AmpliTech Group, a designer, developer, and manufacturer of custom and standard state-of-the-art RF components for Commercial, SATCOM, 5G, Quantum computing, Space, Defense, and Military markets, announced that its order backlog has reached $2.2 million at the end of the first quarter of this fiscal year. This is a record order backlog for the company early in the year.
Fawad Maqbool, CEO, stated, "We are pleased to see the backlog build to this level by the end of the first quarter. This portends the increase in demand and revenues for upcoming quarters."
The Company is in the process of bolstering its management team and resources pursuant to its plan as outlined in the S-1 filing and recent $11 million capital raise in February. With the funds necessary to build and grow the company's disruptive technology base, it is well positioned to generate increased revenues from the rapidly emerging technology market sectors it is targeting.
