Gorilla Technology (GRRR) Soars on Record Q3 Earnings, $1.4B AI Data Centre Deal and Bullish 2026 Outlook

Gorilla Technology Group Inc. (NASDAQ: GRRR) is back on the radar as its share price jumps on November 18, 2025, after the AI infrastructure company reported record third‑quarter results, a massive AI data centre mandate, and ambitious guidance for 2026.

Record Q3 2025: Strongest Quarter in Company History

Gorilla Technology Group Inc., a London‑headquartered AI and security infrastructure company, has reported the strongest quarter in its history for Q3 2025, with numbers that are reshaping how investors view the small‑cap AI name.

In a press release dated November 17, later filed as a Form 6‑K, the company reported: ^[1]

Q3 2025 revenue of $26.5 million, up roughly 32% year‑over‑year from about $20.1 million in Q3 2024.
Operating income of about $0.4 million, a dramatic swing from an operating loss of $6.0 million a year earlier.
Net loss essentially at breakeven (around $0.03 million), versus a loss of $7.8 million in the prior‑year quarter.
EBITDA turning positive at roughly $0.8 million, compared with an EBITDA loss of $5.6 million in Q3 2024.
Adjusted EBITDA of around $6.8 million, up more than 20% versus the prior year.

Adjusted net income rose to roughly $6.0 million, with adjusted basic EPS of $0.26 and adjusted diluted EPS of $0.24, reflecting Gorilla’s ability to generate profitability on a non‑IFRS basis despite currency and fair‑value swings. ^[2]

Management attributes the growth to execution across AI infrastructure, public safety and enterprise projects spanning Asia, the Middle East, Europe and the Americas — areas that align with Gorilla’s focus on AI‑driven security, smart city, and network intelligence solutions. ^[3]

Balance Sheet Transformation: Cash Up, Debt Down

The Q3 2025 report also underscores how much the balance sheet has improved over the past year. As of September 30, 2025, Gorilla reported: ^[4]

Total cash of $121.4 million, including $110.2 million of unrestricted cash.
Total debt reduced to $15.1 million, down about 30% from $21.4 million at the end of 2024.

Unrestricted cash is up more than four‑fold compared with December 31, 2024, and nearly ten‑fold compared with June 30, 2025, giving the company significantly more flexibility to fund projects and pursue its AI infrastructure pipeline. ^[5]

Gorilla’s CFO has emphasized that this capital structure now acts as a support for growth rather than a constraint, particularly as the company begins funding large AI data centre builds and other national‑scale projects. ^[6]

The $1.4 Billion AI Data Centre Mandate and $7B+ Pipeline

One of the biggest drivers of investor excitement this week is Gorilla’s confirmation of a $1.4 billion AI data centre mandate in Southeast Asia and a rapidly expanding AI and GPU infrastructure pipeline. ^[7]

Key points around this strategic win and pipeline:

Gorilla has secured a $1.4 billion multi‑year AI data centre mandate in Southeast Asia, working with regional partners to build sovereign‑grade AI infrastructure. ^[8]
The company expects the initial phase of the project to contribute about $100 million per year in revenue from 2026 through 2028. ^[9]
Gorilla’s overall AI and GPU infrastructure pipeline now exceeds $7 billion, supported by advanced‑stage opportunities with governments, telecoms and large enterprises. ^[10]

Alongside the AI data centre build‑outs, Gorilla is executing major 5G and AI infrastructure projects in Southeast Asia and pushing large national security and smart‑city deployments in the Middle East and North Africa (MENA), which are now entering final execution phases. ^[11]

2025 and 2026 Guidance: Management Leans Into Growth

With Q3 2025 in the books, Gorilla reaffirmed its full‑year 2025 guidance and issued a detailed 2026 outlook that investors are parsing closely. ^[12]

For full‑year 2025, the company still expects:

Revenue between $100 million and $110 million.
Adjusted EBITDA between $20 million and $25 million.
Adjusted net profit between $15 million and $20 million (excluding extraordinary items).
Positive operating cash flow.

For full‑year 2026, Gorilla is guiding to:

Revenue in the range of $137 million to $200 million, with the midpoint implying solid double‑digit growth versus 2025.
A significant contribution from the initial phase of the Southeast Asia AI data centre project, expected to add around $100 million in annual revenue from 2026 to 2028. ^[13]

Importantly, management notes that the guidance is based on the current contractual backlog and does not fully reflect the rest of the AI data centre mandate or additional pipeline opportunities that remain in negotiation. That means the 2026 range could be conservative if Gorilla successfully converts more of its multi‑billion‑dollar pipeline into signed contracts. ^[14]

How GRRR Stock Is Reacting on November 18, 2025

Markets have responded swiftly to the numbers and outlook. Across today’s coverage:

After‑hours on November 17, Gorilla shares spiked nearly 18% as traders digested the Q3 results and 2026 guidance. ^[15]
Pre‑market on November 18, GRRR stock was up around 14% to roughly $14.35, according to Benzinga’s early session rundown. ^[16]
A pre‑market recap on Seeking Alpha and other outlets highlighted the strong 2026 forecast, pipeline above $7 billion and positive cash‑flow outlook as the main catalysts driving the rally. ^[17]

Short‑form investor platforms and social feeds have turned noticeably bullish on the name, characterizing Gorilla as an “oversold small‑cap AI stock” now getting re‑rated on concrete execution rather than just AI hype. ^[18]

Still, even bullish write‑ups note that GRRR has been extremely volatile over the past year, with a 52‑week range spanning from the low single digits to over $40 per share — something risk‑sensitive investors will need to keep in mind. ^[19]

Inside Gorilla’s Business: AI, Security and Smart Infrastructure

Beyond the stock chart, Gorilla Technology positions itself as a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technologies. ^[20]

The company’s platforms and solutions target:

Smart city deployments (traffic, surveillance, public safety).
Intelligent video analytics including facial and license‑plate recognition.
Edge computing and post‑event analytics for government and enterprise customers.
Advanced cybersecurity and network intelligence designed to protect national‑scale infrastructure. ^[21]

Gorilla’s recent elevation as an NVIDIA solutions partner underscores its positioning in GPU‑driven AI infrastructure — a central theme in both the AI data centre mandate and its broader multi‑year pipeline. ^[22]

Earnings Call Takeaways: Execution and Efficiency in Focus

During today’s Q3 2025 earnings call, Gorilla’s leadership focused heavily on execution, operational efficiency and pipeline conversion: ^[23]

Management framed Q3 as a “turning point” for Gorilla, shifting from promise to delivery in large‑scale AI infrastructure.
They highlighted disciplined cost management, better vendor alignment and tighter project execution as key to moving from large losses in 2024 to breakeven in 2025.
The company reiterated its goal of sustained profitability and positive cash flow, not just one‑off profitable quarters.

Analyses from outlets like Investing.com and MarketWatch characterized the call as upbeat, with Gorilla presenting itself as a serious contender in sovereign‑grade AI infrastructure rather than a speculative AI play. ^[24]

Key Risks and What Investors Should Watch

Despite the strong narrative today, Gorilla itself cautions investors about several risks in its filings and forward‑looking statements: ^[25]

Execution risk on mega‑projects: Multi‑year AI data centre builds and national security deployments are complex; delays, cost overruns or contract changes could impact margins and timing of revenue.
Currency and macro risk: Q3 results were influenced by significant foreign exchange losses tied to depreciation of the Egyptian pound — a reminder that Gorilla operates in markets with macro volatility. ^[26]
Pipeline vs. backlog: While the $7B+ pipeline is eye‑catching, only signed contracts feed into the current guidance. Failure to convert late‑stage opportunities would limit upside. ^[27]
Share volatility and valuation: After a sharp jump on earnings, GRRR’s valuation could become sensitive to any misstep in future quarters or if AI infrastructure sentiment cools.

For prospective and current shareholders, key milestones to watch in the coming quarters include:

Progress updates on the Southeast Asia AI data centre build‑out.
Conversion of large law‑enforcement and smart‑city opportunities into signed, revenue‑generating contracts. ^[28]
Whether Gorilla can maintain positive EBITDA and edge into sustained net profitability through 2026.

Bottom Line: GRRR Steps Out of the Shadows

As of November 18, 2025, Gorilla Technology Group has delivered what many small‑cap AI names still only promise:

Tangible revenue growth,
Improved profitability metrics,
A de‑risked balance sheet, and
A clearly defined, multi‑billion‑dollar AI infrastructure pipeline. ^[29]

The stock’s sharp move higher shows that the market is starting to recognize that progress. The big question now is whether Gorilla can convert its headline‑grabbing contracts and guidance into consistently strong, cash‑generative quarters — and whether today’s rally fully prices in that potential.

As always, this article is for information and news purposes only and should not be taken as financial advice. Investors should do their own research and consider their risk tolerance before making decisions about Gorilla Technology Group Inc. or any other security.

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