AmpliTech Group receives $2.9 million in follow-on 5G orders

AmpliTech Group Inc. (NASDAQ: AMPG) announced it received purchase orders totaling nearly $3 million as part of a $40 million letter of intent from a Tier 1 mobile network operator disclosed earlier this year.

The orders are for ORAN 5G radio products and are scheduled for delivery within the company's fiscal year 2025, according to a press release issued Tuesday. The Hauppauge, New York-based company designs and manufactures signal processing components for satellite, public and private 5G, and other communications networks.

"Receiving these follow-on orders as part of our agreed to LOI with TIER 1 MNO, further validates their confidence to continue placing orders with us," said Fawad Maqbool, CEO and CTO of AmpliTech Group.

The company reported that follow-on orders from both of its major letters of intent now exceed $5 million. AmpliTech Group operates five divisions including AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services.

The orders add to the company's ORAN 5G orders backlog, with deliveries currently underway to meet weekly delivery requirements from 5G ORAN customers.

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