AmpliTech Group Inc.

Company overview

AmpliTech Group Inc. (AMPG) is a Nevada-based parent company founded in 2010. The company and its divisions design, engineer, manufacture and distribute microwave and RF components and subsystems for markets including aerospace, government/defense, satellite communications, telecom (5G & IoT), space, quantum computing, and cybersecurity.

Core activities include custom RF/microwave amplifiers and subsystems, non-recurring engineering (NRE) services, and distribution of semiconductor packaging and lids through Spectrum Semiconductor Materials (SSM). Since 2021 the company has completed acquisitions, established MMIC design and ORAN-focused divisions, and completed a 2025 asset purchase related to 5G ORAN radio products (Titan APA).

Divisions and offerings

• AmpliTech, Inc.

  • Designs, engineers and assembles connectorized RF amplifiers and related subsystems
  • Frequency range: 50 kHz to 44 GHz
  • Products: low noise amplifiers (LNAs), medium power amplifiers, cryogenic amplifiers, LNBs, custom assemblies

• AGMDC (AMPLItech Group MMIC Design Center) — Texas

  • MMIC chip design and manufacturing
  • Offers LNAs, power amplifiers, filters, attenuators, and thru lines in chip form
  • Over 125 MMIC chip technology products released since inception

• Specialty Microwave (SMW) — acquired Sept. 12, 2019

  • Designs and manufactures passive microwave components and subsystems to customer specifications
  • Product areas: waveguides, waveguide adapters, force-mounted components, and related assemblies

• Spectrum Semiconductor Materials (SSM) — acquired Dec. 15, 2021

  • Global distributor of IC packaging and lids for semiconductor device assembly, prototyping, testing and production

• AGTGSS (AGT Group True G Speed Services) — formed Aug. 2022

  • ORAN focus: 5G radios, ORAN-compliant O-RU deployment, system integration
  • Services: managed services, cybersecurity, cloud services, data sciences, telco cloud; private 5G network deployments

• Titan APA (asset purchase completed March 26, 2025)

  • Asset purchase from Titan Crest, LLC for IP and assets related to 5G ORAN radio products
  • Aggregate purchase price: $8.0 million (cash $4.0M and $4.0M in restricted stock)
  • Contingent second milestone: $2.5M in stock and $0.5M cash tied to IP transfer
  • $3.0M contingent liability recorded as of 12/31/2025

Technology and intellectual property

• Technologies include hybrid RF design topologies: Discrete MIC, PHEMT, MIC and Low Noise MIC
• Four USPTO patents granted
• IP strategy centers on proprietary IP and trade secrets to support growth in 5G/6G, quantum computing and cybersecurity

Markets and customers

• End markets: SATCOM, aerospace/defense, space, 5G/IoT/wireless infrastructure, quantum computing and related high-frequency applications
• Customers include Telus, Viasat, L3 Harris Technologies, CPI, Lockheed Martin, Microsemi, Paramount Global, among others
• Customer concentration: as of 12/31/2025 one customer accounted for 42.86% of total revenue
• Global reach: customers in the U.S., Europe and South Asia

Operations, facilities and manufacturing

• Corporate headquarters and primary manufacturing: Hauppauge, New York — approximately 20,000 sq ft
  • Lease: approximately $28,854 monthly rent; seven-year, two-month term; base rent escalates 2.75% annually
• San Jose, California: 11,500 sq ft facility (acquired with SSM)
  • Lease extended to 3/31/2030; base rent $24,234 with ~3% annual increases
• Allen, Texas: 1,900 sq ft facility (opened 8/1/2024)
  • Triple net lease; base rent $53,675 with 2.5% annual increases; first month abated
• Workforce: approximately 46 full-time employees and 1 part-time employee as of March 19, 2026

Financial snapshot (selected figures)

• Net losses: $7,007,155 in 2025; $11,242,404 in 2024
• Accumulated deficit: $28,019,282 as of 12/31/2025
• Capital raising activities:
  • ATM Offering: up to $25 million; not utilized by 12/31/2025
  • Revolving credit line: up to $750,000; balance $0 as of 12/31/2025; not renewed after expiration
  • Amended and Restated 2020 Equity Incentive Plan: increased by 2,800,000 shares; approved 12/10/2025; remaining option pool ~3,487,375 shares available as of 12/31/2025
  • Rights Offering: commenced Oct 2025; closed Jan 14, 2026; net proceeds approximately $8.10 million after fees
  • Registered Direct Offering: Jan 2026; 2,230,000 units sold; net proceeds approximately $8.32 million
• Nasdaq listing and trading:
  • Series A Rights and Series B Rights listed on NASDAQ as AMPGR and AMPGZ on 2/3/2026
  • Common stock trades on the Nasdaq Capital Market under the symbol AMPG; closing price around $2.56 on 3/23/2026

Supply chain and compliance

• Supplier concentration (2025): Supplier A accounted for 58.28% of material purchases; total materials purchased approximately $17.50 million
• Certifications and registrations: ISO 9001:2015 and AS9120B for distribution; CMRT, RoHS, REACH; SAM registration

Regulatory and governance notes

• The company protects intellectual property through confidentiality agreements and trade secrets and acknowledges potential exposure to IP-related disputes
• The company identifies risks from supply chain disruptions, geopolitical tensions, tariffs and other macroeconomic factors
• The company reported ongoing material weaknesses in internal control over financial reporting and has described remedial actions

Sales and marketing

• Sales channels and tactics: trade shows (IMS, MWC, Satellite Show), strategic alliances, e-commerce dashboard, and engagement with government and defense customers
• Strategic focus on expanding from core LNAs and RF amplifiers into MMICs, 5G ORAN radios, cryogenic amplifiers and related subsystems

Summary

AmpliTech Group Inc. designs and manufactures high-frequency RF/microwave amplifiers and related subsystems, operates MMIC design and ORAN-focused divisions, distributes IC packaging materials, and is expanding into full 5G ORAN radio solutions and related services. The company serves a diverse but concentrated customer base, has reported losses, and completed multiple capital-raising transactions in late 2025 and early 2026.