From GlobeNewswire: 2024-04-04 08:00:00

Gorilla Technology Group Inc. (NASDAQ: GRRR) reports substantial financial growth in 2023 with revenues up by 189% compared to 2022, gross margin at 69%, net income of $19.9 million (123% increase YoY), and adjusted EBITDA of $29.0 million (587% increase YoY). The company plans for continued success, with an estimated pipeline exceeding $1 billion and anticipated expansion deals totaling $300 million.

The impressive financial turnaround for Gorilla Technology Group Inc. demonstrates its strategic and operational prowess, with net profit soaring to $19.9 million, compared to a loss of ($87.5 million) in 2022, and adjusted EBITDA reaching $29.0 million. The company’s focus on innovation, operational excellence, and customer satisfaction positions it for sustained growth and success in the coming years.

Gorilla Technology Group Inc. credits its growth to a high-value product and services business model, reflected in a 69% gross margin and total net income of $19.9 million in 2023. With a robust financial outlook, the company anticipates continued success, shareholder value enhancement, and strategic growth opportunities in 2024 and beyond. CEO Jay Chandan affirms the company’s commitment to delivering exceptional value to clients and stakeholders.



Read more at GlobeNewswire:: Gorilla Reports Record 2023 Financial Results