AmpliTech Group, Inc.

Listed Company

AMPGCIK 0001518461NasdaqNon-AcceleratedSmaller ReportingCommunications Equipment, NecNevadaFY ends Dec 31

Period

FY 2025

Revenue

$25.20M

Net Income

$-7.01M

Total Assets

$51.48M

Equity

$32.86M

Shares Out

25.33M

Op. Cash Flow

$-8.68M

Business

AmpliTech Group, Inc. designs, engineers and manufactures microwave and RF amplification and subsystem solutions for communications and defense markets. Its main products and services include RF amplifiers (LNAs, medium power, cryogenic), MMIC chips, passive microwave components, IC packaging and ORAN-compliant radio units, along with non-recurring engineering, system integration and managed services. The company operates through divisions AmpliTech Inc., Specialty Microwave, Spectrum Semiconductor Materials, AGMDC (MMIC design) and AGTGSS (5G/ORAN services). It sells domestically and internationally to aerospace, satellite, telecom (5G/IoT), space, defense and quantum computing customers via direct sales, distributors, sales representatives and e-commerce channels.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	25	10	16	19	5
Cost of Goods Sold	19	6	8	10	4
Gross Profit	6	3	7	9	1
Selling, general and administrative	11	8	8	8	5
Impairment of intangible assets	—	467,928	0	—	—
Research and development	3	4	2	1	2
Total Operating Expenses	13	12	10	9	—
Loss From Operations	−7	−8	−3	150,957	−5
Loss on investment in digital assets	—	−3	—	—	—
Other income	129,420	716,943	—	0	255,083
Realized gain on investments	36,016	26,746	—	0	−97,862
Interest income (expense), net	160,313	−292,195	19,281	−13,013	—
Total Other Income (Expense)	325,749	−3	136,097	−828,064	—
Net Loss Before Income Taxes	−7	−11	−2	−677,107	—
Provision For Income Taxes	13,000	15,000	24,000	—	0
Net Loss	−7	−11	−2	−677,107	−5
Net Loss Per Share - Basic	−0.33	−1.04	−0.26	−0.07	−0.53
Net Loss Per Share - Diluted	−0.33	−1.04	−0.26	−0.07	−0.53
Weighted Average Common Shares Outstanding - Basic	21	11	10	10	9
Weighted Average Common Shares Outstanding - Diluted	21	11	10	10	9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	5	19	7	13	18
Rights offering subscription proceeds in escrow	7	—	—	—	—
Accounts receivable	3	1	3	2	2
Inventories, net	9	8	7	7	4
Prepaid expenses and other	1	169,913	—	—	—
Total Current Assets	25	28	17	22	24
Property and equipment, net	3	2	3	2	1
Operating lease right-of-use assets	4	4	4	4	1
Intangible assets, net	13	2	3	3	—
Goodwill	5	5	5	5	5
Cost method investment	348,250	348,250	348,250	348,250	—
Long-term deposits	1	824,174	91,481	—	—
Total Assets	51	43	31	37	35
Accounts payable and accrued expenses	5	941,408	846,179	860,366	3
Customer deposits	28,337	128,089	14,239	210,848	—
Current portion of financing lease obligations	17,646	16,522	16,799	33,480	33,688
Current portion of operating lease obligations	499,072	449,622	541,324	586,379	391,571
Rights offering subscription liability	7	—	—	—	—
Contingent liability	3	—	—	—	—
Total Current Liabilities	15	2	1	4	4
Financing lease obligations, net of current portion	21,386	15,478	32,537	49,336	17,471
Operating lease obligations, net of current portion	4	4	3	4	795,317
Deferred tax liability	52,000	39,000	24,000	—	—
Total Liabilities	19	6	5	8	6
Commitments and Contingencies	—	—	—	—	0
Common stock, par value $0.001, 500,000,000 shares authorized, 20,683,095 and 19,656,460 shares issued and outstanding, respectively	20,683	19,656	9,715	9,635	9,582
Additional paid-in capital	61	58	36	36	36
Accumulated deficit	−28	−21	−10	−7	−7
Total Stockholders Equity	33	37	27	29	29
Total Liabilities and Stockholders Equity	51	43	31	37	35

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	538,759	531,160	412,006	146,620
Operating lease costs	526,278	532,065	545,065	545,249	—
Stock-based compensation	544,188	517,781	389,658	399,126	785,976
Amortization of debt discount	—	260,000	—	—	—
Inventory reserve	157,000	−84,000	18,000	—	—
Deferred taxes	13,000	15,000	—	—	—
Accounts receivable	−2	1	−740,941	−141,891	−60,545
Inventories	−1	−967,186	76,543	−2	500,715
Prepaid expenses and other	−946,862	1	−1	−78,007	−33,682
Long-term deposits	−1	−732,693	21,704	—	—
Accounts payable and accrued expenses	2	95,229	−14,187	−2	1
Customer deposits	−99,752	113,850	−196,609	−444,725	—
Operating lease obligations	−449,621	−512,888	−520,086	−43,061	—
Net cash used in operating activities	−9	−5	−3	−3	−2
Purchase of property and equipment	−1	−42,920	−973,349	−735,761	−1
Purchase of intangible assets	−1	—	—	—	—
Cash paid for intangible asset acquisition	−4	—	—	0	−9
Purchase of investment in digital assets	—	−3	—	−98,250	—
Net cash used in investing activities	−6	−3	−725,899	−1	−11
Net proceeds from issuance of common shares in private offering	—	22	—	0	21
Net proceeds from notes payable	—	1	—	441,139	0
Proceeds from exercise of stock options	124,360	—	—	—	—
Rights offering subscription proceeds in escrow	7	—	—	—	—
Repayment of finance lease obligations	−19,836	−17,336	−153,114	−45,195	−32,084
Repayment of notes payable	—	−2	−33,480	−620,167	−1
Net cash provided by financing activities	7	21	−2	−224,223	31
Net change in cash and cash equivalents	−8	13	−7	−5	18
Cash paid for interest expense	17,589	298,811	27,259	42,450	52,703
Cash paid for income taxes	14,899	8,632	10,200	4,293	0
Common stock issued on vesting of RSUs	48	55	80	53	—
Debt discount on notes payable	—	260,000	—	—	—
Long-term deposits applied to intangible asset acquisition	710,000	—	—	—	—
Operating lease right-of-use asset and liability measurement	—	1	20,880	4	—
Contingent consideration for intangible asset acquisition	3	—	—	—	—
Acquisition of intangible assets recorded in accounts payable	2	—	—	—	—
Fair value of common stock issued for intangible asset acquisition	2	—	—	—	—
Financed purchases of property and equipment	26,868	—	—	145,630	0

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