Guerrilla RF, Inc. (GUER)
Operating as a fabless semiconductor enterprise, Guerrilla RF, Inc. develops and supplies radio frequency (RF) solutions, specifically targeting customers within specialized or overlooked market segments. The company oversees the entire lifecycle of its monolithic microwave integrated circuits (MMICs), from their initial design and outsourced manufacturing to their practical application and final sale. These MMICs are predominantly utilized across the wireless infrastructure, automotive, and catalog industries. Its comprehensive product line includes vital components such as low noise amplifiers, gain blocks, linear drivers, various linear and saturated power amplifiers, failsafe devices, RF power detectors, switches, and mixers. The firm was established in 2013 and is based in Greensboro, North Carolina.
Sector: Semiconductors & Related Devices
Industry: Semiconductors
Guerrilla RF, Inc.
OTC:GUERTechnology · Semiconductors
-1.73%$3.98
Mkt Cap$42.58M
Float5.37M
O/S10.7M
Inst Own0.2%
SI0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$22.73M
Net Income-$6.99M
Total Assets$19.5M
Free Cash Flow-$2.77M
Debt & Equity
Total Debt$12.26M
Total Equity-$18.18M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:6Reverse splitApr 17, 20236 shares → 1
Balance Sheet Details
Assets$19.5M
Liabilities$37.69M
Accounts Receivable$1.81M
Accounts Payable$0
Inventory$1.64M
PP&E (Net)$11.07M
Goodwill$0
Intangible Assets$309K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $22.73M | $20.12M | $15.08M | $11.6M | $10.48M | $8.09M | $7.03M |
| YoY Growth | 13.0% | 33.4% | 30.0% | 10.7% | 29.6% | 15.1% | - |
| Cost of Revenue | $7.88M | $7.3M | $6.47M | $4.84M | $4.34M | $2.91M | $2.39M |
| Gross Profit | $14.85M | $12.81M | $8.6M | $6.77M | $6.14M | $5.18M | $4.63M |
| Gross Margin | 65.3% | 63.7% | 57.1% | 58.3% | 58.6% | 64.0% | 65.9% |
| Research and Development | $8.55M | $9.71M | $10.28M | $8.11M | $4.59M | $3.59M | $1.83M |
| Selling, General, and Administrative | $10.96M | $11.87M | $11.25M | $9.77M | $5.22M | $3.13M | $2.56M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $19.51M | $21.58M | $21.53M | $17.89M | $9.81M | $6.72M | $4.39M |
| Operating Income (EBIT) | -$4.66M | -$8.76M | -$12.92M | -$11.12M | -$3.67M | -$1.54M | $243K |
| Operating Margin | -20.5% | -43.6% | -85.7% | -95.9% | -35.0% | -19.1% | 3.5% |
| Interest Expense | $986K | $3.27M | $2.9M | $875K | $551K | $470K | $465K |
| Interest Income | $186K | $164K | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$2.31M | -$1.99M | -$3.04M | -$905K | $833K | -$470K | -$465K |
| Income Before Tax (EBT) | -$6.97M | -$10.75M | -$15.97M | -$12.03M | -$2.84M | -$2.01M | -$223K |
| Income Tax Expense | $12K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$6.99M | -$10.75M | -$15.97M | -$12.03M | -$2.84M | -$2.48M | -$223K |
| Net Income Margin | -30.7% | -53.5% | -105.9% | -103.7% | -27.1% | -30.7% | -3.2% |
| Supplementary Data | |||||||
| EPS | -0.67 | -1.12 | -2.25 | -2.33 | -0.85 | -0.44 | -0.04 |
| Diluted EPS | -0.67 | -1.12 | -2.25 | -2.33 | -0.85 | -0.44 | -0.04 |
| Weighted Average OS | 10.45M | 9.60M | 7.11M | 5.55M | 5.59M | 5.59M | 5.59M |
| EBITDA | -$4.77M | -$5.97M | -$11.47M | -$9.79M | -$1.91M | -$1.28M | $443K |
| EBITDA Margin | -21.0% | -29.7% | -76.1% | -84.4% | -18.3% | -15.8% | 6.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $4.16M | $7.97M | $781K | $4.34M | $5.31M | $427K | $904K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $4.16M | $7.97M | $781K | $4.34M | $5.31M | $427K | $904K |
| Accounts Receivable | $1.81M | $2.23M | $2.08M | $1.12M | $1.67M | $1.65M | $1.18M |
| Inventory | $1.64M | $1.84M | $1.53M | $1.67M | $1.44M | $994K | $693K |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $8.11M | $12.5M | $4.85M | $7.78M | $9.61M | $3.18M | $2.9M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $11.07M | $11.96M | $14.16M | $5.31M | $1.03M | $790K | $417K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $309K | $347K | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $10K | $123K | $0 | $3.57M | $0 | $0 | $0 |
| Total Long-Term Assets | $11.39M | $12.43M | $14.16M | $8.88M | $1.03M | $790K | $417K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $19.5M | $24.92M | $19.01M | $16.66M | $10.63M | $3.96M | $3.32M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $0 | $0 | $0 | $4.47M | $1.19M | $781K | $285K |
| Short-Term Debt | $1.27M | $1.33M | $13.36M | $960K | $5K | $1.3M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $5.39M | $3.54M | $2.26M | -$40K | $0 | $0 | $0 |
| Total Current Liabilities | $7.81M | $6.2M | $17.34M | $6.6M | $1.31M | $2.14M | $285K |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $4.53M | $4.44M | $699K | $4.61M | $145K | $4.69M | $4.67M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $20.03M | $20.03M | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $29.87M | $30.94M | $8.47M | $7.67M | $409K | $4.95M | $4.67M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $37.69M | $37.14M | $25.81M | $14.31M | $1.72M | $7.09M | $4.96M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $5K | $5K |
| Common Stock | $1K | $1K | $789 | $4K | $3K | $2K | $2K |
| Retained Earnings | -$60.78M | -$53.79M | -$43.04M | -$27.07M | -$15.05M | -$12.21M | -$10.2M |
| Comprehensive Income & Other | $0 | $0 | $0 | -$0 | $0 | -$0 | -$2K |
| Other Stockholders' Equity | $42.59M | $41.58M | $36.24M | $29.42M | $23.96M | $9.08M | $8.56M |
| Total Equity | -$18.18M | -$12.22M | -$6.8M | $2.35M | $8.92M | -$3.13M | -$1.64M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $19.5M | $24.92M | $19.01M | $16.66M | $10.63M | $3.96M | $3.32M |
| Supplementary Data | |||||||
| Total Debt | $12.26M | $13.57M | $23.55M | $9.84M | $533K | $6.31M | $4.67M |
| Net Debt | $8.1M | $5.6M | $22.77M | $5.5M | -$4.78M | $5.88M | $3.77M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$6.99M | -$10.75M | -$15.97M | -$12.03M | -$2.84M | -$2.01M | -$223K |
| Depreciation & Amortization | $1.22M | $1.51M | $1.59M | $1.36M | $371K | $267K | $201K |
| Deferred Income Tax | $5K | $0 | $0 | $0 | $0 | $0 | -$1.46M |
| Stock-Based Compensation | $1.01M | $1.69M | $1.28M | $644K | $176K | $19K | $24K |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $424K | -$154K | -$954K | $542K | -$13K | -$469K | -$760K |
| Inventory | $202K | -$305K | $130K | -$234K | -$458K | -$301K | -$209K |
| Accounts Payable | $280K | -$34K | $0 | $0 | $0 | $0 | -$62K |
| Other Working Capital | -$177K | -$628K | -$1.34M | $381K | -$733K | $520K | -$81K |
| Total Working Capital Change | $728K | -$1.12M | -$2.17M | $690K | -$1.2M | -$251K | -$1.11M |
| Other Non-Cash Items | $2.63M | $2.01M | $1.81M | $88K | -$1.33M | $25K | $1.59M |
| Net Cash from Operating | -$1.39M | -$6.65M | -$13.45M | -$9.25M | -$4.82M | -$1.95M | -$974K |
| Investing Activities | |||||||
| Capital Expenditures | -$1.38M | -$381K | -$102K | -$550K | -$393K | -$311K | -$309K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | -$371K | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$1.38M | -$752K | -$102K | -$550K | -$393K | -$311K | -$309K |
| Financing Activities | |||||||
| Debt Repaid | $579K | $9.25M | -$5.13M | -$4.11M | -$1.68M | -$1.78M | -$1.65M |
| Common Stock Issuance | $0 | $24.62M | $5.44M | $4.77M | $8.42M | $0 | $61K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$470K | -$777K | -$570K | -$53K | $0 | $11K | $61K |
| Net Cash from Financing | -$1.05M | $14.6M | $10M | $8.82M | $10.1M | $1.79M | $1.71M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $476K |
| Net Change in Cash | -$3.82M | $7.19M | -$3.56M | -$974K | $4.89M | -$477K | $904K |
| Supplementary Data | |||||||
| Operating Cash Flow | -$1.39M | -$6.65M | -$13.45M | -$9.25M | -$4.82M | -$1.95M | -$974K |
| Capital Expenditure | -$1.38M | -$752K | -$102K | -$550K | -$393K | -$311K | -$309K |
| Free Cash Flow | -$2.77M | -$7.41M | -$13.56M | -$9.8M | -$5.21M | -$2.26M | -$1.28M |
| Cash at Beginning | $7.97M | $781K | $4.34M | $5.31M | $427K | $904K | $0 |
| Cash at End | $4.16M | $7.97M | $781K | $4.34M | $5.31M | $427K | $904K |