AmpliTech FY2022 revenue surges 267% to $19.4M; gross margin expands to 46%

AmpliTech Group, Inc.

2023-Q1 EPS reported -$0.06 revenue$4,112,299

Revenue of $19.4M up 267% YoY; gross profit $8.9M (7-fold increase) with margin of 46% vs 24.5%.
Net loss narrowed to $677K (FY21 loss $4.8M); one-time earnout of $816K impacted profitability.
Cash and equivalents $13.3M; working capital $20.3M as of Dec 31, 2022.
MMIC chips released for customer testing; revenue expected to begin in Q2 2023.
Management expects sustained profitability in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AmpliTech Group, Inc. reported year ended December 31, 2022 results: revenue $19,394,000, net income -$677,000.

Period: year ended December 31, 2022
Revenue: $19,394,000
Net income: -$677,000
Result: reported results

Exact text from the filing

· Revenue increased 267% to $19,394,000 in FY’22 compared to $5,275,000 in FY’21. · FY’ 22 gross profit grew to $8,925,000, an almost 7-fold increase from FY’ 21 gross profit of $1,293,000. The gross profit margin increased by 2150 basis points to 46.0% compared to 24.5% a year ago. · FY’22 net loss was $677,000 compared to a FY’21 net loss of $4,759,000, a positive swing of approximately $4.1 million.

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Source: SEC EDGAR

accession 0001477932-23-002017

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