Roth Capital Markets analyst Chip Moore raised his 12-month worth goal on Amprius Applied sciences (Amprius Applied sciences Inventory Quote, Chart, Information, Analysts, Financials NYSE:AMPX) to US$14 from US$10 whereas sustaining a “Purchase” ranking in an Oct. 22 report, citing continued business momentum, rising demand for its high-energy-density battery options, and prudent capability growth.
“We like administration’s prudent method to scale up, whereas we anticipate demand for the corporate’s main energy-density options to develop considerably within the coming years, with sizable capital-light capability already in place,” Moore mentioned.
Amprius is anticipated to launch its third-quarter ends in early November, with Roth projecting income of US$15.9-million and Adjusted EBITDA of –US$4.6-million, reflecting sequential gross sales development and a second straight quarter of optimistic gross margins pushed by the SiCore platform. Moore cautioned that outcomes might stay “lumpy” because of the early stage of commercialization however mentioned key milestones and buyer adoption are the extra essential indicators of progress.
He famous that SiCore batteries proceed to realize traction, supported by a US$35-million buy order from a repeat drone buyer in mid-September, following an earlier US$15-million order this 12 months. On Oct. 14, Amprius introduced a brand new win with Empirical Techniques Aerospace (ESAero) to be used of its high-power SiCore SA08 cells in UAVs after profitable qualification. European drone producer Nordic Wing additionally selected the corporate’s SiCore cells to energy its ASTERO ISR fixed-wing UAV.
Amprius additionally named Ricardo Rodriguez as chief monetary officer on Oct. 6, finishing a deliberate transition following the retirement of Sandra Wallach. Moore mentioned he views the appointment positively as the corporate enters “the following section of its evolution,” having achieved optimistic gross margins final quarter amid accelerating business momentum.
On the finish of Q2 2025, Amprius had shipped to 93 clients (together with 43 new ones) throughout 86% of gross sales exterior the U.S., with remaining efficiency obligations of roughly US$29.1-million. Money stood at US$54.2-million, with no debt and about US$47.6-million obtainable below its at-the-market providing. The corporate can also be investing in a ten MWh pilot-scale electrode manufacturing line in Fremont, supported by a US$10.5-million U.S. Protection Innovation Unit contract, to additional qualify its drone-grade applied sciences.
Moore mentioned Amprius ought to generate US$64.3-million in income and –US$19.2-million in Adjusted EBITDA in fiscal 2025, enhancing to US$145.8-million in income and –US$2.2-million in fiscal 2026.
Roth’s new US$14 goal relies on an 11.5× a number of of projected 2026 gross sales, up from 8× beforehand.
“Whereas extra unstable on the present scale, we proceed to see sturdy potential for aggressive development traders,” Moore mentioned, including that Amprius’s expertise and positioning in defence and aerospace battery markets “stay compelling.”
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