A reflection traveling-wave LiNbO3 modulator is used to demonstrate unamplified link gain to 550 MHz, taking advantage of its low-drive voltage (0.5 V V-pi) at low frequencies, and high optical powers. 7.5 dB of gain is achieved at 50 MHz with an optical power of 188 mW and 8.5 mA of detector current. Noise figure of the 50-MHz link is 11 dB and spur-free dynamic range is 114 dB.Hz(2/3). A model for gain is presented, which shows good agreement with experimental results.