AmpliTech Group, Inc. announced its financial results for the fiscal year ended December 31, 2024, reporting total revenue of $9.51 million, a decrease of 39% from FY 2023. The company recorded a gross profit of $3.0 million, resulting in a gross margin of 31.5%, and a net loss of $10.1 million for the year.
Despite market headwinds in its distribution segment, AmpliTech maintained a strong liquidity position with $11.0 million in cash and cash equivalents and $16.2 million in working capital, with no long-term debt. The company also reported Q1 FY2025 bookings exceeding $2.5 million for its Spectrum division and a total backlog nearing $5 million.
Looking ahead, AmpliTech highlighted over $100 million in potential multi-year revenue based on current signed and agreed-to Letters of Intent. The 5G division is expected to become the company’s flagship in FY 2025, with its ORAN Massive MIMO 64T64R radio having completed lab testing at speeds exceeding 1 Gbps and FCC certification expected soon. The company also noted a transformative IP acquisition allowing it to work directly with Canada’s second-largest MNO.
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