The Times Australia
News From Asia

.

Gorilla Announces Transformative Milestones, a $2 Billion Pipeline and Strong Growth Outlook Following Investor Webinar

London, United Kingdom - Newsfile Corp. - December 16, 2024 - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") today shared key updates and milestones featured during its recent investor webinar.

These updates underscore the Company's strong momentum, strategic growth initiatives, and financial stability heading into 2025 and beyond.

Southeast Asia Success

Gorilla has secured a large smart education contract in Southeast Asia. The agreement is currently in the final stages of term discussions, further demonstrating Gorilla's ability to deliver transformative solutions across critical industries.

Robust Backlog and 2025 Outlook

The Company is set to enter 2025 with a $93 million backlog, excluding additional projects and the Southeast Asia smart education contract. Gorilla projects revenue between $90 million and $100 million in 2025, supported by an EBITDA margin of 20-25%. This strong foundation positions Gorilla for sustainable multi-year growth.

BroadSat Partnership to Deliver Early Wins

Significant progress has been made in Gorilla's partnership with Boston-based BroadSat. The collaboration is projected to generate $6 to $9 million in revenue within the first 12 months. As the partnership gains traction, annual revenues are expected to exceed $20 million. Both companies are actively bidding on projects exceeding $70 million, leveraging their combined expertise, to deliver innovative AI and connectivity solutions.

Future Growth Focus

Chairman and CEO Jay Chandan emphasized Gorilla's forward-looking strategy, with a renewed focus on securing contracts that will drive growth in 2026 and beyond. "We are entering 2025 with a rock-solid foundation and an ambitious vision for the years ahead. From the United States, to EMEA to Asia, our strategy is clear: we are here to lead. To our shareholders, I say this: keep your eyes peeled - we are just getting started," Chandan remarked during the session.

Expansion in the United States

Gorilla is actively bidding on a $70+ million U.S.-based project, alongside other business opportunities, as part of its commitment to expanding its footprint in this key market.

Growing Project Pipeline


With a growing pipeline of $2+ billion in opportunities spanning multiple years, Gorilla is positioned to deliver recurring revenue streams, that underpin its long-term growth strategy.

Share Buyback Program Update

To date, Gorilla has utilized $3.8 million of its $6 million authorized share buyback program. Discussions are underway to extend the program to $9 million, leveraging the Company's healthy cash reserves and consistent cash generation.

Cash Flow Strength

Consistent cash flow generation enables Gorilla to maintain a strong financial position while supporting lending strategies and avoiding dilution.

Webinar Replay Available

Investors can access the full recording of the webinar with the following link: https://bit.ly/3ZTsMaC

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements


This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about the capabilities of our GPU offering, our ability to deliver products at competitive prices, our ability to service our customers, the growth of the Smart City market, the capabilities of our third party vendors, our ability to attract the attention of customers and win additional projects, along with those other risks described under the heading "Risk Factors" in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the "SEC") on May 15, 2024 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

The issuer is solely responsible for the content of this announcement.

About Gorilla Technology Group Inc.

Times Magazine

Headless CMS in Digital Twins and 3D Product Experiences

Image by freepik As the metaverse becomes more advanced and accessible, it's clear that multiple sectors will use digital twins and 3D product experiences to visualize, connect, and streamline efforts better. A digital twin is a virtual replica of ...

The Decline of Hyper-Casual: How Mid-Core Mobile Games Took Over in 2025

In recent years, the mobile gaming landscape has undergone a significant transformation, with mid-core mobile games emerging as the dominant force in app stores by 2025. This shift is underpinned by changing user habits and evolving monetization tr...

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

From Beach Bops to Alpine Anthems: Your Sonos Survival Guide for a Long Weekend Escape

Alright, fellow adventurers and relaxation enthusiasts! So, you've packed your bags, charged your devices, and mentally prepared for that glorious King's Birthday long weekend. But hold on, are you really ready? Because a true long weekend warrior kn...

Effective Commercial Pest Control Solutions for a Safer Workplace

Keeping a workplace clean, safe, and free from pests is essential for maintaining productivity, protecting employee health, and upholding a company's reputation. Pests pose health risks, can cause structural damage, and can lead to serious legal an...

The Times Features

Tricia Paoluccio designer to the stars

The Case for Nuturing Creativity in the Classroom, and in our Lives I am an actress and an artist who has had the privilege of sharing my work across many countries, touring my ...

Duke of Dural to Get Rooftop Bar as New Owners Invest in Venue Upgrade

The Duke of Dural, in Sydney’s north-west, is set for a major uplift under new ownership, following its acquisition by hospitality group Good Beer Company this week. Led by resp...

Prefab’s Second Life: Why Australia’s Backyard Boom Needs a Circular Makeover

The humble granny flat is being reimagined not just as a fix for housing shortages, but as a cornerstone of circular, factory-built architecture. But are our systems ready to s...

Melbourne’s Burglary Boom: Break-Ins Surge Nearly 25%

Victorian homeowners are being warned to act now, as rising break-ins and falling arrest rates paint a worrying picture for suburban safety. Melbourne residents are facing an ...

Exploring the Curriculum at a Modern Junior School in Melbourne

Key Highlights The curriculum at junior schools emphasises whole-person development, catering to children’s physical, emotional, and intellectual needs. It ensures early year...

Distressed by all the bad news? Here’s how to stay informed but still look after yourself

If you’re feeling like the news is particularly bad at the moment, you’re not alone. But many of us can’t look away – and don’t want to. Engaging with news can help us make ...