Amprius Technologies Q4 2024: Key Contradictions in Customer Engagement, Trade Strategy, and Manufacturing

These are the key contradictions discussed in Amprius Technologies' latest 2024Q4 earnings call, specifically including: Customer Engagement and Purchase Orders, Global Trade Environment Strategy, Customer Engagement and Sales Strategy, and Manufacturing and Supply Chain Strategy:



Record Performance and Customer Expansion:
- Amprius Technologies reported record revenue of $10.6 million for Q4 2024, marking a 35% increase from the previous quarter and 170% from Q4 2023.
- The growth was driven by the company's record shipments to 98 total customers, including 53 new ones, and increased engagement with 235 customers in 2024.

Product Development and Market Penetration:
- Amprius introduced a new silicon anode battery with 370 watt-hour per kilo energy density in Q1 2025, supporting both high energy and power capabilities.
- The new product is expected to enhance performance in aviation and electric vehicle applications, contributing to the company's expanding market penetration.

Manufacturing Capacity and Strategic Partnerships:
- Amprius has 1.8 gigawatt hours of cell manufacturing capacity, supporting diverse battery formats and facilitating customer demand.
- The company is actively pursuing global contract manufacturing partnerships to support geopolitical supply needs and expand its global footprint, including recent agreements with Korean and European manufacturers.

Financial Performance and Gross Margin Improvement:
- The company's gross margin improved to negative 21% in Q4 2024, up from negative 65% in Q3, largely due to positive gross margins from the SiCore product line.
- The improvement is expected to continue as Amprius scales its production and benefits from more favorable product and services revenue mix.