$AMPX consistently beats estimates three times in a row securing significant contracts

Amprius has consistently exceeded expectations for three quarters in a row **$AMPX - beat, raised, margin expanding, nobody’s watching** **Q2 2026:** Revenue $34.0M, +126% YoY, +19% QoQ Gross margin 9% → 20% → 27% in just three quarters, targeting 30%. Adj EBITDA -$1.0M, guiding to +$4M FY Most importantly - Guidance raised 2nd straight quarter: $140M rev, 28%+ margin $74.5M cash, no debt, capital-light (contract mfg, Korea + US) **Order book ( interesting and I feel next year will be better) :** \- $24M from new European drone maker \- Stark Future multi-year e-moto deal, $100M+ opportunity from 2027 \- Redwire Stalker Block 30 (long-endurance ISR) now runs SiCore Already in AeroVironment, BAE, Airbus/AALTO, Nokia, Matternet, Teledyne, DoD **Why the TAM keeps stacking:** \- DAWG \~$58B for autonomous systems \- NATO + Japan defense drone budgets ramping \- eVTOL approaching commercial launch \- Humanoid robotics entering production All of it needs energy density graphite / carbon can’t physically hit 450-500 Wh/kg, 10C discharge, NDAA-compliant. Qualification with a defense prime takes 18-36 months to displace - that’s the moat. Very few battery companies have gone from lab to pilot line to mass production - Amprius is now scaling with contract manufacturing, so less Capex and faster scale - already unlocked over 2GWh production capacity equivalent to over 1.5-1.8B in plausible revenue. **$1.7B market cap. \~60% off highs. Beat and raised anyway.** Not financial advice.