Key Highlights

  • Third-quarter 2026 Revenue was USD 6.58 million, up 8% year over year.
  • Gross Margin improved to 34.2% from 27.9% in the second quarter.
  • Cash, equivalents and marketable securities totaled approximately USD 30.27 million.
  • October bookings were nearly USD 25 million, which management called a company record.

AmpliTech Group (NASDAQ:AMPG) reported third-quarter 2026 revenue of USD 6.58 million, against an estimate of USD 14.00 million. Loss per share was USD 0.07, against an estimate of USD 0.00. The company makes radio frequency and microwave components and 5G O-RAN radios.

Founder and Chief Executive Officer Fawad Maqbool said the quarter showed year-over-year revenue growth, expansion in the O-RAN 5G and Spectrum divisions and gross margin improvement from the second quarter. He also said the timing of large 5G deployments and Manufacturing execution had not matched the shipment schedules that originally supported its full-year revenue expectations.

Financial Results

The filing shows sales of USD 6,582,687, against USD 6,093,832, an increase of USD 488,855, or approximately 8.02%. Gross margin was 34.2%, against 27.9% in the second quarter, with Gross Profit of USD 2.25 million. Selling, general and administrative expenses increased to USD 3,379,701 from USD 2,481,580, an increase of approximately 36.19%, and Research and Development expenses increased to USD 859,616 from USD 699,319, an increase of approximately 22.92%.

For the nine months, sales decreased to USD 20,002,512 from USD 20,718,858, a decrease of approximately 3.46%. Cost of Goods Sold decreased approximately 17.67% to USD 12,932,670, and gross profit increased approximately 41.10% to USD 7,069,842, with a gross margin of 35.3% against 24.2%. Selling, general and administrative expenses increased approximately 60.29% to USD 11,138,156. The company reported a net loss of USD 6,497,361 for the nine months, against USD 3,800,519.

Balance Sheet and Liquidity

As of September 30, 2026, the company held USD 19.48 million in cash and cash equivalents and USD 10.79 million in marketable securities, a combined total of approximately USD 30.27 million. Total Assets were USD 76.13 million and total stockholders' Equity was USD 65.72 million, against USD 51.48 million and USD 32.86 million at December 31, 2025.

Management said the improved Liquidity primarily reflects Equity Financing completed during 2026, including approximately USD 20.11 million in net proceeds from the July closing of the Series A Rights. Net cash used in Operating Activities was USD 8.48 million for the nine months. Management said it believes it can meet normal operating obligations and planned Capital requirements for at least the next 12 months.

Orders and Backlog

Management said the company received more tha USD 17 million in customer purchase orders during the third quarter, including follow-on orders under existing O-RAN radio programs, and that October bookings were nearly USD 25 million. It said Backlog exceeded USD 52 million after the October orders, a new company record.

It cited a USD 21.7 million follow-on purchase order announced on October 20 for 5G O-RAN radio supporting an Asian mobile network operator program, and said cumulative orders under that program reached approximately USD 34 million, of an original USD 78 million letter of intent. It also cited a USD 1.03 million follow-on order for low noise amplifiers from a Fortune 1000 satellite communications customer and more than 3,000 radio units deployed for a North American mobile network operator. After quarter end, the company completed a dedicated production line and reached production-ready status, with initial shipments planned during the fourth quarter.