Amprius Technologies Operating Inc (AMPX) saw its stock price soar 10.74% during intraday trading on Tuesday, marking a significant upward movement for the battery technology company.

The surge appears to be driven by two key factors: a strategic partnership with drone manufacturer Matternet and strong first-quarter financial results. Amprius recently signed a collaboration agreement with Matternet to leverage its high-energy-density silicon anode batteries to enhance the performance of autonomous aerial delivery vehicles. The company's batteries are already deployed on Matternet's M2 aircraft, with both parties expanding their collaboration to optimize batteries for next-generation platforms.

Additionally, Amprius reported impressive Q1 financials with revenue reaching $28.536 million, representing a 152.89% year-over-year increase. The company also narrowed its net loss attributable to the parent company by 46.15% to -$5.046 million, with earnings per share of -$0.04. The combination of improving fundamentals and successful execution of strategic partnerships has continued to fuel positive market sentiment toward the stock.