AmpliTech Shares Gain On Q2 Beat, Guidance Boost

AmpliTech Group, Inc (NASDAQ:AMPG) reported second-quarter FY22 revenue growth of 347.5% year-on-year to $4.58 million, beating the consensus of $4.10 million.
The gross margin expanded by 1,090 bps to 44.5%.
Net loss decreased by 21.8% to $(0.37) million.
EPS loss of $(0.04) beat the consensus loss of $(0.05).
AmpliTech held $14.4 million in cash and equivalents.
New AmpliTech TGSS service division will likely be fully functional during Q4 to help telco customers design, implement, deploy, and manage complete 5G front-end infrastructure in 5G base stations and 5G O-RAN radios.
AmpliTech's current order backlog is $8.2 million.
Outlook: AmpliTech sees a profitable Q3 and raised its FY22 revenue outlook to $17 million from the prior $15 million.
Price Action: AMPG shares traded higher by 13.74% at $2.97 on the last check Monday.