AmpliTech Group, Inc. (Nasdaq: AMPG) announced unaudited financial results for the third quarter of 2026 on November 12, 2026. The company reported total revenue of $6.58 million for the quarter, representing an 8.0% increase compared to the $6.09 million generated in the third quarter of 2025. The company attributes this growth primarily to its Spectrum Semiconductor Materials distribution segment, which saw revenue increase 36.4% year-over-year to $2.89 million.
Gross profit for the third quarter was $2.25 million, with a gross margin of 34.2%. This marks a sequential improvement of approximately 6.3 percentage points compared to the 27.9% margin reported in the second quarter of 2026. However, the company noted that the year-over-year reduction in gross margin reflects higher costs of goods sold relative to revenue and a shift in product sales mix.
For the first nine months of 2026, AmpliTech reported total revenue of $20.00 million. Gross profit for the nine-month period increased 41.1% year-over-year to $7.07 million, with a gross margin of 35.3%.
On the balance sheet, as of September 30, 2026, the company held cash, cash equivalents, and marketable securities totaling approximately $30.27 million. Working capital reached $42.14 million, and total stockholders' equity was $65.72 million, a significant increase from $32.86 million at the end of 2025. The company reported net cash used in operating activities of $8.48 million for the nine-month period.
AmpliTech also highlighted substantial commercial momentum following the quarter-end. In October 2026, the company announced a record $25 million in bookings, bringing its total backlog to more than $52 million. This backlog is expected to be fulfilled between fiscal year 2026 and 2027. Specific announcements included a $21.7 million follow-on purchase order for 5G O-RAN radios and a $1.03 million order for low-noise amplifiers (LNAs) from a Fortune 1000 satellite communications customer.
Despite the strong backlog, the company adjusted its full-year 2026 revenue outlook. Previously, the company had projected $50 million in revenue, but this target was withdrawn in August 2026. Management now expects full-year 2026 revenue of at least $28 million, citing supply-chain constraints and customer-directed deployment delays as the primary reasons for the revision.
