Guerrilla RF Posts Record Q2 Revenue of $8.0M, Swings to Operating Profit, and Weighs Nasdaq Uplisting
GUER has more than doubled off its 52-week low of $0.9 on light trading volume (0.1× avg).
Summary
Guerrilla RF posted record Q2 2026 revenue of $8.0M, swung to an operating profit, generated $2.4M in operating cash flow, and is evaluating a Nasdaq uplisting. The reported net loss was driven by a non-cash warrant liability adjustment.
Key Events · Earnings and Guidance · GUER
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Record Revenue and Profitability
Q2 revenue hit a record $8.0M, up 49% YoY, with gross margin expanding to 70.9%. Operating income reached $1.0M, a $2.3M improvement from the prior-year loss.
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Strong Cash Generation
Operating cash flow was $2.4M, and cash on hand rose to $4.6M from $3.2M at the end of Q1, demonstrating the business can now fund operations internally.
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Backlog Surge
Product backlog more than doubled to $13.6M, providing strong revenue visibility for the second half of 2026.
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Non-Cash Warrant Liability Impact
The $2.2M net loss included a $3.0M non-cash charge from the change in fair value of warrant liabilities, driven by the higher share price—not a cash outflow or new dilution.
Analysis · GUER · Manufacturing
A 142% surge in the catalog business propelled Guerrilla RF to its highest quarterly revenue ever—$8.0 million, up 49% year-over-year. Gross margin expanded to 70.9%, and the company swung to a $1.0 million operating profit from a $1.4 million loss a year ago. Operating cash flow reached $2.4 million, while backlog more than doubled to $13.6 million. The reported net loss of $2.2 million was entirely due to a non-cash $3.0 million fair-value adjustment on warrant liabilities—a mark-to-market entry reflecting the higher share price, not a cash outflow or new dilution. Management also disclosed it is actively evaluating a potential uplisting to Nasdaq, signaling confidence in meeting exchange requirements. This quarter marks a clear inflection in operating performance and cash generation, strengthening the company's financial position and strategic options.
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At the time of this filing, GUER was trading at $2.70 on OTC in the Manufacturing sector, with a market capitalization of approximately $28.7M. The 52-week trading range was $0.90 to $7.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.