Amprius Technologies, Inc. reports Q2 2026 revenue of $34M, up 137% YoY. Gross margins improve to 27%, driven by strong demand for silicon anode batteries.
Amprius Technologies, Inc. reported Q2 2026 revenue of $34 million, a remarkable 137% increase year-over-year and exceeding the $29 million consensus. This significant growth underscores the company's expanding foothold in the defense and commercial drone markets, driven by heightened demand for their high-performance silicon anode batteries.
Key Takeaways
- Revenue growth soared to $34 million, up 137% YoY and 19% sequentially, marking the sixth consecutive quarter of growth.
- Gross profit improved to $9.3 million, yielding a gross margin of 27%, up from 20% last quarter and 9% a year ago.
- GAAP net loss narrowed to $5.1 million or $0.04 per share, a 20% improvement compared to the same period last year.
- Revenue forecast raised for the second consecutive quarter, with expectations now exceeding $140 million for 2026, up from the previous guidance of $130 million.
- New contracts include a $24 million order from a European drone manufacturer and a three-year deal with Stark Future, projected to generate over $100 million in revenue through 2029.
Record Revenue Highlights Growing Demand for Drones
Amprius achieved record revenue in Q2 2026, driven predominantly by their silicon anode batteries, which accounted for 98% of total revenue. The company cited a growing interest in their products from both the defense sector, with contracts linked to UAVs, and commercial markets. CEO Tom Stepien emphasized the strategic importance of drones, stating, > “The characteristics of our cells make them a particularly strong fit for one of the fastest growing markets in the world, battery powered unmanned aerial vehicles.”
Revenue Breakdown by Region
| Metric | Q2 2026 | YoY | QoQ |
|---|---|---|---|
| Revenue | $34M | +137% | +19% |
| Gross Profit | $9.3M | +326% | +55% |
| Gross Margin | 27% | +18% | +7% |
| GAAP Net Loss | $5.1M | -20% | -24% |
EMEA was the primary revenue contributor, accounting for 68% of total sales. This reflects Amprius's success in establishing a strong market presence in Europe, particularly in the drone sector.
Guidance Upgrade Reflects Strong Demand Visibility
The company raised its full-year revenue guidance for 2026 to over $140 million, up from the previous forecast of $130 million. CFO Ricardo Rodriguez noted, > “The revenue raise was pretty easy just given the demand profile.” The updated guidance also includes expectations for gross margins of at least 28%, driven by improved fixed cost management and a favorable product mix.
Strategic Contracts and Expanding Market Opportunities
Amprius is capitalizing on growing demand for its products through new contracts and partnerships. The recent $24 million order from a European drone manufacturer highlights the increasing adoption of their silicon anode batteries in both military and commercial applications. Additionally, a three-year contract with Stark Future, a premium electric motorcycle manufacturer, is projected to generate over $100 million in revenue through 2029.
Stepien remarked on the importance of military contracts, particularly with the U.S. Department of Defense, stating, > “Our current contract with the Defense Innovation Unit gives us a front row seat in this arena.” The company's focus on NDAA-compliant battery solutions positions it well for future growth in the defense sector as military spending on drones increases significantly.
Analyst Q&A Insights
During the Q&A segment, analysts raised questions regarding the company's supply chain dynamics and margins. Stepien emphasized their strategic flexibility in managing supply chains and highlighted the importance of their PAC Partner program, which allows the company to scale without significant capital expenditure.
Rodriguez provided insight into the margin dynamics, noting, > “The margins really depend on both the regional mix and the product mix,” indicating that pouch cells are the most accretive for the company’s profit margins. The management team expressed confidence in hitting their target margins while navigating the complexities of supply chain compliance.
Frequently Asked Questions
Did Amprius Technologies, Inc. beat earnings estimates in Q2 2026?
Yes, Amprius reported a GAAP net loss of $5.1 million, or $0.04 per share, which was narrower than the expected loss of $0.05 per share, representing a positive earnings surprise.
What drove the revenue growth for Amprius in Q2 2026?
Revenue growth was primarily driven by a 137% year-over-year increase in demand for silicon anode batteries, particularly in the defense and commercial drone markets.
What is Amprius's revenue forecast for the full year 2026?
Amprius now expects to exceed $140 million in revenue for 2026, an increase from the previous guidance of over $130 million, reflecting strong customer demand.
How is Amprius expanding its manufacturing capacity?
Amprius is leveraging partnerships with contract manufacturers in multiple regions, including China and South Korea, while also progressing towards NDAA compliance to enhance domestic production capabilities.
What role do drones play in Amprius's business strategy?
Drones represent a significant growth opportunity for Amprius, with their silicon anode batteries being well-suited for applications in both military and commercial sectors, enhancing flight duration and payload capacity.
The strong performance in Q2 2026 positions Amprius favorably as it navigates growing demand in the UAV sector. However, the company must manage its supply chain and margin dynamics effectively to maintain this growth trajectory.
This analysis is based on public earnings call materials and is not investment advice.
