2022 Annual Revenue increases nearly 3x to $19.4M, Gross Profit increases nearly 7-fold, Gross Margin almost doubles
Hauppauge, NY, April 10, 2023 – McapMediaWire – AmpliTech Group, Inc. (NASDAQ: AMPG) a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite, 5G, and other communications networks and a worldwide distributor of packages and lids for integrated circuit assembly, and designer of complete 5G/6G systems, today announced that it will host its quarterly earnings call for Q4 2022 on Monday April 10th at 4:00 p.m. ET to review the progress of its growth initiatives and answer investor questions.
Investor Call Details
Date/Time: Monday, April 10th at 4:00 pm ET
Dial-in Number: 1-833-630-0019 (domestic) or 1-412-317-1807 (international)
Online Replay/Transcript: Audio file and call transcript will be posted to AmpliTech’s news page when available.
Investor Questions: May be submitted to firstname.lastname@example.org prior to or during the call
In a year marked by impressive growth and success, AmpliTech’s 2022 earnings showcase a nearly three-fold increase in year-over-year revenue, rising from $5.3 million to $19.4 million. Additionally, the Company’s gross margins were almost double from 24.5% to a company high 46.0%, highlighting the efficiency and effectiveness of its operational strategies.
The earnings call will be led by AmpliTech’s CEO and key executives, who will provide an in-depth review of the company’s financial results, recent achievements, and future outlook. Investors, analysts, and media are invited to join the call to gain insights into AmpliTech’s continued success and its plans for sustained growth and expansion.
Notable achievements contributing to AmpliTech’s high growth in 2022 include strategic acquisitions, innovative product launches, and key partnerships with industry-leading organizations. These accomplishments have allowed the company to solidify its position as a leader in its market and expand its global presence.
To participate in the April 10th earnings call, please refer to the above dial-in information.
About AmpliTech Group
AmpliTech Group, Inc. designs, develops, manufactures, and distributes state-of-the-art radio frequency (RF) microwave components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. In December 2021, AmpliTech completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. a global specialty distributor of semiconductor components based in San Jose, CA. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of our focused team’s unique skills, experience and dedication, which enables us to deliver superior solutions, faster time to market, competitive pricing, excellent customer satisfaction and repeat business. For more information, visit: www.amplitechgroup.com
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its oﬃcers with respect to, among other things: (i) the Company’s ability to execute its business plan as anticipated; (ii) trends affecting the Company’s ﬁnancial condition or results of operations; (iii) the Company’s growth strategy and operating strategy. The words “may” “would” “will” “expect” “estimate” “anticipate” “believe” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identiﬁed and described in more detail in the “Risk Factors” section of the Company’s ﬁlings with the SEC, which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising these forward-looking statements, except as required by applicable law.
Shan Sawant, Director of Communications
AmpliTech Group, Inc.