AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGR, AMPGZ) reported a 48.6% year-over-year revenue increase to $5.35 million for the first quarter ended March 31, 2026, compared to $3.60 million in the same period last year. The company also achieved a significant improvement in gross margin, which rose to 48.0% from 33.0% in the prior-year period, reflecting enhanced operational efficiency and product mix.
Gross profit surged 116.1% to $2.57 million, up from $1.19 million in Q1 2025. The manufacturing and engineering segment contributed $3.28 million in revenue, a substantial increase from $0.99 million a year earlier, underscoring the progress in commercializing 5G ORAN radio systems and proprietary RF technologies. Despite the revenue growth, the company reported a net loss of $(1.52) million, an improvement of 17.3% from the prior-year period, as it continued to invest in scaling operations.
The balance sheet strengthened considerably during the quarter. Cash, cash equivalents, and marketable securities totaled approximately $18.4 million as of March 31, 2026, up from $10.2 million at the end of 2025. Working capital improved to $25.4 million from $10.2 million, and the current ratio rose to 4.25 from 1.68, reflecting the successful completion of a rights offering and a registered direct offering that generated aggregate net proceeds exceeding $16 million. Total assets to total liabilities improved by approximately 47% to $48.36 million, and the company remains debt-free.
Operationally, AmpliTech advanced several key programs, including 5G ORAN radio systems, MMIC chip designs, and satellite and defense communications applications. Research and development expenses declined year-over-year as several products transitioned from development to commercialization. CEO Fawad Maqbool noted that the investments in 5G ORAN and MMIC capabilities are beginning to contribute more meaningfully to operational performance.
Looking ahead, management expects revenue recognition to be more heavily weighted toward the second half of 2026, based on customer delivery schedules and production timing. The company believes its full-year revenue guidance remains achievable, supported by expanding global 5G infrastructure deployment, increasing demand for RF and microwave technologies, and growth in the ORAN ecosystem. AmpliTech remains focused on expanding revenue scale, improving operational leverage, and strengthening internal controls. For more information, visit www.amplitechgroup.com.
