AmpliTech Group (AMPG)
NASDAQ:AMPG
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AmpliTech Group
(NASDAQ:AMPG)
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Rating:47Neutral
Price Target:
$2.00
▼(-47.37% Downside)
Action:ReiteratedDate:04/10/26
The score is held down primarily by weak financial performance (ongoing losses and sustained negative operating/free cash flow) and bearish technicals (price below key moving averages with negative MACD). Offsetting support comes from a more constructive earnings outlook (reiterated ~$50M revenue guidance tied to funded orders and improved liquidity), while valuation is neutral-to-limited given the negative P/E and no dividend.
Positive Factors
Material commercial pipeline
A large pipeline with multi‑tens‑of‑millions in LOIs and tangible funded POs gives durable revenue visibility as installations scale. Funded orders reduce near‑term sales risk and, if converted, allow production scale‑up, improving operating leverage and long‑term revenue predictability.
Negative Factors
Persistent cash burn
Consistent negative operating and free cash flow means the business is not self‑funding and will rely on external financing until margins and operating cash convert positive. This structural cash burn raises dilution and execution risk if revenue conversion or margin recovery lags the firm’s plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Material commercial pipeline
A large pipeline with multi‑tens‑of‑millions in LOIs and tangible funded POs gives durable revenue visibility as installations scale. Funded orders reduce near‑term sales risk and, if converted, allow production scale‑up, improving operating leverage and long‑term revenue predictability.
Read all positive factors
AmpliTech Group (AMPG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$46.61M
Dividend YieldN/A
Average Volume (3M)550.14K
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue Growth93.47%
EPS Growth37.19%
CountryUS
Employees47
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)-0.14
Shares Outstanding25,331,299
10 Day Avg. Volume480,478
30 Day Avg. Volume550,140
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.91
Price to Sales (P/S)2.49
P/FCF Ratio-6.47
Enterprise Value/Market Cap0.81
Enterprise Value/Revenue1.50
Enterprise Value/Gross Profit6.74
Enterprise Value/Ebitda-6.40
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.39
Revenue Forecast (FY)$50.00M
AmpliTech Group Business Overview & Revenue Model
Company Description
AmpliTech Group, Inc. designs, engineers, and assembles micro-wave component-based amplifiers. The company's products include radio frequency (RF) amplifiers and related subsystems, such as low noise amplifiers for use in receivers of various comm...
How the Company Makes Money
AmpliTech makes money primarily by selling RF and microwave amplification products (e.g., low-noise amplifiers and related modules/subsystems) to customers that need high-performance signal amplification for communications and sensing systems. Rev...
AmpliTech Group Earnings Call Summary
Earnings Call Date:Apr 09, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 14, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive operational and commercial momentum story: exceptional revenue growth (+165% YoY), expanded product and commercial pipeline (two sizable LOIs and funded POs), improved operating losses, and strengthened liquidity via ~$16.4M of capital raises. However, the company is in an explicit investment/ramp phase that produced material gross margin compression (36.7% to 23.9%), higher SG&A (+~35%), ongoing net losses, and timing/ execution risks tied to nonbinding LOIs and slow end‑user deployment cadence. On balance, the strong revenue acceleration, tangible funded orders and capital raised to fund operations outweigh the near‑term margin and timing challenges, with management expecting margin recovery as volumes scale.Positive Updates
Record Top-Line Growth
Revenue grew to $25.2M in FY2025 from $9.5M in FY2024, an approximate 165% year‑over‑year increase, driven by higher sales of LNA/LNB products, expansion of 5G product lines and recovery in Asian Spectrum markets.
Negative Updates
Significant Gross Margin Compression
Gross margin declined to 23.9% in FY2025 from 36.7% in FY2024 (a drop of ~12.8 percentage points). Management attributes the compression to strategic ramp‑up and early market penetration costs for carrier‑grade ORAN radio deployments; margins fell to ~7% in Q2 2025 before recovering to year‑end levels.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Top-Line Growth
Revenue grew to $25.2M in FY2025 from $9.5M in FY2024, an approximate 165% year‑over‑year increase, driven by higher sales of LNA/LNB products, expansion of 5G product lines and recovery in Asian Spectrum markets.
Read all positive updates
Company Guidance
Management reiterated revenue guidance of roughly $50 million for the year, supported by two major LOIs ($78 million and >$40 million) — the $78M LOI had about $5M in funded POs with <$0.5M shipped as of March 2026 and bulk shipments expected in Q2/Q3, while the >$40M LOI is ~50% funded and ~$12M has been shipped with shipments resuming in early Q2 — and said additional orders are expected before quarter end; they expect gross margins to recover from FY2025’s 23.9% (FY2025: revenue $25.2M, +165% YoY; gross profit $6.0M; FY2024 gross margin 36.7%; Q2 2025 floor ≈7%) into double digits and ultimately toward telecom ranges management cited of ~30–50%, foresee margin inflection starting late Q2 and into H2, and confirmed liquidity to fund operations at least 12 months (cash $11.6M, working capital $10.2M, A/R ~$3.4M) bolstered by ~ $8.1M net from a rights offering and ~$8.3M net from a registered direct offering completed in January 2026.AmpliTech Group Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 25.20M | 9.51M | 15.58M | 19.39M | 5.28M |
| Gross Profit | 6.03M | 3.48M | 7.15M | 8.92M | 1.29M |
| EBITDA | -6.03M | -7.42M | -1.91M | 1.23M | -4.48M |
| Net Income | -7.01M | -11.24M | -2.47M | -677.11K | -4.76M |
Balance Sheet | |||||
| Total Assets | 51.48M | 43.47M | 31.41M | 36.68M | 35.23M |
| Cash, Cash Equivalents and Short-Term Investments | 4.98M | 19.32M | 6.73M | 13.54M | 18.02M |
| Total Debt | 4.18M | 4.62M | 3.84M | 5.29M | 1.57M |
| Total Liabilities | 18.62M | 5.98M | 4.73M | 7.92M | 6.19M |
| Stockholders Equity | 32.86M | 37.49M | 26.68M | 28.76M | 29.03M |
Cash Flow | |||||
| Free Cash Flow | -9.70M | -5.34M | -4.44M | -4.16M | -3.26M |
| Operating Cash Flow | -8.68M | -5.30M | -3.47M | -3.43M | -2.20M |
| Investing Cash Flow | -5.76M | -3.29M | -725.90K | -1.08M | -10.61M |
| Financing Cash Flow | 6.81M | 21.18M | -2.37M | -224.22K | 30.63M |
AmpliTech Group Technical Analysis
Negative
3.80
Price Trends
2.57
Negative
2.94
Negative
3.14
Negative
Market Momentum
-0.24
Positive
33.54
Neutral
32.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPG, the sentiment is Negative. The current price of 3.8 is above the 20-day moving average (MA) of 2.26, above the 50-day MA of 2.57, and above the 200-day MA of 3.14, indicating a bearish trend. The MACD of -0.24 indicates Positive momentum. The RSI at 33.54 is Neutral, neither overbought nor oversold. The STOCH value of 32.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AMPG.
AmpliTech Group Risk Analysis
AmpliTech Group disclosed 36 risk factors in its most recent earnings report. AmpliTech Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
We have concluded that there are material weaknesses in our internal control over financial reporting, which, if not remediated, could materially adversely affect our ability to timely and accurately report our results of operations and financial condition. The accuracy of our financial reporting depends on the effectiveness of our internal controls over financial reporting. Q1, 2024
AmpliTech Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $175.51M | -18.31 | -5.49% | ― | -9.26% | 36.90% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $100.42M | -27.50 | -3.58% | ― | 9.55% | 65.17% | |
55 Neutral | $125.67M | -7.31 | -10.53% | ― | -4.61% | 63.88% | |
48 Neutral | $109.52M | -3.04 | 4.39% | ― | -1.89% | 76.61% | |
47 Neutral | $46.61M | -8.96 | -19.98% | ― | 93.47% | 37.19% |
* Technology Sector Average
AMPG
AmpliTech Group
1.84
0.52
39.39%
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2.32
169.34%
KVHI
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9.01
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85.77%
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11.37
8.59
308.99%
SILC
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22.06
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60.20%
FKWL
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3.79
-1.12
-22.81%
AmpliTech Group Corporate Events
Business Operations and StrategyExecutive/Board Changes
AmpliTech Adopts New Performance-Based Executive Bonus Plan
Positive
Mar 16, 2026
On March 10, 2026, AmpliTech Group’s board, following its Compensation Committee’s recommendation, approved an annual performance-based bonus plan for its named executive officers, effective for the 2026 fiscal year and beyond. The pla...
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesPrivate Placements and Financing
AmpliTech Group Announces Nasdaq Listing of New Rights
Positive
Feb 2, 2026
On January 30, 2026, AmpliTech Group entered into new three-year executive employment agreements, effective October 1, 2025, with CEO/President/CTO Fawad Maqbool, COO Jorge Flores and CFO Louisa Sanfratello, setting out higher base salaries, perfo...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
AmpliTech Group Announces New Capital Raise and Governance Moves
Positive
Jan 26, 2026
On January 26, 2026, AmpliTech Group entered into a Securities Purchase Agreement with five institutional investors for a registered direct offering of 2,230,000 units at $4.055 per unit, each comprising one share of common stock plus Series A and...
Business Operations and StrategyPrivate Placements and Financing
AmpliTech Group Announces $9 Million Registered Direct Offering
Positive
Jan 26, 2026
On January 26, 2026, AmpliTech Group, Inc. announced it had entered into securities purchase agreements with institutional investors for a registered direct offering of approximately $9.04 million, selling 2,230,000 units at $4.055 per unit, each ...
Business Operations and StrategyPrivate Placements and Financing
AmpliTech Completes $9.1 Million Subscription Rights Offering
Positive
Jan 12, 2026
On January 12, 2026, AmpliTech Group announced final results of its $4 unit subscription rights offering, reporting approximately $9.1 million in gross unit subscriptions, comprising 1,247,086 basic subscriptions and 1,021,118 over-subscriptions, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.