Revenue: As of FY2026 Q1, the actual value is USD 5.349 M, beating the estimate of USD 5 M.EPS: As of FY2026 Q1, the actual value is USD -0.06.EBIT: As of FY2026 Q1, the actual value is USD -1.679 M.<h4>Segment Revenue</h4>AmpliTech Group, Inc.’s total sales increased by $1,750,347, or approximately 48.63%, to $5,349,446 for the three months ended March 31, 2026, from $3,599,099 for the same period in 2025.Revenue for the Manufacturing and Engineering Segment increased to $3,283,537 for the three months ended March 31, 2026, from $985,536 for the same period in 2025. Domestic sales for AmpliTech Inc. and Specialty Microwave within this segment rose to $1,295,809 in Q1 2026 from $714,121 in Q1 2025, while international sales increased to $1,987,728 in Q1 2026 from $271,415 in Q1 2025.The Distribution Segment’s revenue decreased to $2,065,909 for the three months ended March 31, 2026, from $2,613,563 for the same period in 2025. Domestic sales for Spectrum in this segment decreased to $1,187,195 in Q1 2026 from $1,605,114 in Q1 2025, and international sales decreased to $878,714 in Q1 2026 from $1,008,449 in Q1 2025.<h4>Operational Metrics</h4>Consolidated gross profit increased by $1,378,996, or 116.09%, to $2,566,866 for Q1 2026 from $1,187,870 for Q1 2025. Consolidated gross margin improved to 47.98% for Q1 2026 from 33.00% for Q1 2025, attributed to a more favorable product mix in manufacturing and early benefits from scaling 5G operations.Consolidated cost of goods sold increased by $371,351, or 15.40%, to $2,782,580 for Q1 2026 from $2,411,229 for Q1 2025. Specifically, the Manufacturing and Engineering segment’s cost of goods sold was $1,689,908 in Q1 2026 compared to $767,054 in Q1 2025, while the Distribution segment’s cost of goods sold was $1,092,672 in Q1 2026 compared to $1,644,175 in Q1 2025.Selling, General and Administrative Expenses increased by $1,344,713, or approximately 57.51%, to $3,682,928 for Q1 2026 from $2,338,215 for Q1 2025, primarily due to higher parent company costs and increased trade show expenses for the 5G division. Research and Development Expenses decreased by $236,627, or 32.0%, to $503,046 for Q1 2026 from $739,673 for Q1 2025, as key products moved from development to commercialization. Q1 2026 R&amp;D expenses included $128,429 for 5G expenses and $374,617 for MMIC design expenses, compared to Q1 2025 R&amp;D expenses of $306,627 for 5G and $433,046 for MMIC design expenses.Consolidated loss from operations decreased by $270,910, or 14.33%, to -$1,619,108 for Q1 2026 from -$1,890,018 for Q1 2025. Consolidated net loss decreased by $318,814, or 17.32%, to -$1,521,707 for Q1 2026 from -$1,840,521 for Q1 2025. The Manufacturing and Engineering segment reported a net loss of -$448,936 in Q1 2026 compared to -$1,583,194 in Q1 2025, while the Distribution segment had a net income of $123,370 in Q1 2026 compared to $219,491 in Q1 2025. Corporate net loss was -$1,196,141 in Q1 2026 compared to -$476,818 in Q1 2025.Consolidated interest income, net, was $59,437 for Q1 2026 compared to $49,497 for Q1 2025. The Manufacturing and Engineering segment’s interest income, net, was $29,139 in Q1 2026 compared to $39,571 in Q1 2025, and corporate interest income, net, was $30,298 in Q1 2026 compared to $9,926 in Q1 2025. The company recorded an unrealized gain on investments of $37,964 for Q1 2026 due to market fluctuations.<h4>Cash Flow</h4>Net cash used in operating activities was -$3,140,825 for Q1 2026, primarily due to net loss and changes in working capital accounts, compared to -$2,008,947 for Q1 2025. Net cash used in investing activities was -$6,580,128 for Q1 2026, mainly for net investment in marketable securities, which contrasts with -$361,045 for Q1 2025 for equipment purchase. Net cash provided by financing activities was $9,843,439 for Q1 2026, primarily from net proceeds from rights offering and registered direct offering, compared to net cash used of -$3,791 for Q1 2025, mainly for repayments of financing lease obligations.<h4>Unique Metrics and Capital Position</h4>As of March 31, 2026, marketable securities (U.S. treasury bills) totaled $6,618,092. Total long-term deposits increased to $2,266,175 as of March 31, 2026, from $1,469,764 as of December 31, 2025, including deposits for a dedicated production line, 5G campus development, and IoT sprayer development. Working capital was $25,381,638 as of March 31, 2026, compared to $10,157,641 as of December 31, 2025. The accumulated deficit was -$29,540,989 as of March 31, 2026, compared to -$28,019,282 as of December 31, 2025.<h4>Future Outlook and Strategy</h4>AmpliTech Group, Inc. plans to patent its proprietary IP and expand capabilities through strategic partnerships, joint ventures, and M&amp;A with key industry leaders in 5G/6G, quantum computing, and cybersecurity markets. This strategy aims to scale products and revenue by developing full systems and subsystems, positioning the company as a global leader in emerging technology sectors and addressing large volume markets. The company believes its existing cash and cash equivalents of $11,807,881, working capital, current and forecasted operations, and cash flows will be sufficient to meet obligations and capital requirements for the next 12 months.

AmpliTech | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 5.349 M