Gorilla Technology Group, Inc. Q3 FY2023 earnings call

• Innovation is key: The company has been continuously innovating, creating fully customized solutions for clients' needs, with new product suites covering Industry 4.0, Air Gap Networks, etc.
• Global expansion: Expanded global footprint, with teams across the globe, and relocated headquarters to the UK. Established global center for R&D and customer success in India.
• Partnerships: Built strategic partnerships with Red Hat, MCS, InfoSec for future endeavors.
• Revenue growth: Revenue grew 105% year-over-year from $18.5 million to nearly $38 million. Gross profit grew nearly 5x to over $29 million.
• EBITDA: Adjusted EBITDA turned positive this year with a margin of 35%, a significant milestone since listing.

For the first nine months of 2023, Gorilla Technology Group achieved a revenue of $37.9 million, which is a surge of over 2x compared to the same period last year. The gross margin was an impressive 76.5%, more than double from the previous year. The total sales signed in the first nine months reached a staggering $300 million, which is about 441% above internal targets.

• Reiterated full-year 2024 revenue guidance of $90 million.
• Expect to sustain positive adjusted EBITDA as revenue continues to rise and cost controls remain disciplined.