Gorilla Technology Group (GRRR) Status update summary

Backlog, pipeline, and revenue guidance

• Signed and contracted backlog exceeds $100 million, forming the execution base through 2026, with revenue guidance for 2026 ranging from $137 million to $200 million, driven by phased ramp-up in Asia, Middle East, and Europe data center programs.

• Actively pursuing a qualified pipeline of over $10 billion in AI infrastructure, national systems, and data centers, with strict criteria for moving opportunities into contracted backlog.

• Revenue recognition over the next four quarters will follow a controlled ramp-up as milestones are achieved, with early quarters focused on mobilization and engineering, and later quarters on recurring operations.

• Data center operational targets include deploying up to 100 MW by year-end and several hundred MW by end of next year, subject to contracting and approvals.

• Guidance range reflects delivery schedules, customer readiness, and supply chain factors, with potential to tighten as project milestones are met.

U.S. acquisition and global expansion

• U.S. acquisition process is active but delayed due to government shutdown impacts on procurement and approvals.

• New U.S. contract wins are being pursued, with announcements expected as deals are contracted.

• Global delivery centers established in Southeast/East Asia, India, Middle East/North Africa, and Europe, supporting large-scale data center opportunities.

Major contracts and financing

• $1.4 billion contract is with a Singapore-based contractor for AI data center backbone work; end customer not disclosed.

• Project financing is structured at the SPV level, targeting non-dilutive, project-level capital with under three-year payback periods.

• First phase deployment of $300 million+ in Indonesia is ready, with notice to proceed and procurement milestones expected soon.

• End customers are typically governments or large corporates with strong credit, supporting project finance viability.