- Radio frequency (“RF”) technology designer and developer AmpliTech Group is leveraging this year’s Nasdaq uplisting and Russell Microcap Index placement to increase its market visibility
- AmpliTech builds and markets communications technology products for the satellite communications, space, telecommunications (5G/6G) and military defense markets
- Markets analysts forecast continued growth over the next five years in the RF component sector, with a CAGR of 13 percent in the multi-billion-dollar sector
- AmpliTech reported a 2021 Q2 55% YOY revenue increase
- A recent follow-on order from an existing global defense and aerospace customer evidences AmpliTech’s growth potential as it continues to build revenues and strategically use its financial resources
The ever-present need for solutions that improve the speed and security of Internet-based technologies is exemplified in the rollout and evolution of 5G wireless communication capabilities worldwide.
State-of-the-art RF signal component developer AmpliTech Group (NASDAQ: AMPG, AMPGW) has seen industry attention to its IP for satellite and 5G communications networks grow following its Nasdaq uplisting earlier this year and its more recent inclusion on the Russell Microcap Index in conjunction with the yearly reconstitution of the index, which took effect June 25.
AmpliTech strengthened its financial standing with over $30M in funding obtained through recapitalization during the winter and spring months and recently celebrated receipt of a follow-on order for its technology from a long-standing customer in the global defense and aerospace sector. The company reported growth in its year-over-year and sequential quarterly revenues and gross profits when it released Q2 financial figures for the period ending June 30.
The company also recently reported a Q2 2021 revenue of $1,024,410 signifying a 55% increase from Q2’20 revenue of $660,699. AmpliTech’s gross profits rose 52.5% to $344,623 in Q2’21 compared to $225,988 in Q2’20. Additionally, the company’s 2021 Q2 results showed record bookings and a record $2.45M backlog (defined as contractually obligated purchase orders with a deadline for delivery).
“As the economy reopens in the wake of COVID-19, our target industries and customers are returning to more normal business and procurement patterns, creating a growing range of revenue opportunities for our Company,” President and CEO Fawad Maqbool stated (https://ibn.fm/H5zz6). “We are proud that the performance, quality and return on investment of our solutions continues to earn repeat business from global leaders.”
AmpliTech is increasing its product development and marketing efforts to meet pent-up demand it has observed building up in the satellite communications, defense and space industries during the course of the COVID-19 pandemic, as well as for needs in other commercial applications.
Analysts at market observer Mordor Intelligence recently forecast growth in the RF components market at a compound annual growth rate (“CAGR”) of 13 percent over the course of the next five years (https://ibn.fm/xwH9a), similar to the pre-pandemic outlook of Grand View Research, Inc., which predicted a 14 percent CAGR to 2025 for revenues of $45.05 billion globally (https://ibn.fm/Ks8Dn).
“RF engineering is incorporated into almost everything helping to transmit or receiving a radio wave across the complete RF spectrum (3 kHz to 300 GHz) that includes cellular phones, radios, Bluetooth, and Wi-Fi technology. With the advent of the Internet of Things (‘IoT’) and even greater wireless connectivity, there will be increased demand for RF components,” Mordor’s report stated.
For more information, visit the company’s website at www.AmpliTechInc.com.
NOTE TO INVESTORS: The latest news and updates relating to AMPG are available in the company’s newsroom at https://ibn.fm/AMPG
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s ability to execute its business plan as anticipated; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, all of which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.
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