Business
AmpliTech Reports Q3 Revenue of $1.1M, Record Order Backlog of $3.4M Reflects Growing Demand for Industry-Leading Performance of its Low Noise Signal Amplifiers for Satellite, Telecom (5G) and Other Applications
Quarter-End Cash & Securities of $27M Bohemia, New York, Nov. 15, 2021 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and
About this update from Amplitech Group, Inc.
[{"type":"text","content":"Quarter-End Cash & Securities of $27M\nBohemia, New York, Nov. 15, 2021 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite and 5G communications networks, defense, space, and other commercial applications, today reported financial results for its third quarter and first nine months of 2021 (Q3’21 and 9M’21) and reviewed its growth outlook. AmpliTech is a world-leading developer and U.S. manufacturer of Low Noise Amplifier (LNA) components that increase the power of a radio signal while eliminating the distortion or “noise” that can degrade or destroy digital signals. AmpliTech believes its LNA technology can play a vital role in enabling substantial performance, bandwidth and cost improvements in satellite communications and in achieving gigabit data transmission speeds in next generation 5G networks. AmpliTech is translating its industry-leading performance designs into the smaller, more flexible and lower-cost form factor of MMIC semiconductor chip designs. Initial MMIC designs developed by AmpliTech’s design team are entering fabrication for expected availability by the end of Q1 2022. MMICs, or monolithic microwave integrated circuits, are semiconductor chips used in high-frequency communications applications such as signal amplifiers and filters for mobile phones or satellites. Highlights Q3’21 revenue was $1,056,595 vs. $1,150,732 in Q3’20 and $1,024,410 in Q2’21.Secured $1.2M in new orders for LNA technology in Q4’21, increasing AmpliTech’s order backlog to a record $3.35M as of November 15, versus its $2.45M backlog in August 2021. AmpliTech’s order backlog represents contractual hardware and engineering services anticipated for delivery over an estimated six-month period.Executed lease for new 20,000 sq. ft. manufacturing and headquarters facility on Long Island, replacing and substantially expanding upon AmpliTech’s existing 13,100 square foot footprint at two facilities. The move should be completed and the new facility fully operational in Q1 2022.AmpliTech’s cash and equivalents and marketable securities totaled $27.1M on September 30th, demonstrating it now has the financial strength required to engage with large global customer prospects previously outside its reach. The capital is targeted for growth inve...