Amplitech Group Inc - AMPG STOCK NEWS

AmpliTech Group's AGTGSS Division has secured an initial order for its midband 5G radio networks from the University of Edinburgh in the UK. This order, valued at under $50,000, is part of AmpliTech's Private 5G strategy and marks a significant milestone in the company's growth strategy. The order includes hardware-only products and is scheduled for delivery within 12 weeks.

AmpliTech Group (Nasdaq: AMPG) specializes in designing and manufacturing signal processing components for satellite, public, and private 5G networks. The company offers comprehensive end-to-end solutions for deploying Private 5G Networks and hardware-only solutions. This initial order demonstrates the value of AmpliTech's 5G radio technology and its potential in both public and private 5G markets, representing a substantial multi-million-dollar opportunity.

AmpliTech Group (Nasdaq: AMPG) has announced a $1.0 million registered direct offering priced at-the-market. The company will sell 1,369,488 shares of common stock at $0.7302 per share to a single institutional investor. The offering is expected to close around September 11, 2024. Maxim Group is acting as the sole placement agent, with Bard Associates, Inc as the sole investor. The offering is made under a shelf registration statement on Form S-3 (File No. 333-278657), which became effective on April 24, 2024. AmpliTech Group specializes in designing and manufacturing signal processing components for satellite, 5G, and other communication networks, including complete 5G/6G systems design.

AmpliTech Group's AGTGSS division will showcase its comprehensive Private 5G End-to-End Solution at the Mobile World Congress shows in Las Vegas (October 2024) and Barcelona (March 2025). This strategic move aims to market their state-of-the-art 5G products and services to a global audience.

The solution includes versatile hardware like ORAN radio networks, Central and Distribution Units, and Core Servers, as well as a full line of Fixed Wireless Access (FWA) devices. AGTGSS offers expert planning and network optimization services, ensuring scalable and tailored configurations for various deployment sizes.

Key features of the Private 5G solution include autonomy, control, security, reliability, and customization. The technology is applicable across multiple industries, including military bases, airports, railyards, mines, warehouses, and smart cities.

AmpliTech Group, Inc. (Nasdaq: AMPG) has announced bookings exceeding $1 million in August 2024, driven by increased quoting activity since Q3 2024. Notable achievements include:

1. Spectrum Semiconductor Materials Division secured a $600K order from a new domestic customer.
2. Specialty Microwave Division booked a $200K order from Paramount.
3. An additional $700K single sale transaction was completed by Spectrum Semiconductor Materials Division.

CEO Maqbool highlighted the company's focus on maximizing sales efforts and expanding their online product offerings. AmpliTech is also preparing to announce initial wins for their Private 5G product line in the coming weeks, while continuing to test their Public 5G flagship product.

AmpliTech Group, Inc. (Nasdaq: AMPG) has announced the relocation of its AmpliTech Group Microwave Design Center (AGMDC) Division to the Allen Tech Hub in the Watters Creek District, Allen, Texas. This strategic move positions AGMDC within a dynamic technology community, reflecting AmpliTech's commitment to innovation and growth. The new facility offers state-of-the-art resources for advancing MMIC and Microwave Technology solutions for Public and Private 5G networks.

CEO Fawad Maqbool emphasized that this relocation will enhance the company's operational capabilities and drive cutting-edge projects. AGMDC President Jim Carrol highlighted the alignment with the company's vision and the potential for exploring new opportunities. The move is expected to facilitate collaboration, support current initiatives, and meet the increasing demand for AmpliTech's innovative, non-Chinese made products and services in the evolving 5G industry.

AmpliTech Group (Nasdaq: AMPG, AMPGW), a leader in signal processing components for satellite and 5G/6G communications, has announced its Q2-2024 Investor's Conference Call. The call is scheduled for Wednesday, August 28th, 2024, at 5:00 PM ET.

Investors can join via phone using the dial-in numbers: 1-833-630-0019 (domestic) or 1-412-317-1807 (international). An audio file and call transcript will be made available on AmpliTech's news page after the event. Investors are encouraged to submit questions to investors@amplitechgroup.com before or during the call.

This conference call provides an opportunity for investors to gain insights into AmpliTech's performance and future plans in the rapidly evolving communications technology sector.

AmpliTech Group's AGTGSS division has signed a Memorandum of Understanding (MOU) for its first Private 5G Network deployment in California, USA. This potential project, valued at over $1 million, aims to provide connectivity to thousands of users with enhanced signal reliability and security. The deployment includes ORAN P5G radio networks, Central and Distribution Units, software services, and CPE hardware products. If finalized, it could be completed within 3 months after a definitive contract agreement.

CEO Fawad Maqbool emphasized that this MOU could lead to similar projects across the US, validating AGTGSS's entry into both Public and Private 5G markets. The company anticipates expanding its footprint across multiple cities in the USA and Europe in the coming months, following this initial trial deployment.

AmpliTech Group (Nasdaq: AMPG) reported Q2 2024 financial results with revenue of $2.5 million and gross profits of $1.05 million, maintaining a 42% gross margin. The company faced challenges due to decreased global demand and recessionary market dynamics, resulting in a loss of $1.57 million for the quarter. Factors contributing to the loss include lower sales, increased corporate expenses, and ongoing R&D efforts for new 5G products.

As of June 30, 2024, AmpliTech had $1,014,204 in cash and cash equivalents and working capital of $9,995,731. The company maintains a healthy inventory position with over $7 million in raw materials and finished goods. AmpliTech is exploring alternative financing options and expects normal demand to resume in upcoming quarters based on increased RFQ activity in early Q3.

AmpliTech Group's AGTGSS Division has launched a comprehensive Private 5G End-to-End Solution for businesses and homes. This solution integrates ORAN radios, Central and Distribution Units, Antennas, Core Servers, and Fixed Wireless Access (FWA) devices. It's designed to meet the growing demand for reliable, high-performance 5G networks outside traditional cellular infrastructure.

Key features include versatile hardware, a full line of FWA devices, expert planning and optimization services, scalable solutions, and the ability to offer cloud services. The solution provides autonomy, control, security, reliability, and performance, with speeds exceeding 1 gigabit per second. It's suitable for various industries including military bases, airports, railyards, mines, warehouses, and smart cities.