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Leases | 9 Months Ended
--- | ---
Sep. 30, 2025
Leases |
Leases | (10) Leases The following was included in our balance sheet as of September 30, 2025: Schedule of Lease Assets and Liabilities
|  | September 30, |
|  | 2025 |
Operating leases |  |  |
Assets |  |  |  |
ROU operating lease assets |  | $ | 3,997,574 |
Liabilities |  |  |  |
Current portion of operating lease |  | $ | 486,269 |
Operating lease, net of current portion |  | $ | 3,768,871 |
Total operating lease liabilities |  | $ | 4,255,140 |
Financing leases |  |  |  |
Assets |  |  |  |
Property and equipment, gross |  | $ | 80,426 |
Accumulated depreciation |  |  | (38,499 | )
Property and equipment, net |  | $ | 41,927 |
Liabilities |  |  |  |
Current portion of financing lease |  | $ | 17,373 |
Financing lease, net of current portion |  | $ | 25,901 |
Total financing lease liabilities |  | $ | 43,274 |
AmpliTech Group, Inc. Notes To Condensed Consolidated Financial Statements For the Nine Months Ended September 30, 2025 and 2024 The weighted average remaining lease term and weighted average discount rate at September 30, 2025 are as follows: Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate
Weighted average remaining lease term (years) |  | Sept. 30, 2025 |
Operating leases |  |  | 7.25 |
Financing leases |  |  | 2.79 |
Weighted average discount rate |  |  |  |
Operating leases |  |  | 6.33 | %
Financing leases |  |  | 7.39 | %
Operating Leases On October 15, 2021, the Company entered a new lease for a 20,000 square foot facility at 155 Plant Avenue, Hauppauge, New York, for a term of seven years and two months. The yearly base rent of $346,242 shall increase at a rate of 2.75% per year to begin on the first anniversary lease commencement date and each year thereafter. The first two months of basic rent shall be abated following the commencement lease date. In the event the landlord decides to sell the property, the Company shall have the right of first offer to purchase subject property. Upon lease execution, the Company paid two months of base rent as a security deposit and one month’s rent totaling $86,560. The Company moved into the new manufacturing and headquarters facility April 1, 2022. On December 15, 2021, the Company assumed the SSM lease agreement for office and warehouse space in San Jose, CA, with the same terms and conditions. Effective February 1, 2020, the lease term will expire on January 31, 2025, with a base rent of $24,234 for the first 12 months and increases by approximately 3% every year. On September 6, 2024, the lease was amended extending the lease term to March 31, 2030 while maintaining the base rent of $24,234 and 3% increases for each year thereafter. On August 9, 2023, the Company entered a 39-month agreement for $20,880 to lease an automobile with a monthly payment of $605. On January 15, 2024, the Company entered a triple net lease agreement for a 1,900 square foot facility in Allen, Texas for a term of five years and one month. The yearly base rent of $53,675 shall increase at a rate of 2.5% per year to begin on the first anniversary lease commencement date and each year thereafter. The first month’s rent shall be abated following the commencement lease date. Upon lease execution, the Company paid two months of rent as a security deposit and one month’s rent totaling $17,999. The Company moved into the new facility on August 1, 2024. AmpliTech Group, Inc. Notes To Condensed Consolidated Financial Statements For the Nine Months Ended September 30, 2025 and 2024 The following table reconciles future minimum operating lease payments to the discounted lease liability as of September 30, 2025: Schedule of Future Minimum Operating Lease Payments
2025 |  | $ | 182,172 |
2026 |  |  | 743,301 |
2027 |  |  | 757,493 |
2028 |  |  | 779,311 |
2029 |  |  | 781,351 |
Thereafter |  |  | 1,980,929 |
Total lease payments |  |  | 5,224,557 |
Less imputed interest |  |  | (969,417 | )
Total lease obligations |  |  | 4,255,140 |
Less current obligations |  |  | (486,269 | )
Long-term lease obligations |  | $ | 3,768,871 |
Financing Lease The Company entered into several 60-month lease agreements to finance certain laboratory and office equipment. As such, the Company has accounted for these transactions as a financing lease. The following table reconciles future minimum financing lease payments to the discounted lease liability as of September 30, 2025: Schedule of Future Minimum Lease Payments for Finance Lease
2025 |  | $ | 5,019 |
2026 |  |  | 20,082 |
2027 |  |  | 12,094 |
2028 |  |  | 8,100 |
2029 |  |  | 3,375 |
Total lease payments |  |  | 48,670 |
Less imputed interest |  |  | (5,396 | )
Total lease obligations |  |  | 43,274 |
Less current obligations |  |  | (17,373 | )
Long-term lease obligations |  | $ | 25,901 |
AmpliTech Group, Inc. Notes To Condensed Consolidated Financial Statements For the Nine Months Ended September 30, 2025 and 2024

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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