Gorilla technology group reports first half 2023 financial results

– year-on-year growth in fiscal 2023 will be nearly 300% in constant currency – – booked sales exceeded internal target of $41 million, standing at $272 million (a 563% increase) – – revenue guidance of $65 million for 2023 and $90 million for 2024 – – improved visibility with revenue contracted through 2026 – – 49.4% gross margin affirms success in improving quality of customer base – london, aug. 09, 2023 (globe newswire) -- gorilla technology group inc. (“gorilla” or the “company”) (nasdaq: grrr), a global provider of ai-based edge video analytics, iot technologies, and cybersecurity, today reported its unaudited financial results for the six months ended june 30, 2023. highlights booked sales exceeded internal target of $41 million, standing at $272 million, a 563% increase evolved from a project centric business to a product & services business, as demonstrated by multi-hundred-million-dollar contract for government of egypt implemented financial and operational discipline by transitioning out of marginal or unprofitable projects will implement smart government security convergence solution for the government of egypt largest contract in company history, with total revenues of $270 million over three years aggressive actions to safeguard shareholders from illegal stock manipulation recorded gross margin of 49.4%, a significant increase from the previous year's margin of 33.1%, standing as compelling evidence of a successful transformation to position the company for sustainable and profitable growth at scale operating expense decreased by $1.9 million compared with the prior year 2023 and 2024 revenue guidance at $65 million and $90 million, respectively gorilla chief executive officer jay chandan commented, “just after quarter-end we announced a transformational contract with the government of egypt, in which we will implement a smart government security convergence solution.
GRRR Ratings Summary
GRRR Quant Ranking