Amplitech Group (AMPG) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $8.1M, up 51% sequentially but down 26.8% year-over-year, reflecting lower 5G product sales and higher operating expenses.

• Gross profit and margin improved substantially year-over-year to $2.25M and 27.9%, driven by a favorable product mix and higher-margin offerings.

• Significant investments were made in R&D, production readiness, supply chain, sales, marketing, and IT infrastructure to support growth in 5G, telecom, satellite, and semiconductor markets.

• The company is focused on converting recent investments into commercial revenue and operating leverage as it scales commercialization across multiple markets.

• Distribution segment sales grew significantly, offsetting declines in other areas, while R&D and SG&A expenses rose due to expanded development and marketing efforts.

Financial highlights

• Q2 2026 revenue: $8.1M (up 51% sequentially from Q1's $5.35M, down from $11.0M in Q2 2025); six-month revenue: $13.4M (down from $14.6M year-over-year).

• Q2 2026 gross profit: $2.25M, up 161% year-over-year; gross margin rose to 27.9% from 7.8%.

• Q2 operating loss: $3.2M; net loss: $3.09M (vs. $1.8M loss in Q2 2025), reflecting increased investment.

• SG&A expenses rose to $4.1M in Q2 2026 (up 91% year-over-year); R&D expenses: $1.37M (up 109% year-over-year), with $1.08M for 5G development.

• Cash and equivalents at June 30, 2026: $12.95M; working capital: $22.93M; total assets: $58.51M; stockholders' equity: $46.75M.

Outlook and guidance

• Management withdrew prior $50M full-year revenue guidance due to customer-driven timing shifts in large 5G deployments.

• Significant growth and a stronger second half of 2026 are expected, with $6M+ in follow-on orders received in July.

• Management expects to meet obligations and capital requirements for the next 12 months based on current cash, working capital, and forecasted operations.

• Focus remains on scaling revenue, improving operating leverage, and advancing 5G O-RAN and MMIC programs.

• No cancellations or changes in LOIs; timing of revenue recognition is uncertain but opportunities remain active.