AmpliTech Group, a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite, 5G, and other communications networks and a global distributor of packages and lids for integrated circuit assembly, reported record revenue for its fourth quarter and year ended December 31, 2021 (Q4’21 and FY’21) and provided an update on its Q1’22 revenue expectations. AmpliTech will soon host an investor to go over these details. Revenue in 2021 rose to $5,275,434 as compared to $3,458,081 in 2020.
“AmpliTech solutions enable customers to move data with greater efficiency, reliability and lower cost. These benefits are essential for bandwidth-intensive services from 5G communications to quantum computing - and from AI and the Metaverse to autonomous vehicles. We are committed to building the cutting-edge infrastructure these opportunities require.” – Fawad Maqbool, AmpliTech Founder & CEO.
Q4 & 2021 Highlights
- Q4’21 revenue rose 206% to a record $2,721,452 vs. $890,702 in Q4’20.
- 2021 revenue rose 53% to a record $5,275,434 vs. $3,458,081 in 2020.
- Year-end cash and equivalents were $18.0M ($1.87 per share), providing financial strength to support long-term growth and to engage with large global customers.
- Launched its AmpliTech Group MMIC chip Design Center (AGMDC) in Plano, TX, led by a team of highly experienced radio frequency (RF) chip design engineers. Completed production of initial MMICs for customer sampling in Q1’21. The Company expects production units to be available for commercial sale by the end of Q2’22.
Q1 2022 Update
- AmpliTech currently expects Q1’22 revenue of about $4.8M versus $0.5M in Q1’21. The increase reflects a full quarter’s benefit of the Spectrum Semiconductor operations acquired late in Q4’21, as well as growth in Low Noise amplifier (LNA) deliveries. AmpliTech expects an operating loss in Q1’22 as it continues to invest in its MMIC and 5G solutions and completes its move into the Company’s new headquarters and production facility.
- Giving effect to Q1’22 product shipments to date, AmpliTech’s current order backlog is $9.3M, representing contractual hardware and engineering services anticipated for delivery over approximately six months.
AmpliTech is a world-leading developer and U.S. manufacturer of Low Noise Amplifier (LNA) components that increase the power of a radio signal while eliminating the distortion or “noise” that can degrade or destroy digital signals. AmpliTech believes its LNA technology can play a vital role in enabling substantial performance, bandwidth and cost improvements in satellite communications and in achieving gigabit data transmission speeds in next-generation 5G networks. AmpliTech is also translating its LNA technology into smaller, more flexible and lower-cost MMIC semiconductor chip form factor designs. MMICs, or monolithic microwave integrated circuits, are used in high-frequency communications applications such as signal amplifiers and filters for mobile phones or satellites. Click here to see LNA MMICs from Amplitech.
CEO Commentary
Fawad Maqbool, CEO, commented, “AmpliTech made substantial strides in 2021 positioning our company and industry leading technologies for significant growth. It is exciting to see our efforts being realized in solid Q4’21 revenue growth and further momentum in Q1’22.
“During the year we recapitalized the company; acquired Spectrum Semiconductor; built-out our sales, marketing and management team and infrastructure; invested in state-of-the-art testing and production equipment; secured a new, expanded Long Island headquarters, production and testing facility where we are combining our existing facilities. We also expanded our sales and marketing outreach and engagement to pursue large market opportunities in satellite communications, 5G connectivity, quantum computing and other areas.
“Our Q4 and full year results reflect our progress in building customer demand, as well as the range of investments we have made to position AmpliTech for growth, including one-time costs for our recapitalization and Nasdaq up-listing. Much of our investment in repositioning the business is now behind us, and we will be completing the move to our new HQ in early April. We can now turn our full focus on executing across the business and bringing our MMIC chips and 5G system solution to the market. Given our strong order backlog, the industry leading performance of our solutions, and the rapidly growing need for increased signal performance in our target markets, we believe AmpliTech is very well positioned for growth. While our business will likely remain variable on a quarter-to-quarter basis, due to the timing of large customer orders, we are confident in our outlook.”
Click here to learn more about AmpliTech.
