Gorilla Technology Group Inc (NASDAQ:GRRR), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology, stock rose 1.95% (As on June 19, 8:00:00 AM UTC-4, Source: Google Finance) after the company for FY 24 delivered an Adjusted EPS of $2.02, outperforming market expectations of $0.35 by 477.1%. Gorilla’s full-year 2024 revenues surged to $74.67 million, exceeding the Company’s guidance and reflecting an increase of 15.4% over fiscal year 2023. Net Income excluding these exceptional non-cash items was $21.32 million, beating the lower range of analyst estimates of $3.72 million by an impressive 473.1%. Gorilla ended 2024 with a robust total cash position of $37.47 million, comprising $21.70 million in unrestricted cash and $15.77 million in restricted cash. We would highlight an increase in unrestricted cash from $5.31 million in in 2023 to $21.70 million in 2024. Additionally, the Company reduced outstanding debt to $21.4 million, a decrease of $3.67 million from the prior year.
Further, Gorilla entered 2025 with an ever-expanding pipeline surpassing $6.6 billion in qualified leads and over $2 billion in projects signed in just the past three months. This explosive growth is fueled by continued geographical expansion across the USA, MENA, Southeast & East Asia, South America and the UK, as Gorilla secures high-value, multi-year contracts with key global partners. With a strengthened presence in strategic markets and accelerating demand for AI-driven security and intelligence solutions, Gorilla is not just growing, we are scaling at an unprecedented pace, capturing market share and driving long-term value creation.
GRRR in the first quarter of FY25 has reported the adjusted earnings per share of 23 cents, improved from a loss of $1.47 per share in the prior year’s quarter. The company had reported the adjusted revenue growth of 109 percent to $18.3 million in the first quarter of FY25, missing the analysts’ estimates for revenue by $1.24 million. Adjusted EBITDA for 2024 was $20.62 million, exceeding estimates of $11.7 million by 76.2%. Gross Margin for 2024 stood at 50.0%.
The company reiterates revenue guidance for 2025 of $100-$110 million, with an unwavering focus on achieving cash flow positivity and driving sustainable, profitable growth.
On the other hand, the company has recently appointed Bruce Bower as Chief Financial Officer (CFO), effective 1 June 2025.
In addition, the company has announced a landmark partnership with Toyota Material Handling Warehouse Solutions (Thailand), to co-develop intelligent warehouse automation technologies for Toyota’s global customers.