Guerrilla RF, Inc. announced the first production purchase order (PO) received from a tier 1 satellite communications (SATCOM) company. Since announcing its entrance into the SATCOM market, Guerrilla RF has secured multiple design wins bringing the potential of 5G connectivity to enabled cellphones and equipment anywhere on the globe. Guerrilla RF has estimated the market opportunity for its chipset to be in excess of $560 million.

Each satellite is estimated to include $20,000 to $40,000 worth of the Company?s chips. Due in part to the SATCOM order and previously announced design wins, the Company expects sales in the year's second half to exceed the $7 million in gross revenue reported in the first half. Guerrilla RF believes it worked through the inventory overhang during the second half of 2022 and is not experiencing a material level of excess inventory as other industry providers have indicated.

Inventory levels appear back to normal or slightly low in channels.