Gorilla Technology Group (GRRR) Company Report

Analyst Coverage

Research analysts who have asked questions during Gorilla Technology Group earnings calls.

John Roy

Water Tower Research LLC

7 questions for GRRR

Also covers: CXDO, FIBK, NOTE +3 more

Brian Kinstlinger

Alliance Global Partners

6 questions for GRRR

Also covers: AI, ALAR, ATER +24 more

Mike Latimore

Northland Capital Markets

5 questions for GRRR

Also covers: AI, AXON, CTLP +22 more

Aditya Dagaonkar

Northland Capital Markets

3 questions for GRRR

Also covers: CTLP, DCGO, ONDS +1 more

Barrett Boone

RedChip

2 questions for GRRR

David Williams

The Benchmark Company

2 questions for GRRR

Also covers: AOSL, AP, BDC +18 more

Kevin Pimental

Alliance Global Partners

2 questions for GRRR

Also covers: CNVS, OOMA

Latest news

Recent press releases and 8-K filings for GRRR.

Gorilla Technology Group Provides 2026 Revenue Guidance and Data Center Expansion Update

GRRR

Guidance Update

New Projects/Investments

Share Buyback

Gorilla Technology Group has guided for $137 million-$200 million in revenue for 2026, supported by a contracted base exceeding $100 million and a pipeline of over $10 billion in AI infrastructure, national systems, and data center deals.
The company targets deploying up to 100 MW of data center capacity by the end of 2026, with plans to sign for a few hundred MW more to reach 100 MW by the end of 2027. This includes a $300 million-plus deployment starting in Indonesia.
The data center business is expected to achieve 70%+ gross margins and 20%-25% operating margins, contributing to a blended operating margin of 20%+ at the midpoint of the 2026 revenue guidance.
Gorilla has repurchased over $11 million in shares, with approximately $9 million remaining from the $20 million authorization, without compromising growth projects.

2 hours ago

Transcript

Gorilla Technology Group Discusses Data Center Deployments, 2025 Revenue Guidance, and Market Challenges

GRRR

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Gorilla Technology Group is advancing non-dilutive project-level financing for its data center deployments, with a $300 million-plus deployment commencing in Indonesia. The company anticipates investing $20-$30 million in equity for a $300-$350 million deployment, with debt covering over 85% of the cost.
The company projects 2025 revenue guidance between $137 million and $200 million, with a midpoint of $170 million, primarily from Southeast Asia and split evenly between enterprise and government clients. The data center business is expected to yield gross margins of 70%+, significantly higher than its traditional business.
Gorilla is pursuing a multi-site, phased rollout for an announced $1.4 billion project across Indonesia, Thailand, and Malaysia, and is targeting new deals exceeding $10 billion in Asia Pacific and the Middle East.
Significant constraints to project conversion include memory capacity and delivery delays, with server DRAM contract prices forecasted to rise 60%-70% in Q1 2026 and HBM3e prices by 20%-40% for early 2026 deliveries. A global lack of scalable data centers and associated infrastructure (land, fiber, power) also presents a bottleneck.

3 hours ago

Transcript

GRRR Provides 2026 Guidance and Operational Updates

GRRR

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

GRRR provided 2026 revenue guidance of $137 million to $200 million, supported by a contracted backlog well north of $100 million.
The company is actively pursuing a pipeline of over $10 billion across AI infrastructure, national systems, and data centers, with an operational target to deploy up to 100 megawatts of data centers by the end of 2026.
Progress is being made on a US acquisition and new US wins, while expanding global delivery capabilities with four data center centers.
The data center business is projected to achieve gross margins of 70%+ and a blended operating margin of about 20%+ at the midpoint of 2026 guidance, demonstrating significant operating leverage.

4 hours ago

Transcript

Gorilla Technology Group Reports Strong 2024 Results, Issues Upbeat Guidance, and Announces $1.4 Billion Contract

GRRR

Earnings

Guidance Update

New Projects/Investments

Gorilla Technology Group (GRRR) reported $74.7 million in revenue, $20.6 million in Adjusted EBITDA, and $21.3 million in Adjusted Net Income for 2024.
The company provided FY 2025 guidance projecting revenue between $100-110 million, EBITDA between $20-25 million, and net profit between $15-20 million. For FY 2026, revenue guidance is set at $137-200 million.
Revenue for 1H 2025 increased 90% year-over-year to $39.3 million.
In September 2025, Gorilla secured a $1.4 billion contract with Freyr for data centers and GPU-as-a-Service across Southeast Asia, contributing to an $85 million backlog for FY 2026.

Dec 17, 2025, 11:00 PM

Presentation

Gorilla Technologies Secures $1.4 Billion FRAIR Contract and Provides 2026 Revenue Outlook

GRRR

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

Gorilla Technologies has secured a $1.4 billion three-year contract with FRAIR, with the first $300 million phase launching in Thailand and an additional $450 million phase running alongside it.
The company made a strategic investment in Actros in India to expand its presence in the AI compute, data center, and sovereign security markets, targeting India's AI market projected to grow to $330 billion by 2033.
For 2026, Gorilla Technologies reports $85 million in signed contracts and backlog, providing a broad revenue guidance of $137 million to $200 million.
The company maintains a strong financial position with over $110 million in cash and debt reduced to below $15 million, anticipating 75% gross margin and 60%-65% EBITDA from data center operations.

Dec 17, 2025, 4:00 PM

Transcript

Gorilla Technology Group Discusses Major Contracts and 2026 Revenue Guidance

GRRR

New Projects/Investments

Guidance Update

M&A

Gorilla Technology Group is expanding its focus on sovereign-grade AI compute and data center capabilities across regions, deploying mission-critical AI security platforms.
The company has secured significant contracts, including a $1.4 billion three-year contract with FRAIR (with initial $300 million and subsequent $450 million phases) and an Indonesia data center program (with $300 million Phase 1 and $450 million Phase 2 deployments).
For 2026, Gorilla provides revenue guidance of $137 million to $200 million, supported by $85 million in signed contracts and backlog.
Financially, Gorilla maintains over $110 million in cash and has reduced debt to below $15 million, utilizing non-recourse debt in SPVs for capital-intensive data center projects to manage balance sheet impact.

Dec 17, 2025, 4:00 PM

Transcript

Gorilla Technology Discusses Strategic Projects, Global Expansion, and 2026 Outlook

GRRR

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

Gorilla Technology is deploying mission-critical AI security platforms and building sovereign-grade AI compute with increased data center capabilities across regions including the Middle East, North Africa, Europe, Southeast Asia, Latin America, and East Asia.
The company has a $1.4 billion contract with Freyr, with the first $300 million phase currently launching in Thailand and a second $450 million phase now directly started.
Gorilla is expanding its footprint and R&D/engineering teams in Asia, including new offices in Singapore and Indonesia, and has invested in Astrikos in India to address the growing AI and data center market.
For 2026, the company has $85 million in signed contracts and backlog and expects data centers to achieve 75% gross margin, 60%-65% EBITDA, and 20%-25% operating margin. The first Freyr deployment is expected in the first half of 2026.
CEO Jay Chandan was formally nominated for the 2025 Nobel Sustainability Awards in the category of leadership and implementation.

Dec 17, 2025, 4:00 PM

Transcript

Gorilla Technology Group Reports Record Q3 2025 Results and Strong 2026 Guidance

GRRR

Earnings

Guidance Update

New Projects/Investments

Gorilla Technology Group reported a record Q3 2025 with revenue of $26.5 million, exceeding analyst expectations, and achieved a positive IFRS operating income of $4.4 million and breakeven IFRS EPS of $0.00. The company significantly strengthened its balance sheet, reporting $121.4 million in total cash (including $109 million unrestricted) and reducing debt to $15.1 million, resulting in a net cash position of $106 million.
The company is on track to meet its 2025 revenue guidance of $100 million-$110 million with EBITDA margins in the 20%+ range. For 2026, revenue guidance is set at $137 million-$200 million, with EBITDA margins projected between 15%-25%.
This 2026 guidance is underpinned by a contractual backlog of $85 million and the first phase of the $1.4 billion FRAIR Southeast Asia data center project, which is expected to contribute $100 million in annual revenue from 2026 to 2028. Additionally, Gorilla Technology Group has a robust pipeline of future projects exceeding $7 billion.

Nov 18, 2025, 1:30 PM

Transcript

GRRR Reports Strong Q3 2025 Results and Provides 2026 Guidance

GRRR

Earnings

Guidance Update

New Projects/Investments

GRRR reported a record Q3 2025, with revenue of $26.5 million, adjusted EBITDA of $6.8 million, and adjusted net income of $6 million. The company ended the quarter with a significant net cash position of $106 million, comprising $109 million of unrestricted cash and $15.1 million in debt.
The company remains on track to meet its 2025 guidance, which includes revenue in the range of $100 million-$110 million, EBITDA margins of 20% plus, and net income margins of 15%-20%.
For 2026, GRRR issued revenue guidance of $137 million-$200 million and EBITDA margins in the 15%-25% range. This guidance is primarily based on contractual backlog, including $100 million from the first phase of the $1.4 billion FRAIR contract.
GRRR's pipeline has grown to over $7 billion, with a strategic focus on becoming a sovereign AI infrastructure operator, diversifying revenue, and expanding in Southeast Asia.

Nov 18, 2025, 1:30 PM

Transcript

Gorilla Technology Group Reports Record Q3 2025 Results and Provides 2026 Guidance

GRRR

Earnings

Guidance Update

New Projects/Investments

Gorilla Technology Group reported a record third quarter for 2025, with revenue of $26.5 million, exceeding analyst expectations, and achieving a positive operating profit of $4.4 million. The company also reported $6.8 million in Adjusted EBITDA and $6 million in Adjusted Net Income.
The company's cash position stands at $121.4 million total cash, including $109 million of unrestricted free cash, and has reduced debt to $15.1 million, resulting in a net cash position of $106 million as of Q3 2025.
Gorilla Technology Group is on track to meet its 2025 guidance of $100 million-$110 million in revenue, with EBITDA margins in the 20% plus range and net income margins in the 15%-20% range.
For 2026, the company issued revenue guidance of $137 million-$200 million, driven by its contracted backlog and the first phase of a Southeast Asia data center project expected to contribute $100 million annually for the first three years. The company also noted a pipeline of over $7 billion.
The company plans strategic expansion through potential M&A in India and the United States to gain scale and capability in these key AI markets.