AMPGW

• Q3 2025 highlights: Quarterly revenue $6,090,000 (+115% y-o-y), gross profit $2,960,000 (48.6% gross margin), EBITDA positive nearly $200,000, net loss $188,000 vs $1,190,000 in Q3 2024.
• Nine-month 2025 highlights: Year-to-date revenue $20,700,000 (+171% y-o-y), net loss reduced to $3,800,000 from $7,400,000 in 2024. Growth from integration of ORAN IP portfolio and strong momentum in 5G-related products.
• Operational and financial highlights: Integration of ORAN IP positions as US-based vertically integrated supplier for next-gen open RAN 5G radios. Third quarter EBITDA positive through disciplined expense control and growth in high margin segments. Rights offering priced at $4 per unit for growth capital.
• R&D focus: Continued investment up 60% supporting new product development in MIMO, 64 P64 ORAN radios, private 5G network systems, and cryogenic amplifier platforms for quantum applications.

• Increased revenue guidance for fiscal year 2025 to at least $25,000,000, a 160% y-o-y increase.
• Anticipates double-digit gross margins in Q4 2025 and 2026.
• Projects positive cash flow from operations and profitability in fiscal year 2026 assuming current order pace and margin recovery.
• Expects fiscal year 2026 revenue to be at least $50,000,000, doubling fiscal year 2025's projected at least $25,000,000.

Quarterly revenue for Q3 2025 was $6,090,000, a 115% increase from Q3 2024's $2,830,000. Gross profit more than doubled to $2,960,000, representing a 48.6% gross margin, up from 47.5% in the prior year period. Year to date 2025, overall revenues surged 171% to $20,700,000 compared to $7,700,000 in the same period last year. Net loss narrowed significantly, reducing by nearly 50% from $7,400,000 in 2024 to $3,800,000 in 2025. Growth driven by integration of Apple 5G ORAN technology and strong momentum in low noise amplifiers, low noise blocks, and 5G infrastructure systems. R&D investment up 60% supporting new product development in various areas.

Q: Heard you say rights are expected to be traded when distributed?

A: Correct.

Q: More color on gross margins as scaling?

A: Have a mixed list of ORAN 5G products with different gross margins. Can't disclose specific info due to competitive nature, but expect double-digit gross margins on all products.