicon anode lithium-ion batteries under the SiCore and SiMaxx product platforms. Its batteries are primarily used for existing and emerging aviation applications, including unmanned aerial systems, such as drones and high-altitude pseudo satellites. The company was founded in 2008 and is headquartered in Fremont, California.