Gorilla Tech Group Reports FY22 Financial Results

(24/7 MARKET NEWS) – Gorilla Technology Group Inc. (NASDAQ:GRRR) reported, after yesterday’s market close, its unaudited financial results for the year ended December 31, 2022.

Highlights and Subsequent Events

• Strategic pivot to security convergence as complement to advanced AI video analytics

• Beefed up video analytics offering with acquisition of assets of SeeQuestor

• Greater access to capital from listing on Nasdaq via reverse merger with Global SPAC Partners

• Moved from Taiwan-based regional supplier to London-based global leader

• Broad upgrade of leadership with new CEO, CFO, CIO, Global HR

• Implemented financial and operational discipline by transitioning out of marginal or unprofitable projects

• Won a significant Smart City cybersecurity implementation project in MENA valued over $100 million

• Developing next generation edge AI appliance with Hailo and Lanner Electronics

• Won first U.K. customer for Smart Port project

• 2023 revenue guidance of $65 to $75 million

Gorilla Technology is trading at $3.05, up $0.11 (+3.74%), on 160 thousand premarket shares.

Its 52-week trading range is $2.62 to $51.00.

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