Amprius Technologies reported third-quarter 2026 results on November 10. Revenue was a record $39.1 million, up 83% from $21.4 million a year earlier and 15% from the second quarter. The net loss narrowed to $3.5 million from $3.9 million. The stock fell after hours anyway.
Amprius makes silicon anode lithium-ion batteries, which pack more energy into the same weight than conventional cells. That matters most where weight is everything: drones, aviation and defense.
The US is the story
US revenue rose 2.3 times quarter over quarter to $12.2 million. Management ties that to defense and government programs, which fits the broader rush to build American drone supply chains. CEO Tom Stepien named drones, aviation, defense and advanced mobility as the markets where customer relationships deepened.
Beat or miss depends on whose number
Estimates for the quarter varied. Revenue beat the $35.9 million consensus cited by one data provider and missed the $42.2 million figure used by another. The GAAP loss of $0.02 per share also landed on either side of expectations depending on the source. Mixed signals like that tend to produce a nervous reaction, which is what happened.
The operating trend is clearer. Gross profit was $10.5 million, and gross margin expanded about 12 percentage points to 27%. CFO Ricardo Rodriguez credits the company’s model of owning the cell process while outsourcing manufacturing capacity, which lets it scale without building factories.
Guidance
Amprius raised 2026 revenue guidance to $145 million from at least $140 million, slightly above the $140.6 million analysts expected. Revenue for the first nine months was $101.7 million, so the fourth quarter needs about $43 million, another sequential step up.
Earlier in the year the company targeted a full-year net loss below $10 million and positive adjusted EBITDA of at least $4 million. Net losses for the first three quarters add up to about $13.6 million ($5.0 million, $5.1 million and $3.5 million), already past that earlier ceiling, and the third-quarter release didn’t repeat the loss target. A company growing revenue 80% while nearly breaking even is in a strong position. Margins in the high twenties still leave little room for error if battery input costs rise.