AmpliTech Group, Inc. (NASDAQ: AMPG) reported fiscal year 2025 financial results on March 26, 2026, highlighting a 165% revenue increase to $25.2 million from $9.5 million in 2024. The growth was driven by higher sales of low noise amplifier and low noise block products, expanded 5G product lines, and strong demand from telecommunications and satellite communications customers. The company's Spectrum division also benefited from a rebound in Asian markets.
Gross profit grew to $6.0 million from $3.5 million, though gross margin decreased to 23.9% from 36.7% due to strategic investments in building relationships with global Tier 1 network operators through competitively priced, O-RAN compliant 5G radios. Management expects margins to improve as the company transitions from market penetration to recurring high-volume business.
Operating expenses increased to $10.7 million in sales, general, and administrative costs, reflecting growth in personnel, professional fees, and trade show activity. Research and development expenses decreased to $2.7 million from $3.6 million, attributed to the completion of the flagship Massive MIMO 64T64R O-RAN CAT B Radio Network development program.
Net loss improved to $7.0 million from $11.2 million, a 38% reduction, supported by higher gross profit and the elimination of non-recurring charges. Operating loss improved to $7.3 million from $8.4 million.
The company continues to advance its O-RAN compliant radio portfolio, including the Massive MIMO 64T64R product, which has received an O-RAN compliance certificate. 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. As of March 23, 2026, the company has received approximately $5 million in funded purchase orders.
As of December 31, 2025, AmpliTech held $5.0 million in cash and cash equivalents, $6.7 million in subscription proceeds held in escrow, and working capital of $10.2 million. The company raised additional capital through a rights offering and a registered direct offering during fiscal year 2025. Management believes its cash on hand and anticipated cash from operations is sufficient to fund operations for at least the next twelve months.
Chairman, President, and CEO Fawad Maqbool stated, “Our fiscal 2025 results reflect significant progress in scaling our business and expanding into the 5G infrastructure market. 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.”
For further information, visit www.amplitechgroup.com. The latest news and updates relating to $AMPG are available in the company’s newsroom at https://tinyurl.com/ampgnewsroom.
