AmpliTech Revenue Rises 8% to $6.58 Million in Third Quarter
Key Facts
AmpliTech Group reported an 8% year-over-year increase in revenue to $6.58 million for the third quarter ended September 30, 2026, compared with $6.09 million in the same period of 2025, according to the company's results statement published on Yahoo Finance. The company posted a net loss of $1.89 million, or $0.07 per basic and diluted share. The net loss was below about $3.09 million in the second quarter of 2026, marking a sequential improvement in the bottom line. Gross profit was $2.25 million, while gross margin rose to 34.2% from 27.9% in the previous quarter. The figures show a contrast between annual revenue growth and sequential improvement in the loss and margin.
At one of the company's divisions, distribution revenue at Spectrum Semiconductor Materials was about $2.89 million for the quarter, up 36.4% year over year, according to the statement. The division was one source of growth cited in the period's results, while total revenue remained at $6.58 million. On October 14, the company said it had received more than $17 million in customer purchase orders during the third quarter ended September 30. Those orders included follow-on orders for existing Open RAN programs in Asia and North America. The announced increase in purchase orders coincided with annual revenue growth, while the company also discussed delays in revenue recognition.
AmpliTech attributed delays in recognizing some revenue to technology-transfer delays, global geopolitical developments and extended customer evaluation periods, noting that some factors behind the delays were outside its control. These factors matter when assessing the conversion of orders into recognized revenue, as shipments and customers' deployment schedules affect the timing of revenue recognition, according to the company. In its October announcement, the company said more than 3,000 of its radio units had been deployed under its program with a North American mobile network operator. It also said additional opportunities with prospective customers, including requests for proposals for O-RAN solutions, remained subject to customer evaluation, competitive selection and final purchase orders. It said these opportunities "remain subject to customer evaluations, competitive selection processes and final purchase orders."
On liquidity, cash and cash equivalents and marketable securities totaled about $30.27 million as of September 30, 2026, while working capital reached about $42.14 million, according to the results statement. These figures show the company's position at quarter-end, when it posted a net loss of $1.89 million. In August, AmpliTech withdrew its previous 2026 revenue target of $50 million, then said it now expected annual revenue of at least $28 million. The company linked that forecast to customer deployment schedules, production plans and expected shipments. The new annual forecast sets a stated revenue floor after the previous target was withdrawn in August.
The company had announced that it would release third-quarter results after the market close on November 12, 2026, and scheduled a call to discuss the results for the same day at 5:00 p.m. Eastern time. In its scheduling announcement, it said the results covered the quarter ended September 30. The scheduled call provides an opportunity to present details of the results and the annual revenue forecast announced by the company. Issues related to the quarter's figures include the timing of revenue recognition amid technology-transfer delays and customer evaluations. The reported revenue trajectory is also tied to the purchase orders the company received and the customer deployment schedules, production plans and shipments underlying its 2026 forecast.