Shares of AmpliTech Group Inc. rose 6% on Thursday after the company secured approximately $7.3 million in follow-on orders for its 5G O-RAN radio systems from an Asian mobile network operator.
The orders, issued under a previously announced Letter of Intent program, mark renewed purchasing activity following the deployment of AmpliTech's O-RAN radios at the operator's 5G sites. The company also recently received similar follow-on orders to support a North American mobile network operator program.
AmpliTech designs and manufactures radio frequency microwave components and 5G communication systems, including low noise amplifiers, cryogenic amplifiers, Massive MIMO O-RAN radio systems, and 5G Network-in-a-Box solutions. The company serves defense, satellite communications, quantum computing, and telecommunications sectors.
Fawad Maqbool, Chairman, CEO, and CTO of AmpliTech Group, said the follow-on orders demonstrate strong commercial validation of the company's technology and execution capabilities.
