AmpliTech (US:AMPG)2025-11-14 11:07Financial Performance - Revenues increased from $2,834,512 for the three months ended September 30, 2024, to $6,093,832 for the three months ended September 30, 2025, an increase of approximately 114.99%[190] - Gross profit for the three months ended September 30, 2025, was $2,959,643, an increase of $1,611,714, or 119.57%, compared to $1,347,929 for the same period in 2024[191] - Sales increased from $7,655,285 for the nine months ended September 30, 2024, to $20,718,858 for the nine months ended September 30, 2025, an increase of approximately 170.65%[199] Expenses - Selling, general and administrative expenses increased to $2,481,580 for the three months ended September 30, 2025, from $1,864,245 for the same period in 2024, an increase of approximately 33.11%[193] - Research and development costs for the three months ended September 30, 2025, were $699,319, an increase of $126,897 or 22.17% compared to $572,422 for the same period in 2024[195] - Cost of goods sold increased from $4,367,639 for the nine months ended September 30, 2024, to $15,708,466 for the nine months ended September 30, 2025, an increase of 259.66%[200] - Research and development costs for the nine months ended September 30, 2025, were $2,097,787, an increase of $788,488, or 60.22%, compared to $1,309,299 for the same period in 2024[203] Net Loss - Net loss for the three months ended September 30, 2025, was $188,373, compared to a net loss of $1,189,683 for the same period in 2024[198] - The Company reported a net loss of $3,800,519 for the nine months ended September 30, 2025, compared to a net loss of $7,421,118 for the same period in 2024[207] Cash Flow - Net cash used in operating activities for the nine months ended September 30, 2025, was $5,259,588, an increase from $4,128,869 in the same period of 2024[208][209] - Net cash used in investing activities for the nine months ended September 30, 2025, was $5,670,128, compared to $3,275,342 in 2024, primarily for equipment purchases and the Titan Asset Acquisition[210] - Net cash from financing activities for the nine months ended September 30, 2025, was $926, a significant decrease from $1,754,735 in 2024, which was mainly from the issuance of common shares[211][212] Financial Position - As of September 30, 2025, the company had cash and cash equivalents of $8,387,194 and working capital of $14,017,641, down from $19,315,984 and $26,795,745 respectively as of December 31, 2024[213] - The accumulated deficit increased to $24,812,646 as of September 30, 2025, from $21,012,127 at the end of 2024[213] - The company believes it can meet its obligations and capital requirements for the next 12 months based on current cash and forecasted cash flows[213] Accounting and Compliance - There have been no significant changes to critical accounting policies during the nine-month period ended September 30, 2025[215] - The company regularly assesses the impact of changes in laws and regulations on its financial results[216] - No off-balance sheet transactions were reported[217] - Smaller reporting companies are not required to provide market risk disclosures[218] Strategic Initiatives - The Company is strategically investing in building long-term business relationships with global network operators by providing innovative, carrier-grade ORAN true 5G radios and high-performance private 5G solutions[192]