Amprius Technologies says will be ‘limited by manufacturing capacity’

The company states: "Moving to our outlook, we expect to continue to be limited by manufacturing capacity until we exit 2023 with the new 2 MWh capacity coming online. Regarding revenue, we have several ongoing development services programs with performance obligations that we expect to complete within 2023, which means that we expect increased revenue recognition weighted more heavily towards the latter part of the year. We expect that our G&A costs will continue at the higher rate we experienced exiting 2022, noting additional public company expenses. Also, we plan to continue to be lean on other operating expenses, strategically adding critical mass to the new business units that we announced and allocating the majority of our capital to scaling up our manufacturing. And, we expect higher capital expenditures going forward, as we continue to fully build out the 2 MWh capacity in Fremont, CA, while we in parallel design and construct our newly announced Brighton, Colorado gigawatt-hour scale facility. Our spending pattern is dependent on several factors outside of our control, including the timing of approval for rezoning for the Colorado site, so we expect to provide more specific projections as we have additional information to share."