Amplitech Group (AMPG) Q2 2024 earnings summary

Executive summary

• Q2 2024 revenue was $2.5 million with gross profit of $1 million and a 42% gross margin, but revenue fell short of projections due to global demand declines and recessionary pressures.

• Net loss for Q2 2024 was $1.57 million, attributed to lower sales, higher expenses, and ongoing R&D for new 5G products.

• Inventory remains strong at over $7 million, with $2.1 million in cash, equivalents, and receivables, and working capital near $10 million.

• Increased RFQ activity and expectations for resumed demand in upcoming quarters.

Financial highlights

• Q2 2024 revenue: $2.5 million; gross profit: $1 million; gross margin: 42%.

• Net loss: $1.57 million for Q2 2024.

• Cash, equivalents, and receivables: $2.1 million as of June 30, 2024.

• Inventory: $7 million in raw materials and finished goods.

Outlook and guidance

• 5G business expected to account for 75%-80% of revenues in 2025.

• Revenue guidance for 2025 projected at $35–$40 million, with bookings expected to increase in the second half of 2024.

• MMIC division anticipates sizable orders in Q1 2025, driving sales for 2025 and 2026.

• Initial private 5G deployments and contracts expected to be announced in the coming months.