Why did AMPX's revenue surge in Q4 2024 despite rising expenses?

Amprius Technologies Inc (AMPX) experienced a significant surge in revenue during Q4 2024, primarily driven by a 1.7 YoY growth rate in total revenue, amounting to $10.63 million. This growth can be attributed to several key factors:

1. **Revenue Growth Drivers**: The company's product revenue increased by 176% year-over-year, reaching $6.1 million. Development Services and Grant Revenue also contributed, with a significant increase from the previous quarter and year over year.
2. **New Customer Acquisition**: Amprius Technologies Inc expanded its customer base, engaging with 53 new customers in Q3, which contributed to the revenue surge.
3. **Strategic Partnerships and Contracts**: The company secured substantial contracts and letters of intent with Fortune 500 companies, indicating strong future revenue potential.

Despite these positive developments, Amprius Technologies Inc faced challenges, including rising expenses and a negative gross margin. The net income for Q4 2024 was -$11.42 million, indicating that while revenue surged, the company still operated at a loss. The R&D expenses also showed a YoY growth rate of 0.77, reaching $2.28 million, which suggests that the surge in revenue may not have been enough to offset the increased costs.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|AMPX|AMPX.N|Amprius Technologies|2024 Q1|244.0353460972018|2336000|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q2|104.96323529411764|3345000|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q3|180.7362401715511|7855000|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q4|169.54868154158217|1.0631E7|169|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|AMPX|AMPX.N|Amprius Technologies|2024 Q1|-8.613491540320808|-9886000|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q2|-32.483065198983915|-1.2517E7|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q3|-27.767310409797457|-1.085E7|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q4|-17.300184918841175|-1.1418E7|169|

|code|Ticker|Name|Date|R&D Expenses|R&D Expenses YoY|market_code|
|---|---|---|---|---|---|---|
|AMPX|AMPX.N|Amprius Technologies|2024 Q1|1581000|97.625|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q2|1662000|115.28497409326425|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q3|1817000|122.94478527607362|169|
|AMPX|AMPX.N|Amprius Technologies|2024 Q4|2284000|77.05426356589146|169|