Guerrilla RF Reports Record Revenue for Full Year 2022
Guerrilla RF, Inc. (OTCQX: GUER), a leading provider of state-of-the-art RF and microwave communications solutions, today announced financial results for the fourth quarter and full year ended December 31, 2022.
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Guerrilla RF reports record revenue for 2022. (Graphic: Business Wire)
Full Year 2022 Financial Results
Full Year 2022 Company Highlights
Based on the information available as of today, Guerrilla RF is offering the following guidance:
"Guerrilla RF became a publicly traded company in 2022, less than ten years after its founding," said Ryan Pratt, founder and CEO. "It was a year of record revenues, strong gross margins, and increased ASPs. We closed out the year strong as we saw cycle times return to pre-COVID levels, and book-to-bill improve to greater than 1 in Q4, 2022. We won numerous design awards, expanded our product portfolio and customer base, and invested to drive future revenue growth."
The following table compares condensed elements of the Company's summarized Consolidated Statements of Operations and Consolidated Balance Sheets data for the three-month periods and years ended December 31, 2022, and 2021, respectively. Readers should refer to our annual report on Form 10-K for the year ended December 31, 2022, for additional information as well as disclosure of important risk factors:
About Guerrilla RF, Inc.
Founded in 2013, Guerrilla RF, Inc., develops and manufactures high-performance state-of-the-art radiofrequency (RF) and microwave communication solutions for wireless OEMs in multiple high-growth market segments, which include network infrastructure for 5G/4G macro and small cell base stations, cellular repeaters/DAS, automotive telematics, military communications, navigation, and high-fidelity wireless audio. The Company has an extensive portfolio of 100+ high-performance RF and microwave semiconductor devices with 50+ new products in development. As one of the fastest growing semiconductor firms in the industry, Guerrilla RF drives innovation through its R&D to commercialization initiatives and focuses on product excellence and custom solutions to underserved markets. 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. For more information, please visit https://guerrilla-rf.com or follow the Company on Twitter and LinkedIn.
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 several 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.
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