AmpliTech Group reports FY24 revenue $10.25M

Fawad Maqbool, Founder and CEO of AmpliTech stated, “While our FY 2024 sales were significantly impacted by geopolitical factors, we are now poised to capitalize on the strategic milestones achieved throughout the year. Our recent successes across the AmpliTech Inc. and 5G divisions, coupled with over $2.5 million in Q1 bookings for our Spectrum division, and current company’s backlog nearing $5M mark a strong start to FY 2025. We are entering the new fiscal year with a solid balance sheet, robust working capital, no debt, and enhanced visibility in the 5G space. With over $100 million in potential multi-year revenue based on the current signed and agreed to Letter of Intents the company has on hand, including a transformative IP acquisition that allows us to work directly with Canada’s second-largest MNO, we’re executing against our 5-Year Strategic Plan. Our continued investment in R&D reflects our unwavering commitment to innovation and value creation for our shareholders.”