AmpliTech receives additional $3 million in orders under $40 million LOI

HAUPPAUGE, N.Y. - AmpliTech Group, Inc. (NASDAQ:AMPG), a $42 million market cap technology company with a strong 95% return over the past year according to InvestingPro data, has received new purchase orders totaling nearly $3 million as part of a previously announced $40 million Letter of Intent (LOI) with a Tier 1 mobile network operator, the company announced Tuesday.

The new orders are scheduled for delivery within fiscal year 2025 and add to the company’s existing ORAN 5G orders backlog. AmpliTech indicated it is already progressing with deliveries on its current backlog.

"Receiving these follow-on orders as part of our agreed to LOI with TIER 1 MNO, further validates their confidence to continue placing orders with us," said Fawad Maqbool, CEO/CTO of AmpliTech Group.

The company noted it has now reported follow-on orders exceeding $5 million from its major LOIs announced earlier this year.

AmpliTech Group designs and manufactures signal processing components for satellite, 5G, and other communications networks, including complete 5G/6G systems. The company operates through five divisions: AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services.

The information in this article is based on a company press release statement.

In other recent news, AmpliTech Group has reported a significant 57% increase in its Q1 2025 revenue, reaching $3.6 million, primarily driven by growth in its 5G and satellite solutions. Despite the revenue jump, the company recorded a net loss of $1.8 million, attributed to ongoing investments in research and development and operational expansions. AmpliTech holds a record backlog of $19.6 million and forecasts a strong revenue trajectory for FY 2025, anticipating nearly $21 million. The company has also received a follow-on purchase order exceeding $1 million from a strategic Open RAN systems integrator, part of a larger $78 million Letter of Intent (LOI).

In addition, AmpliTech has appointed AI expert Aamir Sultan to its Board of Advisors, aiming to strengthen its expansion into federal opportunities and next-generation network development. The company has also made progress with deliveries against orders exceeding $10 million under a separate LOI with another 5G industry customer. AmpliTech has obtained CE/REACH and FCC certifications, which enable global deployment of its products. These developments underscore AmpliTech’s strategic focus on enhancing its capabilities in 5G technology and expanding its market presence.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.