Amprius' path to profitability in focus as revenue growth accelerates

Shares in Amprius Technologies Inc. (NYSE: AMPX), the US-based developer of high-energy-density lithium-ion batteries, have been highly volatile in recent weeks. The stock is currently down 11% over the past week, and more than 30% in the past month. Even so, the stock remains up 59% year-to-date and 256% over the past 12 months.

Amprius has already scaled rapidly from early-stage commercialization, with revenues rising from $2.8 million in 2021 to $73 million in 2025. Looking ahead, Visible Alpha consensus points to a significant acceleration in growth, with revenues expected to reach $132 million in 2026 before climbing to $691 million by 2030.

Further, analysts expect 2027 to be a key turning point, with both operating income and net income projected to turn positive for the first time, signaling that the business could move beyond its investment phase.

The outlook is based on expectations of a rapid increase in manufacturing capacity. Consensus estimates project production to rise to ~360,000 GWh in 2026, from 99,000 GWh in 2025, before expanding to ~639,000 GWh by 2027. The ramp comes as Amprius increasingly relies on a capital-light manufacturing strategy and contract manufacturing partnerships to scale production of its silicon anode batteries, while securing commercial orders from customers in the unmanned aircraft and defense markets.

 This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.