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Guerrilla RF Reports Fourth Quarter and Full Year 2024 Results

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Guerrilla RF (OTCQX: GUER) reported its Q4 and full-year 2024 financial results, marking significant growth in several areas. Revenue for fiscal year 2024 increased 33.4% compared to 2023, reaching $20.1 million. Gross profit jumped 49.8% to $12.8 million, with margins expanding 660 basis points to 63.7%.

Q4 2024 revenue showed a slight decrease to $4.4 million from $4.7 million year-over-year, primarily due to a 42% drop in Automotive sales. However, Infrastructure grew 10% and Catalog markets expanded 62%, driven by increases in SatCom and wireless audio.

The company's operating loss improved to $8.8 million in 2024 from $12.9 million in 2023. Product contribution margins rose from 70.5% to 74.8%. International shipments reached $4.0 million, representing 20% of total product revenue. The company's backlog stood at $5.4 million at year-end 2024, increasing to $6.8 million by March 14, 2025.

Guerrilla RF (OTCQX: GUER) ha riportato i risultati finanziari del Q4 e dell'intero anno fiscale 2024, segnando una crescita significativa in diverse aree. I ricavi per l'anno fiscale 2024 sono aumentati del 33,4% rispetto al 2023, raggiungendo i 20,1 milioni di dollari. Il profitto lordo è aumentato del 49,8% a 12,8 milioni di dollari, con margini in espansione di 660 punti base al 63,7%.

I ricavi del Q4 2024 hanno mostrato una leggera diminuzione a 4,4 milioni di dollari rispetto ai 4,7 milioni dell'anno precedente, principalmente a causa di un calo del 42% nelle vendite automobilistiche. Tuttavia, l'area delle infrastrutture è cresciuta del 10% e i mercati del catalogo sono aumentati del 62%, trainati da un incremento nel settore SatCom e audio wireless.

La perdita operativa dell'azienda è migliorata a 8,8 milioni di dollari nel 2024 rispetto ai 12,9 milioni del 2023. I margini di contribuzione del prodotto sono aumentati dal 70,5% al 74,8%. Le spedizioni internazionali hanno raggiunto i 4,0 milioni di dollari, rappresentando il 20% dei ricavi totali del prodotto. Il portafoglio dell'azienda si è attestato a 5,4 milioni di dollari alla fine del 2024, aumentando a 6,8 milioni di dollari entro il 14 marzo 2025.

Guerrilla RF (OTCQX: GUER) informó sus resultados financieros del cuarto trimestre y del año fiscal 2024, marcando un crecimiento significativo en varias áreas. Los ingresos del año fiscal 2024 aumentaron un 33,4% en comparación con 2023, alcanzando los 20,1 millones de dólares. El beneficio bruto saltó un 49,8% a 12,8 millones de dólares, con márgenes que se expandieron 660 puntos básicos al 63,7%.

Los ingresos del cuarto trimestre de 2024 mostraron una ligera disminución a 4,4 millones de dólares desde 4,7 millones del año anterior, principalmente debido a una caída del 42% en las ventas de automóviles. Sin embargo, la infraestructura creció un 10% y los mercados de catálogo se expandieron un 62%, impulsados por aumentos en SatCom y audio inalámbrico.

La pérdida operativa de la empresa mejoró a 8,8 millones de dólares en 2024 desde 12,9 millones en 2023. Los márgenes de contribución del producto aumentaron del 70,5% al 74,8%. Los envíos internacionales alcanzaron los 4,0 millones de dólares, representando el 20% de los ingresos totales del producto. La cartera de la empresa se situó en 5,4 millones de dólares a finales de 2024, aumentando a 6,8 millones de dólares para el 14 de marzo de 2025.

Guerrilla RF (OTCQX: GUER)는 2024 회계연도 4분기 및 전체 연도 재무 결과를 발표하며 여러 분야에서의 상당한 성장을 나타냈습니다. 2024 회계연도 수익은 2023년에 비해 33.4% 증가했습니다, 2010만 달러에 도달했습니다. 총 이익은 49.8% 증가하여 1280만 달러에 이르렀고, 마진은 660 베이시스 포인트 증가하여 63.7%에 도달했습니다.

2024년 4분기 수익은 전년 대비 470만 달러에서 440만 달러로 약간 감소했으며, 이는 주로 자동차 판매의 42% 감소 때문입니다. 그러나 인프라는 10% 성장했고 카탈로그 시장은 SatCom 및 무선 오디오의 증가에 힘입어 62% 확장되었습니다.

회사의 운영 손실은 개선되었습니다, 2024년에는 890만 달러로 2023년의 1290만 달러에서 줄어들었습니다. 제품 기여 마진은 70.5%에서 74.8%로 증가했습니다. 국제 배송은 400만 달러에 도달하여 전체 제품 수익의 20%를 차지했습니다. 회사의 미결 주문은 2024년 말에 540만 달러였으며, 2025년 3월 14일까지 680만 달러로 증가했습니다.

Guerrilla RF (OTCQX: GUER) a publié ses résultats financiers pour le quatrième trimestre et l'ensemble de l'année fiscale 2024, marquant une croissance significative dans plusieurs domaines. Les revenus pour l'année fiscale 2024 ont augmenté de 33,4% par rapport à 2023, atteignant 20,1 millions de dollars. Le bénéfice brut a bondi de 49,8% à 12,8 millions de dollars, avec des marges s'élargissant de 660 points de base à 63,7%.

Les revenus du quatrième trimestre 2024 ont montré une légère baisse à 4,4 millions de dollars contre 4,7 millions de dollars l'année précédente, principalement en raison d'une baisse de 42% des ventes automobiles. Cependant, l'infrastructure a augmenté de 10% et les marchés de catalogue se sont étendus de 62%, soutenus par des augmentations dans le secteur SatCom et audio sans fil.

La perte d'exploitation de l'entreprise s'est améliorée à 8,8 millions de dollars en 2024 contre 12,9 millions de dollars en 2023. Les marges de contribution des produits sont passées de 70,5% à 74,8%. Les expéditions internationales ont atteint 4,0 millions de dollars, représentant 20% des revenus totaux des produits. Le carnet de commandes de l'entreprise s'élevait à 5,4 millions de dollars à la fin de 2024, augmentant à 6,8 millions de dollars d'ici le 14 mars 2025.

Guerrilla RF (OTCQX: GUER) hat seine Finanzzahlen für das 4. Quartal und das gesamte Geschäftsjahr 2024 veröffentlicht, was ein signifikantes Wachstum in mehreren Bereichen zeigt. Der Umsatz im Geschäftsjahr 2024 stieg um 33,4% im Vergleich zu 2023 und erreichte 20,1 Millionen Dollar. Der Bruttogewinn sprang um 49,8% auf 12,8 Millionen Dollar, wobei sich die Margen um 660 Basispunkte auf 63,7% erweiterten.

Der Umsatz im 4. Quartal 2024 zeigte einen leichten Rückgang auf 4,4 Millionen Dollar von 4,7 Millionen Dollar im Vorjahr, hauptsächlich aufgrund eines Rückgangs der Automobilverkäufe um 42%. Die Infrastruktur wuchs jedoch um 10% und die Katalogmärkte expandierten um 62%, angetrieben durch Zuwächse im Bereich SatCom und drahtloser Audioübertragung.

Der Betriebsverlust des Unternehmens verbesserte sich auf 8,8 Millionen Dollar im Jahr 2024 von 12,9 Millionen Dollar im Jahr 2023. Die Produktbeitragsmargen stiegen von 70,5% auf 74,8%. Die internationalen Lieferungen erreichten 4,0 Millionen Dollar, was 20% des gesamten Produktumsatzes entspricht. Der Auftragsbestand des Unternehmens betrug zum Ende des Jahres 2024 5,4 Millionen Dollar und stieg bis zum 14. März 2025 auf 6,8 Millionen Dollar.

Positive
  • Revenue growth of 33.4% year-over-year
  • Gross profit increased 49.8% to $12.8 million
  • Gross margin expanded 660 basis points to 63.7%
  • Product contribution margins improved from 70.5% to 74.8%
  • Operating loss reduced by $4.1 million
  • International shipments increased to 20% of total revenue
  • Backlog grew to $6.8 million by March 2025
Negative
  • Q4 2024 revenue declined to $4.4 million from $4.7 million year-over-year
  • 42% drop in Automotive sales in Q4 2024
  • Operating loss of $8.8 million for 2024
  • $1.5 million loss on extinguishment of debt
  • Net loss per share of $1.12 in 2024

2024 Revenue grew 33.4% due to strength in our primary markets

Gross profit increased 49.8% to $12.8 million

Gross Profit Expanded 660 basis points to 63.7%

GREENSBORO, N.C.--(BUSINESS WIRE)-- Guerrilla RF, Inc. (OTCQX: GUER), a leading provider of state-of-the-art radio frequency (RF) and microwave semiconductors, today announced fourth quarter and full year 2024 financial results.

Guerrilla RF, Inc. (OTCQX: GUER), a leading provider of state-of-the-art radio frequency (RF) and microwave semiconductors, announced today that 2024 revenue grew by <percent>33.4%</percent> due to strength in its primary markets.

Guerrilla RF, Inc. (OTCQX: GUER), a leading provider of state-of-the-art radio frequency (RF) and microwave semiconductors, announced today that 2024 revenue grew by 33.4% due to strength in its primary markets.

Fourth quarter 2024 revenue decreased slightly over the same period in 2023, coming in at $4.4 million compared to $4.7 million for the year ago quarter. Weakness in the quarter came from a 42% drop in Automotive sales, while Infrastructure grew 10% and our Catalog markets expanded 62% due in part from increases in SatCom and wireless audio.

Revenue for fiscal year 2024 increased 33.4% as compared to fiscal year 2023. Revenue gains came from the acquisition of new customers, the release and introduction of new products and through gain of market share in each of our markets. Catalog, wireless audio and SatCom revenue increased for the full year. Our automotive products drove revenue increases and experienced significant order volume increases during the first three quarters of 2024 from our OEM customers. These customers included a new direct EV automotive customer, as well as growth from customers who are major electronics suppliers to automotive OEM component suppliers.

Gross profit for fiscal year 2024 was 63.7% of revenue as compared to 57.1% for fiscal year 2023. Although the Company has continued to experience supply chain price increases, we have been able to mitigate the effect of these increases by increasing the prices we charge our customers. Product contribution margins rose from 70.5% in 2023 to 74.8% in 2024. Product contribution margins were partially offset by higher overhead costs, on a comparative period basis, which increased due to headcount additions in our Quality group, as well as increased facility costs.

Operating loss was $8.8 million for 2024 as compared to $12.9 million for 2023. This decrease in operating loss was due to higher revenue, while our operating expenses remained relatively flat, with expenses in our engineering and research and development areas decreasing $0.6 million or 6% year over year. Sales and marketing expenses increased, rising $0.6 million to $6.3 million or 10% over the prior year period. Administration costs experienced a small increase of $49 thousand or 1% over the prior year period.

Fourth Quarter and Full Year 2024 Financial Result Highlights

  • The Company reported $20.1 million in revenue for FY24 achieving the lower end of management’s revised full year 2024 guidance of between $20.0 and $25.0 million.
  • Contribution margin of 74.8% for FY24, compared favorably to 70.5% for FY23, indicating price stability as revenue grows.
  • Gross profit increased 49.8% to $12.8 million for the FY24 compared to $8.6 million for FY23.
  • Gross profit increased for fiscal year 2024 to 63.7% of revenue as compared to 57.1% for fiscal year 2023. Full year operating expenses increased $0.1 million to $21.6 for FY24 compared to $21.5 million for FY23, while revenue expanded over 33.4 percent, reflecting the continued impact of previously announced expense management efforts.
  • Operating loss was $8.8 million for 2024 as compared to $12.9 million for 2023.
  • Research and development expenses decreased $0.6 million to $9.7 million for the year ended December 31, 2024, compared to $10.3 million for the year ended December 31, 2023.
  • We continue to invest in Sales and Marketing, which increased $0.6 million to $9.7 million for 2024.
  • Backlog (a non-GAAP measure) remained steady quarter-over-quarter, ending 2024 at $5.4 million. Subsequent to year end, backlog increased to $6.8 million by March 14, 2025.
  • During the year ended December 31, 2024, we recognized a loss of $1.5 million on extinguishment of debt a change in fair value related to warrant liabilities gain of $2.2 million.
  • Net loss per share was $1.12 and $2.25 for fiscal year 2024 and 2023, respectively.
  • International shipments amounted to $4.0 million (approximately 20% of total product revenue) and $2.3 million (approximately 16% of total product revenue) for the years ended December 31, 2024, and December 31, 2023, respectively.

Key Metrics (Non-GAAP Measures)

We regularly review the following key metrics to measure our performance, identify trends affecting our business, formulate financial projections, make strategic business decisions, and assess working capital needs.

 

 

Year Ended December 31,

 

 

 

 

2024

 

 

2023

 

Key Metrics

 

 

 

 

 

 

 

 

 

Number of products released

 

 

 

32

 

 

 

12

Number of total products

 

 

 

163

 

 

 

131

 

Number of products with lifetime revenue exceeding $100 thousand

 

 

 

73

 

 

62

 

Product backlog (in millions)

 

 

$

5.44

 

$

5.96

 

Financial Tables

The following table compares condensed elements of the Company’s summarized Consolidated Balance Sheets as of December 31, 2024, and 2023, the Consolidated Statements of Operations for the three-month periods and years ended December 31, 2024, and 2023 respectively.

Guerrilla RF, Inc.

Consolidated Balance Sheets

December 31, 2024 and 2023

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Cash

 

$

7,974,650

 

 

$

781,318

 

Accounts receivable, net

 

 

2,232,696

 

 

 

2,079,111

 

Inventories, net

 

 

1,838,370

 

 

 

1,533,592

 

Prepaid expenses

 

 

450,293

 

 

 

458,313

 

Total Current Assets

 

 

12,496,009

 

 

 

4,852,334

 

 

 

 

 

 

 

 

 

 

Prepaid expenses and other

 

 

123,185

 

 

 

-

 

Intangible assets, net

 

 

346,547

 

 

 

-

 

Operating lease right-of-use assets

 

 

9,465,427

 

 

 

10,500,620

 

Property, plant, and equipment, net

 

 

2,493,355

 

 

 

3,659,084

 

Total Assets

 

$

24,924,523

 

 

$

19,012,038

 

 

 

 

 

 

 

 

 

 

Liabilities, Redeemable Preferred Stock and Stockholders' Deficit

 

 

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

2,040,862

 

 

$

2,099,537

 

Short-term debt

 

 

828,492

 

 

 

1,628,667

 

Derivative liabilities

 

 

-

 

 

 

158,000

 

Warrant liabilities

 

 

1,495,516

 

 

 

-

 

Operating lease liability, current portion

 

 

669,001

 

 

 

745,969

 

Finance lease liability, current portion

 

 

667,718

 

 

 

978,543

 

Convertible notes

-

78,905

 

Convertible notes - related parties

-

700,189

 

Notes payable, current portion, net

 

 

500,000

 

 

 

10,948,668

 

Total Current Liabilities

 

 

6,201,589

 

 

 

17,338,478

 

 

 

 

 

 

 

 

 

Long-term debt

 

 

440,879

 

 

 

698,600

 

Operating lease liability

 

 

5,636,793

 

 

 

6,176,508

 

Finance lease liability

 

 

828,171

 

 

 

1,593,979

 

Notes payable

 

 

4,000,000

 

 

 

-

 

Total Liabilities

 

 

17,107,432

 

 

 

25,807,565

 

 

 

 

 

 

 

 

 

 

 

Commitments and Contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Series A convertible preferred stock, $0.0001 par value, 22,000 shares authorized, 22,000 and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively

 

 

20,033,555

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Stockholders' Deficit

 

 

 

 

 

 

 

 

Undesignated preferred stock, $0.0001 par value, 9,978,000 shares authorized, no shares issued and outstanding as of December 31, 2024 and 2023

 

 

-

 

 

 

-

 

Common stock, $0.0001 par value, 50,000,000 shares authorized, 10,240,478 and 7,893,205 shares issued and outstanding as of December 31, 2024 and 2023, respectively

 

 

1,024

 

 

 

789

 

Additional paid-in capital

 

 

41,575,012

 

 

 

36,243,146

 

Accumulated deficit

 

 

(53,792,500

)

 

 

(43,039,462

)

Total Stockholders' Deficit

 

 

(12,216,464

)

 

 

(6,795,527

)

Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit

 

$

24,924,523

 

 

$

19,012,038

 

Guerrilla RF, Inc.

Consolidated Statements of Operations

For the Quarters Ended December 31, 2024 and 2023

Three Months Ended December 31,

2024

 

 

2023

 

 

Product revenue

$

4,390,398

 

$

4,691,474

 

Royalties and non-recurring engineering

 

-

 

 

10,709

 

Total

 

4,390,398

 

 

4,702,183

 

 

Direct product cost

 

1,740,054

 

 

2,029,472

 

 

Gross Profit

 

2,650,344

 

 

2,672,711

 

 

Operating Expenses:

Research and development

 

2,536,500

 

 

2,268,047

 

Sales and marketing

 

1,565,472

 

 

1,239,458

 

General and administrative

 

1,666,436

 

 

1,265,030

 

Total Operating Expenses

 

5,768,408

 

 

4,772,535

 

 

Operating Loss

 

(3,118,064

)

 

(2,099,824

)

 

Interest income

 

99,861

 

 

-

 

Interest expense

 

(225,233

)

 

(1,441,967

)

Loss on debt extinguishment

 

-

 

 

-

 

 

Change in fair of derivative liabilities

 

-

 

 

(94,800

)

Change in fair of warrant liabilities

 

4,821,659

 

 

-

 

 

Other income (expense)

 

(552

)

 

(26,255

)

Total other income (expenses), net

 

4,695,735

 

 

(1,563,022

)

Net Income (Loss)

$

1,577,671

 

$

(3,662,846

)

 

Guerrilla RF, Inc.

Consolidated Statements of Operations

For the Years Ended December 31, 2024 and 2023

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Product

 

$

20,113,523

 

 

$

14,683,492

 

Royalties and non-recurring engineering

 

 

2,377

 

 

 

394,824

 

Total Revenue

 

 

20,115,900

 

 

 

15,078,316

 

 

 

 

 

 

 

 

 

 

Direct product costs

 

 

7,302,192

 

 

 

6,473,477

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

12,813,708

 

 

 

8,604,839

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

Research and development

 

 

9,707,128

 

 

 

10,282,635

 

Sales and marketing

 

 

6,251,254

 

 

 

5,677,141

 

General and administrative

 

 

5,618,389

 

 

 

5,569,654

 

Total Operating Expenses

 

 

21,576,771

 

 

 

21,529,430

 

 

 

 

 

 

 

 

 

 

Operating Loss

 

 

(8,763,063

)

 

 

(12,924,591

)

 

 

 

 

 

 

 

 

 

Interest income

 

 

163,735

 

 

 

-

 

Interest expense

 

 

(3,267,653

)

 

 

(2,904,454

)

Loss on debt extinguishment

 

 

(1,523,221

)

 

 

-

 

Change in fair value of derivative liabilities

 

 

158,000

 

 

 

(142,200

)

Change in fair value of warrant liabilities

 

 

2,198,051

 

 

 

-

 

Other income

 

 

281,113

 

 

 

4,951

 

Total Other Expenses, net

 

 

(1,989,975

)

 

 

(3,041,703

)

Net Loss

 

$

(10,753,038

)

 

$

(15,966,294

)

Guerrilla RF, Inc.

Consolidated Statements of Cash Flows

For the Years Ended December 31, 2024 and 2023

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Cash flows from operating activities

 

 

 

 

 

 

 

 

Net loss

 

$

(10,753,038

)

 

$

(15,966,294

)

 

 

 

 

 

 

 

 

 

Adjustment to reconcile net loss to net cash used in operating activities

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

1,513,798

 

 

 

1,592,567

 

Share-based compensation

 

 

1,693,814

 

 

 

1,279,536

 

Non-cash interest expense related to debt financing

 

 

413,727

 

 

 

407,710

 

Accretion of notes payables

 

 

1,250,499

 

 

 

1,130,731

 

Impairment on property plant and equipment and operating lease

 

 

-

 

 

 

115,438

 

Loss on extinguishment of debt

 

 

1,523,221

 

 

 

-

 

Change in fair value of derivative liabilities

 

 

(158,000

)

 

 

142,200

 

Change in fair value of warrant liabilities

 

 

(2,198,051

)

 

 

-

 

Inventory allowance

 

 

214,913

 

 

 

9,661

 

 

 

 

 

 

 

 

 

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(153,585

)

 

 

(954,140

)

Inventories

 

 

(519,691

)

 

 

129,672

 

Prepaid expenses

 

 

134,442

 

 

 

1,125,369

 

Accounts payable and accrued expenses

 

 

(34,343

)

 

 

(2,366,260

)

Operating lease liability

 

 

418,510

 

 

 

(101,180

)

Net cash used in operating activities

 

 

(6,653,784

)

 

 

(13,454,990

)

 

 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

 

 

Purchases of property, plant, and equipment

 

 

(380,880

)

 

 

(101,714

)

Purchase of intangible assets

 

 

(371,300

)

 

 

-

 

Net cash used in investing activities

 

 

(752,180

)

 

 

(101,714

)

 

 

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

 

 

Proceeds from stock options exercised

 

 

6,000

 

 

 

-

 

Proceeds from notes payable, derivative liabilities and factoring agreement

 

 

13,206,729

 

 

 

16,759,886

 

Principal payments of notes payable and recourse factoring agreement

 

 

(21,474,031

)

 

 

(10,590,115

)

Proceeds from equity financing, net

 

 

24,616,598

 

 

 

5,440,658

 

Principal payments on finance lease

 

 

(979,170

)

 

 

(1,043,149

)

Repayments of finance insurance premiums

 

 

(746,830

)

 

 

(569,665

)

Payment of deferred offering costs

 

 

(30,000

)

 

 

-

 

Net cash provided by financing activities

 

 

14,599,296

 

 

 

9,997,615

 

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash

 

 

7,193,332

 

 

 

(3,559,089

)

 

 

 

 

 

 

 

 

 

Cash, beginning of period

 

 

781,318

 

 

 

4,340,407

 

Cash, end of period

 

$

7,974,650

 

 

$

781,318

 

About Guerrilla RF, Inc.

Founded in 2013, Guerrilla RF, Inc., develops and manufactures high-performance, state-of-the-art radio frequency (RF) and microwave semiconductors for wireless OEMs in multiple high-growth market segments, including network infrastructure for 5G/4G macro and small cell base stations, SATCOM, 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. The Company has shipped over 200 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.

Sam Funchess, VP of Corporate Development

ir@guerrilla-rf.com

+1 336 510 7840

Source: Guerrilla RF, Inc.

FAQ

What was Guerrilla RF's (GUER) revenue growth in 2024?

Guerrilla RF's revenue grew 33.4% in fiscal year 2024, reaching $20.1 million.

How did GUER's gross profit margin change in 2024?

Gross profit margin expanded 660 basis points to 63.7% in 2024, up from 57.1% in 2023.

What caused the Q4 2024 revenue decline for GUER?

Q4 2024 revenue declined due to a 42% drop in Automotive sales, though Infrastructure grew 10% and Catalog markets expanded 62%.

How much did GUER's operating loss improve in 2024?

Operating loss improved to $8.8 million in 2024 from $12.9 million in 2023.

What is GUER's current backlog status as of March 2025?

GUER's backlog increased from $5.4 million at 2024 year-end to $6.8 million by March 14, 2025.
Guerrilla RF Inc

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15.43M
5.26M
44.05%
4.22%
Semiconductors
Technology
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United States
Greensboro