London, United Kingdom--(Newsfile Corp. - December 16, 2024) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") today shared key updates and milestones featured during its recent investor webinar. These updates underscore the Company's strong momentum, strategic growth initiatives, and financial stability heading into 2025 and beyond.
Southeast Asia Success
Gorilla has secured a large smart education contract in Southeast Asia. The agreement is currently in the final stages of term discussions, further demonstrating Gorilla's ability to deliver transformative solutions across critical industries.
Robust Backlog and 2025 Outlook
The Company is set to enter 2025 with a $93 million backlog, excluding additional projects and the Southeast Asia smart education contract. Gorilla projects revenue between $90 million and $100 million in 2025, supported by an EBITDA margin of 20-25%. This strong foundation positions Gorilla for sustainable multi-year growth.
BroadSat Partnership to Deliver Early Wins
Significant progress has been made in Gorilla's partnership with Boston-based BroadSat. The collaboration is projected to generate $6 to $9 million in revenue within the first 12 months. As the partnership gains traction, annual revenues are expected to exceed $20 million. Both companies are actively bidding on projects exceeding $70 million, leveraging their combined expertise, to deliver innovative AI and connectivity solutions.
Future Growth Focus
Chairman and CEO Jay Chandan emphasized Gorilla's forward-looking strategy, with a renewed focus on securing contracts that will drive growth in 2026 and beyond. "We are entering 2025 with a rock-solid foundation and an ambitious vision for the years ahead. From the United States, to EMEA to Asia, our strategy is clear: we are here to lead. To our shareholders, I say this: keep your eyes peeled - we are just getting started," Chandan remarked during the session.
Expansion in the United States
Gorilla is actively bidding on a $70+ million U.S.-based project, alongside other business opportunities, as part of its commitment to expanding its footprint in this key market.
Growing Project Pipeline
With a growing pipeline of $2+ billion in opportunities spanning multiple years, Gorilla is positioned to deliver recurring revenue streams, that underpin its long-term growth strategy.
Share Buyback Program Update
To date, Gorilla has utilized $3.8 million of its $6 million authorized share buyback program. Discussions are underway to extend the program to $9 million, leveraging the Company's healthy cash reserves and consistent cash generation.
Cash Flow Strength
Consistent cash flow generation enables Gorilla to maintain a strong financial position while supporting lending strategies and avoiding dilution.
Webinar Replay Available
Investors can access the full recording of the webinar with the following link: https://bit.ly/3ZTsMaC
About Gorilla Technology Group Inc.
Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.
Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about the capabilities of our GPU offering, our ability to deliver products at competitive prices, our ability to service our customers, the growth of the Smart City market, the capabilities of our third party vendors, our ability to attract the attention of customers and win additional projects, along with those other risks described under the heading "Risk Factors" in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the "SEC") on May 15, 2024 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Investor Relations Contact:
Dave Gentry RedChip Companies, Inc. 1-407-644-4256 GRRR@redchip.com
