Q1 record revenue $5.1M (+59% YoY); GM 63.2% (+640bps Q/Q); $5M placement closed; guides $21-26M

Guerrilla RF, Inc.

Revenue $5.1M, +59.4% YoY, +8.5% Q/Q; operating loss narrowed to $1.8M from $3.7M.
Gross margin 63.2%, up 640bps from Q4 2023; net loss $3.37M vs $4.0M YoY.
Completed $5M private placement with ~$3M net; acquired GaN portfolio from Gallium Semiconductor.
Backlog $8.3M (+27.7% from Q1 2023); cash $3.6M vs $0.8M at Dec 2023.
Guidance reaffirmed: FY 2024 revenue $21-26M; credit facility extended to 2026.

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. reported first quarter ended March 31, 2024 results: revenue $5.1 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $5.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Guerrilla RF Reports Record First Quarter 2024 Results and Gross Margin Expansion ● Record revenue quarter of $5.1 million

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Guerrilla RF, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-016787

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