Gorilla Technology Doubles Revenue in First Half of 2025 Amid International Expansion

About this update from Gorilla Technology Group Inc.

— Generated H1 2025 revenue of $39.3 million, representing 90.2% year-over-year growth — — Signed 3 new projects in Taiwan and UK — — Reduced debt to $18.1 million from $21.4 million at the end of 2024 and $18.4 million at the end of Q1 2025, strengthening financial flexibility and resilience — — Completed a $105 million equity offering in July 2025 to fund further growth opportunities — London, United Kingdom--(Newsfile Corp. - August 14, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology, today reported its financial results for the first half ended June 30, 2025. Statement from Jay Chandan "Gorilla has completed the first half of 2025 with focus, strength and clear momentum. The results show the underlying profitability of our model and an established growth path as we create value for our customers, shareholders and broader stakeholders. We have delivered on major programmes and signed near-term projects that will accelerate performance in 2026 and beyond. Our plans for global expansion will strengthen our position in Southeast Asia and enhance our delivery capability in key markets." "Our teams are executing with discipline and precision, turning strategic opportunities into tangible outcomes. From advancing critical infrastructure in Asia to enabling climate-technology solutions in the Amazon rainforest, we are demonstrating the value and trust we bring to ambitious partners worldwide. This is a foundation for sustainable growth, deeper market penetration and long-term impact." Statement from Bruce Bower "We continue to emphasize financial discipline in everything we do. We have repaid debt by over $3 million this year, while also releasing restricted assets, moving them into unrestricted cash. In the second half, we anticipate continued customer collections and the release of customer guarantees for existing contracts, which should serve to boost our cash flow. Looking forward, we intend to use our large liquidity buffer to capitalize on new commercial opportunities." Advancing Long-term Strategy This quarter Gorilla, signed key contracts with the Port of Tyne in the United Kingdom, Wan Hai Port in Taiwan and ADE Corporation in Taiwan. These agreements reflect the execution of strategies Gorilla has consistently communicated to the market and signal further projects already in motion. Some additional details on these contracts are below: The Company is in active negotiation on several additional contracts. Gorilla's pipeline now exceeds $5 billion, due to increased capacity across the United States, Middle East and North Africa, Southeast & East Asia, South America and the United Kingdom. Gorilla's growing contract base, execution track record and market demand position us not just as a growth story, but as a global force in AI-powered transformation. Financials GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2025 AND DECEMBER 31, 2024 (Expressed in United States dollars)   GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (Expressed in United States dollars)   GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (Expressed in United States dollars)   RECONCILIATION OF OPERATING INCOME (LOSS) AS PER INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) TO ADJUSTED OPERATING INCOME AND ADJUSTED EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA)   RECONCILIATION OF IFRS NET INCOME (LOSS) TO ADJUSTED NET INCOME (NON-IFRS)   RECONCILIATION OF EARNINGS (LOSS) PER SHARE (IFRS) TO ADJUSTED EARNINGS PER SHARE (NON-IFRS)   Note: All per share amounts in above table are calculated using the basic weighted average ordinary shares outstanding of 19,819,284 and 9,330,948 for the six months ended June 30, 2025 and 2024, respectively. 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. For more information, please visit our website: Gorilla-Technology.com. Forward-Looking Statements 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 future revenues, our ability to convert our pipeline, our ability to and the circumstances under which we would reduce our debt, our ability to attract the attention of customers and investors alike, our expansion into southeast Asia, Gorilla's largest projects and ability to win additional projects and execute definitive contracts related thereto, 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 April 30, 2025 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. Public Relations Contact: Samantha Dowd Prosek Partners [email protected] Investor Relations Contact: Dave Gentry RedChip Companies, Inc. 1-407-644-4256 [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262445

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