Gorilla Technology Group Inc. posted a record third‑quarter revenue of $26.5 million, a 32% year‑over‑year increase that beat the consensus estimate of $26.0 million by $0.5 million. The growth was driven by a surge in AI‑infrastructure contracts, including a newly signed $1.4 billion data‑center mandate in Southeast Asia, and a broader expansion of its public‑safety and enterprise video‑analytics businesses.
Operating income swung from a $6.0 million loss in Q3 2024 to a $0.4 million profit in Q3 2025, while EBITDA moved from a $5.6 million loss to $0.8 million. The turnaround reflects disciplined cost management and a higher mix of high‑margin AI projects. Net loss narrowed to a near‑breakeven $0.03 million, underscoring the company’s improved operating efficiency.
Adjusted measures reinforce the positive trend: adjusted EBITDA rose to $6.8 million, up 21% from $5.6 million a year earlier, and adjusted net income climbed to $6.0 million, a 72% increase from $3.5 million in Q3 2024. Adjusted earnings per share of $0.26 matched the consensus estimate of $0.26, indicating that the company met expectations while maintaining margin discipline.
Cash and balance‑sheet strength improved markedly. Unrestricted cash reached $110.2 million, a 408% increase from the $21.7 million reported at the end of 2024, while total debt fell 30% to $15.1 million. The liquidity boost positions Gorilla to fund its pipeline and absorb execution risk on large contracts.
The company reiterated its 2025 guidance, projecting revenue of $100 million to $110 million, adjusted EBITDA of $20 million to $25 million, and adjusted net profit of $15 million to $20 million, with positive operating cash flow expected for the full year. For 2026, Gorilla forecasts revenue of $137 million to $200 million, underpinned by the $1.4 billion AI data‑center contract and a multi‑billion‑dollar pipeline that exceeds $7 billion. CEO Jay Chandan said the quarter marked a turning point, noting that “Gorilla has become a recognized leader in AI infrastructure, and our contracted projects, strong balance sheet, and clear line of sight to scale differentiate us from peers.”
Investors responded positively to the earnings beat and the company’s forward‑looking guidance, reflecting confidence in Gorilla’s ability to capitalize on its AI‑infrastructure contracts and sustain momentum in the coming years.
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