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Gorilla Technology Group (GRRR) investor relations material
Gorilla Technology Group H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Entered 2025 with strong momentum, expanding market reach and executing large, complex projects across multiple geographies, including new contracts in Taiwan and the UK.
Revenue for H1 2025 reached $39.3M, up 90% year-over-year, driven by demand for AI-driven security and infrastructure solutions and international expansion.
Signed three new projects in the last 30 days, including two in Taiwan (new customers) and a significant extension in the UK, with a pipeline exceeding $5B.
Shifted business model from seasonal, milestone-heavy cycles to multi-year contracts for steadier, recurring revenue.
Operating loss (IFRS) was $9.1M, but Adjusted EBITDA and Adjusted Net Income (Non-IFRS) were both $5.7M, reflecting underlying profitability excluding non-cash items.
Financial highlights
H1 2025 revenue: $39.3M, up 90% year-over-year, with gross margin in the low 30s due to higher hardware mix, but full-year forecast remains at 40%.
Adjusted EBITDA and Adjusted Net Income both $5.7M, reflecting focus on profitability.
Two one-off losses: a non-cash financing loss from warrant exercises and FX losses from currency devaluation.
Loss per share (IFRS): $0.43; Adjusted Basic EPS (Non-IFRS): $0.29.
Cash and cash equivalents at June 30, 2025: $10.1M; total cash post-equity raise: $26.1M.
Outlook and guidance
Backlog at year start was $93M; after $39M revenue and $4-5M in new orders, backlog stands at $59M for the rest of the year.
Full-year revenue guidance reaffirmed at $100M–$110M, targeting 20%+ EBITDA margins and positive operating cash flow.
Backlog for next year already at $70M, with further updates expected as contracts are finalized.
Plans to use increased liquidity to secure future contracts and drive further expansion, especially in Southeast Asia.
Anticipates continued customer collections and release of customer guarantees to boost cash flow in H2 2025.
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