Amplitech Group (AMPG) Q4 2025 earnings summary

Executive summary

• Revenue grew 165% year-over-year to $25.2M in 2025, driven by a major 5G ORAN radio asset acquisition and new customer orders in telecom infrastructure.

• Net loss narrowed to $7.0M in 2025 from $11.2M in 2024, reflecting higher sales but lower gross margin due to product mix.

• The company completed a significant asset purchase for $8M, expanding into 5G radio products and securing a $78M non-binding LOI for ORAN radios.

• Rights and direct offerings in late 2025 and early 2026 raised over $16M in net proceeds, strengthening liquidity.

Financial highlights

• Revenue: $25.2M in 2025 vs. $9.5M in 2024 (+165%).

• Gross profit: $6.0M in 2025 (23.9% margin) vs. $3.5M in 2024 (36.7% margin); margin decline due to lower-margin 5G radio sales.

• Net loss: $7.0M in 2025 vs. $11.2M in 2024.

• Working capital: $10.2M at year-end 2025.

• Cash and equivalents: $5.0M at year-end 2025, plus $6.7M in rights offering proceeds in escrow.

Outlook and guidance

• Management expects improved gross margins in 2026 as 5G radio production transitions to in-house lines.

• Additional follow-up orders for ORAN radios anticipated into 2027.

• Focus on expanding customer base and reducing concentration risk.