Amprius (AMPX) 10-Q 11 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 04, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-04321
Entity Registrant Name	AMPRIUS TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1591811
Entity Address, Address Line One	1180 Page Avenue
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94538
City Area Code	800
Local Phone Number	425-8803
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		84,971,565
Entity Central Index Key	0001899287
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	AMPX
Security Exchange Name	NYSE
Redeemable warrants
Document Information [Line Items]
Title of 12(b) Security	Redeemable warrants, each exercisable for one share of common stock at an exercise price of $11.50
Trading Symbol	AMPX.W
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Assets, Current [Abstract]
Cash and cash equivalents	$ 64,187,000	$ 69,696,000
Accounts receivable	555,000	686,000
Inventories	845,000	500,000
Deferred costs	2,475,000	1,897,000
Prepaid expenses and other current assets	1,841,000	2,394,000
Total current assets	69,903,000	75,173,000
Non-current assets:
Property, plant and equipment, net	4,948,000	4,236,000
Operating lease right-of-use assets, net	7,894,000	2,751,000
Deferred costs	519,000	367,000
Other assets	684,000	644,000
Total assets	83,948,000	83,171,000
Current liabilities:
Accounts payable	1,023,000	1,028,000
Accrued and other current liabilities	3,665,000	2,708,000
Deferred revenue	3,135,000	2,660,000
Operating lease liabilities	1,061,000	521,000
Total current liabilities	8,884,000	6,917,000
Non-current liabilities:
Deferred revenue	902,000	720,000
Operating lease liabilities	7,127,000	2,501,000
Total liabilities	16,913,000	10,138,000
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock; $0.0001 par value; 50,000,000 shares authorized; no shares issued and outstanding.	0	0
Common stock; $0.0001 par value; 950,000,000 shares authorized; 84,971,465 and 84,610,114 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	8,000	8,000
Additional paid-in capital	169,016,000	165,912,000
Accumulated deficit	(101,989,000)	(92,887,000)
Total stockholders’ equity	67,035,000	73,033,000
Total liabilities and stockholders’ equity	$ 83,948,000	$ 83,171,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	950,000,000	950,000,000
Common stock, issued (in shares)	84,971,465	84,971,465
Common stock, outstanding (in shares)	84,610,114	84,610,114

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 679	$ 2,110
Cost of revenue	4,104	3,149
Gross loss	(3,425)	(1,039)
Operating expenses:
Research and development	800	369
Selling, general and administrative	5,526	1,502
Total operating expenses	6,326	1,871
Loss from operations	(9,751)	(2,910)
Other income, net	649	32
Net loss	$ (9,102)	$ (2,878)
Weighted-average common shares outstanding:
Weighted-average common shares outstanding, basic (in shares)	84,645,097	65,774,528
Weighted-average common shares outstanding, diluted (in shares)	84,645,097	65,774,528
Net loss per share of common stock:
Net loss per share of common stock, basic (in dollars per share)	$ (0.11)	$ (0.04)
Net loss per share of common stock, diluted (in dollars per share)	$ (0.11)	$ (0.04)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Previously Reported	Adjustment	Common Stock	Common Stock Previously Reported	Common Stock Revision of Prior Period, Adjustment	Additional Paid-in Capital	Additional Paid-in Capital Previously Reported	Additional Paid-in Capital Revision of Prior Period, Adjustment	Accumulated Deficit	Accumulated Deficit Previously Reported	Accumulated Deficit Adjustment
Beginning Balance (in shares) at Dec. 31, 2021				65,772,001	45,176,145	20,595,856
Beginning Balance at Dec. 31, 2021	$ 13,858	$ 13,858	$ (154)	$ 7	$ 1	$ 6	$ 89,252	$ 89,258	$ (6)	$ (75,401)	$ (75,401)	$ (154)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)				4,549
Exercise of stock options	8						8
Capital contributions from Amprius Holdings	247						247
Stock-based compensation	350						350
Contribution from Amprius Holdings related to stock-based compensation	106						106
Net loss	(2,878)									(2,878)
Ending Balance (in shares) at Mar. 31, 2022				65,776,550
Ending Balance at Mar. 31, 2022	$ 11,537			$ 7			89,963			(78,433)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-02 [Member]
Beginning Balance (in shares) at Dec. 31, 2022	84,610,114			84,610,114
Beginning Balance at Dec. 31, 2022	$ 73,033			$ 8			165,912			(92,887)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with a stock purchase agreement, net of issuance cost (in shares)				331,351
Issuance of common stock in connection with a stock purchase agreement, net of issuance cost	2,376						2,376
Exercise of stock options (in shares)				30,000
Exercise of stock options	2						2
Stock-based compensation	723						723
Contribution from Amprius Holdings related to stock-based compensation	3						3
Net loss	$ (9,102)									(9,102)
Ending Balance (in shares) at Mar. 31, 2023	84,610,114			84,971,465
Ending Balance at Mar. 31, 2023	$ 67,035			$ 8			$ 169,016			$ (101,989)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (9,102,000)	$ (2,878,000)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Stock-based compensation	726,000	456,000
Depreciation and amortization	416,000	358,000
Amortization of deferred costs	134,000	1,252,000
Non-cash operating lease expense	202,000	140,000
Changes in operating assets and liabilities:
Accounts receivable	131,000	(209,000)
Inventories	(345,000)	161,000
Deferred costs	(864,000)	(595,000)
Prepaid expenses and other current assets	553,000	41,000
Accounts payable	59,000	(51,000)
Accrued and other current liabilities	1,120,000	(332,000)
Deferred revenue	657,000	(1,300,000)
Operating lease liabilities	(179,000)	(86,000)
Net cash used in operating activities	(6,492,000)	(3,043,000)
Cash flows from investing activities:
Purchase of property, plant and equipment	(1,140,000)	(34,000)
Net cash used in investing activities	(1,140,000)	(34,000)
Cash flows from financing activities:
Issuance of common stock in connection with a stock purchase agreement	2,389,000	0
Payment of financing costs in connection with a stock purchase agreement	(268,000)	0
Proceeds from exercise of stock options	2,000	8,000
Capital contributions from Amprius Holdings	0	247,000
Payment of transaction and issuance costs in connection with Business Combination and PIPE investment	0	(51,000)
Net cash provided by financing activities	2,123,000	204,000
Net decrease in cash, cash equivalents and restricted cash	(5,509,000)	(2,873,000)
Cash, cash equivalents and restricted cash, beginning of period	69,752,000	11,489,000
Cash, cash equivalents and restricted cash, end of period	64,243,000	8,616,000
Reconciliation of cash, cash equivalents and restricted cash shown on the condensed consolidated balance sheets:
Cash and cash equivalents	64,187,000	8,616,000
Restricted cash included in other assets	56,000	0
Total cash, cash equivalents and restricted cash	$ 64,243,000	$ 8,616,000

Nature of Operations and Organi

Nature of Operations and Organization	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Organization	Nature of Operations and Organization Nature of Operations Amprius Technologies, Inc. (hereafter referred to as the “Company,” “we,” “us,” or “our”) has developed, and since 2018, been in commercial production of lithium-ion batteries for mobility applications leveraging a disruptive silicon anode. Our silicon anode technology is intended to enable batteries with higher energy density, higher power density and fast charging capabilities over a wide range of operating temperatures. Our headquarters is located in Fremont, California. Business Combination During fiscal year 2022, on September 14, 2022 (the “Closing Date”), we completed a business combination pursuant to the Business Combination Agreement, dated May 11, 2022 (the “Business Combination Agreement”), by and among the Company, Amprius Technologies Operating, Inc. (formerly known as Amprius Technologies, Inc. or "Legacy Amprius"), Kensington Capital Acquisition Corp. IV, and Kensington Capital Merger Sub Corp. (“Merger Sub”). Pursuant to the terms of the Business Combination Agreement, Kensington Capital Acquisition Corp. IV changed its jurisdiction of incorporation by domesticating as a corporation incorporated under the laws of the State of Delaware (the “Domestication”), upon which it changed its name to “Amprius Technologies, Inc.,” and a business combination between Kensington Capital Acquisition Corp. IV and Legacy Amprius was effected through the merger of Merger Sub with and into Legacy Amprius, with Legacy Amprius surviving as a wholly owned subsidiary of the Company (together with the Domestication and the other transactions contemplated by the Business Combination Agreement, the “Business Combination”). Unless the context otherwise provides, the “Company” refers (i) prior to the Closing Date, to Legacy Amprius and (ii) on and after the Closing Date, to Amprius Technologies, Inc. and its subsidiaries, including Legacy Amprius. Prior to the Business Combination, Kensington Capital Acquisition Corp. IV is referred to herein as “Kensington.” The Business Combination was treated as a reverse recapitalization. Legacy Amprius was determined as the accounting acquirer and Kensington as the accounting acquiree for financial reporting purposes. Liquidity and Capital Resources Since our inception, we have incurred recurring losses and negative cash flows from operations. During the three months ended March 31, 2023, our net loss was $9.1 million and at March 31, 2023, our accumulated deficit was $102.0 million. We expect to incur additional losses in the future as we scale our business and increase our operating expenditures, such as increasing our research and development spend and headcount. Additionally, we expect to increase our capital expenditures as we plan to build a GWh-scale manufacturing facility in the future. We may need to raise funds in order to meet our future operating and capital expenditure requirements. We may be unable to raise additional funds or enter into such other agreements when needed on favorable terms or at all. If sufficient funding is not raised, we may need to reduce our spending activities, which may negatively affect our ability to achieve our operating goals. To the extent that we raise additional funds by issuing equity securities, our stockholders may experience additional dilution. We had cash and cash equivalents of $64.2 million as of March 31, 2023. We believe that our cash and cash equivalents will be sufficient to fund our operating and capital expenditure requirements over twelve months from the date these financial statements are issued. On September 27, 2022, we entered into a Common Stock Purchase Agreement (“Purchase Agreement”) with B. Riley Principal Capital II, LLC (“BRPC II”), pursuant to which BRPC II committed to purchase up to $200.0 million of our common stock until January 1, 2025, subject to certain contractual terms (the “Committed Equity Financing”). As of March 31, 2023, $197.6 million remained available under the Committed Equity Financing. There can be no assurance that we will be able to raise such amount over the remaining period as the Committed Equity Financing contains certain limitations and conditions. On October 19, 2022, the U.S. Department of Energy (“DOE”) under the Bipartisan Infrastructure Law awarded us a cost-sharing grant of $50.0 million. The grant is dependent upon the successful negotiation of a final contract. There can be no assurance that such negotiation will be successful. Other Risk and Uncertainties We face risks related to the COVID-19 pandemic, which has created significant volatility in the global economy, led to business disruptions, reduced economic activities, and imposition of travel restrictions. Although the COVID-19 pandemic did not have an adverse impact to us to-date, its future development is highly uncertain and cannot be predicted. Even after the COVID-19 pandemic has subsided, our company and our customers may continue to experience its negative effect, which may adversely affect our future financial condition, results of operations and cash flows.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated. The significant accounting policies described below, together with other notes that follow, are an integral part of the condensed consolidated financial statements. In connection with the closing of the Business Combination, whereby Legacy Amprius was determined as the accounting acquirer for accounting and reporting purposes, the historical financial statements of Legacy Amprius became the historical financial statements of the combined company and no goodwill or other intangible assets were recorded. As a result, the accompanying condensed consolidated financial statements reflect (i) the assets and liabilities of Legacy Amprius at their historical cost; (ii) the historical operating results of Legacy Amprius prior to the Business Combination; and (iii) Legacy Amprius’ equity structure, which has been retroactively restated in the comparative period to reflect the number of shares of the Compa ny’s common stock issued to Legacy Amprius stockholders. As such, the shares, corresponding capital amounts, and net loss per share related to Legacy Amprius common stock have been retroactively restated to reflect the effect of the exchange ratio of 1.45590 (the “Exchange Ratio”) established in the Business Combination. Prior to the Business Combination, our financial statements were presented on a carve-out basis using our historical results of operations and historical basis of assets and liabilities derived from the accounting records of our majority stockholder, Amprius, Inc. (“Amprius Holdings”), adjusted as necessary to conform with U.S. GAAP. The underlying assumptions in our presentation of our financial statements prior to the Business Combination include: • Balance sheet includes all of our owned assets, assets assigned or contributed by Amprius Holdings, and liabilities incurred by Amprius Holdings on our behalf. • Statement of operations reflects all activities directly attributable to us, which include an allocation of certain general and administrative expenses of Amprius Holdings. • Certain general and administrative expenses of Amprius Holdings, such as the payroll-related expenses for two executive employees, legal, tax, insurance and accounting fees, were shared between us, Amprius Holdings and its other subsidiaries. Since those two executive employees provided us and Amprius Holdings' other subsidiaries with governance and management oversight, those shared expenses were allocated between us and Amprius Holdings' other subsidiaries. The level of effort spent by Amprius Holdings' executives was not correlated with the level of our business activity, revenue or other financial operating metrics and of Amprius Holdings' other subsidiaries. As a result, those shared expenses were allocated equally between us and Amprius Holdings' other subsidiaries. • Prior to the distribution of Amprius Holdings' other subsidiaries in January 2022 and February 2022, the shared expenses of Amprius Holdings were allocated equally between us and Amprius Holdings' other subsidiaries. After February 2022, those expenses were fully allocated to us. Management believes that the assumptions described above, including the allocation of certain shared expenses, are reasonable and consistently applied for all periods presented prior to the Business Combination. However, the financial statements of that were presented prior to the Business Combination may not be indicative of our future performance and do not necessarily reflect what the financial position, results of operations and cash flows would have been had we operated as a separate and standalone entity. Unaudited Interim Condensed Consolidated Financial Statements The condensed consolidated balance sheet as of December 31, 2022, which has been derived from our audited financial statements as filed in our Annual Report on Form 10-K with the Securities and Exchange Commission (“SEC”) on March 30, 2023, and the unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and applicable rules and regulations of the SEC regarding interim financial reporting. Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative U.S. GAAP included in the Accounting Standards Codification (“ASC”), and Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). The condensed consolidated financial statements have been prepared on a basis consistent with the audited financial statements. In management’s opinion, all adjustments made were normal or recurring in nature and necessary for the fair statement of our financial position as of March 31, 2023 and our results of operations and cash flows during the three months ended March 31, 2023 and 2022. The financial data and other financial information disclosed in the notes to these condensed consolidated financial statements are also unaudited. The results of operations during the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for the full fiscal year or any other period. Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. Emerging Growth Company We are an emerging growth company as defined in Section 2(a) of the Securities Act of 1933 (as amended) (“Securities Act”), and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised accounting standards until private companies are required to comply with such standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. We have elected to not opt out of such extended transition period. This means that when a standard is issued or revised and it has different application dates for public or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt such new or revised standard unless we are no longer deemed an emerging growth company. As a result, the accompanying condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances; the results of which form the basis for making judgements that are not readily apparent from other sources. Actual results could materially differ from management estimates using different assumptions or under different conditions. Our significant accounting estimates include useful lives of property, plant and equipment; valuation of deferred taxes; lower of cost or net realizable adjustment of inventory; carve-out of financial statements including the allocation of assets, liabilities and expenses prior to the Business Combination; incremental borrowing rate used in calculating lease obligations and right-of-use assets; and fair value of common stock prior to the Business Combination and other inputs used to value stock-based compensation awards. Fair Value Measurements We had a money market fund amounting to $41.1 million and $69.4 million as of March 31, 2023 and December 31, 2022, respectively, which was measured at Level 1 fair value based on the active market price of such instrument. We did not have assets or liabilities measured at fair value on a recurring basis using Level 2 or Level 3 inputs as of March 31, 2023 and December 31, 2022. There were no transfers of financial instruments between Level 1, Level 2 and Level 3 during the three months ended March 31, 2023 and 2022. Restricted Cash Restricted cash pertains to cash collateral required by our lessor to satisfy a letter of credit requirement under our lease agreement. Restricted cash, which is included in other assets in the accompanying condensed consolidated balance sheets, was $56 thousand as of March 31, 2023 and December 31, 2022. Concentration of Credit Risk Accounts receivable mainly consist of amounts due from U.S. government agencies or sponsored entities and large public entities which limits our credit risk. Through March 31, 2023, we have not experienced any credit losses. During the three months ended March 31, 2023, three customers represented 34%, 23% and 19% of our revenue. During the three months ended March 31, 2022, three customers represented 40%, 31% and 19% of our revenue. As of March 31, 2023 and December 31, 2022, two and three customers represented 65% and 88%, respectively, of our total accounts receivable. Segment Reporting We have determined that the Chief Executive Officer is our Chief Operating Decision Maker (“CODM”). The CODM reviews financial information presented on an aggregate basis for the purposes of assessing our performance and making decisions on how to allocate resources. Accordingly, we have determined that we operate in a single operating and reportable segment. All of our revenues are geographically earned in the United States and our property, plant and equipment are located in the United States. Significant Accounting Policies There have been no changes to our significant accounting policies described in the Annual Report on Form 10-K for the year ended December 31, 2022, other than the new accounting policy that was implemented as a result of the adoption of a new accounting standard as described below. Recently Adopted Accounting Standard On January 1, 2023, we adopted FASB ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and related amendment under ASU 2019-10, which requires that credit losses on financial assets, such as trade and other receivables, be recognized as allowance for losses. Credit losses on trade and other receivables will reflect the current estimate of the expected credit losses that generally will result in the earlier recognition of allowances for losses. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue Revenue from customers consists mainly of customized design services arrangements and sale of battery products. Revenue from customized design services arrangements, which may include a requirement to achieve certain agreed upon milestones, is recognized when the battery design is completed and the final prototype batteries are delivered. Revenue from sale of battery products is recognized upon shipment. We disaggregate our revenue from customers by the type of arrangement, either as customization design services or as sale of battery products, as this depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The table below shows the composition of revenue from customers, as disaggregated by type of arrangement in accordance with Topic 606, and other revenue from a government grant accounted for using the analogy from IAS 20 (in thousands). Three months ended March 31, 2023 2022 Revenue from customers: Sale of battery products $ 470 $ 605 Customized design services — 1,505 Total revenue from customers 470 2,110 Other revenue – government grant 209 — Total revenue $ 679 $ 2,110 Revenue from sale of batteries includes bill-and-hold arrangements, of which there was none during the three months ended March 31, 2023 and $67 thousand during the three months ended March 31, 2022. Contract Balances The timing of revenue recognition, billings and cash collections can result in accounts receivable, contract assets recorded as unbilled receivables, and contract liabilities recorded as deferred revenue. Accounts receivable represents our right to consideration that is unconditional. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. Accounts receivable was $0.6 million, $0.7 million and $0.3 million as of March 31, 2023, December 31, 2022 and January 1, 2022, respectively. Contract assets primarily relate to the rights to consideration for progress on contractual requirements performed but not billed at the reporting date. The contract assets are transferred to accounts receivable when the rights become unconditional. As of March 31, 2023 and December 31, 2022, we had no contract assets. Contract liabilities consist primarily of deferred revenue, w hich is the amount of progress payments received or billed in advance of revenue recognition. Deferred revenue is subsequently recognized as revenue when the performance obligation is satisfied. Deferred revenue was $4.0 million, $3.4 million and $2.9 million as of March 31, 2023, December 31, 2022 and January 1, 2022, respectively. Deferred revenue as of March 31, 2023 and December 31, 2022 increased compared to the deferred revenue as of December 31, 2022 and January 1, 2022, respectively, primarily due to progress payments for certain customer contracts that have not been recognized as revenue as of the end of those periods. During the three months ended March 31, 2023 and 2022, revenue recognized from the prior year deferred revenue balance was $120 thousand and $1.4 million, respectively. Remaining Performance Obligations We have performance obligations associated with commitments in customer contracts for future services that have not yet been recognized as revenue. As of March 31, 2023, the aggregate amount of the transaction price allocated to the remaining performance obligations related to customer contracts that were unsatisfied or partially unsatisfied, including deferred revenue, was approximately $11.0 million. Given the applicable contract terms, approximately $7.1 million is expected to be recognized as revenue within one year and approximately $3.9 million is expected to be recognized between two to five years. This amount does not include contracts to which the customer is not committed. The estimated timing of the recognition of remaining unsatisfied performance obligations is subject to change and is affected by changes to scope, changes in timing of delivery of products and services, or contract modifications.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following (in thousands): March 31, December 31, 2023 2022 Raw materials $ 164 $ 180 Work in process 395 218 Finished goods 286 102 Inventories, net $ 845 $ 500

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net Property, plant and equipment, net consisted of the following (in thousands): March 31, December 31, 2023 2022 Production equipment $ 5,114 $ 4,488 Lab equipment 2,452 2,304 Leasehold improvements 4,080 3,525 Furniture, fixtures and other equipment 360 206 Construction in progress 602 957 Property, plant and equipment, at cost 12,608 11,480 Less: accumulated depreciation and amortization (7,660) (7,244) Property, plant and equipment, net $ 4,948 $ 4,236

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following (in thousands): March 31, December 31, 2023 2022 Accrued professional fees $ 2,406 $ 481 Accrued compensation and benefits 1,105 1,840 Accrued financing costs 31 194 Other 123 193 Accrued and other current liabilities $ 3,665 $ 2,708

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common and Preferred Stock As of March 31, 2023, we had a total of 1,000,000,000 shares of stock authorized to be issued, of which 950,000,000 shares are designated as common stock, $0.0001 par value per share, and 50,000,000 shares are designated as preferred stock, $0.0001 par value per share. Holders of common stock are entitled to one vote for each share held and entitled to receive dividends when and if declared by the board of directors. Through and as of March 31, 2023, we have not declared any dividends. Equity Incentive Plans We adopted the 2022 Equity Incentive Plan (“2022 Plan”) effective September 14, 2022. The 2022 Plan authorizes awards in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, or performance awards and may be granted to directors, employees or consultants. As of March 31, 2023, the total number of shares reserved for issuance under the 2022 Plan was 13,915,807, which includes the increase in shares reserved pursuant to the evergreen provisions contained in the 2022 Plan and the assumed awards that were cancelled, expired or otherwise terminated without having been exercised in full, were tendered to or withheld for payment of an exercise price or for tax withholding obligations, or were forfeited to or repurchased due to failure to vest. The number of shares available for issuance under the 2022 Plan may be increased annually at the beginning of the fiscal year, subject to certain limitations. The Amprius Technologies, Inc. 2016 Equity Incentive Plan (“2016 Plan”), which we maintained prior to the Business Combination, was terminated concurrently with the adoption of the 2022 Plan. However, the 2016 Plan continues to govern the terms and conditions of the outstanding awards previously granted under the 2016 Plan. The 2022 Plan and 2016 Plan are collectively referred to as the “Equity Incentive Plans.” Stock Options Stock options granted under the Equity Incentive Plans provided an exercise price not less than 100% of the fair value at the grant date, unless the optionee is a 10% stockholder, in which case the option price will not be less than 110% of such fair market value. Options granted generally have a maximum term of 10 years from grant date or 90 days from the termination of the optionee, are exercisable upon vesting unless otherwise designated for early exercise by the Board of Directors at the time of grant, and generally vest over a period of four years. As of March 31, 2023, the total unrecognized stock-based compensation expense related to the unvested stock options was approximately $7.7 million, which we expect to recognize over a weighted-average period of 2.9 years. Restricted Stock Units (“RSU”) The fair value of RSUs is determined based upon the market closing price of our common stock on the date of grant. RSUs generally vest over a period of approximately four years from the date of grant, subject to the continued employment or services of the grantee . As of March 31, 2023, the total unrecognized stock-based compensation expense related to the unvested RSUs was approximately $2.4 million, which we expect to recognize over a weighted-average period of 3.8 years. Amprius Holdings 2008 Stock Plan The stock-based compensation costs associated with grants to certain individuals who provided services to our company under the Amprius Holdings 2008 Stock Plan were included in the accompanying condensed consolidated statements of operations, with a corresponding increase in additional paid-in capital. The remaining unrecognized compensation cost as of March 31, 2023 was not material. Employee Stock Purchase Plan (“ESPP”) We adopted the 2022 Employee Stock Purchase Plan (“ESPP”) effective September 14, 2022. As of March 31, 2023, the total number of shares reserved for issuance was 1,836,101, which may be increased annually at the beginning of the fiscal year subject to certain limitations. The ESPP is intended to qualify under Section 423 of the Internal Revenue Code of 1986 (as amended) and will provide eligible employees an opportunity to purchase our common stock at a discount through payroll deductions. We have not established an offering under the ESPP as of March 31, 2023. Executive Incentive Compensation Plan On September 14, 2022, our board of directors approved our Executive Incentive Compensation Plan, which will allow us to grant incentive awards to certain executive employees, generally payable in cash, based upon achieving specified goals. We have the right to settle the award by granting an equity award, which may be subject to vesting conditions. All awards under the Executive Incentive Compensation Plan will be subject to reduction, cancellation, forfeiture, or recoupment in accordance with any clawback policy that we are required to adopt pursuant to applicable laws. As of March 31, 2023, there were no awards granted under the Executive Incentive Compensation Plan. Common Stock Warrants Outstanding stock warrants consisted of the following as of March 31, 2023: Number of Exercise Price Expiration Date Public warrants 29,268,336 $ 11.50 September 14, 2027 Private warrants 16,400,000 $ 11.50 September 14, 2027 PIPE warrants 2,052,500 $ 12.50 September 14, 2027 Total warrants 47,720,836 Holders of the public warrants and private warrants are entitled to purchase one share our common stock at a price of $11.50 per share subject to adjustment pursuant to the Warrant Agreement, dated as of March 1, 2022. The public warrants are listed on the NYSE and are redeemable by us when the price per share of our common stock equals or exceeds $18.00 per share for at least 20 trading days during a period of 30 consecutive trading days prior to the redemption date. The private warrants are not listed on any securities exchange and not redeemable. The warrants issued as part of units in a private placement in connection with the Business Combination (the “PIPE warrants”) are substantially identical to the public warrants, except that the exercise price of each PIPE warrant is $12.50 per share. In addition, we may only be able to redeem the PIPE warrants if the price per share of our common stock equals or exceeds $20.00 per share for at least 20 trading days during a period of 30 consecutive trading days prior to the redemption date. The PIPE warrants are also not listed on any securities exchange. The warrants described above are classified as equity in accordance with the guidance under ASC 815-40, Derivatives and Hedging–Contracts in Entity’s Own Equity . Equity-classified contracts, such as stock warrants, are initially measured at fair value or allocated value. Any subsequent changes in fair value are not recognized as long as the contracts continue to be classified in equity. Stock Purchase Agreement On September 27, 2022, we entered into the Purchase Agreement with BRPC II, pursuant to which we, at our option, have the right to sell to BRPC II up to $200.0 million of our common stock until January 1, 2025, subject to certain contractual terms. The purchase price will be determined by reference to the volume weighted average price of our common stock (as defined in the Purchase Agreement), less a discount of 3%. We cannot issue to BRPC II more than 19.99% of the aggregate number of shares of the common stock issued and outstanding immediately prior to the execution of the Purchase Agreement, except in limited circumstances. Proceeds from the sale of our common stock to BRPC II will depend upon the frequency and the market price of our common stock on the date of sale. During the three months ended March 31, 2023, we issued a total of 331,351 shares of common stock to BRPC II with proceeds totaling $2.4 million. The deferred stock issuance cost, which is included in other assets in the accompanying condensed consolidated balance sheets and will be charged proportionally against the proceeds from future issuance of shares to BRPC II under the Purchase Agreement, was $0.6 million as of March 31, 2023. Stock-Based Compensation Stock-based compensation from stock options and RSUs under the Equity Incentive Plans and from stock options under the Amprius Holdings 2008 Stock Plan that we recorded were included in the following lines in the accompanying condensed consolidated statements of operations during the periods presented (in thousands) : Three months ended March 31, 2023 2023 2022 Cost of revenue $ 169 $ 113 Research and development 20 6 Selling, general and administrative 537 337 Total stock-based compensation expense $ 726 $ 456

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesWe have no income tax expense as a result of the continued generation of net operating losses (“NOLs”) offset by a full valuation allowance recorded on such NOLs, as we determined it is not more-likely-than-not that our NOLs will be utilized.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	LeasesWe have a non-cancelable operating lease for our corporate headquarters and facilities in Fremont, California. On January 4, 2023, we entered into an amendment of such lease, which includes the lease of additional space in the same building and extending the lease term to end on June 30, 2027, with an option to extend for an additional five-year term. Our operating lease does not contain any material residual value guarantees. We had no leases that were classified as a financing lease as of March 31, 2023. As of March 31, 2023, the weighted-average remaining term of the operating lease was 9.3 years and the weighted-average discount rate used to estimate the net present value of the operating lease liabilities was 7.9%. During the three months ended March 31, 2023, the total amount of right-of-use assets obtained in exchange for new operating lease liabilities was $5.2 million. The total amount paid for amounts included in the measurement of operating lease liabilities was $179 thousand and $86 thousand during the three months ended March 31, 2023 and 2022, respectively. Operating lease expense was $202 thousand and $140 thousand during the three months ended March 31, 2023 and 2022, respectively. Variable lease expense was not material. Future operating lease payments as of March 31, 2023 were as follows (in thousands): Year ending December 31: Amount Remainder of 2023 $ 822 2024 1,126 2025 1,158 2026 1,193 2027 1,241 2028 1,278 Thereafter 4,729 Gross lease payments 11,547 Less - present value adjustments (3,359) Total operating lease liabilities $ 8,188

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesFrom time to time, we may be involved in lawsuits, claims or legal proceedings that arise in the ordinary course of business. We accrue a contingent liability when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Management believes that there are no claims against us for which the outcome is expected to have a material effect on our financial position, results of operations or cash flows .

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts) : Three months ended March 31, 2023 2022 Numerator: Net loss $ (9,102) $ (2,878) Denominator: Weighted-average number of common shares outstanding 84,645,097 65,774,528 Basic and diluted net loss per common share $ (0.11) $ (0.04) The following table summarizes the outstanding shares of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive: Three months ended March 31, 2023 2022 Stock warrants 47,720,836 — Stock options 13,971,079 10,351,020 RSUs 295,000 — Total 61,986,915 10,351,020

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events Brighton, Colorado Lease On April 15, 2023, we entered into a lease agreement to lease a space for our GWh-scale manufacturing facility in Brighton, Colorado. The lease expires in May 2039, with an option to extend for two additional five-year terms. Future lease payments, which commence in December 2024 after the rent abatement period, total approximately $62.9 million. The current zoning for this site does not allow for manufacturing our batteries. As such, the property owner is in the process of applying to re-zone the site for our planned development and use. Until the re-zoning is complete, we will not be able to apply for permits required to repurpose the facility for manufacturing. If the re-zoning application is not approved, the lease agreement will automatically terminate. Merger with Amprius Holdings On May 9, 2023, we entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with, among others, Amprius Holdings. Under the Merger Agreement, through a series of transactions that are intended to qualify as a tax-free reorganization for U.S. income tax purposes, Amprius Holdings will become our wholly owned subsidiary and then be merged into another wholly owned subsidiary, with such other subsidiary surviving. Subject to the terms and conditions in the Merger Agreement, the shares of our common stock currently owned by Amprius Holdings will be cancelled, and we will issue to the stockholders of Amprius Holdings new shares of our common stock or shares of our non-voting common stock based on a negotiated and discounted exchange ratio. Furthermore, the options in Amprius Holdings, whether vested or unvested, to purchase Amprius Holdings stock shall be converted into options to purchase shares of our common stock and the warrants to purchase Amprius Holdings stock shall automatically be replaced with warrants representing the right to receive shares of our common stock on a net-exercise basis. The transactions contemplated by the Merger Agreement are conditioned on, among other items, the approval of a majority of shares held by our stockholders that are not affiliated with either Amprius Holdings or held by any of our directors or officers.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated. The significant accounting policies described below, together with other notes that follow, are an integral part of the condensed consolidated financial statements. In connection with the closing of the Business Combination, whereby Legacy Amprius was determined as the accounting acquirer for accounting and reporting purposes, the historical financial statements of Legacy Amprius became the historical financial statements of the combined company and no goodwill or other intangible assets were recorded. As a result, the accompanying condensed consolidated financial statements reflect (i) the assets and liabilities of Legacy Amprius at their historical cost; (ii) the historical operating results of Legacy Amprius prior to the Business Combination; and (iii) Legacy Amprius’ equity structure, which has been retroactively restated in the comparative period to reflect the number of shares of the Compa ny’s common stock issued to Legacy Amprius stockholders. As such, the shares, corresponding capital amounts, and net loss per share related to Legacy Amprius common stock have been retroactively restated to reflect the effect of the exchange ratio of 1.45590 (the “Exchange Ratio”) established in the Business Combination. Prior to the Business Combination, our financial statements were presented on a carve-out basis using our historical results of operations and historical basis of assets and liabilities derived from the accounting records of our majority stockholder, Amprius, Inc. (“Amprius Holdings”), adjusted as necessary to conform with U.S. GAAP. The underlying assumptions in our presentation of our financial statements prior to the Business Combination include: • Balance sheet includes all of our owned assets, assets assigned or contributed by Amprius Holdings, and liabilities incurred by Amprius Holdings on our behalf. • Statement of operations reflects all activities directly attributable to us, which include an allocation of certain general and administrative expenses of Amprius Holdings. • Certain general and administrative expenses of Amprius Holdings, such as the payroll-related expenses for two executive employees, legal, tax, insurance and accounting fees, were shared between us, Amprius Holdings and its other subsidiaries. Since those two executive employees provided us and Amprius Holdings' other subsidiaries with governance and management oversight, those shared expenses were allocated between us and Amprius Holdings' other subsidiaries. The level of effort spent by Amprius Holdings' executives was not correlated with the level of our business activity, revenue or other financial operating metrics and of Amprius Holdings' other subsidiaries. As a result, those shared expenses were allocated equally between us and Amprius Holdings' other subsidiaries. • Prior to the distribution of Amprius Holdings' other subsidiaries in January 2022 and February 2022, the shared expenses of Amprius Holdings were allocated equally between us and Amprius Holdings' other subsidiaries. After February 2022, those expenses were fully allocated to us. Management believes that the assumptions described above, including the allocation of certain shared expenses, are reasonable and consistently applied for all periods presented prior to the Business Combination. However, the financial statements of that were presented prior to the Business Combination may not be indicative of our future performance and
Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated. The significant accounting policies described below, together with other notes that follow, are an integral part of the condensed consolidated financial statements. In connection with the closing of the Business Combination, whereby Legacy Amprius was determined as the accounting acquirer for accounting and reporting purposes, the historical financial statements of Legacy Amprius became the historical financial statements of the combined company and no goodwill or other intangible assets were recorded. As a result, the accompanying condensed consolidated financial statements reflect (i) the assets and liabilities of Legacy Amprius at their historical cost; (ii) the historical operating results of Legacy Amprius prior to the Business Combination; and (iii) Legacy Amprius’ equity structure, which has been retroactively restated in the comparative period to reflect the number of shares of the Compa ny’s common stock issued to Legacy Amprius stockholders. As such, the shares, corresponding capital amounts, and net loss per share related to Legacy Amprius common stock have been retroactively restated to reflect the effect of the exchange ratio of 1.45590 (the “Exchange Ratio”) established in the Business Combination. Prior to the Business Combination, our financial statements were presented on a carve-out basis using our historical results of operations and historical basis of assets and liabilities derived from the accounting records of our majority stockholder, Amprius, Inc. (“Amprius Holdings”), adjusted as necessary to conform with U.S. GAAP. The underlying assumptions in our presentation of our financial statements prior to the Business Combination include: • Balance sheet includes all of our owned assets, assets assigned or contributed by Amprius Holdings, and liabilities incurred by Amprius Holdings on our behalf. • Statement of operations reflects all activities directly attributable to us, which include an allocation of certain general and administrative expenses of Amprius Holdings. • Certain general and administrative expenses of Amprius Holdings, such as the payroll-related expenses for two executive employees, legal, tax, insurance and accounting fees, were shared between us, Amprius Holdings and its other subsidiaries. Since those two executive employees provided us and Amprius Holdings' other subsidiaries with governance and management oversight, those shared expenses were allocated between us and Amprius Holdings' other subsidiaries. The level of effort spent by Amprius Holdings' executives was not correlated with the level of our business activity, revenue or other financial operating metrics and of Amprius Holdings' other subsidiaries. As a result, those shared expenses were allocated equally between us and Amprius Holdings' other subsidiaries. • Prior to the distribution of Amprius Holdings' other subsidiaries in January 2022 and February 2022, the shared expenses of Amprius Holdings were allocated equally between us and Amprius Holdings' other subsidiaries. After February 2022, those expenses were fully allocated to us. Management believes that the assumptions described above, including the allocation of certain shared expenses, are reasonable and consistently applied for all periods presented prior to the Business Combination. However, the financial statements of that were presented prior to the Business Combination may not be indicative of our future performance and
Unaudited Interim Condensed Consolidated Financial Statements	Unaudited Interim Condensed Consolidated Financial Statements The condensed consolidated balance sheet as of December 31, 2022, which has been derived from our audited financial statements as filed in our Annual Report on Form 10-K with the Securities and Exchange Commission (“SEC”) on March 30, 2023, and the unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and applicable rules and regulations of the SEC regarding interim financial reporting. Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative U.S. GAAP included in the Accounting Standards Codification (“ASC”), and Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). The condensed consolidated financial statements have been prepared on a basis consistent with the audited financial statements. In management’s opinion, all adjustments made were normal or recurring in nature and necessary for the fair statement of our financial position as of March 31, 2023 and our results of operations and cash flows during the three months ended March 31, 2023 and 2022. The financial data and other financial information disclosed in the notes to these condensed consolidated financial statements are also unaudited. The results of operations during the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for the full fiscal year or any other period. Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading.
Emerging Growth Company	Emerging Growth Company We are an emerging growth company as defined in Section 2(a) of the Securities Act of 1933 (as amended) (“Securities Act”), and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised accounting standards until private companies are required to comply with such standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. We have elected to not opt out of such extended transition period. This means that when a standard is issued or revised and it has different application dates for public or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt such new or revised standard unless we are no longer deemed an emerging growth company. As a result, the accompanying condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances; the results of which form the basis for making judgements that are not readily apparent from other sources. Actual results could materially differ from management estimates using different assumptions or under different conditions.
Restricted Cash	Restricted CashRestricted cash pertains to cash collateral required by our lessor to satisfy a letter of credit requirement under our lease agreement.
Concentration of Credit Risk	Concentration of Credit RiskAccounts receivable mainly consist of amounts due from U.S. government agencies or sponsored entities and large public entities which limits our credit risk. Through March 31, 2023, we have not experienced any credit losses.
Segment Reporting	Segment Reporting We have determined that the Chief Executive Officer is our Chief Operating Decision Maker (“CODM”). The CODM reviews financial information presented on an aggregate basis for the purposes of assessing our performance and making decisions on how to allocate resources. Accordingly, we have determined that we operate in a single operating and reportable segment. All of our revenues are geographically earned in the United States and our property, plant and equipment are located in the United States.
Recently Adopted Accounting Standard	Recently Adopted Accounting Standard On January 1, 2023, we adopted FASB ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and related amendment under ASU 2019-10, which requires that credit losses on financial assets, such as trade and other receivables, be recognized as allowance for losses. Credit losses on trade and other receivables will reflect the current estimate of the expected credit losses that generally will result in the earlier recognition of allowances for losses. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Composition of Revenue	The table below shows the composition of revenue from customers, as disaggregated by type of arrangement in accordance with Topic 606, and other revenue from a government grant accounted for using the analogy from IAS 20 (in thousands). Three months ended March 31, 2023 2022 Revenue from customers: Sale of battery products $ 470 $ 605 Customized design services — 1,505 Total revenue from customers 470 2,110 Other revenue – government grant 209 — Total revenue $ 679 $ 2,110

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following (in thousands): March 31, December 31, 2023 2022 Raw materials $ 164 $ 180 Work in process 395 218 Finished goods 286 102 Inventories, net $ 845 $ 500

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property, plant and equipment, net consisted of the following (in thousands): March 31, December 31, 2023 2022 Production equipment $ 5,114 $ 4,488 Lab equipment 2,452 2,304 Leasehold improvements 4,080 3,525 Furniture, fixtures and other equipment 360 206 Construction in progress 602 957 Property, plant and equipment, at cost 12,608 11,480 Less: accumulated depreciation and amortization (7,660) (7,244) Property, plant and equipment, net $ 4,948 $ 4,236

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following (in thousands): March 31, December 31, 2023 2022 Accrued professional fees $ 2,406 $ 481 Accrued compensation and benefits 1,105 1,840 Accrued financing costs 31 194 Other 123 193 Accrued and other current liabilities $ 3,665 $ 2,708

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Summary of Outstanding Stock Warrants	Outstanding stock warrants consisted of the following as of March 31, 2023: Number of Exercise Price Expiration Date Public warrants 29,268,336 $ 11.50 September 14, 2027 Private warrants 16,400,000 $ 11.50 September 14, 2027 PIPE warrants 2,052,500 $ 12.50 September 14, 2027 Total warrants 47,720,836
Summary of Stock-Based Compensation Expense	Stock-based compensation from stock options and RSUs under the Equity Incentive Plans and from stock options under the Amprius Holdings 2008 Stock Plan that we recorded were included in the following lines in the accompanying condensed consolidated statements of operations during the periods presented (in thousands) : Three months ended March 31, 2023 2023 2022 Cost of revenue $ 169 $ 113 Research and development 20 6 Selling, general and administrative 537 337 Total stock-based compensation expense $ 726 $ 456

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Future Maturing Operating Lease Payments	Future operating lease payments as of March 31, 2023 were as follows (in thousands): Year ending December 31: Amount Remainder of 2023 $ 822 2024 1,126 2025 1,158 2026 1,193 2027 1,241 2028 1,278 Thereafter 4,729 Gross lease payments 11,547 Less - present value adjustments (3,359) Total operating lease liabilities $ 8,188

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Loss Per Share	The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts) : Three months ended March 31, 2023 2022 Numerator: Net loss $ (9,102) $ (2,878) Denominator: Weighted-average number of common shares outstanding 84,645,097 65,774,528 Basic and diluted net loss per common share $ (0.11) $ (0.04)
Schedule of Potentially Dilutive Securities	The following table summarizes the outstanding shares of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive: Three months ended March 31, 2023 2022 Stock warrants 47,720,836 — Stock options 13,971,079 10,351,020 RSUs 295,000 — Total 61,986,915 10,351,020

Nature of Operations and Orga_2

Nature of Operations and Organization - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Oct. 19, 2022
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Net loss	$ 9,102,000	$ 2,878,000
Accumulated deficit	101,989,000		$ 92,887,000
Cash and cash equivalents	64,187,000	$ 8,616,000	$ 69,696,000
Committed equity financing balance	197,600,000
Grant not yet received				$ 50,000,000
Common Stock Purchase Agreement | Maximum
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Consideration received	$ 200,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) executiveEmployee	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Sep. 14, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Recapitalization exchange ratio				1.45590
Number of executive employees of parent sharing facilities costs (in executive employees) | executiveEmployee	2
Restricted cash included in other assets	$ 56	$ 0	$ 56
Level 1 | Money Market Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash equivalents	$ 41,100		$ 69,400
Revenue benchmark | Customer concentration risk | Customer One
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage	34%	40%
Revenue benchmark | Customer concentration risk | Customer Two
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage	23%	31%
Revenue benchmark | Customer concentration risk | Customer Three
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage	19%	19%
Accounts receivable | Customer concentration risk | Three customers
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage	65%
Accounts receivable | Customer concentration risk | Five customers
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage			88%

Revenue - Schedule of Compositi

Revenue - Schedule of Composition of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 679	$ 2,110
Total revenue from customers
Disaggregation of Revenue [Line Items]
Revenue	470	2,110
Sale of battery products
Disaggregation of Revenue [Line Items]
Revenue	470	605
Customized design services
Disaggregation of Revenue [Line Items]
Revenue	0	1,505
Other revenue – government grant
Disaggregation of Revenue [Line Items]
Revenue	$ 209	$ 0

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 01, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 679,000	$ 2,110,000
Accounts receivable	555,000		$ 686,000	$ 300,000
Contract asset	0	0
Contract liability	4,000,000		$ 3,400,000	$ 2,900,000
Revenue recognized	120,000	1,400,000
Bill-and-hold
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 67,000

Revenue - Performance Obligatio

Revenue - Performance Obligation (Details) $ in Millions	Mar. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 11
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 7.1
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 3.9
Revenue, remaining performance obligation, period	4 years

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 164,000	$ 180,000
Work in process	395,000	218,000
Finished goods	286,000	102,000
Inventories, net	$ 845,000	$ 500,000

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 12,608,000	$ 11,480,000
Less: accumulated depreciation and amortization	(7,660,000)	(7,244,000)
Property, plant and equipment, net	4,948,000	4,236,000
Production equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	5,114,000	4,488,000
Lab equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	2,452,000	2,304,000
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	4,080,000	3,525,000
Furniture, fixtures and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	360,000	206,000
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 602,000	$ 957,000

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 416	$ 358

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued professional fees	$ 2,406	$ 481
Accrued compensation and benefits	1,105	1,840
Accrued financing costs	31	194
Other	123	193
Accrued and other current liabilities	$ 3,665	$ 2,708

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details)			3 Months Ended
	Sep. 27, 2022 USD ($)	Sep. 14, 2022 day $ / shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 USD ($)	Dec. 31, 2022 $ / shares shares	Mar. 01, 2022 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized (in shares) | shares			1,000,000,000
Common stock, authorized (in shares) | shares			950,000,000		950,000,000
Common stock, par value (in dollars per share)			$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares) | shares			50,000,000		50,000,000
Preferred stock, par value (in dollars per share)			$ 0.0001		$ 0.0001
Unrecognized compensation expense | $			$ 7,700,000
Exercise price (in dollars per share)						$ 11.50
Issuance of common stock in connection with a stock purchase agreement | $			$ 2,389,000	$ 0
BRPC II | Common Stock Purchase Agreement
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, purchase agreement, potential maximum consideration | $	$ 200,000,000
Discount on sale of stock (percentage)	3%
Maximum shares available for sale as a percentage of aggregate shares issued and outstanding (percentage)	19.99%
Number of shares issued in transaction (in shares) | shares			331,351
Issuance of common stock in connection with a stock purchase agreement | $			$ 2,400,000
Deferred stock issuance costs | $			$ 600,000
Public warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price (in dollars per share)			$ 11.50
Average price per share of redeemable warrants (in dollars per share)		$ 18
Warrants, redeem, threshold trading days | day		20
Warrants, redeem, threshold consecutive trading days | day		30
Private warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price (in dollars per share)			11.50
PIPE warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price (in dollars per share)			$ 12.50
Average price per share of redeemable warrants (in dollars per share)		$ 20
Warrants, redeem, threshold trading days | day		20
Warrants, redeem, threshold consecutive trading days | day		30
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period			4 years
Weighted average period to be recognized			3 years 9 months 18 days
Unrecognized compensation cost | $			$ 2,400,000
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average period to be recognized			2 years 10 months 24 days
2022 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares available for future issuance (in shares) | shares			13,915,807
Equity Incentive Plans
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price as a percentage of fair value			100%
Stockholder Percentage Of Optionee For Option Price			10%
Exercise price as a percentage of fair value, ten percent stockholders			110%
Award expiration period			10 years
Equity Incentive Plans | Employee stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period			4 years
Employee Stock Purchase Plan | Employee stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Reserved for issuance (Shares) | shares			1,836,101
Executive Incentive Compensation Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares) | shares			0

Stockholders' Equity - Stock Wa

Stockholders' Equity - Stock Warrant (Details) - $ / shares	Mar. 31, 2023	Mar. 01, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding (in shares)	47,720,836
Exercise price (in dollars per share)		$ 11.50
Public warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding (in shares)	29,268,336
Exercise price (in dollars per share)	$ 11.50
Private warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding (in shares)	16,400,000
Exercise price (in dollars per share)	$ 11.50
PIPE warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding (in shares)	2,052,500
Exercise price (in dollars per share)	$ 12.50

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 726	$ 456
Cost of revenue
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	169	113
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	20	6
Selling, general and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 537	$ 337

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Income tax expense	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) lease	Mar. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Lease renewal term (in years)	5 years
Number of finance leases (in leases) | lease	0
Weighted-average remaining term (in years)	9 years 3 months 18 days
Net present value of operating lease liabilities	7.90%
Right-of-use asset obtained in exchange for operating lease liability	$ 5,200
Operating lease payments	179
Operating lease expense	202	$ 140
Amprius Holdings
Lessee, Lease, Description [Line Items]
Operating lease payments	$ 86

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturing Operating Lease Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Leases [Abstract]
Remainder of 2023	$ 822
2024	1,126
2025	1,158
2026	1,193
2027	1,241
2028	1,278
Thereafter	4,729
Gross lease payments	11,547
Less - present value adjustments	(3,359)
Total operating lease liabilities	$ 8,188

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net loss	$ (9,102)	$ (2,878)
Net loss	$ (9,102)	$ (2,878)
Denominator:
Weighted-average common shares outstanding, basic (in shares)	84,645,097	65,774,528
Weighted-average common shares outstanding, diluted (in shares)	84,645,097	65,774,528
Net loss per common shares, basic (in dollars per share)	$ (0.11)	$ (0.04)
Net loss per common shares, diluted (in dollars per share)	$ (0.11)	$ (0.04)

Net Loss Per Share - Potentiall

Net Loss Per Share - Potentially Dilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computation of net loss per share (in shares)	61,986,915	10,351,020
Stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computation of net loss per share (in shares)	47,720,836	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computation of net loss per share (in shares)	13,971,079	10,351,020
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computation of net loss per share (in shares)	295,000	0

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) $ in Thousands	Apr. 15, 2023 USD ($) term	Mar. 31, 2023 USD ($)
Subsequent Event [Line Items]
Lease renewal term		5 years
Future lease payments		$ 11,547
Subsequent Events | Brighton, Colorado
Subsequent Event [Line Items]
Number of extension terms | term	2
Lease renewal term	5 years
Future lease payments	$ 62,900