Thu, Nov 14, 12:59 PM (236 days ago)
**Guerrilla RF, Inc. (Ticker: GRF)** reported significant financial developments for the third quarter of 2024. Revenue surged by 34.4% year-over-year to $4.5 million, driven by a 277% increase in wireless infrastructure product demand and robust international sales growth of 183%. Gross profit margin improved to 65.3%, up from 55.7%, reflecting a favorable product mix and operational efficiencies. Operating losses narrowed to $2.6 million, down from $3.7 million, as operating expenses remained stable at $5.6 million. R&D expenses decreased 10%, while sales and marketing costs rose 21%. A notable loss on debt extinguishment of $1.5 million occurred due to an amendment to the Salem Loan Facility, alongside a $2.6 million change in the fair value of warrant liabilities. The net loss for the quarter was $7.2 million, with a net loss per share of $0.71. Cash reserves increased significantly to $11.3 million, bolstered by a successful equity raise of $21.6 million in August 2024. The company aims to leverage these funds to support ongoing operations, despite a history of recurring losses and an accumulated deficit of $55.4 million. Future growth strategies focus on expanding high-margin product sales and improving operational efficiencies.