Guerrilla RF has hit another milestone – its largest purchase order in its almost 10-year history.
The Greensboro semiconductor company announced last week that it received a $2.4 million purchase order from a leading automotive supplier. Guerrilla RF (OTCQX: GUER) was unable to disclose the identity of the buyer.
“It's a big deal. In one day, we got an order worth close to our best booking quarter ever,” CEO and Founder Ryan Pratt told TBJ. “It’s the first of a big production ramp coming up.”
The purchase order is attributable to eight design wins that Guerrilla RF previously announced in November 2022 that are expected to generate an aggregate peak volume of 30 million units during the life of the program, which is expected to be a minimum of five years.
“As the future of autonomous and connected vehicles evolves, I believe that Guerrilla RF’s extensive expertise in this market will allow us to drive improvements in performance to meet the rigorous requirements of our customers,” said Kellie Chong, Guerrilla RF’s chief business officer.
“This purchase order, which was issued five months ahead of schedule, is a testament to how quickly the automotive market is evolving and demonstrates how Guerrilla RF is able to provide solutions that exceed their expectations, thus accelerating the time-to-market for our customers and automotive manufacturers.”
Since going public in October 2021, Guerrilla RF has been achieving milestone after milestone.
It reported record sales and revenue for most of 2022, including $3.1 million in total sales representing a 10.4% year-over-year increase in Q2 and $3.9 million in sales representing a 39% increase in Q1. Guerrilla RF also increased its revenue 24.6%, with $7 million in the first two quarters of 2022.
Guerrilla RF also reached – and surpassed – another important milestone: 150 million units deployed for RFIC/MMIC, an increase of 50% in lifetime shipments in just 15 months.
Guerrilla RF’s stock began trading on the Over-the-Counter (OTC) Market’s QX tier in July and is currently working to uplist to a senior exchange.
