AmpliTech Group Reports Fiscal Year 2025 Results With 165% Revenue Growth and Strategic Expansion Into 5G Infrastructure

AmpliTech (NASDAQ: AMPG) reported fiscal 2025 revenue of $25.2 million, up ~165% from $9.5 million in 2024, driven by LNA/LNB products and expanded 5G O-RAN radios.

Rhea-AI Summary

AmpliTech (NASDAQ: AMPG) reported fiscal 2025 revenue of $25.2 million, up ~165% from $9.5 million in 2024, driven by LNA/LNB products and expanded 5G O-RAN radios. Gross profit rose to $6.0 million while gross margin compressed to 23.9%.

Net loss improved to $7.0 million from $11.2 million. The company holds cash of ~$5.0 million, $6.7 million in escrow, and received ~$5.0 million in funded purchase orders against a non-binding $78 million LOI for O-RAN radios.

Positive

• Revenue +165% YoY to $25.2 million
• Gross profit increased to $6.0 million
• Net loss improved 38% to $7.0 million
• $5.0 million in funded purchase orders received

Negative

• Gross margin compressed from 36.7% to 23.9%
• Sales, general, and administrative expenses +35%
• Cash on hand ~$5.0 million may be limited

Argus Mar 27 session

-32.08% close to close 8.7x rel. volume Open Argus

Details

News Market Reaction – AMPG

On Mar 27, the first trading day after this news, AMPG closed 32.08% below the previous close. That session’s volume was 8.7x the stock’s average daily volume.

Data tracked by StockTitan Argus for the Mar 27 session.

Key Figures

FY 2025 Revenue: $25.2M Revenue Growth: 165% Gross Margin 2025: 23.9% +5 more

FY 2025 Revenue

$25.2M

Fiscal year 2025 revenue vs $9.5M in fiscal year 2024

Revenue Growth

165%

Year-over-year revenue growth for fiscal year 2025

Gross Margin 2025

23.9%

FY 2025 gross margin vs 36.7% in FY 2024

Net Loss 2025

$7.0M

FY 2025 net loss vs $11.2M in FY 2024

SG&A Expenses

$10.7M

FY 2025 SG&A vs $7.9M in FY 2024

R&D Expenses

$2.7M

FY 2025 R&D vs $3.6M in FY 2024 after program completion

O-RAN LOI

$78M

Non-binding letter of intent for purchase of O-RAN radios

Cash Position

$5.0M

Cash and cash equivalents as of December 31, 2025

Previous Earnings Reports

4 past events · Latest: Nov 14

Same Type 4 events

1. Nov 14

   Q3 2025 earnings

   24h Move

   +18.1%

   Record Q3 2025 results with 115% revenue growth and higher gross margin.

2. Jul 17

   Q2 2025 update

   24h Move

   +11.0%

   Preliminary Q2 2025 revenue near $11M with 75% from 5G ORAN.

3. Apr 01

   FY 2024 results

   24h Move

   -4.5%

   FY 2024 results with $10.25M revenue and major 5G ORAN agreements.

4. Feb 11

   Purchase orders FY25

   24h Move

   -7.8%

   Over $2.1M in new Q1 purchase orders for FY 2025 delivery.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

low noise amplifier (LNA), low noise block (LNB), O-RAN compliant, Massive MIMO 64T64R

4 terms

low noise amplifier (LNA) technical

"The increase was driven primarily by higher sales of low noise amplifier (LNA)"

A low noise amplifier (LNA) is an electronic component placed at the front of a radio or sensor system that strengthens very weak incoming signals while introducing as little extra interference as possible. For investors, LNAs matter because they directly affect a product’s real-world performance, battery life, and reliability—key factors for competitiveness, pricing power, and adoption in markets like wireless communications, radar, and IoT devices.

low noise block (LNB) technical

"higher sales of low noise amplifier (LNA) and low noise block (LNB) products"

A low noise block (LNB) is the small device mounted on a satellite dish that captures very weak radio signals from space, amplifies them, and converts them to a lower frequency that receivers can handle. For investors, it matters because LNBs are a key component of satellite and broadcasting systems—think of them as the dish’s microphone—so their quality, cost, supply and demand affect equipment makers’ margins and the reliability of satellite-based services that generate revenue.

O-RAN compliant technical

"carrier-grade O-RAN compliant 5G radios"

O‑RAN compliant means a telecommunications product follows the open standards for radio access networks that make equipment from different vendors work together, similar to how a standard electrical plug fits sockets from many manufacturers. For investors, compliance signals potential for wider market acceptance, lower vendor lock‑in and cost savings for carriers — which can boost sales opportunities but also invites more competition and scrutiny around security and integration.

Massive MIMO 64T64R technical

"flagship Massive MIMO 64T64R O-RAN CAT B Radio Network development program"

A Massive MIMO 64T64R setup is a wireless base‑station antenna system with 64 separate transmitting elements and 64 separate receiving elements that work together to send and receive data. Think of it like a room full of speakers and microphones all coordinating to make speech clearer and reach more listeners at once; for investors, it matters because it can substantially boost network capacity, coverage and speed while affecting equipment costs, deployment complexity and potential service revenue.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HAUPPAUGE, N.Y., March 26, 2026 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (NASDAQ: AMPG) today reported financial results for the fiscal year ended December 31, 2025, as included in its Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.

Strong Revenue Growth Driven by 5G and Core RF Product Demand

Revenue increased to $25.2 million for fiscal year 2025, compared to $9.5 million in fiscal year 2024, representing growth of approximately 165% year-over-year. The increase was driven primarily by higher sales of low noise amplifier (LNA) and low noise block (LNB) products, expanded 5G product lines, and strong demand from telecommunications and satellite communications customers. The Spectrum division also benefited from a rebound in Asian markets.

Gross Profit Expansion Reflects Strategic 5G Market Penetration

Gross profit grew to $6.0 million from $3.5 million in the prior year. Gross margin was 23.9% in 2025 compared to 36.7% in 2024. The margin compression reflects the Company’s strategic investment in building long-term relationships with global Tier 1 network operators by providing competitively priced, carrier-grade O-RAN compliant 5G radios. Management expects gross margins to improve meaningfully as the Company transitions from initial market penetration and deployment phases into recurring, high-volume business with established operators.

Operating Expenses Reflect Growth Investments

Sales, general, and administrative expenses increased to $10.7 million from $7.9 million in the prior year, reflecting growth in personnel, professional fees, amortization, insurance, and trade show activity. Research and development expenses were $2.7 million, a decrease from $3.6 million in 2024 attributable to the completion of the Company’s flagship Massive MIMO 64T64R O-RAN CAT B Radio Network development program.

Significantly Improved Net Loss and Operating Performance

Net loss improved to $7.0 million from $11.2 million in fiscal year 2024, a reduction of $4.2 million or approximately 38%. The improvement was supported by higher gross profit and the elimination of significant non-recurring charges recorded in 2024. Operating loss improved to $7.3 million from $8.4 million.

Strategic 5G Positioning and Growing Commercial Pipeline

The Company continues to advance its portfolio of O-RAN compliant radio systems, including its flagship Massive MIMO 64T64R product, which has received an O-RAN compliance certificate. This product delivers true 5G speeds with enhanced signal strength, improved coverage, and increased user capacity.

In March 2025, AmpliTech entered into a non-binding letter of intent for the purchase of up to $78 million of its O-RAN radios, representing a significant potential multi-year opportunity. As of March 23, 2026, the Company has received approximately $5 million in funded purchase orders from customers, demonstrating early commercial momentum against this pipeline.

Liquidity and Capital Position

As of December 31, 2025, AmpliTech held cash and cash equivalents of approximately $5.0 million, subscription proceeds held in escrow of $6.7 million, and working capital of $10.2 million. During fiscal year 2025, the Company raised additional capital through a rights offering and a registered direct offering to support its continued growth initiatives. Management believes its cash on hand and anticipated cash from operations is sufficient to fund operations for at least the next twelve months.

“Our fiscal 2025 results reflect significant progress in scaling our business and expanding into the 5G infrastructure market,” said Fawad Maqbool, Chairman, President, and Chief Executive Officer of AmpliTech Group. “The 165% increase in revenue demonstrates the strength of our product portfolio and the accelerating demand we are seeing for open, standards-based 5G solutions. While we made deliberate investments in market penetration that compressed near-term margins, we believe these relationships with Tier 1 operators, combined with our $78 million letter of intent and initial funded purchase orders, position AmpliTech for sustained, high-margin revenue growth in the years ahead.”

About AmpliTech Group, Inc.

AmpliTech Group, Inc. (NASDAQ: AMPG, AMPGW) designs, develops, and manufactures advanced RF and microwave signal-processing components and systems for satellite, 5G/6G telecom, quantum computing, defense, and space applications. Its five divisions, AmpliTech Inc., Specialty Microwave, Spectrum Semiconductor Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group 5G Divisions work symbiotically and serve customers worldwide. Through continuous innovation and U.S.-based manufacturing, AmpliTech is enabling the next generation of connectivity and communication systems. For further information, please visit www.amplitechgroup.com

Safe Harbor Statements

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 company’s certifications, new product developments and projections are based on continuation of receipt of orders against signed LOI’s, the Company will be able to increase its gross margins in future production and positive market conditions will exist. 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. 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

Investor Social Media
X: @AMPG_IR
StockTwits: @AMPG_IR

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

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/4be5db13-bb19-4b37-a236-231848d08af1

https://www.globenewswire.com/NewsRoom/AttachmentNg/4be33b89-da85-4a86-a06d-45ead9a21d57

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What caused AmpliTech (AMPG) revenue to increase 165% in fiscal 2025?

Higher sales of LNA/LNB and expanded 5G product lines drove the increase. According to the company, demand from telecommunications, satellite customers, and a rebound in Asian markets powered revenue growth and early commercial traction for O-RAN compliant radios.

How did AmpliTech's (AMPG) profitability change in fiscal 2025?

Net loss narrowed to $7.0 million, improving approximately 38%. According to the company, higher gross profit and elimination of non-recurring 2024 charges supported the improvement despite strategic investments that compressed near-term gross margins.

What is the significance of the $78 million LOI mentioned by AmpliTech (AMPG)?

The LOI represents potential multi-year demand for O-RAN radios but is non-binding. According to the company, the LOI signals significant pipeline opportunity while the firm has received about $5 million in funded purchase orders to date.

How strong is AmpliTech's (AMPG) cash and liquidity position after fiscal 2025?

AmpliTech reported approximately $5.0 million cash and $6.7 million subscription proceeds in escrow. According to the company, combined working capital of $10.2 million and recent capital raises are expected to fund operations for at least the next twelve months.

Why did AmpliTech's (AMPG) gross margin fall to 23.9% in 2025?

Margin compression reflects strategic pricing for market penetration with Tier 1 operators. According to the company, competitively priced, carrier-grade O-RAN radios reduced near-term margins as it builds long-term operator relationships and aims for future high-volume sales.

What commercial traction does AmpliTech (AMPG) show for its Massive MIMO 64T64R product?

The product received O-RAN compliance certification and is in commercialization pipeline stages. According to the company, the Massive MIMO 64T64R has contributed to sales momentum and is part of funded purchase orders supporting early deployments.