Accounts receivable rose 277.6%.
That is the oddest number in Amprius Technologies' latest filing, especially because the rest of the three months ended June 30, 2026 looked like a business beginning to scale. Revenue more than doubled to $34.0 million, gross margin climbed to 27.3% from 8.9%, and the net loss narrowed to $3.2 million from $6.4 million.
The clean version is easy to tell: SiCore batteries are selling, new customers are arriving, and order volumes are rising alongside gross profit and revenue. The less tidy version is that cash tied up in customer balances and inventory is growing faster than the sales line.
Amprius attributes the revenue increase directly to SiCore batteries, new customers and higher order volumes:
"Revenue increased by $19.0 million, or 126%, to $34.0 million during the three months ended June 30, 2026 from $15.1 million during the same period last year due to a $19.5 million increase in sales of batteries, driven by sales of our SiCore batteries, and the increase in new customers as well as the overall increase in volume of orders from new and existing customers."
Amprius, Form 10-Q, Aug. 6, 2026
That is a substantial operating change, not just a rounding error in a tiny base. It also leaves the collection question sitting in plain view: accounts receivable rose to $40.6 million from $10.8 million, while inventory reached $11.5 million from $4.3 million. Amprius does not say why receivables rose so sharply.
The margin improvement has a similarly concrete explanation. Management points to higher SiCore volume and product mix:
"Gross Profit Gross profit increased by $7.9 million, or 593%, to $9.3 million and by $16.0 million to $15.0 million, during the three and six months ended June 30, 2026, respectively, compared to the same periods last year primarily due to higher sales volume of SiCore batteries, as well as product mix."
Amprius, Form 10-Q, Aug. 6, 2026
Gross profit grew much faster than revenue, and the operating loss narrowed to $4.3 million from $6.8 million. But spending rose too: research and development increased 90% to $4.1 million, while diluted shares rose 17.8% to 143.5 million. The company is adding personnel and technical spending while still operating below break-even.
Cash was $74.5 million at June 30, up 37.5% from a year earlier. The six-month cash-flow disclosure adds a second layer: operating cash use rose to $40.1 million from $18.4 million, with Amprius citing a $20.0 million lease termination payment, the timing of customer receipts, supplier payments, and higher working-capital needs.
The next quarterly report's comparison of accounts receivable, inventory, and customer cash receipts will clarify whether the sales surge is arriving with the same collection pattern. For now, the trade-off is simple enough: more batteries are becoming more revenue, and more revenue is becoming money still waiting to arrive.
Amprius says SiCore battery volume and product mix drove the gross-profit increase in the three months ended June 30, 2026.