Gorilla Technology Group Inc. GRRR

Information TechnologySoftware & IT ServicesUnited Kingdom

Last close 7.33 USD on Nov 2, 2026, −32.9% year to date

Quant rating

Quant rating C Rank 130 of 200 in Information Technology

Growth B 33 of 200
Valuation C 129 of 200
Quality C 115 of 200
Revisions C 84 of 200
Momentum D 180 of 200

Wall Street consensus Buy (1.83)Average target 34.43 USD +369.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 202M
Enterprise value: 97M
52-week range: 7.00 – 23.47
3-year range: 2.24 – 41.91
Dividend yield: –
Beta (5 years): 0.40
Shares outstanding: 27.6M
Next earnings: Nov 16, 2026

About the company

Gorilla Technology Group Inc. (Gorilla) is a global solution provider of security intelligence, network intelligence, business intelligence and Internet of things (IoT) technology. The Company provides a range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using artificial intelligence (AI) and Deep Learning Technologies. Its segments include Video IoT, Security Convergence and other segments. Its core Video Analytics products include Intelligent Video Analytics Recorder, Event & Video Management System Appliances, Post Event, and iCCTV. The Cybersecurity product portfolio includes Security Convergence Platform, NetProbe, NetTrap, Host-Based Malware Detection, Facial Recognition-Mobile One Time Password, Security Operations Center, Gorilla Intelligent Network Director and others.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	101	74.7	64.7	22.4	42.2	–
Revenue growth	35.7%	15.4%	188.7%	−47.0%	−7.0%	17.4%
EPS (basic, normalized)	−0.51	–	16.40	−17.80	–	–
EPS growth	–	–	–	–	–	–
Gross margin	33.4%	50.0%	69.1%	37.2%	37.3%	45.4%
Net margin	−11.1%	−86.8%	20.9%	−390.6%	−20.2%	−97.6%
ROE	−8.4%	−101.8%	32.6%	−235.1%	−17.2%	−66.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	180
Current ratio	2.24x
Long-term debt (mil)	64.0
Net debt (mil)	−105
Total equity (mil)	171
Net debt / equity	−0.62x
Net debt / EBITDA	−5.52x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	101	+35.7%	1.0x	19.1	+12.7%	5.1x	−0.51	–	−14.4x
2026	203	+100.1%	0.5x	22.9	+19.6%	4.2x	−2.94	−477.3%	−2.5x
2027	558	+175.3%	0.2x	337	+1,373.0%	0.3x	−1.43	+51.5%	−5.1x
2028	982	+76.0%	0.1x	624	+85.4%	0.2x	−2.14	−50.1%	−3.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	203	0.0%	+8.7%	+20.5%	−2.94	0.0%	+8.8%	−209.4%
2027	558	0.0%	+30.8%	+78.9%	−1.43	0.0%	+44.2%	−134.1%
2028	982	0.0%	+78.6%	–	−2.14	0.0%	+74.7%	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	–	18.3	21.1	26.5	35.6	28.2	50.1
Sales mean (mil)	8.6	12.5	20.0	30.5	19.5	21.5	26.5	33.9	26.0	42.6
Surprise	–	–	–	–	−6.4%	−2.0%	−0.1%	+5.0%	+8.5%	+17.6%
EPS reported	–	–	–	–	−0.23	−0.20	0.00	−0.10	−1.42	−0.32
EPS mean	−0.39	−0.28	0.09	0.34	0.06	0.17	0.24	0.23	0.43	0.10
Surprise	–	–	–	–	−518.2%	−221.2%	−100.4%	−144.4%	−426.4%	−404.8%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
GRRR Gorilla Technology Group Inc.	202M	−5.52x	−11.1%	1.16x	−2.5x	−5.1x	4.2x	0.3x
MSTR Strategy Inc	55.9B	−2.56x	−886.3%	0.81x	−5.1x	11.1x	−6.6x	9.8x
SOUN SoundHound AI, Inc.	2.0B	3.47x	−8.3%	3.63x	−21.8x	−28.5x	−25.1x	−26.8x
PONY Pony AI Inc	2.1B	4.66x	−148.9%	1.24x	−7.4x	−6.9x	−3.9x	−4.4x
RDVT Red Violet Inc	1.2B	−1.61x	14.6%	9.83x	46.8x	44.2x	29.8x	26.3x
SHAZ SharonAI Holdings Inc	743M	–	−2,529.2%	0.66x	−1.5x	−14.2x	−2.7x	−0.1x
Mean		−0.31x	−594.9%	2.89x	1.4x	0.1x	−0.7x	0.9x
Median		−1.61x	−80.0%	1.20x	−3.8x	−6.0x	−3.3x	0.1x

Technical analysis

1M−44.3%
3M−33.9%
1Y−53.8%
3Y−15.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Gorilla Technology Group Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	101	74.7	64.7	22.4	42.2	45.4
Cost of revenue	67.5	37.4	20.0	14.1	26.5	26.9
Gross profit	33.9	37.3	44.7	8.3	15.8	18.6
Selling, general & administrative expenses	21.3	13.2	18.0	82.5	7.8	7.1
Research & development	2.7	1.6	3.1	12.9	13.3	12.6
Depreciation/amortization	0.6	0.8	0.7	1.7	2.4	2.9
Interest expense (income), operating	22.3	27.8	−0.1	−1.1	0.1	0.3
Unusual expense (income)	0	0.4	0	0.2	0	1.4
Other operating expenses	0.7	60.4	5.9	−1.3	0.4	−0.1
Operating income	−13.7	−66.9	17.1	−86.5	−8.2	−5.7
Net interest income (expense)	2.7	0.8	0	−0.6	−0.6	−0.3
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	−10.9	−66.1	17.0	−87.1	−8.8	−6.0
Provision for taxes	0.3	−1.3	3.5	0.4	−0.2	−0.1
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−11.3	−64.8	13.5	−87.5	−8.5	−5.9
Extraordinary items	–	–	–	–	–	–
Net income	−11.3	−64.8	13.5	−87.5	−8.5	−5.9
EBIT, normalized	8.7	−38.7	20.1	−87.4	−8.1	−4.0
EBITDA, normalized	10.0	−37.3	21.3	−79.8	0.7	4.2
Basic EPS, normalized	−0.51	–	16.40	−17.80	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Gorilla Technology Group Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	105	37.5	34.1	30.9	19.0	19.6
Receivables	112	60.4	35.8	15.4	36.5	34.9
Total inventory	0	0	0	0.1	0.2	0.1
Prepaid expenses	14.8	28.6	7.4	1.3	0.2	–
Other current assets	1.5	0.2	0.2	0.1	0	0.2
Total current assets	234	127	77.5	47.8	55.8	54.8
Property, plant & equipment	16.8	15.4	15.9	16.1	34.5	32.4
Goodwill	–	–	–	–	–	–
Intangibles	2.4	2.9	5.9	0.1	3.4	4.1
Long-term investments	4.0	0	13.6	0	0.1	0.2
Note receivable	–	–	–	–	–	–
Other long-term assets	14.6	8.7	2.5	1.3	1.1	0.8
Total assets	272	154	115	65.3	94.9	92.3
Liabilities
Accounts payable	43.9	26.0	11.0	6.7	8.1	6.7
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1.8	1.2	1.8	2.7	3.1	1.9
Short-term debt	9.4	15.1	16.4	13.5	23.0	17.8
Current portion of long-term debt	1.4	2.2	1.8	2.1	2.1	1.4
Other current liabilities	13.8	30.8	23.2	3.3	1.7	0.8
Total current liabilities	70.3	75.3	54.3	28.3	38.0	28.5
Long-term debt	4.3	5.0	6.8	8.3	10.8	10.0
Minority interest	–	–	–	–	–	–
Other liabilities	1.2	0.4	0.1	0.2	0.2	0.3
Total liabilities	75.8	80.7	61.3	36.7	49.0	38.8
Shareholders' equity
Preferred stock	–	–	–	0	5.8	5.8
Common stock	0	0	0	0	6.2	6.2
Additional paid-in capital	359	255	166	155	41.3	40.9
Retained earnings (accumulated deficit)	−160	−148	−83.4	−97.0	−9.5	−0.9
Treasury stock	−2.1	−33.2	−29.6	−29.6	0	0
Other equity	−1.4	−0.1	1.0	0.4	2.0	1.6
Total equity	196	73.1	54.2	28.5	45.9	53.5
Total liabilities & shareholders' equity	272	154	115	65.3	94.9	92.3

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Gorilla Technology Group Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−10.9	−66.1	17.0	−87.1	−8.8	−6.0
Depreciation, depletion & amortization	1.3	1.4	1.2	7.6	8.7	8.2
Deferred taxes	–	–	–	–	–	–
Non-cash items	24.8	82.9	6.8	69.8	1.4	1.9
Changes in working capital	−43.9	−47.9	−34.5	0.9	0.3	−6.0
Cash from operations	−28.7	−29.6	−9.4	−8.8	1.6	−1.9
Investing activities
Capital expenditures	−0.7	−1.5	−3.8	−3.0	−8.4	−5.5
Other investing cash flows	6.1	18.1	−34.9	1.1	−1.5	−2.2
Cash from investing	5.5	16.6	−38.7	−1.9	−9.9	−7.7
Financing activities
Financing cash flow items	−6.5	11.3	0.9	32.0	–	–
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	108	16.7	28.9	−8.4	6.0	3.9
Cash from financing	101	28.0	29.7	23.6	6.0	3.9
Foreign exchange effects	−0.2	1.4	0.7	0.1	0.1	0.3
Net change in cash	77.8	16.4	−17.7	13.1	−2.2	−5.5
Free cash flow	−29.3	−31.1	−13.2	−11.8	−6.8	−7.5

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.