Amprius Technologies, Inc. (AMPX): A Bull Case Theory

Published on September 19, 2025 at 4:03 pm by Ricardo Pillai in News, Stock Analysis

We came across a bullish thesis on Amprius Technologies, Inc. on The Edge of Power’s Substack. In this article, we will summarize the bulls’ thesis on AMPX. Amprius Technologies, Inc. ‘s share was trading at $8.37 as of September 15th.

Amprius is beginning to distinguish itself in the battery sector, transitioning from a high-potential R&D story to a company with real revenue, customers, and momentum toward profitability. The firm reported $26.4 million in revenue in the first half of 2025, already surpassing its 2024 full-year total, with Q2 sales of $15.1 million up 350% year-over-year. Growth is broad-based, driven by over 90 paying customers, half of whom are repeat buyers, including Airbus, BAE Systems, AeroVironment, and the U.S. Army. Airbus subsidiary AALTO’s Zephyr drone, powered by Amprius’ silicon-anode batteries, set a world record by flying for 67 consecutive days, highlighting the company’s breakthrough technology in real-world applications.

Its SA102 battery, part of the SiCore platform, delivers industry-leading 450 Wh/kg energy density, extreme temperature resilience, and military-grade safety, and is already shipping. Financially, Amprius posted its first positive gross margin in Q2, flipping from -195% to +9%, a signal of scalable economics. The company leverages contract manufacturing in the U.S. and South Korea, avoiding heavy capital expenditure while securing 1.8 GWh of capacity. Policy tailwinds are accelerating growth, with recent U.S. directives prioritizing domestic drone production and procurement, aligning perfectly with Amprius’ strengths in defense and aerospace.

Expansion opportunities extend into light electric vehicles, where its drop-in replacement batteries offer OEMs immediate performance gains without costly redesigns. Backed by $54 million in cash, no debt, and disciplined execution, Amprius is positioned far ahead of peers still chasing validation. The market continues to price it like a pre-revenue startup, but Amprius is already proving itself in both performance and financial results.

Previously we covered a bullish thesis on Enovix Corporation (ENVX) by jamesfreakinbond84 in February 2025, which highlighted its 3D battery architecture, strong intellectual property, and potential to disrupt the energy storage industry. The company’s stock price has depreciated approximately by 20.38% since our coverage. The thesis still stands as demand for advanced battery technology grows. The Edge of Power shares a similar view on Amprius Technologies, Inc. but emphasizes its proven revenue growth, repeat customers, and path to profitability.