Gorilla Technology Group (GRRR) investor relations material

Executive summary

• Achieved record full-year revenue of $101.4 million, up 35.7% year-over-year, surpassing $100 million for the first time and within guidance range.

• IFRS operating loss narrowed to $13.7 million from $66.9 million, an improvement of 79.6%; net loss improved to $11.3 million from $64.8 million, an 82.6% improvement.

• Adjusted EBITDA reached $19.1 million and adjusted net income was $19.9 million, reflecting robust underlying profitability.

• Ended the year with $104.8 million in cash and reduced debt by 35.6% to $13.8 million, supporting a strong net cash position.

• Total operating expenses were cut by 54.4% to $47.5 million, demonstrating disciplined cost management.

Financial highlights

• Full-year revenue of $101.4 million, a 35.7% increase year-over-year, driven by AI infrastructure, public safety, and enterprise programs.

• IFRS basic EPS improved from -$6.13 to $0.51; adjusted basic EPS of $0.89.

• Gross profit rose to $33.9 million from $37.3 million, despite higher cost of revenues.

• Fourth quarter revenue of $35.6 million and adjusted EPS of $0.37 both exceeded consensus estimates.

• Cash balance at year-end was $104.8 million, increasing to $108 million by late February.

Outlook and guidance

• Maintained revenue guidance for the next year at $137 million–$200 million, dependent on data center project delivery schedules.

• Pipeline exceeds $7 billion, with advanced-stage AI and GPU infrastructure opportunities in key markets.

• Targeting cash flow positivity in 2026 through disciplined delivery and cash collection.

• Anticipates significant employee growth to 2,000–2,500 by mid-next year to support project pipeline.

• No gross margin or EBITDA guidance provided yet; updates expected in coming months.