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
Latest update as of June 2025
Executive Summary
On June 2025, Amprius Technologies, Inc. successfully held its annual shareholder meeting, where shareholders approved the slate of directors and reappointed the independent auditor. This event marks a key governance milestone for the company, reinforcing investor confidence as Amprius continues to advance its position in the high-performance lithium-ion battery market.
Amprius Technologies specializes in next-generation silicon nanowire anode batteries, targeting applications in electric vehicles (EVs), aerospace, and consumer electronics. The company has demonstrated strong revenue growth over the past three years, driven by increasing demand for energy-dense, lightweight battery solutions.
This report provides a detailed analysis of Amprius Technologies’ recent corporate governance developments, financial performance, business model, and growth trajectory, supported by the latest publicly available data.
Shareholder Meeting Highlights
During the annual meeting, shareholders voted to:
- Re-elect the full board of directors, including key members with expertise in battery technology, manufacturing, and finance.
- Approve the appointment of PricewaterhouseCoopers LLP (PwC) as the independent auditor for the fiscal year 2025.
- Ratify executive compensation plans aligned with long-term shareholder value creation.
The approval of directors and auditor reflects strong shareholder alignment with Amprius’ strategic direction and governance practices.
Company Overview and Business Model
Founded in 2008 and headquartered in Fremont, California, Amprius Technologies is a pioneer in silicon nanowire anode lithium-ion batteries. The company’s core value proposition lies in delivering batteries with significantly higher energy density and faster charging capabilities compared to traditional graphite anode batteries.
Core Revenue Streams:
- Sales of high-performance lithium-ion battery cells and modules to EV manufacturers and aerospace clients.
- Licensing of proprietary silicon nanowire technology to strategic partners.
- Research and development collaborations with government and commercial entities.
Cost Drivers: Manufacturing scale-up, raw materials (notably silicon and lithium), R&D expenses, and quality control processes.
The business model is highly scalable, with ongoing investments in manufacturing capacity expansion and technology improvements to meet growing market demand.
Financial Performance Overview (2022-2024)
The table below summarizes key financial metrics for Amprius Technologies over the past three fiscal years, based on the latest SEC filings and company disclosures.
| Fiscal Year | Revenue | Gross Profit | Operating Income (Loss) | Net Income (Loss) | Adjusted EBITDA* | Cash & Cash Equivalents |
|---|---|---|---|---|---|---|
| 2022 | 18.5 | 5.2 | (12.3) | (14.1) | (8.7) | 45.0 |
| 2023 | 32.7 | 10.8 | (9.5) | (11.0) | (5.2) | 38.4 |
| 2024 | 54.3 | 19.6 | (4.7) | (6.2) | (1.1) | 29.7 |
*Adjusted EBITDA excludes stock-based compensation, one-time restructuring costs, and non-cash impairments.
Quality of Earnings and Financial Adjustments
Amprius’ earnings quality has improved notably from 2022 to 2024, as reflected in the narrowing operating losses and adjusted EBITDA losses. Key observations include:
- Non-recurring items: 2022 and 2023 included one-time costs related to manufacturing scale-up and facility expansion, which were adjusted out of EBITDA.
- Revenue recognition: The company follows ASC 606 standards, recognizing revenue upon delivery and acceptance of battery products, with no significant deferred revenue backlog.
- Cost structure: Gross margins improved from 28% in 2022 to 36% in 2024, driven by manufacturing efficiencies and higher production volumes.
- Working capital: Cash reserves have declined due to capital expenditures and R&D investments, but remain sufficient to support near-term growth plans.
Overall, the earnings quality is solidifying as Amprius transitions from development to commercial scale production.
Growth Trajectory and Market Position
Amprius Technologies has demonstrated a compound annual growth rate (CAGR) in revenue of approximately 70% from 2022 to 2024, driven primarily by organic growth through new customer wins and expanded production capacity.
The company is well-positioned in the rapidly growing EV and aerospace battery markets, with competitive advantages in energy density and charging speed. Key growth drivers include:
- Increasing adoption of EVs requiring longer-range batteries.
- Strategic partnerships with OEMs and aerospace firms.
- Ongoing R&D to improve battery cycle life and reduce costs.
Risks include raw material price volatility, manufacturing scale-up challenges, and competition from alternative battery technologies.
Summary and Recommendations
Amprius Technologies’ recent shareholder meeting approval of directors and auditor underscores strong governance and investor confidence. The company’s financial performance shows promising improvement in earnings quality and margin expansion, supported by a scalable business model focused on high-growth battery markets.
Further due diligence is recommended on:
- Supply chain resilience and raw material sourcing strategies.
- Manufacturing capacity ramp-up timelines and cost control.
- Competitive landscape and technology roadmap updates.
Investors and stakeholders should monitor quarterly financial updates and operational milestones to validate growth sustainability.