Chronicle Journal: Finance

AmpliTech Group Inc. (NASDAQ: AMPG) Highlights from First Six Months of 2021

  • AmpliTech posted $1,024,410 in total revenue for Q2’21, a 55% increase from the same period in 2020
  • It also announced having paid off $1 million in debt while securing $0.2 million in SBA loan forgiveness
  • The company also purchased $0.4 million worth of scientific equipment to enhance product development and testing
  • The first half of 2021 also saw AmpliTech complete its financial recapitalization and Nasdaq up-listing, thereby realizing a working capital of $29.8 million
  • All these achievements are positioning AmpliTech as the key infrastructure provider that supports 5G, satellite and other radio frequency communications infrastructure globally

On August 16, 2021, AmpliTech Group (NASDAQ: AMPG) announced its financial results for the second quarter of 2021 along with the first six months of the 2021 fiscal year (“Q2’21 and 6M’21”). Additionally, the company reviewed its growth outlook, its strides thus far, and some of the key milestones it achieved in the first half of 2021 (https://ibn.fm/7BCnP).

Most notably, the company posted a 55% Q2’21 revenue growth compared to Q2’20. Total revenue stood at $1,024,410, up from $660,669 during the same period in 2020. This also represented a 117% growth from Q1’21. AmpliTech also reported that its order backlog as of the date of the announcement was…

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NOTE TO INVESTORS: The latest news and updates relating to AMPG are available in the company’s newsroom at https://ibn.fm/AMPG

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