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.

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