Guerrilla RF’s Semiconductor Lead Times Return to Pre-COVID Levels

Rhea-AI Summary

Guerrilla RF, Inc. (OTCQX: GUER) announced that its average lead time for chip orders has returned to pre-COVID levels, at 10.5 weeks for Q3 2022, matching Q4 2019. This indicates a significant reduction of 45% from a peak of 19 weeks in Q2 2021. While the overall semiconductor industry is only starting to see slight decreases in cycle times, Guerrilla RF has consistently outperformed its peers in this area, demonstrating effective operational management during the pandemic.

Positive

• Average lead time for chip orders has returned to pre-COVID levels at 10.5 weeks.
• 45% reduction in lead time from peak levels of 19 weeks in Q2 2021.
• Outperformance compared to the industry average, which is only beginning to contract.

Negative

• None.

GRF Outpacing the Industry in its Race to a Return to Cycle Time “Normalcy”

GREENSBORO, N.C.--(BUSINESS WIRE)-- Guerrilla RF, Inc. (OTCQX: GUER) announced today its average lead time – the elapsed time between taking and fulfilling chip orders – has returned to pre-COVID levels. For the quarter ending in September of 2022, the company’s average cycle time for component fabrication, assembly and test came in at just over 10.5 weeks, matching its same average from Q4 of 2019.

Guerrilla RF’s semiconductor lead times have returned to pre-COVID levels. Company is outpacing the industry in its race to a return to cycle time “normalcy”. (Graphic: Business Wire)

After reaching peak levels of 19 weeks in Q2 of 2021, Guerrilla RF has consistently outpaced the industry average in its race to achieve lead time “normalcy”. While most other semiconductor firms witnessed quarter-on-quarter increases in cycle time, GRF was able to consistently trim its fabrication, assembly and test times over a relatively short span of just five quarters. The dramatic drop to 10.5 weeks represents a net lead time reduction of 45% from the peak experienced in 2021. In contrast, lead times for the industry as a whole are just now starting to contract with a modest reduction of only 1.1% from the peak of 27 weeks reached in Q2 of 2022.

“I am extremely proud of the effort put forth by our Operations team during the entire pandemic,” says Ryan Pratt, CEO and founder of Guerrilla RF. “Their diligent work kept our customers’ lines up and running throughout the height of the supply chain crunch, and they’ve been tirelessly working with our fab, assembly and test partners to reduce our cycle times to levels that are on now on par with our pre-COVID state of operations. This feat is even more impressive given that the industry is only now starting to see slight reductions in average lead times after reaching its all-time peak just two quarters ago.”

About Guerrilla RF, Inc.

Founded in 2013 and based in Greensboro, NC, Guerrilla RF develops and manufactures high-performance monolithic microwave integrated circuits (MMICs) to 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, and linear PAs (power amplifiers) – the critical building blocks for mission-critical, performance-driven wireless applications. 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, 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/20221107005476/en/

Jim Ahne, VP - Automotive & 5G Products / Corporate Marketing

jahne@guerrilla-rf.com

+1 336 265 7760

Source: Guerrilla RF, Inc.

FAQ

What is the current average lead time for Guerrilla RF (GUER)?

The average lead time for Guerrilla RF (GUER) has returned to 10.5 weeks.

How much has Guerrilla RF (GUER) reduced its lead time?

Guerrilla RF (GUER) has achieved a 45% reduction in lead time from a peak of 19 weeks.

How does Guerrilla RF's lead time compare to the industry average?

Guerrilla RF (GUER) has consistently outpaced the semiconductor industry, which is only now starting to see slight reductions in lead times.

When did Guerrilla RF (GUER) achieve its current average lead time?

Guerrilla RF (GUER) achieved its current average lead time of 10.5 weeks in Q3 2022.