AmpliTech Q2 revenue $2.5M, gross margin 42%, net loss $1.57M amid recessionary headwinds

AmpliTech Group, Inc.

2024-Q2 EPS reported -$0.64 revenue$4,820,773

Revenue $2.5M, gross profit $1.05M (42% margin), net loss $1.57M for Q2 2024.
Cash $1.0M, working capital $10.0M, inventory $7M; cites decreased global demand, especially from Hong Kong.
5G radio testing at Northeastern with AT&T/Verizon; expects completion in 2-3 months, plans deployment contracts in Q3.
Received first cryogenic amplifier order from major US quantum computing company; released cryogenic power supplies.
Over 100 MMIC SKUs released; custom design for space startup may lead to hundreds of thousands of units over two years.

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