Gorilla Technology Group Inc

Gorilla Technology Group, Inc. engages in providing information, software and data processing services. The firm operates through the following segments: Security Convergence, Video Internet of Things (IoT), and Other. It offers its software services to commercial, industrial, municipal and government officers to securely move, store and analyze data for use in biometric authentication, account management, device management, business intelligence, and other applications. The company was founded in 2021 and is headquartered in Neihu, Taiwan.

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Gorilla Technology Group, Inc. engages in the provision of video intelligence, Internet of Things (IoT) security, edge AI data analytics, and operational technology security solutions and services in Asia Pacific. It operates through the following segments: Video IoT, Security Convergence, and Other. The company was founded by Spincer Koh in May 2001 and is headquartered in London, the United Kingdom.

— Introducing the Future of Cybersecurity: Security Convergence Devices by Gorilla — Introducing the Future of Cybersecurity: Security Convergence Devices by Gorilla

Gorilla Technology Lanner Launch Cutting-Edge Security Convergence Devices to Transform Cybersecurity Landscape

LONDON, April 10, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global leader in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, today announced they have signed a Memorandum of Understanding (MOU) with Thames Freeport, a pivotal hub for trade and logistics in the United Kingdom. This strategic alliance is set to revolutionise the Thames Freeport area, aligning an ambitious Smart City Strategy programme and leveraging the Thames Freeport Investment Fund to drive innovation and sustainable growth.

Gorilla Technology and Thames Freeport Announce Strategic Alliance, Advancing Smart City Innovations and Fostering Trade Partnerships

Gorilla Technology Group Inc. (NASDAQ:GRRR ) Q4 2023 Results Conference Call April 8, 2024 8:00 AM ET Company Participants Cody Fletcher - Investor Relations, Blueshirt Group Jay Chandan - Chief Executive Officer & Chairman Daphne Huang - Chief Financial Officer Conference Call Participants John Roy - WTR Mike Latimore - Northland Capital Markets Brian Kinstlinger - Alliance Global Partners Brett Knoblauch - Cantor Fitzgerald Operator Good day, ladies and gentlemen. Thank you for standing by.

Gorilla Technology Group Inc. (GRRR) Q4 2023 Earnings Call Transcript

In a release issued under the same headline earlier today by Gorilla Technology Group Inc. (NASDAQ: GRRR), the Consolidated Income Statement table was not included. The Consolidated Income Statement table is included in this release as the only change. Complete corrected text follows.

CORRECTION – Gorilla Reports Record 2023 Financial Results

-- 2023 revenues up 189% YoY compared to 2022, highlighting continued success globally -- -- High value product and services business model reflected in 2023 gross margin of 69% -- -- Total net income of $19.9 million, compared to ($87.5 million), a 123% increase YoY -- -- Adj. EBITDA of $29.0 million, compared to ($6.0) million, a 587% increase YoY -- LONDON, April 04, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology, today reported financial results for the fiscal year ending December 31, 2023.

Gorilla Reports Record 2023 Financial Results

Expansion into Thailand Includes a Full Suite of Data Center Solutions for Both Physical and Cyber Domains, Ensuring Comprehensive Security Convergence Expansion into Thailand Includes a Full Suite of Data Center Solutions for Both Physical and Cyber Domains, Ensuring Comprehensive Security Convergence

Gorilla Technology Group to Introduce Security Solutions in Thailand's Expanding Data Center Market

LONDON, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, today announced that it has entered into securities purchase agreements with existing institutional investors for the purchase and sale of 10,000 Series B convertible preference shares (the “Series B preference shares”) at a purchase price of $1,000 per share pursuant to a registered direct offering. Each Series B preference share is convertible into ordinary shares of Gorilla at a conversion price of $1.10 per share. Along with the Series B preference shares, Gorilla further agreed to issue to the investors Series B ordinary share purchase warrants (the “Series B warrants”) to purchase up to an aggregate of 8,250,000 ordinary shares of Gorilla. The Series B warrants will have an exercise price of $1.50, will be exercisable immediately and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about February 20, 2024, subject to the satisfaction of customary closing conditions.

Gorilla Announces $10 Million Registered Direct Offering of Convertible Preferred Stock

-- Establishes groundwork for further expansion in the region and globally –- -- A leading Video Management System with Intelligent Video Analytics in Thailand-- LONDON, Feb. 12, 2024 (GLOBE NEWSWIRE) --  Gorilla Technology Group Inc. ("Gorilla") (NASDAQ: GRRR), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, today announced they have secured the winning bid for Comprehensive Video Management System with Intelligent Video Analytics Solution at Chakri Naruebodindra Medical Institute under Rama Hospital., Thailand.

Gorilla Technology Lands Groundbreaking Deal with Major Hospital Network in Thailand

Gorilla Technology Group Inc. (GRRR) Q3 2023 Earnings Call Transcript

-- Opens New Egyptian Office in Cairo -- -- Expanding Regional Presence Through Value-Added Services -- -- Strategic Initiatives to Propel Success -- LONDON, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. ("Gorilla") (NASDAQ: GRRR), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, today announced new developments in the Middle East and Northern Africa ("MENA") region that support Gorilla's global expansion strategy.

Gorilla Technology Expands Middle East and Northern Africa Operations as Part of Global Expansion Strategy

– Q3 revenues far exceeded total revenue of 2022 – – High value Product driven & Services business model reflected in 76.5% gross margin – – Won sales exceeded internal target of $68 million, standing at $300 million (a 441% increase) – – Achieved discounted run rate revenues of $88 million in Q3 – – Solid visibility with sales pipeline over $1 billion –

Gorilla Technology Group Reports Results Through Third Quarter 2023

• Commitment to invest up to $100 million underscores dedication to contributing to the development of the region • Enables Gorilla to efficiently manage operations and support customers in Egypt and greater Middle East Region  LONDON, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global provider of Smart Country AI, IoT technologies and Cybersecurity, is proud to announce the establishment of its new distribution company Gorilla Distribution Partners in Egypt, marking a significant milestone in the company's global expansion strategy. The decision to set up operations in Egypt comes as part of Gorilla's commitment to meeting the growing demand for leading IT hardware & software solutions in the broader Middle East region.

Gorilla Expands Global Presence with New Distribution Company in Egypt and Commits to Invest Up to $100 Million to Support Regional Growth

LONDON, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. ("Gorilla") (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and security convergence, today announced its collaboration with Red Hat, the world's leading provider of enterprise open-source solutions. Gorilla aims to revolutionize Smart Government Security Convergence solutions leveraging Red Hat OpenShift Virtualization, a feature of Red Hat OpenShift and Red Hat Enterprise Linux for cloud infrastructure deployment, operation, and management.

Gorilla Technology Group Collaborates with Red Hat to Bring State-of-the-Art Cloud Infrastructure to Smart Government Security Convergence Solutions

LONDON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. ("Gorilla") (NASDAQ: GRRR), a global provider of Smart Country AI, IoT technologies, and Cybersecurity, today updated investors on operating and financial progress.

Gorilla Technology Group Announces Business Update

LONDON, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. ("Gorilla") (NASDAQ: GRRR), a global provider of Smart Country AI, IoT technologies, and Cybersecurity, today announced a strategic partnership with GST Egypt, a leading solutions provider of Industrial Automation. They bring with them over 20 years of experience and success in the Egyptian and Middle Eastern markets, particularly in the field of securing data, automatic control, industrial computers, embedded systems, industrial network supplies, and control units and providing smart and integrated solutions for information technology, industrial computer systems, and command-control systems.

Gorilla Technology Group Announces Strategic Partnership with GST Egypt to Provide Networking Capabilities and Manufacturing Facilities in MENA

LONDON, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, today announced that it has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 25,000 Series A convertible preference shares (the “Series A preference shares”) at a purchase price of $1,000 per share pursuant to a registered direct offering, resulting in total gross proceeds of approximately $25 million before deducting placement agent commissions and other estimated offering expenses. Each Series A preference share is convertible into ordinary shares of Gorilla at a conversion price of $1.25 per share. Along with the Series A preference shares, Gorilla further agreed to issue to the investors Series A ordinary share purchase warrants (the “Series A warrants”) to purchase up to an aggregate of 20,000,000 ordinary shares of Gorilla. The Series A warrants will have an exercise price of $1.50, will be exercisable immediately and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about September 22, 2023, subject to the satisfaction of customary closing conditions.

Gorilla Announces $25 Million Registered Direct Offering of Convertible Preferred Stock

Gorilla Technology Group is a player in the fields of Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology. The company has experienced a significant decline in its stock price and financial performance, but there is potential for growth. Gorilla has built a strong pipeline of contracts and partnerships, which are not yet reflected in the financials, and management guidance suggests positive cash flow in 2024.

Gorilla Technology Group Is An Untapped Opportunity

Partnership creates opportunities to further expand Gorilla's global footprint to LATAM Partnership creates opportunities to further expand Gorilla's global footprint to LATAM

Gorilla Technology Group Partners with Latin-American Security and Defense Solutions Provider Protactics

LONDON, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and security convergence, today announced the commencement of coverage by Smart Cities and IoT Analyst Zoe Roth and Information Security Analyst Megan Goodwin of 451 Research, which is part of S&P Global Market Intelligence.

S&P Global Market Intelligence Initiates Coverage of Gorilla Technology in 451 Research Report

LONDON, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. ("Gorilla") (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, with the receipt of the advance payment from Government of Egypt, announced the official commencement of its ground-breaking project that will provide the Government of Egypt with a Smart Government Security Convergence solution. The project is a significant step forward for the country and will contribute to Egypt's Vision 2030 objectives.

Gorilla Technology Commences Smart Government Project in Egypt, Marking A New Era in AI Innovation

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Gorilla Technology Group announced it has signed and commenced a multi-year 5G Telecon and Network security project to enhance criminal investigations with a major law enforcement agency in Taiwan, sending its shares almost 13% higher.   The provider of AI-based edge video analytics, IoT technologies and cybersecurity said this is among the first 5G security projects of its kind in the world to be implemented, and the first in Taiwan.

Gorilla Technology shares surge on initiation of 5G security project for Taiwan law enforcement agency

--Multiyear Contract Signed to Provide One of the World's First 5G Smart Law Enforcement Solutions-- --Project Worth USD$20.8M was Awarded in June; to be Completed by 2025--

Gorilla Technology Group Completes Contract Signing and Commences Project to Provide 5G Telecom and Network Investigation Solution to Major Taiwanese Law Enforcement Agency

LONDON, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, today announced that it has filed a universal shelf registration statement on Form F-3 with the United States Securities and Exchange Commission (“SEC”). The filing enhances the company's financial maneuverability, enabling greater access to the capital markets to fund Gorilla's growth.

Gorilla Technology Files Universal Shelf Registration Statement on Form F-3

– Year-on-year growth in fiscal 2023 will be nearly 300% in constant currency – – Booked sales exceeded internal target of $41 million, standing at $272 million (a 563% increase) – – Revenue guidance of $65 million for 2023 and $90 million for 2024 – – Improved Visibility with Revenue Contracted Through 2026 – – 49.4% Gross Margin Affirms Success in Improving Quality of Customer Base – LONDON, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla” or the “Company”) (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, today reported its unaudited financial results for the six months ended June 30, 2023. Highlights Booked sales exceeded internal target of $41 million, standing at $272 million, a 563% increase Evolved from a Project centric business to a Product & Services Business, as demonstrated by multi-hundred-million-dollar contract for Government of Egypt Implemented financial and operational discipline by transitioning out of marginal or unprofitable projects Will implement Smart Government Security Convergence solution for the Government of Egypt Largest contract in company history, with total revenues of $270 million over three years Aggressive actions to safeguard shareholders from illegal stock manipulation Recorded gross margin of 49.4%, a significant increase from the previous year's margin of 33.1%, standing as compelling evidence of a successful transformation to position the company for sustainable and profitable growth at scale Operating expense decreased by $1.9 million compared with the prior year 2023 and 2024 revenue guidance at $65 million and $90 million, respectively Gorilla Chief Executive Officer Jay Chandan commented, “Just after quarter-end we announced a transformational contract with the Government of Egypt, in which we will implement a Smart Government Security Convergence solution.

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