Company accelerates shipments, increasing lifetime shipments by 17% in seven months

Guerrilla RF, Inc. (OTCQX: GUER) a leading provider of state-of-the-art radio frequency and microwave communications solutions, announced that it has reached a major milestone surpassing 175 million shipments for RFICs/MMICs (radio-frequency integrated circuit/monolithic microwave integrated circuits). This represents a 17% increase in lifetime shipments since reaching the 150 million mark just seven months ago. Since its founding in 2013, Guerrilla RF has experienced rapid growth in multiple markets including wireless infrastructure, automotive infotainment, RFID, and wireless audio. Guerrilla RF has over 120 products in its growing catalog business designed by its leading engineers and design staff that are dedicated to servicing 300+ customers, many of which are Fortune 500 companies.

“Guerrilla RF’s stellar performance and increase in shipments happened in a backdrop where the general semiconductor and RF industry has been experiencing considerable slowdowns and headwinds,” noted Kellie Chong, Chief Business Officer at the company. “The first quarter of 2023 was the second largest quarter in the company’s history even as backlog increased 30% year-over-year and 2022 turned out to be a record year in terms of revenues. We have achieved this by continuing to execute our market diversification strategy entering into new verticals that include satellite communications, aerospace, and defense. Though general market visibility may be limited, we continue to outperform the market underpinned by the breadth of our product portfolio, depth of wireless expertise, and focus on RF innovation and performance combined with robust customer support.”

In 2020 and 2021, the company was recognized by Inc. magazine as being one of the top 500 fastest-growing companies in the country.

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 recently made the top “Inc. 500” list for the second year in a row. For more information, please visit https://guerrilla-rf.com or follow the Company on Twitter and LinkedIn.

Forward-Looking Statements

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