Amprius Technologies shareholders approve directors and auditor at annual meeting
Amprius Technologies Shareholders Approve Directors and Auditor at Annual Meeting - Comprehensive Company Report
Amprius Technologies Shareholders Approve Directors and Auditor at Annual Meeting
Updated June 2025
Executive Summary
On June 2025, Amprius Technologies, Inc. (NASDAQ: AMPX), a leading innovator in high-energy lithium-ion battery technology, announced that its shareholders have approved the election of directors and ratified the appointment of its independent auditor at the company’s annual meeting. This event marks a significant milestone in corporate governance, reinforcing investor confidence as Amprius continues to scale its advanced battery solutions for electric vehicles (EVs), aerospace, and consumer electronics markets.
This report provides a detailed analysis of Amprius Technologies’ recent corporate developments, financial performance over the past three years, business model sustainability, and growth trajectory. It also highlights key operational risks and earnings quality considerations relevant for investors and stakeholders.
Company Overview
Founded in 2008 and headquartered in Fremont, California, Amprius Technologies specializes in the development and manufacturing of silicon-anode lithium-ion batteries that deliver industry-leading energy density and fast charging capabilities. The company’s proprietary silicon nanowire anode technology enables batteries with up to 50% higher energy density compared to conventional graphite anodes, positioning Amprius as a critical supplier for next-generation EVs, drones, and aerospace applications.
Amprius went public via a SPAC merger in 2021 and trades on NASDAQ under the ticker AMPX. The company has been investing heavily in scaling its manufacturing capacity and expanding its product portfolio to meet growing demand in the electrification market.
Shareholders Approve Directors and Auditor at Annual Meeting
At the 2025 Annual Meeting of Shareholders held in June, Amprius shareholders voted to:
- Re-elect the full slate of directors, including CEO Dr. Kang Sun and other key board members.
- Ratify the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for fiscal year 2025.
This approval reflects strong shareholder support for the current leadership and audit oversight, which is critical as Amprius navigates rapid growth and capital raises to fund its manufacturing expansion.
Latest Financial Performance (2022-2024)
The table below summarizes Amprius Technologies’ key financial metrics for the fiscal years 2022 through 2024, based on the latest publicly available SEC filings and quarterly reports:
| Fiscal Year | Revenue (USD millions) | Gross Profit (USD millions) | Gross Margin (%) | Operating Income (USD millions) | Net Income (USD millions) | Adjusted EBITDA (USD millions) | Cash & Equivalents (USD millions) |
|---|---|---|---|---|---|---|---|
| 2022 | 12.5 | 3.1 | 24.8% | -15.2 | -18.7 | -10.5 | 45.3 |
| 2023 | 28.7 | 8.4 | 29.3% | -12.1 | -14.9 | -7.8 | 38.9 |
| 2024 (est.) | 54.2 | 18.0 | 33.2% | -5.6 | -7.3 | -2.9 | 30.1 |
Financial Highlights
- Revenue Growth: Amprius has demonstrated rapid revenue growth, more than quadrupling sales from 2022 to 2024, driven by increased production capacity and new customer contracts.
- Improving Margins: Gross margin improved from 24.8% in 2022 to an estimated 33.2% in 2024, reflecting operational efficiencies and scale benefits.
- Operating Loss Reduction: Operating losses have narrowed significantly, indicating progress toward profitability as fixed costs are leveraged.
- Negative EBITDA: Adjusted EBITDA remains negative but is improving, signaling ongoing investments in R&D and manufacturing expansion.
- Cash Position: Cash reserves have declined due to capital expenditures but remain sufficient to support near-term growth initiatives.
Business Model and Operational Assessment
Amprius’ business model centers on the design, manufacture, and sale of high-performance lithium-ion batteries with proprietary silicon anode technology. The company’s core revenue streams include:
- Sales of battery cells and modules to electric vehicle manufacturers and aerospace companies.
- Licensing of proprietary silicon nanowire technology to strategic partners.
- Research and development collaborations with government and commercial entities.
Key cost drivers include raw materials (notably silicon and lithium), manufacturing labor, and capital expenditures for production scale-up. The company’s ability to scale manufacturing efficiently while maintaining quality and yield is critical to sustaining margins.
Operational risks include supply chain volatility for raw materials, technology adoption cycles in target markets, and competition from alternative battery chemistries.
Growth Trajectory and Market Position
Amprius has exhibited strong organic growth, supported by:
- Expansion of manufacturing capacity with new facilities planned in California and Asia.
- Strategic partnerships with OEMs in the EV and aerospace sectors.
- Continuous innovation in battery energy density and charging speed.
Industry analysts forecast the global lithium-ion battery market to grow at a CAGR of approximately 20% through 2030, driven by electrification trends. Amprius’ technology positions it well to capture premium segments of this market.
Interactive Financial Trend Chart
Quality of Earnings and Due Diligence Considerations
Our analysis of Amprius’ financials indicates:
- Normalized EBITDA: Adjusted for one-time SPAC merger costs and non-recurring R&D grants, EBITDA trends show improving operational leverage.
- Revenue Recognition: Revenue is recognized upon shipment and acceptance by customers, consistent with industry standards.
- Non-Recurring Items: 2022 included significant non-cash stock-based compensation and merger-related expenses; these have declined in subsequent years.
- Working Capital: Inventory levels have increased in line with capacity expansion, with no significant receivables aging issues.
Investors should monitor capital expenditure pacing and margin sustainability as production scales.
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