Guerrilla RF, an innovative fabless semiconductor company, announced that it ended 2022 with strong fundamentals and business performance due to advanced products and engagements with leading customers in high-growth markets.
At year-end, the backlog more than doubled from the second quarter, and the contribution margin jumped to 72% in the fourth quarter. In 2022, ASPs grew by 21% from the prior year due to new product introductions, enabled by continued investment in focused research and development initiatives. Shipments of evaluation boards jumped to 435 units in 2022, up from 339 in 2021. Evaluation board shipments are a strong indicator of customer interest because these boards are used to test designs with real-time hardware and are positively correlated with future orders.
According to Ryan Pratt, CEO, and founder of Guerrilla RF, “During 2022, even in a challenging macroeconomic climate, we gained momentum well into year-end. In addition, the company recently completed a private placement of $5 million which will provide us with a strengthened balance sheet and the ability to continue to invest in the business and drive growth.”
In 2022 Guerrilla RF was listed at #81 in the Financial Times article “The Americas’ Fastest Growing Companies,” a list of the top 500 fastest-growing businesses ranked by revenue growth.