Amprius Lifts 2026 Outlook to $145 Million After 83% Sales Jump

Amprius Technologies raised its 2026 revenue outlook to $145 million, up from a prior floor of at least $140 million, after third-quarter revenue climbed 83% year over year to a record $39.1 million. The company reported the figures on November 10.

The Fremont, California firm makes silicon-anode lithium-ion cells for drones, aircraft and defense systems, relying largely on contract manufacturers. Nine-month revenue reached $101.7 million, which means the new guidance implies roughly $43 million for the fourth quarter, according to an MLQ.ai calculation.

Gross profit more than tripled to $10.5 million, and gross margin held at 27% for a second straight quarter, up from 15% in the third quarter of 2025. The net loss narrowed to $3.5 million, or 2 cents a share, from $3.9 million a year earlier. The margin improvement is the clearest sign that higher volumes, not one-off items, are doing the work.

Where is the money coming from?

U.S. revenue grew fastest. It rose 2.3 times from the second quarter to $12.2 million, a jump that points to domestic defense and aviation customers taking a larger share of shipments. Operating cash flow tells a harder story: the company burned $48.0 million over nine months as receivables and inventory grew, leaving cash and equivalents at $60.7 million at September 30, down from $90.5 million at the end of 2025.

Not every line moved in the right direction. Adjusted EBITDA swung to a loss of $1.0 million from a $0.2 million profit a year earlier, because research and development spending rose to $6.4 million from $2.5 million. The operating loss stood at $4.7 million, matching the year-ago figure.

The quarterly trajectory, in millions of dollars:

• Revenue: $21.4 in Q3 2025, $25.2 in Q4 2025, $28.5 in Q1 2026, $34.0 in Q2 2026, $39.1 in Q3 2026
• Gross profit: $3.3 in Q3 2025, $9.3 in Q2 2026, $10.5 in Q3 2026
• Net loss: $3.9 in Q3 2025, $3.2 in Q2 2026, $3.5 in Q3 2026

Five consecutive quarters of growth show a company scaling on a steady slope rather than spiking on a single order.

What does the defense contract change?

Amprius listed a competitive $75 million contract with the U.S. Department of War, of which $22.3 million is obligated. The award funds conversion of an existing battery production line to make up to 12 million NDAA-compliant cells a year by 2028. That figure matters because it anchors domestic capacity to a compliance regime that pushes defense buyers toward U.S.-made cells, a commercial advantage for a California-based supplier.

The quarter also brought product news. Amprius introduced the SiCore 500, a cell rated at 500 watt-hours per kilogram that runs on conventional lithium-ion manufacturing equipment. Building a high-energy cell on standard tooling lowers the barrier to volume production, since the company need not wait for bespoke lines.

Customer activity widened as well. The company expanded deployment with German drone maker Quantum Systems on its Vector and Twister platforms, and it began supplying cells for a solar-powered stratospheric platform built by a U.S. aerospace company it did not name.

"We delivered record revenue, as we continued to deepen our relationships with customers across the drone, aviation, defense, and advanced mobility markets," Chief Executive Tom Stepien said.

What does guidance promise?

For full-year 2026, Amprius now expects gross margin of at least 28%, a net loss under $10 million and adjusted EBITDA of at least $2.5 million. Those targets would mark the company's first positive adjusted EBITDA on an annual basis if met, against a loss in the current quarter.

The gap between a $3.5 million quarterly net loss and guidance of under $10 million for the year is narrow, so execution in the fourth quarter carries most of the weight. With the defense obligation, the SiCore 500 ramp and rising U.S. revenue in place, the company has set itself a path where 2027, not 2026, becomes the first full year to test profitability.