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1. Company Snapshot

1.a. Company Description

AmpliTech Group, Inc.designs, engineers, and assembles micro-wave component-based amplifiers.The company's products include radio frequency (RF) amplifiers and related subsystems, such as low noise amplifiers for use in receivers of various communication systems comprising Wi-Fi, radar, satellite, base station, cell phone, radio, etc.; and medium power amplifiers that provide enhanced output power and gain in transceiver chains.


It also provides specialty microwave block downconverters used as a test device on satellite access point antennas; specialty microwave 1:2 Tx protection switch panels that is used in satellite communication earth stations; desktop/benchtop and compact wideband power amplifiers; and waveguide to coaxial adapters for SATCOM and satellite internet gateway systems.In addition, the company offers cryogenic amplifiers for quantum computing, medical, RF imaging, research and development, space communications, accelerators, radiometry, and telephony applications; and cryogenic and non-cryogenic 4g/5g small cell subsystems for high-speed networks and airline Wi-Fi systems.Further, it provides custom assembly designs and non-recurring engineering services on a project-by-project basis, as well as IC packaging and lids products.


The company serves aerospace, government, defense, commercial satellite, and wireless industries through sales representatives and distributors in the United States, Europe, the Middle East, and South Asia.AmpliTech Group, Inc.was founded in 2002 and is based in Bohemia, New York.

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1.b. Last Insights on AMPG

AmpliTech Group's recent performance was driven by a series of positive developments. The company secured a landmark $78 million letter of intent for its 5G ORAN radios, with an initial purchase order valued at nearly $1 million. Additionally, AmpliTech's 5G division entered into a purchase order for its flagship ORAN 64T64R MIMO radio from a domestic American-based network test, measurement, and assurance technology company. Furthermore, the company's AmpliTech Inc. division received a division record purchase order of $2 million from a Fortune 500 company, and the company's record backlog of $19.8 million, all deliverable in FY2025, underscores its strong order book.

1.c. Company Highlights

2. AmpliTech Group's Q3 2025 Earnings: A Record-Breaking Performance

AmpliTech Group reported a record-breaking performance in Q3 2025, with quarterly revenue surging 115% to $6,090,000 and gross profit more than doubling to $2,960,000. The company's net loss narrowed significantly to $188,000, a substantial improvement from the net loss of $1,190,000 in Q3 2024. The actual EPS came out at '-0.01', beating estimates at '-0.09'. For the nine-month period, the company's record revenues jumped 171% to $20,700,000, with net loss reduced by nearly 50% to $3,800,000.

Publication Date: Nov -25

📋 Highlights
  • Q3 2025 Revenue Surge: Revenue jumped 115% to $6.09M, gross profit more than doubled to $2.96M.
  • Net Loss Improvement: Net loss narrowed to $188K vs. $1.19M in Q3 2024, a 84% reduction.
  • Strong Cash Position: Held $12M in cash with $0 long-term debt as of September 2025.
  • Revised FY2025 Guidance: Raised full-year revenue target to $25M (+160% YoY) and expects double-digit gross margins by Q4 2025.
  • Rights Offering for Growth: Announced $32M funding (8M units at $4) to scale production, certifications, and 5G/satellite tech expansion.

Growth Drivers

The growth was driven by the successful integration of Apple 5G ORAN technology and strong momentum in low noise amplifiers, low noise blocks, and 5G infrastructure systems. As Fawad Maqbool, CEO and CTO, noted, the company is expecting to receive additional orders and continue to fund LOIs with a healthy balance sheet and expanding portfolio of proprietary 5G and satellite technology.

Guidance and Outlook

The company increased revenue guidance to at least $25,000,000 for fiscal year 2025, representing a 160% year-over-year increase. AmpliTech Group expects double-digit gross margins in Q4 2025 and 2026, with positive cash flow from operations and profitability to be achieved in fiscal year 2026. Analysts estimate next year's revenue growth at 100.0%.

Valuation and Financial Position

AmpliTech Group's cash and cash equivalents stood at nearly $12,000,000 with zero long-term debt as of September 30, 2025. The company's P/S Ratio stands at 2.95, indicating that investors are pricing in significant revenue growth. With an EV/EBITDA ratio of -8.47, it's clear that the market is expecting the company to achieve profitability in the near future. The rights offering announced by the company will provide the necessary funds to scale production, improve working capital, and drive growth.

Future Prospects

The proceeds from the rights offering will be used to fund concrete opportunities, including certification and market access, product road map, go-to-market expansion, and strategic flexibility. With a healthy balance sheet and expanding portfolio of proprietary 5G and satellite technology, AmpliTech Group is well-positioned to drive growth and achieve profitability in the coming years.

3. NewsRoom

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AmpliTech Group To Hold Its Annual Shareholder Meeting And Showcase Its ORAN 5G Network Performance To Attendees

Dec -04

Source: prismmediawire.com

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AmpliTech Group To Hold Its Annual Shareholder Meeting And Showcase Its ORAN 5G Network Performance To Attendees

Dec -04

Source: globenewswire.com

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AmpliTech Group Receives Nearly $5 Million in Follow-On Orders From LOI Customers

Dec -03

Source: prismmediawire.com

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AmpliTech 5G Division Releases New Band 50 Open RAN Radios

Dec -01

Source: prismmediawire.com

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AmpliTech 5G Division Releases New Band 50 Open RAN Radios

Dec -01

Source: globenewswire.com

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AmpliTech Group, Inc. (AMPG) Q3 2025 Earnings Call Transcript

Nov -14

Source: seekingalpha.com

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AmpliTech Group, Inc. Reports Record Strong Q3 2025 Results

Nov -14

Source: prismmediawire.com

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AmpliTech Group To Release Q3 – 2025 Earnings On November 14th Before Market Opening – Also Announces Investor's Conference Call

Nov -11

Source: prismmediawire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.52%)

6. Segments

Spectrum

Expected Growth: 10.2%

Growing demand for high-gain, low-noise amplifiers in wireless and satellite communications drives the market growth, fueled by increasing adoption of 5G and satellite-based services, and the need for high-linearity and low-noise figure amplifiers to ensure reliable signal transmission.

Amplitech Inc. and Specialty

Expected Growth: 8.5%

Growing demand for high-frequency amplifiers in 5G infrastructure, increasing adoption of IoT devices, and rising need for customized RF amplifiers in aerospace and defense industries drive AmpliTech's growth.

7. Detailed Products

Amplifier Solutions

Designs, develops, and manufactures a wide range of amplifiers, including low noise amplifiers, medium power amplifiers, and high power amplifiers for various industries such as aerospace, defense, and commercial markets.

Radio Frequency (RF) Components

Offers a range of RF components, including filters, multiplexers, and switches, designed for high-reliability and high-performance applications.

Microwave Amplifiers

Provides high-power microwave amplifiers for various applications, including satellite communications, radar systems, and electronic warfare.

Customized Solutions

Offers customized amplifier and RF component solutions for specific customer requirements, including design, development, and manufacturing.

8. AmpliTech Group, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for AmpliTech Group, Inc. is moderate due to the presence of alternative technologies and products in the market.

Bargaining Power Of Customers

The bargaining power of customers is low for AmpliTech Group, Inc. due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate for AmpliTech Group, Inc. due to the presence of multiple suppliers in the market.

Threat Of New Entrants

The threat of new entrants is high for AmpliTech Group, Inc. due to the low barriers to entry in the industry and the presence of venture capital funding.

Intensity Of Rivalry

The intensity of rivalry is high for AmpliTech Group, Inc. due to the presence of multiple competitors in the market and the high stakes of competition.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 12.59%
Debt Cost 3.95%
Equity Weight 87.41%
Equity Cost 7.72%
WACC 7.24%
Leverage 14.41%

11. Quality Control: AmpliTech Group, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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A-Score: 2.9/10

Value: 7.4

Growth: 1.7

Quality: 3.2

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

3.32$

Current Price

3.32$

Potential

-0.00%

Expected Cash-Flows