Gorilla Technology Group Inc.

Key highlights include:

Record revenue growth**:** Revenue for the year ended December 31, 2025, was**$101.4 million**, compared with**$74.7 million** for the year ended December 31, 2024, an increase of35.7%. This marks thefirst time in Gorilla’s history that annual revenue has exceeded $100 million. The increase was driven by the Company’s continued execution across AI infrastructure, public safety and enterprise programmes in key international markets.

Major profitability turnaround: The Company delivered a transformational improvement in reported results for the year ended December 31, 2025, with IFRS operating loss narrowing to $(13.7) million from $(66.9) million for the year ended December 31, 2024. This represents a $53.2 million improvement, or a 79.6% year-on-year reduction in IFRS operating loss, underscoringa genuine operating turnaround.

Continued focus on cost discipline and earnings quality: Total operating expenses for the year ended December 31, 2025, were $47.5 million, compared to $104.3 million for the year ended December 31, 2024, a reduction of 54.4%. IFRS net loss narrowed to $(11.3) million from $(64.8) million in the prior year, representing an improvement of $53.5 million, or 82.6% year-on-year, reflecting a clear improvement in the Company’s operating structure and financial discipline, while still making the necessary investments for continued growth.

Adjusted profitability remains strong while investing for growth: Adjusted EBITDA for the year ended December 31, 2025 was**$19.1 million** andnon-IFRS net income was**$19.9 million** for the year ended December 31, 2025. Gorilla maintained strong adjusted profitability while investing in growth capacity, including the expansion of offices, a significant increase in research and development capabilities and accelerated product development. The company saved substantially on finance-related costs due to its lower debt load.

Earnings per share inflection: IFRS basic EPS improved significantly to $(0.51) for the year ended December 31, 2025, compared with $(6.13) for the year ended December 31, 2024, representing an improvement of 91.7% year-on-year. Adjusted basic EPS was $0.89 for the year ended December 31, 2025. This reflects a sharp improvement in reported per share performance while preserving positive adjusted earnings.

**Net cash:**Finished the year with total cash of $104.8 million, including restricted deposits of $5.3 million. The total debt load was $13.8 million, down 35.6% from $21.4 million in the prior year. Through the refinancing of certain lending agreements and the repayment of others, the Company materially reduced its deposits previously held as collateral against loan obligations in an amount of $5.3 million.

**Share Repurchase Programme:**In 2025, Gorilla also continued to execute its capital allocation strategy through share repurchases and spent $3.5 million on buybacks, reflecting its conviction in the intrinsic value of the business while continuing to fund growth, research and development and strategic execution.

**Further Updates:**In the first two months of 2026, the Company collected more than $22 million from its largest customers, representing payment for solutions delivered and invoiced in 2025. The Company remains focused on disciplined cash collection and working capital management. As of February 26, 2026, the Company had $108.4 million of unrestricted cash and $116.6 million of total cash. It has spent an additional $3.0 million on share buybacks in the calendar year 2026.