Shares of AmpliTech Group Inc. rose 6% on Thursday after the company disclosed additional orders worth approximately $7.3 million from an Asian mobile network operator for its 5G O-RAN radio systems.
The orders mark a resumption of procurement under a previously announced Letter of Intent program, following the deployment of AmpliTech's O-RAN radios at the operator's 5G sites. The company noted that these orders re-establish the program's momentum after an initial deployment phase. Similar recent orders were received 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, O-RAN Massive MIMO radio systems, and 5G Network-in-a-Box solutions. Its client base spans defense, satellite communications, quantum computing, and telecommunications sectors.
Fawad Maqbool, Chairman, CEO, and CTO of AmpliTech, said the company is pleased to receive the additional orders in support of the Asian operator's deployment. "We believe recurring orders following deployment represent strong commercial validation of our technology and execution capabilities," Maqbool stated.
