The record backlog ($13.6M, >1.5 quarters of revenue) and positive operating cash flow provide strong visibility into H2 2026. The potential Nasdaq uplisting adds a catalyst for valuation re-rating. Monitor the Q3 10-Q for continued operating income and cash flow generation, and any formal uplisting announcement.
Price Chart
Executive Summary
Guerrilla RF reported record Q2 2026 revenue of $8.0M, up 49% YoY, driven by a 142% surge in catalog business (aerospace & defense revenue quadrupled). Gross margin expanded to 70.9%, and the company achieved positive operating income of $1.0M, a $2.3M swing from a $1.4M operating loss a year ago. The record $13.6M backlog and strong operating cash flow of $2.4M signal accelerating momentum, though GAAP net loss widened to $2.2M due to a $3.0M non-cash warrant liability loss.
Key Financial Metrics
Key Facts
- Record quarterly revenue of $8.0M, up 49% YoY
- Catalog business grew 142% to $5.0M; aerospace & defense revenue quadrupled to $2.2M
- Gross margin expanded ~600 bps to 70.9%
- Operating income of $1.0M vs. operating loss of $1.4M in prior year
- Operating cash flow of $2.4M vs. ($1.1M) in prior year
- Product backlog more than doubled to $13.6M
- Cash balance increased to $4.6M from $3.2M at Q1 end
- Company actively evaluating potential Nasdaq uplisting
Financial Impact
Revenue $8.0M (record), operating income $1.0M, operating cash flow $2.4M, backlog $13.6M
Risk Factors
- GAAP net loss widened to $2.2M due to $3.0M non-cash warrant liability loss
- Automotive revenue declined 28% YoY to $1.9M
- Nasdaq uplisting is not guaranteed and subject to market conditions and board approval
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-026050 |
| Document: guer20260805_8k.htm | 0001437749-26-026050 |
| Document: 0001437749-26-026050-index-headers.html | 0001437749-26-026050 |
| Document: 0001437749-26-026050-index.html | 0001437749-26-026050 |
| Document: 0001437749-26-026050.txt | 0001437749-26-026050 |
| 8-K Data (Synthetic) | 0001437749-26-026050 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 11w ago | 8-K | $3.50 $3.72 | ▲ +6.29% | ▲ +5.07% | $4.17 (+19.14%) |
May 19, 2026 23w ago | Insider Cluster | $2.92 $3.00 | ▲ +2.74% | ▲ +0.49% | $4.17 (+42.81%) |
May 19, 2026 23w ago | Insider Cluster | $2.92 $3.00 | ▲ +2.74% | ▲ +0.49% | $4.17 (+42.81%) |
May 19, 2026 23w ago | Insider Cluster | $2.92 $3.00 | ▲ +2.74% | ▲ +0.49% | $4.17 (+42.81%) |
May 7, 2026 24w ago | EFFECT | $2.67 $2.65 | ▲ +0.79% | ▲ +2.29% | $4.17 (−56.12%) |
May 6, 2026 24w ago | 8-K | $2.70 $3.04 | ▲ +12.43% | ▲ +11.30% | $4.17 (+54.22%) |
US Market Status
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