Amprius Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:08 pm EST
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Amprius Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 2.8 million compared to USD 0.816 million a year ago. Net loss was USD 8.49 million compared to USD 4.24 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.06 a year ago.
For the nine months, sales was USD 5.11 million compared to USD 3.62 million a year ago. Net loss was USD 27.04 million compared to USD 11.28 million a year ago. Basic loss per share from continuing operations was USD 0.32 compared to USD 0.17 a year ago.
Amprius Technologies, Inc. is a manufacturer of energy and power lithium-ion batteries. The Company is engaged in commercial production of an ultra-high energy density lithium-ion battery for mobility applications leveraging disruptive silicon anodes. Its silicon anode technology enables batteries with higher energy density, higher power density, and fast charging capabilities over a range of operating temperatures. The Company's silicon anodes are a direct drop-in replacement of the graphite anode in traditional lithium-ion batteries, and its manufacturing process leverages the manufacturing process for conventional lithium-ion batteries and the related supply chain. Its batteries are primarily used for existing and emerging aviation applications, including unmanned aerial systems (UAS), such as drones and high-altitude pseudo satellites (HAPS). Its technology has the potential for application in electric transportation.