Amplified Earnings: AmpliTech (AMPG) Announces FY 2023 Earnings

Tech company, AmpliTech Group, Inc. (AMPG) announced its FY2023 financial results and investors seem to find the news positive as the stock is trading upwards of ~15%. Revenues for the year were reported at $15.6M while gross profit margins grew to nearly 47%. While they reported net losses of $2.4M, the company launched over 100 new SKUs citing a record-breaking year for new products introduction. AmpliTech’s FY 2024 outlook anticipates top line sales to come in between $35M – $40M. Furthermore they expect their stronger quarters in sales to be Q3 and Q4 with notable bookings and strategic business alliances to be announced during Q2. Today, AmpliTech is leading the PRISM NextGen Tech and AI Index.

AmpliTech Group is a technology company specializing in the design, development, and manufacture of high-performance RF (radio frequency) amplifiers and related components. Their products cater to various industries, including telecommunications, aerospace, defense, and medical sectors. AmpliTech Group is renowned for its innovative solutions that deliver superior signal amplification, low noise, and high reliability, meeting the stringent requirements of modern communication systems and other RF applications.

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Amplified Earnings: AmpliTech (AMPG) Announces FY 2023 Earnings

Ashlee Vogenthaler

Markets Editor