– EPS improved by 91.7% year-on-year –
– IFRS working loss improved by $53.2 million, or 79.6% year-on-year –
– Adjusted EBITDA stays robust at $19.1 million, sustaining robust adjusted profitability throughout funding development interval –
– Complete working expense diminished by 54.4% to $47.5 million, reflecting continued value self-discipline and earnings high quality –
London, United Kingdom–(Newsfile Corp. – March 2, 2026) – Gorilla Know-how Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Firm”), a worldwide answer supplier in Safety Intelligence, Community Intelligence, Enterprise Intelligence, IoT expertise and knowledge centres, right now introduced monetary outcomes for the yr ended December 31, 2025, delivering report full-year income and a considerable year-on-year enchancment in profitability because the enterprise continued to scale globally with disciplined execution.
Key highlights embrace:
File income development: Income for the yr ended December 31, 2025, was $101.4 million, in contrast with $74.7 million for the yr ended December 31, 2024, a rise of 35.7%. This marks the first time in Gorilla‘s historical past that annual income has exceeded $100 million. The rise was pushed by the Firm’s continued execution throughout AI infrastructure, public security and enterprise programmes in key worldwide markets.
Main profitability turnaround: The Firm delivered a transformational enchancment in reported outcomes for the yr ended December 31, 2025, with IFRS working loss narrowing to $(13.7) million from $(66.9) million for the yr ended December 31, 2024. This represents a $53.2 million enchancment, or a 79.6% year-on-year discount in IFRS working loss, underscoring a real working turnaround.
Continued concentrate on value self-discipline and earnings high quality: Complete working bills for the yr ended December 31, 2025, had been $47.5 million, in comparison with $104.3 million for the yr ended December 31, 2024, a discount of 54.4%. IFRS internet loss narrowed to $(11.3) million from $(64.8) million within the prior yr, representing an enchancment of $53.5 million, or 82.6% year-on-year, reflecting a transparent enchancment within the Firm’s working construction and monetary self-discipline, whereas nonetheless making the required investments for continued development.
Adjusted profitability stays robust whereas investing for development: Adjusted EBITDA for the yr ended December 31, 2025 was $19.1 million and non-IFRS internet earnings was $19.9 million for the yr ended December 31, 2025. Gorilla maintained robust adjusted profitability whereas investing in development capability, together with the growth of workplaces, a big enhance in analysis and improvement capabilities and accelerated product improvement. The corporate saved considerably on finance-related prices as a result of its decrease debt load.
Earnings per share inflection: IFRS fundamental EPS improved considerably to $(0.51) for the yr ended December 31, 2025, in contrast with $(6.13) for the yr ended December 31, 2024, representing an enchancment of 91.7% year-on-year. Adjusted fundamental EPS was $0.89 for the yr ended December 31, 2025. This displays a pointy enchancment in reported per share efficiency whereas preserving optimistic adjusted earnings.
Internet money: Completed the yr with complete money of $104.8 million, together with restricted deposits of $5.3 million. The entire debt load was $13.8 million, down 35.6% from $21.4 million within the prior yr. By means of the refinancing of sure lending agreements and the compensation of others, the Firm materially diminished its deposits beforehand held as collateral in opposition to mortgage obligations in an quantity of $5.3 million.
Share Repurchase Programme: In 2025, Gorilla additionally continued to execute its capital allocation technique by way of share repurchases and spent $3.5 million on buybacks, reflecting its conviction within the intrinsic worth of the enterprise whereas persevering with to fund development, analysis and improvement and strategic execution.
Additional Updates: Within the first two months of 2026, the Firm collected greater than $22 million from its largest clients, representing fee for options delivered and invoiced in 2025. The Firm stays centered on disciplined money assortment and dealing capital administration. As of February 26, 2026, the Firm had $108.4 million of unrestricted money and $116.6 million of complete money. It has spent an extra $3.0 million on share buybacks within the calendar yr 2026.
Assertion from Jay Chandan, Chairman and CEO:
“2025 was a defining yr for Gorilla. We delivered what we promised to the market, and we did it with self-discipline. Crossing $101 million in income for the primary time in our historical past is a significant milestone for our staff and buyers. What’s much more necessary, although, is how we obtained right here: we grew income by 35.7% whereas materially lowering working bills resulting in vital narrowing of our reported losses.
“Our 2025 outcomes are constructed on delivered work, disciplined value management, and improved high quality of earnings. We aren’t managing for optics, as an alternative, we’re managing for execution.
“We’re watching the market dialog shift from ‘Did you beat the quarter?’ to ‘Will AI spending maintain up?’ That’s a good debate, nevertheless it misses the fulcrum. AI is not a discretionary software program development, somewhat, it’s changing into a nationwide functionality and a core working layer for enterprises.
“The following section of AI demand can’t be outlined by one purchaser or one deal. It is going to be outlined by many patrons throughout varied sectors which are constructing everlasting capability. These will embrace governments, regulated enterprises, telecom operators, logistics networks, monetary companies platforms and extra.
“AI compute is shifting from a coaching led cycle to an inference led cycle. That doesn’t cut back demand, it broadens it. Inference pushes AI into on a regular basis workflows and mission vital operations, which will increase the necessity for distributed compute throughout regional knowledge centres and edge environments the place latency, knowledge residency and resiliency necessities matter.
“Information sovereignty isn’t a buzzword however changing into coverage and procurement actuality. Governments and important industries are growing native capability as a result of they are not looking for their nationwide knowledge, regulation enforcement workloads, border safety workloads, citizen companies and strategic financial fashions sitting in international jurisdictions.
“Enterprises are not asking ‘Can we experiment with AI?’ however ‘How will we deploy a safe and regulatory compliant AI at predictable unit economics?’ That shifts determination making away from hype and in the direction of infrastructure, governance, safety and value per inference.
“Telecom operators will not be simply promoting bandwidth anymore. They’re changing into infrastructure orchestrators. They’ve the fibre, the final mile, the enterprise relationships and the regulatory posture to construct compliant regional AI platforms. That could be a structural tailwind for regional knowledge centres and sovereign AI infrastructure.
“That is precisely the evolution we’re positioning for. AI infrastructure is transferring from a small variety of centralised mega builds to a community of sovereign and regional platforms constructed round knowledge locality, latency and compliance. Our inside market work, knowledgeable by a number of datasets, companion inputs and energetic buyer conversations, exhibits the dimensions of this construct cycle.
“That’s the reason we’re advancing knowledge centre and AI infrastructure exercise throughout Singapore, Malaysia, Thailand, India and Indonesia. We’re increasing our analysis work in India and progressing our technique within the Center East, which incorporates Saudi Arabia the place an MoU has been signed and we’re actively exploring knowledge centre improvement alternatives. We’re additionally exploring alternatives to purchase and / or construct our personal knowledge centre belongings. Possession adjustments the mannequin: extra management over supply, stronger long-term positioning and the potential to construct recurring infrastructure-led income streams somewhat than relying solely on undertaking cycles.
“In parallel, we’re strengthening our product edge for this subsequent section of adoption. Our put up quantum cryptography SD WAN answer is on observe to be prepared in April 2026, and our lawful interception product suite stays in continued analysis and improvement as we broaden sovereign grade functionality throughout safety, intelligence and compliance led deployments.
“We’re positioned for this evolution. We design, construct and deploy sovereign-grade platforms, and we function in the actual world of procurement cycles, nationwide necessities, compliance and repair ranges.
“I encourage the market to have a look at the indicators that matter in infrastructure companies: mobilisation exercise, supply cadence, collections and money conversion. Our prime buyer tasks are progressing strongly and buyer satisfaction is mirrored in fee behaviour. We goal to be money circulate optimistic this yr with sustained self-discipline in supply, overhead management and money collections.
“Lastly, Gorilla Know-how Capital is a sport altering catalyst for our subsequent section. It’s designed to broaden our skill to execute bigger infrastructure programmes by structuring capital effectively, aligning long-duration funding with long-duration belongings, and enabling clients to maneuver quicker with clearer financing pathways. It strengthens our skill to scale knowledge centre builds, speed up GPU infrastructure deployment and take part in materially bigger mandates with institutional grade constructions and governance.”
“We’re excited to proceed to ship within the yr forward.”
Outlook for 2026:
Gorilla entered 2026 with robust working momentum and a transparent concentrate on execution in one of many quickest rising infrastructure sectors, globally. We’re actively advancing our AI infrastructure and knowledge centre construct technique throughout India, Malaysia, Thailand and Indonesia and we proceed to judge alternatives in India and the Center East as a part of our broader regional growth.
Unbiased business estimates point out the Asia Pacific knowledge centre market is anticipated to succeed in roughly $35.8 billion in 2026 and develop to roughly $94.1 billion by 2031, with put in capability rising from roughly 29,300 Megawatts (“MW”) in 2025 to roughly 63,100 MW by 2030. India can be scaling quickly, with JLL reporting complete stock of 1,123 MW of IT load capability as of H1 2025 and robust AI pushed demand development. Center East market estimates level to continued growth from roughly $3.5 billion in 2026 towards roughly $7.2 billion by 2031.
Towards this backdrop, the Firm’s pipeline at present stands in extra of $7 billion, which has elevated largely as a result of superior stage AI and GPU infrastructure alternatives in key markets together with Saudi Arabia, Thailand, Indonesia, India and Malaysia. Current undertaking updates embrace:
- Delivered the primary section of the deployment of a lawful interception undertaking with a significant investigation bureau in APAC.
- Received a undertaking with the particular Police Unit in Taiwan centered on forest preservation.
- Signed a MoU with a big actual property operator in Saudi Arabia to companion on native knowledge centre alternatives.
Gorilla’s buyer tasks proceed to carry out, with execution progressing properly and buyer relationships remaining strong. Up to now in 2026, Gorilla collected greater than $22 million for options delivered and invoiced in 2025. Further significant collections within the coming weeks are anticipated to additional help liquidity, working capital self-discipline and execution throughout energetic programmes.
In parallel, Gorilla continues to spend money on product and innovation functionality to help lengthy -term development and margin high quality. Its put up quantum cryptography answer for SD-WAN is focused to be prepared in April 2026, and the Firm is constant analysis and product improvement throughout the lawful interception product suite and associated intelligence capabilities.
Assertion from Bruce Bower, CFO:
“With our capital construction now a power somewhat than a constraint, Gorilla enters 2026 with actual monetary firepower. In 2025, we materially diminished working bills, sharply improved reported losses and maintained robust adjusted profitability whereas persevering with to spend money on development. That mixture displays a extra disciplined working mannequin and a stronger high quality of earnings.
“We exited the yr with substantial liquidity, together with complete money of $104.8 million as of the tip of 2025. We additionally diminished debt to $13.8 million, leaving the Firm with a really robust internet money place. This steadiness sheet power provides us the pliability to execute present mandates, help working capital by way of supply cycles and fund growth with self-discipline. Our priorities for 2026 are to take care of tight monetary controls, enhance money conversion and help the enterprise as we goal to change into money circulate optimistic. We’ll proceed to think about extra buybacks as we imagine the worth of our inventory continues to considerably undervalue Gorilla, each by way of our historic fiscal efficiency and our strategic plans going ahead.”
Financials
Gorilla Know-how Group Inc. and Subsidiaries
Condensed Consolidated Stability Sheets
(Expressed in United States {dollars})
| As of | |||||||
| December 31, 2025 | December 31, 2024 | ||||||
| Gadgets | (Unaudited and Unreviewed) | ||||||
| Belongings | |||||||
| Present belongings | |||||||
| Money and money equivalents and Restricted deposits | $ | 104,830,557 | $ | 37,472,301 | |||
| Accounts receivable, internet and Unbilled receivables | 111,994,621 | 59,976,352 | |||||
| Different present belongings | 16,452,852 | 29,222,923 | |||||
| Complete present belongings | 233,278,030 | 126,671,576 | |||||
| Non-current belongings | |||||||
| Property and gear | 15,749,411 | 14,939,143 | |||||
| Intangible belongings and Proper-of-use belongings | 3,054,848 | 3,437,006 | |||||
| Deferred tax belongings, internet | 11,938,173 | 6,938,213 | |||||
| Different non-current belongings | 7,394,117 | 1,810,044 | |||||
| Complete non-current belongings | 38,136,549 | 27,124,406 | |||||
| Complete belongings | $ | 271,414,579 | $ | 153,795,982 | |||
| Liabilities and Fairness | |||||||
| Liabilities | |||||||
| Present liabilities | |||||||
| Borrowings | $ | 10,391,379 | $ | 17,045,829 | |||
| Accounts and different payables | 46,042,759 | 28,490,211 | |||||
| Inventory warrant liabilities | 241,006 | 20,082,272 | |||||
| Earnings tax liabilities | 11,588,564 | 9,028,829 | |||||
| Different present liabilities | 1,882,594 | 664,144 | |||||
| Complete present liabilities | 70,146,302 | 75,311,285 | |||||
| Non-current liabilities | |||||||
| Lengthy-term borrowings | 3,404,363 | 4,372,188 | |||||
| Deferred tax liabilities | 652,782 | 42,897 | |||||
| Different non-current liabilities | 1,131,293 | 965,759 | |||||
| Complete non-current liabilities | 5,188,438 | 5,380,844 | |||||
| Complete liabilities | 75,334,740 | 80,692,129 | |||||
| Fairness | |||||||
| Share capital | 26,356 | 19,443 | |||||
| Treasury shares at value | (2,105,274 | ) | (33,206,628 | ) | |||
| Different fairness | 198,158,757 | 106,291,038 | |||||
| Complete fairness | 196,079,839 | 73,103,853 | |||||
| Complete liabilities and fairness | $ | 271,414,579 | $ | 153,795,982 | |||
Gorilla Know-how Group Inc. and Subsidiaries
Condensed Consolidated Statements of Complete Earnings (Loss)
(Expressed in United States {dollars})
| Years ended December 31, | |||||||
| 2025 | 2024 | ||||||
| Gadgets | (Unaudited and Unreviewed) | ||||||
| Revenues, internet | $ | 101,360,657 | $ | 74,674,030 | |||
| Value of revenues | (67,484,636 | ) | (37,365,807 | ) | |||
| Gross revenue | 33,876,021 | 37,308,223 | |||||
| Working expense | (47,544,508 | ) | (104,250,398 | ) | |||
| Working loss | (13,668,487 | ) | (66,942,175 | ) | |||
| Internet loss | $ | (11,276,598 | ) | $ | (64,794,616 | ) | |
| Primary loss per share | $ | (0.51 | ) | $ | (6.13 | ) | |
Gorilla Know-how Group Inc. and Subsidiaries
Condensed Consolidated Statements of Money Flows
(Expressed in United States {dollars})
| Years ended December 31, | |||||||
| 2025 | 2024 | ||||||
| (Unaudited and Unreviewed) | |||||||
| Internet money utilized in working actions | $ | (28,924,085 | ) | $ | (29,649,982 | ) | |
| Internet money supplied by investing actions | 5,724,325 | 16,636,834 | |||||
| Internet money supplied by financing actions | 101,191,087 | 27,975,750 | |||||
| Impact of change fee adjustments | (158,414 | ) | 1,429,743 | ||||
| Internet enhance in money and money equivalents | $ | 77,832,913 | $ | 16,392,345 | |||
| Money and money equivalents at starting of yr | $ | 21,699,202 | $ | 5,306,857 | |||
| Money and money equivalents at finish of yr | $ | 99,532,115 | $ | 21,699,202 | |||
Reconciliation of non-IFRS Monetary Measures to IFRS Measures
Along with its reported ends in accordance with Worldwide Monetary Reporting Requirements (IFRS) adopted by the Firm, it has included on this launch sure monetary measures which are thought of non-IFRS monetary measures, together with the next:
(i) Earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA);
(ii) Adjusted EBITDA; and
(iii) Adjusted internet earnings and adjusted earnings per share.
Reconciliation of Working Earnings (Loss) to EBITDA and Adjusted EBITDA
| Years ended December 31, | |||||||
| 2025 | 2024 | ||||||
| (Unaudited and Unreviewed) | |||||||
| Gadgets | (Quantity in USD) | ||||||
| Working loss (IFRS) | $ | (13,668,487 | ) | $ | (66,942,175 | ) | |
| Add: Depreciation bills | 753,406 | 574,121 | |||||
| Add: Amortization bills | 560,273 | 821,201 | |||||
| EBITDA (non-IFRS) | $ | (12,354,808 | ) | $ | (65,546,853 | ) | |
| Add: Restructuring prices (1) | – | 432,774 | |||||
| Add: Change loss from foreign money devaluation (2) | 25,652,684 | 25,332,651 | |||||
| Add: Honest worth measurement of monetary devices, internet (3) | 1,039,329 | 59,540,069 | |||||
| Add: Inventory-based compensation bills (4) | 4,768,696 | 201,908 | |||||
| Adjusted EBITDA (non-IFRS) | $ | 19,105,901 | $ | 19,960,549 | |||
Reconciliation of Internet Loss and Loss per Share to Adjusted Internet Earnings and Adjusted Earnings per Share
| Years ended December 31, | |||||||||||||
| 2025 | 2024 | ||||||||||||
| (Unaudited and Unreviewed) | |||||||||||||
| (Quantity in USD) | |||||||||||||
| Gadgets | Quantity | EPS Impression per share | Quantity | EPS Impression per share | |||||||||
| Internet loss (IFRS) | $ | (11,276,598 | ) | $ | (0.51 | ) | $ | (64,794,616 | $ | (6.13 | ) | ||
| Add: Restructuring prices (1) | – | – | 432,774 | 0.04 | |||||||||
| Add: Change loss from foreign money devaluation (2) | 25,652,684 | 1.15 | 25,332,651 | 2.40 | |||||||||
| Add: Honest worth measurement of monetary devices, internet (3) | 1,039,329 | 0.05 | 59,540,069 | 5.64 | |||||||||
| Add: Inventory-based compensation bills (4) | 4,768,696 | 0.21 | 201,908 | 0.02 | |||||||||
| Much less: Tax results of stock-based compensation bills | (635,874 | ) | (0.03 | ) | – | – | |||||||
| Add: Amortization of acquired intangible belongings (5) | 342,000 | 0.02 | 535,500 | 0.05 | |||||||||
| Adjusted Internet earnings (non-IFRS) | $ | 19,890,237 | $ | 0.89 | $ | 21,248,286 | $ | 2.01 | |||||
| Adjusted diluted earnings per share (non-IFRS) | $ | 0.88 | $ | 2.01 | |||||||||
Notes:
1. Restructuring prices – contains bills associated to organizational restructuring, together with severance funds.
2. Change loss from foreign money devaluation – is the devaluation of financial belongings denominated within the Egyptian pound primarily as a result of depreciation of the Egyptian pound in opposition to the U.S. greenback.
3. Honest worth measurement of monetary devices – contains notional non-cash impression of truthful worth remeasurement of convertible choice shares and warrants.
4. Inventory-based compensation bills – contains non-cash bills acknowledged in reference to restricted inventory unit awards granted to staff and administrators, which vest based mostly on service circumstances.
5. Amortization of acquired intangible belongings – contains non-cash amortization expense associated to intangible belongings acknowledged from asset acquisitions.
About Gorilla Know-how Group Inc.
Headquartered in London U.Okay., Gorilla is a worldwide answer supplier in Safety Intelligence, Community Intelligence, Enterprise Intelligence, IoT expertise and knowledge centres. We offer a variety of options, together with Good Metropolis, Community, Video, Safety Convergence and IoT, throughout choose verticals of Authorities & Public Companies, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Schooling, through the use of AI and Deep Studying Applied sciences.
Our experience lies in revolutionizing city operations, bolstering safety and enhancing resilience. We ship pioneering merchandise that harness the facility of AI in clever video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and superior cybersecurity applied sciences. By integrating these AI-driven applied sciences, we empower Good Cities to boost effectivity, security and cybersecurity measures, in the end bettering the standard of life for residents.
For extra data, please go to our web site: Gorilla-Know-how.com.
Ahead-Trying Statements
This press launch incorporates “forward-looking statements” inside the that means of the “protected harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. Gorilla’s precise outcomes might differ from its expectations, estimates and projections and consequently, you shouldn’t depend on these forward-looking statements as predictions of future occasions. Phrases similar to “anticipate,” “estimate,” “undertaking,” “funds,” “forecast,” “anticipate,” “intend,” “plan,” “might,” “will,” “may,” “ought to,” “believes,” “predicts,” “potential,” “would possibly” and “continues,” and comparable expressions are supposed to determine such forward-looking statements. These forward-looking statements embrace, with out limitation, statements relating to our beliefs about future revenues, our skill to transform our pipeline, our skill to draw the eye of consumers and buyers alike, together with these different dangers described beneath the heading “Danger Components” within the Kind 20-F Gorilla filed with the Securities and Change Fee (the “SEC”) on April 30, 2025 and people which are included in any of Gorilla’s future filings with the SEC. These forward-looking statements contain vital dangers and uncertainties that might trigger precise outcomes to vary materially from anticipated outcomes. Most of those elements are exterior of the management of Gorilla and are tough to foretell. Ought to a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes might range materially from these indicated or anticipated by such forward-looking statements. Readers are cautioned to not place undue reliance upon any forward-looking statements, which communicate solely as of the date made. Gorilla undertakes no obligation to replace forward-looking statements to replicate occasions or circumstances after the date they had been made besides as required by regulation or relevant regulation.
| Public Relations Contact | Investor Relations Contact |
| Samantha Dowd Prosek Companions GRRR@prosek.com | Dave Gentry RedChip Corporations, Inc. 1-407-644-4256 GRRR@redchip.com |
The issuer is solely liable for the content material of this announcement.
