AmpliTech Group, Inc. (NASDAQ: AMPG) reported fiscal year 2025 financial results, highlighting a 165% increase in revenue to $25.2 million, driven by strong demand for low noise amplifiers (LNA), low noise blocks (LNB), and expanded 5G product lines. The company also announced a non-binding letter of intent for up to $78 million in O-RAN radio purchases, signaling a significant multi-year opportunity in the 5G infrastructure market.
Revenue growth was propelled by higher sales to telecommunications and satellite communications customers, as well as a rebound in Asian markets through the Spectrum division. Gross profit rose to $6.0 million from $3.5 million, though gross margin compressed to 23.9% from 36.7% due to strategic investments in competitively pricing O-RAN compliant 5G radios to penetrate global Tier 1 operators. Management expects margins to improve as the company transitions to recurring, high-volume business.
Operating expenses increased to $10.7 million in SG&A from $7.9 million, reflecting growth in personnel, professional fees, and trade show activity, while R&D expenses decreased to $2.7 million from $3.6 million following the completion of the Massive MIMO 64T64R O-RAN CAT B Radio development program. Net loss improved to $7.0 million from $11.2 million, a 38% reduction, supported by higher gross profit and elimination of non-recurring charges.
The company’s flagship Massive MIMO 64T64R product received an O-RAN compliance certificate, enabling true 5G speeds with enhanced coverage and capacity. As of March 23, 2026, AmpliTech had received approximately $5 million in funded purchase orders against the $78 million LOI, demonstrating early commercial momentum. The company ended fiscal 2025 with $5.0 million in cash, $6.7 million in subscription proceeds held in escrow, and working capital of $10.2 million, with management stating cash on hand and anticipated operations are sufficient for at least 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 CEO. “The 165% increase in revenue demonstrates the strength of our product portfolio and accelerating demand for open, standards-based 5G solutions. These relationships with Tier 1 operators, combined with our $78 million LOI and initial funded purchase orders, position AmpliTech for sustained, high-margin revenue growth.”
AmpliTech Group designs and manufactures RF and microwave components for satellite, 5G/6G telecom, quantum computing, defense, and space applications. For more information, visit www.amplitechgroup.com.
