Guerrilla RF Inc Financials
This page shows Guerrilla RF Inc (GUER) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Guerrilla RF’s gross-margin expansion, lower overhead, and improving cash conversion are shrinking losses much faster than revenue alone would explain.
In the latest year, net loss was-$7.0M but operating cash burn was only-$1.4M , so the accounting loss materially overstates how much cash the business actually consumed as non-cash charges and working-capital movements cushioned the outflow. That matters because liabilities still exceed assets by$18.2M , so the operating recovery is running ahead of the balance-sheet repair.
Operating margin improved to
Liquidity is no longer in the earlier squeeze: the current ratio is 1.0x instead of 0.3x, but that still leaves only a narrow short-term cushion. With cash at
Financial Health Signals
We are recalculating Guerrilla RF Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Guerrilla RF Inc scores -3.49, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($29.8M) relative to total liabilities ($37.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Guerrilla RF Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Guerrilla RF Inc generates $0.20 in operating cash flow (-$1.4M OCF vs -$7.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Guerrilla RF Inc earns $-4.7 in operating income for every $1 of interest expense (-$4.7M vs $986K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Guerrilla RF Inc generated $22.7M in revenue in fiscal year 2025. This represents an increase of 13.0% from the prior year.
Guerrilla RF Inc's EBITDA was -$3.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 52.5% from the prior year.
Guerrilla RF Inc reported -$7.0M in net income in fiscal year 2025. This represents an increase of 35.0% from the prior year.
Cash & Balance Sheet
Guerrilla RF Inc generated -$2.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 60.7% from the prior year.
Guerrilla RF Inc held $4.2M in cash against $0 in long-term debt as of fiscal year 2025.
Guerrilla RF Inc had 11M shares outstanding in fiscal year 2025. This represents an increase of 3.5% from the prior year.
Margins & Returns
Guerrilla RF Inc's gross margin was 65.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.6 percentage points from the prior year.
Guerrilla RF Inc's operating margin was -20.5% in fiscal year 2025, reflecting core business profitability. This is up 23.1 percentage points from the prior year.
Guerrilla RF Inc's net profit margin was -30.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 22.7 percentage points from the prior year.
Capital Allocation
Guerrilla RF Inc invested $8.6M in research and development in fiscal year 2025. This represents a decrease of 11.9% from the prior year.
Guerrilla RF Inc invested $1.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 261.8% from the prior year.
GUER Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.5M-3.6% | $6.7M+6.5% | $6.3M+17.1% | $5.4M+22.8% | $4.4M-0.4% | $4.4M-2.9% | $4.5M-26.0% | $6.1M |
| Cost of Revenue | $1.9M-13.5% | $2.2M+10.1% | $2.0M+8.4% | $1.9M+10.7% | $1.7M-2.1% | $1.7M+10.7% | $1.6M-25.9% | $2.1M |
| Gross Profit | $4.5M+1.5% | $4.5M+4.9% | $4.2M+21.8% | $3.5M+30.5% | $2.7M+0.7% | $2.7M-10.2% | $3.0M-26.0% | $4.0M |
| R&D Expenses | $2.0M+3.3% | $1.9M-2.5% | $2.0M-9.2% | $2.2M-13.0% | $2.5M-1.7% | $2.5M+1.2% | $2.5M+3.9% | $2.4M |
| SG&A Expenses | $968K+2.0% | $950K+0.9% | $941K-20.6% | $1.2M-18.4% | $1.5M-12.8% | $1.7M+27.6% | $1.3M+9.7% | $1.2M |
| Operating Income | -$46K-184.5% | $55K+127.6% | -$198K+85.4% | -$1.4M+57.1% | -$3.2M-1.4% | -$3.1M-19.5% | -$2.6M-118.1% | -$1.2M |
| Interest Expense | $204K-15.2% | $241K-17.6% | $292K+20.6% | $242K+15.0% | $211K-6.4% | $225K-55.1% | $501K-41.5% | $856K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $1.1M+148.2% | -$2.3M-260.9% | -$645K-37.0% | -$471K+86.7% | -$3.5M-324.6% | $1.6M+121.9% | -$7.2M-310.0% | -$1.8M |
| EPS (Diluted) | $0.06 | N/A | N/A | N/A | $-0.34 | N/A | N/A | N/A |
GUER Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $20.6M+5.6% | $19.5M-3.4% | $20.2M-7.9% | $21.9M-1.7% | $22.3M-10.5% | $24.9M-11.5% | $28.2M+54.5% | $18.2M |
| Current Assets | $9.7M+19.1% | $8.1M-1.9% | $8.3M-15.5% | $9.8M-5.1% | $10.3M-17.4% | $12.5M-18.0% | $15.2M+213.5% | $4.9M |
| Cash & Equivalents | $3.2M-22.5% | $4.2M+3.5% | $4.0M-16.5% | $4.8M-21.5% | $6.1M-23.1% | $8.0M-29.3% | $11.3M+1658.3% | $641K |
| Inventory | $1.8M+9.3% | $1.6M-18.4% | $2.0M+13.7% | $1.8M-1.0% | $1.8M-3.1% | $1.8M-4.1% | $1.9M+15.2% | $1.7M |
| Accounts Receivable | $4.0M+118.4% | $1.8M-5.8% | $1.9M-22.5% | $2.5M+29.3% | $1.9M-14.1% | $2.2M+22.5% | $1.8M-15.0% | $2.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $37.5M-0.4% | $37.7M+4.0% | $36.3M-3.3% | $37.5M-0.5% | $37.7M+1.5% | $37.1M-13.7% | $43.0M+82.3% | $23.6M |
| Current Liabilities | $7.9M+1.1% | $7.8M+23.1% | $6.3M-12.3% | $7.2M+2.1% | $7.1M+14.4% | $6.2M-44.9% | $11.3M+105.5% | $5.5M |
| Long-Term Debt | $4.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$16.9M+6.9% | -$18.2M-13.2% | -$16.1M-3.2% | -$15.6M-1.2% | -$15.4M-26.0% | -$12.2M+17.8% | -$14.9M-176.5% | -$5.4M |
| Retained Earnings | -$59.7M+1.8% | -$60.8M-4.0% | -$58.5M-1.1% | -$57.8M-0.8% | -$57.3M-6.6% | -$53.8M+2.8% | -$55.4M-15.0% | -$48.2M |
GUER Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.3M-214.0% | $1.1M+22.2% | $900K+183.2% | -$1.1M+52.2% | -$2.3M+21.0% | -$2.9M-61.5% | -$1.8M-50.9% | -$1.2M |
| Capital Expenditures | $63K-69.1% | $204K-66.7% | $614K+20.1% | $512K+980.7% | $47K-39.5% | $78K-59.1% | $192K+125.1% | $85K |
| Free Cash Flow | -$1.3M-247.0% | $896K+213.6% | $286K+117.9% | -$1.6M+31.0% | -$2.3M+21.4% | -$2.9M-49.7% | -$2.0M-55.9% | -$1.3M |
| Investing Cash Flow | -$63K+69.1% | -$204K+66.7% | -$614K-20.1% | -$512K-980.7% | -$47K+39.5% | -$78K+61.3% | -$202K+54.7% | -$446K |
| Financing Cash Flow | $383K+150.8% | -$754K+27.5% | -$1.0M-480.6% | $273K-42.0% | $471K+230.1% | -$362K-102.9% | $12.6M+1042.4% | -$1.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GUER Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.9%+3.5pp | 66.4%-1.1pp | 67.5%+2.6pp | 64.9%+3.8pp | 61.1%+0.7pp | 60.4%-4.9pp | 65.3%-0.0pp | 65.3% |
| Operating Margin | -0.7%-1.5pp | 0.8%+4.0pp | -3.1%+22.1pp | -25.2%+47.1pp | -72.3%-1.3pp | -71.0%-13.3pp | -57.7%-38.1pp | -19.6% |
| Net Margin | 17.4%+52.1pp | -34.7%-24.5pp | -10.3%-1.5pp | -8.8%+72.3pp | -81.0%-117.0pp | 35.9%+195.1pp | -159.2%-130.4pp | -28.7% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 5.4%+17.4pp | -11.9%-8.7pp | -3.2%-1.1pp | -2.1%+13.7pp | -15.9%-22.2pp | 6.3%+31.9pp | -25.6%-15.9pp | -9.6% |
| Current Ratio | 1.22+0.2 | 1.04-0.3 | 1.30-0.0 | 1.35-0.1 | 1.46-0.6 | 2.02+0.7 | 1.35+0.5 | 0.89 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | -20.4%-33.8pp | 13.4%+8.8pp | 4.5%+34.2pp | -29.7%+23.1pp | -52.8%+14.2pp | -67.0%-23.6pp | -43.4%-22.8pp | -20.6% |
Note: Shareholder equity is negative (-$18.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Guerrilla RF Inc's annual revenue?
Guerrilla RF Inc (GUER) reported $22.7M in total revenue for fiscal year 2025. This represents a 13.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Guerrilla RF Inc's revenue growing?
Guerrilla RF Inc (GUER) revenue grew by 13% year-over-year, from $20.1M to $22.7M in fiscal year 2025.
Is Guerrilla RF Inc profitable?
No, Guerrilla RF Inc (GUER) reported a net income of -$7.0M in fiscal year 2025, with a net profit margin of -30.7%.
What is Guerrilla RF Inc's EBITDA?
Guerrilla RF Inc (GUER) had EBITDA of -$3.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Guerrilla RF Inc's gross margin?
Guerrilla RF Inc (GUER) had a gross margin of 65.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Guerrilla RF Inc's operating margin?
Guerrilla RF Inc (GUER) had an operating margin of -20.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Guerrilla RF Inc's net profit margin?
Guerrilla RF Inc (GUER) had a net profit margin of -30.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Guerrilla RF Inc's free cash flow?
Guerrilla RF Inc (GUER) generated -$2.8M in free cash flow during fiscal year 2025. This represents a 60.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Guerrilla RF Inc's operating cash flow?
Guerrilla RF Inc (GUER) generated -$1.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Guerrilla RF Inc's total assets?
Guerrilla RF Inc (GUER) had $19.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Guerrilla RF Inc's capital expenditures?
Guerrilla RF Inc (GUER) invested $1.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Guerrilla RF Inc spend on research and development?
Guerrilla RF Inc (GUER) invested $8.6M in research and development during fiscal year 2025.
What is Guerrilla RF Inc's current ratio?
Guerrilla RF Inc (GUER) had a current ratio of 1.04 as of fiscal year 2025, which is considered adequate.
What is Guerrilla RF Inc's return on assets (ROA)?
Guerrilla RF Inc (GUER) had a return on assets of -35.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Guerrilla RF Inc's cash runway?
Based on fiscal year 2025 data, Guerrilla RF Inc (GUER) had $4.2M in cash against an annual operating cash burn of $1.4M. This gives an estimated cash runway of approximately 36 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Guerrilla RF Inc's debt-to-equity ratio negative or not reported?
Guerrilla RF Inc (GUER) has negative shareholder equity of -$18.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Guerrilla RF Inc's Altman Z-Score?
Guerrilla RF Inc (GUER) has an Altman Z-Score of -3.49, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Guerrilla RF Inc's Piotroski F-Score?
Guerrilla RF Inc (GUER) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Guerrilla RF Inc's earnings high quality?
Guerrilla RF Inc (GUER) has an earnings quality ratio of 0.20x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Guerrilla RF Inc cover its interest payments?
Guerrilla RF Inc (GUER) has an interest coverage ratio of -4.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.