AMPXAmprius Technologies, Inc.

Miscellaneous Electrical Machinery, Equipment & Supplies

Revenue: $72M; 205% YoY
Operating margin: -64.9%; 67% YoY
EBITDA: −$42M; 0.4% YoY
Market cap: $1.3B
Employees: —
Net debt / EBITDA: —
AI in 10-K: 0.0; mentions per 10K words

Takeover score 5 of 13

Fixable underperformance 2 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCYes
10% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentYes
71% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AIYes
0.0 per 10K words · 0th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$1.3B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$86M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$3M	$4M	$9M	$24M	$72M	205%
Operating income	−$11M	−$18M	−$39M	−$46M	−$47M	0.8%
Net income	−$10M	−$17M	−$37M	−$45M	−$44M	1.4%
Operating cash flow	−$8M	−$14M	−$26M	−$33M	−$31M	6.7%
Capex	$609K	$1M	$18M	$3M	$4M	37%
Stock-based comp	$2M	$3M	$4M	$7M	$7M	0.9%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Oct 28, 2024	DIXON DONALD R	SC 13D	6.5%	Passive
Oct 25, 2024	Amprius, Inc.	SC 13D/A	2.4%	Passive
Oct 25, 2024	Sun Kang	SC 13D	6.8%	Active
May 12, 2023	Amprius, Inc.	SC 13D/A	77.1%	Passive
Sep 23, 2022	Kensington Capital Sponsor IV LLC	SC 13D/A	9.7%	Passive
Sep 19, 2022	Amprius, Inc.	SC 13D	77.8%	Active
May 13, 2022	Kensington Capital Partners, LLC	SC 13D/A	39.9%	Passive
Mar 18, 2022	Kensington Capital Partners, LLC	SC 13D	39.9%	Passive

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $86M · 37
Net: −$86M

Pay vs performance

No pay-versus-performance disclosure yet.