Guerrilla RF Receives $2.4 Million Purchase Order from Leading Automotive Supplier

Rhea-AI Summary

Guerrilla RF, Inc. (OTCQX: GUER) announced a $2.4 million purchase order from a leading automotive supplier, signaling strong demand for its RF and microwave communications solutions in the autonomous vehicle sector. This order is linked to eight design wins disclosed in November 2022, expected to drive an annual peak volume of 30 million units. Chief Business Officer Kellie Chong highlighted the company's capability to meet evolving automotive demands, emphasizing accelerated time-to-market for clients. Guerrilla RF aims to list on a senior stock exchange in 2023, building on its rapid growth and extensive product offerings in various high-demand markets.

Positive

• Received a $2.4 million purchase order, indicating strong demand.
• Eight design wins expected to generate 30 million units annually.
• Demonstrates capability to meet automotive market specifications.

Negative

• None.

• Purchase order demonstrates growing demand for the Company’s key components that serve the autonomous and connected vehicle industry

GREENSBORO, N.C.--(BUSINESS WIRE)-- Guerrilla RF, Inc. (OTCQX: GUER), a leading provider of state-of-the-art radio frequency (RF) and microwave communications solutions, today announced that it received a $2.4 million purchase order from a leading automotive supplier. The purchase order amount is attributable to eight design wins that the company previously announced in November 2022 which is expected to generate an aggregate peak volume of 30 million units per year.

Guerrilla RF has received a $2.4 million purchase order from a leading automotive supplier. (Graphic: Business Wire)

Kellie Chong, Chief Business Officer of Guerrilla RF commented, “As the future of autonomous and connected vehicles evolves, I believe that Guerrilla RF’s extensive expertise in this market will allow us to drive improvements in performance to meet the rigorous requirements of our customers. This purchase order which was issued five months ahead of schedule is a testament to how quickly the automotive market is evolving, and demonstrates how Guerrilla RF is able to provide solutions that exceed their specifications, thus accelerating the time-to-market for our customers and automotive manufacturers.”

Guerrilla RF provides wireless semiconductors and custom solutions to multiple key markets ranging from automotive, wireless audio, satellite radio, wireless infrastructure, 5G/4G cellular repeaters, to military and navigation technologies. The Company continues to position itself to seek listing on a senior stock exchange during 2023.

About Guerrilla RF, Inc.

Founded in 2013, Guerrilla RF, develops and manufactures high-performance state-of-the-art radiofrequency (RF) and microwave communication solutions for wireless OEMs in multiple high-growth market segments, that include network infrastructure for 5G/4G macro and small cell base stations, cellular repeaters/DAS, automotive telematics, military communications, navigation, and high-fidelity wireless audio. The Company has an extensive portfolio of 100+ high-performance RF and microwave semiconductor devices with 50+ new products in development. As one of the fastest growing semiconductor firms in the industry, Guerrilla RF drives innovation through its R&D to commercialization initiatives and focuses on product excellence and custom solutions to underserved markets. To date, the Company has shipped over 150 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. 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 several 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/20230216005271/en/

Sam Funchess, VP of Investor Relations

sfunchess@guerrilla-rf.com

+1 336 510 7840

Source: Guerrilla RF, Inc.

FAQ

What is the significance of Guerrilla RF's $2.4 million purchase order?

The $2.4 million purchase order indicates strong demand for Guerrilla RF's products in the autonomous vehicle sector, linked to eight design wins.

When were the design wins for Guerrilla RF announced?

The design wins were announced in November 2022.

What is the expected annual unit volume from the new purchase order?

The purchase order is expected to generate an aggregate peak volume of 30 million units per year.

What markets does Guerrilla RF serve?

Guerrilla RF serves multiple markets including automotive, wireless audio, satellite radio, and 5G cellular infrastructure.

Is Guerrilla RF planning to list on a senior stock exchange?

Yes, Guerrilla RF plans to seek listing on a senior stock exchange during 2023.