Alpine 4 Technologies (OTCQB:ALPP) announced that its subsidiary, Impossible Aerospace Corporation (IA), has fulfilled the final requirement of a $1.5 million contract with the United States Air Force. This SBIR contract enabled testing and deployment of the US-1 aircraft for defending critical systems, including nuclear ICBMs. CEO Kent Wilson expressed optimism for future contracts but noted revenue recognition limitations for this project. The partnership between IA and Quality Circuit Assembly was highlighted as key in this project.
Alpine 4 Technologies (ALPP) reported a revenue of $8.72 million for Q3 2020, marking a 23% increase compared to Q3 2019. Total revenues for the first three quarters reached $26.6 million. CEO Kent B. Wilson emphasized potential revenue losses due to COVID-19 restrictions, estimating an additional $1.8 million in upcoming sales. Despite experiencing a 30% revenue decline due to COVID-19 impacts, the company maintained labor force stability through PPP funds. Wilson expressed confidence in future growth despite challenges.
Alpine 4 Technologies, Ltd. (OTCQB:ALPP) has successfully received patent approval for its Brake Active rear-end avoidance collision product, a major milestone three years in the making. This patent grants the company a competitive advantage in the emerging market of microprocessor-controlled center high mount stop lamps (CHMSL), which are increasingly necessary as OEMs transition to LED lights. With this approval, competitors face the choice of paying royalties or infringing on the patent. The product is manufactured by Quality Circuit Assembly, a subsidiary of Alpine 4.
Alpine 4 Technologies (ALPP) announced a preliminary revenue of $8.6 million for Q3 2020, marking a 21% increase from Q3 2019. For the first nine months of 2020, revenue is expected to exceed $26 million. CEO Kent B. Wilson highlighted the growth in their technology manufacturing sector, despite challenges from COVID-19. The company is adapting by expanding operations in Arkansas and focusing on synergistic strategies to drive American manufacturing. Alpine 4 is committed to innovation across its diverse business holdings.
PHOENIX, AZ / ACCESSWIRE / September 14, 2020 / Alpine 4 Technologies (ALPP) anticipates its subsidiary, Quality Circuit Assembly (QCA), will deliver its strongest revenue of 2020 in Q3, projecting earnings between $2.8 million and $3 million—a 35% increase over the first half of the year. This growth is attributed to new technology customers aiding in offsetting pandemic-related challenges faced by long-term clients. CEO Kent B. Wilson expressed satisfaction with the company's strategic initiatives and team effectiveness.
Alpine 4 Technologies (ALPP) reported a remarkable 39% revenue growth in Q2 2020 compared to the previous year, despite COVID-19 negatively impacting revenue by approximately $1.65 million. The total assets decreased by $1 million due to the write-down of American Precision Fabricator's assets. The company received $3.9 million in PPP loans, expected to be forgiven, which will reduce liabilities in Q3. An adjusted loss from operations was reported at $(224,819). For Q3 2020, revenue guidance stands at $8.7 million, reflecting optimistic recovery.