AmpliTech Group, Inc. Secures Over $2 Million in Follow-On Orders Under Previously Announced LOI with North American MNO

Rhea-AI Summary

AmpliTech Group (Nasdaq: AMPG) announced follow-on orders exceeding $2 million under a previously disclosed LOI with a North American mobile network operator. For Jan 1–Apr 30, 2026 the company recorded bookings exceeding $8 million, and total backlog is now over $20 million. Deliveries are expected to extend into fiscal 2026, and resumed shipments during the current quarter increase operational visibility for 2026.

Positive

• Follow-on orders > $2 million under existing LOI
• Recorded bookings > $8 million from Jan 1–Apr 30, 2026
• Total backlog > $20 million, supporting near-term revenue visibility
• Shipments to the customer resumed this quarter, aiding execution

Negative

• Deliveries expected to extend into fiscal 2026, indicating delayed revenue recognition
• Dependence on a North American MNO for material orders may concentrate customer risk

Key Figures

Follow-on orders: >$2 million 2026 YTD bookings: >$8 million Total backlog: >$20 million

3 metrics

Follow-on orders >$2 million Incremental orders under LOI with North American MNO

2026 YTD bookings >$8 million Bookings from January 1 through end of April 2026

Total backlog >$20 million Backlog across business segments as of end of April 2026

Market Reality Check

Price: $1.9200 Vol: Volume 253,382 is 0.53x t...

low vol

$1.9200 Last Close

Volume Volume 253,382 is 0.53x the 20-day average of 479,837, indicating subdued pre-news activity. low

Technical Shares at $1.92 are trading below the 200-day MA at $3.13 and about 60.73% under the 52-week high.

Peers on Argus

AMPG was down 1.54% pre-news while key peers like OCC (-14.52%), SILC (-5.56%), ...

1 Down

AMPG was down 1.54% pre-news while key peers like OCC (-14.52%), SILC (-5.56%), and CMTL (-3.31%) also traded lower, but only one peer appeared in the momentum scanner, pointing to stock-specific rather than broad sector momentum.

Historical Context

5 past events · Latest: Apr 21 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 21	Warrants expire	Positive	-1.5%	Expiration of April 2021 warrants leaving no warrants outstanding.
Mar 27	Guidance & pipeline call	Positive	-32.1%	Conference call on FY2025, 5G pipeline update, FY2026 guidance reaffirmed.
Mar 26	FY2025 earnings	Positive	-32.1%	Reported strong revenue growth and improved net loss with 5G expansion.
Mar 25	10-K filing notice	Neutral	+1.9%	Notification of expected Form 10-K filing date and disclosures.
Feb 25	O-RAN demo	Positive	+3.0%	Demonstrated open-source massive MIMO O-RAN system with Category B fronthaul.

Pattern Detected

Several recent positive or constructive updates were followed by negative price reactions, suggesting a pattern of weak responses to good news.

Recent Company History

Over the last few months, AMPG reported strong FY2025 revenue of $25.2M (up about 165% from 2024) and highlighted a non-binding $78M O-RAN LOI plus growing 5G shipments. It also announced warrant expirations leaving no warrants outstanding and showcased an O-RAN Category B system demo with Northeastern University. Despite these milestones and reaffirmed FY2026 guidance, shares saw notable selloffs after the March earnings and pipeline updates.

Market Pulse Summary

This announcement underscores continued commercial momentum, with follow-on orders above $2M under a...

Analysis

This announcement underscores continued commercial momentum, with follow-on orders above $2M under an existing LOI, bookings exceeding $8M year-to-date, and backlog now over $20M. These figures build on prior disclosures of rapid revenue growth and a sizable 5G O-RAN pipeline. Investors may focus on how efficiently AMPG converts this backlog into revenue and margins versus the FY2025 baseline and FY2026 guidance previously discussed.

Key Terms

letter of intent (LOI), mobile network operator (MNO)

2 terms

letter of intent (LOI) financial

"follow-on orders exceeding $2 million under a previously disclosed Letter of Intent (LOI)"

A letter of intent (LOI) is a written document that outlines the main terms and intentions of parties planning to work together or make a transaction. It serves as a preliminary agreement, indicating serious interest and helping to clarify expectations before a formal contract is signed. For investors, an LOI signals that negotiations are progressing and provides a foundation for more detailed agreements to follow.

mobile network operator (MNO) technical

"Letter of Intent (LOI) with a North American mobile network operator (MNO)"

A mobile network operator (MNO) is a company that owns the radio spectrum and network equipment needed to provide wireless phone and data service to customers, acting like the utility or landlord that supplies mobile connectivity. It matters to investors because an MNO’s customer base, network quality, regulation, and capital spending on upgrades determine revenue, costs and competitive position—similar to how a power company's grid and customer contracts drive its financial health.

AI-generated analysis. Not financial advice.

HAUPPAUGE, N.Y., April 28, 2026 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGR, AMPGZ), today announced the receipt of follow-on orders exceeding $2 million under a previously disclosed Letter of Intent (LOI) with a North American mobile network operator (MNO). These orders reflect incremental demand, including additional quantities beyond those initially contemplated, driven by ongoing requirements for the radio configuration currently being delivered during the Company’s second quarter.

For the period from January 1 through the end of April 2026, the Company has recorded bookings exceeding $8 million across its business segments, bringing its total backlog to over $20 million.

“We are encouraged by the continued order activity under this previously announced LOI, particularly as these new follow-on orders represent demand beyond the originally anticipated volumes, with deliveries expected to extend into fiscal year 2026,” said Fawad Maqbool, CEO and CTO of AmpliTech Group. “This additional demand reflects the customer’s continued evaluation and utilization of our technology and our ability to support deployment requirements. As shipments to this customer resumed during the current quarter, these orders contribute to our operational visibility for 2026 and support our focus on converting pipeline opportunities into revenue.”

About AmpliTech Group
AmpliTech Group, Inc., comprising five divisions, AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services, is a leading designer, developer, manufacturer, and distributor of cutting-edge radio frequency (RF) microwave components and ORAN 5G network solutions. Serving global markets including satellite communications, telecommunications (5G & IoT), space exploration, defense, and quantum computing, AmpliTech Group is committed to advancing technology and innovation. For more information, please visit www.amplitechgroup.com.

Safe Harbor Statement

This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things, that these follow on orders will have any effect on the current pricing of the AMPG publicly traded shares and Rights. The words "may" "would" "will" "expect" "estimate" "anticipate" "believe" "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward- looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, which are available on our website and with the SEC at sec.gov. We undertake no obligation to update, and we do not have a policy of updating or revising these forward-looking statements, except as required by applicable law.

Contacts:

Corporate Social Media
X: @AmpliTechAMPG
Instagram: @AmpliTechAMPG
Facebook: AmpliTechInc
LinkedIn: AmpliTech Group Inc

Company Contact:
Jorge Flores
Tel: 631-521-7831
Investors@amplitechgroup.com

FAQ

What follow-on orders did AmpliTech (AMPG) announce on April 28, 2026?

AmpliTech announced follow-on orders exceeding $2 million under a previously announced LOI. According to AmpliTech, these orders add incremental quantities beyond originally contemplated volumes and support deliveries into fiscal 2026.

How much bookings did AmpliTech (AMPG) record through April 30, 2026?

AmpliTech recorded bookings exceeding $8 million for Jan 1 through Apr 30, 2026. According to AmpliTech, these bookings span its business segments and contribute to a backlog now above $20 million.

What is AmpliTech's (AMPG) reported backlog after the new orders?

The company reported a total backlog of over $20 million following the new orders. According to AmpliTech, this backlog reflects recorded bookings and supports operational visibility for 2026.

Will AmpliTech's (AMPG) new orders affect 2026 deliveries and revenue timing?

Yes; deliveries tied to the follow-on orders are expected to extend into fiscal 2026, which may shift recognition timing. According to AmpliTech, resumed shipments this quarter increase visibility but deliveries continue into 2026.

Who is the customer behind AmpliTech's (AMPG) follow-on orders announced April 28, 2026?

The orders were placed by a North American mobile network operator under an existing LOI. According to AmpliTech, the customer continues evaluating and utilizing the company's radio configuration, driving incremental demand.