GREENSBORO, N.C.--(BUSINESS WIRE)--Guerrilla RF, Inc. (OTCQX: GUER), a leading provider of state-of-the-art radio frequency and microwave communications solutions, today announced the first production purchase order (PO) received from a tier 1 satellite communications (SATCOM) company.
Since announcing its entrance into the SATCOM market, Guerrilla RF has secured multiple design wins bringing the potential of 5G connectivity to enabled cellphones and equipment anywhere on the globe. Guerrilla RF has estimated the market opportunity for its chipset to be in excess of $560 million. Each satellite is estimated to include $20,000 to $40,000 worth of the Company’s chips.
The initial PO is for $360,000, with approximately $280,000 worth of chips requested for delivery by the end of the year. Based on current projections, the Company estimates 2024 sales to the SATCOM industry to exceed $1 million in gross revenue.
Due in part to the SATCOM order and previously announced design wins, the Company expects sales in the year's second half to exceed the $7 million in gross revenue reported in the first half. Guerrilla RF believes it worked through the inventory overhang during the second half of 2022 and is not experiencing a material level of excess inventory as other industry providers have indicated. Inventory levels appear back to normal or slightly low in our channels.
“Guerrilla RF continues to gain traction in applications that demand high-performance wireless communications,” said Ryan Pratt, CEO and founder of Guerrilla RF. “We are proud to be recognized as a stable supplier to such a demanding industry.”
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, SATCOM, 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 175 million devices and has repeatedly been included in Inc. Magazine’s annual “Inc. 5000” list. Guerrilla RF has achieved the "Inc. 500" list twice. For more information, please visit https://guerrilla-rf.com or follow the Company on Twitter and LinkedIn.
Forward-Looking Statements
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