AmpliTech Group (AMPG) is a growth primed small cap presently flying under the radar at $1.13 per share and a market cap of under $10 million. The company is ppositioned at the intersection of two of the biggest tech trends of the decade: satellite communications and 5G. Strong leadership team and a good moat of innovation versus competitors. Strong revenue growth and mature and comprehensive product lines.

AMPG makes advanced radio frequency components for use in satellite systems, 5G, and defense applications. Satellites need to receive and transmit signals, and AMPG specializes in Low Noise Block (LNB) converters, a key piece of that puzzle. They have a good and growing sales pipeline with the company recently secured a multi-year contract with a Fortune 1000 partner for these products.

They’ve also recently launched a portable 5G “Network-in-a-Box” product aimed at military, disaster recovery, and remote connectivity applications. This allows users to rapidly deploy 5G to places where traditional infrastructure can’t reach, often relying on satellite links to work. It’s a smart way to position themselves in two high-growth markets at once.

The market hasn’t caught on. The stock is trading at $1.13, while analysts have price targets north of $5.00. Some models even suggest the stock’s fair value could be closer to $6.94, which would mean it’s currently undervalued by 400–500%.

Financially, the company is still small. They pulled in $2.834 million in revenue last quarter with a gross margin of 47.6%. They’re not profitable yet—net loss was $1.19 million for Q3 2024—but they’re improving. Importantly, they have $10.07 million in working capital, so they have room to invest in growth.

What I like about AMPG is its strategic position as a U.S.-based manufacturer. With "Buy American" policies and tariffs on imported components, they have a natural advantage when it comes to defense and government contracts. Plus, as space and defense spending continues to grow, AMPG’s domestic operations could put them in a strong position to capture more business.

The risks? It’s still a small-cap stock, which means volatility and liquidity issues are real. The company also has to prove it can scale its operations and turn a profit. But if you’re looking for an early-stage play in two of the most exciting tech markets—space and 5G—AMPG is worth keeping on your radar.

This isn’t a sure thing, but the upside is hard to ignore. For anyone with a higher risk tolerance, AMPG could be a solid speculative bet.

Not financial advice—do your own due diligence.