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AmpliTech Group (AMPG) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · AmpliTech Group (AMPG) Q2 2026 earnings results →

Q2 2026 Revenue down 27% year over year to $8.1M · 38¢ of every $1 of revenue lost · operating margin -39.6%

AmpliTech Group made $8.1M in Q2 2026 (-27% Y/Y): Distribution $4.1M, Manufacturing and Engineering $4.0M. Operating margin -39.6%, net loss $3.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.

Revenue$8.1M
Year over year-27%
Operating margin-39.6%
Net earnings−$3.1M
Operating cash flow−$5.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $8.1M in Q2 2026, down 27% year over year and up 51% from the previous quarter. Distribution was the largest line at 50% of revenue.

Gross margin was 27.9%, up 20.1 points from Q2 2025. Operating costs exceeded revenue by $3.2M, an operating margin of -39.6%. Operating expenses grew 95% against a revenue fall of 27%. The fastest-growing cost line was Research & development (+109%). The quarter ended with a net loss of $3.1M, wider than the previous quarter's $1.5M loss.

Operating cash flow was −$5.5M. Non-cash charges added back $541K of depreciation and amortization and $920K of share-based compensation. Working capital and other items used $3.9M.

Quarterly history

AmpliTech Group revenue by quarterAmpliTech Group revenue by quarter$1.9MQ4 2024$3.6MQ1 2025$11.0MQ2 2025$6.1MQ3 2025$4.5MQ4 2025$5.3MQ1 2026$8.1MQ2 2026
AmpliTech Group net earnings by quarterAmpliTech Group net earnings by quarter−$3.8MQ4 2024−$1.8MQ1 2025−$1.8MQ2 2025−$188KQ3 2025−$3.2MQ4 2025−$1.5MQ1 2026−$3.1MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 13, 2026$8.1M-27%-39.6%−$3.1M−$5.5M
Q1 202610-QMay 13, 2026$5.3M+49%-30.3%−$1.5M−$3.1M
Q4 202510-KMar 26, 2026$4.5M+142%-73.3%−$3.2M−$3.4M
Q3 202510-QNov 14, 2025$6.1M+115%-3.6%−$188K−$999K
Q2 202510-QAug 14, 2025$11.0M+336%-17.5%−$1.8M−$2.3M
Q1 202510-QMay 15, 2025$3.6M+57%-52.5%−$1.8M−$2.0M
Q4 202410-KMar 31, 2025$1.9M-54%-234.5%−$3.8M−$1.2M

Charts

AmpliTech Group: revenue growth, year over year and quarter over quarterAmpliTech Group: revenue growth, year over year and quarter over quarterY/YQ/Q-54%Q4 2024+57%+94%Q1 2025+336%+206%Q2 2025+115%-45%Q3 2025+142%-27%Q4 2025+49%+19%Q1 2026-27%+51%Q2 2026
Latest (Q2 2026): Y/Y -27%, Q/Q +51%.
AmpliTech Group: where the cash came from (+) and went (−), TTM to Q2 2026AmpliTech Group: where the cash came from (+) and went (−), TTM to Q2 2026Other financing$17.4MOperating cash flow−$13.1MOther investing−$5.2MCash drawn (+) / kept (−)$2.1MCapital spending−$1.1MNet borrowing (+) / repaid (−)−$18K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
AmpliTech Group: profit against cash, quarter by quarterAmpliTech Group: profit against cash, quarter by quarterNet incomeOperating cash flow−$1.2M−$1.7MQ3 2024−$3.8M−$1.2MQ4 2024−$1.8M−$2.0MQ1 2025−$1.8M−$2.3MQ2 2025−$188K−$999KQ3 2025−$3.2M−$3.4MQ4 2025−$1.5M−$3.1MQ1 2026−$3.1M−$5.5MQ2 2026
Latest (Q2 2026): Net income −$3.1M, Operating cash flow −$5.5M.
AmpliTech Group: diluted shares by fiscal year (split-adjusted)AmpliTech Group: diluted shares by fiscal year (split-adjusted)17MFY202018MFY202119MFY202219MFY202322MFY202421MFY2025
+25.7% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY2025, 3-for-1 split before FY2021.
AmpliTech Group in its industry: growth against margin (12 companies, SIC 3669)AmpliTech Group in its industry: growth against margin (12 companies, SIC 3669)revenue growth, year over year →↑ operating marginmedian +6%median 3%LITEESEAIOTTBCHNSSCINSGREKRTRCKKSCPRSKIAASNSAMPG (-27%, -40%)
Communications Equipment, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About AmpliTech Group

AmpliTech Group Inc. (“AMPG,” “AmpliTech” or the “Company”), incorporated in 2010 in the State of Nevada, is the parent company of AmpliTech, Inc., and the Company’s divisions, Specialty Microwave, Spectrum Semiconductor Materials, AmpliTech Group MMIC Design Center (“AGMDC”) and AmpliTech Group True G Speed Services (“AGTGSS”). AmpliTech, Inc. designs, engineers and assembles micro-wave component-based amplifiers that meet individual customer specifications. Our products consist of Radio Frequency (“RF”) amplifiers and related subsystems, operating at multiple frequencies from 50kHz to 44GHz, including low noise amplifiers (“LNA”), medium power amplifiers, cryogenic amplifiers, and custom assembly designs for the global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets.

In its own words, from its 10-K, filed Mar 26, 2026.

AmpliTech Group against its Communications Equipment, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -27% against the peers' median +2%. Operating margin: -39.6% against the peers' median 2.8%.

CompanyQuarterRevenueY/YOp. margin
AMPG AmpliTech GroupQ2 2026$8.1M-27%-39.6%
LITE Lumentum HoldingsQ1 FY27$1.3B+136%28.5%
ESE ESCO TechnologiesQ3 FY26$339M+14%12.1%
AIOT PowerfleetQ1 FY27$111M+6%0.2%
TBCH Turtle BeachQ3 2026$84.7M+5%6.9%
NSSC Napco Security TechnologiesQ1 FY27$50.0M+2%28.2%
INSG InseegoQ3 2026$33.3M-28%-21.6%
REKR Rekor SystemsQ2 2026$12.7M+2%1.8%
TRCK Track GroupQ3 FY26$9.1M-0.1%2.8%

Source: AmpliTech Group 10-Q on SEC EDGAR · CIK 1518461 · Communications Equipment, NEC

13F: who owns AMPG and who is buying

Largest holders of AMPG (13F)Largest holders of AMPG (13F)Bard Associates$10.3MVanguard Capital Management LLC$6.7MBlackRock$3.6MLandscape Capital Management, L.L…$3.1MVanguard Group$2.3MGeode Capital Management, LLC$1.7MDimensional Fund Advisors LP$1.3MJane Street Group, LLC$951KEAM Investors, LLC$937KVanguard Fiduciary Trust$908K
Funds' net buying of AMPG by quarter (13F)Funds' net buying of AMPG by quarter (13F)$1.2M2024-09−$1.4M2024-12−$1.5M2025-03$822K2025-06−$1.2M2025-09$3.0M2025-12−$2.7M2026-03−$1.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on AMPG

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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