News: Microelectronics
13 December 2023
Guerrilla RF reports record deliveries in November
Guerrilla RF Inc (GRF) of Greensboro, NC, USA — which develops and manufactures radio-frequency integrated circuits (RFICs) and monolithic microwave integrated circuits (MMICs) for wireless applications —says that its shipments in November were up by more than 25.3% compared with its previous largest month and up 259.7% year-on-year.
“Our operations team processed and shipped the largest single-month volume in history during the month of November, as we delivered on previously announced purchase orders,” says founder & CEO Ryan Pratt. “We are on track to deliver the highest revenue quarter in the company’s history and we are really proud of our sales and operations team,” he adds.
Guerrilla RF has reiterated its full-year 2023 revenue guidance of $14.7–15.2m, reflecting a minimum growth rate of 26.7% for the year. Also, it expects full-year 2024 revenue of $21–26m.
Guerrilla RF recently announced its first production purchase order (PO) and shipment to the satellite communications market (SATCOM) with a PO from a tier-1 SATCOM company. The initial PO was for $360,000, the majority of which is expected to be shipped by year-end. The firm expects SATCOM 2024 revenues to exceed $1m and the total market opportunity to exceed $560m.
Increasing sales and a continued focus on expense reduction is expected to enable Guerrilla RF to achieve operational cash flow breakeven by mid-2024 (excluding interest expense, and other non-operating and non-recurring expenses).
Guerrilla RF updates revenue guidance, targeting 30% growth in 2023 and 40% in 2024
