Amplitech Group reports Q2 earnings; raises FY22 revenue guidance

Aug. 15, 2022 9:07 AM ETAmpliTech Group, Inc. (AMPG)By: Meghavi Singh, SA News Editor

Amplitech Group press release (NASDAQ:AMPG): Q2 GAAP EPS of -$0.04.
Revenue of $4.58M (+349.0% Y/Y).
AmpliTech’s current order backlog is $8.2M, representing contractual hardware and engineering services anticipated for delivery over the next 9 months.
Management expects a profitable Q3 2022 and increases revenue outlook of at least $17M for FY2022 vs. consensus of $18.90M, representing a $2M revenue increase from previous guidance of $15M for FY2022, representing a projected 220.8% Y/Y annual revenue increase over 2021 FY Revenue of $5.3M.
New AmpliTech TGSS service division is expected to be fully functional during Q4 2022, to help telco customers design, implement, deploy, and manage complete 5G front-end infrastructure in 5G base stations and 5G O-RAN radios.
AmpliTech MMIC chips to continue customer testing and evaluation in Q3 2022 and the company expects to stock an assortment of new MMIC chips for COTS availability by Q1 2023.