Guerrilla RF guides FY2023 revenue >$15M (30% YoY), FY2024 $21-26M; targets operating breakeven Q2 2024

Guerrilla RF, Inc.

Q3 2023 revenue guidance $3.3-3.5M (upper end of prior $3.0-3.5M); FY2023 revenue expected >$15M (~30% YoY increase).
FY2024 revenue guided $21-26M (40% increase), driven by design wins generating >$7M annualized ongoing revenue.
New $4M loan facility with Salem Investment Partners; backlog grew 21.8% to $6.11M as of Sept 15, 2023.
Cost savings expected to reduce annualized expenses by $3-5M; targeting operating breakeven (ex-interest) by Q2 2024.
Gross profit margin expected to exceed 60% for full year 2023 as fixed costs are absorbed more efficiently.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Guerrilla RF, Inc. updated its full year 2023 guidance (reaffirmed).

Period: full year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

On September 27, 2023, Guerrilla RF, Inc. (the “Company”) issued a press release to provide a corporate update for guidance on full year 2023 and 2024 revenue, financing, and efforts to accelerate its path to profitability.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Guerrilla RF, Inc. updated its full year 2024 guidance (initiated).

Period: full year 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company anticipates revenue for full year 2024 to be between $21.0 and $26.0 million, (representing an increase of 40%) as previously announced design wins continue to ramp.

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Guerrilla RF, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-026826

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