Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Equity Bottom-Up

Gorilla Technology Group  / Equity Bottom-Up

<div><ul><li>Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence, and IoT technology, announced its 3Q25 earnings, with record sales of $26.5 million (up 32% Y/Y).</li><li>The company has $121 million in cash and has reduced debt to $15.1 million. The stock price was up 12% in the aftermarket.</li><li>Gorilla highlighted five successes in the quarter: (1) record revenue (up 32% in Y/Y); (2) strong project execution ($0.4 million operating income versus a loss of $6.0 million a year ago); (3) focus on profitability (adjusted EBITDA grew 31% Y/Y to $6.8 million; (4) improved capital flexibility (total debt down 30%, unrestricted cash of $110 million); and (5) EPS inflection (break-even EPS versus a loss of $7.8 million a year ago)</li></ul></div>

Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence, and IoT technology, announced its 3Q25 earnings, with record sales of $26.5 million (up 32% Y/Y).The company has $121 million in cash and has reduced debt to $15.1 million. The stock price was up 12% in the aftermarket.Gorilla highlighted five successes in the quarter: (1) record revenue (up 32% in Y/Y); (2) strong project execution ($0.4 million operating income versus a loss of $6.0 million a year ago); (3) focus on profitability (adjusted EBITDA grew 31% Y/Y to $6.8 million; (4) improved capital flexibility (total debt down 30%, unrestricted cash of $110 million); and (5) EPS inflection (break-even EPS versus a loss of $7.8 million a year ago)

GRRR: 3Q25 Record Revenue; Break-Even; $121MM in Cash; 2026 Revenue Guidance of $137-200MM

<ul><li>With respect to the recent $1.4-billion contract with Freyr Singapore, Chandan highlighted that the company will be building AI-native infrastructure across Indonesia, Malaysia, and Thailand in phases.</li><li>The initial phase, valued at $300 million, will begin in Indonesia in 4Q.</li><li>This project will provide GPU-dense, liquid-cooled racks with NVIDIA H200 class hardware, optimized for tropical environments with low power usage effectiveness (PUE) workloads. </li></ul>

With respect to the recent $1.4-billion contract with Freyr Singapore, Chandan highlighted that the company will be building AI-native infrastructure across Indonesia, Malaysia, and Thailand in phases.The initial phase, valued at $300 million, will begin in Indonesia in 4Q.This project will provide GPU-dense, liquid-cooled racks with NVIDIA H200 class hardware, optimized for tropical environments with low power usage effectiveness (PUE) workloads. 

Gorilla Technology Group, Inc: CEO and Board Member Go In-Depth to Discuss $1.4-Billion Contract...

<ul><li>Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence and IoT technology, announced its 2Q25 earnings, with sales of $21 million (up 78% Y/Y).</li><li>The company has $26.1 million in cash and has reduced debt to $18.1 million.</li><li>The stock price was up 13% in the pre-market.</li></ul>

Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence and IoT technology, announced its 2Q25 earnings, with sales of $21 million (up 78% Y/Y).The company has $26.1 million in cash and has reduced debt to $18.1 million.The stock price was up 13% in the pre-market.

Gorilla Technology Group, Inc: Earnings Show Continued Momentum...

<ul><li>Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence, and IoT technology, announced its 1Q25 earnings, with adjusted EBITDA of $5.16 million (up 48% Y/Y) on sales of $18.3 million (up 109% Y/Y).</li><li>Adjusted EPS was a solid $0.23 versus a loss of $1.47 last year. The stock price was up 17% in the aftermarket.</li><li>The company has $34 million in cash and has reduced debt to $18 million.</li></ul>

Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence, and IoT technology, announced its 1Q25 earnings, with adjusted EBITDA of $5.16 million (up 48% Y/Y) on sales of $18.3 million (up 109% Y/Y).Adjusted EPS was a solid $0.23 versus a loss of $1.47 last year. The stock price was up 17% in the aftermarket.The company has $34 million in cash and has reduced debt to $18 million.

Gorilla Technology Group, Inc: 1Q25 Revenue Up 109% Y/Y

<ul><li>Gorilla, a leader in AI-powered smart city and digital infrastructure solutions, announced its FY24 earnings, with adjusted EBITDA of $20.6 million (up 76.2% Y/Y) on sales of $74.7 million (up 15.4% Y/Y).</li><li>The company’s gross margin for FY24 came in at 50%, above consensus of 40%. The stock was up 18% in the aftermarket.</li><li>Net income, excluding exceptional non-cash items, was $21.3 million, beating the lower end of analysts’ estimates by 473% ($3.8 million versus $21.3 million). </li></ul>

Gorilla, a leader in AI-powered smart city and digital infrastructure solutions, announced its FY24 earnings, with adjusted EBITDA of $20.6 million (up 76.2% Y/Y) on sales of $74.7 million (up 15.4% Y/Y).The company’s gross margin for FY24 came in at 50%, above consensus of 40%. The stock was up 18% in the aftermarket.Net income, excluding exceptional non-cash items, was $21.3 million, beating the lower end of analysts’ estimates by 473% ($3.8 million versus $21.3 million). 

Gorilla Technology Group, Inc. - Significant FY24 Earnings Beat

Taiwan

Gorilla Technology Group Inc. operates as a video big data and analytics technology firm. The Company offers intelligent video surveillance solutions featuring analytics for enterprise business surveillance, content delivery, and communication solutions for mobile business, network intelligence, forensics, telecommunications, and web service industries.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Gorilla Technology Group (GRRR US)

GRRR: 3Q25 Record Revenue; Break-Even; $121MM in Cash; 2026 Revenue Guidance of $137-200MM

Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence, and IoT technology, announced its 3Q25...

Water Tower Research

Gorilla Technology Group, Inc: CEO and Board Member Go In-Depth to Discuss $1.4-Billion Contract...

With respect to the recent $1.4-billion contract with Freyr Singapore, Chandan highlighted that the company will be building AI-native...

Water Tower Research

Gorilla Technology Group, Inc: Earnings Show Continued Momentum...

Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence and IoT technology, announced its 2Q25 earnings,...

Water Tower Research

Gorilla Technology Group, Inc: 1Q25 Revenue Up 109% Y/Y

Gorilla, a leader in AI-powered security intelligence, network intelligence, business intelligence, and IoT technology, announced its 1Q25 earnings

Water Tower Research

Gorilla Technology Group, Inc. - Significant FY24 Earnings Beat

Gorilla, a leader in AI-powered smart city and digital infrastructure solutions, announced its FY24 earnings, with adjusted EBITDA of $20.6 million...

Water Tower Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)