Guerrilla RF, Inc., a fabless semiconductor company based in Greensboro, North Carolina, reported a revenue increase of 13% for the fiscal year 2025, reaching $22.7 million compared to $20.1 million in 2024. This growth was primarily driven by significant increases in the automotive and catalog product categories, which saw increases of 58% and 39%, respectively. However, this was partially offset by a 75% decline in the wireless infrastructure category, which had previously benefited from a key customer design ramp. The company's gross profit margin improved to 65.3%, up from 63.7% in the prior year, attributed to a favorable product mix and pricing actions.
The company recorded an operating loss of $4.7 million for 2025, a notable improvement from the $8.8 million loss in 2024. This reduction in operating loss was due to higher revenues and a 10% decrease in operating expenses, which fell from $21.6 million in 2024 to $19.5 million in 2025. The decrease in expenses was largely due to reductions in employee costs and other fixed costs as part of ongoing cost reduction measures. The basic net loss per share improved to $0.67 from $1.12 in the previous year.
In terms of strategic developments, Guerrilla RF moved into a new headquarters in early 2023, expanding its office and laboratory space to support its growing employee base and research and development needs. The company also focused on expanding its distributor and sales networks, enhancing its presence in North America, Korea, Japan, and the People's Republic of China. As of December 31, 2025, Guerrilla RF had 183 total products in its catalog, with 20 new products released during the year.
Operationally, the company reported a product backlog of $6.27 million, up from $5.44 million in 2024, indicating strong future demand. International shipments accounted for approximately 42% of total product revenue, reflecting a significant increase from 20% in the previous year. Guerrilla RF's employee count stood at 50 as of December 31, 2025, with a focus on retaining and attracting skilled personnel to support its growth strategy.
Looking ahead, Guerrilla RF anticipates continued investment in research and development, sales, and marketing, while maintaining a focus on improving cash flow and operational efficiencies. The company believes its existing cash resources, along with available borrowings, will provide sufficient liquidity to support operations for at least the next twelve months. However, it acknowledges the ongoing risks associated with market conditions, competition, and the need for successful product development and customer acquisition to achieve long-term profitability.
About Guerrilla RF, Inc.
Guerrilla RF is a fabless semiconductor company specializing in high-performance RF integrated circuits for wireless infrastructure, automotive, and catalog markets. Its products include amplifiers, switches, and filters used in 5G networks, automotive connectivity, satellite communications, and IoT applications. The company outsources manufacturing to global foundries, supports diverse customers worldwide, and emphasizes innovation, quality, and intellectual property to maintain competitive advantages.
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