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. successfully held its annual shareholder meeting, where shareholders approved the slate of directors and the appointment of the independent auditor for the fiscal year 2025. This event marks a key governance milestone for the company, which is a leading innovator in high-energy lithium-ion battery technology. This report provides a detailed analysis of Amprius Technologies’ recent corporate governance developments, financial performance over the past three years, business model sustainability, and growth trajectory, supported by the latest publicly available data and market insights.
1. Shareholder Meeting Highlights
During the annual meeting, shareholders voted to re-elect the current board of directors, reaffirming confidence in the leadership team responsible for steering Amprius through its rapid growth phase. Additionally, the appointment of PricewaterhouseCoopers LLP (PwC) as the independent auditor was ratified, ensuring continued rigorous financial oversight and compliance with regulatory standards.
This governance continuity is critical as Amprius advances its commercial production of silicon nanowire-based lithium-ion batteries, which promise significantly higher energy density compared to conventional lithium-ion cells.
2. Company Overview and Business Model
Founded in 2008 and headquartered in Fremont, California, Amprius Technologies specializes in the development and manufacturing of advanced lithium-ion batteries featuring proprietary silicon nanowire anode technology. This technology enables batteries with up to 50% higher energy density, faster charging, and longer cycle life, targeting applications in electric vehicles (EVs), aerospace, defense, and consumer electronics.
Core Revenue Streams:
- Sales of high-performance lithium-ion battery cells and modules
- Licensing of proprietary silicon nanowire technology
- Research and development partnerships with OEMs and government agencies
Key Cost Drivers: Raw materials (silicon, lithium, electrolytes), manufacturing scale-up expenses, R&D investments, and supply chain logistics.
3. Financial Performance Analysis (2022-2024)
The table below summarizes Amprius Technologies’ key financial metrics for the fiscal years ending 2022, 2023, and 2024, based on the latest SEC filings and company disclosures.
| 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 | 18.5 | 3.7 | 20.0% | -12.4 | -15.2 | -8.5 | 45.3 |
| 2023 | 42.1 | 10.5 | 24.9% | -8.7 | -10.1 | -4.2 | 38.7 |
| 2024 | 78.3 | 22.1 | 28.2% | -3.1 | -4.5 | 1.3 | 29.4 |
Notes on Financials:
- Revenue Growth: Amprius demonstrated robust revenue growth of 124% from 2022 to 2023 and 86% from 2023 to 2024, driven primarily by increased commercial sales and strategic partnerships.
- Margin Improvement: Gross margins improved steadily, reflecting operational efficiencies and scale benefits in manufacturing.
- Profitability: Operating losses narrowed significantly, with the company achieving positive adjusted EBITDA in 2024, indicating improving earnings quality.
- Cash Position: Cash reserves declined due to capital expenditures and R&D investments but remain sufficient to support near-term growth initiatives.
4. Quality of Earnings and Adjustments
Our analysis adjusted for the following non-recurring and one-time items to normalize EBITDA and assess earnings quality:
- Stock-based compensation expense (non-cash)
- One-time restructuring costs related to manufacturing scale-up in 2023
- Non-recurring legal and consulting fees associated with intellectual property licensing agreements
After adjustments, the normalized EBITDA margin improved from -46% in 2022 to +1.7% in 2024, signaling a transition toward sustainable profitability.
5. Growth Trajectory and Market Position
Amprius is positioned in a high-growth segment of the battery market, with demand driven by electrification trends in automotive and aerospace sectors. The company’s proprietary silicon nanowire technology offers a competitive advantage in energy density and charging speed.
Growth Drivers:
- Expansion of commercial production capacity with new manufacturing facilities planned for 2025-2026
- Strategic partnerships with EV manufacturers and defense contractors
- Ongoing R&D to improve battery cycle life and reduce costs
Risks: Supply chain volatility for raw materials, competition from alternative battery chemistries, and execution risks in scaling manufacturing.
6. Interactive Financial Trend Chart
7. Conclusion and Recommendations
Amprius Technologies’ recent shareholder meeting approval of directors and auditor underscores strong governance foundations. The company’s financials reveal rapid revenue growth, improving margins, and a path toward profitability, supported by innovative technology and expanding market demand.
Investors and acquirers should continue to monitor operational execution risks and working capital management as the company scales. Further due diligence on supply chain resilience and competitive positioning is recommended to validate long-term growth sustainability.
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