Form 8-K Current Report [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) AmpliTech Group, Inc. announced preliminary Q2 2025 revenue via a press release, with the information furnished rather than filed for limited liability - The company announced preliminary revenue for the quarter ending June 30, 2025, via a press release on July 17, 2025[5](index=5&type=chunk) - Information in this report, including the press release, is furnished, not filed, limiting legal liability under the Securities Exchange Act of 1934[6](index=6&type=chunk) [Item 9.01 Financial Statement and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statement%20and%20Exhibits) This section details exhibits filed with the Form 8-K, primarily Exhibit 99.1, the press release with preliminary financial results, and the interactive data file Exhibits Filed | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release Dated July 17, 2025 | | 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

PART I - FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements) Unaudited H1 2025 financials show total assets at $48.6 million, revenues at $14.6 million, and a $3.6 million net loss Condensed Consolidated Balance Sheet Highlights (as of June 30, 2025) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $11,057,755 | $19,315,984 | | Total Current Assets | $25,028,665 | $28,331,386 | | Intangible assets, net | $10,397,620 | $2,366,119 | | Total Assets | $48,643,670 | $43,220,482 | | Total Current Liabilities | $8,864,955 | $1,535,641 | | Total Liabilities | $12,831,136 | $5,729,681 | | Total Stockholders' Equity | $35,812,534 | $37,490,801 | Condensed Consolidated Statements of Operations Highlights | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Revenues | $14,625,026 | $4,820,773 | | Gross Profit | $2,050,749 | $1,939,717 | | Loss From Operations | ($3,815,077) | ($2,995,962) | | Net Loss | ($3,612,146) | ($6,231,435) | | Net Loss Per Share (Basic and diluted) | ($0.18) | ($0.64) | Condensed Consolidated Statements of Cash Flows Highlights (Six Months Ended June 30, 2025) | Cash Flow Activity | Amount | | :--- | :--- | | Net cash used in operating activities | ($4,260,237) | | Net cash used in investing activities | ($3,987,492) | | Net cash used in financing activities | ($10,500) | | **Net change in cash and cash equivalents** | **($8,258,229)** | [Notes to Financial Statements](index=10&type=section&id=Notes%20to%20Financial%20Statements) Key notes detail the $8 million 5G ORAN asset acquisition, a $3.25 million loss from a 2024 digital currency scam - On March 26, 2025, the company entered an asset purchase agreement with Titan to acquire 5G ORAN radio product assets for an aggregate price of **$8 million** (**$4M cash**, **$4M restricted stock**). An initial payment of **$3.5M cash** and **$1.7M in stock** was made, with a remaining **$3M contingent liability** recorded[36](index=36&type=chunk)[152](index=152&type=chunk) - In Q1 2024, the company was a victim of a cyber phishing scam, resulting in a complete loss of a **$3.25 million investment** in digital assets, which was recorded during the year ended December 31, 2024[37](index=37&type=chunk)[38](index=38&type=chunk) Revenue by Segment (Six Months Ended June 30, 2025) | Segment | Domestic Sales | International Sales | Total Sales | | :--- | :--- | :--- | :--- | | AmpliTech Inc. and Specialty Microwave | $1,358,369 | $8,945,623 | $10,303,992 | | Spectrum | $2,629,042 | $1,691,992 | $4,321,034 | | **Total** | **$3,987,411** | **$10,637,615** | **$14,625,026** | - On July 22, 2025, the company entered into an "At-the-Market Offering" (ATM) agreement with Maxim Group LLC to sell up to **$25,000,000** of its common stock from time to time[155](index=155&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes revenue growth to 5G orders, accepting lower gross margins for market penetration Results of Operations Comparison (Three Months Ended June 30) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenues | $11,025,927 | $2,527,442 | +336.25% | | Gross Profit | $862,879 | $1,057,087 | -18.37% | | Gross Margin % | 7.83% | 41.82% | -33.99 pts | | Loss From Operations | ($1,925,059) | ($1,568,090) | +22.76% | | Net Loss | ($1,771,625) | ($1,576,274) | +12.40% | Results of Operations Comparison (Six Months Ended June 30) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenues | $14,625,026 | $4,820,773 | +203.38% | | Gross Profit | $2,050,749 | $1,939,717 | +5.72% | | Gross Margin % | 14.02% | 40.24% | -26.22 pts | | Loss From Operations | ($3,815,077) | ($2,995,962) | +27.34% | | Net Loss | ($3,612,146) | ($6,231,435) | -42.03% | - The sharp increase in revenue is predominantly from **5G orders** fulfilled as part of the Titan Asset Acquisition. The decline in gross margin percentage is a deliberate strategy to penetrate the global telecommunications market, with expectations of higher margins in the latter half of 2025 and beyond[171](index=171&type=chunk)[172](index=172&type=chunk)[173](index=173&type=chunk) - Research and development expenses increased by **89.78%** for the six-month period to **$1.4 million**, mainly for the development of the MIMO 64T64R Oran Cat B radio network and low-noise block down converter units (LNBs)[184](index=184&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is a smaller reporting company and is not required to provide the information for this item - As a smaller reporting company, AmpliTech Group is not required to provide quantitative and qualitative disclosures about market risk[199](index=199&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were not effective as of June 30, 2025, due to material weaknesses - The CEO and CFO concluded that disclosure controls and procedures were **not effective** as of June 30, 2025[200](index=200&type=chunk) - The ineffectiveness is due to material weaknesses related to a lack of written documentation of internal controls, ineffective IT general controls, and a lack of personnel to ensure adequate segregation of duties[202](index=202&type=chunk) - Despite the material weaknesses, management believes the financial statements included in the report are **fairly presented** in all material respects[200](index=200&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no pending legal proceedings to which it is a party or of which any of its property is the subject - As of the report date, there are **no pending legal proceedings** against the company[208](index=208&type=chunk) [Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor highlights increased U.S. government tariffs on imported products, potentially impacting revenues and profitability - A new risk factor has been identified related to increased U.S. government tariffs on imported products, which could negatively impact the company's revenues, profitability, and cash flows[210](index=210&type=chunk) - The tariffs affect countries where the company sources raw materials and components, which may force an increase in the selling prices of its finished products[210](index=210&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities or use of proceeds during the period - None reported for the period[211](index=211&type=chunk) [Other Information](index=40&type=section&id=Item%205.%20Other%20Information) The company reported no other information for this item - None reported for the period[213](index=213&type=chunk) [Exhibits](index=41&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including officer certifications and XBRL data files - The exhibits include certifications from the Principal Executive Officer and Principal Financial Officer, as well as XBRL instance documents[214](index=214&type=chunk)

Core Viewpoint - AmpliTech Group, Inc. reported record sales exceeding $11 million for Q2 2025, marking the highest quarterly sales in the company's history, and emphasized a strategic investment approach to secure long-term positions in high-growth sectors such as ORAN 5G networks, quantum computing, and satellite communications [1][6][12] Financial Performance - The company achieved sales of over $11 million in Q2 2025, surpassing total sales for the entire fiscal year 2024 [6] - Despite lower gross profit margins in Q2 2025 due to one-time costs associated with rapid product delivery, management expects regular gross margins to be achievable over the next six months [6][12] - Cash and cash equivalents as of June 30, 2025, were $16,423,238, with working capital of $16,163,710 and no long-term debt [6] - Revenue growth for FY 2025 is projected to exceed 100% year-over-year, with guidance increased to at least $24 million, representing a 140% increase over FY 2024 [12] Strategic Outlook - AmpliTech's focus on ORAN 5G networks, quantum computing, and satellite connectivity is expected to drive significant growth, with ORAN 5G infrastructure projected to reach over $42 billion globally by 2030 [4][7] - The company is uniquely positioned as the only U.S.-based provider of complete, vertically integrated networking solutions, which is expected to enhance its growth trajectory amid increasing demand for secure communications equipment [5][8] - Management believes that the strategy of accelerated market penetration and recurring follow-on orders will establish AmpliTech's products as embedded solutions in next-generation infrastructure [4][8] Market Position - AmpliTech's ORAN 5G radios are recognized as the largest deployment of their kind globally, positioning the company as a leader in the ORAN radio products market [11] - The company’s MMIC LNA modules and LNBs are expected to see growing demand as U.S. and allied nations transition away from foreign component suppliers, creating additional revenue streams with strong margin potential [8][11]

Core Viewpoint - AmpliTech Group, Inc. is set to release its Q2 2025 earnings report on August 14, 2025, and will host an investor conference call on the same day to discuss the results [1]. Company Overview - AmpliTech Group, Inc. is a designer, developer, and manufacturer of advanced signal processing components for various communication networks, including satellite, Public and Private 5G, and 6G systems [1][3]. - 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 [3]. - AmpliTech serves global markets such as satellite communications, telecommunications (5G & IoT), space exploration, defense, and quantum computing, focusing on technology and innovation [3]. Investor Call Details - The investor conference call is scheduled for August 14, 2025, at 5:00 PM ET, with dial-in numbers provided for both domestic and international participants [2]. - An audio file and transcript of the call will be made available on AmpliTech's news page after the event [2].

Group 1 - The article discusses the excitement and challenges of being the first to cover a stock on Seeking Alpha, emphasizing the need for higher standards in company presentations [1] - The author has a beneficial long position in AMPG shares, indicating a personal investment interest in the company [1] - The article reflects the author's own opinions and is not influenced by compensation from any company mentioned [1] Group 2 - Seeking Alpha clarifies that past performance does not guarantee future results, and no specific investment recommendations are provided [2] - The platform does not act as a licensed securities dealer or investment adviser, highlighting the independent nature of its analysts [2] - Analysts on Seeking Alpha include both professional and individual investors, some of whom may not be licensed or certified [2]

Core Insights - AmpliTech Group, Inc. anticipates significant growth opportunities in its AGMDC and Spectrum Semiconductor Materials divisions due to a new U.S.-EU trade deal aimed at enhancing semiconductor manufacturing in the United States [1][5] Industry Overview - The trade deal is designed to accelerate domestic semiconductor production, fostering a stronger supply chain and reducing reliance on foreign sources [2] - As U.S.-based chip manufacturing capacity expands, there is an expected substantial increase in demand for innovative fabless chip design and post-wafer testing and packaging services [2] Company Positioning - AmpliTech's AGMDC division, which specializes in low-noise amplifiers (LNAs) and monolithic microwave integrated circuits (MMICs), is well-positioned to benefit from the anticipated surge in demand for high-performance RF and microwave components [3] - The Spectrum Semiconductor Materials division will also see growth as it provides advanced packaging solutions and distribution for semiconductor devices, supporting the expanding U.S. semiconductor ecosystem [4] Leadership Perspective - CEO Fawad Maqbool emphasized that the U.S.–EU trade agreement is a pivotal move in reshaping the global semiconductor landscape, predicting a surge in demand for both fabless chip design and advanced packaging solutions, which are core strengths of AmpliTech [5]

Core Insights - AmpliTech Group's AGMDC division has joined the Texoma Semiconductor Tech Hub (TSTH), enhancing semiconductor innovation and manufacturing capabilities in North Texas and Southern Oklahoma [1][4] - The collaboration aims to foster partnerships with regional leaders, share best practices, and contribute to the growth of the domestic semiconductor industry [2][3] Company Overview - AmpliTech Group, Inc. specializes in designing, developing, and manufacturing advanced signal processing components for various communication networks, including satellite and 5G systems [1][5] - The company operates five divisions, focusing on radio frequency (RF) microwave components and ORAN 5G network solutions, serving markets such as telecommunications, space exploration, and defense [5] Industry Context - The Texoma Semiconductor Tech Hub is a regional initiative led by SMU, covering 29 counties and designated as one of the inaugural Tech Hubs by the U.S. Department of Commerce under the CHIPS and Science Act [7] - TSTH aims to strengthen the U.S. semiconductor supply chain, reduce dependence on foreign sources, and promote long-term economic growth and national security [7]

Core Insights - AmpliTech Group, Inc. has joined the Texoma Semiconductor Tech Hub (TSTH), enhancing its semiconductor innovation and manufacturing capabilities in North Texas and Southern Oklahoma [1][3]. Company Overview - AmpliTech Group specializes in designing, developing, and manufacturing advanced signal processing components for various communication networks, including satellite, 5G, and 6G systems [1][4]. - The company operates through five divisions, focusing on radio frequency (RF) microwave components and ORAN 5G network solutions, serving global markets such as telecommunications, space exploration, and defense [4]. Industry Context - The Texoma Semiconductor Tech Hub is a regional initiative aimed at revitalizing the U.S. semiconductor supply chain, designated as one of 31 inaugural Tech Hubs by the U.S. Department of Commerce under the CHIPS and Science Act [5]. - TSTH encompasses 29 counties and aims to strengthen the semiconductor manufacturing capabilities in the region, positioning it as a key player in the global semiconductor landscape [5].

Core Insights - AmpliTech Group has received approximately $5 million in follow-on orders from a Tier-1 North American mobile network operator, indicating strong demand for its 5G products [1][2] - The new orders include $3 million in additional bookings beyond a previously disclosed $40 million Letter of Intent (LOI) and $2 million within the original LOI [2] - Company-wide bookings from July 1 to July 24 have exceeded $7 million, reinforcing the momentum in AmpliTech's 5G business [3] Financial Performance - AmpliTech reported nearly $11 million in unaudited revenue for Q2 2025, showcasing significant growth in its operations [3] - The increase in orders and revenue reflects successful deployment and performance of products shipped in Q2 2025 [2] Company Overview - AmpliTech Group, Inc. specializes in designing and manufacturing advanced signal processing components for satellite and 5G communications, among other applications [1][4] - The company operates through five divisions and serves various global markets, including telecommunications, space exploration, and defense [4]

Core Insights - AmpliTech Group, Inc. reported preliminary, unaudited revenue of approximately $11 million for Q2 FY 2025, ending June 30, 2025, indicating strong performance in its 5G product line [1][2][3] Revenue Breakdown - Approximately 75% of the revenue is attributed to the expansion of the 5G Open Radio Access Network (ORAN) product line through the AGTGSS division, highlighting the company's growth strategy in the 5G market [2][3] Strategic Focus - The company is focused on delivering fully interoperable ORAN solutions for Tier 1 Mobile Network Operators (MNOs) and private 5G networks, leveraging a vertically integrated model to provide high-performance components and complete system-level solutions [3][4] Growth Strategy - AmpliTech is pursuing a strategic growth plan with an emphasis on top-line revenue growth, making significant investments in scaling operations and developing its ORAN product portfolio to meet market demand [4] Future Outlook - The company anticipates a positive trajectory in revenue growth through the remainder of 2025 and into 2026, with expectations of transitioning toward sustained profitability as consistent revenue levels are established [3][4]