Guerrilla RF, Inc. Secures Purchase Order for Leading Electric Automobile Manufacturer Totaling Approximately $580,000

Rhea-AI Summary

Guerrilla RF, Inc. (OTCQX: GUER) has received a purchase order for ultra-low noise amplifiers from a leading electric automobile manufacturer, with shipments set to start in March 2023 and projected revenue of $580,000 through November 2023. The amplifiers will be utilized in automotive satellite radio and GPS applications. CEO Ryan Pratt highlighted the significance of this order as a confirmation of the company's commitment to R&D and product quality, indicating strong sales growth potential.

Positive

• Secured a purchase order with a top-tier electric automobile manufacturer.
• Projected revenue of approximately $580,000 from this order.
• Amplifiers designed for high-demand automotive applications.

Negative

• None.

GREENSBORO, N.C.--(BUSINESS WIRE)-- Guerrilla RF, Inc. (OTCQX: GUER) (the “Company”), an innovative fabless semiconductor company, today announced that it has received a purchase order for ultra-low noise amplifiers for one of the world’s leading electric automobile manufacturers. The shipments are expected to commence in March 2023 and continue through November 2023, generating revenue of approximately $580,000 during that period. These ultra-low noise amplifiers are designed for automotive satellite radio multi-stage LNAs, signal boosters, and GPS applications.

Ryan Pratt, CEO and founder of Guerrilla RF, commented, “Securing a purchase order with a top-tier electric automobile manufacturer is a testament to our ability to deliver a quality product at a competitive price. This order is the result of a design win process where we successfully achieved all of the specs required by this customer. Our focus on investing in R&D is paying off as we are adding new innovative solutions to our portfolio of products. We expect our new products will drive strong sales growth.”

About Guerrilla RF, Inc.

Founded in 2013 and based in Greensboro, NC, Guerrilla RF develops and manufactures high-performance microwave integrated circuits (MMICs) for wireless OEMs in multiple market segments – including 5G/4G macro and small cell base stations, cellular repeaters/DAS, automotive telematics such as SDARS/V2X/GPS/DAB, military communications, navigation, and high-fidelity wireless audio. Guerrilla RF has an extensive portfolio of over 100 high-performance radio frequency (RF) and microwave semiconductor devices. The existing product line includes ultra-low noise amplifiers, gain blocks, driver amplifiers, mixers, RF switches, digital step attenuators (DSAs), and linear power amplifiers (PAs) – the critical building blocks for mission-critical, performance-driven wireless applications. To date, the Company has shipped over 100 million devices and has repeatedly been included in Inc. Magazine’s annual “Inc. 5000” list. Guerrilla RF recently made the top “Inc. 500” list for the second year in a row, coming in at No. 421 and 489 for the 2020 and 2021 rankings, respectively. For more information, please visit https://guerrilla-rf.com or follow the Company on Twitter and LinkedIn.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which statements are inherently subject to risks and uncertainties. Forward-looking statements include projections, predictions, expectations, or beliefs about future events or results or otherwise are not statements of historical fact. Such statements are often characterized by the use of qualifying words (and their derivatives) such as “expect," “believe," “estimate," “plan,” “project,” “anticipate,” or other statements concerning opinions or judgments of the Company and its management about future events. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the SEC, available at www.sec.gov. Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221213005108/en/

Sam Funchess, VP of Investor Relations

sfunchess@guerrilla-rf.com

+1 336 510 7840

Source: Guerrilla RF, Inc.

FAQ

What purchase order has Guerrilla RF secured?

Guerrilla RF has secured a purchase order for ultra-low noise amplifiers from a leading electric automobile manufacturer.

What is the revenue expected from Guerrilla RF's recent purchase order?

The expected revenue from the purchase order is approximately $580,000.

When will shipments start for Guerrilla RF's order?

Shipments for Guerrilla RF's order are expected to commence in March 2023 and continue through November 2023.

What applications are the ultra-low noise amplifiers designed for?

The amplifiers are designed for automotive satellite radio, multi-stage LNAs, signal boosters, and GPS applications.