GUERRILLA RF INC - GUER STOCK NEWS

Guerrilla RF (OTCQX: GUER) reported record revenues of $5.1 million for Q1 2024, a 59.4% increase from Q1 2023. Gross margin expanded by 640 basis points sequentially. The company also reduced its operating loss to $1.8 million and net cash used in operating activities to $0.8 million, aided by sales growth and expense management. Revenue guidance for 2024 remains at $21.0-$26.0 million. Notable developments include a $5.0 million private placement and the acquisition of GaN product portfolio and IP from Gallium Semiconductor. Backlog increased to $8.3 million, and the cash balance stood at $3.6 million as of March 31, 2024.

Guerrilla RF has completed the acquisition of Gallium Semiconductor's GaN device portfolio, expanding its market reach into telecom infrastructure, military, and satellite communications. The RF GaN device market is expected to double to $2.7B by 2028, with GaN on SiC technology leading the way. The acquisition aims to boost revenue and margins, with full integration of new products expected by June 2024.

Guerrilla RF, Inc. completes private placement equity financing and debt conversion, raising $5.0 million. The company also extends the maturity of a $12 million debt facility to January 2026. The private placement involved selling 2.0 million shares of common stock and warrants, resulting in net proceeds of approximately $2.9 million after expenses and debt reduction. Guerrilla RF aims to achieve EBITDA break-even and support its growth initiatives with the raised capital.

Guerrilla RF, Inc. (GUER) reports a significant increase in fourth-quarter revenue by 93.6% and a 30.2% growth in full-year revenue for 2023. The company anticipates revenue between $21.0 and $26.0 million with gross profit between $12.8 and $15.9 million for 2024. Management aims to achieve EBITDA break-even in the second quarter of 2024. The company secured its first production purchase order (PO) and shipment to the SATCOM market from a tier 1 SATCOM company.

Guerrilla RF, Inc. (GUER) has announced the release of four new automotive-qualified devices, including two ¼ W linear PAs and two LNAs, designed for cellular compensators used to amplify and enhance cellular signals within vehicles. These devices have been qualified to meet rigorous AEC-Q100 quality standards and are ideal for 4G/5G cellular applications requiring exceptional native linearity over temperature extremes. The company has also extended its reach into the growing market for 5G cellular compensators associated with automotive shark fin antennas.

Guerrilla RF, Inc. (GUER) announced a 95.8% year-over-year increase in Q4 2023 revenue, totaling $4.7 million, and a 30.2% growth in annual revenue to $15.1 million. The company reported a 70.5% contribution margin for FY23 and a gross profit margin of 56.8% for Q4 2023. Operating expenses decreased by 14.4% from Q3 2023, leading to a 43.2% decrease in operating loss for Q4 2023. New product revenue reached 22.1% of total product revenue in 2023 compared to less than 1.0% in 2022, and the company expects FY24 revenue to be between $21.0 and $26.0 million.

Guerrilla RF, Inc. (GUER) announces a $1.0 million initial purchase order for a new wireless infrastructure design win, with an estimated $3.5 million opportunity for 2024. The company also reports a 259.7% increase in November 2023 shipments compared to the same period in 2022, with full year 2023 revenue guidance of $14.7-15.2 million and expectations for full year 2024 revenue to be between $21.0 and $26.0 million.

Guerrilla RF, Inc. (OTCQX: GUER) announced a significant increase in shipments, with over 25.3% more shipments in November 2023 compared to its previous largest month and 259.7% over November 2022. The company is on track to deliver the highest revenue quarter in its history, with a reiterated full-year 2023 revenue guidance of $14.7 to $15.2 million, reflecting a minimum growth rate of 26.7% for the year. Management expects full-year 2024 revenue to be between $21.0 and $26.0 million. The company also successfully completed an ISO 9001 audit, renewing its certification.

Guerrilla RF, Inc. (OTCQX: GUER) announces the formal production release of the GRF2110, an ultra-low noise amplifier that delivers an exceptionally flat gain response over a single 5 to 8 GHz broadband tune. The device delivers 16.3 dB of gain, 22 dBm of OP1dB compression, 38 dBm of OIP3 linearity, and a low noise figure of 1.2 dB. The GRF2110 is suitable for satellite communications, aeronautical telemetry, radar, industrial scientific medical (ISM), WiFi 6E, and 5G cellular infrastructure applications. The modular approach of the GRF2110 provides customers with a multitude of options for addressing different frequency, gain, noise figure, compression, and linearity requirements.