GUER · Guerrilla RF, Inc.

Guerrilla RF's first quarter 2026 results mark a significant inflection point, with revenue surging 48% year-over-year to $6.5 million, driven by a 207% increase in catalog revenue as design wins converted into production. Gross margin expanded 880 basis points to 69.9%, reflecting higher volumes, improved operating leverage, and a favorable shift toward higher-margin catalog products. Operating loss narrowed dramatically to just $46 thousand, a $3.1 million improvement from the prior year, bringing the company near breakeven. Net income reached $1.1 million, compared to a net loss of $3.5 million in the prior year period, aided by non-cash gains and tax credits. The company ended the quarter with $3.2 million in cash and an $8.8 million product backlog, up 31% year-over-year, signaling strong future demand. Management expressed confidence in achieving full-year operating profitability in 2026, citing improved cost structure and operating leverage. The results demonstrate successful execution of the company's strategy to scale catalog sales and manage expenses, positioning Guerrilla RF for sustained growth.