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Guerrilla RF (GUER) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Guerrilla RF (GUER) Q3 2026 earnings results →
Q3 2026 Revenue up 61% year over year to $10.1M · 37¢ of every $1 of revenue lost · operating margin 24.1%
Guerrilla RF made $10.1M in Q3 2026 (+61% Y/Y). Operating margin 24.1%, net loss $3.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $10.1M in Q3 2026, up 61% year over year and up 26% from the previous quarter.
Gross margin was 71.7%, up 4.2 points from Q3 2025. Operating profit was $2.4M, a 24.1% margin (up 27.2 points year over year). Operating expenses grew 8% against revenue growth of 61%. The fastest-growing cost line was Sales & marketing (+13%). The quarter ended with a net loss of $3.7M, wider than the previous quarter's $2.2M loss. Net interest and other expense of $6.2M was the main reason.
Operating cash flow was $2.3M (up 159% year over year). Non-cash charges added back $349K of depreciation and $100K of share-based compensation. Working capital and other items added $5.6M. Capital expenditures of $259K left free cash flow of $2.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $10.1M | +61% | 24.1% | −$3.7M | $2.3M |
| Q2 2026 | 10-Q | Aug 12, 2026 | $8.0M | +49% | 12.0% | −$2.2M | $2.4M |
| Q1 2026 | 10-Q | May 13, 2026 | $6.5M | +48% | -0.7% | $1.1M | −$1.3M |
| Q4 2025 | 10-K | Mar 26, 2026 | $6.7M | +53% | 0.8% | −$2.3M | $1.1M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $6.3M | +39% | -3.2% | −$645K | $900K |
| Q2 2025 | 10-Q | Aug 12, 2025 | $5.4M | -12% | -25.2% | −$471K | −$1.1M |
| Q1 2025 | 10-Q | May 13, 2025 | $4.4M | -14% | -72.3% | −$3.5M | −$2.3M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Guerrilla RF
Guerrilla RF, Inc., a fabless semiconductor company based in Greensboro, North Carolina, was founded in 2013, initially as a North Carolina limited liability company before converting to a Delaware corporation. Unless otherwise stated or the context otherwise indicates, references to “Guerrilla RF”, the “Company”, “we”, “our”, “us” or similar terms refer to Guerrilla RF, Inc. Our principal executive offices are located at 2000 Pisgah Church Road, Greensboro, North Carolina 27455. Our telephone number is (336) 510-7840. Our website address is www.guerrilla-rf.com . Information contained on, or that can be accessed through, our website is not a part of this Annual Report. All trademarks, service marks, and trade names appearing in this Annual Report are the property of their respective holders.
In its own words, from its 10-K, filed Mar 26, 2026.
Guerrilla RF against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +61% against the peers' median +45%. Operating margin: 24.1% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GUER Guerrilla RF | Q3 2026 | $10.1M | +61% | 24.1% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
Source: Guerrilla RF 10-Q on SEC EDGAR · CIK 1832487 · Semiconductors & Related Devices
Guidance and outlook
More on GUER
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results